MEDPNasdaqServices-Commercial Physical & Biological ResearchFiscal year ends December 31
Medpace Holdings, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 23, 2026
$619.66+1.19 (+0.19%)
Close on Oct 19, 2026
- Market cap
- $17.69B
- P/E (TTM)
- 36.3
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2014 to 2025
Operating margin
21.1%+3.1 pts over 5 years
Net margin
17.8%+2.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +20.0% | +20.1% | +22.3% | +21.6% | |
| Operating income | +19.7% | +24.3% | +26.2% | +38.5% | |
| Net income | +11.6% | +22.5% | +25.4% | – | |
| EPS, diluted | +21.0% | +28.0% | +31.8% | – | |
| Free cash flow | +19.2% | +24.8% | +24.6% | +24.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 2.6% | 19.0% | 70.2% | |
| Return on assets | 1.4% | 11.5% | 22.1% | |
| Current ratio | 0.79 | 1.08 | 0.74 | |
| Debt to equity | 0.27 | – | – | |
| Capex to revenue | 3.2% | 3.4% | 1.2% | |
| Diluted shares | 36M | 38M | 30M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Medpace generated $2.41B from operations and spent $2.31B on capital expenditure, dividends and share buybacks. 7% of that went back into the business.
Generated
$2.41B
Used
$2.31B
Capital expenditure$169.70M7%Dividends$00%Share buybacks$2.14B93%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin17.8%
×Asset turnover1.24×
×Equity multiplier3.17×
=Return on equity, FY202570.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 17.8% | 1.24× | 3.17× | 70.2% |
| FY2024 | 19.2% | 1.12× | 2.71× | 58.4% |
| FY2023 | 15.0% | 1.25× | 3.18× | 59.8% |
| FY2022 | 16.8% | 0.97× | 2.25× | 36.6% |
| FY2021 | 15.9% | 0.75× | 1.73× | 20.7% |
| FY2020 | 15.7% | 0.73× | 1.65× | 19.0% |
| FY2019 | 11.7% | 0.80× | 1.62× | 15.2% |
| FY2018 | 10.4% | 0.72× | 1.76× | 13.2% |
| FY2017 | 9.0% | 0.45× | 1.72× | 7.0% |
| FY2016 | 3.2% | 0.43× | 1.92× | 2.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$451.12M
- Cash generatingOperating cash flow above zero$713.22M
- Return on assets improvedROA up on the prior year24.4% → 21.5%
- Earnings backed by cashOperating cash flow above net income$713.22M vs $451.12M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose0.93 → 0.74
- No dilutionShare count did not rise32M → 30M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.27 → 1.20