Clinical research firm Medpace Q3 revenue beats estimates on growth in net new business awards

Medpace Holdings

22/10/2025 21:44

Overview

Medpace Q3 revenue grows 23.7% yr/yr, beating analyst expectations

Net income for Q3 rises, but net income margin decreases compared to last year

Company repurchased 14,649 shares for $4.5 mln in Q3 2025

Outlook

Medpace forecasts 2025 revenue between $2.480 bln and $2.530 bln

Medpace expects 2025 GAAP net income between $431 mln and $439 mln

Medpace anticipates 2025 EBITDA between $545 mln and $555 mln

Result Drivers

NET NEW BUSINESS AWARDS - Medpace reports a 47.9% increase in net new business awards, contributing to revenue growth

BACKLOG CONVERSION - Co achieved a backlog conversion rate of 23.0%, supporting revenue growth

NET BOOK-TO-BILL RATIO - Medpace maintains a net book-to-bill ratio of 1.20x, indicating strong demand

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$659.90 mln
$640.99 mln (9 Analysts)
Q3 EPS
$3.86
Q3 Net Income
$111.13 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 8 "hold" and 3 "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy."

Wall Street's median 12-month price target for Medpace Holdings Inc is $450.00, about 21.3% below its October 21 closing price of $545.64

The stock recently traded at 36 times the next 12-month earnings vs. a P/E of 24 three months ago

Press Release: ID:nBw6B8wHVa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)