Is the business good?
How good a business is ICLR?
ICON Public Limited Company earns 2.6% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
2.6%
Return on invested capital · cost of capital 9.0% · 6.4 points below what the capital costs: growth destroys value
- Operating margin
- 4.7%
Operating margin · Diagnostics & Research median 7.1% · 12 months to Q1 2026
- Share count, year on year
- −4.5%
Share count, year on year · bought back, each share owns more of the company
- Gross margin
- 25%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 14% |
| FY2021 | 6.9% |
| FY2022 | 10% |
| FY2023 | 11% |
| FY2024 | 13% |
| FY2025 | 5.4% |
Details›
- Gross margin12 months to Q1 2026
- 25%
- Operating margin12 months to Q1 2026
- 4.7%
- Net margin12 months to Q1 2026
- 2.1%
- Free cash flow margin
- 9.2%
- Revenue, trailing twelve months
- $8.27B
- Free cash flow, trailing twelve months
- $759M
- Net income, trailing twelve months
- $173M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 2.6%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Diagnostics & Research
Ranks #25 of 29 by Smart Score