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Side-by-side financial comparison of MASIMO CORP (MASI) 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 $371.5M, roughly 1.9× MASIMO CORP). Medpace Holdings, Inc. runs the higher net margin — 19.1% vs -27.0%, a 46.1% gap on every dollar of revenue. On growth, Medpace Holdings, Inc. posted the faster year-over-year revenue change (32.0% vs -26.4%). Medpace Holdings, Inc. produced more free cash flow last quarter ($188.1M vs $50.9M). Over the past eight quarters, Medpace Holdings, Inc.'s revenue compounded faster (17.7% CAGR vs -17.7%).
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
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.
MASI vs MEDP — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $371.5M | $708.5M |
| Net Profit | $-100.4M | $135.1M |
| Gross Margin | 62.1% | — |
| Operating Margin | 22.5% | 21.6% |
| Net Margin | -27.0% | 19.1% |
| Revenue YoY | -26.4% | 32.0% |
| Net Profit YoY | -1124.5% | 15.5% |
| EPS (diluted) | $-1.84 | $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 | $371.5M | $659.9M | ||
| Q2 25 | $370.9M | $603.3M | ||
| Q1 25 | $372.0M | $558.6M | ||
| Q4 24 | $600.7M | $536.6M | ||
| Q3 24 | $504.6M | $533.3M | ||
| Q2 24 | $496.3M | $528.1M | ||
| Q1 24 | $492.8M | $511.0M |
| Q4 25 | — | $135.1M | ||
| Q3 25 | $-100.4M | $111.1M | ||
| Q2 25 | $51.3M | $90.3M | ||
| Q1 25 | $-170.7M | $114.6M | ||
| Q4 24 | $-349.6M | $117.0M | ||
| Q3 24 | $9.8M | $96.4M | ||
| Q2 24 | $16.0M | $88.4M | ||
| Q1 24 | $18.9M | $102.6M |
| Q4 25 | — | — | ||
| Q3 25 | 62.1% | — | ||
| Q2 25 | 62.9% | — | ||
| Q1 25 | 62.9% | — | ||
| Q4 24 | 40.7% | — | ||
| Q3 24 | 52.2% | — | ||
| Q2 24 | 51.3% | — | ||
| Q1 24 | 49.0% | — |
| Q4 25 | — | 21.6% | ||
| Q3 25 | 22.5% | 21.5% | ||
| Q2 25 | 17.4% | 20.9% | ||
| Q1 25 | 21.0% | 20.3% | ||
| Q4 24 | -59.8% | 23.4% | ||
| Q3 24 | 6.0% | 21.1% | ||
| Q2 24 | 5.7% | 19.9% | ||
| Q1 24 | 6.9% | 20.4% |
| Q4 25 | — | 19.1% | ||
| Q3 25 | -27.0% | 16.8% | ||
| Q2 25 | 13.8% | 15.0% | ||
| Q1 25 | -45.9% | 20.5% | ||
| Q4 24 | -58.2% | 21.8% | ||
| Q3 24 | 1.9% | 18.1% | ||
| Q2 24 | 3.2% | 16.7% | ||
| Q1 24 | 3.8% | 20.1% |
| Q4 25 | — | $4.65 | ||
| Q3 25 | $-1.84 | $3.86 | ||
| Q2 25 | $0.94 | $3.10 | ||
| Q1 25 | $-3.12 | $3.67 | ||
| Q4 24 | $-6.54 | $3.67 | ||
| Q3 24 | $0.18 | $3.01 | ||
| Q2 24 | $0.29 | $2.75 | ||
| Q1 24 | $0.35 | $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 | $312.3M | $497.0M |
| Total DebtLower is stronger | $559.1M | — |
| Stockholders' EquityBook value | $810.0M | $459.1M |
| Total Assets | $1.8B | $2.0B |
| Debt / EquityLower = less leverage | 0.69× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $497.0M | ||
| Q3 25 | $312.3M | $285.4M | ||
| Q2 25 | $149.6M | $46.3M | ||
| Q1 25 | $130.8M | $441.4M | ||
| Q4 24 | $177.6M | $669.4M | ||
| Q3 24 | $158.5M | $656.9M | ||
| Q2 24 | $129.6M | $510.9M | ||
| Q1 24 | $157.6M | $407.0M |
| Q4 25 | — | — | ||
| Q3 25 | $559.1M | — | ||
| Q2 25 | $613.7M | — | ||
| Q1 25 | $651.0M | — | ||
| Q4 24 | $765.2M | — | ||
| Q3 24 | $772.6M | — | ||
| Q2 24 | $781.6M | — | ||
| Q1 24 | $876.0M | — |
| Q4 25 | — | $459.1M | ||
| Q3 25 | $810.0M | $293.6M | ||
| Q2 25 | $1.0B | $172.4M | ||
| Q1 25 | $946.4M | $593.6M | ||
| Q4 24 | $1.1B | $825.5M | ||
| Q3 24 | $1.5B | $881.4M | ||
| Q2 24 | $1.4B | $763.6M | ||
| Q1 24 | $1.4B | $671.5M |
| Q4 25 | — | $2.0B | ||
| Q3 25 | $1.8B | $1.8B | ||
| Q2 25 | $2.4B | $1.6B | ||
| Q1 25 | $2.3B | $1.9B | ||
| Q4 24 | $2.6B | $2.1B | ||
| Q3 24 | $3.1B | $2.1B | ||
| Q2 24 | $2.9B | $1.9B | ||
| Q1 24 | $3.0B | $1.8B |
| Q4 25 | — | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.59× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.57× | — | ||
| Q1 24 | 0.64× | — |
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 | $56.8M | $192.7M |
| Free Cash FlowOCF − Capex | $50.9M | $188.1M |
| FCF MarginFCF / Revenue | 13.7% | 26.6% |
| Capex IntensityCapex / Revenue | 1.6% | 0.6% |
| Cash ConversionOCF / Net Profit | — | 1.43× |
| TTM Free Cash FlowTrailing 4 quarters | $191.0M | $681.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $192.7M | ||
| Q3 25 | $56.8M | $246.2M | ||
| Q2 25 | $69.4M | $148.5M | ||
| Q1 25 | $31.1M | $125.8M | ||
| Q4 24 | $50.5M | $190.7M | ||
| Q3 24 | $25.6M | $149.1M | ||
| Q2 24 | $74.5M | $116.4M | ||
| Q1 24 | $45.8M | $152.7M |
| Q4 25 | — | $188.1M | ||
| Q3 25 | $50.9M | $235.5M | ||
| Q2 25 | $65.6M | $142.4M | ||
| Q1 25 | $28.5M | $115.8M | ||
| Q4 24 | $46.0M | $183.0M | ||
| Q3 24 | $16.9M | $138.5M | ||
| Q2 24 | $66.9M | $103.5M | ||
| Q1 24 | $37.6M | $147.2M |
| Q4 25 | — | 26.6% | ||
| Q3 25 | 13.7% | 35.7% | ||
| Q2 25 | 17.7% | 23.6% | ||
| Q1 25 | 7.7% | 20.7% | ||
| Q4 24 | 7.7% | 34.1% | ||
| Q3 24 | 3.3% | 26.0% | ||
| Q2 24 | 13.5% | 19.6% | ||
| Q1 24 | 7.6% | 28.8% |
| Q4 25 | — | 0.6% | ||
| Q3 25 | 1.6% | 1.6% | ||
| Q2 25 | 1.0% | 1.0% | ||
| Q1 25 | 0.7% | 1.8% | ||
| Q4 24 | 0.7% | 1.4% | ||
| Q3 24 | 1.7% | 2.0% | ||
| Q2 24 | 1.5% | 2.4% | ||
| Q1 24 | 1.7% | 1.1% |
| Q4 25 | — | 1.43× | ||
| Q3 25 | — | 2.22× | ||
| Q2 25 | 1.35× | 1.65× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.63× | ||
| Q3 24 | 2.61× | 1.55× | ||
| Q2 24 | 4.66× | 1.32× | ||
| Q1 24 | 2.42× | 1.49× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MASI
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% |
