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ICON plc Valuation Multiples

Discover revenue and EBITDA valuation multiples for ICON plc and similar public comparables like Jubilant Pharmova, Dishman Carbogen Amics, and Cohance Lifesciences.

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

United States of America
Employees

41.9K+

Website

iconplc.com

Financials

LTM Revenue $8.1B

LTM EBITDA $1.7B

EV

$13.4B

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ICON plc Financials

ICON plc has a last 12-month revenue (LTM) of $8.1B and a last 12-month EBITDA of $1.7B.

In the most recent fiscal year, ICON plc achieved revenue of $8.3B and an EBITDA of $1.6B.

ICON plc expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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ICON plc P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $8.1B XXX $8.3B XXX XXX XXX
Gross Profit $2.4B XXX $2.4B XXX XXX XXX
Gross Margin 29% XXX 29% XXX XXX XXX
EBITDA $1.7B XXX $1.6B XXX XXX XXX
EBITDA Margin 21% XXX 19% XXX XXX XXX
EBIT $1.5B XXX $1.2B XXX XXX XXX
EBIT Margin 19% XXX 15% XXX XXX XXX
Net Profit $1.1B XXX $791M XXX XXX XXX
Net Margin 14% XXX 10% XXX XXX XXX
Net Debt XXX XXX $2.9B XXX XXX XXX

Financial data powered by Morningstar, Inc.

ICON plc Stock Performance

As of May 30, 2025, ICON plc's stock price is $130.

ICON plc has current market cap of $10.4B, and EV of $13.4B.

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ICON plc Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$13.4B $10.4B XXX XXX XXX XXX $13.69

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ICON plc Valuation Multiples

As of May 30, 2025, ICON plc has market cap of $10.4B and EV of $13.4B.

ICON plc's trades at 1.6x EV/Revenue multiple, and 8.6x EV/EBITDA.

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 9.2x.

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ICON plc Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $10.4B XXX $10.4B XXX XXX XXX
EV (current) $13.4B XXX $13.4B XXX XXX XXX
EV/Revenue 1.6x XXX 1.6x XXX XXX XXX
EV/EBITDA 8.0x XXX 8.6x XXX XXX XXX
EV/EBIT 8.7x XXX 11.0x XXX XXX XXX
EV/Gross Profit 5.6x XXX n/a XXX XXX XXX
P/E 9.2x XXX 13.1x XXX XXX XXX
EV/FCF 13.0x XXX 12.0x XXX XXX XXX

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ICON plc Margins & Growth Rates

ICON plc's last 12 month revenue growth is -1%

ICON plc's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $29K for the same period.

ICON plc's rule of 40 is 17% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

ICON plc's rule of X is 17% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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ICON plc Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth -1% XXX -1% XXX XXX XXX
EBITDA Margin 21% XXX 19% XXX XXX XXX
EBITDA Growth -4% XXX 2% XXX XXX XXX
Rule of 40 17% XXX 17% XXX XXX XXX
Bessemer Rule of X XXX XXX 17% XXX XXX XXX
Revenue per Employee XXX XXX $0.2M XXX XXX XXX
Opex per Employee XXX XXX $29K XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 15% XXX XXX XXX

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ICON plc Public Comps

See public comps and valuation multiples for Contract Research & Manufacturing and Healthcare Software comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Jubilant Pharmova XXX XXX XXX XXX XXX XXX
Biocon XXX XXX XXX XXX XXX XXX
Syngene International XXX XXX XXX XXX XXX XXX
Dishman Carbogen Amics XXX XXX XXX XXX XXX XXX
Cohance Lifesciences 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 and Investment Activity

ICON plc acquired  XXX companies to date.

Last acquisition by ICON plc was  XXXXXXXX, XXXXX XXXXX XXXXXX . ICON plc acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by ICON plc

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About 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 of America.
How many employees does ICON plc have? As of today, ICON plc has 41.9K+ employees.
Who is the CEO of ICON plc? ICON plc's CEO is Dr. Steven Cutler, PhD.
Is ICON plc publicy listed? Yes, ICON plc is a public company listed on NAS.
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? Similar companies to ICON plc include e.g. Jubilant Pharmova, Biocon, Syngene International, Dishman Carbogen Amics.
What is the current market cap of ICON plc? ICON plc's current market cap is $10.4B
What is the current revenue of ICON plc? ICON plc's last 12 months revenue is $8.1B.
What is the current revenue growth of ICON plc? ICON plc revenue growth (NTM/LTM) is -1%.
What is the current EV/Revenue multiple of ICON plc? Current revenue multiple of ICON plc is 1.6x.
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 $1.7B.
What is ICON plc's EBITDA margin? ICON plc's last 12 months EBITDA margin is 21%.
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 $1.0B.
What is ICON plc's FCF margin? ICON plc's last 12 months FCF margin is 13%.
What is the current EV/FCF multiple of ICON plc? Current FCF multiple of ICON plc is 13.0x.

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