Medpace Holdings Inc. reported fourth quarter (Q4) 2025 revenue of USD 708.5 million, an increase of 32.0%. Net income attributable to shareholders for Q4 2025 was USD 135.1 million, with diluted earnings per share at USD 4.67. The net income margin for the period was 19.1%. EBITDA reached USD 160.2 million for Q4 2025, representing an increase of 20.0% and an EBITDA margin of 22.6%. Net new business awards in Q4 2025 totaled USD 736.6 million, up 39.1%, resulting in a net book-to-bill ratio of 1.04x. Backlog as of December 31, 2025 stood at USD 3.03 billion, an increase of 4.3%. Medpace highlighted that the backlog conversion rate for the quarter was 23.6%. The company uses EBITDA and EBITDA margin as key metrics for evaluating operating performance and incentive planning.

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