Medpace Holdings, Inc. (MEDP) Balance Sheet
MEDP balance sheet, 2025
December 31, 2025 · U.S. dollars$1.98B assets = $1.52B liabilities + $459.1M equity
Both columns are drawn to the same scale: what MEDP owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MEDP financial health
Descriptive bands, not a rating. Fiscal 2025.
MEDP balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $979.1M2016 | $1.98B2025 | +8.1%/yr | |
| Total liabilities | $368.4M2016 | $1.52B2025 | +17.0%/yr | |
| Shareholders’ equity | $610.7M2016 | $459.1M2025 | −3.1%/yr | |
| Cash & short-term investments | $37.1M2016 | $497.0M2025 | +33.4%/yr | |
| Total debt | $192.2M2016 | $136.9M2025 | −3.7%/yr | |
| Net cash (debt) | −$155.1M2016 | $360.2M2025 | +$515.3M | |
| Working capital | −$35.4M2016 | −$354.1M2025 | −$318.8M | |
| Book value per share | $16.812016 | $15.552025 | −0.9%/yr | |
| Current ratio | 0.792016 | 0.742025 | −0.05 | |
| Debt / equity | 0.312016 | 0.302025 | −0.02 | |
| Shares outstanding | 36.3M2016 | 29.5M2025 | −2.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MEDP assets
MEDP liabilities and equity
MEDP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MEDP balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $497.0M | $669.4M | $245.4M | $28.3M | $461.3M | $277.8M | $131.9M | $23.3M | $26.5M | $37.1M |
| Cash & equivalents | $497.0M | $669.4M | $245.4M | $28.3M | $461.3M | $277.8M | $131.9M | $23.3M | $26.5M | $37.1M |
| Short-term investments | — | — | — | — | — | — | — | — | $7,000 | $308,000 |
| Receivables | $402.1M | $296.4M | $298.4M | $253.4M | $186.4M | $161.0M | $155.7M | $133.4M | $83.1M | $79.8M |
| Inventory | $0 | $0 | $1 | $0 | $0 | $0 | $1 | $7,000 | $7,000 | $308,000 |
| Other current assets | $90.5M | $63.4M | $50.0M | $52.3M | $43.2M | $34.9M | $29.4M | $21.4M | $20.4M | $16.1M |
| Total current assets | $989.6M | $1.03B | $593.8M | $334.0M | $690.9M | $473.7M | $317.0M | $178.1M | $130.0M | $133.2M |
| Property, plant & equipment (net) | $248.9M | $252.3M | $265.4M | $248.9M | $222.7M | $198.8M | $99.4M | $52.3M | $48.7M | $43.8M |
| Goodwill & intangible assets | $695.8M | $696.8M | $698.2M | $700.4M | $703.8M | $708.9M | $716.7M | $730.2M | $759.7M | $797.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $41.2M | $122.6M | $99.4M | $69.2M | $42.6M | $9.3M | $9.9M | $7.4M | $12.3M | $5.0M |
| Total assets | $1.98B | $2.10B | $1.66B | $1.35B | $1.66B | $1.39B | $1.14B | $967.9M | $950.7M | $979.1M |
| Liabilities | ||||||||||
| Accounts payable | $28.1M | $32.5M | $31.9M | $33.1M | $25.7M | $26.6M | $22.4M | $16.7M | $16.7M | $10.9M |
| Short-term debt | $23.2M | $23.3M | $22.4M | $69.3M | $16.3M | $15.9M | $11.0M | $87.5M | $16.5M | $12.4M |
| Deferred revenue | $854.4M | $710.6M | $559.9M | $462.7M | $344.6M | $255.7M | $192.4M | $147.9M | $73.8M | $65.7M |
| Total current liabilities | $1.34B | $1.10B | $925.1M | $803.5M | $557.2M | $440.1M | $343.0M | $257.0M | $192.7M | $168.6M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $104.2M | $231.7M | $179.8M |
| Lease obligations | $113.6M | $126.2M | $142.1M | $138.9M | $131.0M | $115.1M | $45.2M | $24.5M | $26.6M | $28.5M |
| Other long-term liabilities | $172.7M | $170.8M | $172.7M | $162.6M | $149.8M | $144.8M | $73.8M | $17.0M | $22.8M | $20.0M |
| Total liabilities | $1.52B | $1.28B | $1.10B | $966.1M | $707.0M | $584.9M | $416.8M | $378.2M | $447.2M | $368.4M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $284,000 | $306,000 | $308,000 | $309,000 | $360,000 | $355,000 | $360,000 | $356,000 | $355,000 | $407,000 |
| Retained earnings (deficit) | −$460.0M | $8.2M | −$221.6M | −$359.8M | $235.0M | $115.2M | $68.1M | −$41.5M | −$120.4M | −$9.6M |
| Treasury stock | — | — | — | −$12.5M | −$5.4M | −$5.6M | −$6.0M | −$6.0M | −$6.0M | $0 |
| Accumulated other comprehensive income | −$4.9M | −$14.7M | −$10.1M | −$12.4M | −$4.8M | −$131,000 | −$2.7M | −$2.5M | −$734,000 | −$3.7M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $459.1M | $825.5M | $559.0M | $386.4M | $952.9M | $805.8M | $726.3M | $589.7M | $503.5M | $610.7M |
| Key figures | ||||||||||
| Total debt | $136.9M | $149.5M | $164.5M | $208.1M | $147.2M | $131.0M | $56.2M | $191.7M | $248.2M | $192.2M |
| Net cash (debt) | $360.2M | $519.9M | $81.0M | −$179.9M | $314.1M | $146.7M | $75.7M | −$168.4M | −$221.7M | −$155.1M |
| Working capital | −$354.1M | −$75.3M | −$331.3M | −$469.5M | $133.7M | $33.5M | −$26.0M | −$78.9M | −$62.7M | −$35.4M |
| Tangible book value | −$236.7M | $128.8M | −$139.3M | −$314.0M | $249.2M | $96.9M | $9.5M | −$140.5M | −$256.2M | −$186.3M |
| Book value per share | $15.55 | $25.79 | $17.55 | $11.48 | $25.28 | $21.37 | $19.33 | $15.98 | $12.64 | $16.81 |
| Shares outstanding | 29.5M | 32.0M | 31.8M | 33.7M | 37.7M | 37.7M | 37.6M | 36.9M | 39.8M | 36.3M |
| Current ratio | 0.74 | 0.93 | 0.64 | 0.42 | 1.24 | 1.08 | 0.92 | 0.69 | 0.67 | 0.79 |
| Quick ratio | 0.67 | 0.87 | 0.59 | 0.35 | 1.16 | 1.00 | 0.84 | 0.61 | 0.57 | 0.69 |
| Debt / equity | 0.30 | 0.18 | 0.29 | 0.54 | 0.15 | 0.16 | 0.08 | 0.33 | 0.49 | 0.31 |
| Equity / assets | 23.2% | 39.3% | 33.7% | 28.6% | 57.4% | 57.9% | 63.5% | 60.9% | 53.0% | 62.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $502.7M | $652.7M | $497.0M | $285.4M | $46.3M | $441.4M | $669.4M | $656.9M | $510.9M | $407.0M | $245.4M | $95.2M |
| Cash & equivalents | $502.7M | $652.7M | $497.0M | $285.4M | $46.3M | $441.4M | $669.4M | $656.9M | $510.9M | $407.0M | $245.4M | $95.2M |
| Receivables | $441.8M | $394.6M | $402.1M | $373.0M | $377.9M | $298.2M | $296.4M | $311.5M | $301.1M | $279.2M | $298.4M | $292.8M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $1 |
| Other current assets | $105.8M | $91.8M | $90.5M | $78.9M | $96.6M | $81.8M | $63.4M | $64.2M | $60.5M | $58.7M | $50.0M | $60.9M |
| Total current assets | $1.05B | $1.14B | $989.6M | $737.3M | $520.8M | $821.4M | $1.03B | $1.03B | $872.5M | $744.9M | $593.8M | $448.9M |
| Property, plant & equipment (net) | $283.0M | $263.4M | $248.9M | $256.8M | $265.0M | $258.2M | $252.3M | $254.6M | $256.4M | $257.4M | $265.4M | $258.9M |
| Goodwill & intangible assets | $695.5M | $695.7M | $695.8M | $696.1M | $696.3M | $696.5M | $696.8M | $697.1M | $697.5M | $697.8M | $698.2M | $698.8M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $28.4M | $31.5M | $41.2M | $62.9M | $89.6M | $121.2M | $122.6M | $99.7M | $93.6M | $95.6M | $99.4M | $80.2M |
| Total assets | $2.06B | $2.13B | $1.98B | $1.75B | $1.57B | $1.90B | $2.10B | $2.08B | $1.92B | $1.80B | $1.66B | $1.49B |
| Liabilities | ||||||||||||
| Accounts payable | $37.5M | $34.4M | $28.1M | $26.5M | $43.3M | $61.3M | $32.5M | $26.2M | $27.4M | $24.4M | $31.9M | $29.0M |
| Short-term debt | $24.0M | $23.8M | $23.2M | $24.9M | $24.9M | $23.7M | $23.3M | $23.6M | $21.9M | $22.0M | $22.4M | $20.3M |
| Deferred revenue | $904.7M | $856.3M | $854.4M | $834.3M | $808.8M | $718.7M | $710.6M | $670.9M | $638.4M | $616.7M | $559.9M | $518.8M |
| Total current liabilities | $1.44B | $1.35B | $1.34B | $1.28B | $1.22B | $1.12B | $1.10B | $1.04B | $993.1M | $956.6M | $925.1M | $848.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $120.1M | $122.3M | $113.6M | $119.1M | $124.9M | $126.7M | $126.2M | $128.3M | $131.8M | $136.2M | $142.1M | $143.0M |
| Other long-term liabilities | $187.9M | $186.3M | $172.7M | $175.5M | $178.9M | $181.4M | $170.8M | $161.3M | $163.4M | $167.6M | $172.7M | $167.3M |
| Total liabilities | $1.62B | $1.53B | $1.52B | $1.46B | $1.40B | $1.30B | $1.28B | $1.20B | $1.16B | $1.12B | $1.10B | $1.02B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $279,000 | $286,000 | $284,000 | $282,000 | $281,000 | $298,000 | $306,000 | $311,000 | $310,000 | $310,000 | $308,000 | $307,000 |
| Retained earnings (deficit) | −$511.4M | −$336.1M | −$460.0M | −$596.2M | −$703.2M | −$269.7M | $8.2M | $65.6M | −$30.8M | −$119.1M | −$221.6M | −$300.2M |
| Accumulated other comprehensive income | −$7.1M | −$7.1M | −$4.9M | −$5.7M | −$5.7M | −$11.6M | −$14.7M | −$9.2M | −$12.6M | −$12.0M | −$10.1M | −$12.9M |
| Total shareholders' equity | $433.9M | $598.3M | $459.1M | $293.6M | $172.4M | $593.6M | $825.5M | $881.4M | $763.6M | $671.5M | $559.0M | $470.9M |
| Key figures | ||||||||||||
| Total debt | $144.1M | $146.1M | $136.9M | $144.0M | $149.8M | $150.3M | $149.5M | $151.9M | $153.7M | $158.1M | $164.5M | $163.3M |
| Net cash (debt) | $358.6M | $506.6M | $360.2M | $141.4M | −$103.5M | $291.1M | $519.9M | $505.0M | $357.2M | $248.9M | $81.0M | −$68.1M |
| Working capital | −$385.1M | −$206.0M | −$354.1M | −$546.6M | −$699.6M | −$300.9M | −$75.3M | −$8.8M | −$120.6M | −$211.7M | −$331.3M | −$399.6M |
| Tangible book value | −$261.6M | −$97.3M | −$236.7M | −$402.4M | −$523.9M | −$102.9M | $128.8M | $184.3M | $66.1M | −$26.3M | −$139.3M | −$227.8M |
| Book value per share | $15.09 | $20.66 | $15.85 | $9.88 | $5.71 | $19.03 | $25.79 | $27.47 | $23.80 | $20.99 | $17.56 | $14.83 |
| Shares outstanding | 28.8M | 29.0M | 29.0M | 29.7M | 30.2M | 31.2M | 32.0M | 32.1M | 32.1M | 32.0M | 31.8M | 31.8M |
| Current ratio | 0.73 | 0.85 | 0.74 | 0.57 | 0.43 | 0.73 | 0.93 | 0.99 | 0.88 | 0.78 | 0.64 | 0.53 |
| Quick ratio | 0.66 | 0.78 | 0.67 | 0.51 | 0.35 | 0.66 | 0.87 | 0.93 | 0.82 | 0.72 | 0.59 | 0.46 |
| Debt / equity | 0.33 | 0.24 | 0.30 | 0.49 | 0.87 | 0.25 | 0.18 | 0.17 | 0.20 | 0.24 | 0.29 | 0.35 |
| Equity / assets | 21.1% | 28.1% | 23.2% | 16.8% | 11.0% | 31.3% | 39.3% | 42.3% | 39.8% | 37.4% | 33.7% | 31.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 10, 2026); data from EODHD.
MEDP financial position
At the end of fiscal 2025 (December 31, 2025), Medpace had total assets of $2.0 billion (down 6.0% from a year earlier), total liabilities of $1.5 billion and shareholders' equity of $459.1 million. It held $497.0 million in cash and short-term investments against $136.9 million of debt, a net cash position of $360.2 million. Its current ratio was 0.74. In the latest quarter (ended June 30, 2026) total assets were $2.1 billion and equity $433.9 million.
Related: MEDP income statement, MEDP cash flow statement, MEDP key metrics. See the MEDP stock overview for the latest quote and news.
MEDP balance sheet FAQ
What are Medpace's total assets?
Medpace reported total assets of $2.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.1 billion a year earlier.
How much debt does Medpace have?
Medpace had $136.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.30.
How much cash does Medpace have?
Medpace held $497.0 million in cash and short-term investments at the end of fiscal 2025; with $136.9 million of debt that is net cash of $360.2 million.
What is Medpace's book value?
Medpace's shareholders' equity (book value) was $459.1 million at the end of fiscal 2025, or $15.55 per share.
What is Medpace's current ratio?
Medpace had current assets of $989.6 million and current liabilities of $1.3 billion, a current ratio of 0.74 (current liabilities exceed current assets).
How much goodwill does Medpace have?
Medpace carried $695.8 million of goodwill and intangible assets, 35.2% of total assets, at the end of fiscal 2025.