MEDP
Medpace Holdings, Inc.
Is MEDP Halal?
Clinical research and medical-device development services are generally permissible at the activity level, while Medpace's current filing shows no indebtedness, low disclosed interest income and a financially passing screen.
What You Should Know
Medpace's March 31, 2026 Form 10-Q reports $2,129.613 million of total assets, $652.681 million of cash, $394.581 million of accounts receivable and unbilled, $706.604 million of quarterly revenue, and $5.117 million of net interest income. Medpace states that it had no indebtedness. ZakatInvest's current contextual calculations are debt/assets 0.00%, liquidity 30.65%, receivables plus cash/assets 49.18%, and net interest income/revenue 0.72%. Clinical research and medical-device development services remain generally permissible at the activity level, but downstream client products and trial ethics require continuing review. This is a current ZakatInvest calculation, not an index-membership claim.
⚠️ Concerns
- •Disclosed net interest income is 0.72% of quarterly revenue; purification treatment remains methodology- and scholar-specific
- •Medpace's downstream pharmaceutical and biotech clients may develop products with alcohol-containing formulations, porcine-derived excipients or other product-specific issues that the filing does not allocate
- •Clinical-trial ethics, informed consent, participant safety, data integrity and access to therapies require continuing review
- •Biotech funding cycles, sponsor concentration and trial cancellations can affect bookings and revenue
- •Related-party service agreements with executive-connected biotech companies require governance and conflict-of-interest diligence
- •An April 6, 2026 securities class-action complaint concerning book-to-bill disclosures is unresolved and should be monitored
- •Market-cap denominator methods are not calculated without a licensed historical market-cap series
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
0 / 2,129.613
652.681 / 2,129.613
1,047.262 / 2,129.613
5.117 / 706.604
- Financial
- Pass
- Overall
- Incomplete
Debt is 0.00%, liquidity is 30.65%, receivables plus cash/assets is 49.18%, and disclosed net interest income/revenue is 0.72%; the examined financial ratios pass. The screened downstream-client revenue percentage remains unavailable.
- Financial
- Fails
- Overall
- Fails
Debt and liquidity pass the examined limits, but receivables plus cash/assets is 49.18%, above the examined MSCI total-assets receivables limit. This is a calculation against the named method, not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
Debt is 0.00%, liquidity is 30.65% and disclosed interest income is 0.72%; the examined financial ratios pass. This is a calculation against the SAC ratios, not an official classification of a U.S.-listed security.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
Medpace provides general-purpose clinical research-based drug and medical-device development services, including Phase I-IV trial design and management, regulatory affairs, clinical monitoring, data management, pharmacovigilance, laboratory and imaging services. These services are generally permissible at the activity level under standard Sharia screening.
Limitation: Medpace does not classify revenue by downstream pharmaceutical formulation, animal-derived excipient, alcohol carrier, client end use or other product-level details. No exact prohibited-revenue percentage can be proven from consolidated service reporting.
Purification
Disclosed net interest income is 0.72% of quarterly revenue. A screened downstream-client revenue numerator is not separately disclosed, so this record does not prescribe a fixed purification percentage.
Inputs, assumptions and primary sources
- Inputs use Medpace's March 31, 2026 Form 10-Q; amounts are USD millions converted from the filing's thousands presentation.
- Medpace states that it had no indebtedness as of March 31, 2026. Operating lease liabilities are disclosed separately and are not silently treated as interest-bearing debt.
- The filing does not report a separate interest-bearing securities portfolio; cash and cash equivalents of $652.681 million are not double-counted as securities.
- Accounts receivable and unbilled, net of $394.581 million are used as the receivables proxy.
- Quarterly revenue is $706.604 million and net interest income is $5.117 million. The filing does not provide a universal prohibited-revenue numerator for downstream client products or end uses.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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