MEDP
Medpace Holdings, Inc.
MEDP's fundamentals are strong: revenue grew 20% and it turned 24% of its revenue into free cash flow. At 36x earnings, it's trading in line with its usual 34x. Analysts expect earnings growth.
MEDP Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Strong |
MEDP's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
MEDP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 27x | $493 | -25% |
| Fair | 34x | $611 | -7% |
| Forward | 34x | $657 | — |
| Current | 36x | $657 | — |
| Expensive | 42x | $748 | +14% |
Historical ranges are pointers, not guarantees.
MEDP's PE is in its fair range at 36x. If earnings grow as analysts expect, today's price would be 34x next year's earnings.
MEDP Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for MEDP, with profitability improving.
MEDP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $19.28 | +7% |
| Q3 2026 | $18.02 | +26% |
| Q2 2026 | $17.04 | +27% |
| Q1 2026 | $15.89 | +21% |
| Q4 2025 | $15.28 | +21% |
| Q3 2025 | $14.30 | +25% |
| Q2 2025 | $13.45 | +27% |
| Q1 2025 | $13.10 | +34% |
| Q4 2024 | $12.63 | +42% |
MEDP's earnings per share have climbed steadily: $18.02 over the past year, up 26% from the year before, and higher year over year every quarter since late 2020.
MEDP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $716M | +8.5% |
| Q2 2026 | $707.3M | +17% |
| Q1 2026 | $706.6M | +27% |
| Q4 2025 | $708.5M | +32% |
| Q3 2025 | $659.9M | +24% |
| Q2 2025 | $603.3M | +14% |
| Q1 2025 | $558.6M | +9.3% |
| Q4 2024 | $536.6M | +7.7% |
MEDP's revenue has grown year over year every quarter since late 2020: $716M last quarter, up 8.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +1.6 points |
| Q2 2026 | 21% | -0.2 points |
| Q1 2026 | 20% | -0.3 points |
| Q4 2025 | 22% | -1.7 points |
| Q3 2025 | 21% | +0.4 points |
| Q2 2025 | 21% | +1 points |
| Q1 2025 | 20% | 0 points |
| Q4 2024 | 23% | +5.9 points |
MEDP's operating margin was 23% last quarter, up 1.6 points from the same quarter a year ago, near the top of its range since 2019.
MEDP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $196.4M | -17% |
| Q2 2026 | $138.1M | -3% |
| Q1 2026 | $145M | +25% |
| Q4 2025 | $188.1M | +2.8% |
| Q3 2025 | $235.5M | +70% |
| Q2 2025 | $142.4M | +38% |
| Q1 2025 | $115.8M | -21% |
| Q4 2024 | $183M | +25% |
MEDP's free cash flow has been positive every quarter for seven years: $668M over the past year, down 1.4% from the year before.
MEDP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -182K shares |
| 1 year | -1.5% | -445K shares |
| 3 years | -11% | -3.4M shares |
| 5 years | -24% | -9.1M shares |
| Available history | -24% | -9.2M shares |
MEDP has 28M diluted shares, down 1.5% from a year ago, with $295M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $294.8M |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $4.6M |
| Q2 2025 | $540.9M |
| Q1 2025 | $371.9M |
| Q4 2024 | $169.9M |
MEDP spent $295M buying back its own shares over the past year, down 73% from the year before.
MEDP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.1x | Net Cash |
| Q2 2026 | -0.8x | Net Cash |
| Q1 2026 | -1.1x | Net Cash |
| Q4 2025 | -0.9x | Net Cash |
| Q3 2025 | -0.5x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.9x | Net Cash |
| Q4 2024 | -1.4x | Net Cash |
MEDP has more cash than debt.
MEDP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.0 | Neutral |
| Stochastic | 68.8 | Neutral |
MEDP's weekly RSI is 65 (neutral) and its Stochastic is 69 (neutral).
MEDP PE vs Healthcare Sector
| Metric | MEDP | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 26x | 41% above |
| PE % | 65 | 29 | 36 pts above |
MEDP is trading at 36x earnings, a 41% premium to the Healthcare sector's median of 26x.
MEDP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $635.0 | 3.4% above |
| 20 week MA | $603.7 | 8.8% above |
| 50 week MA | $538.6 | 22% above |
| 100 week MA | $466.3 | 41% above |
| 200 week MA | $384.2 | 71% above |
MEDP is in an uptrend: it's above all five of its weekly moving averages, and 71% above its 200-week average.
MEDP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $83.7 | $139.1 | +66% |
| 2021 | $139.1 | $223.4 | +61% |
| 2022 | $223.4 | $212.7 | -4.8% |
| 2023 | $212.7 | $306.5 | +44% |
| 2024 | $306.5 | $341.1 | +11% |
| 2025 | $341.1 | $567.6 | +66% |
| 2026 YTD | $567.6 | $656.8 | +16% |
MEDP has finished higher in five of the last six years, three of them by more than 50%. It's up 16% so far in 2026.