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Side-by-side financial comparison of ICON PLC (ICLR) and OPEN TEXT CORP (OTEX). Click either name above to swap in a different company.
ICON PLC is the larger business by last-quarter revenue ($2.0B vs $1.3B, roughly 1.5× OPEN TEXT CORP). OPEN TEXT CORP runs the higher net margin — 12.7% vs 0.1%, a 12.6% gap on every dollar of revenue. On growth, ICON PLC posted the faster year-over-year revenue change (0.6% vs -0.6%). ICON PLC produced more free cash flow last quarter ($333.9M vs $279.4M). Over the past eight quarters, ICON PLC's revenue compounded faster (0.6% CAGR vs -4.3%).
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.
Open Text Corporation is a global software company that develops and sells information management software.
ICLR vs OTEX — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $1.3B |
| Net Profit | $2.4M | $168.1M |
| Gross Margin | — | 74.0% |
| Operating Margin | 4.2% | 22.0% |
| Net Margin | 0.1% | 12.7% |
| Revenue YoY | 0.6% | -0.6% |
| Net Profit YoY | -98.8% | -26.9% |
| EPS (diluted) | $0.03 | $0.66 |
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 | — | $1.3B | ||
| Q3 25 | $2.0B | $1.3B | ||
| Q2 25 | $2.0B | $1.3B | ||
| Q1 25 | $2.0B | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $2.0B | $1.3B | ||
| Q2 24 | $2.1B | $1.4B | ||
| Q1 24 | $2.1B | $1.4B |
| Q4 25 | — | $168.1M | ||
| Q3 25 | $2.4M | $146.6M | ||
| Q2 25 | $183.0M | $28.8M | ||
| Q1 25 | $154.2M | $92.8M | ||
| Q4 24 | — | $229.9M | ||
| Q3 24 | $197.1M | $84.4M | ||
| Q2 24 | $146.9M | $248.2M | ||
| Q1 24 | $187.4M | $98.3M |
| Q4 25 | — | 74.0% | ||
| Q3 25 | — | 72.8% | ||
| Q2 25 | — | 72.3% | ||
| Q1 25 | — | 71.6% | ||
| Q4 24 | — | 73.3% | ||
| Q3 24 | — | 71.7% | ||
| Q2 24 | — | 72.5% | ||
| Q1 24 | — | 73.0% |
| Q4 25 | — | 22.0% | ||
| Q3 25 | 4.2% | 21.0% | ||
| Q2 25 | 10.4% | 13.9% | ||
| Q1 25 | 11.0% | 16.7% | ||
| Q4 24 | — | 22.2% | ||
| Q3 24 | 14.1% | 16.3% | ||
| Q2 24 | 10.8% | 14.2% | ||
| Q1 24 | 13.7% | 15.7% |
| Q4 25 | — | 12.7% | ||
| Q3 25 | 0.1% | 11.4% | ||
| Q2 25 | 9.1% | 2.2% | ||
| Q1 25 | 7.7% | 7.4% | ||
| Q4 24 | — | 17.2% | ||
| Q3 24 | 9.7% | 6.6% | ||
| Q2 24 | 6.9% | 18.2% | ||
| Q1 24 | 9.0% | 6.8% |
| Q4 25 | — | $0.66 | ||
| Q3 25 | $0.03 | $0.58 | ||
| Q2 25 | $2.30 | $0.11 | ||
| Q1 25 | $1.90 | $0.35 | ||
| Q4 24 | — | $0.87 | ||
| Q3 24 | $2.36 | $0.32 | ||
| Q2 24 | $1.76 | $0.91 | ||
| Q1 24 | $2.25 | $0.36 |
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 | $1.3B |
| Total DebtLower is stronger | — | $6.4B |
| Stockholders' EquityBook value | $9.3B | $4.0B |
| Total Assets | $16.5B | $13.6B |
| Debt / EquityLower = less leverage | — | 1.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.3B | ||
| Q3 25 | $468.9M | $1.1B | ||
| Q2 25 | $390.4M | $1.2B | ||
| Q1 25 | $526.7M | $1.3B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $695.5M | $1.0B | ||
| Q2 24 | $506.6M | $1.3B | ||
| Q1 24 | $396.1M | $1.1B |
| Q4 25 | — | $6.4B | ||
| Q3 25 | — | $6.4B | ||
| Q2 25 | — | $6.4B | ||
| Q1 25 | — | $6.4B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.4B | ||
| Q1 24 | — | $8.4B |
| Q4 25 | — | $4.0B | ||
| Q3 25 | $9.3B | $4.0B | ||
| Q2 25 | $9.6B | $3.9B | ||
| Q1 25 | $9.5B | $4.1B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | $9.8B | $4.1B | ||
| Q2 24 | $9.6B | $4.2B | ||
| Q1 24 | $9.4B | $4.1B |
| Q4 25 | — | $13.6B | ||
| Q3 25 | $16.5B | $13.5B | ||
| Q2 25 | $16.6B | $13.8B | ||
| Q1 25 | $16.7B | $13.8B | ||
| Q4 24 | — | $13.7B | ||
| Q3 24 | $17.2B | $13.8B | ||
| Q2 24 | $17.0B | $14.2B | ||
| Q1 24 | $17.0B | $16.4B |
| Q4 25 | — | 1.58× | ||
| Q3 25 | — | 1.61× | ||
| Q2 25 | — | 1.62× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | — | 1.55× | ||
| Q2 24 | — | 1.52× | ||
| Q1 24 | — | 2.02× |
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 | $318.7M |
| Free Cash FlowOCF − Capex | $333.9M | $279.4M |
| FCF MarginFCF / Revenue | 16.3% | 21.1% |
| Capex IntensityCapex / Revenue | 2.6% | 3.0% |
| Cash ConversionOCF / Net Profit | 164.59× | 1.90× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $878.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $318.7M | ||
| Q3 25 | $387.6M | $147.8M | ||
| Q2 25 | $146.2M | $158.2M | ||
| Q1 25 | $268.2M | $402.2M | ||
| Q4 24 | — | $348.0M | ||
| Q3 24 | $402.7M | $-77.8M | ||
| Q2 24 | $218.6M | $185.2M | ||
| Q1 24 | $327.1M | $384.7M |
| Q4 25 | — | $279.4M | ||
| Q3 25 | $333.9M | $101.2M | ||
| Q2 25 | $113.9M | $124.0M | ||
| Q1 25 | $239.3M | $373.8M | ||
| Q4 24 | — | $306.7M | ||
| Q3 24 | $359.3M | $-117.1M | ||
| Q2 24 | $182.3M | $145.2M | ||
| Q1 24 | $299.9M | $348.2M |
| Q4 25 | — | 21.1% | ||
| Q3 25 | 16.3% | 7.9% | ||
| Q2 25 | 5.6% | 9.5% | ||
| Q1 25 | 12.0% | 29.8% | ||
| Q4 24 | — | 23.0% | ||
| Q3 24 | 17.7% | -9.2% | ||
| Q2 24 | 8.6% | 10.7% | ||
| Q1 24 | 14.3% | 24.1% |
| Q4 25 | — | 3.0% | ||
| Q3 25 | 2.6% | 3.6% | ||
| Q2 25 | 1.6% | 2.6% | ||
| Q1 25 | 1.4% | 2.3% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | 2.1% | 3.1% | ||
| Q2 24 | 1.7% | 2.9% | ||
| Q1 24 | 1.3% | 2.5% |
| Q4 25 | — | 1.90× | ||
| Q3 25 | 164.59× | 1.01× | ||
| Q2 25 | 0.80× | 5.49× | ||
| Q1 25 | 1.74× | 4.33× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | 2.04× | -0.92× | ||
| Q2 24 | 1.49× | 0.75× | ||
| Q1 24 | 1.74× | 3.91× |
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% |
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
