The company maintains a conservative capital structure with a low debt-to-equity ratio of 0.08 as of 2026Q1, supported by an equity base that has grown to $255.3M.
| Total Current Assets | 238.78M | 231.22M | 184.45M | 165.91M | 112.95M |
| Cash & Short-Term Investments | 167.31M | 164.09M | 125.04M | 103.02M | 53.64M |
| Cash Only | 167.31M | 163.77M | 125.04M | 103.02M | 51.74M |
| Short-Term Investments | 0 | 319.19K | 0 | 0 | 1.91M |
| Accounts Receivable | 13.09M | 52.61M | 48.19M | 53.13M | 43.65M |
| Days Sales Outstanding | 120.03 | 110.62 | 85.63 | 100.2 | 91.47 |
| Inventory | 2.32M | 2.79M | 1.49M | 3.09M | 1.35M |
| Days Inventory Outstanding | 15.37 | 22 | 11.05 | 20.06 | 8.31 |
| Other Current Assets | 56.06M | 11.72M | 25.54K | 162.12K | 37.23K |
| Total Non-Current Assets | 149.24M | 149.22M | 81.63M | 92.9M | 112.53M |
| Property, Plant & Equipment | 18.76M | 16.36M | 14.04M | 19.5M | 21.51M |
| Fixed Asset Turnover | 11.17x | 10.61x | 14.63x | 9.92x | 8.10x |
| Goodwill | 15.4M | 15.43M | 4.61M | 3.59M | 3.87M |
| Intangible Assets | 47.15M | 47.74M | 1.59M | 19.74M | 7.27M |
| Long-Term Investments | 105.67M | 58.02M | 20.87M | 20.66M | 916.03K |
| Other Non-Current Assets | 61.75M | 7.66M | 30.72M | 29.41M | 73.7M |
| Total Assets | 388.02M | 380.45M | 266.08M | 258.81M | 225.48M |
| Asset Turnover | 0.48x | 0.46x | 0.77x | 0.75x | 0.77x |
| Asset Growth % | 111.24% | 42.98% | 2.81% | 14.78% | - |
| Total Current Liabilities | 62.57M | 61.12M | 61.19M | 92.45M | 101.25M |
| Accounts Payable | 19.17M | 17.64M | 14.53M | 26.53M | 15.32M |
| Days Payables Outstanding | 138.23 | 138.99 | 107.46 | 172.2 | 94.26 |
| Short-Term Debt | 14.63M | 13.65M | 123.08K | 3.53M | 4.76M |
| Deferred Revenue (Current) | 21.32M | 9.47M | 12.56M | 25.13M | 30.44M |
| Other Current Liabilities | 27.76M | 11.54M | 227.89K | 832.52K | 25.2M |
| Current Ratio | 3.82x | 3.78x | 3.01x | 1.79x | 1.12x |
| Quick Ratio | 3.78x | 3.74x | 2.99x | 1.76x | 1.10x |
| Cash Conversion Cycle | -2.84 | -6.37 | -10.78 | -51.94 | 5.52 |
| Total Non-Current Liabilities | 55.07M | 56.02M | 9.87M | 22.54M | 16.38M |
| Long-Term Debt | 5.83M | 33.73M | 6.51M | 13.01M | 5.53M |
| Capital Lease Obligations | 7.33M | 4.25M | 1.24M | 2.44M | 2.36M |
| Deferred Tax Liabilities | 40.71M | 16.37M | 926.02K | 6.01M | 7.34M |
| Other Non-Current Liabilities | 33.03M | 1.66M | 1.19M | 1.07M | 1.15M |
| Total Liabilities | 117.64M | 117.14M | 71.06M | 115M | 117.63M |
| Total Debt | 20.45M | 51.64M | 12.21M | 22.87M | 16.13M |
| Net Debt | -146.85M | -112.14M | -112.83M | -80.16M | -35.61M |
| Debt / Equity | 0.08x | 0.20x | 0.06x | 0.16x | 0.15x |
| Debt / EBITDA | 0.32x | 0.74x | 0.16x | 0.28x | 0.62x |
| Net Debt / EBITDA | -2.31x | -1.60x | -1.52x | -0.97x | -1.37x |
| Interest Coverage | 254.43x | 512.05x | 2596.61x | 1625.55x | 754.05x |
| Total Equity | 270.38M | 263.3M | 195.02M | 143.81M | 107.85M |
| Equity Growth % | 127.46% | 35.01% | 35.61% | 33.34% | - |
| Book Value per Share | 2.64 | 2.56 | 2.02 | 1.53 | 7.16 |
| Total Shareholders' Equity | 255.34M | 248.28M | 195.11M | 142.16M | 105.25M |
| Common Stock | 10.39K | 10.39K | 10.3K | 9.42K | 0 |
| Retained Earnings | 251.76M | 240.45M | 189.46M | 142.85M | 103.48M |
| Treasury Stock | 0 | -7.75M | -2.7M | 0 | 0 |
| Accumulated OCI | -61.54M | -57.29M | -54.18M | -37.58M | -24.85M |
| Minority Interest | 15.04M | 15.02M | -87K | 1.65M | 2.6M |
Revenue Contraction and Concentration
As reported in recent financial statements, SBC has grown total assets from $247.9M in 2024Q1 to $388.0M in 2026Q1, a trend that appears disconnected from the company's -15.48% YoY revenue decline and suggests potential capital accumulation rather than productive reinvestment into the core aesthetic management business.
The divergence between rising asset levels and declining top-line performance warrants investigation into whether the company is effectively deploying capital or simply accumulating idle resources. This trajectory suggests that the business model may be struggling to find high-return internal growth opportunities despite its historical scale.
Based on the latest quarterly filings, SBC maintains a strong liquidity position with $167.3M in cash and a current ratio of 3.82, providing a significant buffer against the operational headwinds and revenue volatility observed in the company's core Japanese aesthetic medicine management and procurement service model.
The high cash balance relative to total liabilities suggests a conservative financial posture that protects the firm from short-term liquidity shocks. However, investors should monitor whether this liquidity is being held to offset potential future liabilities or if it reflects a lack of strategic investment options.
According to the provided balance sheet data, SBC maintains a conservative capital structure with a D/E ratio of 0.08 as of 2026Q1, indicating that the company relies minimally on external debt to fund its operations and remains well-positioned to navigate potential sector-specific downturns in the aesthetic market.
The low debt burden implies that the company is not currently constrained by interest obligations, which provides flexibility during periods of revenue contraction. This reliance on equity financing suggests a risk-averse management approach that prioritizes balance sheet health over aggressive, debt-fueled expansion.
As indicated by historical balance sheet figures, SBC's equity base has expanded to $255.3M in 2026Q1, primarily driven by the consistent accumulation of retained earnings which grew from $142.8M in 2023Q4 to $251.8M, reflecting a long-term trend of internal profit retention over shareholder capital distribution.
The steady growth in retained earnings suggests that the company has historically been profitable, though the recent revenue decline raises questions about the future sustainability of this trend. Investors should evaluate whether this capital accumulation will eventually be deployed through dividends or strategic acquisitions to drive future growth.
Quick answers to the most common questions about buying SBC stock.
As of 2025, SBC Medical Group Holdings Incorporated (SBC) had total assets of $380.4M including $231.2M in current assets.
SBC Medical Group Holdings Incorporated (SBC) carries total debt of $51.6M, offset by $164.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
SBC Medical Group Holdings Incorporated (SBC) has total shareholders' equity (book value) of $248.3M ($2.56 book value per share). Book value represents the net worth of the company belonging to common stock holders.
SBC Medical Group Holdings Incorporated (SBC) reported a current ratio of 3.78x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.