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 $17.3B against $13.4B — 1.3× the size. Medpace Holdings, Inc. trades at the lower P/E: 35.6× against 257×. 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 257.44 35.59 33.95
P/S 1.60 6.27 4.87
P/B 1.41 40.19 3.12
Price to free cash flow 14.98 24.67 34.02
EV/EBITDA 23.55 27.97 25.20
EV/Sales 1.89 6.14 5.66
Earnings yield 0.39% 2.81% (1.75%)
Free cash flow yield 6.67% 4.05% (0.13%)

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% —
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) 0.78

Dividend

Metric ICLR MEDP Diagnostics & Research median
Dividend yield — — 0.70%
Payout ratio 0.00 0.00 0.00

Size

Metric ICLR MEDP Diagnostics & Research median
Market cap 13.42b 17.32b 2.56b

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