Medpace (MEDP) financial statements
Medpace reported revenue of $2.5B in fiscal 2025, up 22.0% a year over 9 years.
Net income was $451M and the operating margin 21.1%, against 12.5% in 2016.
Free cash flow was $682M, and the company returned $917M in net buybacks.
The diluted share count fell 19% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Medpace's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $422M | $436M | $705M | $861M | $926M | $1.1B | $1.5B | $1.9B | $2.1B | $2.5B |
| Selling, general and admin | $62M | $63M | $76M | $95M | $92M | $108M | $131M | $161M | $180M | $198M |
| Operating income | $52M | $65M | $101M | $127M | $167M | $199M | $279M | $337M | $447M | $535M |
| Pre-tax income | $22M | $57M | $94M | $125M | $169M | $202M | $283M | $336M | $476M | $542M |
| Income tax | $9M | $18M | $21M | $24M | $23M | $20M | $37M | $53M | $72M | $91M |
| Net income | $13M | $39M | $73M | $100M | $145M | $182M | $245M | $283M | $404M | $451M |
| EPS (diluted) | $0.37 | $0.98 | $1.97 | $2.67 | $3.84 | $4.81 | $7.28 | $8.88 | $12.63 | $15.28 |
| Diluted shares | 36M | 40M | 37M | 38M | 38M | 38M | 34M | 32M | 32M | 30M |
| Operating margin | 12.5% | 14.9% | 14.3% | 14.8% | 18.0% | 17.4% | 19.1% | 17.9% | 21.2% | 21.1% |
| Net margin | 3.2% | 9.0% | 10.4% | 11.7% | 15.7% | 15.9% | 16.8% | 15.0% | 19.2% | 17.8% |
Balance sheet
Fiscal years, from Medpace's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $37M | $26M | $23M | $132M | $278M | $461M | $28M | $245M | $669M | $497M |
| Receivables | $80M | $83M | $133M | $156M | $161M | $186M | $253M | $298M | $296M | $402M |
| Total current assets | $133M | $130M | $178M | $317M | $474M | $691M | $334M | $594M | $1.0B | $990M |
| Property, plant and equipment | $44M | $49M | $52M | $47M | $85M | $93M | $110M | $121M | $124M | $131M |
| Goodwill | $661M | $661M | $661M | $662M | $662M | $662M | $662M | $662M | $662M | $662M |
| Total assets | $979M | $951M | $968M | $1.1B | $1.4B | $1.7B | $1.4B | $1.7B | $2.1B | $2.0B |
| Total current liabilities | $169M | $193M | $257M | $343M | $440M | $557M | $803M | $925M | $1.1B | $1.3B |
| Long-term debt | $151M | $205M | $80M | $0 | — | — | — | — | — | — |
| Total liabilities | $368M | $447M | $378M | $417M | $585M | $707M | $966M | $1.1B | $1.3B | $1.5B |
| Shareholders' equity | $611M | $509M | $599M | $726M | $806M | $953M | $386M | $559M | $826M | $459M |
| Net debt | $127M | $195M | $56M | -$132M | -$278M | -$461M | -$28M | -$245M | -$669M | -$497M |
Cash flow
Fiscal years, from Medpace's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $92M | $97M | $157M | $202M | $259M | $263M | $388M | $433M | $609M | $713M |
| Capital spending | $14M | $12M | $16M | $18M | $31M | $28M | $37M | $37M | $37M | $31M |
| Free cash flow | $78M | $86M | $141M | $184M | $227M | $235M | $351M | $397M | $572M | $682M |
| Stock-based compensation | $10M | $4M | $6M | $21M | $14M | $14M | $21M | $21M | $26M | $35M |
| Share buybacks (net) | $0 | -$156M | $0 | $0 | -$98M | -$62M | -$848M | -$144M | -$170M | -$917M |
| Net borrowing | -$226M | -$12M | -$72M | -$80M | $0 | $0 | — | — | — | — |
| Free cash flow margin | 18.5% | 19.6% | 19.9% | 21.4% | 24.6% | 20.6% | 24.1% | 21.0% | 27.1% | 26.9% |
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Open MEDP in InvestinglyQuestions
What was Medpace's revenue in 2025?
$2.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Medpace generate?
$682M in fiscal 2025 (operating cash flow minus capital spending).
From Medpace's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.