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Side-by-side financial comparison of ICON PLC (ICLR) and KeyCorp (KEY). Click either name above to swap in a different company.
ICON PLC is the larger business by last-quarter revenue ($2.0B vs $2.0B, roughly 1.0× KeyCorp). KeyCorp runs the higher net margin — 25.4% vs 0.1%, a 25.3% gap on every dollar of revenue. On growth, KeyCorp posted the faster year-over-year revenue change (131.8% vs 0.6%). KeyCorp produced more free cash flow last quarter ($2.1B vs $333.9M). Over the past eight quarters, KeyCorp's revenue compounded faster (14.4% CAGR vs 0.6%).
ICON plc is an Irish headquartered multinational healthcare intelligence and clinical research organisation. As of February 2025 had approximately 41,900 employees in 55 countries.
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
ICLR vs KEY — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $2.0B |
| Net Profit | $2.4M | $510.0M |
| Gross Margin | — | — |
| Operating Margin | 4.2% | 32.3% |
| Net Margin | 0.1% | 25.4% |
| Revenue YoY | 0.6% | 131.8% |
| Net Profit YoY | -98.8% | 309.0% |
| EPS (diluted) | $0.03 | $0.43 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $2.0B | ||
| Q3 25 | $2.0B | $1.9B | ||
| Q2 25 | $2.0B | $1.8B | ||
| Q1 25 | $2.0B | $1.8B | ||
| Q4 24 | — | $865.0M | ||
| Q3 24 | $2.0B | $695.0M | ||
| Q2 24 | $2.1B | $1.5B | ||
| Q1 24 | $2.1B | $1.5B |
| Q4 25 | — | $510.0M | ||
| Q3 25 | $2.4M | $489.0M | ||
| Q2 25 | $183.0M | $425.0M | ||
| Q1 25 | $154.2M | $405.0M | ||
| Q4 24 | — | $-244.0M | ||
| Q3 24 | $197.1M | $-410.0M | ||
| Q2 24 | $146.9M | $274.0M | ||
| Q1 24 | $187.4M | $219.0M |
| Q4 25 | — | 32.3% | ||
| Q3 25 | 4.2% | 31.8% | ||
| Q2 25 | 10.4% | 29.3% | ||
| Q1 25 | 11.0% | 29.0% | ||
| Q4 24 | — | -92.6% | ||
| Q3 24 | 14.1% | -72.8% | ||
| Q2 24 | 10.8% | 22.0% | ||
| Q1 24 | 13.7% | 18.1% |
| Q4 25 | — | 25.4% | ||
| Q3 25 | 0.1% | 25.8% | ||
| Q2 25 | 9.1% | 23.1% | ||
| Q1 25 | 7.7% | 22.8% | ||
| Q4 24 | — | -54.7% | ||
| Q3 24 | 9.7% | -59.0% | ||
| Q2 24 | 6.9% | 18.0% | ||
| Q1 24 | 9.0% | 14.3% |
| Q4 25 | — | $0.43 | ||
| Q3 25 | $0.03 | $0.41 | ||
| Q2 25 | $2.30 | $0.35 | ||
| Q1 25 | $1.90 | $0.33 | ||
| Q4 24 | — | $-0.30 | ||
| Q3 24 | $2.36 | $-0.47 | ||
| Q2 24 | $1.76 | $0.25 | ||
| Q1 24 | $2.25 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $468.9M | $10.2B |
| Total DebtLower is stronger | — | $9.9B |
| Stockholders' EquityBook value | $9.3B | $20.4B |
| Total Assets | $16.5B | $184.4B |
| Debt / EquityLower = less leverage | — | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $10.2B | ||
| Q3 25 | $468.9M | $13.3B | ||
| Q2 25 | $390.4M | $11.6B | ||
| Q1 25 | $526.7M | $15.3B | ||
| Q4 24 | — | $17.5B | ||
| Q3 24 | $695.5M | $22.8B | ||
| Q2 24 | $506.6M | $15.5B | ||
| Q1 24 | $396.1M | $13.2B |
| Q4 25 | — | $9.9B | ||
| Q3 25 | — | $10.9B | ||
| Q2 25 | — | $12.1B | ||
| Q1 25 | — | $12.4B | ||
| Q4 24 | — | $12.1B | ||
| Q3 24 | — | $15.7B | ||
| Q2 24 | — | $16.9B | ||
| Q1 24 | — | $20.8B |
| Q4 25 | — | $20.4B | ||
| Q3 25 | $9.3B | $20.1B | ||
| Q2 25 | $9.6B | $19.5B | ||
| Q1 25 | $9.5B | $19.0B | ||
| Q4 24 | — | $18.2B | ||
| Q3 24 | $9.8B | $16.9B | ||
| Q2 24 | $9.6B | $14.8B | ||
| Q1 24 | $9.4B | $14.5B |
| Q4 25 | — | $184.4B | ||
| Q3 25 | $16.5B | $187.4B | ||
| Q2 25 | $16.6B | $185.5B | ||
| Q1 25 | $16.7B | $188.7B | ||
| Q4 24 | — | $187.2B | ||
| Q3 24 | $17.2B | $189.8B | ||
| Q2 24 | $17.0B | $187.4B | ||
| Q1 24 | $17.0B | $187.5B |
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.54× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.93× | ||
| Q2 24 | — | 1.14× | ||
| Q1 24 | — | 1.43× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $387.6M | $2.2B |
| Free Cash FlowOCF − Capex | $333.9M | $2.1B |
| FCF MarginFCF / Revenue | 16.3% | 104.8% |
| Capex IntensityCapex / Revenue | 2.6% | 5.3% |
| Cash ConversionOCF / Net Profit | 164.59× | 4.33× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.2B | ||
| Q3 25 | $387.6M | $396.0M | ||
| Q2 25 | $146.2M | $1.2B | ||
| Q1 25 | $268.2M | $-140.0M | ||
| Q4 24 | — | $664.0M | ||
| Q3 24 | $402.7M | $-1.2B | ||
| Q2 24 | $218.6M | $-217.0M | ||
| Q1 24 | $327.1M | $359.0M |
| Q4 25 | — | $2.1B | ||
| Q3 25 | $333.9M | $367.0M | ||
| Q2 25 | $113.9M | $1.2B | ||
| Q1 25 | $239.3M | $-150.0M | ||
| Q4 24 | — | $599.0M | ||
| Q3 24 | $359.3M | $-1.2B | ||
| Q2 24 | $182.3M | $-230.0M | ||
| Q1 24 | $299.9M | $347.0M |
| Q4 25 | — | 104.8% | ||
| Q3 25 | 16.3% | 19.4% | ||
| Q2 25 | 5.6% | 65.8% | ||
| Q1 25 | 12.0% | -8.5% | ||
| Q4 24 | — | 69.2% | ||
| Q3 24 | 17.7% | -175.8% | ||
| Q2 24 | 8.6% | -15.1% | ||
| Q1 24 | 14.3% | 22.6% |
| Q4 25 | — | 5.3% | ||
| Q3 25 | 2.6% | 1.5% | ||
| Q2 25 | 1.6% | 1.3% | ||
| Q1 25 | 1.4% | 0.6% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | 2.1% | 2.4% | ||
| Q2 24 | 1.7% | 0.9% | ||
| Q1 24 | 1.3% | 0.8% |
| Q4 25 | — | 4.33× | ||
| Q3 25 | 164.59× | 0.81× | ||
| Q2 25 | 0.80× | 2.90× | ||
| Q1 25 | 1.74× | -0.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.04× | — | ||
| Q2 24 | 1.49× | -0.79× | ||
| Q1 24 | 1.74× | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ICLR
| Other Customers | $681.3M | 33% |
| Clients1125 | $549.4M | 27% |
| Clients15 | $503.3M | 25% |
| Clients610 | $308.8M | 15% |
KEY
Segment breakdown not available.
