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PAREXEL INTERNATIONAL CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2017 10-K, filed Aug 29, 2017. Its latest SEC filing is a SC 13G/A from Feb 13, 2018.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Manages clinical trials and related research services for pharmaceutical, biotechnology, and medical-device companies, and provides consulting and technology solutions to those industries.

How Did They Make Money?

Clients pay for clinical research and consulting services under fee-for-service or fixed-price contracts, typically with a down payment and later installments tied to milestones; payments come as projects progress.

FY2017 revenue

Who Were Their Customers?

Pharmaceutical, biotechnology, and medical-device companies hire PAREXEL for research and commercialization services; its business-development teams prepare proposals and manage client relationships, coordinating across segments when needed.

Customers above 10% of revenue, FY2017
of revenue from one customer
FY2015: 14% from one customer

Did Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2017 and turned 10 cents into free cash flow.

Operating income, FY2017
8% of revenue
▼ −15% vs FY2016 ($224M, 9%)
Net income, FY2017
4% of revenue
▼ −31% vs FY2016 ($154.9M, 6%)
Free cash flow, FY2017
10% of revenue
▲ +41% vs FY2016 ($165.8M, 7%)

How Were They Changing?

Since the FY2017 annual report
  • Sep 29, 2017 Pamplona completed its acquisition and PAREXEL shares stopped trading

Grew. Revenue grew 22% in 4 years, from $2B in FY2013 to $2.4B in FY2017, about 5% a year.

Who Did They Compete With?

Competes with QuintilesIMS, Laboratory Corporation of America, Pharmaceutical Product Development, INC Research, inVentiv Health, PRA Health Sciences, and Icon

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