Filing Flows › Medpace Holdings (MEDP) › Q4 2025
Medpace Holdings (MEDP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 10, 2026
Medpace Holdings (MEDP) reported revenue of $708M for the fourth quarter 2025 (Q4 2025), +32% from a year earlier and +7% from the quarter before. Operating margin was 21.6%, net earnings $135M (19.1% of revenue).
Medpace Holdings, Q4 2025: revenue $708M (+32% year over year), operating margin 21.6%, net earnings $135M, operating cash flow $193M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $708M | +7% | +32% |
| Operating profit | $153M | +8% | +22% |
| Net earnings | $135M | +22% | +15% |
| Operating cash flow | $193M | -22% | +1% |
| Free cash flow | $188M | -20% | +3% |
What changed
Revenue was $708.5M in Q4 2025, up 32% year over year and up 7% from the previous quarter. Other was the largest line at 35% of revenue.
Operating profit was $153.3M, a 21.6% margin (down 1.7 points year over year). Of the extra revenue versus a year earlier, 16% reached operating profit, below the 23% margin then. Total costs grew 35% against revenue growth of 32%. The fastest-growing cost line was Other operating costs (+40%). Net earnings were $135.1M, up 15% year over year. The effective tax rate was 13.8%.
Operating cash flow was $192.7M (up 1% year over year), 143% of net earnings. Non-cash charges added back $7.1M of depreciation and amortization and $5.6M of share-based compensation. Working capital and other items added $44.8M. Capital expenditures of $4.5M left free cash flow of $188.1M.
Questions
What was Medpace Holdings' revenue in the fourth quarter 2025?
Medpace Holdings (MEDP) reported revenue of $708M for the fourth quarter 2025 (Q4 2025), +32% from a year earlier and +7% from the quarter before.
Was Medpace Holdings profitable in the fourth quarter 2025?
Operating profit was $153M (21.6% of revenue) and net earnings $135M.
Source: Medpace Holdings 10-K on SEC EDGAR.