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Side-by-side financial comparison of ICON PLC (ICLR) and PAR PACIFIC HOLDINGS, INC. (PARR). Click either name above to swap in a different company.

ICON PLC is the larger business by last-quarter revenue ($2.0B vs $1.8B, roughly 1.1× PAR PACIFIC HOLDINGS, INC.). PAR PACIFIC HOLDINGS, INC. runs the higher net margin — 2.5% vs 0.1%, a 2.4% gap on every dollar of revenue. On growth, PAR PACIFIC HOLDINGS, INC. posted the faster year-over-year revenue change (4.5% vs 0.6%). Over the past eight quarters, ICON PLC's revenue compounded faster (0.6% CAGR vs -4.9%).

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.

Par Pacific Holdings is a Houston-based American oil and gas exploration and production company. Known as Par Petroleum Corporation after it emerged from bankruptcy, it was renamed Par Pacific Holdings on October 20, 2015. As of 2017 it was a Fortune 1000 corporation.

ICLR vs PARR — Head-to-Head

Bigger by revenue
ICLR
ICLR
1.1× larger
ICLR
$2.0B
$1.8B
PARR
Growing faster (revenue YoY)
PARR
PARR
+3.9% gap
PARR
4.5%
0.6%
ICLR
Higher net margin
PARR
PARR
2.4% more per $
PARR
2.5%
0.1%
ICLR
Faster 2-yr revenue CAGR
ICLR
ICLR
Annualised
ICLR
0.6%
-4.9%
PARR

Income Statement — Q3 FY2025 vs Q1 FY2026

Metric
ICLR
ICLR
PARR
PARR
Revenue
$2.0B
$1.8B
Net Profit
$2.4M
$46.2M
Gross Margin
Operating Margin
4.2%
3.1%
Net Margin
0.1%
2.5%
Revenue YoY
0.6%
4.5%
Net Profit YoY
-98.8%
279.1%
EPS (diluted)
$0.03
$1.10

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.

Revenue
ICLR
ICLR
PARR
PARR
Q1 26
$1.8B
Q4 25
$1.8B
Q3 25
$2.0B
$2.0B
Q2 25
$2.0B
$1.9B
Q1 25
$2.0B
$1.7B
Q4 24
$1.8B
Q3 24
$2.0B
$2.1B
Q2 24
$2.1B
$2.0B
Net Profit
ICLR
ICLR
PARR
PARR
Q1 26
$46.2M
Q4 25
$77.7M
Q3 25
$2.4M
$262.6M
Q2 25
$183.0M
$59.5M
Q1 25
$154.2M
$-30.4M
Q4 24
$-55.7M
Q3 24
$197.1M
$7.5M
Q2 24
$146.9M
$18.6M
Operating Margin
ICLR
ICLR
PARR
PARR
Q1 26
3.1%
Q4 25
5.5%
Q3 25
4.2%
17.8%
Q2 25
10.4%
5.1%
Q1 25
11.0%
-0.9%
Q4 24
-2.6%
Q3 24
14.1%
1.7%
Q2 24
10.8%
2.4%
Net Margin
ICLR
ICLR
PARR
PARR
Q1 26
2.5%
Q4 25
4.3%
Q3 25
0.1%
13.0%
Q2 25
9.1%
3.1%
Q1 25
7.7%
-1.7%
Q4 24
-3.0%
Q3 24
9.7%
0.3%
Q2 24
6.9%
0.9%
EPS (diluted)
ICLR
ICLR
PARR
PARR
Q1 26
$1.10
Q4 25
$1.40
Q3 25
$0.03
$5.16
Q2 25
$2.30
$1.17
Q1 25
$1.90
$-0.57
Q4 24
$-0.98
Q3 24
$2.36
$0.13
Q2 24
$1.76
$0.32

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ICLR
ICLR
PARR
PARR
Cash + ST InvestmentsLiquidity on hand
$468.9M
$172.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$9.3B
$1.5B
Total Assets
$16.5B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ICLR
ICLR
PARR
PARR
Q1 26
$172.2M
Q4 25
$164.1M
Q3 25
$468.9M
$159.1M
Q2 25
$390.4M
$169.2M
Q1 25
$526.7M
$133.7M
Q4 24
$191.9M
Q3 24
$695.5M
$183.0M
Q2 24
$506.6M
$179.7M
Total Debt
ICLR
ICLR
PARR
PARR
Q1 26
Q4 25
$802.9M
Q3 25
$967.1M
Q2 25
$1.1B
Q1 25
$1.2B
Q4 24
$1.1B
Q3 24
$1.0B
Q2 24
$1.1B
Stockholders' Equity
ICLR
ICLR
PARR
PARR
Q1 26
$1.5B
Q4 25
$1.5B
Q3 25
$9.3B
$1.4B
Q2 25
$9.6B
$1.1B
Q1 25
$9.5B
$1.1B
Q4 24
$1.2B
Q3 24
$9.8B
$1.3B
Q2 24
$9.6B
$1.3B
Total Assets
ICLR
ICLR
PARR
PARR
Q1 26
Q4 25
$3.8B
Q3 25
$16.5B
$4.1B
Q2 25
$16.6B
$3.9B
Q1 25
$16.7B
$3.8B
Q4 24
$3.8B
Q3 24
$17.2B
$3.9B
Q2 24
$17.0B
$3.9B
Debt / Equity
ICLR
ICLR
PARR
PARR
Q1 26
Q4 25
0.53×
Q3 25
0.69×
Q2 25
0.97×
Q1 25
1.04×
Q4 24
0.93×
Q3 24
0.83×
Q2 24
0.84×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ICLR
ICLR
PARR
PARR
Operating Cash FlowLast quarter
$387.6M
Free Cash FlowOCF − Capex
$333.9M
FCF MarginFCF / Revenue
16.3%
Capex IntensityCapex / Revenue
2.6%
Cash ConversionOCF / Net Profit
164.59×
TTM Free Cash FlowTrailing 4 quarters
$1.0B

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ICLR
ICLR
PARR
PARR
Q1 26
Q4 25
$93.8M
Q3 25
$387.6M
$219.4M
Q2 25
$146.2M
$133.6M
Q1 25
$268.2M
$-1.4M
Q4 24
$-15.5M
Q3 24
$402.7M
$78.5M
Q2 24
$218.6M
$-4.7M
Free Cash Flow
ICLR
ICLR
PARR
PARR
Q1 26
Q4 25
$66.3M
Q3 25
$333.9M
$187.1M
Q2 25
$113.9M
$85.5M
Q1 25
$239.3M
$-42.3M
Q4 24
$-63.1M
Q3 24
$359.3M
$50.2M
Q2 24
$182.3M
$-41.6M
FCF Margin
ICLR
ICLR
PARR
PARR
Q1 26
Q4 25
3.7%
Q3 25
16.3%
9.3%
Q2 25
5.6%
4.5%
Q1 25
12.0%
-2.4%
Q4 24
-3.4%
Q3 24
17.7%
2.3%
Q2 24
8.6%
-2.1%
Capex Intensity
ICLR
ICLR
PARR
PARR
Q1 26
Q4 25
1.5%
Q3 25
2.6%
1.6%
Q2 25
1.6%
2.5%
Q1 25
1.4%
2.3%
Q4 24
2.6%
Q3 24
2.1%
1.3%
Q2 24
1.7%
1.8%
Cash Conversion
ICLR
ICLR
PARR
PARR
Q1 26
Q4 25
1.21×
Q3 25
164.59×
0.84×
Q2 25
0.80×
2.25×
Q1 25
1.74×
Q4 24
Q3 24
2.04×
10.48×
Q2 24
1.49×
-0.25×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

ICLR
ICLR

Other Customers$681.3M33%
Clients1125$549.4M27%
Clients15$503.3M25%
Clients610$308.8M15%

PARR
PARR

Segment breakdown not available.

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