Bio-Rad Laboratories vs Medpace
Add, change or remove companies; up to four.
The short version
- Bio-Rad Laboratories is the larger business, with $2.6B of revenue in fiscal 2025 against $2.5B for Medpace.
- Medpace grew revenue faster (20.0%, against 0.7%).
- Medpace kept more of each dollar of sales as operating profit (21.1% operating margin, against 1.8%).
- Medpace turned more of its sales into free cash flow (27.0% FCF margin, against 14.5%).
- Investors pay more for each dollar of Bio-Rad Laboratories’s earnings: a P/E of 46.3x against 37.2x for Medpace.
| Latest fiscal year | BIO · FY25 | MEDP · FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.9B | $19.0B |
| Revenue | $2.6B | $2.5B |
| Free cash flow | $375M | $682M |
| Net income | $760M | $451M |
| Growth | ||
| Revenue growth | 0.7% | 20.0% |
| 5-year growth | 0.3% | 22.3% |
| Share count change | −3.3% | −7.8% |
| Profitability | ||
| Gross margin | 51.9% | — |
| Operating margin | 1.8% | 21.1% |
| Net margin | 29.4% | 17.8% |
| FCF margin | 14.5% | 27.0% |
| Return on capital | 0.5% | — |
| Return on equity | 10.8% | 70.2% |
| Balance sheet | ||
| Net debt | −$329M | −$497M |
| Net debt / EBITDA | −1.6x | −0.9x |
| Dividends and buybacks | $296M | $917M |
| Valuation & quality | ||
| P/E | 46.3x | 37.2x |
| Piotroski F-score | 5 | 4 |
Revenue
FY16
BIO $2.1B
MEDP $422M
FY17
BIO $2.2B
MEDP $436M
FY18
BIO $2.3B
MEDP $705M
FY19
BIO $2.3B
MEDP $861M
FY20
BIO $2.5B
MEDP $926M
FY21
BIO $2.9B
MEDP $1.1B
FY22
BIO $2.8B
MEDP $1.5B
FY23
BIO $2.7B
MEDP $1.9B
FY24
BIO $2.6B
MEDP $2.1B
FY25
BIO $2.6B
MEDP $2.5B
BIO
MEDP
Operating margin
FY16
BIO 2.7%
MEDP 12.5%
FY17
BIO 5.5%
MEDP 14.9%
FY18
BIO −4.5%
MEDP 14.3%
FY19
BIO 9.9%
MEDP 14.8%
FY20
BIO 16.6%
MEDP 18.0%
FY21
BIO 17.1%
MEDP 17.4%
FY22
BIO 17.2%
MEDP 19.1%
FY23
BIO 12.7%
MEDP 17.9%
FY24
BIO 10.5%
MEDP 21.2%
FY25
BIO 1.8%
MEDP 21.1%
BIO
MEDP
Free cash flow
FY16
BIO $74.6M
MEDP $78.2M
FY17
BIO −$7.2M
MEDP $85.7M
FY18
BIO $156M
MEDP $141M
FY19
BIO $359M
MEDP $184M
FY20
BIO $476M
MEDP $227M
FY21
BIO $536M
MEDP $235M
FY22
BIO $81.6M
MEDP $351M
FY23
BIO $218M
MEDP $397M
FY24
BIO $290M
MEDP $572M
FY25
BIO $375M
MEDP $682M
BIO
MEDP
Return on capital
FY16
BIO 1.6%
MEDP 4.2%
FY17
BIO 5.0%
MEDP 6.2%
FY18
BIO −2.4%
MEDP 11.6%
FY19
BIO 4.3%
MEDP 16.4%
FY20
BIO 4.8%
MEDP 25.7%
FY21
BIO 3.6%
MEDP 35.1%
FY22
BIO 3.5%
MEDP 53.7%
FY23
BIO 3.1%
MEDP 78.7%
FY24
BIO 2.9%
MEDP 161.7%
FY25
BIO 0.5%
MEDP —
BIO
MEDP
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.