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Icon vs OmniAb: revenue, profit, margins and growth compared

Icon brought in $8.3B of revenue in fiscal 2025, OmniAb $18.7M in fiscal 2025. Revenue changed by +0.8% at Icon and -29.3% at OmniAb on the year before, so Icon grew faster. Icon kept 2.8% of its revenue as net profit, OmniAb -347.0%. Free cash flow was $862M at Icon and -$37M at OmniAb.

Side by side, latest fiscal year

ICLROABI
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$8.3B$18.7M
Revenue growth+0.8%-29.3%
Net income$229.3M-$64.8M
Net margin2.8%-347.0%
Free cash flow$862M-$37M
Free cash flow margin10.4%-198.3%
Earnings per share (diluted)$2.90-$0.57
Cash$647.3M$25.5M
Debt$2.9Bn/a
Price to earningsn/an/a
Market value$13.2B$670.2M
Dividend yieldn/an/a
Rank by revenue in sector#50 of 523 · Health care#413 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: $8.3BOABI FY2021: $34.7MOABI FY2022: $59.1MOABI FY2023: $34.2MOABI FY2024: $26.4MOABI FY2025: $18.7MFY18FY19FY20FY21FY22FY23FY24FY25
ICLR $8.3BOABI $18.7M
Net income
ICLR FY2018: $322.7MICLR FY2019: $374MICLR FY2020: $332.3MICLR FY2021: $153.2MICLR FY2022: $505.3MICLR FY2023: $554.2MICLR FY2024: $739.1MICLR FY2025: $229.3MOABI FY2021: -$27MOABI FY2022: -$22.3MOABI FY2023: -$50.6MOABI FY2024: -$62MOABI FY2025: -$64.8MFY18FY19FY20FY21FY22FY23FY24FY25
ICLR $229.3MOABI -$64.8M
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%OABI FY2021: -77.8%OABI FY2022: -37.8%OABI FY2023: -148.2%OABI FY2024: -235.1%OABI FY2025: -347.0%FY18FY19FY20FY21FY22FY23FY24FY25
ICLR 2.8%OABI -347.0%
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%OABI FY2022: +70.0%OABI FY2023: -42.2%OABI FY2024: -22.8%OABI FY2025: -29.3%FY19FY20FY21FY22FY23FY24FY25
ICLR +0.8%OABI -29.3%
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: $862MOABI FY2021: -$9.7MOABI FY2022: -$20.8MOABI FY2023: $703KOABI FY2024: -$41.5MOABI FY2025: -$37MFY18FY19FY20FY21FY22FY23FY24FY25
ICLR $862MOABI -$37M

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

Questions about Icon and OmniAb

Which is bigger by revenue, Icon or OmniAb?

Icon is bigger by revenue: $8.3B in fiscal 2025, against $18.7M for OmniAb in fiscal 2025.

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

Icon had a net margin of 2.8% in fiscal 2025; OmniAb had -347.0% in fiscal 2025.

Which grew revenue faster, Icon or OmniAb?

In their latest fiscal years revenue changed by +0.8% at Icon and -29.3% at OmniAb.

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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