# ICON plc (ICLR) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Healthcare / Life Science Tools. Price $203.77, market value $15.3 billion.

## Valuation
- **P/E (trailing): 81.5×** (5-yr avg 59.6×, 3-yr avg 42.9×). ICON plc trades at 81.5× trailing earnings, well above its own five-year average of 59.6×: investors are paying up relative to the company's past. The Healthcare median in the September 2026 study was 28.5×. Forward P/E is 17.6×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.8×**. Each dollar of revenue is priced at 1.8×.
- **Price / book: 1.7×**. The shares trade at 1.7× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 21.7×**. Enterprise value is 21.7× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 5.6%** (5-yr avg 4.6%). Free cash flow equals 5.6% of the market value, above its five-year average of 4.6%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 1.2%**. The inverse of the P/E: 1.2% of the price is earned each year.

## Profitability
- **Gross margin: 23.5%**. ICON plc keeps 23.5% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 9.8%**. 9.8% of revenue is left after running the business.
- **Net margin: 2.8%**. 2.8% of each dollar of sales reaches the bottom line.
- **Return on equity: 2.5%**. 2.5% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 5.2%**. Return on all capital, debt included, is 5.2%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 1.2%**. Each dollar of assets produces 1.2% of profit.

## Growth
- **Revenue growth (1 yr): 0.8%** (3-yr 2.1%/yr, 5-yr 24.2%/yr). Revenue grew 0.8% over the last year, against 24.2% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -67.4%** (3-yr -22.1%/yr, 5-yr -14.0%/yr). Earnings per share fell 67.4%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 27.0%/yr**. Free cash flow has compounded at 27.0% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.31**. Debt is 0.31 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 2.8×**. It would take 2.8 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 4.0×**. Operating profit covers interest 4.0× over, a safe margin.
- **Current ratio: 1.10** (quick 1.10). Current assets cover the next year's liabilities 1.10 times.
- **Altman Z-score: 2.70**. A Z-score of 2.70 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. ICON plc does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (17 analysts). 17 analysts cover ICON plc; the consensus is buy, with an average price target of $231.29 (+14% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 19.4%** (YTD 12.6%, 3-mo 29.5%). The shares are up 19.4% over twelve months including dividends.
- **From 52-week high: -7.0%** (206.1% above the low). Trading 7% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 67**. An RSI of 67 is neutral.
- **Beta (1 yr): 1.30** (volatility 69%). Beta of 1.30 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ICLR · Page: https://foliofundamentals.com/stocks/iclr

Not investment advice.