Medpace Holdings Financials
This page shows Medpace Holdings (MEDP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Medpace Holdings has an operating margin of 1005516.9%, meaning the company retains $1005517 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 21.2% the prior year.
Medpace Holdings's revenue declined 100% year-over-year, from $2.1B to $53. This contraction results in a growth score of 0/100.
Medpace Holdings has elevated debt relative to equity (D/E of 3.30), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Medpace Holdings's current ratio of 0.74 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 9/100, which could limit financial flexibility.
Medpace Holdings converts 1281704.9% of revenue into free cash flow ($682K). This strong cash generation earns a score of 100/100.
Medpace Holdings earns a strong 98.3% return on equity (ROE), meaning it generates $98 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 49.0% the prior year.
Medpace Holdings scores 4807.66, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($12.1B) relative to total liabilities ($1.5M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Medpace Holdings passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Medpace Holdings generates $1.58 in operating cash flow ($713K OCF vs $451K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Medpace Holdings generated $53 in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Medpace Holdings's EBITDA was $563K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 99.9% from the prior year.
Medpace Holdings generated $682K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 99.9% from the prior year.
Medpace Holdings reported $451K in net income in fiscal year 2025. This represents a decrease of 99.9% from the prior year.
Medpace Holdings earned $15.28 per diluted share (EPS) in fiscal year 2025. This represents an increase of 21.0% from the prior year.
Medpace Holdings held $497K in cash against $0 in long-term debt as of fiscal year 2025.
Medpace Holdings had 28M shares outstanding in fiscal year 2025. This represents a decrease of 6.8% from the prior year.
Medpace Holdings's operating margin was 1005516.9% in fiscal year 2025, reflecting core business profitability. This is up 1005495.7 percentage points from the prior year.
Medpace Holdings's net profit margin was 847975.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 847956.4 percentage points from the prior year.
Medpace Holdings's ROE was 98.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 49.3 percentage points from the prior year.
Medpace Holdings spent $917K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 99.5% from the prior year.
Medpace Holdings invested $31K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 99.9% from the prior year.
MEDP Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $708.5M+7.4% | $659.9M+9.4% | $603.3M+8.0% | $558.6M+4.1% | $536.6M+0.6% | $533.3M+1.0% | $528.1M+3.3% | $511.0M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $44.9M-6.6% | $48.1M+3.0% | $46.7M-19.4% | $57.9M+27.4% | $45.4M-7.7% | $49.2M+18.7% | $41.5M-6.0% | $44.1M |
| Operating Income | $153.3M+8.1% | $141.8M+12.2% | $126.3M+11.3% | $113.5M-9.5% | $125.4M+11.7% | $112.3M+6.8% | $105.2M+1.0% | $104.1M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $21.7M-31.5% | $31.7M-7.5% | $34.3M+858.8% | $3.6M-78.8% | $16.9M-24.5% | $22.4M+1.0% | $22.1M+117.2% | $10.2M |
| Net Income | $135.1M+21.6% | $111.1M+23.1% | $90.3M-21.2% | $114.6M-2.1% | $117.0M+21.4% | $96.4M+9.1% | $88.4M-13.9% | $102.6M |
| EPS (Diluted) | $4.65+20.5% | $3.86+24.5% | $3.10-15.5% | $3.670.0% | $3.67+21.9% | $3.01+9.5% | $2.75-14.1% | $3.20 |
MEDP Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.0B+12.7% | $1.8B+11.5% | $1.6B-17.2% | $1.9B-9.7% | $2.1B+0.8% | $2.1B+8.5% | $1.9B+6.9% | $1.8B |
| Current Assets | $989.6M+34.2% | $737.3M+41.6% | $520.8M-36.6% | $821.4M-20.2% | $1.0B-0.3% | $1.0B+18.3% | $872.5M+17.1% | $744.9M |
| Cash & Equivalents | $497.0M+74.2% | $285.4M+515.9% | $46.3M-89.5% | $441.4M-34.1% | $669.4M+1.9% | $656.9M+28.6% | $510.9M+25.5% | $407.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $662.4M0.0% | $662.4M0.0% | $662.4M0.0% | $662.4M0.0% | $662.4M0.0% | $662.4M0.0% | $662.4M0.0% | $662.4M |
| Total Liabilities | $1.5B+3.9% | $1.5B+4.3% | $1.4B+7.3% | $1.3B+2.2% | $1.3B+6.0% | $1.2B+4.0% | $1.2B+2.9% | $1.1B |
| Current Liabilities | $1.3B+4.7% | $1.3B+5.2% | $1.2B+8.7% | $1.1B+1.6% | $1.1B+6.1% | $1.0B+4.9% | $993.1M+3.8% | $956.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $459.1M+56.3% | $293.6M+70.4% | $172.4M-71.0% | $593.6M-28.1% | $825.5M-6.3% | $881.4M+15.4% | $763.6M+13.7% | $671.5M |
| Retained Earnings | -$460.0M+22.9% | -$596.2M+15.2% | -$703.2M-160.7% | -$269.7M-3402.5% | $8.2M-87.6% | $65.6M+313.2% | -$30.8M+74.2% | -$119.1M |
MEDP Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $192.7M-21.8% | $246.2M+65.8% | $148.5M+18.0% | $125.8M-34.0% | $190.7M+27.9% | $149.1M+28.1% | $116.4M-23.8% | $152.7M |
| Capital Expenditures | $4.5M-57.7% | $10.7M+75.2% | $6.1M-38.8% | $10.0M+30.8% | $7.6M-27.5% | $10.5M-18.1% | $12.9M+134.1% | $5.5M |
| Free Cash Flow | $188.1M-20.1% | $235.5M+65.4% | $142.4M+22.9% | $115.8M-36.7% | $183.0M+32.1% | $138.5M+33.8% | $103.5M-29.7% | $147.2M |
| Investing Cash Flow | -$4.5M+58.0% | -$10.7M-77.1% | -$6.0M+39.7% | -$10.0M-32.1% | -$7.6M+27.9% | -$10.5M+18.0% | -$12.8M-605.5% | $2.5M |
| Financing Cash Flow | $22.7M+566.0% | $3.4M+100.6% | -$540.6M-56.2% | -$346.0M-105.2% | -$168.6M-2787.4% | $6.3M+842.0% | $666K-91.3% | $7.7M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0-100.0% | $4.6M-99.2% | $540.9M+45.4% | $371.9M+118.9% | $169.9M | $0 | $0 | $0 |
MEDP Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 21.6%+0.1pp | 21.5%+0.6pp | 20.9%+0.6pp | 20.3%-3.0pp | 23.4%+2.3pp | 21.1%+1.1pp | 19.9%-0.5pp | 20.4% |
| Net Margin | 19.1%+2.2pp | 16.8%+1.9pp | 15.0%-5.6pp | 20.5%-1.3pp | 21.8%+3.7pp | 18.1%+1.3pp | 16.7%-3.3pp | 20.1% |
| Return on Equity | 29.4%-8.4pp | 37.9%-14.5pp | 52.4%+33.1pp | 19.3%+5.1pp | 14.2%+3.2pp | 10.9%-0.6pp | 11.6%-3.7pp | 15.3% |
| Return on Assets | 6.8%+0.5pp | 6.3%+0.6pp | 5.7%-0.3pp | 6.0%+0.5pp | 5.6%+0.9pp | 4.6%+0.0pp | 4.6%-1.1pp | 5.7% |
| Current Ratio | 0.74+0.2 | 0.57+0.1 | 0.43-0.3 | 0.73-0.2 | 0.93-0.1 | 0.99+0.1 | 0.88+0.1 | 0.78 |
| Debt-to-Equity | 3.30-1.7 | 4.97-3.1 | 8.12+5.9 | 2.20+0.7 | 1.54+0.2 | 1.36-0.2 | 1.51-0.2 | 1.67 |
| FCF Margin | 26.6%-9.1pp | 35.7%+12.1pp | 23.6%+2.9pp | 20.7%-13.4pp | 34.1%+8.1pp | 26.0%+6.4pp | 19.6%-9.2pp | 28.8% |
Note: The current ratio is below 1.0 (0.74), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Medpace Holdings's annual revenue?
Medpace Holdings (MEDP) reported $53 in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Medpace Holdings's revenue growing?
Medpace Holdings (MEDP) revenue declined by 100% year-over-year, from $2.1B to $53 in fiscal year 2025.
Is Medpace Holdings profitable?
Yes, Medpace Holdings (MEDP) reported a net income of $451K in fiscal year 2025, with a net profit margin of 847975.6%.
What is Medpace Holdings's earnings per share (EPS)?
Medpace Holdings (MEDP) reported diluted earnings per share of $15.28 for fiscal year 2025. This represents a 21.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Medpace Holdings's EBITDA?
Medpace Holdings (MEDP) had EBITDA of $563K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Medpace Holdings's operating margin?
Medpace Holdings (MEDP) had an operating margin of 1005516.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Medpace Holdings's net profit margin?
Medpace Holdings (MEDP) had a net profit margin of 847975.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Medpace Holdings's return on equity (ROE)?
Medpace Holdings (MEDP) has a return on equity of 98.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Medpace Holdings's free cash flow?
Medpace Holdings (MEDP) generated $682K in free cash flow during fiscal year 2025. This represents a -99.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Medpace Holdings's operating cash flow?
Medpace Holdings (MEDP) generated $713K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Medpace Holdings's total assets?
Medpace Holdings (MEDP) had $2.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Medpace Holdings's capital expenditures?
Medpace Holdings (MEDP) invested $31K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Medpace Holdings buy back shares?
Yes, Medpace Holdings (MEDP) spent $917K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Medpace Holdings have outstanding?
Medpace Holdings (MEDP) had 28M shares outstanding as of fiscal year 2025.
What is Medpace Holdings's current ratio?
Medpace Holdings (MEDP) had a current ratio of 0.74 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Medpace Holdings's debt-to-equity ratio?
Medpace Holdings (MEDP) had a debt-to-equity ratio of 3.30 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Medpace Holdings's return on assets (ROA)?
Medpace Holdings (MEDP) had a return on assets of 22.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Medpace Holdings's Altman Z-Score?
Medpace Holdings (MEDP) has an Altman Z-Score of 4807.66, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Medpace Holdings's Piotroski F-Score?
Medpace Holdings (MEDP) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Medpace Holdings's earnings high quality?
Medpace Holdings (MEDP) has an earnings quality ratio of 1.58x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Medpace Holdings?
Medpace Holdings (MEDP) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.