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Side-by-side financial comparison of Medpace Holdings, Inc. (MEDP) and Royalty Pharma plc (RPRX). Click either name above to swap in a different company.
Medpace Holdings, Inc. is the larger business by last-quarter revenue ($708.5M vs $622.0M, roughly 1.1× Royalty Pharma plc). Royalty Pharma plc runs the higher net margin — 34.4% vs 19.1%, a 15.4% gap on every dollar of revenue. On growth, Medpace Holdings, Inc. posted the faster year-over-year revenue change (32.0% vs 4.8%). Over the past eight quarters, Medpace Holdings, Inc.'s revenue compounded faster (17.7% CAGR vs 4.6%).
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.
Acceleron Pharma, Inc. is an American clinical stage biopharmaceutical company based in Cambridge, Massachusetts with a broad focus on developing medicines that regulate the transforming growth factor beta (TGF-β) superfamily of proteins, which play fundamental roles in the growth and repair of cells and tissues such as red blood cells, muscle, bone, and blood vessels.
MEDP vs RPRX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $708.5M | $622.0M |
| Net Profit | $135.1M | $214.2M |
| Gross Margin | — | — |
| Operating Margin | 21.6% | 62.4% |
| Net Margin | 19.1% | 34.4% |
| Revenue YoY | 32.0% | 4.8% |
| Net Profit YoY | 15.5% | 2.9% |
| EPS (diluted) | $4.65 | $0.49 |
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 | $622.0M | ||
| Q3 25 | $659.9M | $609.3M | ||
| Q2 25 | $603.3M | $578.7M | ||
| Q1 25 | $558.6M | $568.2M | ||
| Q4 24 | $536.6M | $593.6M | ||
| Q3 24 | $533.3M | $564.7M | ||
| Q2 24 | $528.1M | $537.3M | ||
| Q1 24 | $511.0M | $568.0M |
| Q4 25 | $135.1M | $214.2M | ||
| Q3 25 | $111.1M | $288.2M | ||
| Q2 25 | $90.3M | $30.2M | ||
| Q1 25 | $114.6M | $238.3M | ||
| Q4 24 | $117.0M | $208.2M | ||
| Q3 24 | $96.4M | $544.0M | ||
| Q2 24 | $88.4M | $102.0M | ||
| Q1 24 | $102.6M | $4.8M |
| Q4 25 | 21.6% | 62.4% | ||
| Q3 25 | 21.5% | 70.1% | ||
| Q2 25 | 20.9% | 36.3% | ||
| Q1 25 | 20.3% | 94.0% | ||
| Q4 24 | 23.4% | 60.9% | ||
| Q3 24 | 21.1% | — | ||
| Q2 24 | 19.9% | 50.2% | ||
| Q1 24 | 20.4% | -13.0% |
| Q4 25 | 19.1% | 34.4% | ||
| Q3 25 | 16.8% | 47.3% | ||
| Q2 25 | 15.0% | 5.2% | ||
| Q1 25 | 20.5% | 41.9% | ||
| Q4 24 | 21.8% | 35.1% | ||
| Q3 24 | 18.1% | 96.3% | ||
| Q2 24 | 16.7% | 19.0% | ||
| Q1 24 | 20.1% | 0.8% |
| Q4 25 | $4.65 | $0.49 | ||
| Q3 25 | $3.86 | $0.67 | ||
| Q2 25 | $3.10 | $0.07 | ||
| Q1 25 | $3.67 | $0.55 | ||
| Q4 24 | $3.67 | $0.46 | ||
| Q3 24 | $3.01 | $1.21 | ||
| Q2 24 | $2.75 | $0.23 | ||
| Q1 24 | $3.20 | $0.01 |
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 | $618.7M |
| Total DebtLower is stronger | — | $9.0B |
| Stockholders' EquityBook value | $459.1M | $9.7B |
| Total Assets | $2.0B | $19.6B |
| Debt / EquityLower = less leverage | — | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $497.0M | $618.7M | ||
| Q3 25 | $285.4M | $938.9M | ||
| Q2 25 | $46.3M | $631.9M | ||
| Q1 25 | $441.4M | $1.1B | ||
| Q4 24 | $669.4M | $929.0M | ||
| Q3 24 | $656.9M | $950.1M | ||
| Q2 24 | $510.9M | $1.8B | ||
| Q1 24 | $407.0M | $843.0M |
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
| Q4 25 | $459.1M | $9.7B | ||
| Q3 25 | $293.6M | $9.6B | ||
| Q2 25 | $172.4M | $9.5B | ||
| Q1 25 | $593.6M | $9.8B | ||
| Q4 24 | $825.5M | $10.3B | ||
| Q3 24 | $881.4M | $10.3B | ||
| Q2 24 | $763.6M | $9.8B | ||
| Q1 24 | $671.5M | $9.9B |
| Q4 25 | $2.0B | $19.6B | ||
| Q3 25 | $1.8B | $19.3B | ||
| Q2 25 | $1.6B | $18.3B | ||
| Q1 25 | $1.9B | $17.6B | ||
| Q4 24 | $2.1B | $18.2B | ||
| Q3 24 | $2.1B | $18.0B | ||
| Q2 24 | $1.9B | $17.7B | ||
| Q1 24 | $1.8B | $16.1B |
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $827.1M |
| Free Cash FlowOCF − Capex | $188.1M | — |
| FCF MarginFCF / Revenue | 26.6% | — |
| Capex IntensityCapex / Revenue | 0.6% | — |
| Cash ConversionOCF / Net Profit | 1.43× | 3.86× |
| TTM Free Cash FlowTrailing 4 quarters | $681.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $192.7M | $827.1M | ||
| Q3 25 | $246.2M | $702.6M | ||
| Q2 25 | $148.5M | $364.0M | ||
| Q1 25 | $125.8M | $596.1M | ||
| Q4 24 | $190.7M | $742.5M | ||
| Q3 24 | $149.1M | $703.6M | ||
| Q2 24 | $116.4M | $658.2M | ||
| Q1 24 | $152.7M | $664.6M |
| 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× | 3.86× | ||
| Q3 25 | 2.22× | 2.44× | ||
| Q2 25 | 1.65× | 12.06× | ||
| Q1 25 | 1.10× | 2.50× | ||
| Q4 24 | 1.63× | 3.57× | ||
| Q3 24 | 1.55× | 1.29× | ||
| Q2 24 | 1.32× | 6.45× | ||
| Q1 24 | 1.49× | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
