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Side-by-side financial comparison of ICON PLC (ICLR) and UGI CORP (UGI). Click either name above to swap in a different company.
UGI CORP is the larger business by last-quarter revenue ($2.1B vs $2.0B, roughly 1.0× ICON PLC). UGI CORP runs the higher net margin — 14.4% vs 0.1%, a 14.3% gap on every dollar of revenue. On growth, UGI CORP posted the faster year-over-year revenue change (3.9% vs 0.6%). ICON PLC produced more free cash flow last quarter ($333.9M vs $-155.0M). Over the past eight quarters, ICON PLC's revenue compounded faster (0.6% CAGR vs -7.5%).
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.
UGI Corporation is a natural gas and electric power distribution company headquartered in King of Prussia, Pennsylvania, with extensive operations in the United States and Europe.
ICLR vs UGI — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $2.1B |
| Net Profit | $2.4M | $297.0M |
| Gross Margin | — | — |
| Operating Margin | 4.2% | 22.0% |
| Net Margin | 0.1% | 14.4% |
| Revenue YoY | 0.6% | 3.9% |
| Net Profit YoY | -98.8% | -20.8% |
| EPS (diluted) | $0.03 | $1.34 |
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 | — | $2.1B | ||
| Q3 25 | $2.0B | $1.2B | ||
| Q2 25 | $2.0B | $1.4B | ||
| Q1 25 | $2.0B | $2.6B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | $2.0B | $1.2B | ||
| Q2 24 | $2.1B | $1.4B | ||
| Q1 24 | $2.1B | $2.4B |
| Q4 25 | — | $297.0M | ||
| Q3 25 | $2.4M | $-13.0M | ||
| Q2 25 | $183.0M | $-163.0M | ||
| Q1 25 | $154.2M | $479.0M | ||
| Q4 24 | — | $375.0M | ||
| Q3 24 | $197.1M | $-273.0M | ||
| Q2 24 | $146.9M | $-48.0M | ||
| Q1 24 | $187.4M | $496.0M |
| Q4 25 | — | 22.0% | ||
| Q3 25 | 4.2% | 1.1% | ||
| Q2 25 | 10.4% | -6.8% | ||
| Q1 25 | 11.0% | 26.6% | ||
| Q4 24 | — | 24.5% | ||
| Q3 24 | 14.1% | -20.4% | ||
| Q2 24 | 10.8% | 5.0% | ||
| Q1 24 | 13.7% | 29.7% |
| Q4 25 | — | 14.4% | ||
| Q3 25 | 0.1% | -1.1% | ||
| Q2 25 | 9.1% | -12.0% | ||
| Q1 25 | 7.7% | 18.2% | ||
| Q4 24 | — | 18.9% | ||
| Q3 24 | 9.7% | -22.6% | ||
| Q2 24 | 6.9% | -3.6% | ||
| Q1 24 | 9.0% | 20.6% |
| Q4 25 | — | $1.34 | ||
| Q3 25 | $0.03 | $-0.08 | ||
| Q2 25 | $2.30 | $-0.76 | ||
| Q1 25 | $1.90 | $2.19 | ||
| Q4 24 | — | $1.74 | ||
| Q3 24 | $2.36 | $-1.26 | ||
| Q2 24 | $1.76 | $-0.23 | ||
| Q1 24 | $2.25 | $2.30 |
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 | $251.0M |
| Total DebtLower is stronger | — | $6.0B |
| Stockholders' EquityBook value | $9.3B | $5.0B |
| Total Assets | $16.5B | $15.8B |
| Debt / EquityLower = less leverage | — | 1.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $251.0M | ||
| Q3 25 | $468.9M | $335.0M | ||
| Q2 25 | $390.4M | $350.0M | ||
| Q1 25 | $526.7M | $426.0M | ||
| Q4 24 | — | $240.0M | ||
| Q3 24 | $695.5M | $213.0M | ||
| Q2 24 | $506.6M | $183.0M | ||
| Q1 24 | $396.1M | $263.0M |
| Q4 25 | — | $6.0B | ||
| Q3 25 | — | $6.5B | ||
| Q2 25 | — | $5.7B | ||
| Q1 25 | — | $6.6B | ||
| Q4 24 | — | $6.6B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.3B | ||
| Q1 24 | — | $6.7B |
| Q4 25 | — | $5.0B | ||
| Q3 25 | $9.3B | $4.8B | ||
| Q2 25 | $9.6B | $4.9B | ||
| Q1 25 | $9.5B | $5.0B | ||
| Q4 24 | — | $4.6B | ||
| Q3 24 | $9.8B | $4.3B | ||
| Q2 24 | $9.6B | $4.7B | ||
| Q1 24 | $9.4B | $4.8B |
| Q4 25 | — | $15.8B | ||
| Q3 25 | $16.5B | $15.5B | ||
| Q2 25 | $16.6B | $15.4B | ||
| Q1 25 | $16.7B | $15.7B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | $17.2B | $15.1B | ||
| Q2 24 | $17.0B | $15.1B | ||
| Q1 24 | $17.0B | $15.6B |
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 1.34× | ||
| Q1 24 | — | 1.40× |
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 | $66.0M |
| Free Cash FlowOCF − Capex | $333.9M | $-155.0M |
| FCF MarginFCF / Revenue | 16.3% | -7.5% |
| Capex IntensityCapex / Revenue | 2.6% | 10.7% |
| Cash ConversionOCF / Net Profit | 164.59× | 0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $282.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $66.0M | ||
| Q3 25 | $387.6M | $90.0M | ||
| Q2 25 | $146.2M | $289.0M | ||
| Q1 25 | $268.2M | $684.0M | ||
| Q4 24 | — | $164.0M | ||
| Q3 24 | $402.7M | $151.0M | ||
| Q2 24 | $218.6M | $390.0M | ||
| Q1 24 | $327.1M | $522.0M |
| Q4 25 | — | $-155.0M | ||
| Q3 25 | $333.9M | $-168.0M | ||
| Q2 25 | $113.9M | $67.0M | ||
| Q1 25 | $239.3M | $538.0M | ||
| Q4 24 | — | $-47.0M | ||
| Q3 24 | $359.3M | $-115.0M | ||
| Q2 24 | $182.3M | $185.0M | ||
| Q1 24 | $299.9M | $353.0M |
| Q4 25 | — | -7.5% | ||
| Q3 25 | 16.3% | -14.4% | ||
| Q2 25 | 5.6% | 4.9% | ||
| Q1 25 | 12.0% | 20.4% | ||
| Q4 24 | — | -2.4% | ||
| Q3 24 | 17.7% | -9.5% | ||
| Q2 24 | 8.6% | 13.7% | ||
| Q1 24 | 14.3% | 14.6% |
| Q4 25 | — | 10.7% | ||
| Q3 25 | 2.6% | 22.1% | ||
| Q2 25 | 1.6% | 16.3% | ||
| Q1 25 | 1.4% | 5.5% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | 2.1% | 22.0% | ||
| Q2 24 | 1.7% | 15.2% | ||
| Q1 24 | 1.3% | 7.0% |
| Q4 25 | — | 0.22× | ||
| Q3 25 | 164.59× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 1.74× | 1.43× | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | 2.04× | — | ||
| Q2 24 | 1.49× | — | ||
| Q1 24 | 1.74× | 1.05× |
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% |
UGI
Segment breakdown not available.
