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Medpace Holdings, Inc. MEDP Direct Costs — Total direct costs

Other product segments

Reimbursable Out of Pocket Costs
$303.14M+27.7%

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Other financials

Income statement

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Revenue$707.3M+17.2%
Operating income$146.8M+16.2%
Net income$121.4M+34.5%
EPS (diluted)$4.25+37.1%

Balance sheet

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Cash & equivalents$502.7M+985%
Total debt$144.1M-3.8%
Total equity$433.9M+152%
Total assets$2.1B+30.9%

Cash flow

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Operating cash flow$162.0M+9.1%
CapEx$23.9M+291%
Free cash flow$138.1M-3.0%

Valuation

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Market cap$16.41B+35.7%
Enterprise value$16.05B+31.6%
P/E33.4×+4.5×
P/S5.9×+0.5×

Profitability

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Operating margin21%-0.4pp
Net margin17.7%-1.1pp
FCF margin25.4%-0.6pp

Returns & leverage

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Return on equity162.2%+72.8pp
Debt / equity0.3×-0.5×
Current ratio0.7×+0.3×

Where this comes from

Reported directly by Medpace Holdings, Inc. in its filing.

Tagged under the XBRL concept us-gaap:DirectOperatingCosts.

The source filing: Medpace Holdings, Inc.’s 10-Q, filed July 23, 2026.

Filed
Jul 23, 2026, 4:03 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001668397-26-000025
(Amounts in thousands, except per share amounts)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Revenue, net (includes $4.7 million and $16.9 million with related parties for the three months ended June 30, 2026 and 2025, respectively, and $12.0 million and $30.7 million with related parties for the six months ended June 30, 2026 and 2025, respectively)$707,331$603,311$1,413,935$1,161,881
Operating expenses:
Direct service costs, excluding depreciation and amortization202,555185,826400,829363,642
Reimbursed out-of-pocket expenses303,139237,472615,143439,876
Total direct costs505,694423,2981,015,972803,518
Selling, general and administrative48,10346,66496,020104,561
Depreciation6,5556,77713,30613,471
Amortization155237310473

Item 1. Financial Statements (unaudited)

FAQ

What is Medpace Holdings, Inc.'s direct costs — total direct costs?
Medpace Holdings, Inc. (MEDP) reported direct costs — total direct costs of $202.56M in Q2 2026.
How has Medpace Holdings, Inc.'s direct costs — total direct costs changed year-over-year?
Medpace Holdings, Inc.'s direct costs — total direct costs increased by 9.0% year-over-year, from $185.83M to $202.56M.
What is the long-term trend for Medpace Holdings, Inc.'s direct costs — total direct costs?
Over 4 years (2021 to 2025), Medpace Holdings, Inc.'s direct costs — total direct costs has grown at a 13.5% compound annual growth rate (CAGR), from $441.09M to $732.13M.
What does direct costs — total direct costs mean?
This metric represents the aggregate expenses directly attributable to the delivery of clinical research and development services. It encompasses the primary costs required to execute client projects, including personnel, site management, and specialized laboratory activities. Monitoring this total provides visibility into the variable cost structure required to support the company's revenue-generating operations.

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