MEDPMedpace Holdings, Inc.
Is the business good?
A genuinely good business: earnings fully cash-backed (1.4×), margins widening, and elite returns on assets.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Profits are tracking sales roughly one-for-one, limited operating leverage either way.
High-quality, exceptional returns on the assets themselves, not leverage. ROE 94% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is MEDP?
Medpace Holdings, Inc. keeps 21% of every revenue dollar as operating profit, against 3.6% for the median Diagnostics & Research name.
Operating margin · Diagnostics & Research median 3.6% · 12 months to Q3 2026
- Cash conversion
- 1.44×
Cash conversion · 1.68× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −1.5%
Share count, year on year · bought back, each share owns more of the company
- Gross margin
- 29%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 18% |
| FY2021 | 17% |
| FY2022 | 19% |
| FY2023 | 18% |
| FY2024 | 21% |
| FY2025 | 21% |
Details›
- Gross margin12 months to Q3 2026
- 29%
- Operating margin12 months to Q3 2026
- 21%
- Net margin12 months to Q3 2026
- 18%
- Free cash flow margin
- 24%
- Revenue, trailing twelve months
- $2.84B
- Free cash flow, trailing twelve months
- $668M
- Net income, trailing twelve months
- $518M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Diagnostics & Research
Ranks #1 of 21 by RyuScore