ICON Public Limited Company (ICLR) Balance Sheet
ICLR balance sheet, 2025
December 31, 2025 · U.S. dollars$16.27B assets = $7.08B liabilities + $9.19B equity
Both columns are drawn to the same scale: what ICLR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ICLR financial health
Descriptive bands, not a rating. Fiscal 2025.
ICLR balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.83B2016 | $16.27B2025 | +27.5%/yr | |
| Total liabilities | $880.7M2016 | $7.08B2025 | +26.1%/yr | |
| Shareholders’ equity | $945.2M2016 | $9.19B2025 | +28.8%/yr | |
| Cash & short-term investments | $260.6M2016 | $647.3M2025 | +10.6%/yr | |
| Total debt | $547.9M2016 | $3.56B2025 | +23.1%/yr | |
| Net cash (debt) | −$287.3M2016 | −$2.91B2025 | −$2.6B | |
| Working capital | $685.2M2016 | $305.5M2025 | −$379.7M | |
| Book value per share | $16.762016 | $116.422025 | +24.0%/yr | |
| Current ratio | 3.512016 | 1.102025 | −2.42 | |
| Debt / equity | 0.582016 | 0.392025 | −0.19 | |
| Shares outstanding | 56.4M2016 | 79.0M2025 | +3.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ICLR assets
ICLR liabilities and equity
ICLR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ICLR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $647.3M | $538.8M | $380.1M | $290.5M | $753.9M | $842.0M | $569.9M | $455.8M | $360.4M | $260.6M |
| Cash & equivalents | $647.3M | $538.8M | $378.1M | $288.8M | $752.2M | $840.3M | $520.3M | $395.9M | $282.9M | $192.5M |
| Short-term investments | $0 | $0 | $2.0M | $1.7M | $1.7M | $1.7M | $49.6M | $59.9M | $77.6M | $68.0M |
| Receivables | $2.75B | $2.85B | $2.90B | $2.80B | $2.07B | $1.21B | $1.01B | $856.0M | $721.0M | $662.2M |
| Inventory | $0 | $0 | $1 | $7.1M | $1 | $4.8M | $3.2M | $2.3M | $2.2M | $2.4M |
| Other current assets | $105.3M | $140.4M | $132.1M | $130.0M | $114.3M | $48.7M | $38.3M | $29.9M | $28.8M | $32.8M |
| Total current assets | $3.50B | $3.53B | $3.41B | $3.23B | $2.94B | $2.10B | $1.62B | $1.34B | $1.11B | $958.0M |
| Property, plant & equipment (net) | $524.7M | $530.5M | $501.5M | $504.2M | $534.6M | $258.9M | $270.1M | $103.7M | $105.1M | $149.0M |
| Goodwill & intangible assets | $11.98B | $12.61B | $12.88B | $13.25B | $13.75B | $1.00B | $951.1M | $879.3M | $912.6M | $672.7M |
| Long-term investments | $82.0M | $57.9M | $46.8M | $32.6M | $25.0M | $20.3M | $10.1M | $7.0M | $18.4M | $12.7M |
| Other non-current assets | $182.6M | $147.6M | $152.1M | $169.1M | $137.6M | $50.7M | $51.4M | $52.4M | $37.3M | $33.5M |
| Total assets | $16.27B | $16.88B | $16.99B | $17.19B | $17.39B | $3.44B | $2.91B | $2.39B | $2.19B | $1.83B |
| Liabilities | ||||||||||
| Accounts payable | $780.9M | $704.6M | $595.5M | $611.4M | $227.0M | $51.1M | $24.1M | $13.3M | $18.6M | $8.7M |
| Short-term debt | $566.0M | $66.5M | $146.6M | $98.8M | $105.1M | $24.3M | $378.0M | $335.2M | $256.9M | $199.4M |
| Deferred revenue | $1.55B | $1.61B | $1.65B | $1.51B | $1.32B | $660.9M | $367.0M | $274.5M | $299.0M | $272.8M |
| Total current liabilities | $3.20B | $2.80B | $2.83B | $2.69B | $2.48B | $1.12B | $1.13B | $628.2M | $580.9M | $272.8M |
| Long-term debt | $2.87B | $3.40B | $3.67B | $4.60B | $5.38B | $348.5M | $0 | $349.3M | $348.9M | $348.5M |
| Lease obligations | $153.4M | $176.9M | $162.7M | $131.6M | $159.5M | $85.1M | $104.9M | — | — | — |
| Other long-term liabilities | $1.01B | $1.16B | $1.26B | $1.40B | $1.46B | $113.0M | $158.2M | $22.5M | $25.8M | $259.4M |
| Total liabilities | $7.08B | $7.35B | $7.75B | $8.69B | $9.32B | $1.59B | $1.29B | $1000.0M | $955.6M | $880.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $6.3M | $6.6M | $6.7M | $6.6M | $6.6M | $4.6M | $4.6M | $4.7M | $4.7M | $4.6M |
| Retained earnings (deficit) | $2.12B | $2.72B | $2.43B | $1.82B | $1.42B | $1.26B | $1.11B | $979.8M | $794.3M | $587.8M |
| Accumulated other comprehensive income | −$68.5M | −$228.6M | −$142.3M | −$171.5M | −$90.9M | −$35.5M | −$75.8M | −$56.1M | −$24.3M | −$86.3M |
| Total shareholders' equity | $9.19B | $9.52B | $9.24B | $8.50B | $8.07B | $1.85B | $1.62B | $1.39B | $1.23B | $945.2M |
| Key figures | ||||||||||
| Total debt | $3.56B | $3.60B | $3.94B | $4.83B | $5.65B | $433.6M | $454.6M | $684.5M | $605.7M | $547.9M |
| Net cash (debt) | −$2.91B | −$3.06B | −$3.56B | −$4.54B | −$4.89B | $408.4M | $115.4M | −$228.7M | −$245.3M | −$287.3M |
| Working capital | $305.5M | $734.1M | $585.9M | $538.5M | $462.3M | $979.0M | $493.7M | $715.8M | $531.5M | $685.2M |
| Tangible book value | −$2.79B | −$3.09B | −$3.64B | −$4.75B | −$5.68B | $847.5M | $667.0M | $507.1M | $317.6M | $272.5M |
| Book value per share | $116.42 | $114.69 | $111.71 | $103.05 | $118.51 | $34.72 | $29.78 | $25.33 | $22.42 | $16.76 |
| Shares outstanding | 79.0M | 83.0M | 82.7M | 82.5M | 68.1M | 53.3M | 54.3M | 54.7M | 54.9M | 56.4M |
| Current ratio | 1.10 | 1.26 | 1.21 | 1.20 | 1.19 | 1.87 | 1.44 | 2.14 | 1.91 | 3.51 |
| Quick ratio | 1.06 | 1.21 | 1.16 | 1.15 | 1.14 | 1.82 | 1.40 | 2.09 | 1.86 | 3.38 |
| Debt / equity | 0.39 | 0.38 | 0.43 | 0.57 | 0.70 | 0.23 | 0.28 | 0.49 | 0.49 | 0.58 |
| Equity / assets | 56.5% | 56.4% | 54.4% | 49.4% | 46.4% | 53.9% | 55.7% | 58.1% | 56.3% | 51.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $928.4M | $765.2M | $647.3M | $468.9M | $390.4M | $526.7M | $538.8M | $695.5M | $506.6M | $398.0M | $380.1M | $315.0M |
| Cash & equivalents | $928.4M | $765.2M | $647.3M | $468.9M | $390.4M | $526.7M | $538.8M | $695.5M | $506.6M | $396.1M | $378.1M | $313.1M |
| Short-term investments | — | — | $0 | — | — | — | $0 | $88.4M | $0 | $2.0M | $2.0M | $2.0M |
| Receivables | $2.71B | $2.70B | $1.47B | $2.80B | $2.78B | $2.74B | $2.85B | $2.94B | $2.96B | $3.01B | $2.90B | $2.96B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $1 | −$2.9M | −$2.9M | $1 |
| Other current assets | $114.8M | $144.2M | $1.38B | $140.7M | $143.3M | $153.3M | $140.4M | $140.5M | $139.2M | $152.0M | $135.0M | $150.2M |
| Total current assets | $3.75B | $3.61B | $3.50B | $3.41B | $3.31B | $3.42B | $3.53B | $3.78B | $3.60B | $3.55B | $3.41B | $3.42B |
| Property, plant & equipment (net) | $500.3M | $508.4M | $524.7M | $525.2M | $518.3M | $525.6M | $530.5M | $522.7M | $503.6M | $512.9M | $501.5M | $474.6M |
| Goodwill & intangible assets | $11.87B | $11.92B | $11.98B | $12.31B | $12.54B | $12.57B | $12.61B | $12.69B | $12.65B | $12.77B | $12.88B | $12.92B |
| Long-term investments | $107.2M | $97.0M | $82.0M | $71.3M | $67.7M | $62.2M | $57.9M | $53.7M | $50.2M | $51.2M | $46.8M | $41.8M |
| Other non-current assets | $176.4M | $183.9M | $182.6M | $190.7M | $171.3M | $152.5M | $147.6M | $164.4M | $162.4M | $162.0M | $152.1M | $176.4M |
| Total assets | $16.40B | $16.32B | $16.27B | $16.51B | $16.60B | $16.72B | $16.88B | $17.21B | $16.97B | $17.05B | $16.99B | $17.03B |
| Liabilities | ||||||||||||
| Accounts payable | $118.2M | $99.8M | $780.9M | $113.3M | $94.5M | $118.2M | $704.6M | $106.2M | $83.0M | $113.6M | $595.5M | $87.3M |
| Short-term debt | $1.28B | $529.8M | — | $567.9M | $29.8M | $29.8M | $66.5M | $29.8M | $29.8M | $79.8M | $146.6M | $130.2M |
| Deferred revenue | $1.60B | $1.55B | — | $1.53B | $1.51B | $1.50B | $1.61B | $1.59B | $1.60B | $1.71B | $1.65B | $1.66B |
| Total current liabilities | $3.93B | $3.17B | $3.20B | $3.22B | $2.56B | $2.69B | $2.80B | $2.82B | $2.74B | $2.95B | $2.83B | $2.87B |
| Long-term debt | $2.11B | $2.87B | $2.87B | $2.88B | $3.38B | $3.39B | $3.40B | $3.40B | $3.41B | $3.42B | $3.67B | $3.91B |
| Lease obligations | $102.8M | $111.3M | $153.4M | $125.1M | $132.7M | $138.4M | $176.9M | $145.7M | $145.5M | $145.5M | $162.7M | $121.4M |
| Other long-term liabilities | $976.7M | $982.5M | $1.01B | $1.07B | $1.11B | $1.14B | $1.16B | $1.22B | $1.23B | $1.25B | $1.26B | $1.29B |
| Total liabilities | $7.02B | $7.02B | $7.08B | $7.17B | $7.05B | $7.22B | $7.35B | $7.44B | $7.38B | $7.62B | $7.75B | $8.07B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $6.3M | $6.3M | — | $6.3M | $6.4M | $6.5M | $6.6M | $6.7M | $6.7M | $6.7M | $6.7M | $6.7M |
| Retained earnings (deficit) | $2.30B | $2.23B | $2.12B | $2.31B | $2.56B | $2.63B | $2.72B | $2.87B | $2.77B | $2.62B | $2.43B | $2.22B |
| Accumulated other comprehensive income | −$108.2M | −$95.0M | — | −$85.3M | −$67.3M | −$173.2M | −$228.6M | −$108.9M | −$178.4M | −$165.3M | −$142.3M | −$190.2M |
| Total shareholders' equity | $9.38B | $9.30B | $9.19B | $9.33B | $9.56B | $9.50B | $9.52B | $9.77B | $9.59B | $9.43B | $9.24B | $8.96B |
| Key figures | ||||||||||||
| Total debt | $3.49B | $3.51B | $2.87B | $3.57B | $3.55B | $3.56B | $3.60B | $3.58B | $3.58B | $3.65B | $3.94B | $4.16B |
| Net cash (debt) | −$2.56B | −$2.74B | −$2.23B | −$3.10B | −$3.16B | −$3.03B | −$3.06B | −$2.88B | −$3.08B | −$3.25B | −$3.56B | −$3.85B |
| Working capital | −$186.0M | $437.8M | $305.5M | $189.4M | $752.4M | $726.7M | $734.1M | $960.1M | $861.4M | $609.0M | $585.9M | $550.2M |
| Tangible book value | −$2.49B | −$2.62B | −$2.79B | −$2.98B | −$2.98B | −$3.07B | −$3.09B | −$2.92B | −$3.06B | −$3.33B | −$3.64B | −$3.96B |
| Book value per share | $121.21 | $120.37 | $120.07 | $119.55 | $120.12 | $115.53 | $115.80 | $117.14 | $114.98 | $113.31 | $111.18 | $107.98 |
| Shares outstanding | 77.4M | 77.3M | 76.6M | 78.1M | 79.5M | 82.2M | 82.2M | 83.4M | 83.4M | 83.2M | 83.1M | 83.0M |
| Current ratio | 0.95 | 1.14 | 1.10 | 1.06 | 1.29 | 1.27 | 1.26 | 1.34 | 1.31 | 1.21 | 1.21 | 1.19 |
| Quick ratio | 0.92 | 1.09 | 0.66 | 1.02 | 1.24 | 1.21 | 1.21 | 1.29 | 1.26 | 1.16 | 1.16 | 1.14 |
| Debt / equity | 0.37 | 0.38 | 0.31 | 0.38 | 0.37 | 0.37 | 0.38 | 0.37 | 0.37 | 0.39 | 0.43 | 0.46 |
| Equity / assets | 57.2% | 57.0% | 56.5% | 56.5% | 57.6% | 56.8% | 56.4% | 56.8% | 56.5% | 55.3% | 54.4% | 52.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 27, 2026); data from EODHD.
ICLR financial position
At the end of fiscal 2025 (December 31, 2025), ICON Public had total assets of $16.3 billion (down 3.6% from a year earlier), total liabilities of $7.1 billion and shareholders' equity of $9.2 billion. It held $647.3 million in cash and short-term investments against $3.6 billion of debt, net debt of $2.9 billion. Its current ratio was 1.10. In the latest quarter (ended June 30, 2026) total assets were $16.4 billion and equity $9.4 billion.
Related: ICLR income statement, ICLR cash flow statement, ICLR key metrics. See the ICLR stock overview for the latest quote and news.
ICLR balance sheet FAQ
What are ICON Public's total assets?
ICON Public reported total assets of $16.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $16.9 billion a year earlier.
How much debt does ICON Public have?
ICON Public had $3.6 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.39.
How much cash does ICON Public have?
ICON Public held $647.3 million in cash and short-term investments at the end of fiscal 2025; with $3.6 billion of debt that is net debt of $2.9 billion.
What is ICON Public's book value?
ICON Public's shareholders' equity (book value) was $9.2 billion at the end of fiscal 2025, or $116.42 per share.
What is ICON Public's current ratio?
ICON Public had current assets of $3.5 billion and current liabilities of $3.2 billion, a current ratio of 1.10 (it can cover its short-term obligations).
How much goodwill does ICON Public have?
ICON Public carried $12.0 billion of goodwill and intangible assets, 73.6% of total assets, at the end of fiscal 2025.