MEDP|Medpace Holdings, Inc.
Services-Commercial Physical & Biological Research
- Revenue
- $2.5B
- ▲ 20% YoY
- Operating margin
- 21.1%
- – 0.2% YoY
- EBITDA
- $562M
- ▲ 18% YoY
- Market cap
- $18.2B
- Employees
- 6,200
- $408K revenue each
- Net debt / EBITDA
- -1.0×
- −$543M net debt
- AI in 10-K
- 3.1
- mentions per 10K words
TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
158% of net income
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowYes
129% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
29% of assets
Over 40% of assets
Shareholder dissentNo
91% lowest support
Any vote under 80% support
Buyer economics 1 of 4
Low revenue per employeeNo
$408K · 72nd pct
Bottom quartile of its SIC industry
Quiet on AINo
3.1 per 10K words · 71st pct
Bottom quartile of AI mentions in 10-Ks
Net cashYes
Net cash · 1.0× EBITDA
More cash than debt, positive EBITDA
Buyout-sizedNo
$18.2B market cap
Market cap $500M–$5B
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY | Trend |
|---|
| Revenue | $1.1B | $1.5B | $1.9B | $2.1B | $2.5B | ▲ 20% | |
|---|
| Operating income | $199M | $279M | $337M | $447M | $535M | ▲ 20% | |
|---|
| Net income | $182M | $245M | $283M | $404M | $451M | ▲ 12% | |
|---|
| Operating cash flow | $263M | $388M | $433M | $609M | $713M | ▲ 17% | |
|---|
| Capex | $28M | $37M | $37M | $37M | $31M | ▼ 14% | |
|---|
| Stock-based comp | $14M | $21M | $21M | $26M | $35M | ▲ 36% | |
|---|
| Buybacks | $62M | $848M | $144M | $170M | $917M | ▲ 440% | |
|---|
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|
| Sep 28, 2026 | Troendle August J. | SCHEDULE 13D/A | 19.1% | Passive |
| Dec 1, 2025 | Troendle August J. | SCHEDULE 13D/A | 20.0% | Passive |
| Mar 11, 2025 | Troendle August J. | SCHEDULE 13D/A | 19.5% | Passive |
| Mar 8, 2024 | Troendle August J. | SC 13D/A | 19.4% | Passive |
| Feb 28, 2024 | Troendle August J. | SC 13D/A | 20.8% | Passive |
| Dec 5, 2023 | Troendle August J. | SC 13D/A | 21.9% | Passive |
| Sep 22, 2023 | Troendle August J. | SC 13D/A | 23.0% | Passive |
| Sep 21, 2022 | Troendle August J. | SC 13D/A | 23.9% | Passive |
| Sep 13, 2022 | Troendle August J. | SC 13D/A | 22.5% | Passive |
| Jul 6, 2022 | Troendle August J. | SC 13D/A | 21.2% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $453M · 55
- Net
- −$453M
Pay vs performance
No pay-versus-performance disclosure yet.