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Medpace Holdings, Inc.（MEDP）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
Medpace Holdings, Inc.的季度营收约是世纪互联的2.0倍（$708.5M vs $362.7M），Medpace Holdings, Inc.净利率更高（19.1% vs -10.7%，领先29.7%），Medpace Holdings, Inc.自由现金流更多（$188.1M vs $-193.1M），过去两年Medpace Holdings, Inc.的营收复合增速更高（17.7% vs 17.4%）
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。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
MEDP vs VNET — 直观对比
营收规模更大
MEDP
是对方的2.0倍
$362.7M
净利率更高
MEDP
高出29.7%
-10.7%
自由现金流更多
MEDP
多$381.2M
$-193.1M
两年增速更快
MEDP
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $708.5M | $362.7M |
| 净利润 | $135.1M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 21.6% | 0.5% |
| 净利率 | 19.1% | -10.7% |
| 营收同比 | 32.0% | — |
| 净利润同比 | 15.5% | — |
| 每股收益（稀释后） | $4.65 | — |
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MEDPVNET
| Q4 25 | $708.5M | — | ||
| Q3 25 | $659.9M | $362.7M | ||
| Q2 25 | $603.3M | — | ||
| Q1 25 | $558.6M | $309.5M | ||
| Q4 24 | $536.6M | — | ||
| Q3 24 | $533.3M | $302.2M | ||
| Q2 24 | $528.1M | $274.4M | ||
| Q1 24 | $511.0M | $262.9M |
净利润MEDPVNET
| Q4 25 | $135.1M | — | ||
| Q3 25 | $111.1M | $-38.7M | ||
| Q2 25 | $90.3M | — | ||
| Q1 25 | $114.6M | $-2.4M | ||
| Q4 24 | $117.0M | — | ||
| Q3 24 | $96.4M | $-2.1M | ||
| Q2 24 | $88.4M | $-1.1M | ||
| Q1 24 | $102.6M | $-22.0M |
毛利率MEDPVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 21.6% |
营业利润率MEDPVNET
| Q4 25 | 21.6% | — | ||
| Q3 25 | 21.5% | 0.5% | ||
| Q2 25 | 20.9% | — | ||
| Q1 25 | 20.3% | 0.1% | ||
| Q4 24 | 23.4% | — | ||
| Q3 24 | 21.1% | 24.5% | ||
| Q2 24 | 19.9% | 0.2% | ||
| Q1 24 | 20.4% | 0.2% |
净利率MEDPVNET
| Q4 25 | 19.1% | — | ||
| Q3 25 | 16.8% | -10.7% | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | 20.5% | -0.8% | ||
| Q4 24 | 21.8% | — | ||
| Q3 24 | 18.1% | -0.7% | ||
| Q2 24 | 16.7% | -0.4% | ||
| Q1 24 | 20.1% | -8.4% |
每股收益（稀释后）MEDPVNET
| Q4 25 | $4.65 | — | ||
| Q3 25 | $3.86 | — | ||
| Q2 25 | $3.10 | — | ||
| Q1 25 | $3.67 | — | ||
| Q4 24 | $3.67 | — | ||
| Q3 24 | $3.01 | — | ||
| Q2 24 | $2.75 | — | ||
| Q1 24 | $3.20 | — |
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 | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $459.1M | $890.8M |
| 总资产 | $2.0B | $6.1B |
| 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MEDPVNET
| Q4 25 | $497.0M | — | ||
| Q3 25 | $285.4M | $492.1M | ||
| Q2 25 | $46.3M | — | ||
| Q1 25 | $441.4M | $544.3M | ||
| Q4 24 | $669.4M | — | ||
| Q3 24 | $656.9M | $219.5M | ||
| Q2 24 | $510.9M | $247.2M | ||
| Q1 24 | $407.0M | $246.9M |
总债务MEDPVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益MEDPVNET
| Q4 25 | $459.1M | — | ||
| Q3 25 | $293.6M | $890.8M | ||
| Q2 25 | $172.4M | — | ||
| Q1 25 | $593.6M | $927.8M | ||
| Q4 24 | $825.5M | — | ||
| Q3 24 | $881.4M | $902.9M | ||
| Q2 24 | $763.6M | $900.6M | ||
| Q1 24 | $671.5M | $895.1M |
总资产MEDPVNET
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.8B | $6.1B | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.9B | $5.4B | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.1B | $4.3B | ||
| Q2 24 | $1.9B | $4.0B | ||
| Q1 24 | $1.8B | $3.9B |
负债/权益比MEDPVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $188.1M | $-193.1M |
| 自由现金流率自由现金流/营收 | 26.6% | -53.2% |
| 资本支出强度资本支出/营收 | 0.6% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.43× | — |
| 过去12个月自由现金流最近4个季度 | $681.9M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流MEDPVNET
| Q4 25 | $192.7M | — | ||
| Q3 25 | $246.2M | $113.8M | ||
| Q2 25 | $148.5M | — | ||
| Q1 25 | $125.8M | $27.0M | ||
| Q4 24 | $190.7M | — | ||
| Q3 24 | $149.1M | $108.3M | ||
| Q2 24 | $116.4M | $55.8M | ||
| Q1 24 | $152.7M | $37.1M |
自由现金流MEDPVNET
| Q4 25 | $188.1M | — | ||
| Q3 25 | $235.5M | $-193.1M | ||
| Q2 25 | $142.4M | — | ||
| Q1 25 | $115.8M | $-220.0M | ||
| Q4 24 | $183.0M | — | ||
| Q3 24 | $138.5M | $-95.0M | ||
| Q2 24 | $103.5M | $-81.6M | ||
| Q1 24 | $147.2M | $-102.2M |
自由现金流率MEDPVNET
| Q4 25 | 26.6% | — | ||
| Q3 25 | 35.7% | -53.2% | ||
| Q2 25 | 23.6% | — | ||
| Q1 25 | 20.7% | -71.1% | ||
| Q4 24 | 34.1% | — | ||
| Q3 24 | 26.0% | -31.4% | ||
| Q2 24 | 19.6% | -29.8% | ||
| Q1 24 | 28.8% | -38.9% |
资本支出强度MEDPVNET
| Q4 25 | 0.6% | — | ||
| Q3 25 | 1.6% | 84.6% | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 1.8% | 79.8% | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 2.0% | 67.3% | ||
| Q2 24 | 2.4% | 50.1% | ||
| Q1 24 | 1.1% | 53.0% |
现金转化率MEDPVNET
| Q4 25 | 1.43× | — | ||
| Q3 25 | 2.22× | — | ||
| Q2 25 | 1.65× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.63× | — | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 1.32× | — | ||
| Q1 24 | 1.49× | — |
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% |
VNET
暂无分部数据
