SBC Medical Group Holdings Inc
SBCdata completeness 100%3 fiscal years on fileSBC Medical Group Holdings Inc earns about 66% on invested capital, far above its ~9% cost of capital, but has diluted owners by 9% over 3 years — a real edge showing up in the numbers. The estimate methods put fair value between $4.69 and $5.52 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Revenue | $193.5M1 | $205.4M2 | $173.6M2 |
| Net income | $39.4M3 | $46.6M4 | $51M4 |
| Operating cash flow | $50.7M5 | $20.6M6 | $24.7M6 |
| Capital expenditure | $8.54M7 | $2.56M8 | $1.4M8 |
| Free cash flow (derived) | $42.1M5 | $18M6 | $23.3M6 |
| Total debt | $329,1559 | $6.86M10 | $43.1M11 |
| Cash & equivalents | $103M12 | $125M13 | $163.8M13 |
| Diluted shares | 94.2M | 96.6M | 103.0M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $24.11 of net worth that earned you $4.95 and generated $2.26 of cash last year, against $4.18 of debt.
It earned about 66% on invested capital, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.
seeing a moat in the numbers →Share count is up 9% over 3 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 12982% over the same window.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $4.69 and $5.52 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$23.3M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$23.3M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$46.6M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $4.4 |
| Base | 5.0% | $5.18 |
| Bull | 10.0% | $6.12 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 5.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 10-K · period ending 2023-12-31 · accession 0001641172-25-001062 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2024-12-31 · accession 0001193125-26-127557 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-12-31 · accession 0001641172-25-001062 (NetIncomeLoss)
- 10-K · period ending 2024-12-31 · accession 0001193125-26-127557 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001641172-25-001062 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2024-12-31 · accession 0001193125-26-127557 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001641172-25-001062 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2024-12-31 · accession 0001193125-26-127557 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001641172-25-001062 (DebtCurrent)
- 10-K · period ending 2024-12-31 · accession 0001641172-25-001062 (LongTermDebt)
- 10-K · period ending 2025-12-31 · accession 0001193125-26-127557 (LongTermDebt)
- 10-K · period ending 2023-12-31 · accession 0001641172-25-001062 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-12-31 · accession 0001193125-26-127557 (CashAndCashEquivalentsAtCarryingValue)