MEDP
Medpace Holdings, Inc.
Next earnings Jul 22, 2026 (after close) · consensus $4.05 EPS, $704M rev
Last earnings -1.3% on 2026-04-22
$557.60
▲ +4.28%$557.60▲ +79.47%
over 1Y
L $308.88H $620.59
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+4.3%
1W+7.2%
1M+25.1%
3M+11.9%
YTD-2.4%
1Y+79.5%
Buy
Conviction
Horizon
Long (>12mo)
Street · 20 analysts
Buy
Debt-free CRO compounding revenue +20% with 98.3% ROE and aggressive buybacks, at a reasonable 30x P/E.
Revenue $2.53B · FY2025
The read
Solid fundamentals at a roughly fair price — reasonable risk/reward at today's level.
Medpace is a high-quality compounder. FY2025 revenue grew 20.0% to $2.53B, extending a remarkably consistent ramp from $1.14B in FY2021 through $1.46B, $1.89B, $2.11B, and now $2.53B. Management attributes the $421.2 million increase to strong activity in Metabolic, Oncology and Central Nervous System therapeutic areas. Profitability is excellent: operating income of $535M (+19.7%), a 21.1% operating margin, net income of $451M (+11.6%), and diluted EPS of $15.28 (+21.0%). The CRO model converts to cash superbly, with operating cash flow of $713M (+17.1%) against just $31.4M of capex.
The balance sheet is pristine. The company carries no meaningful long-term debt and funds itself from operating cash flow and a small $10.0 million revolving facility. The eye-popping 98.3% ROE and the negative -$460M retained earnings are largely artifacts of aggressive capital return rather than distress: in FY2025 Medpace repurchased $917M of stock (2,961,924 shares for $912.9 million), shrinking the share count by 6.8% and leaving $821.7 million of authorization remaining. Buying back stock above the company's accumulated earnings drives equity down and ROE up, while liabilities/equity of 3.30x is inflated by the same dynamic plus growth in deferred revenue/current liabilities, not borrowings.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:45 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.14B | $1.46B | $1.89B | $2.11B | $2.53B |
| Gross profit | — | — | — | — | — |
| Operating income | $199M | $279M | $337M | $447M | $535M |
| Net income | $182M | $245M | $283M | $404M | $451M |
| Diluted EPS | $4.81 | $7.28 | $8.88 | $12.63 | $15.28 |
| Net margin | 15.9% | 16.8% | 15.0% | 19.2% | 17.8% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$15.4B
EV / EBITDA—
EV / Sales6.1
EV / FCF22.6
P / FCF23.4
PEG (trailing)3.16
Earnings yield2.8%
FCF yield4.3%
Quality & risk
ROIC (est.)92.1%
Free cash flow$682M
Total debt$0.00
Net cash$497M
Altman Z-Score7.93 safe
Piotroski F-Score7/8
Capital returns
Buyback yield5.8%
Dividend yield (est.)—
Shareholder yield5.8%
Shares Δ YoY-6.8%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗4Period ending 2026-06-302026-07-02open ↗4Period ending 2026-06-302026-07-02open ↗4Period ending 2026-06-302026-07-02open ↗3Period ending 2026-06-012026-06-04open ↗8-KPeriod ending 2026-06-012026-06-04open ↗4Period ending 2026-05-282026-06-01open ↗144Filing2026-05-28open ↗8-KPeriod ending 2026-05-152026-05-19open ↗4Period ending 2026-05-152026-05-18open ↗4Period ending 2026-05-152026-05-18open ↗4Period ending 2026-05-152026-05-18open ↗4Period ending 2026-05-152026-05-18open ↗
Frequently asked
- Is Medpace Holdings, Inc. (MEDP) a buy?
- MEDP currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. Debt-free CRO compounding revenue +20% with 98.3% ROE and aggressive buybacks, at a reasonable 30x P/E.
- What is MEDP's fair value?
- A Modified-Graham model based on MEDP's SEC fundamentals estimates a fair value of about $486.27. It is an estimate from reported earnings, not a price target.
- Is MEDP overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, MEDP currently appears fairly valued relative to its SEC-grounded earnings power.
- What is Medpace Holdings, Inc.'s quality score?
- MEDP scores 72.3533365909762/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001668397, latest 10-Q filed 2026-04-23) · EODHD · Proprietary analysis · as of 6/21/2026, 8:45:38 PM.
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