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Medpace Holdings, Inc.

MEDP Clue Score74
United States Fiscal year ends December CIK 0001668397
$612.05 +1.55% Close, 9 Oct 2026
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Price $612.05 +231.95% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue421.6Operating income52.5Net income13.4EPS, diluted0.37Fiscal year 2017Revenue436.2 +3.5%Operating income64.9Net income39.1 +191.4%EPS, diluted0.98 +164.9%Fiscal year 2018Revenue704.6 +61.5%Operating income101.0Net income73.2 +87.1%EPS, diluted1.97 +101.0%Fiscal year 2019Revenue861.0 +22.2%Operating income127.3Net income100.4 +37.2%EPS, diluted2.67 +35.5%Fiscal year 2020Revenue925.9 +7.5%Operating income167.0Net income145.4 +44.7%EPS, diluted3.84 +43.8%Fiscal year 2021Revenue1,142.4 +23.4%Operating income198.6Net income181.8 +25.1%EPS, diluted4.81 +25.3%Fiscal year 2022Revenue1,460.0 +27.8%Operating income278.7Net income245.4 +34.9%EPS, diluted7.28 +51.4%Fiscal year 2023Revenue1,885.8 +29.2%Operating income336.8Net income282.8 +15.3%EPS, diluted8.88 +22.0%Fiscal year 2024Revenue2,109.1 +11.8%Operating income446.9Net income404.4 +43.0%EPS, diluted12.63 +42.2%Fiscal year 2025Revenue2,530.2 +20.0%Operating income534.9Net income451.1 +11.6%EPS, diluted15.28 +21.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 421.6 436.2 704.6 861.0 925.9 1,142.4 1,460.0 1,885.8 2,109.1 2,530.2
Growth +3.5% +61.5% +22.2% +7.5% +23.4% +27.8% +29.2% +11.8% +20.0%
Operating income 52.5 64.9 101.0 127.3 167.0 198.6 278.7 336.8 446.9 534.9
Net income 13.4 39.1 73.2 100.4 145.4 181.8 245.4 282.8 404.4 451.1
Growth +191.4% +87.1% +37.2% +44.7% +25.1% +34.9% +15.3% +43.0% +11.6%
EPS, diluted 0.37 0.98 1.97 2.67 3.84 4.81 7.28 8.88 12.63 15.28
Growth +164.9% +101.0% +35.5% +43.8% +25.3% +51.4% +22.0% +42.2% +21.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin12.5%Net margin3.2%Free cash flow margin18.5%Fiscal year 2017Operating margin14.9%Net margin9.0%Free cash flow margin19.6%Fiscal year 2018Operating margin14.3%Net margin10.4%Free cash flow margin19.9%Fiscal year 2019Operating margin14.8%Net margin11.7%Free cash flow margin21.4%Fiscal year 2020Operating margin18.0%Net margin15.7%Free cash flow margin24.6%Fiscal year 2021Operating margin17.4%Net margin15.9%Free cash flow margin20.6%Fiscal year 2022Operating margin19.1%Net margin16.8%Free cash flow margin24.1%Fiscal year 2023Operating margin17.9%Net margin15.0%Free cash flow margin21.0%Fiscal year 2024Operating margin21.2%Net margin19.2%Free cash flow margin27.1%Fiscal year 2025Operating margin21.1%Net margin17.8%Free cash flow margin26.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 12.5% 14.9% 14.3% 14.8% 18.0% 17.4% 19.1% 17.9% 21.2% 21.1%
Net margin 3.2% 9.0% 10.4% 11.7% 15.7% 15.9% 16.8% 15.0% 19.2% 17.8%
Free cash flow margin 18.5% 19.6% 19.9% 21.4% 24.6% 20.6% 24.1% 21.0% 27.1% 26.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow91.7Capital expenditure−13.5Free cash flow78.2Buybacks0.0Fiscal year 2017Operating cash flow97.4Capital expenditure−11.7Free cash flow85.7 +9.5%Buybacks−155.6Fiscal year 2018Operating cash flow156.6Capital expenditure−16.0Free cash flow140.6 +64.1%Buybacks0.0Fiscal year 2019Operating cash flow201.9Capital expenditure−17.9Free cash flow184.0 +30.9%Buybacks0.0Fiscal year 2020Operating cash flow258.7Capital expenditure−31.3Free cash flow227.3 +23.6%Buybacks−98.3Fiscal year 2021Operating cash flow263.3Capital expenditure−28.3Free cash flow235.1 +3.4%Buybacks−62.1Fiscal year 2022Operating cash flow388.1Capital expenditure−36.9Free cash flow351.2 +49.4%Buybacks−847.8Fiscal year 2023Operating cash flow433.4Capital expenditure−36.6Free cash flow396.7 +13.0%Buybacks−144.0Fiscal year 2024Operating cash flow608.8Capital expenditure−36.5Free cash flow572.3 +44.2%Buybacks−169.9Fiscal year 2025Operating cash flow713.2Capital expenditure−31.4Free cash flow681.9 +19.2%Buybacks−917.4
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 91.7 97.4 156.6 201.9 258.7 263.3 388.1 433.4 608.8 713.2
Capital expenditure −13.5 −11.7 −16.0 −17.9 −31.3 −28.3 −36.9 −36.6 −36.5 −31.4
Free cash flow 78.2 85.7 140.6 184.0 227.3 235.1 351.2 396.7 572.3 681.9
Growth +9.5% +64.1% +30.9% +23.6% +3.4% +49.4% +13.0% +44.2% +19.2%
Buybacks 0.0 −155.6 0.0 0.0 −98.3 −62.1 −847.8 −144.0 −169.9 −917.4

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash37.1Total debt163.6Net cash (debt)−126.5Shareholders’ equity610.7Debt to equity0.27Fiscal year 2017Cash26.5Total debt221.6Net cash (debt)−195.1Shareholders’ equity509.3Debt to equity0.44Fiscal year 2018Cash23.3Total debt79.7Net cash (debt)−56.4Shareholders’ equity598.9Debt to equity0.13Fiscal year 2019Cash131.9Total debt0.0Net cash (debt)131.9Shareholders’ equity726.3Debt to equity0.00Fiscal year 2020Cash277.8Shareholders’ equity805.8Fiscal year 2021Cash461.3Shareholders’ equity952.9Fiscal year 2022Cash28.3Shareholders’ equity386.4Fiscal year 2023Cash245.4Shareholders’ equity559.0Fiscal year 2024Cash669.4Shareholders’ equity825.5Fiscal year 2025Cash497.0Shareholders’ equity459.1
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 37.1 26.5 23.3 131.9 277.8 461.3 28.3 245.4 669.4 497.0
Total debt 163.6 221.6 79.7 0.0 n/a n/a n/a n/a n/a n/a
Net cash (debt) −126.5 −195.1 −56.4 131.9 n/a n/a n/a n/a n/a n/a
Shareholders’ equity 610.7 509.3 598.9 726.3 805.8 952.9 386.4 559.0 825.5 459.1
Debt to equity 0.27 0.44 0.13 0.00 n/a n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
421.6 436.2 704.6 861.0 925.9 1,142.4 1,460.0 1,885.8 2,109.1 2,530.2
Growth +3.5% +61.5% +22.2% +7.5% +23.4% +27.8% +29.2% +11.8% +20.0%
61.5 63.4 75.7 95.2 92.2 108.4 131.4 161.4 180.2 197.6
52.5 64.9 101.0 127.3 167.0 198.6 278.7 336.8 446.9 534.9
Growth +23.6% +55.8% +25.9% +31.3% +18.9% +40.3% +20.9% +32.7% +19.7%
22.0 56.9 94.0 124.8 168.5 201.9 282.9 335.7 475.9 542.4
8.5 17.8 20.8 24.4 23.1 20.0 37.5 52.9 71.5 91.3
13.4 39.1 73.2 100.4 145.4 181.8 245.4 282.8 404.4 451.1
Growth +191.4% +87.1% +37.2% +44.7% +25.1% +34.9% +15.3% +43.0% +11.6%
Per share
0.38 1.00 2.05 2.79 4.07 5.06 7.57 9.20 13.06 15.64
0.37 0.98 1.97 2.67 3.84 4.81 7.28 8.88 12.63 15.28
Growth +164.9% +101.0% +35.5% +43.8% +25.3% +51.4% +22.0% +42.2% +21.0%
35.7 39.1 35.5 35.9 35.6 35.9 32.4 30.7 31.0 28.8
36.3 39.8 36.9 37.6 37.7 37.7 33.7 31.8 32.0 29.5
Growth +9.7% −7.3% +1.8% +0.4% −0.0% −10.7% −5.4% +0.5% −7.8%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 22.3% a year over five years, and earnings per share grew 31.8% a year.
  • The diluted share count fell 21.7% in five years, so buybacks did some of the work per share.
  • Operating margin is up 3.1 points on five years ago, at 21.1%.
  • Profitable in every one of the 10 years on file.