Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 28, 2026
SBC Medical Group Holdings Inc (SBC)
A forensic read on SBC Medical Group Holdings Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Safe
Financial health
8.4
Altman Z-score
Clean
Earnings quality
4
Forensic signals
8.3
P / E (ttm)
16.4%
ROE
$339M
Market cap
SBC Medical Group Holdings Inc earns a B (Sound & dependable) forensic quality grade, and its Altman Z-score is 8.4, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+59.9%Accruals ratio.Net operating assets grew +59.9% relative to their average in FY2025 — the accrual component of earnings. Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The cash-flow cross-check agrees: reported earnings ran ahead of operating cash by +24% of net operating assets.
22dInventory days.Days inventory outstanding moved from 11 to 22 FY2024→FY2025 (against cost of goods sold; inventory +87% vs -6% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.
+4.7%/yrShare-count dilution.Diluted share count changed +9% over the last 2 years to FY2025 (+4.7%/yr). The count is GROWING — existing holders are being diluted. That's ~4.7% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~9%.
0.70×Cash conversion.Over FY2023–FY2025, operating cash flow was 0.70× cumulative net income. Cash is lagging reported profit — worth checking what's accruing rather than being collected.
Key fundamentals
Net Margin29.4%
Debt / Equity0.17x
Free Cash Flow$23.3M
Latest Revenue$173.6M
Return on Equity20.5%
Revenue Growth YoY-15.5%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on SBC Medical Group Holdings Inc:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about SBC's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown