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Side-by-side financial comparison of SBC Medical Group Holdings Inc (SBC) and STEM, INC. (STEM). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $39.6M, roughly 1.2× SBC Medical Group Holdings Inc). SBC Medical Group Holdings Inc runs the higher net margin — 35.9% vs -33.9%, a 69.8% gap on every dollar of revenue. On growth, SBC Medical Group Holdings Inc posted the faster year-over-year revenue change (-10.9% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs -15.0%).
SBC Medical Group Holdings Inc. is a leading Japan-headquartered healthcare provider primarily focused on aesthetic medicine, dermatology, and anti-aging wellness services. It operates an extensive network of clinics across Japan, catering to both domestic patients and international medical tourists, with core offerings including cosmetic surgery and non-invasive skincare treatments.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
SBC vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $39.6M | $47.1M |
| Net Profit | $14.2M | $-16.0M |
| Gross Margin | 73.1% | 48.9% |
| Operating Margin | 32.5% | -17.7% |
| Net Margin | 35.9% | -33.9% |
| Revenue YoY | -10.9% | -15.6% |
| Net Profit YoY | 117.2% | 68.8% |
| EPS (diluted) | $0.15 | $-4.40 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $39.6M | $47.1M | ||
| Q3 25 | $43.4M | $38.2M | ||
| Q2 25 | $43.4M | $38.4M | ||
| Q1 25 | $47.3M | $32.5M | ||
| Q4 24 | $44.4M | $55.8M | ||
| Q3 24 | $53.1M | $29.3M | ||
| Q2 24 | $53.1M | $34.0M | ||
| Q1 24 | $54.8M | $25.5M |
| Q4 25 | $14.2M | $-16.0M | ||
| Q3 25 | $12.8M | $-23.8M | ||
| Q2 25 | $2.5M | $202.5M | ||
| Q1 25 | $21.5M | $-25.0M | ||
| Q4 24 | $6.5M | $-51.1M | ||
| Q3 24 | $2.8M | $-148.3M | ||
| Q2 24 | $18.5M | $-582.3M | ||
| Q1 24 | $18.8M | $-72.3M |
| Q4 25 | 73.1% | 48.9% | ||
| Q3 25 | 70.6% | 35.5% | ||
| Q2 25 | 69.2% | 33.4% | ||
| Q1 25 | 79.7% | 32.4% | ||
| Q4 24 | 76.3% | -4.4% | ||
| Q3 24 | 81.5% | 21.2% | ||
| Q2 24 | 74.2% | 27.6% | ||
| Q1 24 | 72.1% | -95.0% |
| Q4 25 | 32.5% | -17.7% | ||
| Q3 25 | 36.6% | -33.6% | ||
| Q2 25 | 33.6% | -34.8% | ||
| Q1 25 | 51.1% | -65.0% | ||
| Q4 24 | 10.6% | -84.4% | ||
| Q3 24 | 26.1% | -493.2% | ||
| Q2 24 | 51.4% | -1705.5% | ||
| Q1 24 | 44.6% | -267.0% |
| Q4 25 | 35.9% | -33.9% | ||
| Q3 25 | 29.6% | -62.2% | ||
| Q2 25 | 5.7% | 527.8% | ||
| Q1 25 | 45.4% | -76.9% | ||
| Q4 24 | 14.7% | -91.6% | ||
| Q3 24 | 5.3% | -506.3% | ||
| Q2 24 | 34.8% | -1712.6% | ||
| Q1 24 | 34.2% | -283.9% |
| Q4 25 | $0.15 | $-4.40 | ||
| Q3 25 | $0.12 | $-2.84 | ||
| Q2 25 | $0.02 | $-1.79 | ||
| Q1 25 | $0.21 | $-0.15 | ||
| Q4 24 | $0.05 | $-15.29 | ||
| Q3 24 | $0.03 | $-18.24 | ||
| Q2 24 | $0.20 | $-71.81 | ||
| Q1 24 | $0.20 | $-0.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $164.1M | $48.9M |
| Total DebtLower is stronger | $42.8M | — |
| Stockholders' EquityBook value | $248.3M | $-249.4M |
| Total Assets | $380.4M | $308.9M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $164.1M | $48.9M | ||
| Q3 25 | $127.4M | $43.1M | ||
| Q2 25 | $152.7M | $40.8M | ||
| Q1 25 | $132.1M | $58.6M | ||
| Q4 24 | $125.0M | $56.3M | ||
| Q3 24 | $137.4M | $75.4M | ||
| Q2 24 | — | $89.6M | ||
| Q1 24 | — | $112.8M |
| Q4 25 | $42.8M | — | ||
| Q3 25 | $21.1M | — | ||
| Q2 25 | $7.1M | — | ||
| Q1 25 | $6.9M | — | ||
| Q4 24 | $6.6M | — | ||
| Q3 24 | $823.2K | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $248.3M | $-249.4M | ||
| Q3 25 | $248.0M | $-235.7M | ||
| Q2 25 | $244.6M | $-214.1M | ||
| Q1 25 | $226.4M | $-417.5M | ||
| Q4 24 | $195.1M | $-398.4M | ||
| Q3 24 | $205.0M | $-344.1M | ||
| Q2 24 | $8.8M | $-203.2M | ||
| Q1 24 | $9.0M | $371.6M |
| Q4 25 | $380.4M | $308.9M | ||
| Q3 25 | $321.4M | $362.6M | ||
| Q2 25 | $315.3M | $379.2M | ||
| Q1 25 | $284.6M | $405.1M | ||
| Q4 24 | $266.1M | $437.4M | ||
| Q3 24 | $296.5M | $537.8M | ||
| Q2 24 | $19.5M | $691.5M | ||
| Q1 24 | $19.8M | $1.3B |
| Q4 25 | 0.17× | — | ||
| Q3 25 | 0.09× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | 0.03× | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $52.0M | $8.2M |
| Free Cash FlowOCF − Capex | $51.2M | — |
| FCF MarginFCF / Revenue | 129.3% | — |
| Capex IntensityCapex / Revenue | 2.0% | — |
| Cash ConversionOCF / Net Profit | 3.66× | — |
| TTM Free Cash FlowTrailing 4 quarters | $23.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.0M | $8.2M | ||
| Q3 25 | $-20.9M | $11.4M | ||
| Q2 25 | $-8.3M | $-21.3M | ||
| Q1 25 | $1.9M | $8.5M | ||
| Q4 24 | $-7.3M | $-14.7M | ||
| Q3 24 | $5.0M | $-9.4M | ||
| Q2 24 | $19.2M | $-11.9M | ||
| Q1 24 | $3.7M | $-621.0K |
| Q4 25 | $51.2M | — | ||
| Q3 25 | $-20.9M | — | ||
| Q2 25 | $-8.6M | — | ||
| Q1 25 | $1.7M | — | ||
| Q4 24 | $-7.9M | — | ||
| Q3 24 | $4.6M | — | ||
| Q2 24 | $18.3M | — | ||
| Q1 24 | $3.0M | — |
| Q4 25 | 129.3% | — | ||
| Q3 25 | -48.3% | — | ||
| Q2 25 | -19.9% | — | ||
| Q1 25 | 3.5% | — | ||
| Q4 24 | -17.8% | — | ||
| Q3 24 | 8.7% | — | ||
| Q2 24 | 34.5% | — | ||
| Q1 24 | 5.4% | — |
| Q4 25 | 2.0% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 0.8% | — | ||
| Q2 24 | 1.6% | — | ||
| Q1 24 | 1.3% | — |
| Q4 25 | 3.66× | — | ||
| Q3 25 | -1.63× | — | ||
| Q2 25 | -3.39× | -0.11× | ||
| Q1 25 | 0.09× | — | ||
| Q4 24 | -1.12× | — | ||
| Q3 24 | 1.77× | — | ||
| Q2 24 | 1.04× | — | ||
| Q1 24 | 0.20× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SBC
| Franchising | $10.3M | 26% |
| Medical Corporation Shobikai | $8.1M | 21% |
| Medical Corporation Nasukai | $7.2M | 18% |
| Management Services | $6.3M | 16% |
| Rental Services | $4.3M | 11% |
| Medical Corporation Association Furinkai | $3.0M | 8% |
| Japan Medical And Beauty Inc | $656.5K | 2% |
STEM
Segment breakdown not available.
