SBC
SBC Medical Group Holdings Incorporated Common Stock
stock NASDAQ

They pay that’s why SBC is so high. They swing at the same level as Meta, Googles of the world. Very intense culture though similar to an Amazon or Nvidia. Pressure creates diamonds and they pay to attract elite talent.

Just jump to key sections. Risk factors are MOST important. I also like to learn about product/client concentration and their plans for expansion.
Part of this is context...if this company has debt issues, you might read up on the debt section. If it has SBC issues, you might read up on the SBC section.
A lot of financial data will be redundant with other forms and is only important if you need to drill down in depth for a specific question about a specific part of the business.
These are certainly not meant to be ready cover to cover like a book. As others have mentioned AI, has practically ALL 10k already on file and memorized and can easily provide summaries for what you need. It can be nice to read the 10k directly though as important details can be missed by AI. Also the 10k can provide a nice feel for how a business REALLY works.

Hi, i am new to investing bonds thru bank.
Nagdecide ako na mag invest dun sa latest SBC 5-Year Fixed Rate Corporate Bonds. I dont know the overall steps but the manager said na they will just debit the amount from my existing account with them. Since October 29, 2025 pa yung issue date, how can i be sure that they will deduct only the desired investment amount from my account? I think walang napirmahan na papers na naka state ang amount and account number…

Growth is slowing down while still not gaap profitable. Assuming 20% growth in their fcf for the next 5 years, they still come barely undervalued, and this is without subtracting the SBC. I think I would be cautious. If growth slows down dramatically to mid-teen, they are in trouble. Also, almost every enterprise saas company is undervalued right now if you ignore SBC. I think there might be better opportunity out there.

You know why FactSet is a great company? They don't subtract SBC in their adjusted earnings.
Now that's a grade A shop right there.

3.5% FCF yield after SBC for a first-class compounder.

Yes, I think so. The free cash flow yield is pretty good, even after SBC, for the kind of numbers in terms of growth they are putting up. Not to mention the reserve rate required due to their finance division's understating of FCF. Plenty of optionality, levers to pull, and runway, not to mention cross-selling.