vs
Side-by-side financial comparison of ICON PLC (ICLR) and Qnity Electronics, Inc. (Q). 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 1.6× Qnity Electronics, Inc.). Qnity Electronics, Inc. runs the higher net margin — 16.5% vs 0.1%, a 16.4% gap on every dollar of revenue. On growth, Qnity Electronics, Inc. posted the faster year-over-year revenue change (11.1% vs 0.6%). Qnity Electronics, Inc. produced more free cash flow last quarter ($568.0M vs $333.9M).
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.
ICLR vs Q — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $1.3B |
| Net Profit | $2.4M | $211.0M |
| Gross Margin | — | 45.1% |
| Operating Margin | 4.2% | 21.3% |
| Net Margin | 0.1% | 16.5% |
| Revenue YoY | 0.6% | 11.1% |
| Net Profit YoY | -98.8% | 6.0% |
| EPS (diluted) | $0.03 | $1.01 |
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.
| Q3 25 | $2.0B | $1.3B | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q3 24 | $2.0B | $1.1B | ||
| Q2 24 | $2.1B | — | ||
| Q1 24 | $2.1B | — | ||
| Q3 23 | $2.1B | — | ||
| Q2 23 | $2.0B | — |
| Q3 25 | $2.4M | $211.0M | ||
| Q2 25 | $183.0M | — | ||
| Q1 25 | $154.2M | — | ||
| Q3 24 | $197.1M | $199.0M | ||
| Q2 24 | $146.9M | — | ||
| Q1 24 | $187.4M | — | ||
| Q3 23 | $163.7M | — | ||
| Q2 23 | $115.6M | — |
| Q3 25 | — | 45.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | 47.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — |
| Q3 25 | 4.2% | 21.3% | ||
| Q2 25 | 10.4% | — | ||
| Q1 25 | 11.0% | — | ||
| Q3 24 | 14.1% | 21.8% | ||
| Q2 24 | 10.8% | — | ||
| Q1 24 | 13.7% | — | ||
| Q3 23 | 12.9% | — | ||
| Q2 23 | 10.4% | — |
| Q3 25 | 0.1% | 16.5% | ||
| Q2 25 | 9.1% | — | ||
| Q1 25 | 7.7% | — | ||
| Q3 24 | 9.7% | 17.3% | ||
| Q2 24 | 6.9% | — | ||
| Q1 24 | 9.0% | — | ||
| Q3 23 | 8.0% | — | ||
| Q2 23 | 5.7% | — |
| Q3 25 | $0.03 | $1.01 | ||
| Q2 25 | $2.30 | — | ||
| Q1 25 | $1.90 | — | ||
| Q3 24 | $2.36 | $0.95 | ||
| Q2 24 | $1.76 | — | ||
| Q1 24 | $2.25 | — | ||
| Q3 23 | $1.97 | — | ||
| Q2 23 | $1.40 | — |
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 | $128.0M |
| Total DebtLower is stronger | — | $1.7B |
| Stockholders' EquityBook value | $9.3B | $9.1B |
| Total Assets | $16.5B | $12.5B |
| Debt / EquityLower = less leverage | — | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $468.9M | $128.0M | ||
| Q2 25 | $390.4M | — | ||
| Q1 25 | $526.7M | — | ||
| Q3 24 | $695.5M | — | ||
| Q2 24 | $506.6M | — | ||
| Q1 24 | $396.1M | — | ||
| Q3 23 | $313.1M | — | ||
| Q2 23 | $270.2M | — |
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — |
| Q3 25 | $9.3B | $9.1B | ||
| Q2 25 | $9.6B | — | ||
| Q1 25 | $9.5B | — | ||
| Q3 24 | $9.8B | $11.1B | ||
| Q2 24 | $9.6B | — | ||
| Q1 24 | $9.4B | — | ||
| Q3 23 | $9.0B | — | ||
| Q2 23 | $8.8B | — |
| Q3 25 | $16.5B | $12.5B | ||
| Q2 25 | $16.6B | — | ||
| Q1 25 | $16.7B | — | ||
| Q3 24 | $17.2B | — | ||
| Q2 24 | $17.0B | — | ||
| Q1 24 | $17.0B | — | ||
| Q3 23 | $17.0B | — | ||
| Q2 23 | $17.1B | — |
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — |
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 | $782.0M |
| Free Cash FlowOCF − Capex | $333.9M | $568.0M |
| FCF MarginFCF / Revenue | 16.3% | 44.5% |
| Capex IntensityCapex / Revenue | 2.6% | 16.8% |
| Cash ConversionOCF / Net Profit | 164.59× | 3.71× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $387.6M | $782.0M | ||
| Q2 25 | $146.2M | — | ||
| Q1 25 | $268.2M | — | ||
| Q3 24 | $402.7M | — | ||
| Q2 24 | $218.6M | — | ||
| Q1 24 | $327.1M | — | ||
| Q3 23 | $341.5M | — | ||
| Q2 23 | $203.9M | — |
| Q3 25 | $333.9M | $568.0M | ||
| Q2 25 | $113.9M | — | ||
| Q1 25 | $239.3M | — | ||
| Q3 24 | $359.3M | — | ||
| Q2 24 | $182.3M | — | ||
| Q1 24 | $299.9M | — | ||
| Q3 23 | $312.4M | — | ||
| Q2 23 | $171.7M | — |
| Q3 25 | 16.3% | 44.5% | ||
| Q2 25 | 5.6% | — | ||
| Q1 25 | 12.0% | — | ||
| Q3 24 | 17.7% | — | ||
| Q2 24 | 8.6% | — | ||
| Q1 24 | 14.3% | — | ||
| Q3 23 | 15.2% | — | ||
| Q2 23 | 8.5% | — |
| Q3 25 | 2.6% | 16.8% | ||
| Q2 25 | 1.6% | — | ||
| Q1 25 | 1.4% | — | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | 1.3% | — | ||
| Q3 23 | 1.4% | — | ||
| Q2 23 | 1.6% | — |
| Q3 25 | 164.59× | 3.71× | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 1.74× | — | ||
| Q3 24 | 2.04× | — | ||
| Q2 24 | 1.49× | — | ||
| Q1 24 | 1.74× | — | ||
| Q3 23 | 2.09× | — | ||
| Q2 23 | 1.76× | — |
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% |
Q
| Semiconductor Technologies | $693.0M | 54% |
| Interconnect Solutions | $583.0M | 46% |
