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Side-by-side financial comparison of ICON PLC (ICLR) and Organon & Co. (OGN). Click either name above to swap in a different company.
ICON PLC is the larger business by last-quarter revenue ($2.0B vs $1.5B, roughly 1.4× Organon & Co.). ICON PLC runs the higher net margin — 0.1% vs -13.6%, a 13.7% gap on every dollar of revenue. On growth, ICON PLC posted the faster year-over-year revenue change (0.6% vs -5.3%). ICON PLC produced more free cash flow last quarter ($333.9M vs $96.0M). Over the past eight quarters, ICON PLC's revenue compounded faster (0.6% CAGR vs -3.6%).
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.
Organon & Co. is an American pharmaceutical company headquartered in Jersey City, New Jersey. Organon specializes in the following core therapeutic fields: reproductive medicine, contraception, psychiatry, hormone replacement therapy (HRT), and anesthesia. Organon produces all its products outside of the United States but receives a third of its revenue from the United States.
ICLR vs OGN — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $1.5B |
| Net Profit | $2.4M | $-205.0M |
| Gross Margin | — | 49.2% |
| Operating Margin | 4.2% | -9.8% |
| Net Margin | 0.1% | -13.6% |
| Revenue YoY | 0.6% | -5.3% |
| Net Profit YoY | -98.8% | -288.1% |
| EPS (diluted) | $0.03 | $-0.78 |
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 | — | $1.5B | ||
| Q3 25 | $2.0B | $1.6B | ||
| Q2 25 | $2.0B | $1.6B | ||
| Q1 25 | $2.0B | $1.5B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $2.0B | $1.6B | ||
| Q2 24 | $2.1B | $1.6B | ||
| Q1 24 | $2.1B | $1.6B |
| Q4 25 | — | $-205.0M | ||
| Q3 25 | $2.4M | $160.0M | ||
| Q2 25 | $183.0M | $145.0M | ||
| Q1 25 | $154.2M | $87.0M | ||
| Q4 24 | — | $109.0M | ||
| Q3 24 | $197.1M | $359.0M | ||
| Q2 24 | $146.9M | $195.0M | ||
| Q1 24 | $187.4M | $201.0M |
| Q4 25 | — | 49.2% | ||
| Q3 25 | — | 53.5% | ||
| Q2 25 | — | 54.8% | ||
| Q1 25 | — | 55.6% | ||
| Q4 24 | — | 56.3% | ||
| Q3 24 | — | 58.3% | ||
| Q2 24 | — | 58.4% | ||
| Q1 24 | — | 59.0% |
| Q4 25 | — | -9.8% | ||
| Q3 25 | 4.2% | 15.2% | ||
| Q2 25 | 10.4% | 14.4% | ||
| Q1 25 | 11.0% | 6.7% | ||
| Q4 24 | — | 8.1% | ||
| Q3 24 | 14.1% | 13.1% | ||
| Q2 24 | 10.8% | 14.6% | ||
| Q1 24 | 13.7% | 14.5% |
| Q4 25 | — | -13.6% | ||
| Q3 25 | 0.1% | 10.0% | ||
| Q2 25 | 9.1% | 9.1% | ||
| Q1 25 | 7.7% | 5.8% | ||
| Q4 24 | — | 6.8% | ||
| Q3 24 | 9.7% | 22.7% | ||
| Q2 24 | 6.9% | 12.1% | ||
| Q1 24 | 9.0% | 12.4% |
| Q4 25 | — | $-0.78 | ||
| Q3 25 | $0.03 | $0.61 | ||
| Q2 25 | $2.30 | $0.56 | ||
| Q1 25 | $1.90 | $0.33 | ||
| Q4 24 | — | $0.42 | ||
| Q3 24 | $2.36 | $1.38 | ||
| Q2 24 | $1.76 | $0.75 | ||
| Q1 24 | $2.25 | $0.78 |
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 | $574.0M |
| Total DebtLower is stronger | — | $8.6B |
| Stockholders' EquityBook value | $9.3B | $752.0M |
| Total Assets | $16.5B | $12.9B |
| Debt / EquityLower = less leverage | — | 11.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $574.0M | ||
| Q3 25 | $468.9M | $672.0M | ||
| Q2 25 | $390.4M | $599.0M | ||
| Q1 25 | $526.7M | $547.0M | ||
| Q4 24 | — | $675.0M | ||
| Q3 24 | $695.5M | $763.0M | ||
| Q2 24 | $506.6M | $704.0M | ||
| Q1 24 | $396.1M | $575.0M |
| Q4 25 | — | $8.6B | ||
| Q3 25 | — | $8.8B | ||
| Q2 25 | — | $8.9B | ||
| Q1 25 | — | $9.0B | ||
| Q4 24 | — | $8.9B | ||
| Q3 24 | — | $8.7B | ||
| Q2 24 | — | $8.7B | ||
| Q1 24 | — | $8.7B |
| Q4 25 | — | $752.0M | ||
| Q3 25 | $9.3B | $906.0M | ||
| Q2 25 | $9.6B | $733.0M | ||
| Q1 25 | $9.5B | $542.0M | ||
| Q4 24 | — | $472.0M | ||
| Q3 24 | $9.8B | $493.0M | ||
| Q2 24 | $9.6B | $144.0M | ||
| Q1 24 | $9.4B | $48.0M |
| Q4 25 | — | $12.9B | ||
| Q3 25 | $16.5B | $13.6B | ||
| Q2 25 | $16.6B | $13.5B | ||
| Q1 25 | $16.7B | $13.2B | ||
| Q4 24 | — | $13.1B | ||
| Q3 24 | $17.2B | $12.8B | ||
| Q2 24 | $17.0B | $12.2B | ||
| Q1 24 | $17.0B | $11.9B |
| Q4 25 | — | 11.49× | ||
| Q3 25 | — | 9.74× | ||
| Q2 25 | — | 12.14× | ||
| Q1 25 | — | 16.52× | ||
| Q4 24 | — | 18.81× | ||
| Q3 24 | — | 17.75× | ||
| Q2 24 | — | 60.11× | ||
| Q1 24 | — | 181.54× |
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 | $141.0M |
| Free Cash FlowOCF − Capex | $333.9M | $96.0M |
| FCF MarginFCF / Revenue | 16.3% | 6.4% |
| Capex IntensityCapex / Revenue | 2.6% | 3.0% |
| Cash ConversionOCF / Net Profit | 164.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $538.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $141.0M | ||
| Q3 25 | $387.6M | $264.0M | ||
| Q2 25 | $146.2M | $220.0M | ||
| Q1 25 | $268.2M | $75.0M | ||
| Q4 24 | — | $390.0M | ||
| Q3 24 | $402.7M | $141.0M | ||
| Q2 24 | $218.6M | $332.0M | ||
| Q1 24 | $327.1M | $76.0M |
| Q4 25 | — | $96.0M | ||
| Q3 25 | $333.9M | $218.0M | ||
| Q2 25 | $113.9M | $181.0M | ||
| Q1 25 | $239.3M | $43.0M | ||
| Q4 24 | — | $335.0M | ||
| Q3 24 | $359.3M | $99.0M | ||
| Q2 24 | $182.3M | $300.0M | ||
| Q1 24 | $299.9M | $30.0M |
| Q4 25 | — | 6.4% | ||
| Q3 25 | 16.3% | 13.6% | ||
| Q2 25 | 5.6% | 11.4% | ||
| Q1 25 | 12.0% | 2.8% | ||
| Q4 24 | — | 21.0% | ||
| Q3 24 | 17.7% | 6.3% | ||
| Q2 24 | 8.6% | 18.7% | ||
| Q1 24 | 14.3% | 1.8% |
| Q4 25 | — | 3.0% | ||
| Q3 25 | 2.6% | 2.9% | ||
| Q2 25 | 1.6% | 2.4% | ||
| Q1 25 | 1.4% | 2.1% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | 2.1% | 2.7% | ||
| Q2 24 | 1.7% | 2.0% | ||
| Q1 24 | 1.3% | 2.8% |
| Q4 25 | — | — | ||
| Q3 25 | 164.59× | 1.65× | ||
| Q2 25 | 0.80× | 1.52× | ||
| Q1 25 | 1.74× | 0.86× | ||
| Q4 24 | — | 3.58× | ||
| Q3 24 | 2.04× | 0.39× | ||
| Q2 24 | 1.49× | 1.70× | ||
| Q1 24 | 1.74× | 0.38× |
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% |
OGN
Segment breakdown not available.
