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ICON plc Valuation Multiples
Discover revenue and EBITDA valuation multiples for ICON plc and similar public comparables like Charles River, Wuxi XDC, Tempus AI, Revvity and more.
ICON plc Overview
About ICON plc
Icon is a global late-stage contract research organization that provides drug development and clinical trial services to pharmaceutical, biotechnology, and medical-device firms. While the vast majority of its revenue comes from clinical research, Icon also offers ancillary services such as laboratory and imaging capabilities. The company is headquartered in Ireland.
Founded
1990
HQ
Employees
41.9K
Website
Sectors
Financials (LTM)
EV
$12B
ICON plc Financials
ICON plc reported last 12-month revenue of $8B and EBITDA of $2B.
In the same LTM period, ICON plc generated $2B in gross profit, $2B in EBITDA, and $1B in net income.
Revenue (LTM)
ICON plc P&L
In the most recent fiscal year, ICON plc reported revenue of $8B and EBITDA of $2B.
ICON plc expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $8B | XXX | $8B | XXX | XXX | XXX |
| Gross Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Margin | 28% | XXX | 29% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 19% | XXX | 21% | XXX | XXX | XXX |
| EBIT Margin | 17% | XXX | 19% | XXX | XXX | XXX |
| Net Profit | $1B | XXX | $1B | XXX | XXX | XXX |
| Net Margin | 12% | XXX | 14% | XXX | XXX | XXX |
| Net Debt | — | — | $3B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
ICON plc Stock Performance
ICON plc has current market cap of $9B, and enterprise value of $12B.
Market Cap Evolution
ICON plc's stock price is $119.68.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $12B | $9B | 0.0% | XXX | XXX | XXX | $15.23 |
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Start Free TrialICON plc Valuation Multiples
ICON plc trades at 1.5x EV/Revenue multiple, and 8.0x EV/EBITDA.
EV / Revenue (LTM)
ICON plc Financial Valuation Multiples
As of April 19, 2026, ICON plc has market cap of $9B and EV of $12B.
Equity research analysts estimate ICON plc's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
ICON plc has a P/E ratio of 9.1x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $9B | XXX | $9B | XXX | XXX | XXX |
| EV (current) | $12B | XXX | $12B | XXX | XXX | XXX |
| EV/Revenue | 1.5x | XXX | 1.5x | XXX | XXX | XXX |
| EV/EBITDA | 8.0x | XXX | 7.0x | XXX | XXX | XXX |
| EV/EBIT | 9.0x | XXX | 7.6x | XXX | XXX | XXX |
| EV/Gross Profit | 5.5x | XXX | 5.0x | XXX | XXX | XXX |
| P/E | 9.1x | XXX | 7.9x | XXX | XXX | XXX |
| EV/FCF | 15.0x | XXX | 10.9x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified ICON plc Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
ICON plc Margins & Growth Rates
ICON plc's revenue in the last 12 month declined by (0%).
ICON plc's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.0M for the same period.
ICON plc's rule of 40 is 16% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
ICON plc's rule of X is 14% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
ICON plc Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | (0%) | XXX | (3%) | XXX | XXX | XXX |
| EBITDA Margin | 19% | XXX | 21% | XXX | XXX | XXX |
| EBITDA Growth | (4%) | XXX | (10%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 16% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 14% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.0M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 15% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
ICON plc Public Comps
See public comps and valuation multiples for other Contract Research & Manufacturing and Healthcare Software comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| ICON plc | XXX | XXX | XXX | XXX | XXX | XXX |
| Charles River | XXX | XXX | XXX | XXX | XXX | XXX |
| Wuxi XDC | XXX | XXX | XXX | XXX | XXX | XXX |
| Tempus AI | XXX | XXX | XXX | XXX | XXX | XXX |
| Revvity | XXX | XXX | XXX | XXX | XXX | XXX |
| Pharmaron Beijing | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
ICON plc M&A Activity
ICON plc acquired XXX companies to date.
Last acquisition by ICON plc was on XXXXXXXX, XXXXX. ICON plc acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by ICON plc
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialICON plc Investment Activity
ICON plc invested in XXX companies to date.
ICON plc made its latest investment on XXXXXXXX, XXXXX. ICON plc invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by ICON plc
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout ICON plc
| When was ICON plc founded? | ICON plc was founded in 1990. |
| Where is ICON plc headquartered? | ICON plc is headquartered in United States. |
| How many employees does ICON plc have? | As of today, ICON plc has over 41K employees. |
| Who is the CEO of ICON plc? | ICON plc's CEO is Steven Cutler. |
| Is ICON plc publicly listed? | Yes, ICON plc is a public company listed on Nasdaq. |
| What is the stock symbol of ICON plc? | ICON plc trades under ICLR ticker. |
| When did ICON plc go public? | ICON plc went public in 1998. |
| Who are competitors of ICON plc? | ICON plc main competitors are Charles River, Wuxi XDC, Tempus AI, Revvity. |
| What is the current market cap of ICON plc? | ICON plc's current market cap is $9B. |
| What is the current revenue of ICON plc? | ICON plc's last 12 months revenue is $8B. |
| What is the current revenue growth of ICON plc? | ICON plc revenue growth (NTM/LTM) is (0%). |
| What is the current EV/Revenue multiple of ICON plc? | Current revenue multiple of ICON plc is 1.5x. |
| Is ICON plc profitable? | Yes, ICON plc is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of ICON plc? | ICON plc's last 12 months EBITDA is $2B. |
| What is ICON plc's EBITDA margin? | ICON plc's last 12 months EBITDA margin is 19%. |
| What is the current EV/EBITDA multiple of ICON plc? | Current EBITDA multiple of ICON plc is 8.0x. |
| What is the current FCF of ICON plc? | ICON plc's last 12 months FCF is $814M. |
| What is ICON plc's FCF margin? | ICON plc's last 12 months FCF margin is 10%. |
| What is the current EV/FCF multiple of ICON plc? | Current FCF multiple of ICON plc is 15.0x. |
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