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Medpace Holdings, Inc. MEDP Reimbursed out-of-pocket expenses — Total direct costs

Other product segments

Direct Costs
$198.27M+11.5%

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$11.88M+2.8%
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CBREProject Management — Pass-through costs
$927M+12.1%
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AJGReimbursements
$42M+7.7%
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$963M+6.8%
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AJGRisk Management — Cost Reimbursements
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WTWReimbursed Expenses — Portion Of Revenue
0.3%0.0pp

Other financials

Income statement

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Revenue$706.6M+26.5%
Operating income$141.5M+24.6%
Net income$123.9M+8.1%
EPS (diluted)$4.28+16.6%

Balance sheet

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Cash & equivalents$652.7M+47.9%
Total debt$146.1M-2.8%
Total equity$598.3M+0.8%
Total assets$2.1B+12.2%

Cash flow

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Operating cash flow$151.8M+20.6%
CapEx$6.8M-31.8%
Free cash flow$145.0M+25.1%

Valuation

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Market cap$13.14B+46.8%
Enterprise value$12.64B+45.9%
P/E28.6×+7.0×
P/S4.9×+0.8×

Profitability

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Operating margin21%-0.1pp
Net margin17.2%-2.1pp
FCF margin26.5%+1.5pp

Returns & leverage

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Return on equity77.3%+11.4pp
Debt / equity0.2×0.0×
Current ratio0.8×+0.1×

Where this comes from

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

Tagged under the XBRL concept us-gaap:DirectOperatingCosts.

The official record: Medpace Holdings, Inc.’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Medpace Holdings, Inc.'s reimbursed out-of-pocket expenses — total direct costs?
Medpace Holdings, Inc. (MEDP) reported reimbursed out-of-pocket expenses — total direct costs of $312M in Q1 2026.
How has Medpace Holdings, Inc.'s reimbursed out-of-pocket expenses — total direct costs changed year-over-year?
Medpace Holdings, Inc.'s reimbursed out-of-pocket expenses — total direct costs increased by 54.1% year-over-year, from $202.4M to $312M.
What is the long-term trend for Medpace Holdings, Inc.'s reimbursed out-of-pocket expenses — total direct costs?
Over 4 years (2021 to 2025), Medpace Holdings, Inc.'s reimbursed out-of-pocket expenses — total direct costs has grown at a 29.1% compound annual growth rate (CAGR), from $373.13M to $1.04B.
What does reimbursed out-of-pocket expenses — total direct costs mean?
The total amount of project-related expenses paid by the company that are subsequently billed back to clients for reimbursement.
How do you interpret reimbursed out-of-pocket expenses — total direct costs?
An increase in these costs generally reflects higher clinical trial activity and project volume, while a decrease may indicate lower trial intensity or improved cost-containment measures on pass-through items.
How does reimbursed out-of-pocket expenses — total direct costs compare across companies?
Most contract research organizations report similar pass-through cost categories, though the accounting treatment of these expenses as revenue versus cost can vary significantly across the industry.