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 $17.8B against $15.1B — 1.2× the size. ICON PLC trades at the lower P/E: 34.9× against 35.5×. Medpace Holdings, Inc. grew revenue faster over the last twelve months: 20.4% against 1.82%. Medpace Holdings, Inc. has the higher net margin (18.2% vs 5.45%) and the lower return on invested capital (0.00% vs 3.84%). Across the 22 metrics below, ICON PLC leads on 11 and Medpace Holdings, Inc. on 11.

Valuation

Metric ICLR MEDP Diagnostics & Research median
P/E 34.94 35.51 35.23
P/S 1.91 6.42 4.08
P/B 1.72 31.14 3.45
Price to free cash flow 18.34 27.29 33.72
EV/EBITDA 18.05 27.78 25.01
EV/Sales 2.38 6.21 5.20
Earnings yield 2.86% 2.82% (1.47%)
Free cash flow yield 5.45% 3.66% 0.00%

Profitability

Metric ICLR MEDP Diagnostics & Research median
Gross margin 23.43% 72.24% 48.32%
Operating margin 8.72% 21.39% (5.68%)
Net margin 5.45% 18.24% (4.10%)
Free cash flow margin 10.41% 23.52% 0.00%
Return on equity 4.86% 117.88% 0.00%
Return on assets 2.74% 25.54% (6.05%)
Return on invested capital 3.84% 0.00% 0.00%

Growth

Metric ICLR MEDP Diagnostics & Research median
Revenue growth (TTM) 1.82% 20.35% 9.15%
EPS growth (last fiscal year) (67.42%) 20.98% 20.36%
Revenue growth, 5-year CAGR 24.15% 22.27% 7.30%
Net income growth, 5-year CAGR (7.15%) 25.50% 0.00%

Health

Metric ICLR MEDP Diagnostics & Research median
Debt to equity 0.37 0.00 0.04
Current ratio 1.32 0.83 2.27
Net debt to EBITDA 3.34 (0.88) 0.68

Dividend

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

Size

Metric ICLR MEDP Diagnostics & Research median
Market cap 15.11b 17.76b 1.93b

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