ICON PLC Financials
This page shows ICON PLC (ICLR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
ICON PLC has an operating margin of 13.3%, meaning the company retains $13 of operating profit per $100 of revenue. This strong profitability earns a score of 66/100, reflecting efficient cost management and pricing power. This is up from 11.8% the prior year.
ICON PLC's revenue grew a modest 2.0% year-over-year to $8.3B. This slow but positive growth earns a score of 34/100.
ICON PLC carries a low D/E ratio of 0.36, meaning only $0.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.
ICON PLC's current ratio of 1.26 indicates adequate short-term liquidity, earning a score of 31/100. The company can meet its near-term obligations, though with limited headroom.
ICON PLC converts 13.5% of revenue into free cash flow ($1.1B). This strong cash generation earns a score of 68/100.
ICON PLC's ROE of 8.3% shows moderate profitability relative to equity, earning a score of 33/100. This is up from 6.6% the prior year.
ICON PLC scores 1.56, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
ICON PLC passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, ICON PLC generates $1.63 in operating cash flow ($1.3B OCF vs $791.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
ICON PLC earns $5.3 in operating income for every $1 of interest expense ($1.1B vs $206.2M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
ICON PLC generated $8.3B in revenue in fiscal year 2024. This represents an increase of 2.0% from the prior year.
ICON PLC's EBITDA was $1.6B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2.9% from the prior year.
ICON PLC generated $1.1B in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 9.6% from the prior year.
ICON PLC reported $791.5M in net income in fiscal year 2024. This represents an increase of 29.3% from the prior year.
ICON PLC earned $9.53 per diluted share (EPS) in fiscal year 2024. This represents an increase of 28.8% from the prior year.
ICON PLC held $538.8M in cash against $3.4B in long-term debt as of fiscal year 2024.
ICON PLC had 81M shares outstanding in fiscal year 2024. This represents a decrease of 2.1% from the prior year.
ICON PLC's gross margin was 29.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the prior year.
ICON PLC's operating margin was 13.3% in fiscal year 2024, reflecting core business profitability. This is up 1.5 percentage points from the prior year.
ICON PLC's net profit margin was 9.6% in fiscal year 2024, showing the share of revenue converted to profit. This is up 2.0 percentage points from the prior year.
ICON PLC's ROE was 8.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.7 percentage points from the prior year.
ICON PLC spent $500.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
ICON PLC invested $168.1M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 19.5% from the prior year.
ICLR Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0B+1.3% | $2.0B+0.8% | $2.0B-1.9% | $2.0B-3.7% | $2.1B+1.4% | $2.1B+1.2% | $2.1B+0.5% | $2.1B |
| Cost of Revenue | $1.5B+2.2% | $1.5B+0.9% | $1.4B+0.1% | $1.4B-3.5% | $1.5B+1.5% | $1.5B+1.8% | $1.4B-0.2% | $1.4B |
| Gross Profit | $554.4M-1.3% | $561.6M+0.5% | $558.7M-6.8% | $599.4M-4.3% | $626.6M+1.2% | $619.0M-0.2% | $620.5M+2.4% | $606.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $197.0M-3.9% | $205.0M+3.3% | $198.4M+31.0% | $151.4M-22.1% | $194.5M+9.6% | $177.3M-9.3% | $195.6M+5.6% | $185.2M |
| Operating Income | $86.6M-58.6% | $209.2M-4.7% | $219.6M-26.1% | $297.0M+29.2% | $229.9M-19.5% | $285.5M+7.5% | $265.6M+0.5% | $264.3M |
| Interest Expense | $50.2M+0.2% | $50.2M+5.3% | $47.6M+133.5% | $20.4M-66.5% | $60.8M-15.1% | $71.7M-11.6% | $81.0M-3.4% | $83.9M |
| Income Tax | $35.7M+263.5% | -$21.9M-211.5% | $19.6M+272.0% | -$11.4M-148.8% | $23.3M-17.6% | $28.3M+193.9% | -$30.2M-267.5% | $18.0M |
| Net Income | $2.4M-98.7% | $183.0M+18.7% | $154.2M-40.7% | $260.0M+77.0% | $146.9M-21.6% | $187.4M-13.4% | $216.4M+32.2% | $163.7M |
| EPS (Diluted) | $0.03-98.7% | $2.30+21.1% | $1.90-39.9% | $3.16+79.5% | $1.76-21.8% | $2.25-14.1% | $2.62+33.0% | $1.97 |
ICLR Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $16.5B-0.6% | $16.6B-0.7% | $16.7B-0.9% | $16.9B-0.5% | $17.0B-0.5% | $17.0B+0.3% | $17.0B-0.2% | $17.0B |
| Current Assets | $3.4B+3.0% | $3.3B-3.1% | $3.4B-3.2% | $3.5B-2.0% | $3.6B+1.4% | $3.6B+4.2% | $3.4B-0.3% | $3.4B |
| Cash & Equivalents | $468.9M+20.1% | $390.4M-25.9% | $526.7M-2.2% | $538.8M+6.4% | $506.6M+27.9% | $396.1M+4.8% | $378.1M+20.8% | $313.1M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $1.4B+1.5% | $1.4B-1.5% | $1.4B-1.0% | $1.4B-10.7% | $1.6B-15.7% | $1.9B+4.0% | $1.8B-3.2% | $1.9B |
| Goodwill | $8.9B-1.8% | $9.1B+0.3% | $9.1B+0.2% | $9.1B+0.4% | $9.0B0.0% | $9.0B0.0% | $9.0B+0.4% | $9.0B |
| Total Liabilities | $7.2B+1.8% | $7.0B-2.4% | $7.2B-1.8% | $7.4B-0.4% | $7.4B-3.0% | $7.6B-1.7% | $7.7B-4.0% | $8.1B |
| Current Liabilities | $3.2B+25.9% | $2.6B-4.9% | $2.7B-3.8% | $2.8B+2.0% | $2.7B-6.9% | $2.9B+4.3% | $2.8B-1.6% | $2.9B |
| Long-Term Debt | $2.9B-14.9% | $3.4B-0.2% | $3.4B-0.2% | $3.4B-0.3% | $3.4B-0.3% | $3.4B-6.7% | $3.7B-6.3% | $3.9B |
| Total Equity | $9.3B-2.3% | $9.6B+0.6% | $9.5B-0.2% | $9.5B-0.6% | $9.6B+1.6% | $9.4B+2.1% | $9.2B+3.1% | $9.0B |
| Retained Earnings | $2.3B-9.7% | $2.6B-2.6% | $2.6B-3.5% | $2.7B-1.6% | $2.8B+5.6% | $2.6B+7.7% | $2.4B+9.8% | $2.2B |
ICLR Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $387.6M+165.1% | $146.2M-45.5% | $268.2M-20.7% | $338.3M+54.8% | $218.6M-33.2% | $327.1M-25.7% | $440.1M+28.9% | $341.5M |
| Capital Expenditures | $53.7M+66.4% | $32.3M+11.7% | $28.9M-52.8% | $61.3M+68.9% | $36.3M+33.6% | $27.2M-48.5% | $52.7M+81.1% | $29.1M |
| Free Cash Flow | $333.9M+193.1% | $113.9M-52.4% | $239.3M-13.6% | $277.0M+52.0% | $182.3M-39.2% | $299.9M-22.6% | $387.4M+24.0% | $312.4M |
| Investing Cash Flow | -$56.1M-46.8% | -$38.2M-2.5% | -$37.3M+45.9% | -$68.9M-101.4% | -$34.2M+13.1% | -$39.4M+67.9% | -$122.5M-245.1% | -$35.5M |
| Financing Cash Flow | -$256.8M-0.4% | -$255.9M-1.2% | -$252.8M+37.4% | -$404.0M-463.0% | -$71.8M+72.8% | -$263.7M-3.2% | -$255.5M+1.2% | -$258.7M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $250.0M0.0% | $250.0M0.0% | $250.0M-37.5% | $400.0M | $0 | $0 | $0 | $0 |
ICLR Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.1%-0.7pp | 27.8%-0.1pp | 27.9%-1.5pp | 29.4%-0.2pp | 29.5%-0.1pp | 29.6%-0.4pp | 30.0%+0.5pp | 29.5% |
| Operating Margin | 4.2%-6.1pp | 10.4%-0.6pp | 11.0%-3.6pp | 14.5%+3.7pp | 10.8%-2.8pp | 13.7%+0.8pp | 12.8%0.0pp | 12.9% |
| Net Margin | 0.1%-8.9pp | 9.1%+1.4pp | 7.7%-5.0pp | 12.7%+5.8pp | 6.9%-2.0pp | 9.0%-1.5pp | 10.5%+2.5pp | 8.0% |
| Return on Equity | 0.0%-1.9pp | 1.9%+0.3pp | 1.6%-1.1pp | 2.7%+1.2pp | 1.5%-0.5pp | 2.0%-0.3pp | 2.3%+0.5pp | 1.8% |
| Return on Assets | 0.0%-1.1pp | 1.1%+0.2pp | 0.9%-0.6pp | 1.5%+0.7pp | 0.9%-0.2pp | 1.1%-0.2pp | 1.3%+0.3pp | 1.0% |
| Current Ratio | 1.06-0.2 | 1.29+0.0 | 1.270.0 | 1.26-0.1 | 1.31+0.1 | 1.210.0 | 1.21+0.0 | 1.19 |
| Debt-to-Equity | 0.31-0.0 | 0.350.0 | 0.360.0 | 0.360.0 | 0.360.0 | 0.36-0.0 | 0.40-0.0 | 0.44 |
| FCF Margin | 16.4%+10.7pp | 5.7%-6.3pp | 12.0%-1.6pp | 13.6%+5.0pp | 8.6%-5.8pp | 14.3%-4.4pp | 18.8%+3.6pp | 15.2% |
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Frequently Asked Questions
What is ICON PLC's annual revenue?
ICON PLC (ICLR) reported $8.3B in total revenue for fiscal year 2024. This represents a 2.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is ICON PLC's revenue growing?
ICON PLC (ICLR) revenue grew by 2% year-over-year, from $8.1B to $8.3B in fiscal year 2024.
Is ICON PLC profitable?
Yes, ICON PLC (ICLR) reported a net income of $791.5M in fiscal year 2024, with a net profit margin of 9.6%.
What is ICON PLC's earnings per share (EPS)?
ICON PLC (ICLR) reported diluted earnings per share of $9.53 for fiscal year 2024. This represents a 28.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is ICON PLC's EBITDA?
ICON PLC (ICLR) had EBITDA of $1.6B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does ICON PLC have?
As of fiscal year 2024, ICON PLC (ICLR) had $538.8M in cash and equivalents against $3.4B in long-term debt.
What is ICON PLC's gross margin?
ICON PLC (ICLR) had a gross margin of 29.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is ICON PLC's operating margin?
ICON PLC (ICLR) had an operating margin of 13.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is ICON PLC's net profit margin?
ICON PLC (ICLR) had a net profit margin of 9.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is ICON PLC's return on equity (ROE)?
ICON PLC (ICLR) has a return on equity of 8.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is ICON PLC's free cash flow?
ICON PLC (ICLR) generated $1.1B in free cash flow during fiscal year 2024. This represents a 9.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is ICON PLC's operating cash flow?
ICON PLC (ICLR) generated $1.3B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are ICON PLC's total assets?
ICON PLC (ICLR) had $16.9B in total assets as of fiscal year 2024, including both current and long-term assets.
What are ICON PLC's capital expenditures?
ICON PLC (ICLR) invested $168.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does ICON PLC buy back shares?
Yes, ICON PLC (ICLR) spent $500.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does ICON PLC have outstanding?
ICON PLC (ICLR) had 81M shares outstanding as of fiscal year 2024.
What is ICON PLC's current ratio?
ICON PLC (ICLR) had a current ratio of 1.26 as of fiscal year 2024, which is considered adequate.
What is ICON PLC's debt-to-equity ratio?
ICON PLC (ICLR) had a debt-to-equity ratio of 0.36 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is ICON PLC's return on assets (ROA)?
ICON PLC (ICLR) had a return on assets of 4.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is ICON PLC's Altman Z-Score?
ICON PLC (ICLR) has an Altman Z-Score of 1.56, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is ICON PLC's Piotroski F-Score?
ICON PLC (ICLR) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are ICON PLC's earnings high quality?
ICON PLC (ICLR) has an earnings quality ratio of 1.63x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can ICON PLC cover its interest payments?
ICON PLC (ICLR) has an interest coverage ratio of 5.3x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is ICON PLC?
ICON PLC (ICLR) scores 55 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.