ICON plc (ICLR)

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.

Ticker
ICLR
Exchange
Nasdaq
Sector
Healthcare
Industry
Diagnostics & Research
Market cap
$15.34B
52-week range
$66.57 - $219.04

Valuation

Share price
$204.74 (close of Nov 6, 2026)
P/E (TTM)
34.58x
Price to book
1.68x
Price to free cash flow
17.90x
Enterprise value
$18.01B
Book value per share
$121.83

Price performance

PeriodChange
1 day+1.53%
5 days-3.13%
1 month+26.63%
3 months+27.03%
6 months+64.94%
Year to date+12.36%
1 year+27.96%
3 years-20.60%
5 years-23.02%
10 years+167.81%
All time+3,119.50%

Short interest

As of
Oct 15, 2026
Short % of float
4.50%
Shares short
2.97M
Days to cover
3.71
Change since prior report
+5.96%
Source
FINRA consolidated short interest

Members of Congress who disclosed ICLR trades

Kevin Hern · Julia Letlow

Super investors holding ICLR

Bill Nygren (Harris Associates LP) · Glenn Greenberg (Brave Warrior Advisors, LLC) · Greenhaven Associates (Greenhaven Associates Inc) · Ruane Cunniff (Ruane, Cunniff & Goldfarb L.P.) · First Pacific Advisors (First Pacific Advisors, LP) · Ken Griffin (Citadel)

Profitability and growth

Return on equity
2.49%
Return on invested capital
3.29%
Return on assets
1.41%
Return on capital employed
3.39%
Gross margin
14.82%
Net margin
2.78%
EBITDA margin
10.01%
Revenue growth
0.76%
Net income growth
-68.97%
Free cash flow growth
-22.94%

Cash flow and balance sheet

Free cash flow yield (TTM)
5.59%
Current ratio
1.32x
Net debt to EBITDA
3.31x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$8.25B
Cost of revenue
$7.03B
Gross profit
$1.22B
EBITDA
$825.84M
Net income
$229.34M
Earnings per share
$2.92
Interest expense
$197.49M
Shares outstanding
78.42M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$8.25B$1.22B$229.34M$2.92
2024-12-31$8.19B$2.34B$739.13M$8.96
2023-12-31$8.05B$2.33B$554.21M$6.75
2022-12-31$7.74B$2.21B$505.30M$6.20
2021-12-31$5.48B$1.51B$153.19M$2.28
2020-12-31$2.80B$817.40M$332.33M$6.20
2019-12-31$2.81B$831.70M$373.99M$6.85
2018-12-31$2.60B$777.56M$322.66M$5.96
2017-12-31$1.76B$731.13M$281.49M$5.20
2016-12-31$1.67B$705.15M$262.18M$4.75

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3114.82%2.78%2.49%3.29%
2024-12-3128.62%9.03%7.83%7.42%
2023-12-3128.99%6.88%6.02%6.74%
2022-12-3128.60%6.53%5.93%5.51%
2021-12-3127.52%2.79%1.90%2.47%
2020-12-3129.22%11.88%17.96%15.05%
2019-12-3129.64%13.33%23.11%22.19%
2018-12-3129.95%12.43%23.82%19.45%
2017-12-3141.58%16.01%23.63%18.95%
2016-12-3142.31%15.73%27.74%21.16%

Cash and debt by year

Period endCashDebt
2025-12-31$647.29M$2.87B
2024-12-31$538.78M$3.40B
2023-12-31$380.06M$3.67B
2022-12-31$290.48M$4.60B
2021-12-31$753.92M$5.38B
2020-12-31$842.03M$348.48M
2019-12-31$569.90M-
2018-12-31$455.76M$349.26M
2017-12-31$360.45M$348.89M
2016-12-31$260.59M$348.51M

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$861.99M$102.04M
2024-12-31$1.12B$45.87M
2023-12-31$1.02B$55.67M
2022-12-31$421.15M$70.52M
2021-12-31$735.39M$133.84M
2020-12-31$527.15M$26.27M
2019-12-31$373.59M$26.82M
2018-12-31$220.24M$31.59M
2017-12-31$338.37M$30.57M
2016-12-31$216.60M$40.34M

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-10-27Sep 2026$2.40
2026-07-29Jun 2026$2.26
2026-06-23Mar 2026$2.16
2026-05-27Dec 2025-
2025-10-22Sep 2025$3.14
2025-07-23Jun 2025$3.08
2025-04-30Mar 2025$2.97
2025-02-19Dec 2024$3.28

Filings and sources

Company website
iconplc.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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