ICON (ICLR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

ICON

NasdaqGS•Healthcare•Diagnostics & Research

$173.94+1.49(0.01%)After hours

Market Cap

$13.46B

P/E

193.5x

P/S

1.6x

P/B

1.4x

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies. It also provides clinical development services, including all phases of development, peri and post approval, data solutions, and site and patient access services; clinical trial management, consulting, contract staffing, data solutions, and laboratory services; and commercial services comprising clinical development strategy, planning and trial design, full study execution, and post-market commercialization. In addition, the company offers testing services comprising bioanalytical, biomarker, vaccine, good manufacturing practice, and central laboratory services, as well as full-service and functional service partnerships to customers. Further, the company provides adaptive trials, cardiac safety solutions, clinical and scientific operations, consulting and advisory, commercial positioning, decentralized and hybrid clinical trials, early clinical, medical imaging, real world intelligence, site and patient, and strategic solutions. Additionally, it provides therapeutics for cardiovascular, central nervous system, endocrine and metabolic disorders, hepatology, infectious diseases, internal medicine immunology, and oncology. It serves pharmaceutical, biotechnology, and medical device industries, as well as government and public health organizations. ICON Public Limited Company was incorporated in 1989 and is headquartered in Dublin, Ireland.

How this company scores

AverageMetricSide Score: 56/100

Strongest: Balance Sheet & Red Flags (18/25); weakest: Growth (9/25).

Profitability11/25

Growth9/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality18/25

Strengths

Low leverageCash-backed earningsConsistent free cash flowImproving leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 192.4x5y range 14.6x – 192.4x

Currently above its 20-quarter median.

P/S · 1.6x5y range 1.0x – 5.0x

Currently below its 20-quarter median.

P/B · 1.4x5y range 0.9x – 3.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Margin Pressure

Watch

Operating margins declined 17.6% — watch for continued compression, which may signal competitive or cost pressure.

Price & Volume

Market Cap $13.46B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $8.33B
Q. Revenue: $2.06B
TTM EBITDA: $758.05M
TTM Op. Income: $857.22M
Q. Op. Income: $194.21M
TTM Net Income: $69.55M
Q. Net Income: $72.58M
EPS: N/A
Shares Out.: $77.37M

$8.33B in TTM revenue grew 3.0% YoY, reaching $2.06B last quarter. TTM EBITDA of $758.05M and TTM operating income of $857.22M show growth is flowing through to the bottom line. TTM net income of $69.55M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 14.2%
Op. Margin: 9.4%
Net Margin: 3.5%

Op. margin of 9.4% is down 1.0% YoY — costs are rising relative to revenue. Net margin at 3.5% Over the past year, operating margin is down 9% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 192.4x
P/S Ratio: 1.6x
P/B Ratio: 1.4x

At 192.4x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 1.6x and P/B of 1.4x provide additional context. P/E sits above typical market levels while revenue growth is below 5%. Over the past year, P/E is up 1221% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $16.40B
Cash: $928.38M
Long-Term Debt: $2.11B
Book Value: $9.38B
D/E Ratio: 0.2
Debt/EBITDA: 7.2

With $16.40B in assets and $2.11B in long-term debt, D/E is 0.2and book value is $9.38B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

TTM Free Cash Flow: $898.30M
FCF Margin: 10.8%
FCF / Net Income: 12.9

TTM FCF of $898.30M. The FCF / Net Income ratio of 12.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 10% — an improving trend.