SBC Medical Group Holdings Inco — Earnings Quality Grade F
SBC · Industrials
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 63 days, change +9 days YoY
AR growth -1.2% vs revenue growth -15.5%
Revenue -15.5%, CFFO 19.8%. Cash follows revenue
Expense Quality
Inventory growth 86.8% exceeds COGS -6.2%
CapEx growth -20.7% vs revenue -15.5%. Normal
SG&A/Gross Profit = 47.0%. Normal
Gross margin 73.3%, change -2.7pp. Stable
Cash Flow Quality
CFFO/NI = 0.48. Only 48% of profit backed by cash
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF < 50% of Net Income for 2 years
Accruals ratio = 6.9%. Elevated
Cash $0.2B covers debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.1B = 25% of equity. Manageable
Debt/EBITDA = 0.6x. Healthy
Other assets -69.8% vs revenue -15.5%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 918% YoY
Manipulation Score
M-Score = -1.90 (grey zone)
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25