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Side-by-side financial comparison of Liberty Energy Inc. (LBRT) and Medpace Holdings, Inc. (MEDP). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $708.5M, roughly 1.4× Medpace Holdings, Inc.). Medpace Holdings, Inc. runs the higher net margin — 19.1% vs 2.2%, a 16.9% gap on every dollar of revenue. On growth, Medpace Holdings, Inc. posted the faster year-over-year revenue change (32.0% vs 4.5%). Over the past eight quarters, Medpace Holdings, Inc.'s revenue compounded faster (17.7% CAGR vs -6.2%).
Liberty Energy Inc. is a North American energy services provider specializing in hydraulic fracturing and well completion solutions for oil and gas operators. It serves clients across major U.S. shale basins, offering low-emission equipment and tailored support to optimize well productivity.
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.
LBRT vs MEDP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $708.5M |
| Net Profit | $22.6M | $135.1M |
| Gross Margin | — | — |
| Operating Margin | 2.2% | 21.6% |
| Net Margin | 2.2% | 19.1% |
| Revenue YoY | 4.5% | 32.0% |
| Net Profit YoY | — | 15.5% |
| EPS (diluted) | $0.14 | $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 | $1.0B | — | ||
| Q4 25 | $1.0B | $708.5M | ||
| Q3 25 | $947.4M | $659.9M | ||
| Q2 25 | $1.0B | $603.3M | ||
| Q1 25 | $977.5M | $558.6M | ||
| Q4 24 | $943.6M | $536.6M | ||
| Q3 24 | $1.1B | $533.3M | ||
| Q2 24 | $1.2B | $528.1M |
| Q1 26 | $22.6M | — | ||
| Q4 25 | $13.7M | $135.1M | ||
| Q3 25 | $43.1M | $111.1M | ||
| Q2 25 | $71.0M | $90.3M | ||
| Q1 25 | $20.1M | $114.6M | ||
| Q4 24 | $51.9M | $117.0M | ||
| Q3 24 | $73.8M | $96.4M | ||
| Q2 24 | $108.4M | $88.4M |
| Q1 26 | — | — | ||
| Q4 25 | 20.6% | — | ||
| Q3 25 | 18.7% | — | ||
| Q2 25 | 22.1% | — | ||
| Q1 25 | 22.1% | — | ||
| Q4 24 | 21.4% | — | ||
| Q3 24 | 26.2% | — | ||
| Q2 24 | 27.9% | — |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.9% | 21.6% | ||
| Q3 25 | -0.3% | 21.5% | ||
| Q2 25 | 3.6% | 20.9% | ||
| Q1 25 | 1.9% | 20.3% | ||
| Q4 24 | 2.6% | 23.4% | ||
| Q3 24 | 9.4% | 21.1% | ||
| Q2 24 | 12.2% | 19.9% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.3% | 19.1% | ||
| Q3 25 | 4.5% | 16.8% | ||
| Q2 25 | 6.8% | 15.0% | ||
| Q1 25 | 2.1% | 20.5% | ||
| Q4 24 | 5.5% | 21.8% | ||
| Q3 24 | 6.5% | 18.1% | ||
| Q2 24 | 9.3% | 16.7% |
| Q1 26 | $0.14 | — | ||
| Q4 25 | $0.08 | $4.65 | ||
| Q3 25 | $0.26 | $3.86 | ||
| Q2 25 | $0.43 | $3.10 | ||
| Q1 25 | $0.12 | $3.67 | ||
| Q4 24 | $0.31 | $3.67 | ||
| Q3 24 | $0.44 | $3.01 | ||
| Q2 24 | $0.64 | $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 | $699.1M | $497.0M |
| Total DebtLower is stronger | $7.1M | — |
| Stockholders' EquityBook value | $1.9B | $459.1M |
| Total Assets | $4.4B | $2.0B |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $699.1M | — | ||
| Q4 25 | $27.6M | $497.0M | ||
| Q3 25 | $13.5M | $285.4M | ||
| Q2 25 | $19.6M | $46.3M | ||
| Q1 25 | $24.1M | $441.4M | ||
| Q4 24 | $20.0M | $669.4M | ||
| Q3 24 | $23.0M | $656.9M | ||
| Q2 24 | $30.0M | $510.9M |
| Q1 26 | $7.1M | — | ||
| Q4 25 | $246.6M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $190.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.1B | $459.1M | ||
| Q3 25 | $2.1B | $293.6M | ||
| Q2 25 | $2.0B | $172.4M | ||
| Q1 25 | $2.0B | $593.6M | ||
| Q4 24 | $2.0B | $825.5M | ||
| Q3 24 | $2.0B | $881.4M | ||
| Q2 24 | $1.9B | $763.6M |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $3.6B | $2.0B | ||
| Q3 25 | $3.5B | $1.8B | ||
| Q2 25 | $3.4B | $1.6B | ||
| Q1 25 | $3.4B | $1.9B | ||
| Q4 24 | $3.3B | $2.1B | ||
| Q3 24 | $3.3B | $2.1B | ||
| Q2 24 | $3.2B | $1.9B |
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.12× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.10× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | 13.1% | 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 | $195.4M | $192.7M | ||
| Q3 25 | $51.5M | $246.2M | ||
| Q2 25 | $170.6M | $148.5M | ||
| Q1 25 | $192.1M | $125.8M | ||
| Q4 24 | $177.3M | $190.7M | ||
| Q3 24 | $244.5M | $149.1M | ||
| Q2 24 | $248.2M | $116.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-10.0M | $188.1M | ||
| Q3 25 | $-67.2M | $235.5M | ||
| Q2 25 | $33.1M | $142.4M | ||
| Q1 25 | $58.2M | $115.8M | ||
| Q4 24 | $-26.2M | $183.0M | ||
| Q3 24 | $77.9M | $138.5M | ||
| Q2 24 | $112.2M | $103.5M |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 26.6% | ||
| Q3 25 | -7.1% | 35.7% | ||
| Q2 25 | 3.2% | 23.6% | ||
| Q1 25 | 6.0% | 20.7% | ||
| Q4 24 | -2.8% | 34.1% | ||
| Q3 24 | 6.8% | 26.0% | ||
| Q2 24 | 9.7% | 19.6% |
| Q1 26 | 13.1% | — | ||
| Q4 25 | 19.8% | 0.6% | ||
| Q3 25 | 12.5% | 1.6% | ||
| Q2 25 | 13.2% | 1.0% | ||
| Q1 25 | 13.7% | 1.8% | ||
| Q4 24 | 21.6% | 1.4% | ||
| Q3 24 | 14.6% | 2.0% | ||
| Q2 24 | 11.7% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 14.28× | 1.43× | ||
| Q3 25 | 1.20× | 2.22× | ||
| Q2 25 | 2.40× | 1.65× | ||
| Q1 25 | 9.55× | 1.10× | ||
| Q4 24 | 3.42× | 1.63× | ||
| Q3 24 | 3.31× | 1.55× | ||
| Q2 24 | 2.29× | 1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LBRT
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% |
