vs
Medpace Holdings, Inc.（MEDP）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
思佳讯的季度营收约是Medpace Holdings, Inc.的1.5倍（$1.0B vs $708.5M），Medpace Holdings, Inc.净利率更高（19.1% vs 7.6%，领先11.4%），Medpace Holdings, Inc.同比增速更快（32.0% vs 8.6%），思佳讯自由现金流更多（$339.0M vs $188.1M），过去两年Medpace Holdings, Inc.的营收复合增速更高（17.7% vs -0.5%）
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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
MEDP vs SWKS — 直观对比
营收规模更大
SWKS
是对方的1.5倍
$708.5M
营收增速更快
MEDP
高出23.4%
8.6%
净利率更高
MEDP
高出11.4%
7.6%
自由现金流更多
SWKS
多$150.9M
$188.1M
两年增速更快
MEDP
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $708.5M | $1.0B |
| 净利润 | $135.1M | $79.2M |
| 毛利率 | — | 41.3% |
| 营业利润率 | 21.6% | 10.0% |
| 净利率 | 19.1% | 7.6% |
| 营收同比 | 32.0% | 8.6% |
| 净利润同比 | 15.5% | 15.3% |
| 每股收益（稀释后） | $4.65 | $0.53 |
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MEDPSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $708.5M | $1.1B | ||
| Q3 25 | $659.9M | — | ||
| Q2 25 | $603.3M | $965.0M | ||
| Q1 25 | $558.6M | $953.2M | ||
| Q4 24 | $536.6M | $1.1B | ||
| Q3 24 | $533.3M | $1.0B | ||
| Q2 24 | $528.1M | $905.5M |
净利润MEDPSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $135.1M | $141.4M | ||
| Q3 25 | $111.1M | — | ||
| Q2 25 | $90.3M | $105.0M | ||
| Q1 25 | $114.6M | $68.7M | ||
| Q4 24 | $117.0M | $162.0M | ||
| Q3 24 | $96.4M | $60.5M | ||
| Q2 24 | $88.4M | $120.9M |
毛利率MEDPSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | — | 40.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 41.6% | ||
| Q1 25 | — | 41.1% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 41.9% | ||
| Q2 24 | — | 40.2% |
营业利润率MEDPSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 21.6% | 10.1% | ||
| Q3 25 | 21.5% | — | ||
| Q2 25 | 20.9% | 11.5% | ||
| Q1 25 | 20.3% | 10.2% | ||
| Q4 24 | 23.4% | 16.9% | ||
| Q3 24 | 21.1% | 5.8% | ||
| Q2 24 | 19.9% | 14.4% |
净利率MEDPSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | 19.1% | 12.9% | ||
| Q3 25 | 16.8% | — | ||
| Q2 25 | 15.0% | 10.9% | ||
| Q1 25 | 20.5% | 7.2% | ||
| Q4 24 | 21.8% | 15.2% | ||
| Q3 24 | 18.1% | 5.9% | ||
| Q2 24 | 16.7% | 13.4% |
每股收益（稀释后）MEDPSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $4.65 | $0.95 | ||
| Q3 25 | $3.86 | — | ||
| Q2 25 | $3.10 | $0.70 | ||
| Q1 25 | $3.67 | $0.43 | ||
| Q4 24 | $3.67 | $1.00 | ||
| Q3 24 | $3.01 | $0.36 | ||
| Q2 24 | $2.75 | $0.75 |
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 | $1.6B |
| 总债务越低越好 | — | $496.6M |
| 股东权益账面价值 | $459.1M | $5.8B |
| 总资产 | $2.0B | $7.9B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资MEDPSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $497.0M | $1.4B | ||
| Q3 25 | $285.4M | — | ||
| Q2 25 | $46.3M | $1.3B | ||
| Q1 25 | $441.4M | $1.5B | ||
| Q4 24 | $669.4M | $1.7B | ||
| Q3 24 | $656.9M | $1.6B | ||
| Q2 24 | $510.9M | $1.3B |
总债务MEDPSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | — | $496.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $496.2M | ||
| Q1 25 | — | $995.1M | ||
| Q4 24 | — | $994.7M | ||
| Q3 24 | — | $994.3M | ||
| Q2 24 | — | $994.0M |
股东权益MEDPSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $459.1M | $5.8B | ||
| Q3 25 | $293.6M | — | ||
| Q2 25 | $172.4M | $5.7B | ||
| Q1 25 | $593.6M | $5.9B | ||
| Q4 24 | $825.5M | $6.4B | ||
| Q3 24 | $881.4M | $6.3B | ||
| Q2 24 | $763.6M | $6.3B |
总资产MEDPSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $2.0B | $7.9B | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.6B | $7.7B | ||
| Q1 25 | $1.9B | $7.9B | ||
| Q4 24 | $2.1B | $8.3B | ||
| Q3 24 | $2.1B | $8.3B | ||
| Q2 24 | $1.9B | $8.2B |
负债/权益比MEDPSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $188.1M | $339.0M |
| 自由现金流率自由现金流/营收 | 26.6% | 32.7% |
| 资本支出强度资本支出/营收 | 0.6% | 5.5% |
| 现金转化率经营现金流/净利润 | 1.43× | 4.99× |
| 过去12个月自由现金流最近4个季度 | $681.9M | $1.1B |
8季度趋势，按日历期对齐
经营现金流MEDPSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $192.7M | $200.0M | ||
| Q3 25 | $246.2M | — | ||
| Q2 25 | $148.5M | $314.2M | ||
| Q1 25 | $125.8M | $409.4M | ||
| Q4 24 | $190.7M | $377.2M | ||
| Q3 24 | $149.1M | $476.1M | ||
| Q2 24 | $116.4M | $273.4M |
自由现金流MEDPSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $188.1M | $144.0M | ||
| Q3 25 | $235.5M | — | ||
| Q2 25 | $142.4M | $252.7M | ||
| Q1 25 | $115.8M | $370.9M | ||
| Q4 24 | $183.0M | $338.2M | ||
| Q3 24 | $138.5M | $393.3M | ||
| Q2 24 | $103.5M | $249.0M |
自由现金流率MEDPSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 26.6% | 13.1% | ||
| Q3 25 | 35.7% | — | ||
| Q2 25 | 23.6% | 26.2% | ||
| Q1 25 | 20.7% | 38.9% | ||
| Q4 24 | 34.1% | 31.7% | ||
| Q3 24 | 26.0% | 38.4% | ||
| Q2 24 | 19.6% | 27.5% |
资本支出强度MEDPSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 0.6% | 5.1% | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.0% | 6.4% | ||
| Q1 25 | 1.8% | 4.0% | ||
| Q4 24 | 1.4% | 3.6% | ||
| Q3 24 | 2.0% | 8.1% | ||
| Q2 24 | 2.4% | 2.7% |
现金转化率MEDPSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | 1.43× | 1.41× | ||
| Q3 25 | 2.22× | — | ||
| Q2 25 | 1.65× | 2.99× | ||
| Q1 25 | 1.10× | 5.96× | ||
| Q4 24 | 1.63× | 2.33× | ||
| Q3 24 | 1.55× | 7.87× | ||
| Q2 24 | 1.32× | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
