ICLR Stock Analysis: ICON | NASDAQ
Diagnostics & Research | NASDAQ, USA | Market Cap: 15.107m USD | 12M Return: 28% | IE0005711209 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 207M
EPS Trend: -78.1%
Qual. Beats: 0
Rev. Trend: 24.5%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
ICON Public Limited Company is a Dublin-based clinical research organization (CRO) that provides outsourced drug development and commercialization services to pharmaceutical, biotechnology, medical device, and government clients worldwide. Its offerings span the full clinical lifecycle-from compound selection through Phase I-IV trials-and include clinical trial management, data solutions, site and patient access, bioanalytical and central laboratory testing, and post-market commercialization support. The company also delivers specialized capabilities such as decentralized and hybrid trials, adaptive trial design, cardiac safety, medical imaging, and real-world evidence, with therapeutic expertise across cardiovascular, central nervous system, oncology, infectious diseases, immunology, hepatology, and endocrine/metabolic disorders.
ICON operates within the contract research organization sector, which provides pharmaceutical and biotech sponsors with outsourced clinical development infrastructure, and the company is recognized among the worlds largest CROs. The business model is structured around both full-service and functional service partnerships, allowing clients to outsource either end-to-end trial execution or targeted operational components such as data management, biostatistics, or laboratory services.
- Biotech R&D spending sustains demand for clinical trials
- Decentralized trial capabilities capture post-pandemic market share
- PRA Health acquisition drives margin expansion and cross-selling
| Net Income: 189.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -0.90 > 1.0 |
| NWC/Revenue: 10.50% < 20% (prev 2.34%; Δ 8.16% < -1%) |
| CFO/TA 0.06 > 3% & CFO 1.00b > Net Income 189.3m |
| Net Debt (2.80b) to EBITDA (867.7m): 3.22 < 3 |
| Current Ratio: 1.32 > 1.5 & < 3 |
| Outstanding Shares: last quarter (77.4m) vs 12m ago -0.87% < -2% |
| Gross Margin: 21.23% > 18% (prev 26.85%; Δ -5.62% > 0.5%) |
| Asset Turnover: 50.76% > 50% (prev 49.08%; Δ 1.68% > 0%) |
| Interest Coverage Ratio: 2.47 > 6 (EBIT TTM 501.4m / Interest Expense TTM 203.1m) |
| A: 0.05 (Total Current Assets 3.64b - Total Current Liabilities 2.77b) / Total Assets 16.2b |
| B: 0.12 (Retained Earnings 2.02b / Total Assets 16.2b) |
| C: 0.03 (EBIT TTM 501.4m / Avg Total Assets 16.4b) |
| D: 1.28 (Book Value of Equity 9.13b / Total Liabilities 7.12b) |
| Altman-Z'' = 2.31 = BBB |
| DSRI: 0.95 (Receivables 2.72b/2.80b, Revenue 8.31b/8.10b) |
| GMI: 1.26 (GM 26.85% / 21.23%) |
| AQI: 0.98 (AQ_t 0.75 / AQ_t-1 0.76) |
| SGI: 1.03 (Revenue 8.31b / 8.10b) |
| TATA: -0.05 (NI 189.3m - CFO 1.00b) / TA 16.2b) |
| Beneish M = -2.83 (Cap -4..+1) = A |
As of November 10, 2026, the stock is trading at USD 207.59 with a total of 1,043,631 shares traded. Over the past week, the price has changed by -3.13%, over one month by +26.63%, over three months by +27.03% and over the past year by +27.96%.
Current recommended Stop Loss: 197.40 (which is 4.9% or 1.1 ATR below the current price).
ICON has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy ICLR.
- StrongBuy: 9
- Buy: 1
- Hold: 7
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 231.3 | 11.4% |
P/E Trailing = 80.66
P/E Forward = 17.8253
P/S = 1.8345
P/B = 1.6662
P/EG = 0.5589
Revenue TTM = 8.31b USD
EBIT TTM = 501.4m USD
EBITDA TTM = 867.7m USD
Long Term Debt = 3.38b USD (from longTermDebt, last quarter)
Short Term Debt = 32.9m USD (from shortTermDebt, last quarter)
Debt = 3.61b USD (from shortLongTermDebtTotal, last quarter) + Leases 97.1m
Net Debt = 2.80b USD (calculated: Debt 3.61b - CCE 809.0m)
Enterprise Value = 17.9b USD (15.1b + Debt 3.61b - CCE 809.0m)
Interest Coverage Ratio = 2.47 (Ebit TTM 501.4m / Interest Expense TTM 203.1m)
EV/FCF = 21.46x (Enterprise Value 17.9b / FCF TTM 834.4m)
FCF Yield = 4.66% (FCF TTM 834.4m / Enterprise Value 17.9b)
FCF Margin = 10.04% (FCF TTM 834.4m / Revenue TTM 8.31b)
Net Margin = 2.28% (Net Income TTM 189.3m / Revenue TTM 8.31b)
Gross Margin = 21.23% ((Revenue TTM 8.31b - Cost of Revenue TTM 6.55b) / Revenue TTM)
Gross Margin QoQ = 19.63% (prev 18.83%)
Tobins Q-Ratio = 1.10 (Enterprise Value 17.9b / Total Assets 16.2b)
Interest Expense / Debt = 5.63% (Interest Expense 203.1m / Debt 3.61b)
Taxrate = 25.41% (64.5m / 253.8m)
NOPAT = 374.0m (EBIT 501.4m * (1 - 25.41%))
Current Ratio = 1.32 (Total Current Assets 3.64b / Total Current Liabilities 2.77b)
Debt / Equity = 0.40 (Debt 3.61b / totalStockholderEquity, last quarter 9.13b)
Debt / EBITDA = 3.22 (Net Debt 2.80b / EBITDA 867.7m)
Debt / FCF = 3.35 (Net Debt 2.80b / FCF TTM 834.4m)
Total Stockholder Equity = 9.25b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.16% (Net Income 189.3m / Total Assets 16.2b)
RoE = 2.05% (Net Income TTM 189.3m / Total Stockholder Equity 9.25b)
RoCE = 3.97% (EBIT 501.4m / Capital Employed (Equity 9.25b + L.T.Debt 3.38b))
RoIC = 2.86% (NOPAT 374.0m / Invested Capital 13.1b)
WACC = 7.11% (E(15.1b)/V(18.7b) * Re(7.80%) + D(3.61b)/V(18.7b) * Rd(5.63%) * (1-Tc(0.25)))
Discount Rate = 7.80% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -92.19 | Cagr: -3.24%
[DCF] Terminal Value 73.10% ; FCFF base≈898.9m ; Y1≈788.3m ; Y5≈636.9m
[DCF] Fair Price = 99.12 (EV 10.2b - Net Debt 2.80b = Equity 7.43b / Shares 74.9m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -78.09 | EPS CAGR: -10.34% | SUE: 0.18 | # QB: 0
Revenue Correlation: 24.49 | Revenue CAGR: 0.30% | SUE: 0.13 | # QB: 0
EPS current Quarter (2027-03-31): EPS=2.70 | Chg30d=-2.25% | Revisions=-17% | Analysts=10
EPS current Year (2026-12-31): EPS=10.59 | Chg30d=+0.13% | Revisions=-50% | GrowthEPS=-15.5% | GrowthRev=-1.1%
EPS next Year (2027-12-31): EPS=11.60 | Chg30d=-1.85% | Revisions=-63% | GrowthEPS=+9.5% | GrowthRev=+4.6%
[Analyst] Revisions Ratio: -62% (up=4, down=22)