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Medpace Holdings (MEDP) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 22, 2026 · Medpace Holdings (MEDP) Q3 2026 earnings results →

Q3 2026 Revenue up 8% year over year to $716M · 19¢ of every $1 of revenue kept as net profit · operating margin 23.1%

Medpace Holdings made $716M in Q3 2026 (+8% Y/Y): Metabolic $230M, Other $209M, Oncology $100M. Operating margin 23.1%, net earnings $137M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 22, 2026.

Revenue$716M

Year over year+8%

Operating margin23.1%

Net earnings$137M

Operating cash flow$217M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $716.0M in Q3 2026, up 9% year over year and up 1% from the previous quarter. Metabolic was the largest line at 32% of revenue. Metabolic added $37.3M year over year (up 19%), 66% of the total change. AVAI declined 13%.

Operating profit was $165.5M, a 23.1% margin (up 1.6 points year over year). Of the extra revenue versus Q3 2025, 42% reached operating profit, above the 21% margin then. Total costs grew 6% against revenue growth of 9%. Net earnings were $137.5M, up 24% year over year. The effective tax rate was 19.6%.

Operating cash flow was $216.6M (down 12% year over year), 158% of net earnings. Non-cash charges added back $6.6M of depreciation and amortization and $7.6M of share-based compensation. Working capital and other items added $65.0M. Capital expenditures of $20.2M left free cash flow of $196.4M.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q3 2026	10-Q	Oct 22, 2026	$716M	+8%	23.1%	$137M	$217M
Q2 2026	10-Q	Jul 23, 2026	$707M	+17%	20.8%	$121M	$162M
Q1 2026	10-Q	Apr 23, 2026	$707M	+26%	20.0%	$124M	$152M
Q4 2025	10-K	Feb 10, 2026	$708M	+32%	21.6%	$135M	$193M
Q3 2025	10-Q	Oct 23, 2025	$660M	+24%	21.5%	$111M	$246M
Q2 2025	10-Q	Jul 22, 2025	$603M	+14%	20.9%	$90.3M	$149M
Q1 2025	10-Q	Apr 22, 2025	$559M	+9%	20.3%	$115M	$126M

Charts

Latest (Q3 2026): Y/Y +8%, Q/Q +1%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q3 2026): Net income $137M, Operating cash flow $217M.

-21.7% since FY2020: buybacks shrank the count.

Services-Commercial Physical & Biological Research; dot size is quarterly revenue; dashed lines are the industry's medians.