Intrinsic value of Medpace Holdings, Inc. - MEDP

Previous Close

$62.56

  Intrinsic Value

$345.24

stock screener

  Rating & Target

str. buy

+452%

Previous close

$62.56

 
Intrinsic value

$345.24

 
Up/down potential

+452%

 
Rating

str. buy

We calculate the intrinsic value of MEDP stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  1,128
  1,743
  2,606
  3,782
  5,335
  7,335
  9,845
  12,928
  16,635
  21,011
  26,091
  31,899
  38,449
  45,746
  53,790
  62,570
  72,076
  82,291
  93,199
  104,783
  117,028
  129,923
  143,456
  157,622
  172,418
  187,846
  203,914
  220,631
  238,014
  256,080
Variable operating expenses, $m
  916
  1,376
  2,021
  2,900
  4,061
  5,555
  7,432
  9,736
  12,507
  15,778
  19,502
  23,843
  28,739
  34,193
  40,205
  46,768
  53,873
  61,509
  69,662
  78,320
  87,473
  97,111
  107,227
  117,815
  128,874
  140,407
  152,416
  164,912
  177,904
  191,408
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  916
  1,376
  2,021
  2,900
  4,061
  5,555
  7,432
  9,736
  12,507
  15,778
  19,502
  23,843
  28,739
  34,193
  40,205
  46,768
  53,873
  61,509
  69,662
  78,320
  87,473
  97,111
  107,227
  117,815
  128,874
  140,407
  152,416
  164,912
  177,904
  191,408
Operating income, $m
  212
  367
  585
  882
  1,274
  1,779
  2,413
  3,192
  4,128
  5,233
  6,589
  8,056
  9,710
  11,553
  13,584
  15,802
  18,202
  20,782
  23,537
  26,462
  29,555
  32,811
  36,229
  39,807
  43,543
  47,440
  51,498
  55,720
  60,109
  64,672
EBITDA, $m
  318
  491
  734
  1,066
  1,504
  2,067
  2,775
  3,643
  4,688
  5,921
  7,353
  8,990
  10,835
  12,892
  15,159
  17,633
  20,312
  23,191
  26,265
  29,529
  32,980
  36,614
  40,428
  44,420
  48,590
  52,938
  57,466
  62,177
  67,076
  72,167
Interest expense (income), $m
  17
  4
  17
  34
  59
  94
  139
  197
  269
  359
  466
  593
  741
  909
  1,099
  1,311
  1,544
  1,799
  2,074
  2,371
  2,687
  3,023
  3,378
  3,752
  4,144
  4,555
  4,984
  5,432
  5,898
  6,383
  6,887
Earnings before tax, $m
  208
  351
  551
  823
  1,181
  1,641
  2,217
  2,922
  3,769
  4,767
  5,996
  7,315
  8,801
  10,454
  12,274
  14,258
  16,404
  18,708
  21,166
  23,776
  26,532
  29,433
  32,477
  35,662
  38,988
  42,455
  46,066
  49,822
  53,727
  57,785
Tax expense, $m
  56
  95
  149
  222
  319
  443
  599
  789
  1,018
  1,287
  1,619
  1,975
  2,376
  2,823
  3,314
  3,850
  4,429
  5,051
  5,715
  6,419
  7,164
  7,947
  8,769
  9,629
  10,527
  11,463
  12,438
  13,452
  14,506
  15,602
Net income, $m
  152
  256
  402
  600
  862
  1,198
  1,618
  2,133
  2,752
  3,480
  4,377
  5,340
  6,425
  7,631
  8,960
  10,408
  11,975
  13,657
  15,451
  17,356
  19,369
  21,486
  23,708
  26,033
  28,461
  30,992
  33,628
  36,370
  39,220
  42,183

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,549
  2,394
  3,580
  5,195
  7,329
  10,075
  13,524
  17,758
  22,850
  28,861
  35,839
  43,817
  52,814
  62,839
  73,887
  85,948
  99,005
  113,037
  128,020
  143,932
  160,753
  178,465
  197,055
  216,513
  236,838
  258,031
  280,102
  303,065
  326,942
  351,759
Adjusted assets (=assets-cash), $m
  1,549
  2,394
  3,580
  5,195
  7,329
  10,075
  13,524
  17,758
  22,850
  28,861
  35,839
  43,817
  52,814
  62,839
  73,887
  85,948
  99,005
  113,037
  128,020
  143,932
  160,753
  178,465
  197,055
  216,513
  236,838
  258,031
  280,102
  303,065
  326,942
  351,759
Revenue / Adjusted assets
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
  0.728
Average production assets, $m
  677
  1,046
  1,564
  2,269
  3,201
  4,401
  5,907
  7,757
  9,981
  12,607
  15,655
  19,139
  23,069
  27,448
  32,274
  37,542
  43,245
  49,374
  55,919
  62,870
  70,217
  77,954
  86,073
  94,573
  103,451
  112,708
  122,348
  132,379
  142,808
  153,648
Working capital, $m
  -164
  -253
  -378
  -548
  -774
  -1,064
  -1,428
  -1,875
  -2,412
  -3,047
  -3,783
  -4,625
  -5,575
  -6,633
  -7,800
  -9,073
  -10,451
  -11,932
  -13,514
  -15,194
  -16,969
  -18,839
  -20,801
  -22,855
  -25,001
  -27,238
  -29,568
  -31,992
  -34,512
  -37,132
Total debt, $m
  307
  638
  1,101
  1,733
  2,567
  3,641
  4,989
  6,645
  8,636
  10,986
  13,715
  16,834
  20,352
  24,271
  28,591
  33,307
  38,413
  43,899
  49,757
  55,979
  62,556
  69,481
  76,750
  84,358
  92,305
  100,592
  109,221
  118,200
  127,536
  137,239
Total liabilities, $m
  606
  936
  1,400
  2,031
  2,866
  3,939
  5,288
  6,943
  8,934
  11,285
  14,013
  17,132
  20,650
  24,570
  28,890
  33,606
  38,711
  44,197
  50,056
  56,278
  62,855
  69,780
  77,048
  84,657
  92,603
  100,890
  109,520
  118,498
  127,834
  137,538
Total equity, $m
  944
  1,458
  2,180
  3,163
  4,463
  6,136
  8,236
  10,815
  13,916
  17,577
  21,826
  26,685
  32,164
  38,269
  44,997
  52,343
  60,294
  68,839
  77,964
  87,655
  97,899
  108,685
  120,006
  131,856
  144,234
  157,141
  170,582
  184,567
  199,108
  214,221
Total liabilities and equity, $m
  1,550
  2,394
  3,580
  5,194
  7,329
  10,075
  13,524
  17,758
  22,850
  28,862
  35,839
  43,817
  52,814
  62,839
  73,887
  85,949
  99,005
  113,036
  128,020
  143,933
  160,754
  178,465
  197,054
  216,513
  236,837
  258,031
  280,102
  303,065
  326,942
  351,759
Debt-to-equity ratio
  0.330
  0.440
  0.510
  0.550
  0.580
  0.590
  0.610
  0.610
  0.620
  0.630
  0.630
  0.630
  0.630
  0.630
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
Adjusted equity ratio
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609
  0.609

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  152
  256
  402
  600
  862
  1,198
  1,618
  2,133
  2,752
  3,480
  4,377
  5,340
  6,425
  7,631
  8,960
  10,408
  11,975
  13,657
  15,451
  17,356
  19,369
  21,486
  23,708
  26,033
  28,461
  30,992
  33,628
  36,370
  39,220
  42,183
Depreciation, amort., depletion, $m
  106
  124
  149
  184
  229
  288
  361
  451
  560
  688
  764
  934
  1,125
  1,339
  1,574
  1,831
  2,110
  2,409
  2,728
  3,067
  3,425
  3,803
  4,199
  4,613
  5,046
  5,498
  5,968
  6,458
  6,966
  7,495
Funds from operations, $m
  258
  380
  551
  784
  1,091
  1,485
  1,979
  2,585
  3,311
  4,168
  5,141
  6,274
  7,550
  8,970
  10,534
  12,240
  14,084
  16,065
  18,179
  20,423
  22,794
  25,289
  27,907
  30,647
  33,508
  36,490
  39,596
  42,827
  46,187
  49,678
Change in working capital, $m
  -61
  -89
  -125
  -170
  -225
  -290
  -364
  -447
  -538
  -635
  -737
  -842
  -950
  -1,058
  -1,166
  -1,273
  -1,378
  -1,481
  -1,582
  -1,680
  -1,776
  -1,870
  -1,962
  -2,054
  -2,145
  -2,237
  -2,330
  -2,424
  -2,520
  -2,620
Cash from operations, $m
  319
  469
  677
  955
  1,316
  1,775
  2,343
  3,032
  3,849
  4,802
  5,877
  7,116
  8,500
  10,029
  11,700
  13,513
  15,463
  17,546
  19,761
  22,103
  24,569
  27,159
  29,869
  32,701
  35,653
  38,728
  41,926
  45,251
  48,707
  52,298
Maintenance CAPEX, $m
  -21
  -33
  -51
  -76
  -111
  -156
  -215
  -288
  -378
  -487
  -615
  -764
  -934
  -1,125
  -1,339
  -1,574
  -1,831
  -2,110
  -2,409
  -2,728
  -3,067
  -3,425
  -3,803
  -4,199
  -4,613
  -5,046
  -5,498
  -5,968
  -6,458
  -6,966
New CAPEX, $m
  -254
  -369
  -518
  -705
  -932
  -1,200
  -1,506
  -1,849
  -2,224
  -2,626
  -3,048
  -3,485
  -3,930
  -4,379
  -4,826
  -5,268
  -5,703
  -6,129
  -6,545
  -6,951
  -7,347
  -7,737
  -8,120
  -8,499
  -8,878
  -9,257
  -9,641
  -10,030
  -10,429
  -10,840
Cash from investing activities, $m
  -275
  -402
  -569
  -781
  -1,043
  -1,356
  -1,721
  -2,137
  -2,602
  -3,113
  -3,663
  -4,249
  -4,864
  -5,504
  -6,165
  -6,842
  -7,534
  -8,239
  -8,954
  -9,679
  -10,414
  -11,162
  -11,923
  -12,698
  -13,491
  -14,303
  -15,139
  -15,998
  -16,887
  -17,806
Free cash flow, $m
  44
  67
  107
  173
  274
  419
  622
  894
  1,246
  1,690
  2,214
  2,868
  3,636
  4,525
  5,536
  6,670
  7,928
  9,308
  10,808
  12,424
  14,155
  15,997
  17,947
  20,003
  22,162
  24,424
  26,788
  29,253
  31,820
  34,492
Issuance/(repayment) of debt, $m
  228
  330
  464
  631
  834
  1,074
  1,348
  1,655
  1,991
  2,350
  2,728
  3,119
  3,518
  3,919
  4,320
  4,716
  5,105
  5,486
  5,858
  6,222
  6,577
  6,925
  7,268
  7,608
  7,947
  8,287
  8,630
  8,979
  9,336
  9,703
Issuance/(repurchase) of shares, $m
  202
  258
  320
  383
  438
  475
  482
  445
  350
  181
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  430
  588
  784
  1,014
  1,272
  1,549
  1,830
  2,100
  2,341
  2,531
  2,728
  3,119
  3,518
  3,919
  4,320
  4,716
  5,105
  5,486
  5,858
  6,222
  6,577
  6,925
  7,268
  7,608
  7,947
  8,287
  8,630
  8,979
  9,336
  9,703
Total cash flow (excl. dividends), $m
  474
  656
  892
  1,187
  1,546
  1,968
  2,453
  2,995
  3,587
  4,221
  4,943
  5,987
  7,154
  8,444
  9,855
  11,386
  13,033
  14,794
  16,666
  18,646
  20,732
  22,922
  25,215
  27,611
  30,109
  32,711
  35,417
  38,231
  41,156
  44,195
Retained Cash Flow (-), $m
  -354
  -514
  -722
  -983
  -1,300
  -1,673
  -2,100
  -2,578
  -3,101
  -3,661
  -4,250
  -4,858
  -5,479
  -6,105
  -6,728
  -7,345
  -7,952
  -8,545
  -9,125
  -9,691
  -10,244
  -10,787
  -11,321
  -11,850
  -12,378
  -12,907
  -13,441
  -13,985
  -14,541
  -15,113
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  120
  141
  169
  204
  246
  296
  353
  416
  486
  560
  693
  1,129
  1,675
  2,339
  3,127
  4,041
  5,082
  6,249
  7,541
  8,955
  10,488
  12,136
  13,894
  15,761
  17,731
  19,804
  21,976
  24,247
  26,615
  29,082
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  116
  129
  147
  168
  191
  215
  238
  260
  279
  294
  329
  482
  637
  785
  918
  1,027
  1,106
  1,151
  1,161
  1,138
  1,085
  1,007
  911
  803
  690
  578
  472
  375
  291
  219
Current shareholders' claim on cash, %
  91.7
  85.5
  80.9
  77.3
  74.6
  72.5
  71.1
  70.1
  69.5
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2
  69.2

Medpace Holdings, Inc. is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company's drug development services focus on full service Phase I-IV clinical development services and include development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support. The Company also provides bio-analytical laboratory services, clinical human pharmacology, imaging services, and electrocardiography reading support for clinical trials. The Company's operations are principally based in North America, Europe, and Asia.

FINANCIAL RATIOS  of  Medpace Holdings, Inc. (MEDP)

Valuation Ratios
P/E Ratio 195.7
Price to Sales 6
Price to Book 4.2
Price to Tangible Book
Price to Cash Flow 27.6
Price to Free Cash Flow 32.6
Growth Rates
Sales Growth Rate 17.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 133.3%
Cap. Spend. - 3 Yr. Gr. Rate 22.9%
Financial Strength
Quick Ratio 3
Current Ratio 0
LT Debt to Equity 29.5%
Total Debt to Equity 31.4%
Interest Coverage 2
Management Effectiveness
Return On Assets 2.3%
Ret/ On Assets - 3 Yr. Avg. -0.5%
Return On Total Capital 1.6%
Ret/ On T. Cap. - 3 Yr. Avg. -1%
Return On Equity 2.5%
Return On Equity - 3 Yr. Avg. -2.5%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 40.8%
Gross Margin - 3 Yr. Avg. 41.8%
EBITDA Margin 23%
EBITDA Margin - 3 Yr. Avg. 18.1%
Operating Margin 10%
Oper. Margin - 3 Yr. Avg. 5.6%
Pre-Tax Margin 5.2%
Pre-Tax Margin - 3 Yr. Avg. -1.2%
Net Profit Margin 3.1%
Net Profit Margin - 3 Yr. Avg. -1.4%
Effective Tax Rate 40.9%
Eff/ Tax Rate - 3 Yr. Avg. 17.4%
Payout Ratio 0%

MEDP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MEDP stock intrinsic value calculation we used $705 million for the last fiscal year's total revenue generated by Medpace Holdings, Inc.. The default revenue input number comes from 0001 income statement of Medpace Holdings, Inc.. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MEDP stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MEDP is calculated based on our internal credit rating of Medpace Holdings, Inc., is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Medpace Holdings, Inc..
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MEDP stock the variable cost ratio is equal to 85.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MEDP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Medpace Holdings, Inc..

Corporate tax rate of 27% is the nominal tax rate for Medpace Holdings, Inc.. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MEDP stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MEDP are equal to 60%.

Life of production assets of 20.5 years is the average useful life of capital assets used in Medpace Holdings, Inc. operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MEDP is equal to -14.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $589.703 million for Medpace Holdings, Inc. - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 35.773 million for Medpace Holdings, Inc. is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Medpace Holdings, Inc. at the current share price and the inputted number of shares is $2.2 billion.

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