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Side-by-side financial comparison of ICON PLC (ICLR) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). Click either name above to swap in a different company.
ICON PLC is the larger business by last-quarter revenue ($2.0B vs $1.2B, roughly 1.7× MARRIOTT VACATIONS WORLDWIDE Corp). ICON PLC runs the higher net margin — 0.1% vs -35.0%, a 35.1% gap on every dollar of revenue. On growth, ICON PLC posted the faster year-over-year revenue change (0.6% vs -0.7%). ICON PLC produced more free cash flow last quarter ($333.9M vs $-6.0M). Over the past eight quarters, MARRIOTT VACATIONS WORLDWIDE Corp's revenue compounded faster (5.2% CAGR vs 0.6%).
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.
Marriott Vacations Worldwide Corporation is a pure-play public timeshare company. Formerly a division of Marriott International, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011. Marriott Vacations Worldwide runs more than 120 resorts with over 700,000 Owners and members in a diverse portfolio of brands under The Marriott Vacation Clubs name. Its brands include Marriott Vacation Club, The Marriott Vaca...
ICLR vs VAC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $1.2B |
| Net Profit | $2.4M | $-431.0M |
| Gross Margin | — | — |
| Operating Margin | 4.2% | — |
| Net Margin | 0.1% | -35.0% |
| Revenue YoY | 0.6% | -0.7% |
| Net Profit YoY | -98.8% | -962.0% |
| EPS (diluted) | $0.03 | $-12.00 |
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 | — | $1.2B | ||
| Q3 25 | $2.0B | $1.2B | ||
| Q2 25 | $2.0B | $1.2B | ||
| Q1 25 | $2.0B | $1.1B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $2.0B | $1.2B | ||
| Q2 24 | $2.1B | $1.1B | ||
| Q1 24 | $2.1B | $1.1B |
| Q4 25 | — | $-431.0M | ||
| Q3 25 | $2.4M | $-2.0M | ||
| Q2 25 | $183.0M | $69.0M | ||
| Q1 25 | $154.2M | $56.0M | ||
| Q4 24 | — | $50.0M | ||
| Q3 24 | $197.1M | $84.0M | ||
| Q2 24 | $146.9M | $37.0M | ||
| Q1 24 | $187.4M | $47.0M |
| Q4 25 | — | — | ||
| Q3 25 | 4.2% | — | ||
| Q2 25 | 10.4% | — | ||
| Q1 25 | 11.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 14.1% | — | ||
| Q2 24 | 10.8% | — | ||
| Q1 24 | 13.7% | — |
| Q4 25 | — | -35.0% | ||
| Q3 25 | 0.1% | -0.2% | ||
| Q2 25 | 9.1% | 6.0% | ||
| Q1 25 | 7.7% | 5.0% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | 9.7% | 6.9% | ||
| Q2 24 | 6.9% | 3.5% | ||
| Q1 24 | 9.0% | 4.2% |
| Q4 25 | — | $-12.00 | ||
| Q3 25 | $0.03 | $-0.07 | ||
| Q2 25 | $2.30 | $1.77 | ||
| Q1 25 | $1.90 | $1.46 | ||
| Q4 24 | — | $1.29 | ||
| Q3 24 | $2.36 | $2.12 | ||
| Q2 24 | $1.76 | $0.98 | ||
| Q1 24 | $2.25 | $1.22 |
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 | $406.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $9.3B | $2.0B |
| Total Assets | $16.5B | $9.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $406.0M | ||
| Q3 25 | $468.9M | $474.0M | ||
| Q2 25 | $390.4M | $205.0M | ||
| Q1 25 | $526.7M | $196.0M | ||
| Q4 24 | — | $197.0M | ||
| Q3 24 | $695.5M | $197.0M | ||
| Q2 24 | $506.6M | $206.0M | ||
| Q1 24 | $396.1M | $237.0M |
| Q4 25 | — | $2.0B | ||
| Q3 25 | $9.3B | $2.5B | ||
| Q2 25 | $9.6B | $2.5B | ||
| Q1 25 | $9.5B | $2.4B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | $9.8B | $2.4B | ||
| Q2 24 | $9.6B | $2.4B | ||
| Q1 24 | $9.4B | $2.4B |
| Q4 25 | — | $9.8B | ||
| Q3 25 | $16.5B | $10.1B | ||
| Q2 25 | $16.6B | $9.9B | ||
| Q1 25 | $16.7B | $9.9B | ||
| Q4 24 | — | $9.8B | ||
| Q3 24 | $17.2B | $9.7B | ||
| Q2 24 | $17.0B | $9.6B | ||
| Q1 24 | $17.0B | $9.9B |
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 | $6.0M |
| Free Cash FlowOCF − Capex | $333.9M | $-6.0M |
| FCF MarginFCF / Revenue | 16.3% | -0.5% |
| Capex IntensityCapex / Revenue | 2.6% | 1.0% |
| Cash ConversionOCF / Net Profit | 164.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $6.0M | ||
| Q3 25 | $387.6M | $62.0M | ||
| Q2 25 | $146.2M | $-48.0M | ||
| Q1 25 | $268.2M | $8.0M | ||
| Q4 24 | — | $100.0M | ||
| Q3 24 | $402.7M | $72.0M | ||
| Q2 24 | $218.6M | $30.0M | ||
| Q1 24 | $327.1M | $3.0M |
| Q4 25 | — | $-6.0M | ||
| Q3 25 | $333.9M | $51.0M | ||
| Q2 25 | $113.9M | $-68.0M | ||
| Q1 25 | $239.3M | $-6.0M | ||
| Q4 24 | — | $86.0M | ||
| Q3 24 | $359.3M | $58.0M | ||
| Q2 24 | $182.3M | $17.0M | ||
| Q1 24 | $299.9M | $-13.0M |
| Q4 25 | — | -0.5% | ||
| Q3 25 | 16.3% | 4.3% | ||
| Q2 25 | 5.6% | -5.9% | ||
| Q1 25 | 12.0% | -0.5% | ||
| Q4 24 | — | 6.9% | ||
| Q3 24 | 17.7% | 4.8% | ||
| Q2 24 | 8.6% | 1.6% | ||
| Q1 24 | 14.3% | -1.2% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | 2.6% | 0.9% | ||
| Q2 25 | 1.6% | 1.7% | ||
| Q1 25 | 1.4% | 1.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | 2.1% | 1.1% | ||
| Q2 24 | 1.7% | 1.2% | ||
| Q1 24 | 1.3% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | 164.59× | — | ||
| Q2 25 | 0.80× | -0.70× | ||
| Q1 25 | 1.74× | 0.14× | ||
| Q4 24 | — | 2.00× | ||
| Q3 24 | 2.04× | 0.86× | ||
| Q2 24 | 1.49× | 0.81× | ||
| Q1 24 | 1.74× | 0.06× |
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% |
VAC
| Cost Reimbursement | $467.0M | 38% |
| Time Share | $381.0M | 31% |
| Management And Exchange | $212.0M | 17% |
| Ancillary Revenues | $64.0M | 5% |
| Management Service | $55.0M | 4% |
| Service Other | $36.0M | 3% |
