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Medpace Holdings, Inc.（MEDP）与UiPath, Inc.（PATH）财务数据对比。点击上方公司名可切换其他公司
Medpace Holdings, Inc.的季度营收约是UiPath, Inc.的1.7倍（$708.5M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs 19.1%，领先29.3%），Medpace Holdings, Inc.同比增速更快（32.0% vs 15.9%），Medpace Holdings, Inc.自由现金流更多（$188.1M vs $25.1M），过去两年Medpace Holdings, Inc.的营收复合增速更高（17.7% vs 0.7%）
Medpace Holdings, Inc.是总部位于美国俄亥俄州辛辛那提的全球性临床研究机构（CRO），现有员工约6000人。公司采用全服务运营模式，可提供全球中心实验室、影像核心实验室、生物分析实验室服务，且在总部临床研究园区内设有I期临床试验单元。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
MEDP vs PATH — 直观对比
营收规模更大
MEDP
是对方的1.7倍
$411.1M
营收增速更快
MEDP
高出16.1%
15.9%
净利率更高
PATH
高出29.3%
19.1%
自由现金流更多
MEDP
多$163.0M
$25.1M
两年增速更快
MEDP
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $708.5M | $411.1M |
| 净利润 | $135.1M | $198.8M |
| 毛利率 | — | 83.3% |
| 营业利润率 | 21.6% | 3.2% |
| 净利率 | 19.1% | 48.4% |
| 营收同比 | 32.0% | 15.9% |
| 净利润同比 | 15.5% | 1966.2% |
| 每股收益（稀释后） | $4.65 | $0.37 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MEDPPATH
| Q4 25 | $708.5M | $411.1M | ||
| Q3 25 | $659.9M | $361.7M | ||
| Q2 25 | $603.3M | $356.6M | ||
| Q1 25 | $558.6M | $423.6M | ||
| Q4 24 | $536.6M | $354.7M | ||
| Q3 24 | $533.3M | $316.3M | ||
| Q2 24 | $528.1M | $335.1M | ||
| Q1 24 | $511.0M | $405.3M |
净利润MEDPPATH
| Q4 25 | $135.1M | $198.8M | ||
| Q3 25 | $111.1M | $1.6M | ||
| Q2 25 | $90.3M | $-22.6M | ||
| Q1 25 | $114.6M | $51.8M | ||
| Q4 24 | $117.0M | $-10.7M | ||
| Q3 24 | $96.4M | $-86.1M | ||
| Q2 24 | $88.4M | $-28.7M | ||
| Q1 24 | $102.6M | $33.9M |
毛利率MEDPPATH
| Q4 25 | — | 83.3% | ||
| Q3 25 | — | 82.2% | ||
| Q2 25 | — | 82.1% | ||
| Q1 25 | — | 84.8% | ||
| Q4 24 | — | 82.0% | ||
| Q3 24 | — | 80.0% | ||
| Q2 24 | — | 83.5% | ||
| Q1 24 | — | 86.8% |
营业利润率MEDPPATH
| Q4 25 | 21.6% | 3.2% | ||
| Q3 25 | 21.5% | -5.6% | ||
| Q2 25 | 20.9% | -4.6% | ||
| Q1 25 | 20.3% | 7.9% | ||
| Q4 24 | 23.4% | -12.2% | ||
| Q3 24 | 21.1% | -32.7% | ||
| Q2 24 | 19.9% | -14.8% | ||
| Q1 24 | 20.4% | 3.7% |
净利率MEDPPATH
| Q4 25 | 19.1% | 48.4% | ||
| Q3 25 | 16.8% | 0.4% | ||
| Q2 25 | 15.0% | -6.3% | ||
| Q1 25 | 20.5% | 12.2% | ||
| Q4 24 | 21.8% | -3.0% | ||
| Q3 24 | 18.1% | -27.2% | ||
| Q2 24 | 16.7% | -8.6% | ||
| Q1 24 | 20.1% | 8.4% |
每股收益（稀释后）MEDPPATH
| Q4 25 | $4.65 | $0.37 | ||
| Q3 25 | $3.86 | $0.00 | ||
| Q2 25 | $3.10 | $-0.04 | ||
| Q1 25 | $3.67 | $0.09 | ||
| Q4 24 | $3.67 | $-0.02 | ||
| Q3 24 | $3.01 | $-0.15 | ||
| Q2 24 | $2.75 | $-0.05 | ||
| Q1 24 | $3.20 | $0.07 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $497.0M | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $459.1M | $1.9B |
| 总资产 | $2.0B | $2.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MEDPPATH
| Q4 25 | $497.0M | $1.4B | ||
| Q3 25 | $285.4M | $1.4B | ||
| Q2 25 | $46.3M | $1.6B | ||
| Q1 25 | $441.4M | $1.6B | ||
| Q4 24 | $669.4M | $1.6B | ||
| Q3 24 | $656.9M | $1.7B | ||
| Q2 24 | $510.9M | $1.9B | ||
| Q1 24 | $407.0M | $1.9B |
股东权益MEDPPATH
| Q4 25 | $459.1M | $1.9B | ||
| Q3 25 | $293.6M | $1.7B | ||
| Q2 25 | $172.4M | $1.7B | ||
| Q1 25 | $593.6M | $1.8B | ||
| Q4 24 | $825.5M | $1.7B | ||
| Q3 24 | $881.4M | $1.8B | ||
| Q2 24 | $763.6M | $2.0B | ||
| Q1 24 | $671.5M | $2.0B |
总资产MEDPPATH
| Q4 25 | $2.0B | $2.9B | ||
| Q3 25 | $1.8B | $2.6B | ||
| Q2 25 | $1.6B | $2.6B | ||
| Q1 25 | $1.9B | $2.9B | ||
| Q4 24 | $2.1B | $2.7B | ||
| Q3 24 | $2.1B | $2.7B | ||
| Q2 24 | $1.9B | $2.8B | ||
| Q1 24 | $1.8B | $3.0B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $192.7M | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $188.1M | $25.1M |
| 自由现金流率自由现金流/营收 | 26.6% | 6.1% |
| 资本支出强度资本支出/营收 | 0.6% | 0.8% |
| 现金转化率经营现金流/净利润 | 1.43× | 0.14× |
| 过去12个月自由现金流最近4个季度 | $681.9M | — |
8季度趋势，按日历期对齐
经营现金流MEDPPATH
| Q4 25 | $192.7M | $28.3M | ||
| Q3 25 | $246.2M | $41.6M | ||
| Q2 25 | $148.5M | $119.0M | ||
| Q1 25 | $125.8M | $146.1M | ||
| Q4 24 | $190.7M | $28.1M | ||
| Q3 24 | $149.1M | $46.4M | ||
| Q2 24 | $116.4M | $100.0M | ||
| Q1 24 | $152.7M | $145.6M |
自由现金流MEDPPATH
| Q4 25 | $188.1M | $25.1M | ||
| Q3 25 | $235.5M | — | ||
| Q2 25 | $142.4M | $106.2M | ||
| Q1 25 | $115.8M | $138.7M | ||
| Q4 24 | $183.0M | $23.2M | ||
| Q3 24 | $138.5M | $45.0M | ||
| Q2 24 | $103.5M | $98.8M | ||
| Q1 24 | $147.2M | $141.8M |
自由现金流率MEDPPATH
| Q4 25 | 26.6% | 6.1% | ||
| Q3 25 | 35.7% | — | ||
| Q2 25 | 23.6% | 29.8% | ||
| Q1 25 | 20.7% | 32.7% | ||
| Q4 24 | 34.1% | 6.5% | ||
| Q3 24 | 26.0% | 14.2% | ||
| Q2 24 | 19.6% | 29.5% | ||
| Q1 24 | 28.8% | 35.0% |
资本支出强度MEDPPATH
| Q4 25 | 0.6% | 0.8% | ||
| Q3 25 | 1.6% | 0.0% | ||
| Q2 25 | 1.0% | 3.6% | ||
| Q1 25 | 1.8% | 1.7% | ||
| Q4 24 | 1.4% | 1.4% | ||
| Q3 24 | 2.0% | 0.4% | ||
| Q2 24 | 2.4% | 0.4% | ||
| Q1 24 | 1.1% | 0.9% |
现金转化率MEDPPATH
| Q4 25 | 1.43× | 0.14× | ||
| Q3 25 | 2.22× | 26.25× | ||
| Q2 25 | 1.65× | — | ||
| Q1 25 | 1.10× | 2.82× | ||
| Q4 24 | 1.63× | — | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 1.32× | — | ||
| Q1 24 | 1.49× | 4.29× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
