Investors expect Medpace Holdings to outperform the market, hence its high P/E ratio. Strong future growth anticipation makes investors pay more for the stock, supporting the share price.
Medpace Holdings' robust conversion of profit to free cash flow is promising. Its underlying earnings potential may even surpass the statutory profit. Its earnings per share have seen a remarkable growth over the past three years.
Medpace Holdings' market sentiment remains steady, mirroring EPS growth. The stock's recent performance shows improvement, with a 90% shareholder return over the last year, surpassing the five-year TSR of 41% per year. The strong share price momentum suggests a closer look at the stock may be worthwhile.
Medpace's high P/E is backed by its forecast growth being higher than the wider market. Investors are quite confident in the company's future earnings and seem willing to pay more for the stock, suggesting a bullish outlook.
Insider selling at current price (US$274) is less worrying, but there were no purchases over the past year to boost confidence. A high level of insider ownership often implies interests of all shareholders are considered, though recent history of share sales triggers some hesitation.
Medpace's market sentiment appears constant over years, mirroring its EPS growth. The company's five-year total shareholder return of 38% per year impresses.
Medpace股票討論區
新增數據:23Q4,營收快速增長,利潤增速有所放緩。
2023年營收增長29.2%,營業利潤受毛利率下滑影響增長20.9%,淨利潤受所得稅波動影響增長15.3%。5年淨利潤平均增速爲31%,近3年降到了25%,淨資產收益率提高到了60%。
資產負債率從71.4%下降到了66.3%,總資產和淨資產都有較大幅度增長。資產端主要是現金的增長,負債端短期借款還清,主要是無息負債有所增長。
現金流經營淨額繼續大幅高於投資淨額,股東盈餘很多。
目前市盈率45,估值在合理區間略高位置,由於整體增長趨勢和資產負債表都非常優秀,暫時沒有調整的必要。
2023Q1營收增長31.2%,營業利潤增長34.3%,淨利潤受所得稅波動影響僅增長18.9%。
5年來資產負債率從39%上升到71.4%,應收賬款比例和增速都算正常,沒有存貨。
商譽7億,是3.47億淨資產的兩倍,資產含金量很低。
最近短期借款增長很快,可能是業務增長過快對運營資本需求增大的影響。
股本一直在下降,說明公司回購股票後直接註銷,這對每股收益提升很有好處。
5年來現金流經營淨額遠高於投資淨額,股東盈餘很多。
目前市盈率33.6,市盈率TTM已經下降到31.2,可以選擇(⭐️⭐️)
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