Medpace Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	460.4	451.12	404.39	282.81	245.37	181.85
Depreciation & Amortization	28.1	28.12	29.25	26.33	22.34	21.12
Stock-Based Compensation	22.81	34.79	25.51	20.52	21.41	14.47
Other Adjustments	121.39	102.91	-7.52	-2.77	-7.13	-20.82
Change in Receivables	-96.32	-106.22	2.24	-48.28	-66.92	-24.98
Changes in Accounts Payable	-8.01	2.63	-2.97	1.05	6.43	1.87
Changes in Accrued Expenses	118.94	97.08	16.88	82.08	52.48	26.16
Changes in Unearned Revenue	137.63	143.81	150.73	97.13	118.09	88.98
Changes in Other Operating Activities	-45.77	-41.02	-9.7	-25.49	-4.02	-25.31
Operating Cash Flow	739.18	713.22	608.82	433.37	388.05	263.33
Operating Cash Flow Growth	27.01%	17.15%	40.48%	11.68%	47.36%	1.80%
Capital Expenditures	-28.18	-31.36	-36.55	-36.65	-36.88	-28.27
Other Investing Activities	0.28	0.22	8.24	2.02	-1.86	-3.09
Investing Cash Flow	-27.9	-31.14	-28.31	-34.63	-38.74	-31.36
Short-Term Debt Issued	-	-	-	105	324.2	-
Short-Term Debt Repaid	-	-	-	-155	-274.2	-
Net Short-Term Debt Issued (Repaid)	-	-	-	-50	50	-
Issuance of Common Stock	43.74	57	15.86	11.38	22.07	17.64
Repurchase of Common Stock	-545.49	-917.39	-169.87	-144.02	-847.85	-62.1
Net Common Stock Issued (Repurchased)	-501.75	-860.39	-154.01	-132.64	-825.78	-44.45
Financing Cash Flow	-501.75	-860.39	-154.01	-182.64	-775.78	-44.45
Effect of Exchange Rate Changes on Cash and Cash Equivalents	1.72	5.92	-2.51	1.08	-6.57	-3.97
Net Cash Flow	211.25	-172.39	423.99	217.18	-433.04	183.54
Free Cash Flow	711	681.87	572.27	396.73	351.17	235.06
Free Cash Flow Growth	4.27%	19.15%	44.25%	12.97%	49.40%	3.40%
FCF Margin	26.55%	26.95%	27.13%	21.04%	24.05%	20.58%
Free Cash Flow Per Share	24.54	23.09	17.88	12.46	10.43	6.24
Levered Free Cash Flow	663.12	650.38	552.03	377.26	453.81	266.39
Unlevered Free Cash Flow	655.97	644.19	527.34	428.22	400.19	263.47

Updated Mar 31, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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