Medpace Holdings Inc (MEDP)vsWaters Corporation (WAT)
MEDP
Medpace Holdings Inc
$454.25
-0.97%
HEALTHCARE · Cap: $13.35B
WAT
Waters Corporation
$365.36
-2.95%
HEALTHCARE · Cap: $34.91B
Smart Verdict
WallStSmart Research — data-driven comparison
Waters Corporation generates 41% more annual revenue ($3.77B vs $2.68B). MEDP leads profitability with a 17.2% profit margin vs 11.9%. WAT appears more attractively valued with a PEG of 1.60. MEDP earns a higher WallStSmart Score of 66/100 (B-).
MEDP
Strong Buy66
out of 100
Grade: B-
WAT
Buy50
out of 100
Grade: C-
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
-50.2%
Fair Value
$282.31
Current Price
$454.25
$171.94 premium
Margin of Safety
-84.6%
Fair Value
$178.29
Current Price
$365.36
$187.07 premium
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Every $100 of equity generates 77 in profit
Conservative balance sheet, low leverage
Strong operational efficiency at 20.0%
Revenue surging 26.5% year-over-year
Revenue surging 91.4% year-over-year
Safe zone — low bankruptcy risk
Areas to Watch
Moderate valuation
Grey zone — moderate risk
Expensive relative to growth rate
Trading at 21.7x book value
Expensive relative to growth rate
Trading at 8.5x book value
ROE of 2.9% — below average capital efficiency
Operating margin of 2.8%
Comparative Analysis Report
WallStSmart ResearchBull Case : MEDP
The strongest argument for MEDP centers on Return on Equity, Debt/Equity, Operating Margin. Profitability is solid with margins at 17.2% and operating margin at 20.0%. Revenue growth of 26.5% demonstrates continued momentum.
Bull Case : WAT
The strongest argument for WAT centers on Revenue Growth, Altman Z-Score. Revenue growth of 91.4% demonstrates continued momentum.
Bear Case : MEDP
The primary concerns for MEDP are P/E Ratio, Altman Z-Score, PEG Ratio.
Bear Case : WAT
The primary concerns for WAT are PEG Ratio, Price/Book, Return on Equity. A P/E of 45.2x leaves little room for execution misses.
Key Dynamics to Monitor
WAT carries more volatility with a beta of 1.20 — expect wider price swings.
WAT is growing revenue faster at 91.4% — sustainability is the question.
MEDP generates stronger free cash flow (145M), providing more financial flexibility.
Monitor DIAGNOSTICS & RESEARCH industry trends, competitive dynamics, and regulatory changes.
Bottom Line
MEDP scores higher overall (66/100 vs 50/100), backed by strong 17.2% margins and 26.5% revenue growth. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
Medpace Holdings Inc
HEALTHCARE · DIAGNOSTICS & RESEARCH · USA
Medpace Holdings, Inc. provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company is headquartered in Cincinnati, Ohio.
Waters Corporation
HEALTHCARE · DIAGNOSTICS & RESEARCH · USA
Waters Corporation is a publicly traded Analytical Laboratory instrument and software company headquartered in Milford, Massachusetts.
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