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Medpace (MEDP) Financials

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$420.52 -3.48 (-0.82%)
As of 01:43 PM Eastern
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Annual Income Statements for Medpace

Annual Income Statements for Medpace

This table shows Medpace's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -8.67 13 39 73 100 145 182 245 283 404 451
Consolidated Net Income / (Loss)		 -8.67 13 39 73 100 145 182 245 283 404 451
Net Income / (Loss) Continuing Operations		 -8.67 13 39 73 100 145 182 245 283 404 451
Total Pre-Tax Income 		-7.83 22 57 94 125 169 202 283 336 476 542
Total Operating Income		 21 52 65 101 127 167 199 279 337 447 535
Total Gross Profit		 320 371 224 216 861 926 1,142 1,460 1,886 2,109 2,530
Total Revenue		 359 422 436 705 861 926 1,142 1,460 1,886 2,109 2,530
Operating Revenue		 359 422 436 705 861 926 1,142 1,460 1,886 2,109 2,530
Total Cost of Revenue		 39 51 212 489 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 300 318 160 114 734 759 944 1,181 1,549 1,662 1,995
Selling, General & Admin Expense		 57 62 63 76 95 92 108 131 161 180 198
Depreciation Expense		 6.38 7.44 8.57 9.24 8.36 12 16 19 24 28 27
Amortization Expense		 63 51 38 30 15 7.88 5.11 3.35 2.20 1.44 0.95
Other Operating Expenses / (Income)		 164 199 50 - 615 647 814 1,028 1,361 1,453 1,770
Total Other Income / (Expense), net		 -28 -31 -7.91 -7.10 -2.43 1.49 3.24 4.16 -1.14 29 7.44
Interest & Investment Income		 -27 -19 -7.56 -8.16 -1.57 0.31 -0.11 -2.91 -0.49 25 13
Other Income / (Expense), net		 -1.13 -0.42 -0.35 1.06 -0.86 1.18 3.34 7.07 -0.66 4.06 -5.34
Income Tax Expense		 0.84 8.53 18 21 24 23 20 37 53 72 91
Basic Earnings per Share		 ($0.28) $0.38 $1.00 $2.05 $2.79 $4.07 $5.06 $7.57 $9.20 $13.06 $15.64
Weighted Average Basic Shares Outstanding		 31.35M 35.69M 39.06M 35.55M 35.88M 35.64M 35.86M 32.39M 30.72M 30.96M 28.85M
Diluted Earnings per Share		 ($0.28) $0.37 $0.98 $1.97 $2.67 $3.84 $4.81 $7.28 $8.88 $12.63 $15.28
Weighted Average Diluted Shares Outstanding		 31.35M 36.33M 39.84M 36.91M 37.58M 37.71M 37.70M 33.67M 31.84M 32.01M 29.53M
Weighted Average Basic & Diluted Shares Outstanding		 31M 35.30M 39.10M 35.70M 36.09M 35.73M 35.23M 31.05M 61.52M 30.47M 28.38M

Quarterly Income Statements for Medpace

This table shows Medpace's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 71 78 103 88 96 117 115 90 111 135 124
Consolidated Net Income / (Loss)		 71 78 103 88 96 117 115 90 111 135 124
Net Income / (Loss) Continuing Operations		 71 78 103 88 96 117 115 90 111 135 124
Total Pre-Tax Income 		83 91 113 110 119 134 118 125 143 157 148
Total Operating Income		 85 87 104 105 112 125 114 126 142 153 142
Total Gross Profit		 492 498 511 528 533 537 559 603 660 708 707
Total Revenue		 492 498 511 528 533 537 559 603 660 708 707
Operating Revenue		 492 498 511 528 533 537 559 603 660 708 707
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 408 411 407 423 421 411 445 477 518 555 565
Selling, General & Admin Expense		 41 43 44 41 49 45 58 47 48 45 48
Depreciation Expense		 6.33 6.42 6.63 6.87 7.16 7.15 6.69 6.78 6.81 6.89 6.75
Amortization Expense		 0.55 0.55 0.36 0.36 0.36 0.36 0.24 0.24 0.24 0.24 0.16
Other Operating Expenses / (Income)		 359 362 356 374 364 358 380 423 463 503 510
Total Other Income / (Expense), net		 -1.71 3.39 8.71 5.33 6.50 8.50 4.65 -1.80 1.03 3.56 6.09
Interest & Investment Income		 -0.11 1.84 4.12 5.47 7.53 7.88 6.46 1.08 1.52 3.72 5.12
Other Income / (Expense), net		 -1.60 1.54 4.59 -0.13 -1.03 0.62 -1.82 -2.88 -0.49 -0.16 0.97
Income Tax Expense		 13 12 10 22 22 17 3.58 34 32 22 24
Basic Earnings per Share		 $2.30 $2.55 $3.32 $2.85 $3.11 $3.78 $3.77 $3.16 $3.95 $4.76 $4.35
Weighted Average Basic Shares Outstanding		 30.63M 30.72M 30.84M 30.99M 31.05M 30.96M 30.39M 28.60M 28.14M 28.85M 28.45M
Diluted Earnings per Share		 $2.22 $2.46 $3.20 $2.75 $3.01 $3.67 $3.67 $3.10 $3.86 $4.65 $4.28
Weighted Average Diluted Shares Outstanding		 31.76M 31.84M 32.00M 32.09M 32.09M 32.01M 31.20M 29.14M 28.82M 29.53M 28.96M
Weighted Average Basic & Diluted Shares Outstanding		 61.37M 61.52M 30.98M 31.00M 31.08M 30.47M 28.74M 28.09M 28.17M 28.38M 28.56M

Annual Cash Flow Statements for Medpace

This table details how cash moves in and out of Medpace's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -38 20 -11 -3.21 109 146 184 -433 217 424 -172
Net Cash From Operating Activities		 86 92 97 157 202 259 263 388 433 609 713
Net Cash From Continuing Operating Activities		 86 92 97 157 202 259 263 388 433 609 713
Net Income / (Loss) Continuing Operations		 -8.67 13 39 73 100 145 182 245 283 404 451
Consolidated Net Income / (Loss)		 -8.67 13 39 73 100 145 182 245 283 404 451
Depreciation Expense		 6.38 7.44 8.57 9.24 8.36 12 16 19 24 28 27
Amortization Expense		 66 53 30 22 15 7.17 5.11 3.35 2.20 1.44 0.95
Non-Cash Adjustments To Reconcile Net Income		 41 40 17 44 32 80 104 155 121 174 176
Changes in Operating Assets and Liabilities, net		 -19 -22 3.09 7.95 46 15 -44 -35 3.11 1.23 58
Net Cash From Investing Activities		 -6.43 -13 -12 -17 -19 -31 -31 -39 -35 -28 -31
Net Cash From Continuing Investing Activities		 -6.43 -13 -12 -17 -19 -31 -31 -39 -35 -28 -31
Purchase of Property, Plant & Equipment		 -6.47 -14 -12 -16 -18 -31 -28 -37 -37 -37 -31
Other Investing Activities, net		 0.03 0.12 0.06 -0.95 -1.23 0.13 -3.09 -1.86 2.02 8.24 0.22
Net Cash From Financing Activities		 -116 -58 -98 -142 -74 -82 -44 -776 -183 -154 -860
Net Cash From Continuing Financing Activities		 -116 -58 -98 -142 -74 -82 -44 -776 -183 -154 -860
Repayment of Debt		 -117 -394 -44 -144 -80 0.00 0.00 -274 -155 0.00 0.00
Repurchase of Common Equity		 0.00 -2.72 -156 0.00 0.00 -98 -62 -848 -144 -170 -917
Issuance of Debt		 0.00 165 100 - - 0.00 0.00 324 105 0.00 0.00
Other Financing Activities, net		 0.25 0.56 1.81 2.49 6.52 16 18 22 11 16 57
Other Net Changes in Cash		 - -0.63 1.77 -1.24 - 0.67 -3.97 -6.57 1.08 -2.51 5.92
Cash Interest Paid		 24 17 6.89 7.59 1.49 0.10 0.12 2.94 3.06 0.17 0.00
Cash Income Taxes Paid		 11 18 17 23 13 23 56 50 76 84 40

Quarterly Cash Flow Statements for Medpace

This table details how cash moves in and out of Medpace's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 56 150 162 104 146 13 -228 -395 239 212 156
Net Cash From Operating Activities		 114 156 153 116 149 191 126 149 246 193 152
Net Cash From Continuing Operating Activities		 114 156 153 116 149 191 126 149 246 193 152
Net Income / (Loss) Continuing Operations		 71 78 103 88 96 117 115 90 111 135 124
Consolidated Net Income / (Loss)		 71 78 103 88 96 117 115 90 111 135 124
Depreciation Expense		 6.33 6.42 6.63 6.87 7.16 7.15 6.69 6.78 6.81 6.89 6.75
Amortization Expense		 0.55 0.55 0.36 0.36 18 6.18 0.24 0.24 0.24 0.24 0.16
Non-Cash Adjustments To Reconcile Net Income		 12 12 57 20 -70 -18 24 96 -74 130 7.83
Changes in Operating Assets and Liabilities, net		 25 59 -14 0.44 97 79 -20 -44 202 -79 13
Net Cash From Investing Activities		 -8.66 -8.00 2.53 -13 -10 -7.56 -9.99 -6.02 -11 -4.47 -6.75
Net Cash From Continuing Investing Activities		 -8.66 -8.00 2.53 -13 -10 -7.56 -9.99 -6.02 -11 -4.47 -6.75
Purchase of Property, Plant & Equipment		 -8.70 -9.99 -5.50 -13 -11 -7.64 -9.99 -6.11 -11 -4.54 -6.81
Other Investing Activities, net		 0.04 1.99 8.03 0.08 0.05 0.08 0.01 0.09 0.05 0.06 0.07
Net Cash From Financing Activities		 -49 1.52 7.66 0.67 6.27 -169 -346 -541 3.41 23 13
Net Cash From Continuing Financing Activities		 -49 1.52 7.66 0.67 6.27 -169 -346 -541 3.41 23 13
Repurchase of Common Equity		 - - 0.00 - - -170 -372 -541 -4.57 - 0.00
Other Financing Activities, net		 5.73 1.52 7.66 0.67 6.27 1.26 26 0.35 7.99 23 13
Other Net Changes in Cash		 - - -1.31 -0.39 - - 2.12 2.95 - - -2.08

Annual Balance Sheets for Medpace

This table presents Medpace's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 1/1/2019 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 984 979 951 1,005 1,143 1,391 1,660 1,352 1,657 2,101 1,975
Total Current Assets		 95 133 130 178 317 474 691 334 594 1,029 990
Cash & Equivalents		 15 37 26 0.00 132 278 461 28 245 669 497
Accounts Receivable		 65 80 83 0.00 156 161 186 253 298 296 402
Prepaid Expenses		 12 16 20 21 29 35 43 52 50 63 90
Plant, Property, & Equipment, net		 38 44 49 38 47 85 93 110 121 124 131
Total Noncurrent Assets		 852 802 772 52 779 832 876 909 942 948 855
Goodwill		 661 661 661 0.00 662 662 662 662 662 662 662
Intangible Assets		 187 136 99 0.00 54 46 41 38 36 34 33
Noncurrent Deferred & Refundable Income Taxes		 0.16 0.10 6.34 0.00 0.38 0.54 25 48 74 100 19
Other Noncurrent Operating Assets		 3.93 4.90 5.94 52 62 123 147 160 170 151 140
Total Liabilities & Shareholders' Equity		 984 979 951 1,005 1,143 1,391 1,660 1,352 1,657 2,101 1,975
Total Liabilities		 571 368 447 406 417 585 707 966 1,098 1,275 1,516
Total Current Liabilities		 134 169 193 263 343 440 557 803 925 1,105 1,344
Accounts Payable		 8.73 11 17 0.00 22 27 26 33 32 33 28
Accrued Expenses		 20 24 24 0.00 109 134 159 210 293 308 408
Current Deferred Revenue		 51 66 74 0.00 192 256 345 463 560 711 854
Other Current Liabilities		 54 55 62 11 19 24 28 48 40 54 53
Total Noncurrent Liabilities		 437 200 254 63 74 145 150 163 173 171 173
Noncurrent Deferred & Payable Income Tax Liabilities		 21 12 0.56 3.16 13 14 1.08 1.07 2.40 1.80 1.36
Other Noncurrent Operating Liabilities		 7.29 7.97 11 60 16 131 149 162 170 169 171
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 413 611 504 -32 726 806 953 386 559 826 459
Total Preferred & Common Equity		 413 611 504 599 726 806 953 386 559 826 459
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 413 611 504 -32 726 806 953 386 559 826 459
Common Stock		 439 624 631 0.00 667 696 728 771 803 844 936
Retained Earnings		 -23 -9.58 -120 -32 68 115 235 -360 -222 8.17 -460
Treasury Stock		 - 0.00 -6.03 0.00 -6.03 -5.58 -5.43 -12 -12 -12 -12
Accumulated Other Comprehensive Income / (Loss)		 -2.56 -3.74 -0.73 0.00 -2.74 -0.13 -4.85 -12 -10 -15 -4.91

Quarterly Balance Sheets for Medpace

This table presents Medpace's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 1,328 1,396 1,407 1,487 1,796 1,920 2,084 1,897 1,572 1,753 2,130
Total Current Assets		 338 368 379 449 745 873 1,033 821 521 737 1,139
Cash & Equivalents		 31 47 39 95 407 511 657 441 46 285 653
Accounts Receivable		 249 258 275 293 279 301 311 298 378 373 395
Prepaid Expenses		 58 63 65 61 59 61 64 82 97 79 92
Plant, Property, & Equipment, net		 105 114 115 115 119 122 124 128 135 133 137
Total Noncurrent Assets		 886 914 913 923 932 925 927 948 915 883 854
Goodwill		 662 662 662 662 662 662 662 662 662 662 662
Intangible Assets		 39 37 37 36 35 35 35 34 34 34 33
Noncurrent Deferred & Refundable Income Taxes		 27 49 52 59 75 75 77 100 66 37 3.22
Other Noncurrent Operating Assets		 158 165 162 165 159 152 154 151 153 149 155
Total Liabilities & Shareholders' Equity		 1,328 1,396 1,407 1,487 1,796 1,920 2,084 1,897 1,572 1,753 2,130
Total Liabilities		 979 1,048 1,016 1,016 1,124 1,156 1,203 1,304 1,399 1,459 1,531
Total Current Liabilities		 821 882 852 849 957 993 1,041 1,122 1,220 1,284 1,345
Accounts Payable		 28 37 34 29 24 27 26 61 43 27 34
Accrued Expenses		 204 201 232 265 271 293 307 286 324 369 406
Current Deferred Revenue		 418 466 491 519 617 638 671 719 809 834 856
Other Current Liabilities		 31 63 41 36 45 35 37 56 45 54 48
Total Noncurrent Liabilities		 158 167 163 167 168 163 161 181 179 175 186
Noncurrent Deferred & Payable Income Tax Liabilities		 0.91 1.09 1.10 1.13 2.36 2.29 2.29 1.84 2.02 1.90 3.93
Other Noncurrent Operating Liabilities		 157 165 162 166 165 161 159 180 177 174 182
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 350 347 391 471 672 764 881 594 172 294 598
Total Preferred & Common Equity		 350 347 391 471 672 764 881 594 172 294 598
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 350 347 391 471 672 764 881 594 172 294 598
Common Stock		 760 779 786 796 815 819 837 887 893 908 954
Retained Earnings		 -380 -408 -371 -300 -119 -31 66 -270 -703 -596 -336
Treasury Stock		 -14 -12 -12 -12 -12 -12 -12 -12 -12 -12 -12
Accumulated Other Comprehensive Income / (Loss)		 -16 -11 -11 -13 -12 -13 -9.18 -12 -5.65 -5.65 -7.12

Annual Metrics And Ratios for Medpace

This table displays calculated financial ratios and metrics derived from Medpace's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 17.41% 3.46% 61.55% 22.19% 7.54% 23.38% 27.80% 29.17% 11.84% 19.97%
EBITDA Growth		 0.00% 23.05% -8.78% 30.09% 11.90% 24.91% 19.26% 38.12% 17.65% 38.84% 16.15%
EBIT Growth		 0.00% 167.99% 23.89% 58.30% 23.79% 33.09% 20.05% 41.50% 17.64% 34.14% 17.45%
NOPAT Growth		 0.00% 122.97% 38.84% 76.65% 30.09% 40.72% 24.17% 35.11% 17.38% 33.80% 17.18%
Net Income Growth		 0.00% 254.79% 191.41% 87.07% 37.25% 44.74% 25.08% 34.93% 15.26% 42.99% 11.56%
EPS Growth		 0.00% 232.14% 164.86% 101.02% 35.53% 43.82% 25.26% 51.35% 21.98% 42.23% 20.98%
Operating Cash Flow Growth		 0.00% 6.83% 6.16% 60.79% 28.92% 28.14% 1.80% 47.36% 11.68% 40.48% 17.15%
Free Cash Flow Firm Growth		 0.00% 0.00% 20.13% 805.31% -165.24% 151.06% -15.78% 51.06% 16.34% 41.94% 18.98%
Invested Capital Growth		 0.00% -4.79% -5.25% -94.97% 1,654.81% -17.44% -6.89% -16.98% -23.18% -50.20% -124.33%
Revenue Q/Q Growth		 0.00% 0.00% 1.03% 12.71% 4.59% 3.32% 4.47% 6.22% 5.85% 1.84% 7.29%
EBITDA Q/Q Growth		 0.00% 0.00% -9.07% 19.57% 0.22% 11.02% 1.09% 6.37% 4.46% 9.46% 0.65%
EBIT Q/Q Growth		 0.00% 0.00% 3.10% 17.48% 4.04% 12.66% 0.60% 6.93% 4.47% 8.97% 5.40%
NOPAT Q/Q Growth		 0.00% 0.00% 11.85% 16.38% 6.16% 17.37% -1.12% 9.95% 1.55% 9.92% 5.26%
Net Income Q/Q Growth		 0.00% 0.00% 40.68% 18.59% 7.55% 16.93% -0.46% 8.22% 3.52% 10.59% 4.18%
EPS Q/Q Growth		 0.00% 0.00% 48.48% 17.96% 8.10% 16.72% -0.62% 11.66% 4.47% 10.60% 6.85%
Operating Cash Flow Q/Q Growth		 0.00% 0.67% -0.42% 7.40% 9.49% 23.11% -11.61% 20.42% 4.77% 5.96% 0.28%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 501.96% -533.22% 159.70% -40.90% 24.62% 4.43% 8.15% 0.01%
Invested Capital Q/Q Growth		 0.00% 0.00% -1.69% -94.62% -2.91% -22.70% -1.62% -11.00% -16.56% -30.48% -558.12%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 89.15% 87.91% 51.45% 30.59% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 25.52% 26.75% 23.58% 18.99% 17.39% 20.20% 19.53% 21.10% 19.22% 23.86% 22.04%
Operating Margin		 5.73% 12.45% 14.87% 14.34% 14.78% 18.04% 17.39% 19.09% 17.86% 21.19% 21.14%
EBIT Margin		 5.41% 12.35% 14.79% 14.49% 14.68% 18.17% 17.68% 19.57% 17.83% 21.38% 20.93%
Profit (Net Income) Margin		 -2.42% 3.18% 8.97% 10.39% 11.67% 15.70% 15.92% 16.81% 15.00% 19.17% 17.83%
Tax Burden Percent		 110.77% 61.14% 68.70% 77.90% 80.46% 86.26% 90.09% 86.75% 84.25% 84.97% 83.18%
Interest Burden Percent		 -40.30% 42.17% 88.28% 92.01% 98.76% 100.18% 99.95% 98.98% 99.85% 105.54% 102.41%
Effective Tax Rate		 0.00% 38.86% 31.30% 22.10% 19.54% 13.74% 9.91% 13.25% 15.75% 15.03% 16.82%
Return on Invested Capital (ROIC)		 1.79% 4.09% 5.98% 20.67% 30.29% 24.68% 35.10% 53.74% 78.65% 161.71% 753.29%
ROIC Less NNEP Spread (ROIC-NNEP)		 -4.12% -2.76% 3.09% 16.86% 52.12% 23.98% 34.31% 52.10% 79.51% 156.31% 752.23%
Return on Net Nonoperating Assets (RNNOA)		 -3.89% -1.47% 1.04% 10.40% -1.35% -5.70% -14.42% -17.10% -18.82% -103.29% -683.05%
Return on Equity (ROE)		 -2.10% 2.62% 7.02% 31.06% 28.95% 18.98% 20.68% 36.64% 59.83% 58.42% 70.23%
Cash Return on Invested Capital (CROIC)		 0.00% 8.99% 11.37% 201.53% -148.14% 43.79% 42.23% 72.30% 104.87% 228.74% 0.00%
Operating Return on Assets (OROA)		 1.97% 5.30% 6.69% 10.44% 11.77% 13.28% 13.24% 18.97% 22.34% 24.00% 25.98%
Return on Assets (ROA)		 -0.88% 1.37% 4.05% 7.49% 9.35% 11.48% 11.92% 16.29% 18.80% 21.52% 22.13%
Return on Common Equity (ROCE)		 -2.10% 2.62% 7.02% 31.06% 28.95% 18.98% 20.68% 36.64% 59.83% 58.42% 70.23%
Return on Equity Simple (ROE_SIMPLE)		 -2.10% 2.20% 7.77% 12.22% 13.83% 18.04% 19.08% 63.50% 50.60% 48.98% 0.00%
Net Operating Profit after Tax (NOPAT)		 14 32 45 79 102 144 179 242 284 380 445
NOPAT Margin		 4.01% 7.61% 10.22% 11.17% 11.89% 15.56% 15.66% 16.56% 15.05% 18.00% 17.58%
Net Nonoperating Expense Percent (NNEP)		 5.91% 6.85% 2.89% 3.81% -21.82% 0.71% 0.79% 1.64% -0.86% 5.40% 1.06%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 55.40% 50.77% 45.99% 96.92%
Cost of Revenue to Revenue		 10.85% 12.09% 48.55% 69.41% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 15.87% 14.59% 14.53% 10.74% 11.06% 9.95% 9.49% 9.00% 8.56% 8.54% 7.81%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 83.42% 75.46% 36.57% 16.25% 85.22% 81.96% 82.61% 80.91% 82.14% 78.81% 78.86%
Earnings before Interest and Taxes (EBIT)		 19 52 65 102 126 168 202 286 336 451 530
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 92 113 103 134 150 187 223 308 362 503 558
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 2.41 2.71 0.00 4.17 6.18 8.21 17.10 16.83 12.51 34.46
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 317.58 51.38 31.39 0.00 0.00 80.18 0.00
Price to Revenue (P/Rev)		 0.00 3.48 3.13 2.67 3.52 5.38 6.85 4.52 4.99 4.90 6.25
Price to Earnings (P/E)		 0.00 109.41 34.86 25.75 30.15 34.25 43.01 26.92 33.26 25.54 35.07
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.91% 2.87% 3.88% 3.32% 2.92% 2.32% 3.71% 3.01% 3.92% 2.85%
Enterprise Value to Invested Capital (EV/IC)		 0.00 2.12 2.19 51.71 4.60 8.90 14.97 16.24 29.22 61.86 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 3.85 3.63 2.67 3.42 5.08 6.44 4.54 4.86 4.58 6.06
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 14.40 15.41 14.08 19.65 25.14 33.00 21.51 25.27 19.19 27.48
Enterprise Value to EBIT (EV/EBIT)		 0.00 31.18 24.58 18.46 23.28 27.95 36.45 23.19 27.25 21.42 28.93
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 50.59 35.58 23.94 28.73 32.63 41.14 27.41 32.28 25.43 34.44
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 17.70 16.28 12.04 14.57 18.18 27.95 17.08 21.14 15.86 21.49
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 23.01 18.70 2.46 0.00 18.39 34.18 20.38 24.21 17.98 23.98
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.99 0.31 0.49 0.00 0.06 0.00 0.00 0.13 0.00 0.00 0.00
Long-Term Debt to Equity		 0.99 0.29 0.46 0.00 0.06 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.94 0.53 0.34 0.62 -0.03 -0.24 -0.42 -0.33 -0.24 -0.66 -0.91
Leverage Ratio		 2.38 1.92 1.73 4.15 3.10 1.65 1.73 2.25 3.18 2.71 3.17
Compound Leverage Factor		 -0.96 0.81 1.53 3.82 3.06 1.66 1.73 2.23 3.18 2.86 3.25
Debt to Total Capital		 49.68% 23.94% 33.02% 0.00% 5.86% 0.00% 0.00% 11.46% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.01% 1.54% 2.19% 0.00% 0.00% 0.00% 0.00% 11.46% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 49.67% 22.39% 30.82% 0.00% 5.86% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 50.32% 76.07% 66.98% 100.00% 94.14% 100.00% 100.00% 88.54% 100.00% 100.00% 100.00%
Debt to EBITDA		 4.45 1.70 2.41 0.00 0.30 0.00 0.00 0.16 0.00 0.00 0.00
Net Debt to EBITDA		 4.26 1.37 2.16 0.00 -0.58 0.00 0.00 0.07 0.00 0.00 0.00
Long-Term Debt to EBITDA		 4.45 1.59 2.25 0.00 0.30 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 28.36 5.99 5.57 0.00 0.44 0.00 0.00 0.21 0.00 0.00 0.00
Net Debt to NOPAT		 27.13 4.82 4.98 0.00 -0.85 0.00 0.00 0.09 0.00 0.00 0.00
Long-Term Debt to NOPAT		 28.36 5.60 5.20 0.00 0.44 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 2.94 2.26 3.68 5.53 6.32 8.02 5.09 6.52 6.53 7.88
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.71 0.79 0.67 0.68 0.92 1.08 1.24 0.42 0.64 0.93 0.74
Quick Ratio		 0.60 0.69 0.57 0.00 0.84 1.00 1.16 0.35 0.59 0.87 0.67
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 71 85 768 -501 256 215 325 378 537 639
Operating Cash Flow to CapEx		 1,328.23% 677.64% 830.65% 977.18% 1,126.99% 825.39% 931.44% 1,052.22% 1,182.53% 1,665.80% 2,274.60%
Free Cash Flow to Firm to Interest Expense		 0.00 6.58 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 8.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 7.29 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.36 0.43 0.45 0.72 0.80 0.73 0.75 0.97 1.25 1.12 1.24
Accounts Receivable Turnover		 5.52 5.82 5.36 0.00 0.00 5.85 6.58 6.64 6.84 7.09 7.24
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 9.57 10.37 9.43 16.32 20.28 14.00 12.82 14.38 16.37 17.27 19.87
Accounts Payable Turnover		 4.46 5.19 15.35 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 66.16 62.71 68.14 0.00 0.00 62.41 55.50 54.98 53.40 51.47 50.38
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 81.77 70.33 23.77 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 -15.61 -7.62 44.37 0.00 0.00 62.41 55.50 54.98 53.40 51.47 50.38
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 804 765 725 36 640 528 492 408 314 156 -38
Invested Capital Turnover		 0.45 0.54 0.59 1.85 2.55 1.59 2.24 3.25 5.23 8.98 42.84
Increase / (Decrease) in Invested Capital		 0.00 -38 -40 -689 603 -112 -36 -84 -95 -157 -194
Enterprise Value (EV)		 0.00 1,624 1,585 1,885 2,942 4,702 7,361 6,628 9,160 9,657 15,324
Market Capitalization		 0.00 1,469 1,364 1,885 3,029 4,979 7,822 6,606 9,405 10,326 15,821
Book Value per Share		 $13.19 $15.00 $13.39 ($0.91) $20.16 $22.53 $26.52 $12.42 $18.22 $26.56 $16.30
Tangible Book Value per Share		 ($13.85) ($4.58) ($6.81) ($0.91) $0.26 $2.71 $6.93 ($10.10) ($4.54) $4.14 ($8.40)
Total Capital		 822 803 752 -32 771 806 953 436 559 826 459
Total Debt		 408 192 248 0.00 45 0.00 0.00 50 0.00 0.00 0.00
Total Long-Term Debt		 408 180 232 0.00 45 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 390 155 222 0.00 -87 -278 -461 22 -245 -669 -497
Capital Expenditures (CapEx)		 6.47 14 12 16 18 31 28 37 37 37 31
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -57 -60 -73 -85 -158 -244 -328 -448 -577 -745 -851
Debt-free Net Working Capital (DFNWC)		 -39 -23 -46 -85 -26 34 134 -420 -331 -75 -354
Net Working Capital (NWC)		 -39 -35 -63 -85 -26 34 134 -470 -331 -75 -354
Net Nonoperating Expense (NNE)		 23 19 5.44 5.53 1.96 -1.29 -2.92 -3.61 0.96 -25 -6.19
Net Nonoperating Obligations (NNO)		 390 155 222 69 -87 -278 -461 22 -245 -669 -497
Total Depreciation and Amortization (D&A)		 72 61 38 32 23 19 21 22 26 52 28
Debt-free, Cash-free Net Working Capital to Revenue		 -15.87% -14.32% -16.67% -12.12% -18.34% -26.38% -28.68% -30.67% -30.58% -35.31% -33.64%
Debt-free Net Working Capital to Revenue		 -10.93% -5.45% -10.60% -12.12% -3.02% 3.62% 11.70% -28.73% -17.57% -3.57% -14.00%
Net Working Capital to Revenue		 -10.94% -8.39% -14.38% -12.12% -3.02% 3.62% 11.70% -32.16% -17.57% -3.57% -14.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.38 $1.00 $2.05 $2.79 $4.07 $5.06 $7.57 $9.20 $13.06 $15.64
Adjusted Weighted Average Basic Shares Outstanding		 0.00 35.69M 39.06M 35.55M 35.88M 35.64M 35.86M 32.39M 30.72M 30.96M 28.85M
Adjusted Diluted Earnings per Share		 $0.00 $0.37 $0.98 $1.97 $2.67 $3.84 $4.81 $7.28 $8.88 $12.63 $15.28
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 36.33M 39.84M 36.91M 37.58M 37.71M 37.70M 33.67M 31.84M 32.01M 29.53M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 40.73M 35.48M 35.69M 36.09M 35.73M 35.23M 31.05M 61.52M 30.47M 28.38M
Normalized Net Operating Profit after Tax (NOPAT)		 21 32 45 79 102 144 179 242 284 380 445
Normalized NOPAT Margin		 5.82% 7.61% 10.22% 11.17% 11.89% 15.56% 15.66% 16.56% 15.05% 18.00% 17.58%
Pre Tax Income Margin		 -2.18% 5.21% 13.06% 13.33% 14.50% 18.20% 17.67% 19.37% 17.80% 22.57% 21.44%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 4.85 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 2.99 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 3.59 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 1.73 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 20.25% 397.69% 0.00% 0.00% 67.60% 34.15% 345.54% 50.92% 42.01% 203.36%

Quarterly Metrics And Ratios for Medpace

This table displays calculated financial ratios and metrics derived from Medpace's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 28,381,283.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 28,381,283.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 4.36
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 28.34% 26.47% 17.73% 14.59% 8.29% 7.66% 9.30% 14.24% 23.74% 32.03% 26.50%
EBITDA Growth		 1.03% 19.24% 24.56% 34.22% 50.88% 45.38% 2.58% 16.23% 24.92% 20.03% 25.91%
EBIT Growth		 -0.20% 19.32% 25.06% 36.19% 33.54% 41.79% 2.80% 17.56% 27.03% 21.52% 27.54%
NOPAT Growth		 14.74% 5.76% 29.60% 33.04% 26.60% 45.39% 16.29% 8.89% 21.05% 20.51% 7.88%
Net Income Growth		 6.85% 14.02% 40.74% 44.68% 36.68% 49.45% 11.70% 2.16% 15.25% 15.48% 8.09%
EPS Growth		 8.29% 18.27% 40.97% 42.49% 35.59% 49.19% 14.69% 12.73% 28.24% 26.70% 16.62%
Operating Cash Flow Growth		 5.43% 14.42% 90.67% 41.06% 30.33% 21.91% -17.58% 27.60% 65.16% 1.04% 20.62%
Free Cash Flow Firm Growth		 49.10% 9.84% 36.47% 62.46% 56.46% 57.05% -9.38% -8.42% 34.78% 22.16% 46.24%
Invested Capital Growth		 -18.07% -23.18% -36.31% -37.90% -40.24% -50.20% -42.47% -50.13% -96.31% -124.33% -135.73%
Revenue Q/Q Growth		 6.86% 1.20% 2.54% 3.34% 0.99% 0.61% 4.10% 8.01% 9.38% 7.36% -0.26%
EBITDA Q/Q Growth		 7.84% 6.27% 20.68% -2.94% 21.22% 2.39% -14.85% 9.98% 13.71% 8.00% -6.78%
EBIT Q/Q Growth		 8.04% 6.67% 22.28% -3.35% 5.93% 13.26% -11.34% 10.52% 14.47% 8.34% -6.95%
NOPAT Q/Q Growth		 13.91% 4.69% 25.59% -11.17% 8.40% 20.23% 0.46% -16.83% 20.50% 19.69% -10.07%
Net Income Q/Q Growth		 15.53% 10.98% 31.03% -13.88% 9.14% 21.36% -2.07% -21.24% 23.13% 21.59% -8.33%
EPS Q/Q Growth		 15.03% 10.81% 30.08% -14.06% 9.45% 21.93% 0.00% -15.53% 24.52% 20.47% -7.96%
Operating Cash Flow Q/Q Growth		 38.62% 36.73% -2.38% -23.76% 28.07% 27.90% -34.00% 18.03% 65.77% -21.75% -21.21%
Free Cash Flow Firm Q/Q Growth		 5.58% 9.77% 44.40% -2.92% 1.68% 10.18% -16.68% -1.89% 49.64% -0.13% -0.26%
Invested Capital Q/Q Growth		 -7.67% -16.56% -15.62% -4.47% -11.15% -30.48% -2.52% -17.19% -93.42% -558.12% -43.15%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 18.31% 19.23% 22.63% 21.26% 25.51% 25.96% 21.24% 21.63% 22.48% 22.62% 21.14%
Operating Margin		 17.24% 17.52% 20.36% 19.91% 21.05% 23.37% 20.32% 20.94% 21.49% 21.63% 20.03%
EBIT Margin		 16.92% 17.83% 21.26% 19.89% 20.86% 23.48% 20.00% 20.46% 21.42% 21.61% 20.16%
Profit (Net Income) Margin		 14.32% 15.71% 20.07% 16.73% 18.08% 21.81% 20.52% 14.96% 16.84% 19.07% 17.53%
Tax Burden Percent		 84.79% 86.32% 90.96% 79.97% 81.18% 87.40% 96.97% 72.48% 77.81% 86.16% 83.93%
Interest Burden Percent		 99.87% 102.08% 103.79% 105.20% 106.77% 106.26% 105.79% 100.87% 101.07% 102.43% 103.59%
Effective Tax Rate		 15.21% 13.68% 9.04% 20.03% 18.82% 12.60% 3.03% 27.52% 22.19% 13.84% 16.07%
Return on Invested Capital (ROIC)		 62.43% 79.04% 106.96% 98.00% 117.93% 183.44% 204.00% 178.87% 338.72% 798.54% 920.48%
ROIC Less NNEP Spread (ROIC-NNEP)		 40.97% 76.43% 102.28% 96.28% 116.52% 181.81% 202.94% 179.34% 338.55% 798.01% 919.55%
Return on Net Nonoperating Assets (RNNOA)		 0.67% -18.09% -34.03% -41.28% -64.80% -120.14% -136.10% -106.77% -271.47% -724.63% -844.09%
Return on Equity (ROE)		 63.11% 60.96% 72.93% 56.73% 53.12% 63.29% 67.90% 72.10% 67.25% 73.91% 76.39%
Cash Return on Invested Capital (CROIC)		 86.86% 104.87% 134.33% 145.70% 165.47% 228.74% 243.40% 279.84% 548.84% 0.00% 0.00%
Operating Return on Assets (OROA)		 21.41% 22.35% 26.15% 24.27% 24.20% 26.36% 23.36% 26.16% 26.32% 26.83% 26.82%
Return on Assets (ROA)		 18.13% 19.69% 24.69% 20.42% 20.97% 24.48% 23.96% 19.12% 20.70% 23.68% 23.32%
Return on Common Equity (ROCE)		 63.11% 60.96% 72.93% 56.73% 53.12% 63.29% 67.90% 72.10% 67.25% 73.91% 76.39%
Return on Equity Simple (ROE_SIMPLE)		 58.01% 0.00% 46.54% 44.50% 41.49% 0.00% 70.15% 242.70% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 72 75 95 84 91 110 110 92 110 132 119
NOPAT Margin		 14.62% 15.12% 18.52% 15.92% 17.09% 20.42% 19.71% 15.18% 16.72% 18.64% 16.81%
Net Nonoperating Expense Percent (NNEP)		 21.47% 2.61% 4.68% 1.72% 1.40% 1.62% 1.06% -0.47% 0.17% 0.53% 0.93%
Return On Investment Capital (ROIC_SIMPLE)		 - 13.49% - - - 13.27% 18.55% 53.13% 37.57% 28.77% 19.85%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 8.41% 8.53% 8.63% 7.85% 9.23% 8.47% 10.37% 7.73% 7.29% 6.34% 6.78%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 82.76% 82.48% 79.64% 80.09% 78.95% 76.63% 79.68% 79.06% 78.51% 78.37% 79.97%
Earnings before Interest and Taxes (EBIT)		 83 89 109 105 111 126 112 123 141 153 142
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 90 96 116 112 136 139 119 130 148 160 149
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 15.71 16.83 18.47 16.71 11.74 12.51 15.64 52.34 49.19 34.46 22.78
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 193.00 56.14 80.18 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 4.15 4.99 6.32 6.29 5.00 4.90 4.30 4.04 6.12 6.25 5.09
Price to Earnings (P/E)		 27.09 33.26 39.68 37.55 28.30 25.54 22.29 21.57 33.36 35.07 29.60
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 3.69% 3.01% 2.52% 2.66% 3.53% 3.92% 4.49% 4.64% 3.00% 2.85% 3.38%
Enterprise Value to Invested Capital (EV/IC)		 19.44 29.22 45.34 48.47 43.16 61.86 58.10 71.21 1,707.96 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 4.10 4.86 6.11 6.03 4.68 4.58 4.10 4.02 6.00 6.06 4.84
Enterprise Value to EBITDA (EV/EBITDA)		 21.05 25.27 31.13 29.59 21.08 19.19 17.46 17.11 25.55 27.48 22.05
Enterprise Value to EBIT (EV/EBIT)		 22.70 27.25 33.51 31.75 23.42 21.42 19.48 19.00 28.18 28.93 23.16
Enterprise Value to NOPAT (EV/NOPAT)		 26.14 32.28 39.22 37.54 28.06 25.43 22.40 22.26 33.50 34.44 28.63
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.66 21.14 23.70 22.69 16.87 15.86 15.19 14.61 19.91 21.49 17.55
Enterprise Value to Free Cash Flow (EV/FCFF)		 20.16 24.21 26.27 25.49 19.52 17.98 17.43 16.94 22.16 23.98 19.67
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.02 -0.24 -0.33 -0.43 -0.56 -0.66 -0.67 -0.60 -0.80 -0.91 -0.92
Leverage Ratio		 3.43 3.18 3.13 2.88 2.64 2.71 2.92 3.73 3.27 3.17 3.38
Compound Leverage Factor		 3.43 3.25 3.25 3.03 2.82 2.88 3.09 3.76 3.30 3.25 3.50
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 5.15 6.03 7.68 7.76 6.37 6.02 5.21 4.39 6.70 7.26 6.48
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.53 0.64 0.78 0.88 0.99 0.93 0.73 0.43 0.57 0.74 0.85
Quick Ratio		 0.46 0.59 0.72 0.82 0.93 0.87 0.66 0.35 0.51 0.67 0.78
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 155 170 245 238 242 267 222 218 327 326 325
Operating Cash Flow to CapEx		 1,314.32% 1,566.14% 2,777.46% 904.34% 1,414.78% 2,494.65% 1,259.12% 2,429.67% 2,298.23% 4,247.18% 2,227.59%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.27 1.25 1.23 1.22 1.16 1.12 1.17 1.28 1.23 1.24 1.33
Accounts Receivable Turnover		 6.58 6.84 7.31 7.05 6.85 7.09 7.47 6.57 6.89 7.24 7.73
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 16.23 16.37 16.89 17.12 17.34 17.27 17.47 17.31 18.34 19.87 20.22
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 55.51 53.40 49.92 51.80 53.25 51.47 48.86 55.53 52.97 50.38 47.21
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 55.51 53.40 49.92 51.80 53.25 51.47 48.86 55.53 52.97 50.38 47.21
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 376 314 265 253 225 156 152 126 8.29 -38 -54
Invested Capital Turnover		 4.27 5.23 5.77 6.16 6.90 8.98 10.35 11.79 20.26 42.84 54.77
Increase / (Decrease) in Invested Capital		 -83 -95 -151 -154 -151 -157 -112 -127 -216 -194 -207
Enterprise Value (EV)		 7,305 9,160 11,994 12,250 9,691 9,657 8,841 8,975 14,159 15,324 12,976
Market Capitalization		 7,400 9,405 12,401 12,761 10,348 10,326 9,283 9,021 14,444 15,821 13,628
Book Value per Share		 $15.41 $18.22 $21.77 $24.65 $28.43 $26.56 $19.48 $6.00 $10.45 $16.30 $21.08
Tangible Book Value per Share		 ($7.45) ($4.54) ($0.85) $2.13 $5.95 $4.14 ($3.38) ($18.23) ($14.32) ($8.40) ($3.43)
Total Capital		 471 559 672 764 881 826 594 172 294 459 598
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -95 -245 -407 -511 -657 -669 -441 -46 -285 -497 -653
Capital Expenditures (CapEx)		 8.70 9.99 5.50 13 11 7.64 9.99 6.11 11 4.54 6.81
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -495 -577 -619 -631 -666 -745 -742 -746 -832 -851 -859
Debt-free Net Working Capital (DFNWC)		 -400 -331 -212 -121 -8.76 -75 -301 -700 -547 -354 -206
Net Working Capital (NWC)		 -400 -331 -212 -121 -8.76 -75 -301 -700 -547 -354 -206
Net Nonoperating Expense (NNE)		 1.45 -2.92 -7.93 -4.26 -5.28 -7.43 -4.51 1.30 -0.80 -3.07 -5.11
Net Nonoperating Obligations (NNO)		 -95 -245 -407 -511 -657 -669 -441 -46 -285 -497 -653
Total Depreciation and Amortization (D&A)		 6.88 6.97 6.99 7.24 25 13 6.93 7.01 7.05 7.13 6.91
Debt-free, Cash-free Net Working Capital to Revenue		 -27.78% -30.58% -31.52% -31.11% -32.14% -35.31% -34.42% -33.42% -35.28% -33.64% -32.06%
Debt-free Net Working Capital to Revenue		 -22.43% -17.57% -10.79% -5.94% -0.42% -3.57% -13.95% -31.35% -23.18% -14.00% -7.69%
Net Working Capital to Revenue		 -22.43% -17.57% -10.79% -5.94% -0.42% -3.57% -13.95% -31.35% -23.18% -14.00% -7.69%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.30 $2.55 $3.32 $2.85 $3.11 $3.78 $3.77 $3.16 $3.95 $4.76 $4.35
Adjusted Weighted Average Basic Shares Outstanding		 30.63M 30.72M 30.84M 30.99M 31.05M 30.96M 30.39M 28.60M 28.14M 28.85M 28.45M
Adjusted Diluted Earnings per Share		 $2.22 $2.46 $3.20 $2.75 $3.01 $3.67 $3.67 $3.10 $3.86 $4.65 $4.28
Adjusted Weighted Average Diluted Shares Outstanding		 31.76M 31.84M 32.00M 32.09M 32.09M 32.01M 31.20M 29.14M 28.82M 29.53M 28.96M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 61.37M 61.52M 30.98M 31.00M 31.08M 30.47M 28.74M 28.09M 28.17M 28.38M 28.56M
Normalized Net Operating Profit after Tax (NOPAT)		 72 75 95 84 91 110 110 92 110 132 119
Normalized NOPAT Margin		 14.62% 15.12% 18.52% 15.92% 17.09% 20.42% 19.71% 15.18% 16.72% 18.64% 16.81%
Pre Tax Income Margin		 16.89% 18.20% 22.07% 20.92% 22.27% 24.95% 21.16% 20.64% 21.65% 22.14% 20.89%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 69.99% 50.92% 7.64% 0.00% 0.00% 42.01% 130.11% 258.83% 251.09% 203.36% 118.48%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for Medpace Holdings, Inc. (MEDP) based on the last four years of quarterly results. The focus is on revenue, profitability, cash flow, and balance-sheet dynamics that may be relevant to retail investors.

  • Revenue and earnings growth trend: Total revenue rose meaningfully from about $394.1 million in Q4 2022 to $708.5 million in Q4 2025, reflecting sustained top-line growth. Net income improved from roughly $68.7 million in Q4 2022 to $135.1 million in Q4 2025, with margins historically around 19–21% in recent periods.
  • Strong quarterly operating cash flow and healthy cash conversion: Net cash from continuing operating activities generally ran in the mid-to-high hundreds of millions across 2025 quarters (e.g., ~125.8M in Q1 2025, ~192.7M in Q4 2025), indicating solid cash generation. Free-cash-flow after modest capital expenditures (PPE) remained positive in these periods.
  • Earnings per share growth: Diluted earnings per share climbed to about $4.65 in Q4 2025 (Basic ~ $4.76) from roughly $3.67 (and $3.78 basic) in Q4 2024, signaling improved profitability on a per-share basis.
  • Capital allocation to shareholders: The company executed sizable stock repurchases in multiple periods (notably Q2 2025 and Q4 2024), suggesting a willingness to return cash to shareholders when appropriate.
  • Improving SG&A efficiency as a percentage of revenue: SG&A expense as a percentage of revenue declined over time (e.g., around 8–9% in 2024 quarters, dropping to roughly 6% by Q4 2025), indicating better cost control relative to top-line growth.
  • Working capital dynamics: In several periods, current liabilities significantly exceeded current assets, indicating negative working capital. This is a liquidity pattern to monitor, even with strong operating cash flow in some quarters.
  • Significant non-cash items impacting reported income: Non-Cash Adjustments To Reconcile Net Income were notably large in some quarters (e.g., about $129.5 million in Q4 2025), which can affect cash-flow interpretation and margins in the near term.
  • Asset mix and balance-sheet structure: The balance sheet shows sizable goodwill and intangible assets (Goodwill around $662 million; Intangible assets in the low tens of millions to above $30–40 million range across periods), suggesting an asset-intensive base with potential impairment risk to monitor over time.
  • Leverage and capitalization concerns: Total liabilities around $1.46 billion versus total equity of about $293.6 million in 2025 Q3 imply a leveraged capital structure, which could magnify downside risk during tough periods.
  • Varied margin pressure from large operating-expense components: In certain quarters, other operating expenses (and related non-operating components) were very large relative to revenue (e.g., Q4 2025 Other Operating Expenses / (Income) around $503.1 million), which can compress margins in those periods and warrant closer scrutiny of expense drivers.
05/11/26 01:25 PM ETAI Generated. May Contain Errors.

Medpace Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Medpace's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Medpace's net income appears to be on an upward trend, with a most recent value of $451.12 million in 2025, falling from -$8.67 million in 2015. The previous period was $404.39 million in 2024. Find out what analysts predict for Medpace in the coming months.

Medpace's total operating income in 2025 was $534.94 million, based on the following breakdown:
  • Total Gross Profit: $2.53 billion
  • Total Operating Expenses: $2.00 billion

Over the last 10 years, Medpace's total revenue changed from $359.06 million in 2015 to $2.53 billion in 2025, a change of 604.7%.

Medpace's total liabilities were at $1.52 billion at the end of 2025, a 18.9% increase from 2024, and a 165.8% increase since 2015.

In the past 10 years, Medpace's cash and equivalents has ranged from $0.00 in 2018 to $669.44 million in 2024, and is currently $497.05 million as of their latest financial filing in 2025.

Over the last 10 years, Medpace's book value per share changed from 13.19 in 2015 to 16.30 in 2025, a change of 23.6%.


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Financial statements for NASDAQ:MEDP last updated on 4/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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