Medpace Holdings, Inc. (MEDP) Key Metrics
MEDP valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $17.26B
- Enterprise value
- $16.84B
- P/E (TTM)
- 36.3 10-yr median 35.3
- Forward P/E
- 31.9
- PEG ratio
- 2.93
- Price / sales
- 6.2 10-yr median 5.0
- Price / book
- 39.7 10-yr median 7.6
- EV / EBITDA
- 27.6 10-yr median 22.1
- Dividend yield
- —
- Beta
- 1.18
MEDP key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMEDP valuation Price multiples at each fiscal year-end price.
MEDP returns How much profit the business earns on the capital it uses.
MEDP per-share figures Results divided by the shares outstanding at year-end.
MEDP financial health Debt, liquidity and how easily interest is covered.
MEDP efficiency & capital use Working capital cycle and where the cash goes.
MEDP valuation history
MEDP returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MEDP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MEDP cash returned to shareholders
MEDP price vs earnings per share
MEDP key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $16.58B | $10.64B | $9.76B | $7.15B | $8.20B | $5.25B | $3.16B | $1.95B | $1.44B | $1.31B |
| Enterprise value | $16.22B | $10.12B | $9.68B | $7.33B | $7.89B | $5.10B | $3.08B | $2.12B | $1.67B | $1.47B |
| P/E ratio | 36.8 | 26.3 | 34.5 | 29.1 | 45.1 | 36.1 | 31.4 | 26.7 | 36.9 | 97.6 |
| Price / sales | 6.6 | 5.0 | 5.2 | 4.9 | 7.2 | 5.7 | 3.7 | 2.8 | 3.3 | 3.1 |
| Price / book | 36.1 | 12.9 | 17.5 | 18.5 | 8.6 | 6.5 | 4.3 | 3.3 | 2.9 | 2.1 |
| Price / free cash flow | 24.3 | 18.6 | 24.6 | 20.4 | 34.9 | 23.1 | 17.2 | 13.9 | 17.0 | 16.8 |
| Price / operating cash flow | 23.3 | 17.5 | 22.5 | 18.4 | 31.2 | 20.3 | 15.6 | 12.5 | 14.8 | 14.3 |
| EV / sales | 6.4 | 4.8 | 5.1 | 5.0 | 6.9 | 5.5 | 3.6 | 3.0 | 3.8 | 3.5 |
| EV / EBITDA | 28.4 | 20.0 | 26.7 | 23.8 | 35.4 | 27.3 | 20.5 | 15.2 | 15.0 | 14.7 |
| EV / free cash flow | 23.8 | 17.7 | 24.4 | 20.9 | 33.6 | 22.4 | 16.8 | 15.1 | 19.6 | 18.7 |
| Earnings yield | 2.7% | 3.8% | 2.9% | 3.4% | 2.2% | 2.8% | 3.2% | 3.7% | 2.7% | 1.0% |
| Free cash flow yield | 4.1% | 5.4% | 4.1% | 4.9% | 2.9% | 4.3% | 5.8% | 7.2% | 5.9% | 6.0% |
| Dividend yield | — | — | 0.1% | 0.3% | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 5.5% | 1.6% | 1.6% | 12.2% | 0.8% | 1.9% | 0.0% | 0.0% | 10.8% | 0.2% |
| Share price at fiscal year-end | $561.65 | $332.23 | $306.53 | $212.41 | $217.64 | $139.20 | $84.06 | $52.93 | $36.26 | $36.07 |
| Per share | ||||||||||
| Revenue per share | $85.69 | $65.88 | $59.23 | $43.36 | $30.30 | $24.56 | $22.91 | $19.09 | $10.95 | $11.60 |
| Earnings per share | $15.28 | $12.63 | $8.88 | $7.29 | $4.82 | $3.86 | $2.67 | $1.98 | $0.98 | $0.37 |
| Operating cash flow per share | $24.15 | $19.02 | $13.61 | $11.52 | $6.99 | $6.86 | $5.37 | $4.24 | $2.44 | $2.53 |
| Free cash flow per share | $23.09 | $17.88 | $12.46 | $10.43 | $6.24 | $6.03 | $4.90 | $3.81 | $2.14 | $2.15 |
| Cash per share | $16.83 | $20.91 | $7.71 | $0.84 | $12.24 | $7.37 | $3.51 | $0.63 | $0.66 | $1.02 |
| Book value per share | $15.55 | $25.79 | $17.55 | $11.48 | $25.28 | $21.37 | $19.33 | $15.98 | $12.64 | $16.81 |
| Tangible book value per share | −$8.02 | $4.02 | −$4.37 | −$9.33 | $6.61 | $2.57 | $0.25 | −$3.81 | −$6.43 | −$5.13 |
| Dividends per share | — | — | $0.36 | $0.66 | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $1.06 | $1.14 | $1.15 | $1.10 | $0.75 | $0.83 | $0.48 | $0.43 | $0.31 | $0.37 |
| Debt per share | $4.63 | $4.67 | $5.17 | $6.18 | $3.91 | $3.47 | $1.50 | $5.19 | $6.23 | $5.29 |
| Shares outstanding | 29.5M | 32.0M | 31.8M | 33.7M | 37.7M | 37.7M | 37.6M | 36.9M | 39.8M | 36.3M |
| Change in shares outstanding | −7.8% | +0.5% | −5.4% | −10.7% | −0.0% | +0.4% | +1.8% | −7.3% | +9.7% | −8.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 70.2% | 58.4% | 59.8% | 36.6% | 20.7% | 19.0% | 15.3% | 13.4% | 7.0% | 2.6% |
| Return on invested capital (ROIC) | 220.0% | 96.9% | 54.3% | 40.1% | 27.6% | 22.0% | 14.5% | 10.6% | 6.0% | 4.0% |
| Return on assets (ROA) | 22.1% | 21.5% | 18.8% | 16.3% | 11.9% | 11.5% | 9.5% | 7.6% | 4.1% | 1.4% |
| Return on tangible assets | 35.3% | 28.8% | 29.5% | 37.6% | 19.0% | 21.3% | 23.6% | 30.8% | 20.5% | 7.4% |
| Free cash flow margin | 26.9% | 27.1% | 21.0% | 24.1% | 20.6% | 24.6% | 21.4% | 19.9% | 19.5% | 18.5% |
| Income quality (OCF / net income) | 1.58 | 1.51 | 1.53 | 1.58 | 1.45 | 1.78 | 2.01 | 2.14 | 2.49 | 6.83 |
| Financial health | ||||||||||
| Total debt | $136.9M | $149.5M | $164.5M | $208.1M | $147.2M | $131.0M | $56.2M | $191.7M | $248.2M | $192.2M |
| Cash & short-term investments | $497.0M | $669.4M | $245.4M | $28.3M | $461.3M | $277.8M | $131.9M | $23.3M | $26.5M | $37.1M |
| Net debt | −$360.2M | −$519.9M | −$81.0M | $179.9M | −$314.1M | −$146.7M | −$75.7M | $168.4M | $221.7M | $155.1M |
| Debt / equity | 0.30 | 0.18 | 0.29 | 0.54 | 0.15 | 0.16 | 0.08 | 0.33 | 0.49 | 0.31 |
| Debt / assets | 0.07 | 0.07 | 0.10 | 0.15 | 0.09 | 0.09 | 0.05 | 0.20 | 0.26 | 0.20 |
| Net debt / EBITDA | −0.63 | −1.03 | −0.22 | 0.58 | −1.41 | −0.79 | −0.50 | 1.20 | 2.00 | 1.56 |
| Current ratio | 0.74 | 0.93 | 0.64 | 0.42 | 1.24 | 1.08 | 0.92 | 0.69 | 0.67 | 0.79 |
| Quick ratio | 0.74 | 0.93 | 0.64 | 0.42 | 1.24 | 1.08 | 0.92 | 0.69 | 0.67 | 0.79 |
| Interest coverage | — | 17.9 | 690.2 | 95.9 | — | 544.1 | 81.2 | 12.4 | 8.6 | 2.7 |
| Working capital | −$354.1M | −$75.3M | −$331.3M | −$469.5M | $133.7M | $33.5M | −$26.0M | −$78.9M | −$62.7M | −$35.4M |
| Invested capital | $98.9M | $305.6M | $478.0M | $566.3M | $638.9M | $659.0M | $650.6M | $758.1M | $725.3M | $765.8M |
| Tangible asset value | −$236.7M | $128.8M | −$139.3M | −$314.0M | $249.2M | $96.9M | $9.5M | −$140.5M | −$256.2M | −$186.3M |
| Net current asset value | −$526.8M | −$246.1M | −$504.1M | −$632.1M | −$16.1M | −$111.2M | −$99.8M | −$200.1M | −$317.2M | −$235.1M |
| Graham number | $73.11 | $85.61 | $59.23 | $43.38 | $52.38 | $43.06 | $34.10 | $26.70 | $16.71 | $11.82 |
| Graham net-net per share | −$24.31 | −$11.98 | −$19.74 | −$22.21 | −$2.81 | −$4.94 | −$4.47 | −$6.90 | −$9.00 | −$7.47 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | $11.4M | $22.1M | — | — | — | — | $0 | $0 |
| Share buybacks (net) | $917.4M | $169.9M | $144.0M | $847.8M | $62.1M | $98.3M | $0 | $0 | $155.6M | $2.7M |
| Dividend payout ratio | — | — | 4.0% | 9.0% | — | — | — | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 134.5% | 29.7% | 39.2% | 247.7% | 26.4% | 43.2% | 0.0% | 0.0% | 182.8% | 3.5% |
| Capex / revenue | 1.2% | 1.7% | 1.9% | 2.5% | 2.5% | 3.4% | 2.1% | 2.3% | 2.8% | 3.2% |
| Capex / operating cash flow | 4.4% | 6.0% | 8.5% | 9.5% | 10.7% | 12.1% | 8.9% | 10.2% | 12.6% | 14.8% |
| Capex / depreciation | 1.11 | 1.25 | 1.39 | 1.65 | 1.34 | 1.60 | 0.77 | 0.41 | 0.26 | 0.23 |
| Stock-based compensation / revenue | 1.4% | 1.2% | 1.1% | 1.5% | 1.3% | 1.5% | 2.4% | 0.9% | 1.0% | 2.3% |
| SG&A / revenue | 7.8% | 8.5% | 8.6% | 9.0% | 9.5% | 10.0% | 11.1% | 10.9% | 14.7% | 14.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 50.4 | 51.5 | 53.4 | 55.0 | 55.5 | 62.4 | 61.3 | 56.1 | 68.1 | 62.7 |
| Days of inventory on hand | — | — | 0.0 | — | — | — | 0.0 | 0.0 | 0.2 | 2.3 |
| Days payables outstanding | 6.3 | 8.1 | 8.7 | 10.4 | 11.7 | 13.8 | 11.6 | 12.5 | 19.3 | 14.4 |
| Cash conversion cycle (days) | 44.1 | 43.4 | 44.7 | 44.5 | 43.8 | 48.6 | 49.7 | 43.6 | 49.1 | 50.7 |
| Receivables turnover | 7.24 | 7.09 | 6.84 | 6.64 | 6.58 | 5.85 | 5.96 | 6.51 | 5.36 | 5.82 |
| Payables turnover | 58.34 | 45.12 | 41.93 | 34.98 | 31.18 | 26.44 | 31.44 | 29.28 | 18.96 | 25.41 |
| Inventory turnover | — | — | 1,361,337,000.00 | — | — | — | 175,766.89 | 69,865.57 | 1,660.08 | 157.64 |
| Asset turnover | 1.24 | 1.12 | 1.25 | 0.97 | 0.75 | 0.73 | 0.82 | 0.73 | 0.45 | 0.43 |
| Average receivables | $349.3M | $297.4M | $275.9M | $219.9M | $173.7M | $158.3M | $144.6M | $108.3M | $81.4M | $72.4M |
| Average payables | $30.3M | $32.2M | $32.5M | $29.4M | $26.1M | $24.5M | $19.6M | $16.7M | $13.8M | $9.8M |
| Average inventory | — | — | $1 | — | — | — | $3,500 | $7,000 | $157,500 | $1.6M |
| Intangibles / total assets | 35.2% | 33.2% | 42.1% | 51.8% | 42.4% | 51.0% | 62.7% | 75.4% | 79.9% | 81.4% |
Computed from MEDP's annual financial statements (latest annual report filed February 10, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MEDP valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Medpace traded at 36.8 times earnings, against a 10-year median of 35.3. Based on the latest twelve months, the trailing P/E is 36.3 and the forward P/E is 31.9. Medpace earned a return on equity of 70.2% and a return on invested capital of 220.0% in fiscal 2025. It ended the year with $136.9 million of debt and $497.0 million in cash and short-term investments, a net cash position of $360.2 million. It returned $917.4 million to shareholders: $0 in dividends and $917.4 million in share buybacks, 135% of free cash flow. The share count fell 18.7% from 36.3M to 29.5M over 9 years.
See the MEDP income statement, the MEDP chart for price history, or the MEDP stock overview for the latest quote and news.
MEDP key metrics FAQ
What is Medpace's P/E ratio?
Medpace's trailing P/E ratio is 36.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 31.9. At the end of fiscal 2025 it was 36.8, compared with a 10-year median of 35.3.
What is Medpace's EV/EBITDA?
Medpace's enterprise value was 28.4 times EBITDA at the end of fiscal 2025 (enterprise value $16.2 billion, EBITDA $570.5 million); the current EV/EBITDA is 27.6.
What is Medpace's return on equity?
Medpace's return on equity (ROE) was 70.2% in fiscal 2025: net income of $451.1 million on average shareholders' equity of $642.3 million.
What is Medpace's ROIC?
Medpace's return on invested capital was 220.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Medpace have?
Medpace had total debt of $136.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.30 and more cash than debt.
Does Medpace buy back its shares?
Yes. Medpace spent $917.4 million on net share repurchases in fiscal 2025 Shares outstanding changed −7.8% over the year, to 29.5M..
What is Medpace's free cash flow yield?
Medpace generated $681.9 million of free cash flow in fiscal 2025, a free cash flow yield of 4.1% on its market value at year-end ($16.6 billion).
What is Medpace's current ratio?
Medpace's current ratio was 0.74 at the end of fiscal 2025: current assets were 0.74 times current liabilities.