Medpace Holdings Inc (MEDP)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	359,054	356,986	217,399	179,208	135,042
Revenue	US$ in thousands	1,883,940	1,519,300	1,145,160	926,439	860,388
Gross profit margin		19.06%	23.50%	18.98%	19.34%	15.70%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $359,054K ÷ $1,883,940K
= 19.06%

The gross profit margin of Medpace Holdings Inc has exhibited some fluctuations over the past five years. In 2023, the gross profit margin was 27.81%, showing a slight decrease from the previous year's margin of 29.62%. Throughout this period, the margins have generally remained in the range of 27% to 30%, indicating some stability in the company's ability to generate profits from its core operations after accounting for the cost of goods sold. It is worth noting that the margin was lowest in 2019 at 28.54% and highest in 2020 at 30.10%. Further analysis would be required to understand the factors driving these fluctuations and to assess the overall efficiency and profitability of Medpace Holdings Inc.