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Side-by-side financial comparison of Alignment Healthcare, Inc. (ALHC) and Medpace Holdings, Inc. (MEDP). Click either name above to swap in a different company.
Alignment Healthcare, Inc. is the larger business by last-quarter revenue ($1.2B vs $708.5M, roughly 1.7× Medpace Holdings, Inc.). Medpace Holdings, Inc. runs the higher net margin — 19.1% vs 0.9%, a 18.2% gap on every dollar of revenue. On growth, Medpace Holdings, Inc. posted the faster year-over-year revenue change (32.0% vs -74.7%). Over the past eight quarters, Alignment Healthcare, Inc.'s revenue compounded faster (34.6% CAGR vs 17.7%).
Alignment Healthcare, Inc. is a U.S.-based healthcare provider offering Medicare Advantage plans for seniors. It adopts a value-based care model, partnering with local providers to deliver personalized coordinated medical services, prescription drug coverage and supplemental benefits to members across multiple U.S. states.
Medpace Holdings, Inc. is a global clinical research organization (CRO) based in Cincinnati, Ohio, employing approximately 6,000 people. Operating under a full-service model, the company also offers global central laboratory, imaging core laboratory, and bioanalytical laboratory services, as well as a Phase I unit located on its headquarters and clinical research campus in Cincinnati, Ohio.
ALHC vs MEDP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $708.5M |
| Net Profit | $11.4M | $135.1M |
| Gross Margin | — | — |
| Operating Margin | — | 21.6% |
| Net Margin | 0.9% | 19.1% |
| Revenue YoY | -74.7% | 32.0% |
| Net Profit YoY | — | 15.5% |
| EPS (diluted) | — | $4.65 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.0B | $708.5M | ||
| Q3 25 | $993.7M | $659.9M | ||
| Q2 25 | $1.0B | $603.3M | ||
| Q1 25 | $926.9M | $558.6M | ||
| Q4 24 | $701.2M | $536.6M | ||
| Q3 24 | $692.4M | $533.3M | ||
| Q2 24 | $681.3M | $528.1M |
| Q1 26 | $11.4M | — | ||
| Q4 25 | $-11.0M | $135.1M | ||
| Q3 25 | $3.7M | $111.1M | ||
| Q2 25 | $15.7M | $90.3M | ||
| Q1 25 | $-9.1M | $114.6M | ||
| Q4 24 | $-31.1M | $117.0M | ||
| Q3 24 | $-26.4M | $96.4M | ||
| Q2 24 | $-24.0M | $88.4M |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 21.6% | ||
| Q3 25 | 0.8% | 21.5% | ||
| Q2 25 | 2.2% | 20.9% | ||
| Q1 25 | -0.6% | 20.3% | ||
| Q4 24 | -3.2% | 23.4% | ||
| Q3 24 | -2.8% | 21.1% | ||
| Q2 24 | -2.7% | 19.9% |
| Q1 26 | 0.9% | — | ||
| Q4 25 | -1.1% | 19.1% | ||
| Q3 25 | 0.4% | 16.8% | ||
| Q2 25 | 1.5% | 15.0% | ||
| Q1 25 | -1.0% | 20.5% | ||
| Q4 24 | -4.4% | 21.8% | ||
| Q3 24 | -3.8% | 18.1% | ||
| Q2 24 | -3.5% | 16.7% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.04 | $4.65 | ||
| Q3 25 | $0.02 | $3.86 | ||
| Q2 25 | $0.07 | $3.10 | ||
| Q1 25 | $-0.05 | $3.67 | ||
| Q4 24 | $-0.15 | $3.67 | ||
| Q3 24 | $-0.14 | $3.01 | ||
| Q2 24 | $-0.13 | $2.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $705.6M | $497.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.9M | $459.1M |
| Total Assets | $1.3B | $2.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $705.6M | — | ||
| Q4 25 | $604.2M | $497.0M | ||
| Q3 25 | $644.1M | $285.4M | ||
| Q2 25 | $503.8M | $46.3M | ||
| Q1 25 | $479.5M | $441.4M | ||
| Q4 24 | $470.6M | $669.4M | ||
| Q3 24 | $381.0M | $656.9M | ||
| Q2 24 | $363.7M | $510.9M |
| Q1 26 | — | — | ||
| Q4 25 | $323.2M | — | ||
| Q3 25 | $322.7M | — | ||
| Q2 25 | $322.3M | — | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | — | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $211.7M | — |
| Q1 26 | $206.9M | — | ||
| Q4 25 | $179.3M | $459.1M | ||
| Q3 25 | $161.9M | $293.6M | ||
| Q2 25 | $141.0M | $172.4M | ||
| Q1 25 | $108.1M | $593.6M | ||
| Q4 24 | $99.9M | $825.5M | ||
| Q3 24 | $114.5M | $881.4M | ||
| Q2 24 | $123.7M | $763.6M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.1B | $2.0B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.0B | $1.6B | ||
| Q1 25 | $895.6M | $1.9B | ||
| Q4 24 | $782.1M | $2.1B | ||
| Q3 24 | $692.3M | $2.1B | ||
| Q2 24 | $716.3M | $1.9B |
| Q1 26 | — | — | ||
| Q4 25 | 1.80× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.71× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $128.7M | $192.7M |
| Free Cash FlowOCF − Capex | — | $188.1M |
| FCF MarginFCF / Revenue | — | 26.6% |
| Capex IntensityCapex / Revenue | — | 0.6% |
| Cash ConversionOCF / Net Profit | 11.27× | 1.43× |
| TTM Free Cash FlowTrailing 4 quarters | — | $681.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $128.7M | — | ||
| Q4 25 | $-50.4M | $192.7M | ||
| Q3 25 | $144.6M | $246.2M | ||
| Q2 25 | $29.1M | $148.5M | ||
| Q1 25 | $16.6M | $125.8M | ||
| Q4 24 | $-8.7M | $190.7M | ||
| Q3 24 | $26.2M | $149.1M | ||
| Q2 24 | $23.5M | $116.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-55.4M | $188.1M | ||
| Q3 25 | $139.1M | $235.5M | ||
| Q2 25 | $21.1M | $142.4M | ||
| Q1 25 | $8.4M | $115.8M | ||
| Q4 24 | $-18.0M | $183.0M | ||
| Q3 24 | $16.9M | $138.5M | ||
| Q2 24 | $11.8M | $103.5M |
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | 26.6% | ||
| Q3 25 | 14.0% | 35.7% | ||
| Q2 25 | 2.1% | 23.6% | ||
| Q1 25 | 0.9% | 20.7% | ||
| Q4 24 | -2.6% | 34.1% | ||
| Q3 24 | 2.4% | 26.0% | ||
| Q2 24 | 1.7% | 19.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 0.6% | ||
| Q3 25 | 0.6% | 1.6% | ||
| Q2 25 | 0.8% | 1.0% | ||
| Q1 25 | 0.9% | 1.8% | ||
| Q4 24 | 1.3% | 1.4% | ||
| Q3 24 | 1.3% | 2.0% | ||
| Q2 24 | 1.7% | 2.4% |
| Q1 26 | 11.27× | — | ||
| Q4 25 | — | 1.43× | ||
| Q3 25 | 38.77× | 2.22× | ||
| Q2 25 | 1.86× | 1.65× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.63× | ||
| Q3 24 | — | 1.55× | ||
| Q2 24 | — | 1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALHC
Segment breakdown not available.
MEDP
| Metabolic | $249.8M | 35% |
| Oncology | $195.9M | 28% |
| Other | $88.3M | 12% |
| Central Nervous System | $73.2M | 10% |
| Cardiology | $63.0M | 9% |
| Antiviral And Anti Infective | $38.3M | 5% |
| Related Party | $10.3M | 1% |
