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Side-by-side financial comparison of Clearwater Paper Corp (CLW) and Medpace Holdings, Inc. (MEDP). Click either name above to swap in a different company.
Medpace Holdings, Inc. is the larger business by last-quarter revenue ($708.5M vs $360.3M, roughly 2.0× Clearwater Paper Corp). Medpace Holdings, Inc. runs the higher net margin — 19.1% vs -3.6%, a 22.6% gap on every dollar of revenue. On growth, Medpace Holdings, Inc. posted the faster year-over-year revenue change (32.0% vs -4.7%). Over the past eight quarters, Medpace Holdings, Inc.'s revenue compounded faster (17.7% CAGR vs 2.3%).
Clearwater Paper Corporation is an American pulp and paperboard manufacturer. The company was created on December 9, 2008, via a spin-off from Potlatch Corporation and is headquartered in Spokane, Washington.
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.
CLW vs MEDP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $360.3M | $708.5M |
| Net Profit | $-12.8M | $135.1M |
| Gross Margin | -0.2% | — |
| Operating Margin | — | 21.6% |
| Net Margin | -3.6% | 19.1% |
| Revenue YoY | -4.7% | 32.0% |
| Net Profit YoY | -103.2% | 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 | $360.3M | — | ||
| Q4 25 | $386.4M | $708.5M | ||
| Q3 25 | $399.0M | $659.9M | ||
| Q2 25 | $391.8M | $603.3M | ||
| Q1 25 | $378.2M | $558.6M | ||
| Q4 24 | $387.1M | $536.6M | ||
| Q3 24 | $393.3M | $533.3M | ||
| Q2 24 | $344.4M | $528.1M |
| Q1 26 | $-12.8M | — | ||
| Q4 25 | $38.3M | $135.1M | ||
| Q3 25 | $-53.3M | $111.1M | ||
| Q2 25 | $2.7M | $90.3M | ||
| Q1 25 | $-6.3M | $114.6M | ||
| Q4 24 | $199.1M | $117.0M | ||
| Q3 24 | $5.8M | $96.4M | ||
| Q2 24 | $-25.8M | $88.4M |
| Q1 26 | -0.2% | — | ||
| Q4 25 | 4.5% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 11.0% | — | ||
| Q1 25 | 9.7% | — | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | 7.7% | — | ||
| Q2 24 | -0.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 21.6% | ||
| Q3 25 | -13.9% | 21.5% | ||
| Q2 25 | 2.5% | 20.9% | ||
| Q1 25 | -1.1% | 20.3% | ||
| Q4 24 | -4.0% | 23.4% | ||
| Q3 24 | -0.3% | 21.1% | ||
| Q2 24 | -13.6% | 19.9% |
| Q1 26 | -3.6% | — | ||
| Q4 25 | 9.9% | 19.1% | ||
| Q3 25 | -13.4% | 16.8% | ||
| Q2 25 | 0.7% | 15.0% | ||
| Q1 25 | -1.7% | 20.5% | ||
| Q4 24 | 51.4% | 21.8% | ||
| Q3 24 | 1.5% | 18.1% | ||
| Q2 24 | -7.5% | 16.7% |
| Q1 26 | — | — | ||
| Q4 25 | $2.36 | $4.65 | ||
| Q3 25 | $-3.30 | $3.86 | ||
| Q2 25 | $0.17 | $3.10 | ||
| Q1 25 | $-0.38 | $3.67 | ||
| Q4 24 | $11.87 | $3.67 | ||
| Q3 24 | $0.35 | $3.01 | ||
| Q2 24 | $-1.55 | $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 | $36.5M | $497.0M |
| Total DebtLower is stronger | $361.1M | — |
| Stockholders' EquityBook value | $813.8M | $459.1M |
| Total Assets | $1.6B | $2.0B |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.5M | — | ||
| Q4 25 | $30.7M | $497.0M | ||
| Q3 25 | $34.4M | $285.4M | ||
| Q2 25 | $46.7M | $46.3M | ||
| Q1 25 | $44.0M | $441.4M | ||
| Q4 24 | $79.6M | $669.4M | ||
| Q3 24 | $35.5M | $656.9M | ||
| Q2 24 | $39.6M | $510.9M |
| Q1 26 | $361.1M | — | ||
| Q4 25 | $346.8M | — | ||
| Q3 25 | $337.0M | — | ||
| Q2 25 | $330.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $283.4M | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — |
| Q1 26 | $813.8M | — | ||
| Q4 25 | $825.3M | $459.1M | ||
| Q3 25 | $783.0M | $293.6M | ||
| Q2 25 | $836.8M | $172.4M | ||
| Q1 25 | $836.6M | $593.6M | ||
| Q4 24 | $854.6M | $825.5M | ||
| Q3 24 | $664.6M | $881.4M | ||
| Q2 24 | $658.6M | $763.6M |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $2.0B | ||
| Q3 25 | $1.6B | $1.8B | ||
| Q2 25 | $1.6B | $1.6B | ||
| Q1 25 | $1.6B | $1.9B | ||
| Q4 24 | $1.7B | $2.1B | ||
| Q3 24 | $2.5B | $2.1B | ||
| Q2 24 | $2.5B | $1.9B |
| Q1 26 | 0.44× | — | ||
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.39× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 1.73× | — | ||
| Q2 24 | 1.74× | — |
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 | — | $192.7M |
| Free Cash FlowOCF − Capex | — | $188.1M |
| FCF MarginFCF / Revenue | — | 26.6% |
| Capex IntensityCapex / Revenue | — | 0.6% |
| Cash ConversionOCF / Net Profit | — | 1.43× |
| TTM Free Cash FlowTrailing 4 quarters | — | $681.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $5.0M | $192.7M | ||
| Q3 25 | $34.0M | $246.2M | ||
| Q2 25 | $-28.2M | $148.5M | ||
| Q1 25 | $1.5M | $125.8M | ||
| Q4 24 | $-35.1M | $190.7M | ||
| Q3 24 | $16.2M | $149.1M | ||
| Q2 24 | $21.1M | $116.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-9.9M | $188.1M | ||
| Q3 25 | $15.7M | $235.5M | ||
| Q2 25 | $-51.1M | $142.4M | ||
| Q1 25 | $-31.2M | $115.8M | ||
| Q4 24 | $-68.1M | $183.0M | ||
| Q3 24 | $-30.8M | $138.5M | ||
| Q2 24 | $3.0M | $103.5M |
| Q1 26 | — | — | ||
| Q4 25 | -2.6% | 26.6% | ||
| Q3 25 | 3.9% | 35.7% | ||
| Q2 25 | -13.0% | 23.6% | ||
| Q1 25 | -8.2% | 20.7% | ||
| Q4 24 | -17.6% | 34.1% | ||
| Q3 24 | -7.8% | 26.0% | ||
| Q2 24 | 0.9% | 19.6% |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 0.6% | ||
| Q3 25 | 4.6% | 1.6% | ||
| Q2 25 | 5.8% | 1.0% | ||
| Q1 25 | 8.6% | 1.8% | ||
| Q4 24 | 8.5% | 1.4% | ||
| Q3 24 | 12.0% | 2.0% | ||
| Q2 24 | 5.3% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | 1.43× | ||
| Q3 25 | — | 2.22× | ||
| Q2 25 | -10.44× | 1.65× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | -0.18× | 1.63× | ||
| Q3 24 | 2.79× | 1.55× | ||
| Q2 24 | — | 1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLW
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% |
