For most investors, how much a stock's price changes over time is important. Not only can it impact your investment portfolio, but it can also help you compare investment results across sectors and industries.
Another thing that can drive investing is the fear of missing out, or FOMO. This particularly applies to tech giants and popular consumer-facing stocks.
What if you'd invested in Medpace (MEDP) ten years ago? It may not have been easy to hold on to MEDP for all that time, but if you did, how much would your investment be worth today?
Medpace's Business In-Depth
With that in mind, let's take a look at Medpace's main business drivers.
Medpace Holdings, Inc. is a global clinical contract research organization (CRO) delivering full-service Phase I-IV drug and device development support, including protocol and project management, regulatory affairs, clinical monitoring, data management/analysis, pharmacovigilance, submission support, and specialized services such as bioanalytical labs and medical imaging. The company is headquartered in Cincinnati, OH, and employed approximately 6,500 people across 46 countries as of June 30, 2026.
The firm serves all major therapeutic areas with particular depth in Oncology, Metabolic Disease, Cardiology, Central Nervous System (“CNS”), and Antiviral and Anti-infective work. Its operations are principally based in North America, Europe and Asia. Medpace uses a centralized operating model, proprietary technology and local regulatory expertise to support consistent study execution.
The company reports a single operating segment because its full-service platform is managed and evaluated on a consolidated basis. Net revenue was $2.5 billion in fiscal 2025, up roughly 20% year over year from 2024.
The United States accounted for roughly 99% of consolidated revenues in fiscal 2025 based on contracting entity location. Client mix remains concentrated in small biopharma and mid-sized biopharma, which represented 82% and 13% of fiscal 2025 net revenues, respectively.
Commercial metrics include net new business awards, cancellations, backlog, and backlog conversion. Net new business awards were $2.6 billion in fiscal 2025 versus $2.2 billion in 2024. Backlog represents anticipated future net revenue from awarded work that has not started or is in process but not complete. It is affected by new awards, scope changes, cancellations, revenue recognition, and foreign exchange. Approximately $1.9 billion of the December 31, 2025 backlog was expected to convert to revenue in 2026.
Bottom Line
Putting together a successful investment portfolio takes a combination of research, patience, and a little bit of risk. For Medpace, if you bought shares a decade ago, you're likely feeling really good about your investment today.
According to our calculations, a $1000 investment made in August 2016 would be worth $21,788.41, or a gain of 2,078.84%, as of August 12, 2026, and this return excludes dividends but includes price increases.
The S&P 500 rose 253.57% and the price of gold increased 211.89% over the same time frame in comparison.
Looking ahead, analysts are expecting more upside for MEDP.
Medpace's full-service model supports dependable margins and cash generation despite shifting therapeutic mix. Record second-quarter bookings, lower cancellations, broader RFP activity and a recovered win rate improve the path to backlog growth and 2027 conversion. Updated guidance reflects steady execution, while liquidity funds hiring and technology investment. Still, much of the bookings improvement came from fewer cancellations, and management cannot predict whether that trend will persist. Initial award notifications eased from the first quarter, metabolic opportunities are moderating, and oncology now represents more than half of recent bookings. High pass-through activity, faster backlog conversion, customer concentration and lags from pre-backlog to revenue keep visibility uneven. These offsets support a Neutral stance.
Shares have gained 12.93% over the past four weeks and there have been 5 higher earnings estimate revisions for fiscal 2026 compared to none lower. The consensus estimate has moved up as well.
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Medpace Holdings, Inc. (MEDP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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