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Side-by-side financial comparison of Medpace Holdings, Inc. (MEDP) and Skyward Specialty Insurance Group, Inc. (SKWD). Click either name above to swap in a different company.
Medpace Holdings, Inc. is the larger business by last-quarter revenue ($708.5M vs $475.9M, roughly 1.5× Skyward Specialty Insurance Group, Inc.). Medpace Holdings, Inc. runs the higher net margin — 19.1% vs 10.5%, a 8.6% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (44.8% vs 32.0%). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (30.4% CAGR vs 17.7%).
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.
Skyward Specialty Insurance Group, Inc. is a specialty property and casualty insurance provider offering tailored coverage solutions including commercial auto, general liability, professional indemnity, and specialty property policies. It primarily serves small-to-medium enterprises and niche industry segments across the United States, focusing on underwriting complex, hard-to-place risks for underserved client groups.
MEDP vs SKWD — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $708.5M | $475.9M |
| Net Profit | $135.1M | $49.7M |
| Gross Margin | — | — |
| Operating Margin | 21.6% | 14.9% |
| Net Margin | 19.1% | 10.5% |
| Revenue YoY | 32.0% | 44.8% |
| Net Profit YoY | 15.5% | — |
| EPS (diluted) | $4.65 | $1.09 |
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.
| Q1 26 | — | $475.9M | ||
| Q4 25 | $708.5M | $385.6M | ||
| Q3 25 | $659.9M | $382.5M | ||
| Q2 25 | $603.3M | $319.9M | ||
| Q1 25 | $558.6M | $328.5M | ||
| Q4 24 | $536.6M | $304.4M | ||
| Q3 24 | $533.3M | $300.9M | ||
| Q2 24 | $528.1M | $279.9M |
| Q1 26 | — | $49.7M | ||
| Q4 25 | $135.1M | $43.2M | ||
| Q3 25 | $111.1M | $45.9M | ||
| Q2 25 | $90.3M | $38.8M | ||
| Q1 25 | $114.6M | $42.1M | ||
| Q4 24 | $117.0M | $14.4M | ||
| Q3 24 | $96.4M | $36.7M | ||
| Q2 24 | $88.4M | $31.0M |
| Q1 26 | — | 14.9% | ||
| Q4 25 | 21.6% | 14.2% | ||
| Q3 25 | 21.5% | 15.8% | ||
| Q2 25 | 20.9% | 15.6% | ||
| Q1 25 | 20.3% | 15.7% | ||
| Q4 24 | 23.4% | 6.1% | ||
| Q3 24 | 21.1% | 15.6% | ||
| Q2 24 | 19.9% | 14.4% |
| Q1 26 | — | 10.5% | ||
| Q4 25 | 19.1% | 11.2% | ||
| Q3 25 | 16.8% | 12.0% | ||
| Q2 25 | 15.0% | 12.1% | ||
| Q1 25 | 20.5% | 12.8% | ||
| Q4 24 | 21.8% | 4.7% | ||
| Q3 24 | 18.1% | 12.2% | ||
| Q2 24 | 16.7% | 11.1% |
| Q1 26 | — | $1.09 | ||
| Q4 25 | $4.65 | $1.03 | ||
| Q3 25 | $3.86 | $1.10 | ||
| Q2 25 | $3.10 | $0.93 | ||
| Q1 25 | $3.67 | $1.01 | ||
| Q4 24 | $3.67 | $0.33 | ||
| Q3 24 | $3.01 | $0.89 | ||
| Q2 24 | $2.75 | $0.75 |
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 | $4.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $459.1M | $1.2B |
| Total Assets | $2.0B | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $4.1M | ||
| Q4 25 | $497.0M | $168.5M | ||
| Q3 25 | $285.4M | $160.1M | ||
| Q2 25 | $46.3M | $136.6M | ||
| Q1 25 | $441.4M | $112.9M | ||
| Q4 24 | $669.4M | $121.6M | ||
| Q3 24 | $656.9M | $105.6M | ||
| Q2 24 | $510.9M | $73.0M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $459.1M | $1.0B | ||
| Q3 25 | $293.6M | $961.4M | ||
| Q2 25 | $172.4M | $899.9M | ||
| Q1 25 | $593.6M | $850.7M | ||
| Q4 24 | $825.5M | $794.0M | ||
| Q3 24 | $881.4M | $797.5M | ||
| Q2 24 | $763.6M | $723.6M |
| Q1 26 | — | $6.5B | ||
| Q4 25 | $2.0B | $4.8B | ||
| Q3 25 | $1.8B | $4.6B | ||
| Q2 25 | $1.6B | $4.3B | ||
| Q1 25 | $1.9B | $4.0B | ||
| Q4 24 | $2.1B | $3.7B | ||
| Q3 24 | $2.1B | $3.6B | ||
| Q2 24 | $1.9B | $3.4B |
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 | — |
| Free Cash FlowOCF − Capex | $188.1M | — |
| FCF MarginFCF / Revenue | 26.6% | — |
| Capex IntensityCapex / Revenue | 0.6% | — |
| Cash ConversionOCF / Net Profit | 1.43× | — |
| TTM Free Cash FlowTrailing 4 quarters | $681.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $192.7M | $408.1M | ||
| Q3 25 | $246.2M | $171.4M | ||
| Q2 25 | $148.5M | $88.2M | ||
| Q1 25 | $125.8M | $96.8M | ||
| Q4 24 | $190.7M | $305.1M | ||
| Q3 24 | $149.1M | $168.0M | ||
| Q2 24 | $116.4M | $21.0M |
| Q1 26 | — | — | ||
| Q4 25 | $188.1M | $402.6M | ||
| Q3 25 | $235.5M | $168.9M | ||
| Q2 25 | $142.4M | $87.1M | ||
| Q1 25 | $115.8M | $96.6M | ||
| Q4 24 | $183.0M | $300.9M | ||
| Q3 24 | $138.5M | $167.6M | ||
| Q2 24 | $103.5M | $18.4M |
| Q1 26 | — | — | ||
| Q4 25 | 26.6% | 104.4% | ||
| Q3 25 | 35.7% | 44.2% | ||
| Q2 25 | 23.6% | 27.2% | ||
| Q1 25 | 20.7% | 29.4% | ||
| Q4 24 | 34.1% | 98.8% | ||
| Q3 24 | 26.0% | 55.7% | ||
| Q2 24 | 19.6% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 1.4% | ||
| Q3 25 | 1.6% | 0.6% | ||
| Q2 25 | 1.0% | 0.3% | ||
| Q1 25 | 1.8% | 0.1% | ||
| Q4 24 | 1.4% | 1.4% | ||
| Q3 24 | 2.0% | 0.1% | ||
| Q2 24 | 2.4% | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.43× | 9.44× | ||
| Q3 25 | 2.22× | 3.73× | ||
| Q2 25 | 1.65× | 2.27× | ||
| Q1 25 | 1.10× | 2.30× | ||
| Q4 24 | 1.63× | 21.18× | ||
| Q3 24 | 1.55× | 4.58× | ||
| Q2 24 | 1.32× | 0.68× |
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% |
SKWD
Segment breakdown not available.
