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Side-by-side financial comparison of Medpace Holdings, Inc. (MEDP) and Trade Desk (The) (TTD). Click either name above to swap in a different company.
Trade Desk (The) is the larger business by last-quarter revenue ($846.8M vs $708.5M, roughly 1.2× Medpace Holdings, Inc.). Trade Desk (The) runs the higher net margin — 22.1% vs 19.1%, a 3.0% gap on every dollar of revenue. On growth, Medpace Holdings, Inc. posted the faster year-over-year revenue change (32.0% vs 14.3%). Trade Desk (The) produced more free cash flow last quarter ($285.3M vs $188.1M). Over the past eight quarters, Trade Desk (The)'s revenue compounded faster (31.3% 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.
The Trade Desk, Inc. is an American multinational technology company that specializes in real-time programmatic marketing automation technologies, products, and services, designed to personalize digital content delivery to users.
MEDP vs TTD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $708.5M | $846.8M |
| Net Profit | $135.1M | $186.9M |
| Gross Margin | — | 80.7% |
| Operating Margin | 21.6% | 30.3% |
| Net Margin | 19.1% | 22.1% |
| Revenue YoY | 32.0% | 14.3% |
| Net Profit YoY | 15.5% | 2.6% |
| EPS (diluted) | $4.65 | $0.39 |
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 | $846.8M | ||
| Q3 25 | $659.9M | $739.4M | ||
| Q2 25 | $603.3M | $694.0M | ||
| Q1 25 | $558.6M | $616.0M | ||
| Q4 24 | $536.6M | $741.0M | ||
| Q3 24 | $533.3M | $628.0M | ||
| Q2 24 | $528.1M | $584.5M | ||
| Q1 24 | $511.0M | $491.3M |
| Q4 25 | $135.1M | $186.9M | ||
| Q3 25 | $111.1M | $115.5M | ||
| Q2 25 | $90.3M | $90.1M | ||
| Q1 25 | $114.6M | $50.7M | ||
| Q4 24 | $117.0M | $182.2M | ||
| Q3 24 | $96.4M | $94.2M | ||
| Q2 24 | $88.4M | $85.0M | ||
| Q1 24 | $102.6M | $31.7M |
| Q4 25 | — | 80.7% | ||
| Q3 25 | — | 78.1% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | — | 76.8% | ||
| Q4 24 | — | 81.7% | ||
| Q3 24 | — | 80.5% | ||
| Q2 24 | — | 81.1% | ||
| Q1 24 | — | 78.9% |
| Q4 25 | 21.6% | 30.3% | ||
| Q3 25 | 21.5% | 21.8% | ||
| Q2 25 | 20.9% | 16.8% | ||
| Q1 25 | 20.3% | 8.8% | ||
| Q4 24 | 23.4% | 26.4% | ||
| Q3 24 | 21.1% | 17.3% | ||
| Q2 24 | 19.9% | 16.2% | ||
| Q1 24 | 20.4% | 5.8% |
| Q4 25 | 19.1% | 22.1% | ||
| Q3 25 | 16.8% | 15.6% | ||
| Q2 25 | 15.0% | 13.0% | ||
| Q1 25 | 20.5% | 8.2% | ||
| Q4 24 | 21.8% | 24.6% | ||
| Q3 24 | 18.1% | 15.0% | ||
| Q2 24 | 16.7% | 14.5% | ||
| Q1 24 | 20.1% | 6.4% |
| Q4 25 | $4.65 | $0.39 | ||
| Q3 25 | $3.86 | $0.23 | ||
| Q2 25 | $3.10 | $0.18 | ||
| Q1 25 | $3.67 | $0.10 | ||
| Q4 24 | $3.67 | $0.36 | ||
| Q3 24 | $3.01 | $0.19 | ||
| Q2 24 | $2.75 | $0.17 | ||
| Q1 24 | $3.20 | $0.06 |
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 | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $459.1M | $2.5B |
| Total Assets | $2.0B | $6.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $497.0M | $1.3B | ||
| Q3 25 | $285.4M | $1.4B | ||
| Q2 25 | $46.3M | $1.7B | ||
| Q1 25 | $441.4M | $1.7B | ||
| Q4 24 | $669.4M | $1.9B | ||
| Q3 24 | $656.9M | $1.7B | ||
| Q2 24 | $510.9M | $1.5B | ||
| Q1 24 | $407.0M | $1.4B |
| Q4 25 | $459.1M | $2.5B | ||
| Q3 25 | $293.6M | $2.6B | ||
| Q2 25 | $172.4M | $2.7B | ||
| Q1 25 | $593.6M | $2.7B | ||
| Q4 24 | $825.5M | $2.9B | ||
| Q3 24 | $881.4M | $2.6B | ||
| Q2 24 | $763.6M | $2.4B | ||
| Q1 24 | $671.5M | $2.2B |
| Q4 25 | $2.0B | $6.2B | ||
| Q3 25 | $1.8B | $5.9B | ||
| Q2 25 | $1.6B | $6.0B | ||
| Q1 25 | $1.9B | $5.7B | ||
| Q4 24 | $2.1B | $6.1B | ||
| Q3 24 | $2.1B | $5.5B | ||
| Q2 24 | $1.9B | $5.2B | ||
| Q1 24 | $1.8B | $4.7B |
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 | $311.6M |
| Free Cash FlowOCF − Capex | $188.1M | $285.3M |
| FCF MarginFCF / Revenue | 26.6% | 33.7% |
| Capex IntensityCapex / Revenue | 0.6% | 3.1% |
| Cash ConversionOCF / Net Profit | 1.43× | 1.67× |
| TTM Free Cash FlowTrailing 4 quarters | $681.9M | $795.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $192.7M | $311.6M | ||
| Q3 25 | $246.2M | $224.7M | ||
| Q2 25 | $148.5M | $165.0M | ||
| Q1 25 | $125.8M | $291.4M | ||
| Q4 24 | $190.7M | $199.4M | ||
| Q3 24 | $149.1M | $273.3M | ||
| Q2 24 | $116.4M | $81.3M | ||
| Q1 24 | $152.7M | $185.5M |
| Q4 25 | $188.1M | $285.3M | ||
| Q3 25 | $235.5M | $158.3M | ||
| Q2 25 | $142.4M | $119.8M | ||
| Q1 25 | $115.8M | $232.3M | ||
| Q4 24 | $183.0M | $179.2M | ||
| Q3 24 | $138.5M | $224.6M | ||
| Q2 24 | $103.5M | $59.1M | ||
| Q1 24 | $147.2M | $178.2M |
| Q4 25 | 26.6% | 33.7% | ||
| Q3 25 | 35.7% | 21.4% | ||
| Q2 25 | 23.6% | 17.3% | ||
| Q1 25 | 20.7% | 37.7% | ||
| Q4 24 | 34.1% | 24.2% | ||
| Q3 24 | 26.0% | 35.8% | ||
| Q2 24 | 19.6% | 10.1% | ||
| Q1 24 | 28.8% | 36.3% |
| Q4 25 | 0.6% | 3.1% | ||
| Q3 25 | 1.6% | 9.0% | ||
| Q2 25 | 1.0% | 6.5% | ||
| Q1 25 | 1.8% | 9.6% | ||
| Q4 24 | 1.4% | 2.7% | ||
| Q3 24 | 2.0% | 7.8% | ||
| Q2 24 | 2.4% | 3.8% | ||
| Q1 24 | 1.1% | 1.5% |
| Q4 25 | 1.43× | 1.67× | ||
| Q3 25 | 2.22× | 1.94× | ||
| Q2 25 | 1.65× | 1.83× | ||
| Q1 25 | 1.10× | 5.75× | ||
| Q4 24 | 1.63× | 1.09× | ||
| Q3 24 | 1.55× | 2.90× | ||
| Q2 24 | 1.32× | 0.96× | ||
| Q1 24 | 1.49× | 5.86× |
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% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
