Medpace Holdings, Inc. MEDP
We are one of the world's leading clinical contract research organizations, or CROs, by revenue, solely focused on providing scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Our mission is to accelerate the global development of safe and effective medical therapeutics. We differentiate ourselves from our competitors by our disciplined operating model centered on providing full-service Phase I-IV clinical development services and our therapeutic expertise. We believe this combination results in timely and cost-effective delivery of clinical development services for our customers. We believe that we are a partner of choice for small and mid-sized biopharmaceutical companies based on our ability to consistently utilize our full-service, disciplined operating model to deliver timely and high-quality results for our customers. Accordingly, our business strategy aims to continue to expand our market share in the growing Phase I-IV CRO market as we conduct clinical trials across all major therapeutic areas, with particular strength in Oncology, Metabolic, Cardiology, Antiviral and Anti-infective (AVAI) and Central Nervous System (CNS).
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.53B | $2.11B | $1.89B | $1.46B | $1.14B | $925.9M | $861.0M | $704.6M | $436.2M | $421.6M |
| SG&A | $197.6M | $180.2M | $161.4M | $131.4M | $108.4M | $92.2M | $95.2M | $75.7M | $63.4M | $61.5M |
| Total operating expenses | $2.00B | $1.66B | $1.55B | $1.18B | $943.8M | $758.9M | $733.7M | $603.5M | $371.3M | $369.1M |
| Operating income | $534.9M | $446.9M | $336.8M | $278.7M | $198.6M | $167.0M | $127.3M | $101.0M | $64.9M | $52.5M |
| Pre-tax income | $542.4M | $475.9M | $335.7M | $282.9M | $201.9M | $168.5M | $124.8M | $94.0M | $56.9M | $22.0M |
| Income tax | $91.3M | $71.5M | $52.9M | $37.5M | $20.0M | $23.1M | $24.4M | $20.8M | $17.8M | $8.5M |
| Net income | $451.1M | $404.4M | $282.8M | $245.4M | $181.8M | $145.4M | $100.4M | $73.2M | $39.1M | $13.4M |
| EPS, basic | 15.64 | 13.06 | 9.20 | 7.57 | 5.06 | 4.07 | 2.79 | 2.05 | 1.00 | 0.38 |
| EPS, diluted | 15.28 | 12.63 | 8.88 | 7.28 | 4.81 | 3.84 | 2.67 | 1.97 | 0.98 | 0.37 |
| Shares, diluted (wtd. avg.) | 29.5M | 32.0M | 31.8M | 33.7M | 37.7M | 37.7M | 37.6M | 36.9M | 39.8M | 36.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $497.0M | $669.4M | $245.4M | $28.3M | $461.3M | $277.8M | $131.9M | $23.3M | $26.5M | $37.4M |
| Receivables | $402.1M | $296.4M | $298.4M | $253.4M | $186.4M | $161.0M | $155.7M | $133.4M | $83.1M | $79.8M |
| Total current assets | $989.6M | $1.03B | $593.8M | $334.0M | $690.9M | $473.7M | $317.0M | $177.7M | $130.0M | $133.2M |
| Property, plant and equipment | $131.1M | $123.6M | $120.6M | $109.8M | $93.2M | $85.0M | $47.3M | $37.6M | $48.7M | $43.8M |
| Goodwill | $662.4M | $662.4M | $662.4M | $662.4M | $662.4M | $662.4M | $662.4M | $661.0M | $661.0M | $661.0M |
| Other intangibles | $33.4M | $34.4M | $35.8M | $38.0M | $41.4M | $46.5M | $54.4M | $69.2M | $98.7M | $136.1M |
| Total assets | $1.98B | $2.10B | $1.66B | $1.35B | $1.66B | $1.39B | $1.14B | $1.00B | $950.7M | $979.1M |
| Accounts payable | $28.1M | $32.5M | $31.9M | $33.1M | $25.7M | $26.6M | $22.4M | $16.7M | $16.7M | $10.9M |
| Short-term debt | — | — | $0 | $50.0M | $0 | — | — | $0 | $16.5M | $12.4M |
| Total current liabilities | $1.34B | $1.10B | $925.1M | $803.5M | $557.2M | $440.1M | $343.0M | $263.1M | $192.7M | $168.6M |
| Long-term debt | — | — | — | — | — | — | $0 | $79.7M | $205.1M | $151.3M |
| Total liabilities | $1.52B | $1.28B | $1.10B | $966.1M | $707.0M | $584.9M | $416.8M | $405.9M | $447.2M | $368.4M |
| Retained earnings | -$460.0M | $8.2M | -$221.6M | -$359.8M | $235.0M | $115.2M | $68.1M | -$32.3M | -$120.4M | -$9.6M |
| Total equity | $459.1M | $825.5M | $559.0M | $386.4M | $952.9M | $805.8M | $726.3M | $598.9M | $509.3M | $610.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $713.2M | $608.8M | $433.4M | $388.1M | $263.3M | $258.7M | $201.9M | $156.6M | $97.4M | $91.7M |
| Depreciation and amortisation | $27.2M | $27.8M | $24.1M | $19.0M | $16.0M | $11.7M | $8.4M | $9.2M | $8.6M | $7.4M |
| Stock-based compensation | $34.8M | $25.5M | $20.5M | $21.4M | $14.5M | $13.8M | $20.7M | $6.5M | $4.5M | $9.8M |
| Capital expenditure | $31.4M | $36.5M | $36.6M | $36.9M | $28.3M | $31.3M | $17.9M | $16.0M | $11.7M | $13.5M |
| Investing cash flow | -$31.1M | -$28.3M | -$34.6M | -$38.7M | -$31.4M | -$31.2M | -$19.1M | -$17.0M | -$12.2M | -$13.4M |
| Financing cash flow | -$860.4M | -$154.0M | -$182.6M | -$775.8M | -$44.5M | -$82.3M | -$73.9M | -$141.6M | -$97.8M | -$58.0M |
| Buybacks | $917.4M | $169.9M | $144.0M | $847.8M | $62.1M | $98.3M | $0 | $0 | $155.6M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001668397-26-000006.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $421.6M | $436.2M | $704.6M | $861.0M | $925.9M | $1.14B | $1.46B | $1.89B | $2.11B | $2.53B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $13.4M | $39.1M | $73.2M | $100.4M | $145.4M | $181.8M | $245.4M | $282.8M | $404.4M | $451.1M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced Item 2.02
- Officer or director change Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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