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Side-by-side financial comparison of SBC Medical Group Holdings Inc (SBC) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Velocity Financial, Inc. is the larger business by last-quarter revenue ($51.6M vs $39.6M, roughly 1.3× SBC Medical Group Holdings Inc). Velocity Financial, Inc. runs the higher net margin — 67.3% vs 35.9%, a 31.4% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs -10.9%). SBC Medical Group Holdings Inc produced more free cash flow last quarter ($51.2M vs $17.9M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
SBC vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $39.6M | $51.6M |
| Net Profit | $14.2M | $34.8M |
| Gross Margin | 73.1% | — |
| Operating Margin | 32.5% | 97.0% |
| Net Margin | 35.9% | 67.3% |
| Revenue YoY | -10.9% | 32.8% |
| Net Profit YoY | 117.2% | 67.0% |
| EPS (diluted) | $0.15 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $43.4M | $49.1M | ||
| Q2 25 | $43.4M | $47.6M | ||
| Q1 25 | $47.3M | $37.5M | ||
| Q4 24 | $44.4M | $38.9M | ||
| Q3 24 | $53.1M | $35.1M | ||
| Q2 24 | $53.1M | $32.4M | ||
| Q1 24 | $54.8M | $29.5M |
| Q4 25 | $14.2M | $34.8M | ||
| Q3 25 | $12.8M | $25.4M | ||
| Q2 25 | $2.5M | $26.0M | ||
| Q1 25 | $21.5M | $18.9M | ||
| Q4 24 | $6.5M | $20.8M | ||
| Q3 24 | $2.8M | $15.8M | ||
| Q2 24 | $18.5M | $14.8M | ||
| Q1 24 | $18.8M | $17.3M |
| Q4 25 | 73.1% | — | ||
| Q3 25 | 70.6% | — | ||
| Q2 25 | 69.2% | — | ||
| Q1 25 | 79.7% | — | ||
| Q4 24 | 76.3% | — | ||
| Q3 24 | 81.5% | — | ||
| Q2 24 | 74.2% | — | ||
| Q1 24 | 72.1% | — |
| Q4 25 | 32.5% | 97.0% | ||
| Q3 25 | 36.6% | 72.1% | ||
| Q2 25 | 33.6% | 71.3% | ||
| Q1 25 | 51.1% | 71.7% | ||
| Q4 24 | 10.6% | 82.5% | ||
| Q3 24 | 26.1% | 60.6% | ||
| Q2 24 | 51.4% | 61.3% | ||
| Q1 24 | 44.6% | 78.8% |
| Q4 25 | 35.9% | 67.3% | ||
| Q3 25 | 29.6% | 51.7% | ||
| Q2 25 | 5.7% | 54.6% | ||
| Q1 25 | 45.4% | 50.4% | ||
| Q4 24 | 14.7% | 53.5% | ||
| Q3 24 | 5.3% | 45.1% | ||
| Q2 24 | 34.8% | 45.6% | ||
| Q1 24 | 34.2% | 58.5% |
| Q4 25 | $0.15 | $0.90 | ||
| Q3 25 | $0.12 | $0.65 | ||
| Q2 25 | $0.02 | $0.69 | ||
| Q1 25 | $0.21 | $0.51 | ||
| Q4 24 | $0.05 | $0.56 | ||
| Q3 24 | $0.03 | $0.44 | ||
| Q2 24 | $0.20 | $0.42 | ||
| Q1 24 | $0.20 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | $42.8M | — |
| Stockholders' EquityBook value | $248.3M | $672.5M |
| Total Assets | $380.4M | $7.4B |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $164.1M | $92.1M | ||
| Q3 25 | $127.4M | $99.0M | ||
| Q2 25 | $152.7M | $79.6M | ||
| Q1 25 | $132.1M | $51.7M | ||
| Q4 24 | $125.0M | $49.9M | ||
| Q3 24 | $137.4M | $44.1M | ||
| Q2 24 | — | $47.4M | ||
| Q1 24 | — | $34.8M |
| 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 | $672.5M | ||
| Q3 25 | $248.0M | $634.3M | ||
| Q2 25 | $244.6M | $597.9M | ||
| Q1 25 | $226.4M | $563.2M | ||
| Q4 24 | $195.1M | $516.9M | ||
| Q3 24 | $205.0M | $484.6M | ||
| Q2 24 | $8.8M | $471.3M | ||
| Q1 24 | $9.0M | $452.9M |
| Q4 25 | $380.4M | $7.4B | ||
| Q3 25 | $321.4M | $7.0B | ||
| Q2 25 | $315.3M | $6.5B | ||
| Q1 25 | $284.6M | $6.0B | ||
| Q4 24 | $266.1M | $5.5B | ||
| Q3 24 | $296.5M | $5.2B | ||
| Q2 24 | $19.5M | $4.9B | ||
| Q1 24 | $19.8M | $4.6B |
| 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 | $18.2M |
| Free Cash FlowOCF − Capex | $51.2M | $17.9M |
| FCF MarginFCF / Revenue | 129.3% | 34.6% |
| Capex IntensityCapex / Revenue | 2.0% | 0.5% |
| Cash ConversionOCF / Net Profit | 3.66× | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $23.3M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.0M | $18.2M | ||
| Q3 25 | $-20.9M | $11.5M | ||
| Q2 25 | $-8.3M | $7.7M | ||
| Q1 25 | $1.9M | $3.5M | ||
| Q4 24 | $-7.3M | $37.8M | ||
| Q3 24 | $5.0M | $-17.6M | ||
| Q2 24 | $19.2M | $11.5M | ||
| Q1 24 | $3.7M | $10.6M |
| Q4 25 | $51.2M | $17.9M | ||
| Q3 25 | $-20.9M | $11.4M | ||
| Q2 25 | $-8.6M | $7.6M | ||
| Q1 25 | $1.7M | $3.5M | ||
| Q4 24 | $-7.9M | $37.5M | ||
| Q3 24 | $4.6M | $-17.6M | ||
| Q2 24 | $18.3M | $11.4M | ||
| Q1 24 | $3.0M | $10.5M |
| Q4 25 | 129.3% | 34.6% | ||
| Q3 25 | -48.3% | 23.2% | ||
| Q2 25 | -19.9% | 15.9% | ||
| Q1 25 | 3.5% | 9.2% | ||
| Q4 24 | -17.8% | 96.4% | ||
| Q3 24 | 8.7% | -50.3% | ||
| Q2 24 | 34.5% | 35.1% | ||
| Q1 24 | 5.4% | 35.8% |
| Q4 25 | 2.0% | 0.5% | ||
| Q3 25 | 0.1% | 0.1% | ||
| Q2 25 | 0.7% | 0.2% | ||
| Q1 25 | 0.5% | 0.2% | ||
| Q4 24 | 1.3% | 0.7% | ||
| Q3 24 | 0.8% | 0.2% | ||
| Q2 24 | 1.6% | 0.3% | ||
| Q1 24 | 1.3% | 0.1% |
| Q4 25 | 3.66× | 0.52× | ||
| Q3 25 | -1.63× | 0.45× | ||
| Q2 25 | -3.39× | 0.29× | ||
| Q1 25 | 0.09× | 0.19× | ||
| Q4 24 | -1.12× | 1.81× | ||
| Q3 24 | 1.77× | -1.11× | ||
| Q2 24 | 1.04× | 0.78× | ||
| Q1 24 | 0.20× | 0.61× |
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% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
