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Side-by-side financial comparison of Legence Corp. (LGN) 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 $708.0M, roughly 1.0× Legence Corp.). Medpace Holdings, Inc. runs the higher net margin — 19.1% vs -0.1%, a 19.2% gap on every dollar of revenue. On growth, Medpace Holdings, Inc. posted the faster year-over-year revenue change (32.0% vs 26.2%). Medpace Holdings, Inc. produced more free cash flow last quarter ($188.1M vs $137.4M).
Legence Corp is a leading sustainable building and decarbonization solution provider. It delivers energy efficiency optimization, building automation design, renewable energy integration, and low-carbon retrofit services for commercial, industrial, and institutional clients, with core operations across North America to help customers cut costs and reduce carbon footprints.
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.
LGN vs MEDP — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $708.0M | $708.5M |
| Net Profit | $-576.0K | $135.1M |
| Gross Margin | 20.9% | — |
| Operating Margin | 5.3% | 21.6% |
| Net Margin | -0.1% | 19.1% |
| Revenue YoY | 26.2% | 32.0% |
| Net Profit YoY | 46.8% | 15.5% |
| EPS (diluted) | $-0.02 | $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.
| Q4 25 | — | $708.5M | ||
| Q3 25 | $708.0M | $659.9M | ||
| Q2 25 | — | $603.3M | ||
| Q1 25 | — | $558.6M | ||
| Q4 24 | — | $536.6M | ||
| Q3 24 | $560.8M | $533.3M | ||
| Q2 24 | — | $528.1M | ||
| Q1 24 | — | $511.0M |
| Q4 25 | — | $135.1M | ||
| Q3 25 | $-576.0K | $111.1M | ||
| Q2 25 | — | $90.3M | ||
| Q1 25 | — | $114.6M | ||
| Q4 24 | — | $117.0M | ||
| Q3 24 | $-1.1M | $96.4M | ||
| Q2 24 | — | $88.4M | ||
| Q1 24 | — | $102.6M |
| Q4 25 | — | — | ||
| Q3 25 | 20.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 21.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 21.6% | ||
| Q3 25 | 5.3% | 21.5% | ||
| Q2 25 | — | 20.9% | ||
| Q1 25 | — | 20.3% | ||
| Q4 24 | — | 23.4% | ||
| Q3 24 | 4.8% | 21.1% | ||
| Q2 24 | — | 19.9% | ||
| Q1 24 | — | 20.4% |
| Q4 25 | — | 19.1% | ||
| Q3 25 | -0.1% | 16.8% | ||
| Q2 25 | — | 15.0% | ||
| Q1 25 | — | 20.5% | ||
| Q4 24 | — | 21.8% | ||
| Q3 24 | -0.2% | 18.1% | ||
| Q2 24 | — | 16.7% | ||
| Q1 24 | — | 20.1% |
| Q4 25 | — | $4.65 | ||
| Q3 25 | $-0.02 | $3.86 | ||
| Q2 25 | — | $3.10 | ||
| Q1 25 | — | $3.67 | ||
| Q4 24 | — | $3.67 | ||
| Q3 24 | — | $3.01 | ||
| Q2 24 | — | $2.75 | ||
| Q1 24 | — | $3.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $176.0M | $497.0M |
| Total DebtLower is stronger | $812.6M | — |
| Stockholders' EquityBook value | $387.9M | $459.1M |
| Total Assets | $2.6B | $2.0B |
| Debt / EquityLower = less leverage | 2.10× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $497.0M | ||
| Q3 25 | $176.0M | $285.4M | ||
| Q2 25 | — | $46.3M | ||
| Q1 25 | — | $441.4M | ||
| Q4 24 | — | $669.4M | ||
| Q3 24 | — | $656.9M | ||
| Q2 24 | — | $510.9M | ||
| Q1 24 | — | $407.0M |
| Q4 25 | — | — | ||
| Q3 25 | $812.6M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $459.1M | ||
| Q3 25 | $387.9M | $293.6M | ||
| Q2 25 | — | $172.4M | ||
| Q1 25 | — | $593.6M | ||
| Q4 24 | — | $825.5M | ||
| Q3 24 | — | $881.4M | ||
| Q2 24 | — | $763.6M | ||
| Q1 24 | — | $671.5M |
| Q4 25 | — | $2.0B | ||
| Q3 25 | $2.6B | $1.8B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $1.8B |
| Q4 25 | — | — | ||
| Q3 25 | 2.10× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $162.1M | $192.7M |
| Free Cash FlowOCF − Capex | $137.4M | $188.1M |
| FCF MarginFCF / Revenue | 19.4% | 26.6% |
| Capex IntensityCapex / Revenue | 3.5% | 0.6% |
| Cash ConversionOCF / Net Profit | — | 1.43× |
| TTM Free Cash FlowTrailing 4 quarters | — | $681.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $192.7M | ||
| Q3 25 | $162.1M | $246.2M | ||
| Q2 25 | — | $148.5M | ||
| Q1 25 | — | $125.8M | ||
| Q4 24 | — | $190.7M | ||
| Q3 24 | — | $149.1M | ||
| Q2 24 | — | $116.4M | ||
| Q1 24 | — | $152.7M |
| Q4 25 | — | $188.1M | ||
| Q3 25 | $137.4M | $235.5M | ||
| Q2 25 | — | $142.4M | ||
| Q1 25 | — | $115.8M | ||
| Q4 24 | — | $183.0M | ||
| Q3 24 | — | $138.5M | ||
| Q2 24 | — | $103.5M | ||
| Q1 24 | — | $147.2M |
| Q4 25 | — | 26.6% | ||
| Q3 25 | 19.4% | 35.7% | ||
| Q2 25 | — | 23.6% | ||
| Q1 25 | — | 20.7% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | — | 26.0% | ||
| Q2 24 | — | 19.6% | ||
| Q1 24 | — | 28.8% |
| Q4 25 | — | 0.6% | ||
| Q3 25 | 3.5% | 1.6% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 2.4% | ||
| Q1 24 | — | 1.1% |
| Q4 25 | — | 1.43× | ||
| Q3 25 | — | 2.22× | ||
| Q2 25 | — | 1.65× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.63× | ||
| Q3 24 | — | 1.55× | ||
| Q2 24 | — | 1.32× | ||
| Q1 24 | — | 1.49× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LGN
| Installation And Fabrication | $408.7M | 58% |
| Engineering And Design | $110.9M | 16% |
| Program And Project Management | $101.2M | 14% |
| Maintenance And Service | $87.1M | 12% |
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% |
