ICON PLC

Listed Company

ICLRCIK 0001060955NasdaqLarge AcceleratedServices-Commercial Physical & Biological ResearchIE

Period

FY 2025

Revenue

$8.25B

Net Income

$229.34M

Total Assets

$16.27B

Equity

$9.19B

Shares Out

76.57M

Op. Cash Flow

$1.04B

Business

ICON PLC is a global contract research organization that provides outsourced development and commercialization services to pharmaceutical, biotechnology, medical device, government and public health organizations. It offers clinical development across Phases I–IV, peri- and post-approval studies, data solutions, site and patient access services, laboratory testing (bioanalytical, biomarker, vaccine, GMP and central labs), consulting and full-service/functional service partnerships. Key business areas include clinical development, functional outsourcing, laboratory services, patient/site networks (Accellacare) and healthcare intelligence and applied innovation. ICON delivers services globally through strategic partnerships, preferred provider arrangements, full-service and functional service models across the United States, Europe and other international markets.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31	Dec 31, 2023 2023-12-31
Revenue	8,251	8,189	8,055
Costs and expenses:	—	—	—
Direct costs	6,076	5,818	5,706
Selling, general and administrative	780	728	769
Depreciation and amortization	383	489	586
Transaction and integration related	25	30	44
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	—	—	—
Restructuring	79	92	45
Goodwill impairment	364	0	0
Impairment of non-financial assets	101	0	0
Total costs and expenses	7,808	7,157	7,150
Income from operations	443	1,032	905
Interest income	7	9	5
Interest expense	197	237	337
Income before income tax expense	252	804	573
Income tax expense	23	65	18
Income before share of losses from equity method investments	229	739	555
Share of losses from equity method investments	0	0	−383,000
Net income	229	739	554
Net income per ordinary share:	—	—	—
Basic (USD per share)	2.92	8.96	6.75
Diluted (USD per share)	2.9	8.9	6.7
Weighted average number of ordinary shares outstanding:	—	—	—
Basic (in shares)	78	82	82
Diluted (in shares)	79	83	83

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31	Dec 31, 2023 2023-12-31
ASSETS	—	—	—
Current assets:	—	—	—
Cash and cash equivalents	647	539	378
Available for sale investments	0	0	2
Accounts receivable, net of allowance for credit losses	1,475	1,393	1,764
Unbilled revenue	1,097	1,040	854
Other receivables	117	79	66
Prepayments and other current assets	105	140	132
Income taxes receivable	61	84	91
Total current assets	3,502	3,275	3,287
Non-current assets:	—	—	—
Property, plant and equipment, net	396	383	361
Goodwill	8,732	9,051	9,022
Intangible assets, net	3,247	3,560	3,856
Operating right-of-use assets	129	148	140
Other receivables	76	73	78
Income taxes receivable	0	11	0
Deferred tax asset	107	76	73
Investments in equity	82	58	47
Total Assets	16,270	16,635	16,865
LIABILITIES AND SHAREHOLDERS’ EQUITY	—	—	—
Current liabilities:	—	—	—
Accounts payable	192	173	132
Unearned revenue	1,550	1,468	1,566
Other liabilities	905	910	908
Income taxes payable	19	55	14
Current bank credit lines, loan facilities and notes	530	30	110
Total current liabilities	3,196	2,635	2,730
Non-current liabilities:	—	—	—
Non-current bank credit lines, loan facilities and notes, net	2,873	3,396	3,665
Lease liabilities	117	140	126
Non-current other liabilities	73	83	45
Non-current income taxes payable	103	128	188
Deferred tax liability	714	811	898
Commitments and contingencies	0	0	0
Total Liabilities	7,076	7,193	7,653
Shareholders' Equity:	—	—	—
76,567,325 shares issued and outstanding at December 31, 2025, (2024: 80,756,860 and 2023: 82,495,086)	6	7	7
Additional paid-in capital	7,132	7,020	6,943
Other undenominated capital	2	1	1
Accumulated other comprehensive loss	−69	−230	−144
Retained earnings	2,122	2,643	2,404
Total Shareholders' Equity	9,193	9,441	9,211
Total Liabilities and Shareholders’ Equity	16,270	16,635	16,865

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31	Dec 31, 2023 2023-12-31
Cash flows provided by operating activities:	—	—	—
Net income	229	739	554
Adjustments to reconcile net income to net cash provided by operating activities:	—	—	—
Depreciation and amortization	383	489	586
Goodwill impairment	364	0	0
Impairment of non-financial assets	101	0	0
Impairment of operating right-of-use assets and related property, plant and equipment	4	16	9
Reduction in carrying value of operating right-of-use assets	36	40	42
Loss on equity method investments	0	0	−383,000
Acquisition-related gain	0	0	6
Amortization of financing costs and debt discount	6	24	16
Stock compensation expense	102	46	56
Deferred tax benefit	−129	−103	−85
Unrealized foreign exchange movements	−26	−7	−20
Other non-cash items	−11	−32	−24
Changes in operating assets and liabilities:	—	—	—
Accounts receivable	108	−333	57
Unbilled revenue	61	192	−118
Unearned revenue	69	−97	47
Other net assets	−3	45	162
Net cash provided by operating activities	1,036	1,287	1,161
Cash flows used in investing activities:	—	—	—
Purchase of property, plant and equipment	174	168	141
Purchase of subsidiary undertakings (net of cash acquired)	3	84	72
Movement of available for sale investments	0	0	241,000
Proceeds from investments in equity	9	3	0
Purchase of investments in equity	20	17	14
Net cash used in investing activities	−188	−267	−227
Cash flows used in financing activities:	—	—	—
Debt issue costs	750,000	13	0
Drawdown of credit lines and loan facilities	50	2,317	370
Repayment of credit lines and loan facilities	80	2,678	1,265
Proceeds from exercise of equity compensation	10	36	51
Share issue costs	19,000	22,000	16,000
Repurchase of ordinary shares	750	500	0
Share repurchase costs	450,000	388,000	0
Net cash used in financing activities	−771	−837	−844
Effect of exchange rate movements on cash	31	−22	−997,000
Net increase in cash and cash equivalents	109	161	89
Cash and cash equivalents at end of year	—	—	—
Cash and cash equivalents at end of year	—	—	—

Filings

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