Medpace Holdings, Inc. (MEDP)
Medpace Holdings, Inc., founded in Cincinnati, Ohio, in 1992, functions as a contract research organization (CRO) delivering clinical development and research services. The company assists pharmaceutical, biotechnology, and medical device clients throughout North America, Europe, and Asia. Its comprehensive suite of offerings covers the entire product lifecycle, from initial Phase I trials through to Phase IV post-market surveillance. Medpace's services include designing development programs, coordinating central laboratory functions, managing projects, navigating regulatory processes, overseeing clinical trials, handling data management and analytics, ensuring pharmacovigilance, aiding with new drug application submissions, and providing ongoing post-marketing clinical support. Furthermore, the company offers specialized bio-analytical laboratory testing, conducts clinical human pharmacology studies, provides imaging services, and delivers expert electrocardiography (ECG) reading for clinical research.
Sector: Services-Commercial Physical & Biological Research
Industry: Medical - Diagnostics & Research
Medpace Holdings, Inc.
NASDAQ:MEDPHealthcare · Medical - Diagnostics & Research
+2.33%$669.20
AH Close$669.20+0.00%vs close
AH Close$669.20+0.00%vs close
Mkt Cap$18.72B
Float22.5M
O/S27.97M
Inst Own87.8%
SI7.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$2.53B
Net Income$451.12M
Total Assets$1.98B
Free Cash Flow$681.87M
Debt & Equity
Debt 23%
Equity 77%
Total Debt$136.85M
Total Equity$459.07M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in MEDP's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.98B
Liabilities$1.52B
Accounts Receivable$402.08M
Accounts Payable$28.14M
Inventory$0
PP&E (Net)$248.87M
Goodwill$662.4M
Intangible Assets$33.42M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 |
| Revenue | $2.53B | $2.11B | $1.89B | $1.46B | $1.14B | $925.92M | $860.97M | $704.59M | $436.15M | $421.58M | $359.06M | $290.04M | $272.89M |
| YoY Growth | 20.0% | 11.8% | 29.2% | 27.8% | 23.4% | 7.5% | 22.2% | 61.5% | 3.5% | 17.4% | 23.8% | 6.3% | - |
| Cost of Revenue | $1.77B | $1.45B | $1.36B | $1.03B | $814.22M | $647.2M | $615.27M | $489.06M | $261.46M | $249.47M | $202.66M | $156.31M | $148.4M |
| Gross Profit | $760.62M | $656.3M | $524.5M | $432.44M | $328.15M | $278.73M | $245.7M | $215.53M | $174.69M | $172.11M | $156.39M | $133.73M | $124.49M |
| Gross Margin | 30.1% | 31.1% | 27.8% | 29.6% | 28.7% | 30.1% | 28.5% | 30.6% | 40.1% | 40.8% | 43.6% | 46.1% | 45.6% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $197.56M | $180.18M | $161.35M | $131.4M | $108.42M | $92.16M | $95.25M | $75.68M | $63.36M | $61.51M | $57M | $39.67M | $35.11M |
| Other | $28.12M | $29.25M | $26.33M | $22.34M | $21.12M | $19.53M | $23.19M | $38.8M | $46.47M | $58.11M | $78.83M | $0 | $30.52M |
| Total Operating Expenses | $225.68M | $209.44M | $187.68M | $153.74M | $129.54M | $111.68M | $118.43M | $114.48M | $109.83M | $119.62M | $135.83M | $128.54M | $65.63M |
| Operating Income (EBIT) | $534.93M | $446.87M | $336.82M | $278.7M | $198.62M | $167.04M | $127.26M | $101.05M | $64.86M | $52.49M | $20.56M | $26M | $58.86M |
| Operating Margin | 21.1% | 21.2% | 17.9% | 19.1% | 17.4% | 18.0% | 14.8% | 14.3% | 14.9% | 12.5% | 5.7% | 9.0% | 21.6% |
| Interest Expense | $0 | $0 | $488K | $2.9M | $105K | $0 | $1.57M | $8.16M | $7.56M | $19.38M | $27.26M | $26.46M | $18M |
| Interest Income | $0 | $25M | $0 | $0 | $0 | $307K | $0 | $0 | $0 | $0 | $0 | $26.46M | $0 |
| Other Income (Expense) | $7.44M | $29.05M | -$1.14M | $4.16M | $3.24M | $1.49M | -$2.43M | -$7.1M | -$7.91M | -$30.53M | -$28.39M | -$47.26M | -$19.72M |
| Income Before Tax (EBT) | $542.38M | $475.92M | $335.68M | $282.86M | $201.85M | $168.53M | $124.83M | $93.95M | $56.95M | $21.96M | -$7.83M | -$21.26M | $39.15M |
| Income Tax Expense | $91.25M | $71.54M | $52.87M | $37.49M | $20M | $23.15M | $24.39M | $20.77M | $17.82M | $8.53M | $843K | -$5.69M | $14.3M |
| Net Income | $451.12M | $404.39M | $282.81M | $245.37M | $181.85M | $145.38M | $100.44M | $73.19M | $39.12M | $13.43M | -$8.67M | -$15.57M | $24.84M |
| Net Income Margin | 17.8% | 19.2% | 15.0% | 16.8% | 15.9% | 15.7% | 11.7% | 10.4% | 9.0% | 3.2% | -2.4% | -5.4% | 9.1% |
| Supplementary Data | |||||||||||||
| EPS | 15.64 | 13.06 | 9.20 | 7.57 | 5.06 | 4.07 | 2.79 | 2.05 | 1.00 | 0.38 | -0.28 | -0.53 | 1.33 |
| Diluted EPS | 15.28 | 12.63 | 8.88 | 7.28 | 4.81 | 3.84 | 2.67 | 1.97 | 0.98 | 0.37 | -0.28 | -0.53 | 1.28 |
| Weighted Average OS | 28.85M | 30.96M | 30.72M | 32.39M | 35.86M | 35.63M | 35.88M | 35.55M | 39.06M | 35.69M | 39.63M | 29.43M | 38.35M |
| EBITDA | $570.5M | $505.17M | $362.5M | $308.11M | $223.08M | $186.57M | $150.45M | $139.85M | $110.98M | $99.45M | $88.95M | $94.06M | $87.66M |
| EBITDA Margin | 22.5% | 24.0% | 19.2% | 21.1% | 19.5% | 20.1% | 17.5% | 19.8% | 25.4% | 23.6% | 24.8% | 32.4% | 32.1% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Assets | ||||||||||||
| Current Assets | ||||||||||||
| Cash and Cash Equivalents | $497.05M | $669.44M | $245.45M | $28.27M | $461.3M | $277.77M | $131.92M | $23.27M | $26.48M | $37.1M | $14.88M | $54.28M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $497.05M | $669.44M | $245.45M | $28.27M | $461.3M | $277.77M | $131.92M | $23.27M | $26.48M | $37.1M | $14.88M | $54.28M |
| Accounts Receivable | $402.08M | $296.44M | $298.4M | $253.4M | $186.43M | $160.96M | $155.66M | $133.45M | $83.08M | $79.77M | $65.09M | $65.25M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $7K | $7K | $308K | $2.86M | $1.1M |
| Other Current Assets | $90.5M | $63.35M | $49.98M | $52.29M | $0 | $0 | $0 | $7K | $7K | $308K | $2.86M | $1.1M |
| Total Current Assets | $989.62M | $1.03B | $593.83M | $333.96M | $690.91M | $473.65M | $317.03M | $178.11M | $129.97M | $133.25M | $94.72M | $133.32M |
| Long-Term Assets | ||||||||||||
| Property, Plant & Equipment Net | $248.87M | $252.26M | $265.39M | $248.92M | $222.71M | $198.83M | $99.44M | $52.26M | $48.74M | $43.8M | $37.51M | $38.08M |
| Goodwill | $662.4M | $662.4M | $662.4M | $662.4M | $662.4M | $662.4M | $662.4M | $660.98M | $660.98M | $660.98M | $660.98M | $670.29M |
| Intangible Assets | $33.42M | $34.37M | $35.81M | $38.01M | $41.36M | $46.47M | $54.35M | $69.18M | $98.74M | $136.07M | $186.74M | $249.88M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $19.22M | $100.36M | $74.44M | $48.08M | $25.13M | $536K | $376K | $713K | $6.34M | $97K | $157K | $138K |
| Other Long-Term Assets | $21.94M | $22.25M | $24.97M | $21.13M | $17.42M | $8.79M | $9.48M | $6.69M | $5.94M | $4.9M | $3.93M | $5.19M |
| Total Long-Term Assets | $985.85M | $1.07B | $1.06B | $1.02B | $969.02M | $917.03M | $826.04M | $789.82M | $820.75M | $845.86M | $889.32M | $963.59M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $1.98B | $2.1B | $1.66B | $1.35B | $1.66B | $1.39B | $1.14B | $967.93M | $950.72M | $979.11M | $984.04M | $1.1B |
| Liabilities | ||||||||||||
| Current Liabilities | ||||||||||||
| Accounts Payable | $28.14M | $32.53M | $31.87M | $33.07M | $25.68M | $26.55M | $22.4M | $16.74M | $16.67M | $10.91M | $8.73M | $6.25M |
| Short-Term Debt | $0 | $0 | $0 | $50M | $0 | $0 | $0 | $0 | $16.5M | $12.38M | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $854.39M | $710.59M | $559.86M | $462.73M | $344.64M | $255.66M | $192.36M | $147.94M | $73.76M | $65.67M | $51.05M | $58.14M |
| Other Current Liabilities | $29.63M | $30.34M | $18.08M | $15.78M | $11.34M | $7.64M | $8.01M | $2.76M | $60.2M | $55.23M | $50.77M | $47.64M |
| Total Current Liabilities | $1.34B | $1.1B | $925.13M | $803.47M | $557.22M | $440.11M | $343M | $257.03M | $192.71M | $168.6M | $134.02M | $133.64M |
| Long-Term Liabilities | ||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $79.72M | $205.11M | $151.27M | $377.88M | $491.52M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $1.35M | $1.8M | $2.4M | $1.07M | $1.08M | $13.55M | $12.85M | $439K | $560K | $12.03M | $21.1M | $33.77M |
| Other Long-Term Liabilities | $57.66M | $42.73M | $28.22M | $22.7M | $17.75M | $16.09M | $15.72M | $41.04M | $48.81M | $36.49M | $37.56M | $36.02M |
| Total Long-Term Liabilities | $172.65M | $170.77M | $172.75M | $162.64M | $149.79M | $144.79M | $73.79M | $121.2M | $254.48M | $199.79M | $436.55M | $561.3M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.52B | $1.28B | $1.1B | $966.11M | $707.01M | $584.9M | $416.79M | $378.23M | $447.19M | $368.39M | $570.57M | $694.94M |
| Stockholders' Equity | ||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $284K | $306K | $308K | $309K | $360K | $355K | $360K | $356K | $355K | $407K | $326K | $313K |
| Retained Earnings | -$459.98M | $8.17M | -$221.65M | -$359.83M | $234.98M | $115.23M | $68.11M | -$41.49M | -$120.4M | -$9.58M | -$23.01M | -$14.34M |
| Comprehensive Income & Other | -$4.91M | -$14.74M | -$10.07M | -$12.39M | -$4.85M | -$131K | -$2.74M | -$2.52M | -$734K | -$3.74M | -$2.56M | -$1.56M |
| Other Stockholders' Equity | $918.77M | $817.07M | $780.29M | $745.9M | $717.58M | $690.2M | $657.81M | $630.83M | $623.58M | $619.89M | $436.16M | $415.99M |
| Total Equity | $459.07M | $825.54M | $558.95M | $386.39M | $952.93M | $805.78M | $726.28M | $589.7M | $503.53M | $610.71M | $413.47M | $401.97M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $1.98B | $2.1B | $1.66B | $1.35B | $1.66B | $1.39B | $1.14B | $967.93M | $950.72M | $979.11M | $984.04M | $1.1B |
| Supplementary Data | ||||||||||||
| Total Debt | $136.85M | $149.52M | $164.49M | $208.14M | $147.24M | $131.03M | $56.19M | $81.82M | $223.51M | $163.64M | $379.54M | $491.52M |
| Net Debt | -$360.2M | -$519.91M | -$80.96M | $179.87M | -$314.06M | -$146.73M | -$75.73M | $58.55M | $197.03M | $126.54M | $364.66M | $437.23M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 |
| Operating Activities | |||||||||||||
| Net Income | $451.12M | $404.39M | $282.81M | $245.37M | $181.85M | $145.38M | $100.44M | $73.19M | $39.12M | $13.43M | -$8.67M | -$15.57M | $24.84M |
| Depreciation & Amortization | $28.12M | $29.25M | $26.33M | $22.34M | $21.12M | $19.53M | $23.19M | $38.8M | $46.47M | $58.11M | $69.52M | $68.06M | $30.52M |
| Deferred Income Tax | $80.77M | -$26.63M | -$25.12M | -$23.01M | -$37.11M | $527K | $10.05M | $3.94M | $3.24M | -$9.01M | -$12.69M | $0 | $5.98M |
| Stock-Based Compensation | $34.79M | $25.51M | $20.52M | $21.41M | $14.47M | $13.78M | $20.74M | $6.5M | $4.46M | $9.81M | $22.32M | $12.76M | $1.96M |
| Changes in Working Capital: | |||||||||||||
| Accounts Receivable | -$106.22M | $2.24M | -$48.28M | -$66.92M | -$24.98M | -$5.53M | -$21.26M | -$27.05M | -$2.9M | -$13.73M | $337K | -$11.65M | $1.6M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $2.63M | -$2.96M | $1.05M | $6.43M | $1.87M | -$2.6M | $4.73M | $1.34M | $4.82M | $691K | $2.48M | $0 | $628K |
| Other Working Capital | $199.86M | $157.9M | $153.72M | $166.54M | $89.82M | $74.38M | $52.11M | $65.31M | $10.96M | $20.14M | $812K | $2.77M | $26.71M |
| Total Working Capital Change | $96.28M | $157.18M | $106.49M | $106.06M | $66.71M | $66.26M | $35.59M | $39.6M | $12.88M | $7.1M | $3.63M | -$8.88M | $28.94M |
| Other Non-Cash Items | $22.14M | $19.11M | $22.35M | $15.89M | $16.3M | $13.2M | $11.86M | -$5.44M | -$8.79M | $12.28M | $11.76M | $18.82M | $5.9M |
| Net Cash from Operating | $713.22M | $608.82M | $433.37M | $388.05M | $263.33M | $258.68M | $201.87M | $156.58M | $97.39M | $91.73M | $85.87M | $75.2M | $98.14M |
| Investing Activities | |||||||||||||
| Capital Expenditures | -$31.36M | -$36.55M | -$36.65M | -$36.88M | -$28.27M | -$31.34M | -$17.91M | -$16.02M | -$11.72M | -$13.54M | -$6.46M | -$5.32M | -$4.56M |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$901.8M | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $216K | $8.24M | $2.02M | -$1.86M | -$3.09M | $126K | -$1.23M | -$949K | -$513K | $115K | $33K | $301K | $89K |
| Net Cash from Investing | -$31.14M | -$28.31M | -$34.63M | -$38.74M | -$31.36M | -$31.21M | -$19.14M | -$16.97M | -$12.24M | -$13.42M | -$6.43M | -$908.47M | -$4.47M |
| Financing Activities | |||||||||||||
| Debt Repaid | - | - | - | - | - | - | $80.44M | $142.19M | -$57.63M | $226.1M | $116.06M | -$462.12M | $96.43M |
| Common Stock Issuance | $57M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $173.58M | $608K | $414M | $1.18M |
| Common Stock Repurchases | -$917.39M | -$169.87M | -$144.02M | -$847.85M | -$62.1M | -$98.27M | $0 | $0 | -$155.58M | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $15.86M | $11.38M | $22.07M | $17.64M | $15.99M | $6.52M | $608K | $130K | -$5.48M | -$1.04M | $6.08M | -$597K |
| Net Cash from Financing | -$860.39M | -$154.01M | -$182.64M | -$775.77M | -$44.45M | -$82.28M | -$73.92M | -$141.58M | -$97.83M | -$58.01M | -$116.49M | $882.2M | -$95.85M |
| Forex Effect | $5.92M | -$2.51M | $1.08M | -$6.57M | -$3.97M | $666K | -$167K | -$1.24M | $1.76M | -$632K | -$601K | $6.45M | $159K |
| Net Change in Cash | -$172.39M | $423.99M | $217.18M | -$433.04M | $183.54M | $145.85M | $108.64M | -$3.21M | -$10.91M | $19.67M | -$37.65M | $55.39M | -$2.02M |
| Supplementary Data | |||||||||||||
| Operating Cash Flow | $713.22M | $608.82M | $433.37M | $388.05M | $263.33M | $258.68M | $201.87M | $156.58M | $97.39M | $91.73M | $85.87M | $75.2M | $98.14M |
| Capital Expenditure | -$31.36M | -$36.55M | -$36.65M | -$36.88M | -$28.27M | -$31.34M | -$17.91M | -$16.02M | -$12.29M | -$13.54M | -$6.46M | -$5.32M | -$4.56M |
| Free Cash Flow | $681.87M | $572.27M | $396.73M | $351.17M | $235.06M | $227.34M | $183.96M | $140.56M | $85.09M | $78.19M | $79.41M | $69.89M | $93.58M |
| Cash at Beginning | $669.44M | $245.45M | $28.27M | $461.3M | $277.77M | $131.92M | $23.28M | $26.49M | $37.41M | $17.74M | $55.39M | $0 | $25.88M |
| Cash at End | $497.05M | $669.44M | $245.45M | $28.27M | $461.3M | $277.77M | $131.92M | $23.28M | $26.49M | $37.41M | $17.74M | $55.39M | $23.86M |