MEDP Healthcare

Medpace Holdings, Inc.

$663.49+2.37%

Price as of close on Nov 3, 2026 · Financials updated Oct 10, 2026

Basics

Sector: Healthcare
Industry: Diagnostics & Research
Country: United States
Market cap: 18.5B USD
Enterprise value: 18.2B USD
Full-time employees: 6,500

Overall health

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.18 vs a peer median of 0.63) and less short-term liquidity (current ratio 0.73 vs a peer median of 2.59)higher risk: bigger price swings (beta 1.18 vs peers 0.63) and less liquidity (current ratio 0.73 vs peers 2.59)
About average: valuation

Ranks #319 of 1,157 healthcare companies (top 28%)

See how it ranks against its peers

Worth knowing

Share count shrinking. Shares outstanding down 10% from December 2022 to July 2026.
Medpace had 10% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $926M in 2020 to $2.5B in 2025.
Medpace's fiscal-year revenue rose in each of the five years to 2025, from $926M to $2.5B.
Profit is backed by cash. Free cash flow is 144% of reported profit.
Medpace's free cash flow is 144% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Wide margins. Operating margin 21% (12 months to Jun 2026) vs a peer median of 7.1%.Operating margin 21% vs peers 7.1%.
Medpace keeps 21% of revenue as operating profit, more than 83% of peers (median 7.1%).

StockQuotient Score

62/ 100

Oct 5 63 → Nov 4 62 (-1)

Valuation

Is the price right?

51/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Share count down 2.3%

Valuation also moves with the share price every day.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.7%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.79Sector median: 0.0148 · MAD: 0.0148

EBITDA yield3.4%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.16Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield3.8%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield2.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

74/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 3.9%

Why

Stronger than most peers on:

▲ Revenue growth
▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth18.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.28Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth18.5%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.50Sector median: 0.0584 · MAD: 0.0840

Revenue growth24.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.91Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

97/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ ROIC
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin21.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.14Sector median: 0.0706 · MAD: 0.1217

Return on assets23.9%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 2.47Sector median: 0.0166 · MAD: 0.0537

Return on invested capital605.8%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsOutlier capped at sector 5th/95th percentile33% base weight · Z-score 3.81Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin72.4%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity113.3%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.18

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.64Sector median: 0.6250 · MAD: 0.3380

Current ratio0.73×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score -1.29Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.33×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -0.54Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Medpace

Is Medpace getting weaker?: Its latest SEC filing (Jul 23, 2026) got stronger: share count down 2.3%. Its overall score is unchanged at 62/100 since Oct 28, 2026.
How is Medpace valued vs its peers?: Priced about in line with its peers. Valuation scores 51/100 against 1,393 healthcare peers.
Is Medpace growing?: Yes, faster than most of its peers. Growth scores 74/100 against 1,393 healthcare peers. Revenue growth 24.7% vs a peer median of 6.1% (stronger than 82% of peers).Revenue growth 24.7% vs peers 6.1% (stronger than 82% of peers).
How profitable is Medpace?: More profitable than most of its peers. Profitability scores 97/100 against 1,393 healthcare peers. Return on assets 23.9% vs a peer median of 1.7% (stronger than 95% of peers).Return on assets 23.9% vs peers 1.7% (stronger than 95% of peers).
How risky is Medpace?: Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 0.73× vs a peer median of 2.59× (weaker than 100% of peers).Current ratio 0.73× vs peers 2.59× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 23, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Share count down 2.3%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	2.7B USD	2.8B USD	+3.9%
Net income (12 months)	460.4M USD	491.5M USD	+6.8%
Operating margin	21.0%	21.0%	−0.0 pts
Free cash flow (12 months)	711.0M USD	706.7M USD	−0.6%
Cash	652.7M USD	502.7M USD	−23.0%
Shares outstanding	28.6M	27.9M	−2.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Diagnostics & Research · 26 companies

Valuations in Diagnostics & Research are within their usual range since Nov 2018.

53% of months since Nov 2018 were valued lower than now.
24% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +109% vs the whole market, against a usual +111%.

Nov 2018Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	17.4%	19.1%	17.9%	21.2%	21.1%	▼ 0.0 pts
Net margin	15.9%	16.8%	15.0%	19.2%	17.8%	▼ 1.3 pts
Return on assets (ROA)	11.0%	18.1%	17.1%	19.2%	22.8%	▲ 3.6 pts
Return on equity (ROE)	19.1%	63.5%	50.6%	49.0%	98.3%	▲ 49 pts
Free cash flow margin	20.6%	24.1%	21.0%	27.1%	26.9%	▼ 0.2 pts
Current ratio	1.24×	0.42×	0.64×	0.93×	0.74×	▼ 21%
Debt to equity	0.00×	0.13×	0.00×	—	—	—

MEDP price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.18 vs a peer median of 0.63) and less short-term liquidity (current ratio 0.73 vs a peer median of 2.59)higher risk: bigger price swings (beta 1.18 vs peers 0.63) and less liquidity (current ratio 0.73 vs peers 2.59)

About average: valuation

Ranks #319 of 1,157 healthcare companies (top 28%)

See how it ranks against its peers

Worth knowing

Share count shrinking. Shares outstanding down 10% from December 2022 to July 2026.

Medpace had 10% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $926M in 2020 to $2.5B in 2025.

Medpace's fiscal-year revenue rose in each of the five years to 2025, from $926M to $2.5B.

Profit is backed by cash. Free cash flow is 144% of reported profit.

Medpace's free cash flow is 144% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Wide margins. Operating margin 21% (12 months to Jun 2026) vs a peer median of 7.1%.Operating margin 21% vs peers 7.1%.

Medpace keeps 21% of revenue as operating profit, more than 83% of peers (median 7.1%).

Questions investors ask about Medpace

Is Medpace getting weaker?

Its latest SEC filing (Jul 23, 2026) got stronger: share count down 2.3%. Its overall score is unchanged at 62/100 since Oct 28, 2026.

How is Medpace valued vs its peers?

Priced about in line with its peers. Valuation scores 51/100 against 1,393 healthcare peers.

Is Medpace growing?

Yes, faster than most of its peers. Growth scores 74/100 against 1,393 healthcare peers. Revenue growth 24.7% vs a peer median of 6.1% (stronger than 82% of peers).Revenue growth 24.7% vs peers 6.1% (stronger than 82% of peers).

How profitable is Medpace?

More profitable than most of its peers. Profitability scores 97/100 against 1,393 healthcare peers. Return on assets 23.9% vs a peer median of 1.7% (stronger than 95% of peers).Return on assets 23.9% vs peers 1.7% (stronger than 95% of peers).

How risky is Medpace?

Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 0.73× vs a peer median of 2.59× (weaker than 100% of peers).Current ratio 0.73× vs peers 2.59× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

2.7B USD

2.8B USD

+3.9%

Net income (12 months)

460.4M USD

491.5M USD

+6.8%

Operating margin

21.0%

21.0%

−0.0 pts

Free cash flow (12 months)

711.0M USD

706.7M USD

−0.6%

Cash

652.7M USD

502.7M USD

−23.0%

Shares outstanding

28.6M

27.9M

−2.3%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

17.4%

19.1%

17.9%

21.2%

21.1%

▼ 0.0 pts

Net margin

15.9%

16.8%

15.0%

19.2%

17.8%

▼ 1.3 pts

Return on assets (ROA)

11.0%

18.1%

17.1%

19.2%

22.8%

▲ 3.6 pts

Return on equity (ROE)

19.1%

63.5%

50.6%

49.0%

98.3%

▲ 49 pts

Free cash flow margin

20.6%

24.1%

21.0%

27.1%

26.9%

▼ 0.2 pts

Current ratio

1.24×

0.42×

0.64×

0.93×

0.74×

▼ 21%

Debt to equity

0.00×

0.13×

0.00×

—