Medpace Holdings, Inc.
MEDP 6Price and target zones价格与目标区间
What the company does公司做什么
Medpace Holdings, Inc. provides clinical research-based drug and medical device development services in North America, Europe, Asia, South America, Africa, and Australia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas.
It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.
In addition, the company offers bio-analytical laboratory services, clinical human pharmacology, imaging services, and electrocardiography reading support for clinical trials.
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Medpace Holdings, Inc. provides clinical research-based drug and medical device development services in North America, Europe, Asia, South America, Africa, and Australia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services. In addition, the company offers bio-analytical laboratory services, clinical human pharmacology, imaging services, and electrocardiography reading support for clinical trials. Medpace Holdings, Inc. was founded in 1992 and is based in Cincinnati, Ohio.
Company facts公司资料
- Founded成立时间
- 1992
- Employees员工人数
- 6,500
- Industry行业
- Diagnostics & Research
- Country国家
- United States
Investment thesis投资逻辑 from the watchlist来自关注列表
⚪ ANALYZED 9/10 — WATCH. CRO, 58% ROIC, net cash, −7.7%/yr float — beats LHX/PCTY/IBM on quality but ABOVE zone (entry $422-475) and capped by live fraud litigation (Durbin v. Medpace — book-to-bill overselling). FV $460-560. Trim 30x fwd.
Historical results历史业绩 past fiscal years — these values do not change过去财年——这些数值不会变动
Profit margins利润率 the share of revenue that stays as profit营收中留存为利润的比例
of every $1 of revenue每 $1 营收中的占比
- Return on equity净资产收益率
- 162%
- Revenue growth营收增长
- +17%
Competitive advantages竞争优势 from the thesis and the reports来自投资逻辑和报告
- That is a real switching cost — Morningstar rates it a narrow moat built on intangible therapeutic expertise and switching costs — and the ROIC gap to IQVIA is the receipt.
- Not an near-term threat to Medpace specifically, but not a moat defense either — nobody in the field has answered it yet.
- Tension worth naming explicitly Fundamentals + Moat argue for a strong BUY-tier business (20%+ growth, 58% ROIC, net cash, real niche switching costs).
- Sentiment + Valuation argue for caution: an unresolved securities-fraud suit about the exact metric the moat case leans on, continued heavy insider selling into the recovery, demonstrated 82%-off-the-low volatility, and a price that is already through the trim ceiling on the company's own guidance.
- LHX has no asset floor either (tangible book −$30.6/share) but pairs that with decelerating growth (9.5%→7.1%→2.3%) and an unresolved board-governance question around a for-cause firing; PCTY and IBM are both mid-single-digit-growth, margin-defense stories with softening retention/dividend metrics.