ICON (ICLR) Stock Overview
A clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 1/6 |
| Past Performance | 1/6 |
| Financial Health | 4/6 |
| Dividends | 0/6 |
ICLR Community Fair Values
Create NarrativeSee what 19 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Pharmaceuticals & Biotech opportunity
LO
Fair Value from
US$7.675.4% undervalued intrinsic discount
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Read full narrativeICON Public Limited Company Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$125.00 |
| 52 Week High | US$211.00 |
| 52 Week Low | US$66.57 |
| Beta | 1.23 |
| 1 Month Change | 16.65% |
| 3 Month Change | -16.99% |
| 1 Year Change | -9.73% |
| 3 Year Change | -37.22% |
| 5 Year Change | -44.96% |
| Change since IPO | 1,865.56% |
Recent News & Updates
Narrative Update • May 06
ICLR: Site Network Expansion Will Support Recovery From Accounting Investigation
ICON's updated analyst price target has moved higher to $135.07 from $132.08 as analysts weigh recent target hikes and upgrades against ongoing accounting related concerns and more cautious growth assumptions. Analyst Commentary Street research on Icon reflects a split view, with some analysts focusing on valuation support and long term demand for clinical research, while others stay cautious around accounting risks and reduced earnings assumptions.Narrative Update • Apr 22
ICLR: Oncology And Site Network Expansion Will Offset Accounting Overhang
ICON's updated analyst price target has shifted from about $142.86 to roughly $132.08 as analysts factor in lower modeled revenue growth, a slightly different discount rate, and a reduced future P/E, partly offset by a modestly higher profit margin outlook and mixed reactions to the recent accounting investigation and subsequent ratings changes. Analyst Commentary Recent research on ICON reflects a wide range of opinions as firms reassess the stock following the internal accounting investigation, reduced price targets, and updates to sector models in life science tools, diagnostics, and contract research organizations.
Narrative Update • Apr 07
ICLR: Accounting Review And Backlog Uncertainty Will Pressure Earnings Quality And Sentiment
Narrative update on ICON analyst targets Analysts have collectively reset ICON's average price target lower to around $120, citing ongoing accounting investigations and reduced sector targets. Some also highlight the possibility of upside if biopharma activity improves and current valuation already reflects much of the perceived risk.Narrative Update • Mar 24
ICLR: Accounting Investigation Will Drive Earnings Quality Concerns And Higher Perceived Risk
Narrative Update The analyst price target for ICON has been reset lower to $75.00 from $163.85 as analysts factor in higher perceived risk, more conservative growth and margin expectations, and sector wide target cuts following the company's internal accounting investigation and Q4 updates across life science tools and contract research peers. Analyst Commentary Recent Street research on ICON reflects a clear reset in expectations, with several firms cutting price targets and adjusting ratings following the internal accounting investigation and related uncertainty.Recent updates
Narrative Update • May 06
ICLR: Site Network Expansion Will Support Recovery From Accounting Investigation
ICON's updated analyst price target has moved higher to $135.07 from $132.08 as analysts weigh recent target hikes and upgrades against ongoing accounting related concerns and more cautious growth assumptions. Analyst Commentary Street research on Icon reflects a split view, with some analysts focusing on valuation support and long term demand for clinical research, while others stay cautious around accounting risks and reduced earnings assumptions.Narrative Update • Apr 22
ICLR: Oncology And Site Network Expansion Will Offset Accounting Overhang
ICON's updated analyst price target has shifted from about $142.86 to roughly $132.08 as analysts factor in lower modeled revenue growth, a slightly different discount rate, and a reduced future P/E, partly offset by a modestly higher profit margin outlook and mixed reactions to the recent accounting investigation and subsequent ratings changes. Analyst Commentary Recent research on ICON reflects a wide range of opinions as firms reassess the stock following the internal accounting investigation, reduced price targets, and updates to sector models in life science tools, diagnostics, and contract research organizations.Narrative Update • Apr 07
ICLR: Accounting Review And Backlog Uncertainty Will Pressure Earnings Quality And Sentiment
Narrative update on ICON analyst targets Analysts have collectively reset ICON's average price target lower to around $120, citing ongoing accounting investigations and reduced sector targets. Some also highlight the possibility of upside if biopharma activity improves and current valuation already reflects much of the perceived risk.Narrative Update • Mar 24
ICLR: Accounting Investigation Will Drive Earnings Quality Concerns And Higher Perceived Risk
Narrative Update The analyst price target for ICON has been reset lower to $75.00 from $163.85 as analysts factor in higher perceived risk, more conservative growth and margin expectations, and sector wide target cuts following the company's internal accounting investigation and Q4 updates across life science tools and contract research peers. Analyst Commentary Recent Street research on ICON reflects a clear reset in expectations, with several firms cutting price targets and adjusting ratings following the internal accounting investigation and related uncertainty.Narrative Update • Mar 10
ICLR: Oncology Expansion Will Offset Accounting Overhang And Reset Sentiment
The updated analyst price target for ICON moves lower to $142.86 from $154.86, with analysts citing accounting-related uncertainty and potential backlog restatements, partially balanced by views that the recent selloff and current valuation may offer a more compelling risk and reward profile. Analyst Commentary Recent research on ICON reflects a split view, with some analysts seeing value after the selloff and others emphasizing ongoing accounting and growth risks.Narrative Update • Feb 24
ICLR: Oncology Expansion And Accounting Overhang Are Expected To Reset Sentiment
Analysts have lowered their average price target on ICON from about $206 to roughly $155 as they factor in the ongoing internal accounting investigation, modestly softer growth and margin assumptions, a slightly higher discount rate, and a reduced future P/E multiple, even as some describe the recent share price weakness as creating a more compelling entry point. Analyst Commentary Recent research on ICON reflects a split view, with some analysts turning more constructive after the share price pullback while others remain cautious given the internal accounting investigation and softer growth and margin assumptions.Narrative Update • Feb 09
ICLR: Oncology Expansion And Contract Visibility Will Support Future Upside Potential
Narrative Update on ICON Analysts have modestly adjusted their stance on ICON, with recent target changes clustered in a US$11 range. These changes reflect mixed views on softer revenue growth visibility, margin pressure into 2026, and updated healthcare utilization trends.Analysis Article • Feb 06
It's Down 28% But ICON Public Limited Company (NASDAQ:ICLR) Could Be Riskier Than It Looks
ICON Public Limited Company ( NASDAQ:ICLR ) shares have had a horrible month, losing 28% after a relatively good period...Narrative Update • Jan 25
ICLR: Mixed Margin And Cancellation Signals Will Shape Fairly Balanced Outlook
The analyst price target for ICON has edged higher by about US$1 to US$206.38, as analysts factor in slightly adjusted assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E after a mix of recent target raises and trims across the Street. Analyst Commentary Recent research on ICON reflects a split view, with some on the Street lifting targets while others are turning more cautious as they reassess growth, margins, and contract visibility heading into 2026.Narrative Update • Jan 11
ICLR: Strong Bookings And RFP Momentum Will Offset Margin Concerns
Analysts have trimmed their ICON fair value estimate by about US$0.69 to roughly US$205.69. This reflects expectations of softer revenue growth, thinner margins and a slightly higher discount rate, while still using a somewhat higher future P/E assumption in line with recent price target revisions across the Street.Narrative Update • Dec 25
ICLR: Strong Bookings And RFP Momentum Will Support Long Term Upside
We nudge our ICON price target slightly higher to approximately $206.38 from about $206.19, as analysts balance continued concerns around 2026 margin pressure and pricing headwinds with updated post Q3 models and confidence that stronger gross bookings and RFP flow can support a healthier long term growth profile. Analyst Commentary Street research reflects a mixed but generally constructive stance on ICON, with price targets converging around the low to mid $200 range and a split between Hold and Outperform ratings.Narrative Update • Dec 11
ICLR: Bookings Momentum Will Offset 2026 Margin And Pricing Headwinds
Analysts have modestly trimmed their blended price target on ICON, reflecting a slightly lower valuation multiple as they balance ongoing concerns about 2026 margin and pricing headwinds, highlighted in recent target cuts such as TD Cowen's move to $172 from $183 and Leerink's to $220 from $235, against still-supportive views on bookings momentum and long term growth prospects. Analyst Commentary Bullish Takeaways Bullish analysts highlight that updated models following Q3 results support modest upside to fair value, even after factoring in near term margin noise.Narrative Update • Nov 27
ICLR: Bookings Momentum And Leadership Transition Will Drive Renewed Confidence In 2025
ICON’s analyst price target was revised modestly downward from $208.27 to $206.19, as analysts cited ongoing concerns about margin pressure and potential headwinds for 2026. These concerns were partially tempered by encouraging booking trends and updated financial models following recent quarterly results.Narrative Update • Nov 08
ICLR: Operational Resilience And Leadership Transition Will Support Momentum Next Year
The analyst price target for ICON has edged lower by approximately $0.67 to $208.27, as analysts cite ongoing concerns about margin pressure and a slightly more cautious revenue growth outlook. Analyst Commentary Analyst sentiment on ICON remains divided, with both encouraging signals and pressing concerns for investors to consider.Narrative Update • Oct 24
Margin Pressures And Partnership Wins Will Shape Next-Year Performance Outlook
The analyst fair value estimate for ICON has been revised downward by approximately $7 to $208.93. Analysts cite ongoing concerns about margin pressure and future revenue growth challenges.Seeking Alpha • Oct 22
ICON: Solid Fundamentals Trump Regulatory Headwinds
Summary In H1 2025, ICON's net book-to-bill ratio dropped to its lowest value since at least 2016. However, this ratio could improve since macroeconomic uncertainty is vanishing. ICON has a repurchase program of $1,000 million underway, which could buy approximately 6.90% of the company's outstanding common shares. Despite the challenging times, ICON is a profitable firm, has low debt, and presents symptoms of undervaluation compared to other CRO companies. Read the full article on Seeking AlphaNarrative Update • Sep 13
Midsized Pharma Partnerships And AI Tools Will Streamline Operations
ICON’s consensus price target has been revised down from $220.40 to $215.67 as analysts express caution over persistent revenue and booking growth risks, customer cancellations, and macro uncertainty, which offset recent partnership gains and stable sector demand. Analyst Commentary Bearish analysts highlighted persistent revenue and EBITDA growth risks in 2026 tied to lower-than-normal book-to-bills (BtBs) and customer cancellations, with consensus estimates seen as too optimistic.Analysis Article • Aug 20
After Leaping 25% ICON Public Limited Company (NASDAQ:ICLR) Shares Are Not Flying Under The Radar
NasdaqGS:ICLR 1 Year Share Price vs Fair Value Explore ICON's Fair Values from the Community and select yours ICON...Analysis Article • Aug 12
Are Investors Undervaluing ICON Public Limited Company (NASDAQ:ICLR) By 43%?
Key Insights ICON's estimated fair value is US$280 based on 2 Stage Free Cash Flow to Equity ICON's US$160 share price...Analysis Article • Jul 14
What Is ICON Public Limited Company's (NASDAQ:ICLR) Share Price Doing?
Today we're going to take a look at the well-established ICON Public Limited Company ( NASDAQ:ICLR ). The company's...Analysis Article • May 20
We Think ICON (NASDAQ:ICLR) Can Stay On Top Of Its Debt
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Seeking Alpha • Feb 24
ICON: An Excellent Investment Opportunity With Strong Growth Potential
Summary ICON's revenues and net income have increased by 196.06% and 137.71%, respectively, between 2020 and 2024. Even though the CRO market expects a challenging outlook for 2025, in the next 9–10 years, the CRO market expects to grow at a 5.8%-7.42% CAGR. ICON has seen a decline in its non-current bank and loan debts of 36.88% since 2021. Its non-current bank and loan debts accounted for 57.74% of its liabilities in 2021. The price-to-book value of ICON has reached its lowest value in the last ten years. In addition, the EV/EBITDA ratio is close to its minimum value in ten years. Read the full article on Seeking AlphaSeeking Alpha • Dec 13
ICON: A High Probability Of Success In The Uncertain R&D Process
Summary Recent share price weakness is due to temporary headwinds, including client cost-cutting and delays in biotech decision-making, not structural issues in the CRO industry. Long-term prospects remain strong and structural growth drivers are still intact. Short-term headwinds led to attractive valuations, offering a compelling investment opportunity. Read the full article on Seeking AlphaSeeking Alpha • Nov 29
ICON: Disappointing Change In Trajectory (Rating Downgrade)
Summary Due to unforeseen headwinds and weakened growth outlook, ICLR's investment case has changed materially. Issues around capital allocation and a slowdown in reinvestment opportunities tempers the potential for earnings growth and returns on capital. ICLR's valuation multiples have contracted significantly, with EV/EBIT dropping from 42x to 18x since '22. Read the full article on Seeking AlphaSeeking Alpha • Jul 13
ICON: Deleveraging Complete, Now See 18% CAGR In Valuation To FY'26E (Rating Upgrade)
Summary ICON acquired PRA Health Sciences in a $12B deal in 2020, creating a new company. The stock has doubled since the acquisition, and could be worth $370-$400/share based on earnings estimates and excess earnings above assets of similar price and risk. Its strong order book, earnings leverage, and attractive valuations support a buy recommendation. Read the full article on Seeking AlphaShareholder Returns
| ICLR | US Life Sciences | US Market | |
|---|---|---|---|
| 7D | 5.6% | 1.8% | 2.1% |
| 1Y | -9.7% | 7.7% | 30.6% |
Return vs Industry: ICLR underperformed the US Life Sciences industry which returned 7.9% over the past year.
Return vs Market: ICLR underperformed the US Market which returned 31% over the past year.
Price Volatility
| ICLR volatility | |
|---|---|
| ICLR Average Weekly Movement | 14.9% |
| Life Sciences Industry Average Movement | 8.2% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.1% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: ICLR's share price has been volatile over the past 3 months compared to the US market.
Volatility Over Time: ICLR's weekly volatility has increased from 10% to 15% over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1989 | 39,800 | Barry Balfe | www.iconplc.com |
ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of 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, and contract staffing services; and commercial services comprising clinical development strategy, planning and trial design, full study execution, and post-market commercialization.
ICON Public Limited Company Fundamentals Summary
| ICLR fundamental statistics | |
|---|---|
| Market cap | US$9.48b |
| Earnings (TTM) | US$599.48m |
| Revenue (TTM) | US$8.10b |
15.9x
P/E Ratio1.2x
P/S RatioIs ICLR overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| ICLR income statement (TTM) | |
|---|---|
| Revenue | US$8.10b |
| Cost of Revenue | US$5.82b |
| Gross Profit | US$2.28b |
| Other Expenses | US$1.68b |
| Earnings | US$599.48m |
Last Reported Earnings
Sep 30, 2025
Next Earnings Date
n/a
| Earnings per share (EPS) | 7.85 |
| Gross Margin | 28.15% |
| Net Profit Margin | 7.40% |
| Debt/Equity Ratio | 36.5% |
How did ICLR perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 11:57 |
| End of Day Share Price | 2026/05/07 00:00 |
| Earnings | 2025/09/30 |
| Annual Earnings | 2024/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
ICON Public Limited Company is covered by 31 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Eric Coldwell | Baird |
| Douglas Tsao | Barclays |
| Luke Sergott | Barclays |