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Side-by-side financial comparison of Medpace Holdings, Inc. (MEDP) and Perion Network Ltd. (PERI). Click either name above to swap in a different company.
Medpace Holdings, Inc. is the larger business by last-quarter revenue ($708.5M vs $368.7M, roughly 1.9× Perion Network Ltd.). Medpace Holdings, Inc. runs the higher net margin — 19.1% vs 2.1%, a 17.0% gap on every dollar of revenue. Medpace Holdings, Inc. produced more free cash flow last quarter ($188.1M vs $-2.9M). Over the past eight quarters, Medpace Holdings, Inc.'s revenue compounded faster (17.7% CAGR vs 16.4%).
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.
Perion Network Ltd. is a publicly traded advertising technology company that provides digital advertising technology solutions to advertisers, agencies, retailers, and publishers. Its core offerings are delivered through Perion One, a unified omnichannel advertising platform designed to support campaign planning, activation, optimisation, and measurement across channels and verticals including connected television (CTV), digital out-of-home (DOOH), display, video advertising, as well as retai...
MEDP vs PERI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $708.5M | $368.7M |
| Net Profit | $135.1M | $7.7M |
| Gross Margin | — | — |
| Operating Margin | 21.6% | 2.0% |
| Net Margin | 19.1% | 2.1% |
| Revenue YoY | 32.0% | — |
| Net Profit YoY | 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.
| Q4 25 | $708.5M | — | ||
| Q3 25 | $659.9M | $368.7M | ||
| Q2 25 | $603.3M | $266.5M | ||
| Q1 25 | $558.6M | $157.8M | ||
| Q4 24 | $536.6M | — | ||
| Q3 24 | $533.3M | $508.9M | ||
| Q2 24 | $528.1M | $323.6M | ||
| Q1 24 | $511.0M | $145.2M |
| Q4 25 | $135.1M | — | ||
| Q3 25 | $111.1M | $7.7M | ||
| Q2 25 | $90.3M | $5.6M | ||
| Q1 25 | $114.6M | $11.8M | ||
| Q4 24 | $117.0M | — | ||
| Q3 24 | $96.4M | $78.0M | ||
| Q2 24 | $88.4M | $45.2M | ||
| Q1 24 | $102.6M | $23.8M |
| Q4 25 | 21.6% | — | ||
| Q3 25 | 21.5% | 2.0% | ||
| Q2 25 | 20.9% | -1.7% | ||
| Q1 25 | 20.3% | 5.4% | ||
| Q4 24 | 23.4% | — | ||
| Q3 24 | 21.1% | 15.1% | ||
| Q2 24 | 19.9% | 13.7% | ||
| Q1 24 | 20.4% | 16.9% |
| Q4 25 | 19.1% | — | ||
| Q3 25 | 16.8% | 2.1% | ||
| Q2 25 | 15.0% | 2.1% | ||
| Q1 25 | 20.5% | 7.5% | ||
| Q4 24 | 21.8% | — | ||
| Q3 24 | 18.1% | 15.3% | ||
| Q2 24 | 16.7% | 14.0% | ||
| Q1 24 | 20.1% | 16.4% |
| Q4 25 | $4.65 | — | ||
| Q3 25 | $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 | $497.0M | $156.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $459.1M | $722.9M |
| Total Assets | $2.0B | $915.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $497.0M | — | ||
| Q3 25 | $285.4M | $156.2M | ||
| Q2 25 | $46.3M | $156.2M | ||
| Q1 25 | $441.4M | $156.2M | ||
| Q4 24 | $669.4M | — | ||
| Q3 24 | $656.9M | $187.6M | ||
| Q2 24 | $510.9M | $187.6M | ||
| Q1 24 | $407.0M | $187.6M |
| Q4 25 | $459.1M | — | ||
| Q3 25 | $293.6M | $722.9M | ||
| Q2 25 | $172.4M | $722.9M | ||
| Q1 25 | $593.6M | $722.9M | ||
| Q4 24 | $825.5M | — | ||
| Q3 24 | $881.4M | $718.1M | ||
| Q2 24 | $763.6M | $718.1M | ||
| Q1 24 | $671.5M | $718.1M |
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.8B | $915.5M | ||
| Q2 25 | $1.6B | $915.5M | ||
| Q1 25 | $1.9B | $915.5M | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.1B | $1.1B | ||
| Q2 24 | $1.9B | $1.1B | ||
| Q1 24 | $1.8B | $1.1B |
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 | $2.6M |
| Free Cash FlowOCF − Capex | $188.1M | $-2.9M |
| FCF MarginFCF / Revenue | 26.6% | -0.8% |
| Capex IntensityCapex / Revenue | 0.6% | 1.5% |
| Cash ConversionOCF / Net Profit | 1.43× | 0.34× |
| TTM Free Cash FlowTrailing 4 quarters | $681.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $192.7M | — | ||
| Q3 25 | $246.2M | $2.6M | ||
| Q2 25 | $148.5M | — | ||
| Q1 25 | $125.8M | — | ||
| Q4 24 | $190.7M | — | ||
| Q3 24 | $149.1M | $105.2M | ||
| Q2 24 | $116.4M | — | ||
| Q1 24 | $152.7M | $17.8M |
| Q4 25 | $188.1M | — | ||
| Q3 25 | $235.5M | $-2.9M | ||
| Q2 25 | $142.4M | — | ||
| Q1 25 | $115.8M | — | ||
| Q4 24 | $183.0M | — | ||
| Q3 24 | $138.5M | $104.7M | ||
| Q2 24 | $103.5M | — | ||
| Q1 24 | $147.2M | $17.6M |
| Q4 25 | 26.6% | — | ||
| Q3 25 | 35.7% | -0.8% | ||
| Q2 25 | 23.6% | — | ||
| Q1 25 | 20.7% | — | ||
| Q4 24 | 34.1% | — | ||
| Q3 24 | 26.0% | 20.6% | ||
| Q2 24 | 19.6% | — | ||
| Q1 24 | 28.8% | 12.2% |
| Q4 25 | 0.6% | — | ||
| Q3 25 | 1.6% | 1.5% | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 2.0% | 0.1% | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | 1.1% | 0.1% |
| Q4 25 | 1.43× | — | ||
| Q3 25 | 2.22× | 0.34× | ||
| Q2 25 | 1.65× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.63× | — | ||
| Q3 24 | 1.55× | 1.35× | ||
| Q2 24 | 1.32× | — | ||
| Q1 24 | 1.49× | 0.75× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
PERI
| Advertising Solutions | $231.4M | 63% |
| Search Advertising | $137.3M | 37% |
