Medpace: 'Buy' On Financial Metric Improvements And Solid Q2 2026 Earnings

Medpace Holdings remains a "Buy" as Q2 2026 showed broad metric improvement and an inflection point in growth trajectory. The company's net book-to-Bill ratio rebounded to 1.13x, and backlog conversion rate rose to 24.1%, signaling strong future revenue visibility. Revenue grew 17.2% YoY to $707.3M, with EPS of $4.25 beating expectations; full-year 2026 guidance was raised to $2.805B–$2.885B. Growth is driven by small biopharma clients [84% of revenue] and robust expansions in Metabolic and Oncology therapeutic areas.