ICON PLC (ICLR) vs Medpace Holdings, Inc. (MEDP)

ICON PLC and Medpace Holdings, Inc. are both Diagnostics & Research companies. Medpace Holdings, Inc. is the larger, with a market value of $17.6B against $13.5B — 1.3× the size. Medpace Holdings, Inc. trades at the lower P/E: 35.6× against 254×. Medpace Holdings, Inc. grew revenue faster over the last twelve months: 24.7% against 3.26%. Medpace Holdings, Inc. has the higher net margin (17.7% vs 0.51%) and the lower return on invested capital (0.00% vs 1.57%). Across the 22 metrics below, Medpace Holdings, Inc. leads on 13 and ICON PLC on 9.

Valuation

Metric ICLR MEDP Diagnostics & Research median
P/E 254.23 35.56 35.56
P/S 1.58 6.26 4.37
P/B 1.39 40.16 3.06
Price to free cash flow 14.80 24.66 35.76
EV/EBITDA 23.30 27.87 24.35
EV/Sales 1.87 6.12 5.51
Earnings yield 0.39% 2.81% (1.89%)
Free cash flow yield 6.76% 4.06% (0.15%)

Profitability

Metric ICLR MEDP Diagnostics & Research median
Gross margin 23.91% 72.35% 50.89%
Operating margin 3.57% 20.97% (8.57%)
Net margin 0.51% 17.67% (6.37%)
Free cash flow margin 10.66% 25.40% 0.00%
Return on equity 0.45% 162.15% (2.92%)
Return on assets 0.26% 27.09% (6.71%)
Return on invested capital 1.57% 0.00% 0.00%

Growth

Metric ICLR MEDP Diagnostics & Research median
Revenue growth (TTM) 3.26% 24.67% 7.69%
EPS growth (last fiscal year) (69.57%) 20.98% 25.92%
Revenue growth, 5-year CAGR 24.15% 22.27% 7.40%
Net income growth, 5-year CAGR (7.15%) 25.50% 0.00%

Health

Metric ICLR MEDP Diagnostics & Research median
Debt to equity 0.36 0.00 0.11
Current ratio 0.95 0.73 2.02
Net debt to EBITDA 3.34 (0.88) 0.70

Dividend

Metric ICLR MEDP Diagnostics & Research median
Dividend yield — — 0.66%
Payout ratio — — 0.20

Size

Metric ICLR MEDP Diagnostics & Research median
Market cap 13.51b 17.55b 2.16b

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