Medpace Holdings, Inc. MEDP

Industrials SIC 8731 - Services-Commercial Physical & Biological Research NAICS Professional, Scientific, and Technical Services › Scientific Research and Development Services › Research and Development in the Physical, Engineering, and Life Sciences › Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology) derived Nasdaq

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).

Last close 669.20 2026-10-23
Market cap $18.68B 2026-06-30 share count
52-week range 373.00 - 684.52

Valuation FY2025 figures against the last close

P/S7.4x
P/E43.8x
P/FCF27.4x
EV/EBITDA33.2x
Dividend yield—
Diluted EPS15.28

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 15.6413.069.207.575.064.072.792.051.000.38
EPS, diluted 15.2812.638.887.284.813.842.671.970.980.37
Shares, diluted (wtd. avg.) 29.5M32.0M31.8M33.7M37.7M37.7M37.6M36.9M39.8M36.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 1B 2B 3B Revenue, FY2016: 421.6M Net income, FY2016: 13.4M Revenue, FY2017: 436.2M Net income, FY2017: 39.1M Revenue, FY2018: 704.6M Net income, FY2018: 73.2M Revenue, FY2019: 861M Net income, FY2019: 100.4M Revenue, FY2020: 925.9M Net income, FY2020: 145.4M Revenue, FY2021: 1.1B Net income, FY2021: 181.8M Revenue, FY2022: 1.5B Net income, FY2022: 245.4M Revenue, FY2023: 1.9B Net income, FY2023: 282.8M Revenue, FY2024: 2.1B Net income, FY2024: 404.4M Revenue, FY2025: 2.5B Net income, FY2025: 451.1M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
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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