MEDP · Medpace Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $2.53B | $2.11B | $1.89B | $1.46B | $1.14B | $925.92M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $197.56M | $180.18M | $161.35M | $131.40M | $108.42M | $92.16M |
| Total Operating Expenses | $2.00B | $1.66B | $1.55B | $1.18B | $943.76M | $758.88M |
| D&A | $27.18M | $27.81M | $24.13M | $18.99M | $16.00M | $11.65M |
| Operating Income | $534.93M | $446.87M | $336.82M | $278.70M | $198.62M | $167.04M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $91.25M | $71.54M | $52.87M | $37.49M | $20.00M | $23.15M |
| Net Income | $451.12M | $404.39M | $282.81M | $245.37M | $181.85M | $145.38M |
| EPS - Basic | $15.64 | $13.06 | $9.20 | $7.57 | $5.06 | $4.07 |
| EPS - Diluted | $15.28 | $12.63 | $8.88 | $7.28 | $4.81 | $3.84 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $497.05M | $669.44M | $245.45M | $28.27M | $461.30M | $277.77M |
| Accounts Receivable | $402.08M | $296.44M | $298.40M | $253.40M | $186.43M | $160.96M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $28.14M | $32.53M | $31.87M | $33.07M | $25.68M | $26.55M |
| Current Assets | $989.62M | $1.03B | $593.83M | $333.96M | $690.91M | $473.65M |
| Total Assets | $1.98B | $2.10B | $1.66B | $1.35B | $1.66B | $1.00B |
| Current Liabilities | $1.34B | $1.10B | $925.13M | $803.47M | $557.22M | $263.12M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $1.52B | $1.28B | $1.10B | $966.11M | $707.01M | $405.92M |
| Stockholders' Equity | $459.07M | $825.54M | $558.95M | $386.39M | $952.93M | $598.86M |
| Retained Earnings | ($459.98M) | $8.17M | ($221.65M) | ($359.83M) | $234.98M | $115.23M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $713.22M | $608.82M | $433.37M | $388.05M | $263.33M | $258.68M |
| Investing Cash Flow | ($31.14M) | ($28.31M) | ($34.63M) | ($38.74M) | ($31.36M) | ($31.21M) |
| Financing Cash Flow | ($860.39M) | ($154.01M) | ($182.64M) | ($775.77M) | ($44.45M) | ($82.28M) |
| CapEx | $31.36M | $36.55M | $36.65M | $36.88M | $28.27M | $31.34M |
| Free Cash Flow | $681.87M | $572.27M | $396.73M | $351.17M | $235.06M | $227.34M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 21.1% | 21.2% | 17.9% | 19.1% | 17.4% | 18.0% |
| EBITDA margin | 22.2% | 22.5% | 19.1% | 20.4% | 18.8% | 19.3% |
| Net margin | 17.8% | 19.2% | 15.0% | 16.8% | 15.9% | 15.7% |
| Free cash flow margin | 26.9% | 27.1% | 21.0% | 24.1% | 20.6% | 24.6% |
| FCF / Net income | 1.51 | 1.42 | 1.40 | 1.43 | 1.29 | 1.56 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 7.8% | 8.5% | 8.6% | 9.0% | 9.5% | 10.0% |
| Effective tax rate | 16.8% | 15.0% | 15.8% | 13.3% | 9.9% | 13.7% |
| Return on assets | 22.8% | 19.2% | 17.1% | 18.1% | 11.0% | 14.5% |
| Return on equity | 98.3% | 49.0% | 50.6% | 63.5% | 19.1% | 24.3% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 0.74 | 0.93 | 0.64 | 0.42 | 1.24 | 1.80 |
| Quick ratio | 0.74 | 0.93 | 0.64 | 0.42 | 1.24 | 1.80 |
| Cash ratio | 0.37 | 0.61 | 0.27 | 0.04 | 0.83 | 1.06 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 4.30 | 2.54 | 2.96 | 3.50 | 1.74 | 1.68 |
| Liabilities / Assets | 0.77 | 0.61 | 0.66 | 0.71 | 0.43 | 0.40 |
| Efficiency | ||||||
| Asset turnover | 1.28 | 1.00 | 1.14 | 1.08 | 0.69 | 0.92 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 58d | 51d | 58d | 63d | 60d | 63d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 36.8x | 26.3x | 34.5x | 29.2x | 45.2x | 36.2x |
| P / B | 36.1x | 12.9x | 17.5x | 18.5x | 8.6x | 8.8x |
| P / S | 6.6x | 5.0x | 5.2x | 4.9x | 7.2x | 5.7x |
| EV / EBITDA | 28.6x | 21.0x | 26.4x | 23.9x | 36.1x | 27.8x |
| Growth | ||||||
| Revenue growth (YoY) | 20.0% | 11.8% | 29.2% | 27.8% | 23.4% | 7.5% |
| Revenue CAGR (3y) | 20.1% | 22.7% | 26.8% | 19.2% | 39.4% | 28.5% |
| Revenue CAGR (5y) | 22.3% | 19.6% | 34.9% | 27.3% | 22.1% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 19.7% | 32.7% | 20.9% | 40.3% | 18.9% | 31.3% |
| Net income growth (YoY) | 11.6% | 43.0% | 15.3% | 34.9% | 25.1% | 44.7% |
| EPS growth (YoY) | 21.0% | 42.2% | 22.0% | 51.4% | 25.3% | 43.8% |
| EPS CAGR (3y) | 28.0% | 38.0% | 32.2% | 39.7% | 34.7% | 57.7% |
| EPS CAGR (5y) | 31.8% | 36.5% | 35.1% | 49.3% | 67.0% | - |
| FCF growth (YoY) | 19.2% | 44.2% | 13.0% | 49.4% | 3.4% | 23.6% |
| FCF CAGR (5y) | 24.6% | 25.5% | 39.3% | 32.6% | 24.6% | - |
| Book value growth (YoY) | -44.4% | 47.7% | 44.7% | -59.5% | 59.1% | -17.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.53B totalReportable Segment$2.53B · 100.0%
Product / service
$2.53B totalOncology$747.59M · 29.5%
Metabolic$744.96M · 29.4%
Other$408.55M · 16.1%
Central Nervous System$254.84M · 10.1%
Cardiology$239.37M · 9.5%
Antiviral And Anti Infective$134.94M · 5.3%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.92
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Commercial Physical & Biological Research
Comparing Medpace Holdings against the 5 most active filers in the same SIC group.