ICON Public Limited Company

NasdaqGS:ICLR Stock Report

Market Cap: US$17.1b

ICON Valuation

Is ICLR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ICLR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ICLR ($207.51) is trading below our estimate of fair value ($387.09)

Significantly Below Fair Value: ICLR is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ICLR?

Key metric: As ICLR is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ICLR. This is calculated by dividing ICLR's market cap by their current earnings.
What is ICLR's PE Ratio?
PE Ratio22.9x
EarningsUS$747.89m
Market CapUS$17.13b

Price to Earnings Ratio vs Peers

How does ICLR's PE Ratio compare to its peers?

The above table shows the PE ratio for ICLR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average51.7x
WAT Waters
35.1x8.6%US$21.9b
AVTR Avantor
46.6x36.2%US$14.4b
TECH Bio-Techne
77.2x21.2%US$11.6b
WST West Pharmaceutical Services
48x12.2%US$24.0b
ICLR ICON
22.9x12.9%US$17.1b

Price-To-Earnings vs Peers: ICLR is good value based on its Price-To-Earnings Ratio (22.9x) compared to the peer average (51.7x).

Price to Earnings Ratio vs Industry

How does ICLR's PE Ratio compare vs other companies in the US Life Sciences Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
REPC.F RepliCel Life Sciences
0.3xn/aUS$325.01k
No more companies available in this PE range
ICLR 22.9xIndustry Avg. 36.2xNo. of Companies4PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ICLR is good value based on its Price-To-Earnings Ratio (22.9x) compared to the Global Life Sciences industry average (36.2x).

Price to Earnings Ratio vs Fair Ratio

What is ICLR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ICLR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.9x
Fair PE Ratio27.3x

Price-To-Earnings vs Fair Ratio: ICLR is good value based on its Price-To-Earnings Ratio (22.9x) compared to the estimated Fair Price-To-Earnings Ratio (27.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ICLR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$207.51
US$274.47
+32.3%
6.9%US$300.00US$232.00n/a15
Dec ’25US$210.25
US$276.06
+31.3%
7.1%US$300.00US$232.00n/a16
Nov ’25US$220.40
US$283.00
+28.4%
5.4%US$311.00US$249.00n/a16
Oct ’25US$284.51
US$364.50
+28.1%
7.5%US$385.00US$268.00n/a16
Sep ’25US$322.06
US$365.40
+13.5%
7.5%US$385.00US$268.00n/a15
Aug ’25US$327.15
US$365.40
+11.7%
7.5%US$385.00US$268.00n/a15
Jul ’25US$316.51
US$363.60
+14.9%
7.5%US$390.00US$268.00n/a15
Jun ’25US$324.82
US$363.14
+11.8%
7.8%US$390.00US$268.00n/a14
May ’25US$301.61
US$354.14
+17.4%
7.7%US$385.00US$268.00n/a14
Apr ’25US$331.73
US$350.57
+5.7%
7.4%US$385.00US$268.00n/a14
Mar ’25US$325.51
US$350.57
+7.7%
7.4%US$385.00US$268.00n/a14
Feb ’25US$260.50
US$309.57
+18.8%
7.9%US$357.00US$243.00n/a14
Jan ’25US$283.07
US$298.53
+5.5%
9.6%US$357.00US$243.00n/a15
Dec ’24US$269.35
US$285.14
+5.9%
7.2%US$320.00US$243.00US$210.2514
Nov ’24US$250.00
US$281.57
+12.6%
8.1%US$306.00US$220.00US$220.4014
Oct ’24US$246.25
US$280.50
+13.9%
8.0%US$306.00US$220.00US$284.5114
Sep ’24US$262.69
US$278.64
+6.1%
7.6%US$300.00US$220.00US$322.0614
Aug ’24US$249.23
US$278.64
+11.8%
7.6%US$300.00US$220.00US$327.1514
Jul ’24US$250.20
US$250.21
+0.006%
8.4%US$281.00US$220.00US$316.5114
Jun ’24US$215.85
US$250.21
+15.9%
8.4%US$281.00US$220.00US$324.8214
May ’24US$195.45
US$250.21
+28.0%
8.4%US$281.00US$220.00US$301.6114
Apr ’24US$213.59
US$264.71
+23.9%
5.5%US$281.00US$234.00US$331.7314
Mar ’24US$227.50
US$265.07
+16.5%
5.6%US$285.00US$234.00US$325.5114
Feb ’24US$235.74
US$257.50
+9.2%
7.1%US$280.00US$223.00US$260.5014
Jan ’24US$194.25
US$252.64
+30.1%
7.6%US$280.00US$215.00US$283.0714
Dec ’23US$218.69
US$253.00
+15.7%
7.7%US$280.00US$215.00US$269.3514

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 02:00
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 here.

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 .

Analyst Sources

ICON Public Limited Company is covered by 45 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Armelle MoulinAlphaValue
Gregory BolanAvondale Partners
Eric ColdwellBaird