Discounted Cash Flow

Medpace Holdings, Inc.

MEDP · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $421.6m $13.4m $78.2m 3.2% $0.38
2017 $436.2m (3.5%) $39.1m (191.4%) $85.7m (9.5%) 9.0% (181.7%) $1.00 (163.2%)
2018 $704.6m (61.5%) $73.2m (87.1%) $140.6m (64.1%) 10.4% (15.8%) $2.05 (105.0%)
2019 $861.0m (22.2%) $100.4m (37.2%) $184.0m (30.9%) 11.7% (12.3%) $2.79 (36.1%)
2020 $925.9m (7.5%) $145.4m (44.7%) $227.3m (23.6%) 15.7% (34.6%) $4.07 (45.9%)
2021 $1.1b (23.4%) $181.8m (25.1%) $235.1m (3.4%) 15.9% (1.4%) $5.06 (24.3%)
2022 $1.5b (27.8%) $245.4m (34.9%) $351.2m (49.4%) 16.8% (5.6%) $7.57 (49.6%)
2023 $1.9b (29.2%) $282.8m (15.3%) $396.7m (13.0%) 15.0% (-10.8%) $9.20 (21.5%)
2024 $2.1b (11.8%) $404.4m (43.0%) $572.3m (44.2%) 19.2% (27.9%) $13.06 (42.0%)
2025 $2.5b (20.0%) $451.1m (11.6%) $681.9m (19.2%) 17.8% (-7.0%) $15.64 (19.8%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model