Medpace is a late-stage contract research organization that provides full-service drug-development and clinical trial services to small and midsize biotechnology, pharmaceutical, and medical device firms. It also offers ancillary services, including bioanalytical laboratory services and imaging capabilities.
It is a $17.1B healthcare company. Revenue grew 24.7% over the last year, and it keeps 18¢ of every dollar of sales as profit. It trades at 34.8× earnings — in the most expensive third of its own history.
- Website
- medpace.com
- Location
- Cincinnati, OH
- Employees
- 6 500
- Sector
- Healthcare
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong growth and quality; Valuation and Health lag behind.
Valuation34
- P/E vs own history69th pct · 5/25
- FCF yield4.1% · 12/25
- P/S6.1x · 12/25
- EV/EBITDA27.1x · 5/25
Growth80
- Revenue CAGR22.0% · 25/25
- Net income CAGR25.5% · 25/25
- EPS CAGR ~5Y31.7% · 25/25
- Fwd implied growth3.5% · 5/25
Profitability65
- ROICn/a · 0/25
- ROE110.2% · 25/25
- Net margin17.7% · 20/25
- Operating margin21.0% · 20/25
Health31
- Altman Zn/a · 0/25
- Current ratio0.73 · 6/25
- Interest coverage139.9x · 25/25
- Net cash / debtn/a · 0/25
Quality97
- Piotroski F7/9 · 22/25
- Beneish M-3.11 · 25/25
- FCF conversion144% · 25/25
- Margin stabilityσ 2.8% · 25/25
Moat57
- ROIC >12% years7/9 yrs · 20/25
- Median gross margin17.6% · 0/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 3.2% · 12/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$451M net income
- FY2021FinancialRevenue crossed $1B$1.14B for the year
- FY2019FinancialBecame debt-freecash now exceeds total debt
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2012AcquisitionThey acquired MediTech BV, a medical device consultancy based in the Netherlands
- 2010AcquisitionMedpace acquired the Minneapolis medical-device consultancy Symbios and Germany's Medical Consulting Dr
- 2007AcquisitionIt acquired the Czech Republic contract research organization Monax in 2007, followed by Switzerland-based…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Revenue growing 24.7% year over year
- Strong cash conversion — FCF is 25.4% of revenue
- Interest covered 139.9× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+24.7% YoY
- Profitable — makes more than it spends$492M TTM
- Profit growing — earnings are higher than last year+28.0% YoY
- Generates cash — cash left after running and investing$707M TTM
- Debt under control — could handle its obligationscurrent ratio 0.73
- Established company — not a micro-cap — lower blow-up risk$17.1B market cap
- Not printing shares — share count not ballooning — you keep your slice-21.7% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distresshealth score 31/100
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 34.8
Peer comparisonMedpace Holdings, Inc. vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| MEDP this company | $17.1B | 34.8 | +24.7% | 17.7% | Strained |
| LLY Eli Lilly & Co. | $1.0T | 41.6 | +49.6% | 33.5% | Solid |
| JNJ Johnson & Johnson | $630.9B | 29.9 | +8.1% | 21.5% | Mixed |
| ABBV Abbvie Inc. | $488.5B | 77.4 | +10.4% | 9.8% | Mixed |
| MRK Merck & Co., Inc. | $361.0B | 113.2 | +4.6% | 4.8% | Mixed |
| UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) | $340.7B | 24.1 | +6.5% | 3.1% | Mixed |
| NVS Novartis AG | $273.2B | 20.3 | +9.6% | 24.7% | Solid |
Head-to-head: MEDP vs LLY · MEDP vs JNJ · MEDP vs ABBV
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/MEDP
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of MEDP on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $612.05 · market cap $17.1B.