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Side-by-side financial comparison of EXELIXIS, INC. (EXEL) 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 $598.7M, roughly 1.2× EXELIXIS, INC.). EXELIXIS, INC. runs the higher net margin — 40.8% vs 19.1%, a 21.8% gap on every dollar of revenue. On growth, Medpace Holdings, Inc. posted the faster year-over-year revenue change (32.0% vs 5.6%). EXELIXIS, INC. produced more free cash flow last quarter ($332.4M vs $188.1M). Over the past eight quarters, EXELIXIS, INC.'s revenue compounded faster (18.7% CAGR vs 17.7%).
Exelixis, Inc. is a genomics-based drug discovery company located in Alameda, California, and the producer of Cometriq, a treatment approved by the U.S. Food and Drug Administration (FDA) for medullary thyroid cancer with clinical activity in several other types of metastatic cancer.
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.
EXEL vs MEDP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $598.7M | $708.5M |
| Net Profit | $244.5M | $135.1M |
| Gross Margin | 95.6% | — |
| Operating Margin | 39.3% | 21.6% |
| Net Margin | 40.8% | 19.1% |
| Revenue YoY | 5.6% | 32.0% |
| Net Profit YoY | 74.8% | 15.5% |
| EPS (diluted) | $0.89 | $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 | $598.7M | — | ||
| Q4 25 | $597.8M | $708.5M | ||
| Q3 25 | $568.3M | $659.9M | ||
| Q2 25 | $555.4M | $603.3M | ||
| Q1 25 | $566.8M | $558.6M | ||
| Q4 24 | — | $536.6M | ||
| Q3 24 | $539.5M | $533.3M | ||
| Q2 24 | $637.2M | $528.1M |
| Q1 26 | $244.5M | — | ||
| Q4 25 | $193.6M | $135.1M | ||
| Q3 25 | $184.8M | $111.1M | ||
| Q2 25 | $159.6M | $90.3M | ||
| Q1 25 | $139.9M | $114.6M | ||
| Q4 24 | — | $117.0M | ||
| Q3 24 | $118.0M | $96.4M | ||
| Q2 24 | $226.1M | $88.4M |
| Q1 26 | 95.6% | — | ||
| Q4 25 | 96.9% | — | ||
| Q3 25 | 96.6% | — | ||
| Q2 25 | 96.5% | — | ||
| Q1 25 | 96.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 96.8% | — | ||
| Q2 24 | 97.2% | — |
| Q1 26 | 39.3% | — | ||
| Q4 25 | 39.6% | 21.6% | ||
| Q3 25 | 37.6% | 21.5% | ||
| Q2 25 | 33.6% | 20.9% | ||
| Q1 25 | 28.8% | 20.3% | ||
| Q4 24 | — | 23.4% | ||
| Q3 24 | 25.2% | 21.1% | ||
| Q2 24 | 43.3% | 19.9% |
| Q1 26 | 40.8% | — | ||
| Q4 25 | 32.4% | 19.1% | ||
| Q3 25 | 32.5% | 16.8% | ||
| Q2 25 | 28.7% | 15.0% | ||
| Q1 25 | 24.7% | 20.5% | ||
| Q4 24 | — | 21.8% | ||
| Q3 24 | 21.9% | 18.1% | ||
| Q2 24 | 35.5% | 16.7% |
| Q1 26 | $0.89 | — | ||
| Q4 25 | $0.69 | $4.65 | ||
| Q3 25 | $0.65 | $3.86 | ||
| Q2 25 | $0.55 | $3.10 | ||
| Q1 25 | $0.47 | $3.67 | ||
| Q4 24 | — | $3.67 | ||
| Q3 24 | $0.40 | $3.01 | ||
| Q2 24 | $0.77 | $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 | $1.1B | $497.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.2B | $459.1M |
| Total Assets | $2.8B | $2.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.1B | — | ||
| Q4 25 | $988.5M | $497.0M | ||
| Q3 25 | $791.1M | $285.4M | ||
| Q2 25 | $1.0B | $46.3M | ||
| Q1 25 | $1.1B | $441.4M | ||
| Q4 24 | — | $669.4M | ||
| Q3 24 | $1.2B | $656.9M | ||
| Q2 24 | $1.0B | $510.9M |
| Q1 26 | $2.2B | — | ||
| Q4 25 | $2.2B | $459.1M | ||
| Q3 25 | $2.0B | $293.6M | ||
| Q2 25 | $2.1B | $172.4M | ||
| Q1 25 | $2.2B | $593.6M | ||
| Q4 24 | — | $825.5M | ||
| Q3 24 | $2.3B | $881.4M | ||
| Q2 24 | $2.1B | $763.6M |
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.8B | $2.0B | ||
| Q3 25 | $2.7B | $1.8B | ||
| Q2 25 | $2.8B | $1.6B | ||
| Q1 25 | $2.9B | $1.9B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | $3.0B | $2.1B | ||
| Q2 24 | $2.8B | $1.9B |
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 | $333.5M | $192.7M |
| Free Cash FlowOCF − Capex | $332.4M | $188.1M |
| FCF MarginFCF / Revenue | 55.5% | 26.6% |
| Capex IntensityCapex / Revenue | 0.2% | 0.6% |
| Cash ConversionOCF / Net Profit | 1.36× | 1.43× |
| TTM Free Cash FlowTrailing 4 quarters | $875.8M | $681.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $333.5M | — | ||
| Q4 25 | $290.3M | $192.7M | ||
| Q3 25 | $49.0M | $246.2M | ||
| Q2 25 | $211.4M | $148.5M | ||
| Q1 25 | $240.3M | $125.8M | ||
| Q4 24 | — | $190.7M | ||
| Q3 24 | $271.3M | $149.1M | ||
| Q2 24 | $119.5M | $116.4M |
| Q1 26 | $332.4M | — | ||
| Q4 25 | $288.8M | $188.1M | ||
| Q3 25 | $46.2M | $235.5M | ||
| Q2 25 | $208.5M | $142.4M | ||
| Q1 25 | $236.3M | $115.8M | ||
| Q4 24 | — | $183.0M | ||
| Q3 24 | $263.1M | $138.5M | ||
| Q2 24 | $113.0M | $103.5M |
| Q1 26 | 55.5% | — | ||
| Q4 25 | 48.3% | 26.6% | ||
| Q3 25 | 8.1% | 35.7% | ||
| Q2 25 | 37.5% | 23.6% | ||
| Q1 25 | 41.7% | 20.7% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | 48.8% | 26.0% | ||
| Q2 24 | 17.7% | 19.6% |
| Q1 26 | 0.2% | — | ||
| Q4 25 | 0.2% | 0.6% | ||
| Q3 25 | 0.5% | 1.6% | ||
| Q2 25 | 0.5% | 1.0% | ||
| Q1 25 | 0.7% | 1.8% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 1.5% | 2.0% | ||
| Q2 24 | 1.0% | 2.4% |
| Q1 26 | 1.36× | — | ||
| Q4 25 | 1.50× | 1.43× | ||
| Q3 25 | 0.27× | 2.22× | ||
| Q2 25 | 1.32× | 1.65× | ||
| Q1 25 | 1.72× | 1.10× | ||
| Q4 24 | — | 1.63× | ||
| Q3 24 | 2.30× | 1.55× | ||
| Q2 24 | 0.53× | 1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EXEL
| Cabometyx | $544.7M | 91% |
| Collaboration | $52.1M | 9% |
| Collaborative Arrangementwith Takeda | $5.9M | 1% |
| Cometriq | $1.8M | 0% |
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% |
