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ICON PLC（ICLR）与维多利亚的秘密（VSCO）财务数据对比。点击上方公司名可切换其他公司
ICON PLC的季度营收约是维多利亚的秘密的1.4倍（$2.0B vs $1.5B），ICON PLC净利率更高（0.1% vs -2.5%，领先2.6%），维多利亚的秘密同比增速更快（9.3% vs 0.6%），ICON PLC自由现金流更多（$333.9M vs $-232.0M），过去两年ICON PLC的营收复合增速更高（0.6% vs -15.9%）
ICON plc是总部位于爱尔兰的跨国医疗智能与临床研究服务机构，专注为全球医药健康领域客户提供专业研究及情报支持，截至2025年2月，已在全球55个国家布局业务，员工规模约4.19万人。
维多利亚的秘密是美国知名内衣、服饰及美妆零售商，1977年由斯坦福大学研究生罗伊·雷蒙德与妻子盖伊共同创立，1982年旗下5家内衣门店被莱斯·韦克斯纳收购。韦克斯纳随后快速将门店布局到全美各大购物中心，到90年代初已在全国拥有350家门店，销售额达10亿美元，成为美国最大的内衣零售商。
ICLR vs VSCO — 直观对比
营收规模更大
ICLR
是对方的1.4倍
$1.5B
营收增速更快
VSCO
高出8.7%
0.6%
净利率更高
ICLR
高出2.6%
-2.5%
自由现金流更多
ICLR
多$565.9M
$-232.0M
两年增速更快
ICLR
近两年复合增速
-15.9%
损益表 — Q3 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.5B |
| 净利润 | $2.4M | $-37.0M |
| 毛利率 | — | 36.4% |
| 营业利润率 | 4.2% | -1.3% |
| 净利率 | 0.1% | -2.5% |
| 营收同比 | 0.6% | 9.3% |
| 净利润同比 | -98.8% | 33.9% |
| 每股收益（稀释后） | $0.03 | $-0.46 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ICLRVSCO
| Q4 25 | — | $1.5B | ||
| Q3 25 | $2.0B | $1.5B | ||
| Q2 25 | $2.0B | $1.4B | ||
| Q1 25 | $2.0B | $2.1B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $2.0B | $1.4B | ||
| Q2 24 | $2.1B | $1.4B | ||
| Q1 24 | $2.1B | $2.1B |
净利润ICLRVSCO
| Q4 25 | — | $-37.0M | ||
| Q3 25 | $2.4M | $16.0M | ||
| Q2 25 | $183.0M | $-2.0M | ||
| Q1 25 | $154.2M | $193.0M | ||
| Q4 24 | — | $-56.0M | ||
| Q3 24 | $197.1M | $32.0M | ||
| Q2 24 | $146.9M | $-4.0M | ||
| Q1 24 | $187.4M | $180.0M |
毛利率ICLRVSCO
| Q4 25 | — | 36.4% | ||
| Q3 25 | — | 35.6% | ||
| Q2 25 | — | 35.0% | ||
| Q1 25 | — | 38.6% | ||
| Q4 24 | — | 34.7% | ||
| Q3 24 | — | 35.4% | ||
| Q2 24 | — | 36.9% | ||
| Q1 24 | — | 39.7% |
营业利润率ICLRVSCO
| Q4 25 | — | -1.3% | ||
| Q3 25 | 4.2% | 2.8% | ||
| Q2 25 | 10.4% | 1.5% | ||
| Q1 25 | 11.0% | 12.8% | ||
| Q4 24 | — | -3.5% | ||
| Q3 24 | 14.1% | 4.4% | ||
| Q2 24 | 10.8% | 1.9% | ||
| Q1 24 | 13.7% | 12.4% |
净利率ICLRVSCO
| Q4 25 | — | -2.5% | ||
| Q3 25 | 0.1% | 1.1% | ||
| Q2 25 | 9.1% | -0.1% | ||
| Q1 25 | 7.7% | 9.2% | ||
| Q4 24 | — | -4.2% | ||
| Q3 24 | 9.7% | 2.3% | ||
| Q2 24 | 6.9% | -0.3% | ||
| Q1 24 | 9.0% | 8.6% |
每股收益（稀释后）ICLRVSCO
| Q4 25 | — | $-0.46 | ||
| Q3 25 | $0.03 | $0.20 | ||
| Q2 25 | $2.30 | $-0.02 | ||
| Q1 25 | $1.90 | $2.41 | ||
| Q4 24 | — | $-0.71 | ||
| Q3 24 | $2.36 | $0.40 | ||
| Q2 24 | $1.76 | $-0.05 | ||
| Q1 24 | $2.25 | $2.32 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $468.9M | $249.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $9.3B | $653.0M |
| 总资产 | $16.5B | $5.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ICLRVSCO
| Q4 25 | — | $249.0M | ||
| Q3 25 | $468.9M | $188.0M | ||
| Q2 25 | $390.4M | $138.0M | ||
| Q1 25 | $526.7M | $227.0M | ||
| Q4 24 | — | $161.0M | ||
| Q3 24 | $695.5M | $169.0M | ||
| Q2 24 | $506.6M | $105.0M | ||
| Q1 24 | $396.1M | $270.0M |
股东权益ICLRVSCO
| Q4 25 | — | $653.0M | ||
| Q3 25 | $9.3B | $680.0M | ||
| Q2 25 | $9.6B | $645.0M | ||
| Q1 25 | $9.5B | $640.0M | ||
| Q4 24 | — | $429.0M | ||
| Q3 24 | $9.8B | $472.0M | ||
| Q2 24 | $9.6B | $423.0M | ||
| Q1 24 | $9.4B | $417.0M |
总资产ICLRVSCO
| Q4 25 | — | $5.1B | ||
| Q3 25 | $16.5B | $4.8B | ||
| Q2 25 | $16.6B | $4.6B | ||
| Q1 25 | $16.7B | $4.5B | ||
| Q4 24 | — | $4.9B | ||
| Q3 24 | $17.2B | $4.6B | ||
| Q2 24 | $17.0B | $4.4B | ||
| Q1 24 | $17.0B | $4.6B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $387.6M | $-180.0M |
| 自由现金流经营现金流 - 资本支出 | $333.9M | $-232.0M |
| 自由现金流率自由现金流/营收 | 16.3% | -15.8% |
| 资本支出强度资本支出/营收 | 2.6% | 3.5% |
| 现金转化率经营现金流/净利润 | 164.59× | — |
| 过去12个月自由现金流最近4个季度 | $1.0B | $309.0M |
8季度趋势，按日历期对齐
经营现金流ICLRVSCO
| Q4 25 | — | $-180.0M | ||
| Q3 25 | $387.6M | $156.0M | ||
| Q2 25 | $146.2M | $-150.0M | ||
| Q1 25 | $268.2M | $674.0M | ||
| Q4 24 | — | $-248.0M | ||
| Q3 24 | $402.7M | $115.0M | ||
| Q2 24 | $218.6M | $-116.0M | ||
| Q1 24 | $327.1M | $589.0M |
自由现金流ICLRVSCO
| Q4 25 | — | $-232.0M | ||
| Q3 25 | $333.9M | $88.0M | ||
| Q2 25 | $113.9M | $-193.0M | ||
| Q1 25 | $239.3M | $646.0M | ||
| Q4 24 | — | $-299.0M | ||
| Q3 24 | $359.3M | $55.0M | ||
| Q2 24 | $182.3M | $-155.0M | ||
| Q1 24 | $299.9M | $557.0M |
自由现金流率ICLRVSCO
| Q4 25 | — | -15.8% | ||
| Q3 25 | 16.3% | 6.0% | ||
| Q2 25 | 5.6% | -14.3% | ||
| Q1 25 | 12.0% | 30.7% | ||
| Q4 24 | — | -22.2% | ||
| Q3 24 | 17.7% | 3.9% | ||
| Q2 24 | 8.6% | -11.4% | ||
| Q1 24 | 14.3% | 26.7% |
资本支出强度ICLRVSCO
| Q4 25 | — | 3.5% | ||
| Q3 25 | 2.6% | 4.7% | ||
| Q2 25 | 1.6% | 3.2% | ||
| Q1 25 | 1.4% | 1.3% | ||
| Q4 24 | — | 3.8% | ||
| Q3 24 | 2.1% | 4.2% | ||
| Q2 24 | 1.7% | 2.9% | ||
| Q1 24 | 1.3% | 1.5% |
现金转化率ICLRVSCO
| Q4 25 | — | — | ||
| Q3 25 | 164.59× | 9.75× | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 1.74× | 3.49× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.04× | 3.59× | ||
| Q2 24 | 1.49× | — | ||
| Q1 24 | 1.74× | 3.27× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ICLR
| Other Customers | $681.3M | 33% |
| Clients1125 | $549.4M | 27% |
| Clients15 | $503.3M | 25% |
| Clients610 | $308.8M | 15% |
VSCO
| Sales Channel North America Stores | $778.0M | 53% |
| Sales Channel Directly To Consumer | $429.0M | 29% |
| Sales Channel International | $265.0M | 18% |
| Sales Channel Loyalty And Private Label Credit Card | $19.0M | 1% |
