Pay vs Performance Disclosure - USD ($) | 12 Months Ended |
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pay vs Performance Disclosure | | | | |
Pay vs Performance Disclosure, Table | Year (1) Summary Compensation Table Total for PEO (2) Compensation Actually Paid to PEO (3) Average Compensation Table Total for Other NEOs (4) Average Compensation Actually Paid to Other NEOs (3) Value of Initial Fixed $100 Investment Based on: (5) Net Income (thousands) (6) Company Selected Measure Medpace's Total Stockholder Return Peer Group Total Stockholder Return EBITDA (thousands) (7) 2023 $1,646,031 $9,259,322 $918,625 $4,765,822 $364.66 $106.34 $282,810 $362,498 2022 $1,885,034 $12,885,590 $1,042,447 $3,352,260 $252.69 $99.81 $245,368 $308,106 2021 $5,947,423 $7,745,980 $1,972,002 $3,951,123 $258.91 $125.43 $181,848 $223,076 2020 $4,136,810 $5,986,345 $1,790,406 $3,906,530 $165.60 $130.04 $145,384 $187,753 | | | |
Company Selected Measure Name | EBITDA | | | |
Named Executive Officers, Footnote | For 2020 through 2023, our PEO was August J. Troendle. For 2023, 2022 and 2021, our Other NEOs were Kevin M. Brady, Jesse J. Geiger, Susan E. Burwig and Stephen P. Ewald. For 2020, our Other NEOs were Jesse J. Geiger, Susan E. Burwig and Stephen P. Ewald. | | | |
Peer Group Issuers, Footnote | The peer group used for purposes of this table for each listed fiscal year is the NASDAQ Healthcare Index (IXHC), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Form 10-K for the year ended December 31, 2023. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the IXHC, respectively. No dividends were paid on stock or option awards in 2023, 2022, 2021 or 2020. Historical stock performance is not necessarily indicative of future stock performance. | | | |
PEO Total Compensation Amount | $ 1,646,031 | $ 1,885,034 | $ 5,947,423 | $ 4,136,810 |
PEO Actually Paid Compensation Amount | $ 9,259,322 | 12,885,590 | 7,745,980 | 5,986,345 |
Adjustment To PEO Compensation, Footnote | The dollar amounts reported in this column represent the amount of “compensation actually paid” to the PEO and Other NEOs, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the PEO or Other NEOs during the applicable year. In accordance with the requirements, the following adjustments were made to the PEO and Other NEOs’ total compensation for each year to determine the "compensation actually paid": 2023 2022 2021 2020 PEO Other NEOs PEO Other NEOs PEO Other NEOs PEO Other NEOs Summary Compensation Table Total $1,646,031 $918,625 $1,885,034 $1,042,447 $5,947,423 $1,972,002 $4,136,810 $1,790,406 Less grant date value of equity awards (a) $— $— $(206,460) $(206,460) $(4,409,925) $(1,217,789) $(3,004,695) $(1,118,406) Increase/decrease for the Inclusion of Rule 402(v) Equity Values (b) $7,613,291 $3,847,197 $11,207,016 $2,516,273 $6,208,482 $3,196,910 $4,854,230 $3,234,530 Compensation Actually Paid $9,259,322 $4,765,822 $12,885,590 $3,352,260 $7,745,980 $3,951,123 $5,986,345 $3,906,530 (a) The grant date value of equity awards represents the total of the amounts reported in the Stock Awards and Option Awards columns from the relevant fiscal year’s Summary Compensation Table total. (b) The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in the same applicable year, the fair value as of the vesting date; and (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The amounts added or deducted in calculating the equity award adjustments are as follows: 2023 2022 2021 2020 PEO Other NEOs PEO Other NEOs PEO Other NEOs PEO Other NEOs Year End Fair Value of Outstanding and Unvested Equity Awards Granted in the Year $306,530 $306,530 $10,795,139 $2,981,049 $5,193,390 $1,517,468 $1,801,387 $812,047 Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years $8,272,210 $3,540,667 $411,877 $117,240 $1,015,092 $1,405,730 $— $1,478,375 Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year $— $— $— $— $— $— $1,163,843 $524,624 Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year $(965,449) $— $— $(582,016) $— $273,712 $1,889,000 $419,484 Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year $— $— $— $— $— $— $— $— Value of Dividends or Other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation $— $— $— $— $— $— $— $— Total Equity Award Adjustments $7,613,291 $3,847,197 $11,207,016 $2,516,273 $6,208,482 $3,196,910 $4,854,230 $3,234,530 A significant portion of the values for Compensation Actually Paid to our PEO and Other NEOs are attributable to equity adjustments that are based on our stock price as of the last day of the applicable fiscal year. The values for Compensation Actually Paid could have been significantly less if a date other than the last day of the applicable fiscal year was utilized because our stock price at the end of each year has been in the 90th percentile of each year's 52-week high. In 2020, our stock price fluctuated from a low of $58.72 per share to a high of $150.57. The closing price of $139.20 on December 31, 2020, represents 92.4% of our 52-week high for 2020. In 2021, our stock price fluctuated from a low of $130.74 per share to a high of $231.00. The closing price of $217.64 on December 31, 2021, represents 94.2% of our 52-week high for 2021. In 2022, our stock price fluctuated from a low of $126.95 per share to a high of $235.72. The closing share price of $212.41 on December 30, 2022 (the last trading day of the fiscal year) represents 90.1% of our 52-week high for 2022. In 2023, our stock price fluctuated from a low of $167.00 per share to a high of $317.57. The closing share price of $306.53 on December 29, 2023 (the last trading day of the fiscal year) represents 96.5% of our 52-week high for 2023. | | | |
Non-PEO NEO Average Total Compensation Amount | $ 918,625 | 1,042,447 | 1,972,002 | 1,790,406 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 4,765,822 | 3,352,260 | 3,951,123 | 3,906,530 |
Adjustment to Non-PEO NEO Compensation Footnote | The dollar amounts reported in this column represent the amount of “compensation actually paid” to the PEO and Other NEOs, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the PEO or Other NEOs during the applicable year. In accordance with the requirements, the following adjustments were made to the PEO and Other NEOs’ total compensation for each year to determine the "compensation actually paid": 2023 2022 2021 2020 PEO Other NEOs PEO Other NEOs PEO Other NEOs PEO Other NEOs Summary Compensation Table Total $1,646,031 $918,625 $1,885,034 $1,042,447 $5,947,423 $1,972,002 $4,136,810 $1,790,406 Less grant date value of equity awards (a) $— $— $(206,460) $(206,460) $(4,409,925) $(1,217,789) $(3,004,695) $(1,118,406) Increase/decrease for the Inclusion of Rule 402(v) Equity Values (b) $7,613,291 $3,847,197 $11,207,016 $2,516,273 $6,208,482 $3,196,910 $4,854,230 $3,234,530 Compensation Actually Paid $9,259,322 $4,765,822 $12,885,590 $3,352,260 $7,745,980 $3,951,123 $5,986,345 $3,906,530 (a) The grant date value of equity awards represents the total of the amounts reported in the Stock Awards and Option Awards columns from the relevant fiscal year’s Summary Compensation Table total. (b) The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in the same applicable year, the fair value as of the vesting date; and (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The amounts added or deducted in calculating the equity award adjustments are as follows: 2023 2022 2021 2020 PEO Other NEOs PEO Other NEOs PEO Other NEOs PEO Other NEOs Year End Fair Value of Outstanding and Unvested Equity Awards Granted in the Year $306,530 $306,530 $10,795,139 $2,981,049 $5,193,390 $1,517,468 $1,801,387 $812,047 Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years $8,272,210 $3,540,667 $411,877 $117,240 $1,015,092 $1,405,730 $— $1,478,375 Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year $— $— $— $— $— $— $1,163,843 $524,624 Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year $(965,449) $— $— $(582,016) $— $273,712 $1,889,000 $419,484 Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year $— $— $— $— $— $— $— $— Value of Dividends or Other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation $— $— $— $— $— $— $— $— Total Equity Award Adjustments $7,613,291 $3,847,197 $11,207,016 $2,516,273 $6,208,482 $3,196,910 $4,854,230 $3,234,530 A significant portion of the values for Compensation Actually Paid to our PEO and Other NEOs are attributable to equity adjustments that are based on our stock price as of the last day of the applicable fiscal year. The values for Compensation Actually Paid could have been significantly less if a date other than the last day of the applicable fiscal year was utilized because our stock price at the end of each year has been in the 90th percentile of each year's 52-week high. In 2020, our stock price fluctuated from a low of $58.72 per share to a high of $150.57. The closing price of $139.20 on December 31, 2020, represents 92.4% of our 52-week high for 2020. In 2021, our stock price fluctuated from a low of $130.74 per share to a high of $231.00. The closing price of $217.64 on December 31, 2021, represents 94.2% of our 52-week high for 2021. In 2022, our stock price fluctuated from a low of $126.95 per share to a high of $235.72. The closing share price of $212.41 on December 30, 2022 (the last trading day of the fiscal year) represents 90.1% of our 52-week high for 2022. In 2023, our stock price fluctuated from a low of $167.00 per share to a high of $317.57. The closing share price of $306.53 on December 29, 2023 (the last trading day of the fiscal year) represents 96.5% of our 52-week high for 2023. | | | |
Compensation Actually Paid vs. Total Shareholder Return | Relationship Between Compensation Actually Paid and Total Stockholder Return The table below reflects the relationship between the compensation actually paid for the PEO and the average Other NEOs versus the Company's TSR and the peer group TSR, assuming an initial fixed investment of $100 for the years ended December 31, 2023, 2022, 2021, and 2020. | | | |
Compensation Actually Paid vs. Net Income | Relationship Between Compensation Actually Paid and Net Income The table below reflects the relationship between the compensation actually paid for the PEO and the average Other NEOs versus the Company's Net Income for the years ended December 31, 2023, 2022, 2021, and 2020. | | | |
Compensation Actually Paid vs. Company Selected Measure | Relationship Between Compensation Actually Paid and EBITDA The table below reflects the relationship between the compensation actually paid for the PEO and the average Other NEOs versus the Company's EBITDA for the years ended December 31, 2023, 2022, 2021, and 2020. | | | |
Total Shareholder Return Vs Peer Group | Relationship Between Compensation Actually Paid and Total Stockholder Return The table below reflects the relationship between the compensation actually paid for the PEO and the average Other NEOs versus the Company's TSR and the peer group TSR, assuming an initial fixed investment of $100 for the years ended December 31, 2023, 2022, 2021, and 2020. | | | |
Tabular List, Table | Most Important Performance Measures EBITDA (as defined on page 37 Revenue (Defined as the Company's GAAP Revenue from our Consolidated Statements of Income) Net Income (Defined as the Company's GAAP Net Income from our Consolidated Statements of Income) Earnings Per Share (Defined as the Company's GAAP Diluted Earnings Per Share from our Consolidated Statements of Income) | | | |
Total Shareholder Return Amount | $ 364.66 | 252.69 | 258.91 | 165.60 |
Peer Group Total Shareholder Return Amount | 106.34 | 99.81 | 125.43 | 130.04 |
Net Income (Loss) | $ 282,810,000 | $ 245,368,000 | $ 181,848,000 | $ 145,384,000 |
Company Selected Measure Amount | 362,498,000 | 308,106,000 | 223,076,000 | 187,753,000 |
PEO Name | August J. Troendle | August J. Troendle | August J. Troendle | August J. Troendle |
Additional 402(v) Disclosure | The dollar amounts reported in this column are the amounts of total compensation reported for Mr. Troendle for each corresponding year in the "Total" column of the Summary Compensation Table. The dollar amounts reported in this column are the average amounts of total compensation reported for Other NEOs for each corresponding year in the "Total" column of the Summary Compensation Table. | | | |
Measure:: 1 | | | | |
Pay vs Performance Disclosure | | | | |
Name | EBITDA (as defined on page 37) | | | |
Non-GAAP Measure Description | EBITDA was chosen from the following four most important financial performance measures, as it represents the most important financial performance measure used to align compensation actually paid to the PEO and other NEOs in 2023 to the Company's performance: | | | |
Measure:: 2 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Revenue (Defined as the Company's GAAP Revenue from our Consolidated Statements of Income) | | | |
Measure:: 3 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Net Income (Defined as the Company's GAAP Net Income from our Consolidated Statements of Income) | | | |
Measure:: 4 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Earnings Per Share (Defined as the Company's GAAP Diluted Earnings Per Share from our Consolidated Statements of Income) | | | |
PEO | Equity Awards Reported Value [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ 0 | $ (206,460) | $ (4,409,925) | $ (3,004,695) |
PEO | Equity Award Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 7,613,291 | 11,207,016 | 6,208,482 | 4,854,230 |
PEO | Equity Awards Granted During the Year, Unvested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation Amount, Equity Awards | 306,530 | 10,795,139 | 5,193,390 | 1,801,387 |
PEO | Equity Awards Granted in Prior Years, Unvested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation Amount, Equity Awards | 8,272,210 | 411,877 | 1,015,092 | 0 |
PEO | Equity Awards Granted During the Year, Vested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 | 1,163,843 |
PEO | Equity Awards Granted in Prior Years, Vested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation Amount, Equity Awards | (965,449) | 0 | 0 | 1,889,000 |
PEO | Equity Awards that Failed to Meet Vesting Conditions [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 | 0 |
PEO | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 | 0 |
Non-PEO NEO | Equity Awards Reported Value [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 0 | (206,460) | (1,217,789) | (1,118,406) |
Non-PEO NEO | Equity Award Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 3,847,197 | 2,516,273 | 3,196,910 | 3,234,530 |
Non-PEO NEO | Equity Awards Granted During the Year, Unvested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation Amount, Equity Awards | 306,530 | 2,981,049 | 1,517,468 | 812,047 |
Non-PEO NEO | Equity Awards Granted in Prior Years, Unvested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation Amount, Equity Awards | 3,540,667 | 117,240 | 1,405,730 | 1,478,375 |
Non-PEO NEO | Equity Awards Granted During the Year, Vested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 | 524,624 |
Non-PEO NEO | Equity Awards Granted in Prior Years, Vested [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation Amount, Equity Awards | 0 | (582,016) | 273,712 | 419,484 |
Non-PEO NEO | Equity Awards that Failed to Meet Vesting Conditions [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 | 0 |
Non-PEO NEO | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation Amount, Equity Awards | $ 0 | $ 0 | $ 0 | $ 0 |