Latest Ratios: P/E Ratio 6.5x · EV/EBITDA 3.2x · ROE 22.2%. (2022–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Market Cap | $335M | $444M | $537M | $1.0B | $154M |
| Enterprise Value | $223M | $332M | $424M | $934M | $118M |
| P/E Ratio → | 6.52 | 8.62 | 11.58 | 25.64 | 162.68 |
| P/S Ratio | 1.93 | 2.56 | 2.61 | 5.24 | 0.88 |
| P/B Ratio | 1.28 | 1.69 | 2.75 | 7.05 | 1.42 |
| P/FCF | 9.17 | 12.15 | 31.26 | 25.72 | — |
| P/OCF | 8.61 | 11.41 | 26.08 | 20.03 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| EV / Revenue | — | 1.91 | 2.06 | 4.83 | 0.68 |
| EV / EBITDA | 3.18 | 4.73 | 5.72 | 11.27 | 4.53 |
| EV / EBIT | 3.31 | 4.04 | 5.77 | 12.69 | 4.98 |
| EV / FCF | — | 9.08 | 24.69 | 23.69 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Gross Margin | 73.3% | 73.3% | 76.0% | 70.9% | 65.9% |
| Operating Margin | 38.9% | 38.9% | 34.2% | 36.5% | 11.6% |
| Net Profit Margin | 29.4% | 29.4% | 22.7% | 20.3% | 3.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | 22.2% | 22.2% | 27.5% | 31.3% | 5.9% |
| ROA | 15.8% | 15.8% | 17.8% | 16.3% | 2.8% |
| ROIC | 43.4% | 43.4% | 72.3% | 78.0% | 20.9% |
| ROCE | 25.7% | 25.7% | 37.9% | 48.6% | 16.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.20 | 0.20 | 0.06 | 0.16 | 0.15 |
| Debt / EBITDA | 0.74 | 0.74 | 0.16 | 0.28 | 0.62 |
| Net Debt / Equity | — | -0.43 | -0.58 | -0.56 | -0.33 |
| Net Debt / EBITDA | -1.60 | -1.60 | -1.52 | -0.97 | -1.37 |
| Debt / FCF | — | -3.07 | -6.57 | -2.03 | — |
| Interest Coverage | 512.05 | 512.05 | 2596.61 | 1625.55 | 754.05 |
Net cash position: cash ($164M) exceeds total debt ($52M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 3.78 | 3.78 | 3.01 | 1.79 | 1.12 |
| Quick Ratio | 3.74 | 3.74 | 2.99 | 1.76 | 1.10 |
| Cash Ratio | 2.68 | 2.68 | 2.04 | 1.11 | 0.53 |
| Asset Turnover | — | 0.46 | 0.77 | 0.75 | 0.77 |
| Inventory Turnover | 16.59 | 16.59 | 33.02 | 18.19 | 43.94 |
| Days Sales Outstanding | — | 110.62 | 85.63 | 100.20 | 91.47 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | 15.3% | 11.6% | 8.6% | 3.9% | 0.6% |
| FCF Yield | 10.9% | 8.2% | 3.2% | 3.9% | — |
| Buyback Yield | 1.5% | 1.1% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.5% | 1.1% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $103M | $97M | $94M | $15M |
Persistent Revenue Contraction
According to current market data, SBC trades at a TTM P/E of 6.52 and an EV/EBITDA of 3.18, suggesting that investors are heavily discounting the company's future growth prospects relative to the broader aesthetic healthcare sector and its own historical trading ranges.
The low valuation multiples appear to reflect significant skepticism regarding the sustainability of the company's franchise-based revenue model in the face of recent top-line contraction. While these multiples might appear attractive on a standalone basis, they likely incorporate a risk premium for the company's geographic concentration in Japan and the potential for further margin compression.
Based on reported financial statements, SBC's ROIC has experienced a notable decline from 45.5% in 2023Q4 to 9.7% in 2026Q1, indicating that the company is struggling to maintain its historical ability to compound returns on invested capital as the business scales.
This downward trend in capital efficiency suggests that the incremental capital deployed into the business is generating lower returns than in previous periods. Investors should monitor whether this decay is a structural consequence of market saturation in Japan or a temporary result of inefficient capital allocation during the recent expansion phase.
As reported in recent quarterly filings, SBC's cash conversion cycle has swung from -74 days in 2023Q4 to 15 days in 2025Q4, highlighting significant instability in the company's ability to manage its working capital and collect payments from its network of franchisee clinics.
The erratic nature of the CCC suggests that the company's operational leverage is highly sensitive to the timing of procurement orders and franchisee settlement cycles. This volatility complicates the assessment of true underlying operational efficiency and warrants further investigation into the credit terms extended to the clinic network.
Based on the latest balance sheet data, SBC maintains a current ratio of 3.82, which provides a substantial liquidity cushion that appears to insulate the company from the immediate financial distress typically associated with a -15.48% year-over-year revenue contraction.
While this liquidity position is robust, it may also indicate an accumulation of idle cash that is not being effectively deployed to drive growth. The company's ability to maintain such high liquidity while revenue declines suggests a conservative management posture that may be prioritizing capital preservation over aggressive market expansion.
The most commonly misapplied metric for SBC is the standard P/E ratio, which obscures the company's reality as a high-margin procurement and platform operator rather than a traditional consulting firm, leading to a potential mispricing of its underlying operational scalability.
Analysts should instead focus on EV/EBITDA adjusted for the company's significant cash position, as the raw P/E ratio fails to account for the non-operating nature of the massive cash reserves held on the balance sheet. Relying on traditional consulting multiples ignores the unique risks associated with the aesthetic medicine supply chain and franchisee dependency.
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Quick answers to the most common questions about buying SBC stock.
SBC Medical Group Holdings Incorporated's current P/E ratio is 6.5x. The historical average is 52.1x.
SBC Medical Group Holdings Incorporated's current EV/EBITDA is 3.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.6x.
SBC Medical Group Holdings Incorporated's return on equity (ROE) is 22.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 21.7%.
Based on historical data, SBC Medical Group Holdings Incorporated is trading at a P/E of 6.5x. Compare with industry peers and growth rates for a complete picture.
SBC Medical Group Holdings Incorporated has 73.3% gross margin and 38.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
SBC Medical Group Holdings Incorporated's Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.