ICON plc
ICLR evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for ICLR—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ICLR
ICON plc is a global contract research organization (CRO) providing outsourced clinical development services to pharmaceutical, biotechnology, medical device, and government clients, with a focus on full-service and blended-service solutions across all major therapeutic areas.
Key risk: Client concentration risk
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$13.12B
Cash Runway
—
Lead Asset
—
Next Catalyst
—
Financial data as of Jun 30, 2026.
ICON plc is a global contract research organization (CRO) providing outsourced clinical development services to pharmaceutical, biotechnology, medical device, and government clients, with a focus on full-service and blended-service solutions across all major therapeutic areas.
- ICON is a global CRO with approximately 40,200 employees in 99 locations across 55 countries as of June 30, 2026 [sec · filed 2026-07-30].
- For the three months ended June 30, 2026, ICON derived 26.5% of revenue from the United States, 61.2% from Europe, and 12.3% from other regions [sec · filed 2026-07-30].
- As of June 30, 2026, ICON reported cash & equivalents of $928.4M, total revenue of $2,063.5M, net income of $72.6M, shareholders' equity of $9,193.4M, and total debt of $2,110.8M [sec].
- The company operates as one reportable segment, providing outsourced development services globally [sec · filed 2026-07-30].
- ICON has expanded through internal growth and strategic acquisitions to enhance its expertise in clinical development [sec · filed 2026-06-23].
What works
- ICON has a broad global footprint with operations in 55 countries, enabling it to conduct clinical trials across most major therapeutic areas [sec · filed 2026-07-30].
- The company offers flexible service models (stand-alone, full-service, or blended-service), which can appeal to a wide range of clients [sec · filed 2026-07-30].
- ICON is investing in patient recruitment capabilities through its Accellacare clinical research network, which may improve trial efficiency and customer appeal [sec · filed 2026-05-27].
What to weigh
- ICON's business is dependent on the pharmaceutical industry and a limited number of large clients, making it vulnerable to industry consolidation and client loss [sec · filed 2026-05-27].
- The company faces risks related to patient enrollment challenges, which can delay or terminate studies and materially impact results [sec · filed 2026-05-27].
- ICON operates in a highly competitive and consolidating CRO industry, which could pressure pricing and margins [sec · filed 2026-05-27].
From the filings
Quoted directly from source documents.
ICON's global scale and employee count
“At June 30, 2026 we had approximately 40,200 employees in 99 locations in 55 countries.”
SEC filings · July 30, 2026
ICON's revenue geographic breakdown for Q2 2026
“During the three months ended June 30, 2026 we derived 26.5%, 61.2% and 12.3%”
SEC filings · July 30, 2026
Risk of client concentration and industry consolidation
“dependence on the pharmaceutical industry and certain clients, the need to regularly win projects and then to execute them efficiently and correctly”
SEC filings · May 27, 2026
Risks & what to watch (4)›
Key risks
- Client concentration risk — Dependence on a limited number of large clients and the pharmaceutical industry; consolidation could reduce customer base [sec · filed 2026-05-27].
- Patient enrollment challenges — Insufficient or inappropriate patient enrollment may delay or terminate studies, materially impacting results [sec · filed 2026-05-27].
- Competitive industry pressure — Intense competition and ongoing consolidation in the CRO industry could pressure pricing and margins [sec · filed 2026-05-27].
- Macroeconomic and market conditions — Market conditions and economic downturns could reduce demand for the company's services [sec · filed 2026-05-27].
What to watch
- ICON's ability to maintain or grow its client base amid biopharmaceutical industry consolidation [sec · filed 2026-05-27].
- Execution of patient enrollment strategies through Accellacare and decentralized trial capabilities [sec · filed 2026-05-27].
- Trends in quarterly revenue and net income, particularly geographic revenue shifts [sec · filed 2026-07-30].
- Any share repurchase activity under the company's opportunistic buyback program [sec · filed 2025-10-23].
Sources: SEC filings · Generated August 26, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
Profitable (positive operating cash flow)
D/E 0.75 · 1% dilution
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
0 buys · 34 sells (180d)
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
417
Total value held
$7.08B
| Holder | Shares | Value |
|---|---|---|
| wellington management group llp | 5,913,037 | $654.3M |
| harris associates l p | 4,351,317 | $481.5M |
| fmr llc | 4,174,006 | $461.9M |
| principal financial group inc | 3,311,771 | $366.5M |
| massachusetts financial services co /ma/ | 2,727,824 | $304.9M |
| alliancebernstein l.p. | 1,344,595 | $245.0M |
| sachem head capital management lp | 2,105,000 | $232.9M |
| greenhaven associates inc | 2,002,411 | $221.6M |
| ruane, cunniff & goldfarb l.p. | 1,634,611 | $180.9M |
| brandes investment partners, lp | 1,435,053 | $158.8M |
Showing top 10 of 417 institutional holders of ICON plc. Open the full 13F history after sign-in.
Short Interest
as of May 21, 2026- % of float
- 3.5%
- Days to cover
- 2.0
- Shares short
- 2,678,541
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ICLR short interestFrequently asked questions
What is the AI investment thesis for ICON plc?
ICON plc is a global contract research organization (CRO) providing outsourced clinical development services to pharmaceutical, biotechnology, medical device, and government clients, with a focus on full-service and blended-service solutions across all major therapeutic areas.
Who is the CEO of ICON plc?
Mr. Barry Balfe is the chief executive officer of ICON plc (ICLR).
Where is ICON plc headquartered?
ICON plc (ICLR) is headquartered in Dublin, Ireland.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.