Medpace (MEDP)


Market Price (11/8/2026): $653.03 | Market Cap: $18.3 BilSector: Health Care | Industry: Life Sciences Tools & Services

Medpace (MEDP)


Market Price (11/8/2026): $653.03
Market Cap: $18.3 Bil
Sector: Health Care
Industry: Life Sciences Tools & Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%

Stock buyback support
Stock Buyback 3Y Total is 1.4 Bil

Low stock price volatility
Vol 12M is 44%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Biotechnology & Genomics. Themes include Biopharmaceutical R&D, Gene Editing & Therapy, Show more.

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 30x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 25x, P/EPrice/Earnings or Price/(Net Income) is 35x

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.7%

Key risks
MEDP key risks include its high concentration of small and mid-sized biopharmaceutical clients, Show more.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24%
1 Stock buyback support
Stock Buyback 3Y Total is 1.4 Bil
2 Low stock price volatility
Vol 12M is 44%
3 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Biotechnology & Genomics. Themes include Biopharmaceutical R&D, Gene Editing & Therapy, Show more.
4 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 30x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 25x, P/EPrice/Earnings or Price/(Net Income) is 35x
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.7%
6 Key risks
MEDP key risks include its high concentration of small and mid-sized biopharmaceutical clients, Show more.

MEDP in ETFs

Weight = MEDP's share of each fund

VTI0.02%
ITOT0.02%
IWB0.02%
IJH0.43%
VB0.18%
IBB0.99%
MDYG0.88%
NUSC0.86%
+21 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/1/2026

Medpace (MEDP) stock has gained about 15% since 7/31/2026 because of the following key factors:

1. Exceptional Fiscal Q3 2026 Earnings Performance: Medpace reported GAAP diluted earnings per share of $4.84 in fiscal Q3 2026, significantly beating the consensus estimate of $4.44 by 8.5%. This was coupled with an 8.5% year-over-year revenue increase to $716.0 million and an expansion of the EBITDA margin to 24.0% from 22.5% in the comparable prior-year period.

2. Record Net New Business Awards and Robust Backlog Growth: The company achieved record net new business awards of $873.4 million in fiscal Q3 2026, a 10.6% increase year-over-year. This strengthened its ending backlog to approximately $3.2 billion as of September 30, 2026, reflecting a 5.6% increase from the prior year.

Show more
Updated on 11/1/2026

Medpace (MEDP) stock has gained about 15% since 7/31/2026 because of the following key factors:

1. Exceptional Fiscal Q3 2026 Earnings Performance: Medpace reported GAAP diluted earnings per share of $4.84 in fiscal Q3 2026, significantly beating the consensus estimate of $4.44 by 8.5%. This was coupled with an 8.5% year-over-year revenue increase to $716.0 million and an expansion of the EBITDA margin to 24.0% from 22.5% in the comparable prior-year period.

2. Record Net New Business Awards and Robust Backlog Growth: The company achieved record net new business awards of $873.4 million in fiscal Q3 2026, a 10.6% increase year-over-year. This strengthened its ending backlog to approximately $3.2 billion as of September 30, 2026, reflecting a 5.6% increase from the prior year.

3. Upgraded Full-Year 2026 Financial Guidance: Management raised its full-year 2026 outlook, projecting revenue between $2.835 billion and $2.855 billion, indicating 12.0% to 12.8% growth over 2025. Additionally, diluted earnings per share guidance was raised to a range of $17.97 to $18.32, with the midpoint surpassing analyst consensus.

4. New $1.0 Billion Share Repurchase Authorization: Effective October 20, 2026, Medpace's Board of Directors approved a new stock repurchase authorization of up to $1.0 billion, which replaces the previous program and extends through December 31, 2028. This move signals confidence in the company's financial health and can provide support for the stock price.

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Stock Movement Drivers

Fundamental Drivers

The 13.2% change in MEDP stock from 7/31/2026 to 11/7/2026 was primarily driven by a 6.5% change in the company's P/E Multiple.
(LTM values as of)731202611072026Change
Stock Price ($)577.11653.1113.2%
Change Contribution By: 
Total Revenues ($ Mil)2,7822,8382.0%
Net Income Margin (%)17.7%18.2%3.3%
P/E Multiple33.135.26.5%
Shares Outstanding (Mil)28280.8%
Cumulative Contribution13.2%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/7/2026
ReturnCorrelation
MEDP13.2% 
Market (SPY)-1.6%29.6%
Sector (XLV)13.7%21.3%

Fundamental Drivers

The 56.0% change in MEDP stock from 4/30/2026 to 11/7/2026 was primarily driven by a 36.2% change in the company's P/E Multiple.
(LTM values as of)430202611072026Change
Stock Price ($)418.66653.1156.0%
Change Contribution By: 
Total Revenues ($ Mil)2,6782,8386.0%
Net Income Margin (%)17.2%18.2%6.1%
P/E Multiple25.935.236.2%
Shares Outstanding (Mil)28281.8%
Cumulative Contribution56.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/7/2026
ReturnCorrelation
MEDP56.0% 
Market (SPY)2.6%7.1%
Sector (XLV)27.1%26.1%

Fundamental Drivers

The 11.7% change in MEDP stock from 10/31/2025 to 11/7/2026 was primarily driven by a 20.4% change in the company's Total Revenues ($ Mil).
(LTM values as of)1031202511072026Change
Stock Price ($)584.91653.1111.7%
Change Contribution By: 
Total Revenues ($ Mil)2,3582,83820.4%
Net Income Margin (%)18.4%18.2%-0.6%
P/E Multiple38.035.2-7.3%
Shares Outstanding (Mil)28280.7%
Cumulative Contribution11.7%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/7/2026
ReturnCorrelation
MEDP11.7% 
Market (SPY)8.7%20.8%
Sector (XLV)29.8%25.7%

Fundamental Drivers

The 169.1% change in MEDP stock from 10/31/2023 to 11/7/2026 was primarily driven by a 59.3% change in the company's Total Revenues ($ Mil).
(LTM values as of)1031202311072026Change
Stock Price ($)242.67653.11169.1%
Change Contribution By: 
Total Revenues ($ Mil)1,7822,83859.3%
Net Income Margin (%)15.3%18.2%19.0%
P/E Multiple27.235.229.5%
Shares Outstanding (Mil)31289.6%
Cumulative Contribution169.1%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/7/2026
ReturnCorrelation
MEDP169.1% 
Market (SPY)81.9%29.3%
Sector (XLV)55.4%33.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MEDP Return56%-2%44%8%69%16%369%
Peers Return54%-32%3%-20%6%41%30%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
MEDP Win Rate67%58%75%33%67%82% 
Peers Win Rate81%33%42%37%54%66% 
S&P 500 Win Rate75%42%67%75%67%45% 

Max Drawdowns [4]
MEDP Max Drawdown-18%-40%-27%-32%-23%-37% 
Peers Max Drawdown-15%-42%-29%-34%-45%-34% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: IQV, CRL, LH, FTRE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/6/2026 (YTD)

How Low Can It Go

EventMEDPS&P 500
2025 US Tariff Shock
  % Loss-19.4%-18.8%
  % Gain to Breakeven24.1%23.1%
  Time to Breakeven105 days79 days
2024 Yen Carry Trade Unwind
  % Loss-14.7%-7.8%
  % Gain to Breakeven17.3%8.5%
  Time to Breakeven364 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-11.3%-9.5%
  % Gain to Breakeven12.8%10.5%
  Time to Breakeven1 days24 days
2023 SVB Regional Banking Crisis
  % Loss-23.8%-6.7%
  % Gain to Breakeven31.3%7.1%
  Time to Breakeven107 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-39.2%-24.5%
  % Gain to Breakeven64.6%32.4%
  Time to Breakeven181 days427 days
2020 COVID-19 Crash
  % Loss-38.5%-33.7%
  % Gain to Breakeven62.5%50.9%
  Time to Breakeven119 days140 days

Compare to IQV, CRL, LH, FTRE

In The Past

Medpace's stock fell -19.4% during the 2025 US Tariff Shock. Such a loss loss requires a 24.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventMEDPS&P 500
2023 SVB Regional Banking Crisis
  % Loss-23.8%-6.7%
  % Gain to Breakeven31.3%7.1%
  Time to Breakeven107 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-39.2%-24.5%
  % Gain to Breakeven64.6%32.4%
  Time to Breakeven181 days427 days
2020 COVID-19 Crash
  % Loss-38.5%-33.7%
  % Gain to Breakeven62.5%50.9%
  Time to Breakeven119 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-24.0%-19.2%
  % Gain to Breakeven31.6%23.8%
  Time to Breakeven32 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-24.7%-3.7%
  % Gain to Breakeven32.7%3.9%
  Time to Breakeven56 days6 days

Compare to IQV, CRL, LH, FTRE

In The Past

Medpace's stock fell -19.4% during the 2025 US Tariff Shock. Such a loss loss requires a 24.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Medpace (MEDP)

Medpace Holdings, Inc. is a global Contract Research Organization (CRO) that specializes in providing comprehensive clinical research services for the pharmaceutical, biotechnology, and medical device industries. The company acts as a critical partner, guiding clients through the complex process of developing new drugs and medical devices from early-stage clinical trials (Phase I) all the way through to post-market support (Phase IV).

Medpace offers a wide array of specialized services that cover the entire clinical development lifecycle. These include expert development plan design, efficient project management, regulatory affairs guidance, and clinical monitoring. Additionally, it provides essential laboratory services such as bio-analytical and central laboratory testing, imaging services, and electrocardiography (ECG) reading, alongside robust data management and analysis, pharmacovigilance, and support for New Drug Application (NDA) submissions.

The company's primary customers are pharmaceutical, biotechnology, and medical device companies seeking specialized expertise to manage their clinical trials and regulatory processes. Medpace operates internationally, serving these clients across key markets in North America, Europe, and Asia, facilitating the global development and approval of new medical innovations.

AI Analysis | Feedback

Here are 1-3 brief analogies for Medpace (MEDP):

  • The AWS for drug and medical device clinical trials.
  • Accenture for pharmaceutical and medical device R&D.

AI Analysis | Feedback

  • Clinical Development & Monitoring: Comprehensive management and oversight of clinical trials for drugs and medical devices from Phase I through Phase IV.
  • Regulatory Affairs: Expert guidance and support for navigating global regulatory processes and preparing submissions for market authorization.
  • Data Management & Biostatistics: Collection, processing, analysis, and reporting of clinical trial data to derive meaningful insights.
  • Pharmacovigilance: Systematic monitoring and reporting of adverse drug reactions to ensure patient safety throughout the product lifecycle.
  • Central Laboratory Services: Standardized and coordinated laboratory testing, sample management, and bio-analytical services for clinical studies.
  • Specialized Imaging & ECG: Provision of advanced medical imaging and electrocardiography reading support for clinical trials.

AI Analysis | Feedback

Medpace (MEDP) provides clinical research and development services primarily to other companies in the life sciences sector. Medpace serves a broad and diversified client base, and as such, no single customer typically accounts for a significant portion of its revenue (e.g., 10% or more) that would require individual disclosure in its public filings. Therefore, specific names of major customer companies are not publicly available.

Instead, Medpace's customer base can be categorized into the following industries:

  • Pharmaceutical Companies: This includes a range of clients from large, established global pharmaceutical corporations to emerging small and mid-sized drug developers that require clinical trial services for their drug candidates.
  • Biotechnology Companies: Often innovative and rapidly growing firms focused on developing biological products and therapies, these companies frequently outsource their clinical development needs to Contract Research Organizations (CROs) like Medpace.
  • Medical Device Companies: Organizations engaged in the development, manufacturing, and marketing of medical devices also utilize Medpace's services for clinical trials, regulatory support, and post-market studies.

AI Analysis | Feedback

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August J. Troendle, MD, Chief Executive Officer & Chairman of the Board of Directors
Dr. Troendle founded Medpace in July 1992 and has served as its Chief Executive Officer and Chairman of the Board since its inception. Prior to founding Medpace, he served as Assistant, Associate, and Senior Associate Director at Sandoz (Novartis) from 1987 to 1992, where he was responsible for the clinical development of lipid-altering agents. From 1986 to 1987, Dr. Troendle worked as a Medical Review Officer in the Division of Metabolic and Endocrine Drug Products at the FDA. He has extensive experience as a director for various public and private companies, including Coherus BioSciences, Inc., Xenon Pharmaceuticals Inc., LIB Therapeutics, LLC, CinCor Pharma, Inc., and CinRx Pharma, LLC. Medpace transitioned from a founder-led private firm to a public CRO after a 2014 recapitalization by CCMP Capital and an August 2016 Nasdaq IPO.

Kevin Brady, Chief Financial Officer and Treasurer
Mr. Brady joined Medpace in November 2018 as Executive Director, Finance, became Treasurer in February 2019, and was appointed Chief Financial Officer on August 1, 2021. Before joining Medpace, he served as Vice President of Finance for Myriad Genetics, Inc. from 2015 to 2018. Prior to Myriad, he spent ten years at Procter & Gamble in various finance and accounting leadership roles and started his career in the audit practice at Ernst & Young LLP. He also served as Vice President & Corporate Controller of Assurex Health from May 2015 through August 2016, which was subsequently acquired by Myriad Genetics, Inc.

Jesse Geiger, President
Mr. Geiger joined Medpace in October 2007 as Corporate Controller, became Chief Financial Officer in March 2011, and expanded his role to include Chief Operating Officer of Laboratory Operations in November 2014. He was appointed President on August 1, 2021. Mr. Geiger was instrumental in leading Medpace through two equity recapitalizations, including with Cinven in early 2014. Prior to Medpace, he worked for SENCORP from 2004 to 2007 as Corporate Controller and Manager of Financial Planning and Analysis, and before that, he was the Director of Capital Markets for Cincinnati Bell from 2002 to 2004. He began his career in the audit practice at Arthur Andersen LLP. Mr. Geiger has also served as a director for several private companies, including LIB Therapeutics, LLC and CinRx Pharma, LLC since 2015.

Stephen P. Ewald, General Counsel, Chief Compliance Officer & Corporate Secretary
Mr. Ewald joined Medpace in 2012.

Susan Burwig, Executive Vice President, Operations
Ms. Burwig joined Medpace in 1993.

AI Analysis | Feedback

The key risks to Medpace's business are primarily tied to the cyclical nature and funding environment of the biopharmaceutical industry, stringent regulatory landscapes, and intense market competition. Here are the key risks:
  1. Dependence on Biopharmaceutical R&D Spending, Funding, and Project Cancellations: Medpace's revenue is heavily reliant on the research and development (R&D) expenditures of pharmaceutical, biotechnology, and medical device companies, particularly smaller biopharmaceutical firms which accounted for 79% of its net revenue in 2024. These companies may have limited access to capital, making Medpace susceptible to a slowdown in biotech funding or reduced R&D budgets. A soft biotech funding environment, as observed since 2022, and higher interest rates affecting industry funding, can lead to decreased demand for Medpace's services. Furthermore, cancellations and delays in clinical trials negatively impact Medpace's operating results, with the company reporting a higher level of cancellations and a historically low net book-to-bill ratio in the third quarter of 2024 and Q4 2025.
  2. Regulatory Changes and Compliance Risks: Medpace operates in a highly regulated industry, making it vulnerable to healthcare reform and potential additional regulatory changes that could impact the biopharmaceutical industry. Such reforms might reduce the need for Medpace's services or negatively affect its profitability. Recent legislation mandating medicine price cuts in the U.S. and reductions in U.S. government healthcare expenses pose a considerable risk, as they could lead customers to reduce R&D expenditures. Any failure to comply with stringent regulatory requirements, such as Good Clinical Practice (GCP) regulations, could result in significant liabilities, including the need to repeat clinical trials, thereby affecting the company's financial performance and reputation.
  3. Intense Industry Competition and Pricing Pressure: The clinical research organization (CRO) industry is highly competitive and characterized by rapid consolidation and the emergence of new competitors. Medpace must continuously innovate and differentiate its services to maintain its market position against larger or more specialized CROs. This competitive landscape can lead to increased pricing pressure or other pressures, which could result in a decrease in Medpace's operating margins if the company is unable to achieve efficiencies or grow revenues at a rate faster than expenses.

AI Analysis | Feedback

The increasing adoption of artificial intelligence (AI) and machine learning (ML) by pharmaceutical and biotechnology companies for drug discovery, clinical trial design, patient recruitment, and data analysis represents a clear emerging threat. This technology can enable sponsors to perform more tasks in-house or rely on specialized AI-driven platforms, potentially reducing the scope or volume of traditional outsourced services provided by Contract Research Organizations (CROs) like Medpace. It also opens the door for new, tech-first competitors that leverage AI more effectively in clinical development.

The acceleration and mainstream adoption of decentralized clinical trials (DCTs) and virtual trial models also represent a clear emerging threat. These models shift away from traditional site-centric operations towards remote patient monitoring, telemedicine, wearables, and direct-to-patient services. If Medpace does not rapidly and effectively integrate and scale these technology-driven operational models, it risks losing market share to competitors (both established and new tech-focused players) that are more agile in implementing DCTs, potentially diminishing the demand for Medpace's traditional labor-intensive monitoring and site management services.

AI Analysis | Feedback

Medpace Holdings, Inc. (MEDP) operates within the Contract Research Organization (CRO) industry, providing a comprehensive suite of clinical research-based drug and medical device development services across various therapeutic areas globally, including North America, Europe, and Asia. These services span the entire clinical development process from Phase I to Phase IV.

According to Medpace's corporate presentation from May 2025, their core addressable market for the services they provide is estimated to be $71 billion globally. With a specific emphasis on serving small to mid-sized biotechnology, pharmaceutical, and medical device companies, this addressable market is clarified to be $29 billion globally. Medpace's strategic focus is on these smaller biopharma clients, with 81% of their year-to-date 2025 revenue coming from this segment.

For broader context, the global contract research organization (CRO) services market, which encompasses Medpace's main products and services, was valued at approximately USD 77.00 billion in 2025 and is projected to grow to around USD 149.34 billion by 2034, exhibiting a compound annual growth rate (CAGR) of 7.61% from 2025 to 2034. Other estimates for the global CRO market in 2025 range from USD 84.61 billion to USD 92.27 billion.

Regionally, North America is a significant market for CRO services, holding the largest share of the global market. In 2024, North America accounted for 35% of the global market. Its market size was valued at USD 49.88 billion in 2026. The European CRO market is projected to grow from USD 23.6 billion in 2024 to USD 44.81 billion by 2035. The Asia-Pacific CRO market is estimated at USD 18.94 billion in 2025 and is expected to reach USD 31.10 billion by 2030.

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Expected Drivers of Future Revenue Growth for Medpace (MEDP)

Over the next two to three years, Medpace Holdings, Inc. (MEDP) is expected to drive revenue growth through several key factors:
  1. Conversion of Robust Backlog into Revenue: Medpace consistently highlights its significant backlog of awarded projects. For instance, as of December 31, 2025, approximately $1.9 billion of the company's nearly $3 billion backlog was projected to convert into revenue within the subsequent 12 months. This strong existing pipeline provides a predictable base for future revenue generation.
  2. Continued Growth in Net New Business Awards: The company's ability to secure new contracts, evidenced by its net new business awards and book-to-bill ratio, is a crucial indicator of future revenue. Medpace reported $736.6 million in net new business awards in Q4 2025, resulting in a healthy net book-to-bill ratio of 1.04x for the quarter and 1.05x for the full year 2025. A sustained book-to-bill ratio above 1.0 indicates continued expansion of its project pipeline.
  3. Enhanced Operational Efficiency and Productivity: Medpace emphasizes ongoing improvements in operational efficiency and productivity. These efforts are expected to optimize resource utilization, allowing the company to execute projects more efficiently and handle increasing demand, thereby contributing to revenue growth without a proportional increase in costs. The company also noted a modest headcount growth alongside substantial revenue growth, suggesting productivity improvements.
  4. Sustained Demand for Outsourced, Complex Clinical Trials: Medpace's business model is centered on providing services for complex clinical trials across various therapeutic areas, including cutting-edge cell therapy work. The broader long-term need for outsourced clinical research, particularly for specialized and faster-burning studies, underpins the company's revenue acceleration. While there have been some shifts and elevated cancellations in metabolic trials, management expects a normalization of these trends, supporting overall demand for their services.
  5. Stable Funding Environment and Request for Proposal (RFP) Flow: Management commentary suggests a stable funding environment for clinical research and anticipates stable to improved RFP flow. A consistent and robust flow of new project requests is essential for replenishing the backlog and driving future revenue growth.

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Share Repurchases

  • Medpace authorized an additional $1 billion share repurchase program in May 2025.
  • For the full year 2025, the company repurchased 2,961,924 shares for a total of $912.9 million.
  • As of December 31, 2025, Medpace had $821.7 million remaining under its authorized share repurchase program.

Share Issuance

  • Medpace Holdings' shares outstanding declined by 7.77% in 2025 to 0.03 billion, indicating that share repurchases outpaced any issuances.
  • In 2024, shares outstanding increased by 0.54% from 2023 to 0.032 billion.
  • Stock-based compensation expense, a source of potential dilution, was $34.786 million in 2025 and $25.514 million in 2024.

Capital Expenditures

  • Property and equipment expenditures were $31.356 million in 2025 and $36.548 million in 2024.
  • Capital expenditures were $36.65 million in 2023 and $36.88 million in 2022.
  • The primary focus of capital expenditures is on infrastructure investments in facilities, equipment, and technology.

Better Bets vs. Medpace (MEDP)

Peer Outperformance in Life Sciences Tools & Services

MEDP has outperformed 98% of its 107 Life Sciences Tools & Services peers over 5Y. Among the peers that beat it is AXGN. Life Sciences Tools & Services ranks 8th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Life Sciences Tools & Services constituents that MEDP has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
58%
of 124 industry peers · 10.9% return
3Y
84%
of 113 industry peers · 137.2% return
5Y
98%
of 107 industry peers · 189.2% return
Life Sciences Tools & Services peers with revenue growth within 4pp of MEDP's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
MEDP Medpace 16.8% 35.2x 10.9%137.2%189.2% —
AXGN Axogen 20.6% -86.4x 112.2%826.3%264.0% +75pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Health Care sector, ranked by 5Y. Life Sciences Tools & Services is MEDP's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 6.4%54.7%91.6% CAH 507% · MCK 390% · COR 176%
Health Care Services 20 32.4%24.2%7.1% HIMS 212% · RDNT 120% · DGX 100%
Managed Health Care 8 55.2%-1.0%-2.4% OSCR 80% · HQY 52% · ELV 8%
Health Care Facilities 26 16.4%19.8%-6.8% THC 276% · NHC 212% · EHC 179%
Health Care Equipment 50 4.0%12.4%-18.2% UFPT 361% · GKOS 294% · TMDX 180%
Pharmaceuticals 61 -8.8%11.8%-37.3% LQDA 975% · XERS 679% · KNSA 537%
Health Care Supplies 11 23.1%16.0%-41.2% LNTH 248% · HAE 61% · MMSI 26%
Life Sciences Tools & Services ← 108 -6.4%-14.3%-74.5% AXGN 264% · MEDP 189% · NTRA 168%
Biotechnology 365 -23.8%-33.1%-81.5% ELVN 1194% · TRVI 1125% · DNTH 995%
Health Care Technology 21 -21.7%-51.6%-82.9% VEEV -5% · DOCS -52%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

MEDPIQVCRLLHFTREMedian
NameMedpace IQVIA Charles .Labcorp Fortrea  
Mkt Price653.03271.70338.70366.5722.04338.70
Mkt Cap18.244.716.229.72.118.2
Rev LTM2,83817,3113,97714,5942,6673,977
Op Inc LTM6072,3935351,64545607
FCF LTM6682,0794001,287169668
FCF 3Y Avg6272,0845011,170126627
CFO LTM7232,7366221,815202723
CFO 3Y Avg6702,7067231,669156723

Growth & Margins

MEDPIQVCRLLHFTREMedian
NameMedpace IQVIA Charles .Labcorp Fortrea  
Rev Chg LTM20.4%8.8%-1.2%6.0%-3.4%6.0%
Rev Chg 3Y Avg16.8%5.3%-1.9%6.6%0.4%5.3%
Rev Chg Q8.5%8.0%-2.2%6.9%-1.4%6.9%
QoQ Delta Rev Chg LTM2.0%1.9%-0.6%1.7%-0.4%1.7%
Op Inc Chg LTM19.7%6.0%50.3%20.6%167.2%20.6%
Op Inc Chg 3Y Avg23.1%7.4%-0.3%12.0%-2.9%7.4%
Op Mgn LTM21.4%13.8%13.5%11.3%1.7%13.5%
Op Mgn 3Y Avg20.9%14.1%11.8%10.0%-1.5%11.8%
QoQ Delta Op Mgn LTM0.4%-0.1%1.8%-0.1%0.7%0.4%
CFO/Rev LTM25.5%15.8%15.7%12.4%7.6%15.7%
CFO/Rev 3Y Avg27.8%16.8%18.0%12.2%5.8%16.8%
FCF/Rev LTM23.5%12.0%10.0%8.8%6.3%10.0%
FCF/Rev 3Y Avg26.0%12.9%12.5%8.5%4.7%12.5%

Valuation

MEDPIQVCRLLHFTREMedian
NameMedpace IQVIA Charles .Labcorp Fortrea  
Mkt Cap18.244.716.229.72.118.2
P/S6.42.64.12.00.82.6
P/Op Inc30.118.730.318.146.530.1
P/EBIT30.119.11,766.020.472.430.1
P/E35.232.1402.929.6-30.732.1
P/CFO25.216.426.016.410.416.4
Total Yield2.8%3.1%0.2%4.2%-3.3%2.8%
Dividend Yield0.0%0.0%0.0%0.8%0.0%0.0%
FCF Yield 3Y Avg4.6%5.4%5.1%5.1%6.5%5.1%
D/E0.00.40.20.20.50.2
Net D/E-0.00.30.20.20.40.2

Returns

MEDPIQVCRLLHFTREMedian
NameMedpace IQVIA Charles .Labcorp Fortrea  
1M Rtn8.4%5.0%13.7%16.7%8.2%8.4%
3M Rtn10.6%13.8%26.6%15.1%19.6%15.1%
6M Rtn54.0%52.0%90.7%45.0%42.8%52.0%
12M Rtn10.8%29.1%101.5%46.5%95.9%46.5%
3Y Rtn137.1%36.0%92.5%83.2%-22.6%83.2%
1M Excs Rtn13.4%10.0%18.7%21.7%13.2%13.4%
3M Excs Rtn13.3%17.1%27.1%19.2%20.9%19.2%
6M Excs Rtn54.3%52.3%91.0%45.3%43.1%52.3%
12M Excs Rtn0.5%20.8%93.4%39.2%75.9%39.2%
3Y Excs Rtn85.5%-23.1%27.9%10.8%-96.4%10.8%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment2,5302,1091,8861,460 
Antiviral and Anti-infective (AVAI)    111
Cardiology    120
Central Nervous System    122
Metabolic    160
Oncology    363
Other    267
Total2,5302,1091,8861,4601,142


Operating Income by Segment
$ Mil202520242023
Single Segment535447337
Total535447337


Net Income by Segment
$ Mil202520242023
Single Segment451404283
Total451404283


Price Behavior

Price Behavior
Market Price$653.11 
Market Cap ($ Bil)18.2 
First Trading Date08/11/2016 
Distance from 52W High-5.7% 
   50 Days200 Days
DMA Price$622.54$530.37
DMA Trendupup
Distance from DMA4.9%23.1%
 3M1YR
Volatility30.7%44.0%
Downside Capture28.1374.07
Upside Capture97.9077.04
Correlation (S&P 500)32.8%21.3%
MEDP Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta1.431.050.610.030.680.99
Up Beta4.290.78-0.020.260.840.96
Down Beta1.501.771.640.080.320.58
Up Capture179%126%76%46%73%224%
Bmk +ve Days12182862130427
Stock +ve Days13233365133404
Down Capture88%39%10%-90%82%105%
Bmk -ve Days10253664121325
Stock -ve Days9203161118346

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MEDP
MEDP9.1%44.0%0.33-
Sector ETF (XLV)28.6%16.9%1.3125.7%
Equity (SPY)9.5%13.6%0.4020.9%
Gold (GLD)1.6%28.7%0.0510.6%
Commodities (DBC)38.4%21.2%1.42-3.7%
Real Estate (VNQ)11.3%14.2%0.511.1%
Bitcoin (BTCUSD)-27.2%43.6%-0.6114.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MEDP
MEDP23.6%51.7%0.58-
Sector ETF (XLV)8.3%15.4%0.3537.5%
Equity (SPY)11.3%17.3%0.4837.8%
Gold (GLD)17.5%19.1%0.747.0%
Commodities (DBC)8.1%19.6%0.303.0%
Real Estate (VNQ)1.3%18.9%-0.0432.5%
Bitcoin (BTCUSD)4.0%51.6%0.2619.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MEDP
MEDP36.7%49.7%0.81-
Sector ETF (XLV)12.2%16.8%0.5943.3%
Equity (SPY)15.0%18.0%0.7043.4%
Gold (GLD)11.9%16.5%0.595.9%
Commodities (DBC)7.5%18.1%0.3310.1%
Real Estate (VNQ)5.9%20.7%0.2436.1%
Bitcoin (BTCUSD)60.0%66.3%1.0013.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity1.6 Mil
Short Interest: % Change Since 93020261.0%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest6.6 days
Basic Shares Quantity27.9 Mil
Short % of Basic Shares5.8%

Returns Analyses

Earnings Returns History

Updated 10/30/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/21/2026-1.3%4.6% 
7/22/202614.7%10.8%16.0%
4/22/2026-22.6%-18.7%-15.4%
2/9/2026-15.9%-19.3%-9.9%
10/22/20259.1%6.9%7.2%
7/21/202554.7%46.7%49.6%
4/21/2025-2.3%3.2%6.1%
2/10/2025-7.5%-3.9%-8.3%
...
SUMMARY STATS   
# Positive101312
# Negative151212
Median Positive12.7%6.9%11.4%
Median Negative-7.5%-9.4%-10.3%
Max Positive54.7%46.7%49.6%
Max Negative-22.6%-19.6%-22.2%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/21/2026-1.3%4.6% 
7/22/202614.7%10.8%16.0%
4/22/2026-22.6%-18.7%-15.4%
2/9/2026-15.9%-19.3%-9.9%
10/22/20259.1%6.9%7.2%
7/21/202554.7%46.7%49.6%
4/21/2025-2.3%3.2%6.1%
2/10/2025-7.5%-3.9%-8.3%
10/21/2024-7.5%-6.7%-10.8%
7/22/2024-18.3%-11.9%-10.9%
4/22/20248.2%6.4%5.4%
2/12/202412.3%18.5%25.8%
10/23/202319.7%6.3%21.4%
7/24/20233.9%2.5%0.5%
4/24/202311.2%10.3%9.8%
2/13/2023-5.1%-13.1%-22.2%
10/24/202237.7%39.9%39.8%
7/25/2022-6.2%0.5%-2.0%
4/25/2022-10.4%-7.0%-9.9%
2/14/2022-20.3%-19.6%-11.7%
10/25/202113.1%20.2%12.9%
7/26/2021-5.7%-3.2%-0.7%
4/26/2021-14.2%-13.5%-14.4%
2/16/2021-2.7%-6.4%-3.4%
10/26/2020-6.2%-2.5%6.9%
SUMMARY STATS   
# Positive101312
# Negative151212
Median Positive12.7%6.9%11.4%
Median Negative-7.5%-9.4%-10.3%
Max Positive54.7%46.7%49.6%
Max Negative-22.6%-19.6%-22.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202610/22/202610-Q
06/30/202607/23/202610-Q
03/31/202604/23/202610-Q
12/31/202502/10/202610-K
09/30/202510/23/202510-Q
06/30/202507/22/202510-Q
03/31/202504/22/202510-Q
12/31/202402/11/202510-K
09/30/202410/22/202410-Q
06/30/202407/23/202410-Q
03/31/202404/23/202410-Q
12/31/202302/13/202410-K
09/30/202310/24/202310-Q
06/30/202307/25/202310-Q
03/31/202304/25/202310-Q
12/31/202202/14/202310-K
Collapse to Preview
Report DateFiling DateFiling
09/30/202610/22/202610-Q
06/30/202607/23/202610-Q
03/31/202604/23/202610-Q
12/31/202502/10/202610-K
09/30/202510/23/202510-Q
06/30/202507/22/202510-Q
03/31/202504/22/202510-Q
12/31/202402/11/202510-K
09/30/202410/22/202410-Q
06/30/202407/23/202410-Q
03/31/202404/23/202410-Q
12/31/202302/13/202410-K
09/30/202310/24/202310-Q
06/30/202307/25/202310-Q
03/31/202304/25/202310-Q
12/31/202202/14/202310-K
09/30/202210/25/202210-Q
06/30/202207/26/202210-Q
03/31/202204/26/202210-Q
12/31/202102/15/202210-K
09/30/202110/26/202110-Q
06/30/202107/27/202110-Q
03/31/202104/27/202110-Q
12/31/202002/16/202110-K
09/30/202010/27/202010-Q
06/30/202007/28/202010-Q
03/31/202004/29/202010-Q
12/31/201902/25/202010-K

Recent Forward Guidance

Updated 10/22/2026

Latest: Q3 2026 Earnings Reported 10/21/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 DepreciationReported 26.80 Mil    
2026 AmortizationReported 0.60 Mil    
2026 RevenueReported2.83 Bil2.85 Bil2.85 Bil0.0% AffirmedGuidance: 2.85 Bil for 2026
2026 Revenue GrowthReported12.0%12.4%12.8% -0.0%LoweredGuidance: 12.45% for 2026
2026 EBITDAReported638.00 Mil645.00 Mil652.00 Mil2.4% RaisedGuidance: 630.00 Mil for 2026
2026 Interest Income, netReported 22.90 Mil    
2026 Income Tax ProvisionReported119.50 Mil121.50 Mil123.50 Mil   
2026 Effective Tax RateReported19.0%19.25%19.5%   
2026 GAAP Net IncomeReported514.00 Mil519.00 Mil524.00 Mil3.0% RaisedGuidance: 504.00 Mil for 2026
2026 Diluted Earnings Per Share (GAAP)Reported17.9718.1518.323.1% RaisedGuidance: 17.6 for 2026
2026 Diluted Weighted Average Shares OutstandingReported 28.60 Mil    


Prior: Q2 2026 Earnings Reported 7/22/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported2.81 Bil2.85 Bil2.88 Bil1.4% RaisedGuidance: 2.81 Bil for 2026
2026 Revenue GrowthReported10.9%12.45%14.0% 1.6%RaisedGuidance: 10.85% for 2026
2026 EBITDAReported618.00 Mil630.00 Mil642.00 Mil1.6% RaisedGuidance: 620.00 Mil for 2026
2026 Net IncomeReported494.00 Mil504.00 Mil514.00 Mil1.0% RaisedGuidance: 499.00 Mil for 2026
2026 EPSReported17.2517.617.953.0% RaisedGuidance: 17.09 for 2026

Q1 2026 Earnings Reported 4/22/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported2.75 Bil2.81 Bil2.85 Bil0 AffirmedGuidance: 2.81 Bil for 2026
2026 Revenue GrowthReported8.9%10.85%12.8% 0AffirmedGuidance: 10.85% for 2026
2026 EBITDAReported605.00 Mil620.00 Mil635.00 Mil0 AffirmedGuidance: 620.00 Mil for 2026
2026 Net IncomeReported487.00 Mil499.00 Mil511.00 Mil0 AffirmedGuidance: 499.00 Mil for 2026
2026 EPSReported16.6817.0917.50 AffirmedGuidance: 17.09 for 2026

Q4 2025 Earnings Reported 2/9/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported2.75 Bil2.81 Bil2.85 Bil12.0% Higher NewGuidance: 2.50 Bil for 2025
2026 Revenue GrowthReported8.9%10.85%12.8% -8.0%Lower NewGuidance: 18.8% for 2025
2026 EBITDAReported605.00 Mil620.00 Mil635.00 Mil12.7% Higher NewGuidance: 550.00 Mil for 2025
2026 Net IncomeReported487.00 Mil499.00 Mil511.00 Mil14.7% Higher NewGuidance: 435.00 Mil for 2025
2026 EPSReported16.6817.0917.516.0% Higher NewGuidance: 14.73 for 2025

Insider Activity

Updated 11/2/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Ewald, Stephen PGeneral Counsel & Corp. Secy.DirectSell11022026690.001,245859,05013,177,620Form
2Burwig, Susan EExec. VP, OperationsDirectSell10282026677.003,9402,667,38036,566,124Form
3Burwig, Susan EExec. VP, OperationsDirectSell10282026677.0016,06010,872,62039,011,448Form
4Troendle, August JPresident & CEODirectSell10012026625.4721,96613,739,074211,549,591Form
5Troendle, August JPresident & CEODirectSell10012026621.0226,70116,581,855223,685,815Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Ewald, Stephen PGeneral Counsel & Corp. Secy.DirectSell11022026690.001,245859,05013,177,620Form
2Burwig, Susan EExec. VP, OperationsDirectSell10282026677.003,9402,667,38036,566,124Form
3Burwig, Susan EExec. VP, OperationsDirectSell10282026677.0016,06010,872,62039,011,448Form
4Troendle, August JPresident & CEODirectSell10012026625.4721,96613,739,074211,549,591Form
5Troendle, August JPresident & CEODirectSell10012026621.0226,70116,581,855223,685,815Form
6Troendle, August JPresident & CEODirectSell9292026620.072,4101,494,369239,900,122Form
7Troendle, August JPresident & CEODirectSell9292026620.6015495,572241,600,821Form
8Troendle, August JPresident & CEODirectSell9252026621.3327,83317,293,478241,980,696Form
9Troendle, August JPresident & CEODirectSell9252026628.6416,08310,110,417262,324,557Form
10Troendle, August JPresident & CEODirectSell9232026628.1149,01830,788,696272,205,287Form
11Troendle, August JPresident & CEODirectSell9232026623.2921,88313,639,455300,668,863Form
12Troendle, August JPresident & CEODirectSell9212026620.4010,8806,749,952312,850,969Form
13Troendle, August JPresident & CEODirectSell9172026621.298,7705,448,713320,059,407Form
14Troendle, August JPresident & CEODirectSell9172026620.8415,9719,915,436325,272,355Form
15Troendle, August JPresident & CEODirectSell8312026620.27650403,176334,880,051Form
16Kraft, Robert O DirectSell8282026617.813,8582,383,511590,009Form
17Troendle, August JPresident & CEODirectSell8272026620.034,0002,480,120335,153,496Form
18Troendle, August JPresident & CEODirectSell8272026620.38673417,516337,824,207Form
19Troendle, August JPresident & CEODirectSell8252026620.231,9831,229,916338,159,940Form
20Troendle, August JPresident & CEODirectSell8252026624.4513,9958,739,178341,699,040Form
21Brady, Kevin MCFO & TreasurerDirectSell8242026625.243,4002,125,8168,021,829Form
22Troendle, August JPresident & CEODirectSell8212026618.7927,17416,814,999347,261,854Form
23Troendle, August JPresident & CEODirectSell8212026606.4715,6099,466,390356,828,147Form
24Carley, Brian T DirectSell8212026608.635,0003,043,15016,935,130Form
25Davenport, Fred B JR DirectSell8212026606.157,2834,414,5902,302,158Form
26McCarthy, Cornelius P Iii DirectSell8132026605.371,140690,1227,430,917Form
27Troendle, August JPresident & CEODirectSell8122026605.1117,61010,655,987372,627,948Form
28Troendle, August JPresident & CEODirectSell8122026601.535,5343,328,867381,016,320Form
29McCarthy, Cornelius P Iii DirectSell8112026585.07795465,1317,848,727Form
30Troendle, August JPresident & CEODirectSell7292026600.013,5102,106,035383,373,989Form
31Burwig, Susan EExec. VP, OperationsDirectSell7292026600.007,5004,500,00037,790,400Form
32Troendle, August JPresident & CEODirectSell7292026600.853,7282,239,969386,019,688Form
33Ewald, Stephen PGeneral Counsel & Corp. Secy.DirectSell6012026450.0016,3497,357,0509,154,350Form
34Geiger, Jesse JPresidentDirectSell3192026455.3031,70714,436,1976,829,500Form
35Troendle, August JCEODirectSell12042025590.69668394,581381,694,427Form
36Troendle, August JCEODirectSell12032025590.475,6983,364,498381,946,700Form
37Troendle, August JCEODirectSell12032025593.2523,17813,750,348387,125,288Form
38Troendle, August JCEODirectSell12012025593.4615,1518,991,512401,017,539Form
39Troendle, August JCEODirectSell12012025606.8841,33125,082,957419,280,648Form
40Troendle, August JCEODirectSell11262025615.5242,39226,093,124450,689,899Form
41Troendle, August JCEODirectSell11262025607.7859,02535,874,214470,787,604Form
42Burwig, Susan EExec. VP, OperationsDirectSell11262025609.1520,00012,183,00016,751,625Form
43Brady, Kevin MCFO & TreasurerDirectSell11252025590.353,0001,771,0503,542,100Form
44Troendle, August JCEODirectSell11242025592.1821,85812,943,870493,657,237Form
45Troendle, August JCEODirectSell11242025598.496,8304,087,687511,999,218Form
46Troendle, August JCEODirectSell11202025592.0723,86214,127,974510,550,842Form
47Troendle, August JCEODirectSell11202025590.847,1914,248,730523,588,819Form
48Troendle, August JCEODirectSell11182025591.006,0473,573,777527,980,488Form
49Kraft, Robert O DirectSell11182025591.856,4723,830,453493,011Form
50Troendle, August JCEODirectSell11182025595.2614,7478,778,299535,385,773Form
51Troendle, August JCEODirectSell11142025601.375,1283,083,825549,749,602Form
52Troendle, August JCEODirectSell11142025603.235,3123,204,358554,543,307Form
53Burwig, Susan EExec. VP, OperationsDirectSell11122025605.0018,00010,890,00028,737,500Form
54Geiger, Jesse JPresidentDirectSell11072025595.6621,50312,808,4778,934,900Form
55Davenport, Fred B JR DirectSell11032025581.885,9723,474,9872,035,416Form

Investor Activity (13F)

Updated Nov 8, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Crow's Nest Holdings LP$19.2 Mil4.5%11New13F
Vulcan Value Partners, LLC$97.5 Mil2.6%33ADD +329.3%13F
Turtle Creek Asset Management Inc.$65.1 Mil2.4%39ADD +4741.8%13F
Spyglass Capital Management LLC$26.8 Mil1.9%25TRIM -19.4%13F
Local Pensions Partnership Investment Ltd$18.3 Mil0.4%32Hold13F
Fundsmith LLP$30.1 Mil0.2%34TRIM -24.1%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Crow's Nest Holdings LP$19.2 Mil4.5%11New13F
Turtle Creek Asset Management Inc.$65.1 Mil2.4%39ADD +4741.8%13F
Vulcan Value Partners, LLC$97.5 Mil2.6%33ADD +329.3%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Fundsmith LLP$30.1 Mil0.2%34TRIM -24.1%13F
Spyglass Capital Management LLC$26.8 Mil1.9%25TRIM -19.4%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Vulcan Value Partners, LLC$97.5 Mil2.6%33ADD +329.3%13F
Turtle Creek Asset Management Inc.$65.1 Mil2.4%39ADD +4741.8%13F
Fundsmith LLP$30.1 Mil0.2%34TRIM -24.1%13F
Spyglass Capital Management LLC$26.8 Mil1.9%25TRIM -19.4%13F
Crow's Nest Holdings LP$19.2 Mil4.5%11New13F
Local Pensions Partnership Investment Ltd$18.3 Mil0.4%32Hold13F
Core Cache Last Updated: 11/7/2026