Medpace Holdings Inc. Common Stock (MEDP)

FairStock Score: 69/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn high returns on capital and do not need much debt. Medpace partly fits: it supplies clinical research services to pharmaceutical, biotech, and device companies, with 6,500 employees and work spanning Phase I to Phase IV. FairStock's calculations show ROE of 162.15% and ROCE of 20.10%, with debt/equity of 0.33. Its Piotroski F-score is 7/9 and Altman Z-score is 6.30, so the balance sheet looks sound. Growth is real in the filed figures: in fiscal year 2023, revenue was $1.9B, net income $282.8M, and diluted EPS $8.88; in fiscal year 2024, revenue was $2.1B, net income $404.4M, and diluted EPS $12.63; in fiscal year 2025, revenue was $2.5B, net income $451.1M, and diluted EPS $15.28. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $707.3M, net income $121.4M, and diluted EPS $4.25, versus fiscal Q2 2025, the quarter ended 2025-06-30, revenue of $603.3M, net income of $90.3M, and diluted EPS of $3.10. Free cash flow is $706.7M, a 4.2% FCF yield. But valuation is demanding: at the 2026-10-13 close of $609.89, FairStock shows P/E 35.83, P/B 39.25, EV/EBITDA 27.23, and PEG 1.04. The Graham Number is $77.14, a negative margin of safety. This is a high-quality fast grower, but not a Graham bargain. I would need continued earnings execution to justify the premium.

In plain English: Medpace helps drug, biotech, and medical device companies run clinical trials. The business looks strong: sales, profits, and cash generation are growing, and debt is low. But at $609.89 a share, the price looks expensive compared with the company's current profits and accounting value.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer