Overall ICLR gets a fundamental rating of 5 out of 10. We evaluated ICLR against 58 industry peers in the Life Sciences Tools & Services industry. Both the profitability and the financial health of ICLR get a neutral evaluation. Nothing too spectacular is happening here. ICLR has a decent growth rate and is not valued too expensively.

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

In the past year ICLR was profitable.
In the past year ICLR had a positive cash flow from operations.
Each year in the past 5 years ICLR has been profitable.
Each year in the past 5 years ICLR had a positive operating cash flow.

1.2 Ratios

With a decent Return On Assets value of 3.63%, ICLR is doing good in the industry, outperforming 75.86% of the companies in the same industry.
With a decent Return On Equity value of 6.42%, ICLR is doing good in the industry, outperforming 75.86% of the companies in the same industry.
With a decent Return On Invested Capital value of 6.74%, ICLR is doing good in the industry, outperforming 75.86% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for ICLR is significantly below the industry average of 13.29%.
The last Return On Invested Capital (6.74%) for ICLR is above the 3 year average (5.80%), which is a sign of increasing profitability.

		Industry Rank	Sector Rank
ROA	3.63%
ROE	6.42%
ROIC	6.74%

ROA(3y)3.74%

ROA(5y)4.36%

ROE(3y)6.96%

ROE(5y)8.15%

ROIC(3y)5.8%

ROIC(5y)6.92%

1.3 Margins

Looking at the Profit Margin, with a value of 7.40%, ICLR is in the better half of the industry, outperforming 75.86% of the companies in the same industry.
In the last couple of years the Profit Margin of ICLR has declined.
ICLR has a better Operating Margin (13.99%) than 74.14% of its industry peers.
In the last couple of years the Operating Margin of ICLR has remained more or less at the same level.
ICLR has a Gross Margin of 28.15%. This is in the lower half of the industry: ICLR underperforms 77.59% of its industry peers.
In the last couple of years the Gross Margin of ICLR has remained more or less at the same level.

		Industry Rank	Sector Rank
OM	13.99%
PM (TTM)	7.4%
GM	28.15%

OM growth 3Y9.91%

OM growth 5Y-0.95%

PM growth 3Y50.65%

PM growth 5Y-6.44%

GM growth 3Y2.3%

GM growth 5Y-0.09%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

ICLR has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, ICLR has less shares outstanding
Compared to 5 years ago, ICLR has more shares outstanding
The debt/assets ratio for ICLR has been reduced compared to a year ago.

2.2 Solvency

ICLR has an Altman-Z score of 2.12. This is not the best score and indicates that ICLR is in the grey zone with still only limited risk for bankruptcy at the moment.
ICLR has a Altman-Z score of 2.12. This is comparable to the rest of the industry: ICLR outperforms 50.00% of its industry peers.
ICLR has a debt to FCF ratio of 3.53. This is a good value and a sign of high solvency as ICLR would need 3.53 years to pay back of all of its debts.
The Debt to FCF ratio of ICLR (3.53) is better than 79.31% of its industry peers.
A Debt/Equity ratio of 0.31 indicates that ICLR is not too dependend on debt financing.
ICLR has a Debt to Equity ratio (0.31) which is comparable to the rest of the industry.

		Industry Rank	Sector Rank
Debt/Equity	0.31
Debt/FCF	3.53
Altman-Z	2.12

ROIC/WACC0.73

WACC9.25%

2.3 Liquidity

ICLR has a Current Ratio of 1.06. This is a normal value and indicates that ICLR is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.06, ICLR is doing worse than 84.48% of the companies in the same industry.
A Quick Ratio of 1.06 indicates that ICLR should not have too much problems paying its short term obligations.
ICLR has a Quick ratio of 1.06. This is in the lower half of the industry: ICLR underperforms 77.59% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	1.06
Quick Ratio	1.06

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

ICLR shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -5.99%.
Measured over the past years, ICLR shows a quite strong growth in Earnings Per Share. The EPS has been growing by 15.23% on average per year.
The Revenue has decreased by -2.46% in the past year.
ICLR shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 24.17% yearly.

EPS 1Y (TTM)-5.99%

EPS 3Y13.76%

EPS 5Y15.23%

EPS Q2Q%-1.19%

Revenue 1Y (TTM)-2.46%

Revenue growth 3Y14.75%

Revenue growth 5Y24.17%

Sales Q2Q%0.63%

3.2 Future

Based on estimates for the next years, ICLR will show a small growth in Earnings Per Share. The EPS will grow by 5.27% on average per year.
ICLR is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.38% yearly.

EPS Next Y-4.72%

EPS Next 2Y-1.9%

EPS Next 3Y1.92%

EPS Next 5Y5.27%

Revenue Next Year-2.43%

Revenue Next 2Y-1.08%

Revenue Next 3Y0.75%

Revenue Next 5Y2.38%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

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4. Valuation

4.1 Price/Earnings Ratio

ICLR is valuated correctly with a Price/Earnings ratio of 14.21.
Compared to the rest of the industry, the Price/Earnings ratio of ICLR indicates a rather cheap valuation: ICLR is cheaper than 96.55% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of ICLR to the average of the S&P500 Index (27.25), we can say ICLR is valued slightly cheaper.
Based on the Price/Forward Earnings ratio of 13.91, the valuation of ICLR can be described as correct.
Compared to the rest of the industry, the Price/Forward Earnings ratio of ICLR indicates a rather cheap valuation: ICLR is cheaper than 96.55% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 25.98, ICLR is valued a bit cheaper.

		Industry Rank	Sector Rank
PE	14.21
Fwd PE	13.91

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, ICLR is valued cheaply inside the industry as 98.28% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of ICLR indicates a rather cheap valuation: ICLR is cheaper than 96.55% of the companies listed in the same industry.