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Medpace Holdings, Inc.（MEDP）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的1.1倍（$708.5M vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 19.1%，领先15.4%），Medpace Holdings, Inc.同比增速更快（32.0% vs 4.8%），过去两年Medpace Holdings, Inc.的营收复合增速更高（17.7% vs 4.6%）
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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
MEDP vs RPRX — 直观对比
营收规模更大
MEDP
是对方的1.1倍
$622.0M
营收增速更快
MEDP
高出27.3%
4.8%
净利率更高
RPRX
高出15.4%
19.1%
两年增速更快
MEDP
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $708.5M | $622.0M |
| 净利润 | $135.1M | $214.2M |
| 毛利率 | — | — |
| 营业利润率 | 21.6% | 62.4% |
| 净利率 | 19.1% | 34.4% |
| 营收同比 | 32.0% | 4.8% |
| 净利润同比 | 15.5% | 2.9% |
| 每股收益（稀释后） | $4.65 | $0.49 |
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MEDPRPRX
| 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 |
净利润MEDPRPRX
| 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 |
营业利润率MEDPRPRX
| 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% |
净利率MEDPRPRX
| 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% |
每股收益（稀释后）MEDPRPRX
| 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 |
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 | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $459.1M | $9.7B |
| 总资产 | $2.0B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资MEDPRPRX
| 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 |
总债务MEDPRPRX
| 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 |
股东权益MEDPRPRX
| 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 |
总资产MEDPRPRX
| 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 |
负债/权益比MEDPRPRX
| 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× |
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 | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $188.1M | — |
| 自由现金流率自由现金流/营收 | 26.6% | — |
| 资本支出强度资本支出/营收 | 0.6% | — |
| 现金转化率经营现金流/净利润 | 1.43× | 3.86× |
| 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MEDPRPRX
| 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 |
自由现金流MEDPRPRX
| 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 | — |
自由现金流率MEDPRPRX
| 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% | — |
资本支出强度MEDPRPRX
| 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% | — |
现金转化率MEDPRPRX
| 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× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
