Latest Ratios: P/E Ratio 36.5x · EV/EBITDA 27.8x · ROE 70.2%. (2014–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $15.9B | $16.6B | $10.6B | $9.8B | $7.2B | $8.2B | $5.2B | $3.2B | $2.0B | $1.4B | $1.3B |
| Enterprise Value | $15.7B | $16.3B | $10.1B | $9.7B | $7.3B | $7.9B | $5.1B | $3.1B | $2.0B | $1.6B | $1.4B |
| P/E Ratio → | 36.49 | 36.76 | 26.30 | 34.52 | 29.18 | 45.25 | 36.25 | 31.48 | 26.87 | 37.00 | 97.49 |
| P/S Ratio | 6.29 | 6.55 | 5.04 | 5.18 | 4.90 | 7.18 | 5.67 | 3.67 | 2.77 | 3.31 | 3.11 |
| P/B Ratio | 35.86 | 36.12 | 12.88 | 17.46 | 18.51 | 8.61 | 6.51 | 4.35 | 3.31 | 2.87 | 2.15 |
| P/FCF | 23.35 | 24.32 | 18.59 | 24.60 | 20.37 | 34.90 | 23.09 | 17.17 | 13.90 | 16.98 | 16.76 |
| P/OCF | 22.33 | 23.25 | 17.47 | 22.52 | 18.43 | 31.16 | 20.29 | 15.65 | 12.48 | 14.83 | 14.28 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.46 | 4.80 | 5.12 | 5.01 | 6.89 | 5.49 | 3.57 | 2.85 | 3.76 | 3.41 |
| EV / EBITDA | 27.84 | 29.02 | 21.25 | 26.59 | 24.29 | 35.83 | 27.26 | 20.42 | 14.37 | 14.73 | 12.99 |
| EV / EBIT | 29.31 | 30.12 | 22.64 | 28.67 | 26.24 | 39.64 | 30.45 | 24.14 | 19.89 | 25.42 | 34.76 |
| EV / FCF | — | 23.96 | 17.68 | 24.34 | 20.82 | 33.50 | 22.37 | 16.70 | 14.30 | 19.27 | 18.38 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.1% | 30.1% | 31.1% | 27.8% | 29.6% | 28.7% | 30.1% | 28.5% | 30.6% | 40.1% | 40.8% |
| Operating Margin | 21.1% | 21.1% | 21.2% | 17.9% | 19.1% | 17.4% | 18.0% | 14.8% | 14.3% | 14.9% | 12.5% |
| Net Profit Margin | 17.8% | 17.8% | 19.2% | 15.0% | 16.8% | 15.9% | 15.7% | 11.7% | 10.4% | 9.0% | 3.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 70.2% | 70.2% | 58.4% | 59.8% | 36.6% | 20.7% | 19.0% | 15.3% | 13.4% | 7.0% | 2.6% |
| ROA | 22.1% | 22.1% | 21.5% | 18.8% | 16.3% | 11.9% | 11.5% | 9.5% | 7.6% | 4.1% | 1.4% |
| ROIC | 154.9% | 154.9% | 88.1% | 50.4% | 35.7% | 23.5% | 19.5% | 14.8% | 11.3% | 6.8% | 5.2% |
| ROCE | 65.7% | 65.7% | 51.7% | 52.6% | 33.7% | 19.3% | 19.1% | 16.8% | 13.8% | 8.3% | 6.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.55 | 0.55 | 0.18 | 0.25 | 0.49 | 0.14 | 0.14 | 0.06 | 0.14 | 0.44 | 0.27 |
| Debt / EBITDA | 0.44 | 0.44 | 0.31 | 0.39 | 0.63 | 0.60 | 0.62 | 0.30 | 0.57 | 1.99 | 1.48 |
| Net Debt / Equity | — | -0.54 | -0.63 | -0.18 | 0.42 | -0.35 | -0.20 | -0.12 | 0.10 | 0.39 | 0.21 |
| Net Debt / EBITDA | -0.44 | -0.44 | -1.09 | -0.28 | 0.53 | -1.50 | -0.87 | -0.58 | 0.40 | 1.75 | 1.14 |
| Debt / FCF | — | -0.36 | -0.91 | -0.26 | 0.46 | -1.41 | -0.72 | -0.47 | 0.40 | 2.29 | 1.62 |
| Interest Coverage | — | — | — | 690.22 | 95.94 | 1891.57 | — | 81.16 | 12.39 | 8.53 | 2.13 |
Net cash position: cash ($497M) exceeds total debt ($250M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.74 | 0.74 | 0.93 | 0.64 | 0.42 | 1.24 | 1.08 | 0.92 | 0.69 | 0.67 | 0.79 |
| Quick Ratio | 0.74 | 0.74 | 0.93 | 0.64 | 0.42 | 1.24 | 1.08 | 0.92 | 0.69 | 0.67 | 0.79 |
| Cash Ratio | 0.37 | 0.37 | 0.61 | 0.27 | 0.04 | 0.83 | 0.63 | 0.38 | 0.09 | 0.14 | 0.22 |
| Asset Turnover | — | 1.28 | 1.00 | 1.14 | 1.08 | 0.69 | 0.67 | 0.75 | 0.73 | 0.46 | 0.43 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 69865.57 | 37351.86 | 809.97 |
| Days Sales Outstanding | — | 58.00 | 51.30 | 57.75 | 63.35 | 59.57 | 63.45 | 65.99 | 69.13 | 69.53 | 69.06 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.7% | 2.7% | 3.8% | 2.9% | 3.4% | 2.2% | 2.8% | 3.2% | 3.7% | 2.7% | 1.0% |
| FCF Yield | 4.3% | 4.1% | 5.4% | 4.1% | 4.9% | 2.9% | 4.3% | 5.8% | 7.2% | 5.9% | 6.0% |
| Buyback Yield | 5.8% | 5.5% | 1.6% | 1.5% | 11.9% | 0.8% | 1.9% | 0.0% | 0.0% | 10.8% | 0.0% |
| Total Shareholder Yield | 5.8% | 5.5% | 1.6% | 1.5% | 11.9% | 0.8% | 1.9% | 0.0% | 0.0% | 10.8% | 0.0% |
| Shares Outstanding | — | $30M | $32M | $32M | $34M | $38M | $38M | $38M | $37M | $40M | $36M |
Biotech funding cycle sensitivity
Based on current market data, MEDP trades at a forward P/E of 31.02, which, when compared to the broader CRO peer group, suggests investors are pricing in a sustained premium for the company's superior organic growth profile and lack of dilutive M&A activity.
The current PEG ratio of 1.08 indicates that the market is paying a fair price for the company's expected earnings trajectory relative to its historical growth. This valuation appears to be supported by the company's ability to consistently outpace larger, more fragmented competitors in the SME biotech niche.
As reported in recent financial statements, MEDP's ROIC reached 75.7% in 2026Q1, a figure that significantly exceeds industry averages and highlights the company's ability to generate substantial returns on its invested capital through a highly efficient, centralized operational model.
The upward trend in ROIC from 13.4% in 2023Q4 to current levels suggests that the company is successfully compounding returns by avoiding capital-intensive acquisitions. This performance warrants further investigation into whether such high returns are sustainable as the company scales its service offerings.
According to quarterly filings, MEDP maintains a DSO of approximately 51 days, which, when viewed alongside the company's lean DPO of 6 days, suggests a highly disciplined approach to managing client billing cycles within the volatile SME biotech research market.
The company's ability to maintain consistent asset turnover despite the inherent complexity of clinical trial management implies that its centralized hub model effectively minimizes administrative friction. Investors should monitor whether these efficiency metrics remain stable if the company is forced to expand its client base toward larger, more bureaucratic pharmaceutical firms.
Based on reported figures, MEDP maintains a debt-to-equity ratio of 0.20 as of 2026Q1, a conservative stance that provides the company with significant financial flexibility to navigate potential downturns in the biotechnology funding cycle without the burden of heavy interest obligations.
This low leverage profile contrasts sharply with more acquisitive peers, suggesting that management prioritizes balance sheet health over aggressive debt-funded expansion. The company's ability to maintain this position while simultaneously funding significant share repurchases indicates a robust internal cash generation capability.
The P/E ratio is frequently misapplied to MEDP, as it fails to account for the company's unique organic-only growth strategy and the absence of non-recurring charges that often distort the earnings of larger, M&A-heavy CRO competitors in the diagnostics and research industry.
Investors should instead focus on EV/EBITDA or FCF-based multiples to better capture the company's true operational cash generation power. Relying solely on P/E may lead to an underestimation of the company's intrinsic value, as it ignores the structural margin advantages inherent in the centralized service model.
Includes 30+ ratios · 12 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying MEDP stock.
Medpace Holdings, Inc.'s current P/E ratio is 36.5x. The historical average is 40.1x. This places it at the 60th percentile of its historical range.
Medpace Holdings, Inc.'s current EV/EBITDA is 27.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.7x.
Medpace Holdings, Inc.'s return on equity (ROE) is 70.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 24.8%.
Based on historical data, Medpace Holdings, Inc. is trading at a P/E of 36.5x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Medpace Holdings, Inc. has 30.1% gross margin and 21.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Medpace Holdings, Inc.'s Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.