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Side-by-side financial comparison of Medpace Holdings, Inc. (MEDP) and Principal Financial Group (PFG). Click either name above to swap in a different company.
Principal Financial Group is the larger business by last-quarter revenue ($4.6B vs $708.5M, roughly 6.5× Medpace Holdings, Inc.). Medpace Holdings, Inc. runs the higher net margin — 19.1% vs 11.3%, a 7.8% gap on every dollar of revenue. On growth, Medpace Holdings, Inc. posted the faster year-over-year revenue change (32.0% vs -3.7%). Over the past eight quarters, Medpace Holdings, Inc.'s revenue compounded faster (17.7% CAGR vs 6.3%).
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.
Principal Financial GroupPFGEarnings & Financial Report
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States.
MEDP vs PFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $708.5M | $4.6B |
| Net Profit | $135.1M | $517.0M |
| Gross Margin | — | — |
| Operating Margin | 21.6% | — |
| Net Margin | 19.1% | 11.3% |
| Revenue YoY | 32.0% | -3.7% |
| Net Profit YoY | 15.5% | -42.9% |
| EPS (diluted) | $4.65 | $2.30 |
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 | $4.6B | ||
| Q3 25 | $659.9M | $3.7B | ||
| Q2 25 | $603.3M | $3.7B | ||
| Q1 25 | $558.6M | $3.7B | ||
| Q4 24 | $536.6M | $4.8B | ||
| Q3 24 | $533.3M | $3.0B | ||
| Q2 24 | $528.1M | $4.3B | ||
| Q1 24 | $511.0M | $4.1B |
| Q4 25 | $135.1M | $517.0M | ||
| Q3 25 | $111.1M | $213.8M | ||
| Q2 25 | $90.3M | $406.2M | ||
| Q1 25 | $114.6M | $48.1M | ||
| Q4 24 | $117.0M | $905.4M | ||
| Q3 24 | $96.4M | $-220.0M | ||
| Q2 24 | $88.4M | $353.1M | ||
| Q1 24 | $102.6M | $532.5M |
| Q4 25 | 21.6% | — | ||
| Q3 25 | 21.5% | — | ||
| Q2 25 | 20.9% | — | ||
| Q1 25 | 20.3% | — | ||
| Q4 24 | 23.4% | — | ||
| Q3 24 | 21.1% | — | ||
| Q2 24 | 19.9% | — | ||
| Q1 24 | 20.4% | — |
| Q4 25 | 19.1% | 11.3% | ||
| Q3 25 | 16.8% | 5.8% | ||
| Q2 25 | 15.0% | 11.1% | ||
| Q1 25 | 20.5% | 1.3% | ||
| Q4 24 | 21.8% | 19.1% | ||
| Q3 24 | 18.1% | -7.3% | ||
| Q2 24 | 16.7% | 8.2% | ||
| Q1 24 | 20.1% | 13.1% |
| Q4 25 | $4.65 | $2.30 | ||
| Q3 25 | $3.86 | $0.95 | ||
| Q2 25 | $3.10 | $1.79 | ||
| Q1 25 | $3.67 | $0.21 | ||
| Q4 24 | $3.67 | $3.92 | ||
| Q3 24 | $3.01 | $-0.95 | ||
| Q2 24 | $2.75 | $1.49 | ||
| Q1 24 | $3.20 | $2.22 |
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 | $4.4B |
| Total DebtLower is stronger | — | $3.9B |
| Stockholders' EquityBook value | $459.1M | $11.9B |
| Total Assets | $2.0B | $341.4B |
| Debt / EquityLower = less leverage | — | 0.33× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $497.0M | $4.4B | ||
| Q3 25 | $285.4M | $5.1B | ||
| Q2 25 | $46.3M | $3.7B | ||
| Q1 25 | $441.4M | $3.9B | ||
| Q4 24 | $669.4M | $4.2B | ||
| Q3 24 | $656.9M | $6.2B | ||
| Q2 24 | $510.9M | $4.8B | ||
| Q1 24 | $407.0M | $4.2B |
| Q4 25 | — | $3.9B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $3.9B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | — | $3.9B |
| Q4 25 | $459.1M | $11.9B | ||
| Q3 25 | $293.6M | $11.7B | ||
| Q2 25 | $172.4M | $11.4B | ||
| Q1 25 | $593.6M | $11.2B | ||
| Q4 24 | $825.5M | $11.1B | ||
| Q3 24 | $881.4M | $11.2B | ||
| Q2 24 | $763.6M | $11.0B | ||
| Q1 24 | $671.5M | $11.2B |
| Q4 25 | $2.0B | $341.4B | ||
| Q3 25 | $1.8B | $334.5B | ||
| Q2 25 | $1.6B | $323.1B | ||
| Q1 25 | $1.9B | $313.0B | ||
| Q4 24 | $2.1B | $313.7B | ||
| Q3 24 | $2.1B | $322.9B | ||
| Q2 24 | $1.9B | $308.8B | ||
| Q1 24 | $1.8B | $308.7B |
| Q4 25 | — | 0.33× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.36× | ||
| Q1 24 | — | 0.35× |
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 | $1.7B |
| Free Cash FlowOCF − Capex | $188.1M | — |
| FCF MarginFCF / Revenue | 26.6% | — |
| Capex IntensityCapex / Revenue | 0.6% | — |
| Cash ConversionOCF / Net Profit | 1.43× | 3.37× |
| TTM Free Cash FlowTrailing 4 quarters | $681.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $192.7M | $1.7B | ||
| Q3 25 | $246.2M | $1.0B | ||
| Q2 25 | $148.5M | $811.9M | ||
| Q1 25 | $125.8M | $977.3M | ||
| Q4 24 | $190.7M | $1.5B | ||
| Q3 24 | $149.1M | $1.1B | ||
| Q2 24 | $116.4M | $1.4B | ||
| Q1 24 | $152.7M | $584.2M |
| Q4 25 | $188.1M | — | ||
| Q3 25 | $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 | 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 | 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× | 3.37× | ||
| Q3 25 | 2.22× | 4.70× | ||
| Q2 25 | 1.65× | 2.00× | ||
| Q1 25 | 1.10× | 20.32× | ||
| Q4 24 | 1.63× | 1.61× | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 1.32× | 4.05× | ||
| Q1 24 | 1.49× | 1.10× |
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% |
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
