Medpace Holdings, Inc.

Health Care
Biotechnology: Commercial Physical & Biological Resarch
www.medpace.com

Earnings Score
Moat Score

Market Cap $10.85B
PE 30
Debt $NaN
Cash $656.90M
EV $NaN
FCF $535.65M

Earnings

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Sales & Net Margins

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Earnings	$365.57M
EBIT	$429.36M
ROE	41%
ROA	21%
FCF	$535.65M
Equity	$881.44M
Growth Stability	100%
PE	29.69
PEG	0.99
PB	12.31
P/FCF	20.26
P/S	5.24
Price/Cash	0.06
Net Margins	18%
Op. Margins	21%
Earnings CAGR	49%
Sales Growth YoY	8%
Sales Growth QoQ	1%
Sales CAGR	23%
FCF CAGR	26%
Equity CAGR	1%
Earnings Stability	0.87
Earnings Growth YoY	37%

Earnings Growth QoQ	9%
Earnings CAGR 5Y	30%
Sales CAGR 5Y	23%
FCF CAGR 5Y	25%
Equity CAGR 5Y	-8%
Earnings CAGR 3Y	26%
Sales CAGR 3Y	26%
FCF CAGR 3Y	37%
Equity CAGR 3Y	16%
Market Cap	$10.85B
Revenue	$2.07B
Assets	$2.08B
Cash	$656.90M
Shares Outstanding	30.96M
Earnings Score	95%
Moat Score	97%
Working Capital	-8.76M
Current Ratio	0.99
Shares Growth 3y	-3%
Equity Growth QoQ	15%
Equity Growth YoY	87%

Assets & ROA

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Stockholders Equity & ROE

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Medpace Holdings Inc is a clinical contract research organization. It is engaged in scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries. It operates in North America, Europe, Africa, Middle East, Asia-Pacific and Latin America.

SEC Filings

Direct access to Medpace Holdings, Inc. (MEDP) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Medpace Holdings, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Medpace Holdings, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 49%

Stability 87%

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Medpace Holdings, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Medpace Holdings, Inc..

Years

Calculation mode

= $34B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$536M	$676M	$854M	$1.1B	$1.4B	$1.7B	$2.2B	$2.7B	$3.5B	$4.4B	$5.5B	$55B
DCF		$615M	$706M	$810M	$929M	$1.1B	$1.2B	$1.4B	$1.6B	$1.9B	$2.1B	$21B
Value	$34B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-2%	3%	9%	10%	12%	16%	16%	17%	15%	18%
ROA	2%	5%	7%	10%	11%	12%	12%	21%	20%	21%
ROE	-2%	2%	8%	12%	14%	18%	19%	63%	51%	41%

Good Net Margins (18.27%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	4.91	2.27	2.79	0.57	0	-	0	0.14	0	-
Debt over Equity	0.94	0.29	0.47	0.14	0	-	0	0.13	0	-
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	100%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	17%	3%	62%	22%	8%	23%	28%	29%	23%
Earnings YoY growth	-	-254%	191%	87%	37%	45%	25%	35%	15%	30%
Equity YoY growth	-	48%	-18%	17%	23%	11%	18%	-59%	45%	-8%
FCF YoY growth	-	-2%	10%	64%	31%	24%	3%	49%	13%	25%