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Icon vs Nrc Health: revenue, profit, margins and growth compared

Icon brought in $8.3B of revenue in fiscal 2025, Nrc Health $137.4M in fiscal 2025. Revenue changed by +0.8% at Icon and -4.0% at Nrc Health on the year before, so Icon grew faster. Icon kept 2.8% of its revenue as net profit, Nrc Health 8.2%. Free cash flow was $862M at Icon and $15.7M at Nrc Health.

Side by side, latest fiscal year

ICLRNRC
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$8.3B$137.4M
Revenue growth+0.8%-4.0%
Net income$229.3M$11.3M
Net margin2.8%8.2%
Free cash flow$862M$15.7M
Free cash flow margin10.4%11.5%
Earnings per share (diluted)$2.90$50.00
Cash$647.3M$4.1M
Debt$2.9B$79M
Price to earningsn/a0.4
Market value$13.2B$432.9M
Dividend yieldn/a2.66%
Rank by revenue in sector#50 of 523 · Health care#278 of 523 · Health care

Over the years

Revenue
ICLR FY2018: $2.6BICLR FY2019: $2.8BICLR FY2020: $2.8BICLR FY2021: $5.5BICLR FY2022: $7.7BICLR FY2023: $8.1BICLR FY2024: $8.2BICLR FY2025: $8.3BNRC FY2018: $119.7MNRC FY2019: $128MNRC FY2020: $133.3MNRC FY2021: $148MNRC FY2022: $151.6MNRC FY2023: $148.6MNRC FY2024: $143.1MNRC FY2025: $137.4MFY18FY19FY20FY21FY22FY23FY24FY25
ICLR $8.3BNRC $137.4M
Net income
ICLR FY2018: $322.7MICLR FY2019: $374MICLR FY2020: $332.3MICLR FY2021: $153.2MICLR FY2022: $505.3MICLR FY2023: $554.2MICLR FY2024: $739.1MICLR FY2025: $229.3MNRC FY2018: $30MNRC FY2019: $32.4MNRC FY2020: $37.2MNRC FY2021: $37.4MNRC FY2022: $31.8MNRC FY2023: $31MNRC FY2024: $24.8MNRC FY2025: $11.3MFY18FY19FY20FY21FY22FY23FY24FY25
ICLR $229.3MNRC $11.3M
Net margin
ICLR FY2018: 12.4%ICLR FY2019: 13.3%ICLR FY2020: 11.9%ICLR FY2021: 2.8%ICLR FY2022: 6.5%ICLR FY2023: 6.9%ICLR FY2024: 9.0%ICLR FY2025: 2.8%NRC FY2018: 25.1%NRC FY2019: 25.3%NRC FY2020: 27.9%NRC FY2021: 25.3%NRC FY2022: 21.0%NRC FY2023: 20.8%NRC FY2024: 17.3%NRC FY2025: 8.2%FY18FY19FY20FY21FY22FY23FY24FY25
ICLR 2.8%NRC 8.2%
Revenue growth
ICLR FY2019: +8.1%ICLR FY2020: -0.3%ICLR FY2021: +95.9%ICLR FY2022: +41.2%ICLR FY2023: +4.1%ICLR FY2024: +1.7%ICLR FY2025: +0.8%NRC FY2019: +6.9%NRC FY2020: +4.1%NRC FY2021: +11.0%NRC FY2022: +2.4%NRC FY2023: -2.0%NRC FY2024: -3.7%NRC FY2025: -4.0%FY19FY20FY21FY22FY23FY24FY25
ICLR +0.8%NRC -4.0%
Free cash flow
ICLR FY2018: $220.2MICLR FY2019: $373.6MICLR FY2020: $527.2MICLR FY2021: $735.4MICLR FY2022: $421.2MICLR FY2023: $1BICLR FY2024: $1.1BICLR FY2025: $862MNRC FY2018: $33.9MNRC FY2019: $36.3MNRC FY2020: $36.7MNRC FY2021: $40.8MNRC FY2022: $26.4MNRC FY2023: $22.3MNRC FY2024: $19.2MNRC FY2025: $15.7MFY18FY19FY20FY21FY22FY23FY24FY25
ICLR $862MNRC $15.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Icon and Nrc Health

Which is bigger by revenue, Icon or Nrc Health?

Icon is bigger by revenue: $8.3B in fiscal 2025, against $137.4M for Nrc Health in fiscal 2025.

Which keeps more of its revenue as profit, Icon or Nrc Health?

Icon had a net margin of 2.8% in fiscal 2025; Nrc Health had 8.2% in fiscal 2025.

Which grew revenue faster, Icon or Nrc Health?

In their latest fiscal years revenue changed by +0.8% at Icon and -4.0% at Nrc Health.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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