Icon (ICLR) Cost of Revenue (2009 - 2026)
Icon's Cost of Revenue came in at $1.53 billion for the quarter ended Sep 30, 2026, down 0.4% from $1.54 billion a year earlier and down 3.2% from the prior quarter.
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Analysis
Icon (ICLR) Cost of Revenue (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Icon reported Cost of Revenue of $6.3 billion, up 7.6% year-over-year; for the year ended Dec 31, 2025, it came in at $6.08 billion, up 4.4% from the prior year.
- Cost of Revenue has increased in each of the last 16 years, with a five-year compound annual growth rate of 25.1% (years ended Dec 2020 to Dec 2025).
- Going back by year, Cost of Revenue was $5.82 billion in the year ended Dec 31, 2024 (+2.0%), $5.71 billion in the year ended Dec 31, 2023 (+3.2%), $5.53 billion in the year ended Dec 31, 2022 (+39.1%) and $3.97 billion in the year ended Dec 31, 2021 (+100.6%).
- The figure for the quarter ended Sep 30, 2026 represents the lowest quarterly Cost of Revenue since the quarter ended Jun 30, 2025.
- Year-over-year, Cost of Revenue increased in four of the last eight quarters, with growth averaging 4.1%.
- The fastest year-over-year change in Cost of Revenue over five years came in the quarter ended Dec 31, 2021 (growth of 153.5%), and the weakest in the quarter ended Jun 30, 2025 (a decline of 2.5%).
- Business Quant data shows ICLR's Cost of Revenue at $1.58 billion (quarter ended Jun 30, 2026), $1.56 billion (quarter ended Mar 31, 2026) and $1.63 billion (quarter ended Dec 31, 2025) in the three quarters before the quarter ended Sep 30, 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Iqvia Holdings | 44.71 Bn | 35.96 Bn | 1.50 Bn | 2.93 Bn |
| 2 | Medpace Holdings | 18.26 Bn | 15.91 Bn | 223.89 Mn | 492.12 Mn |
| 3 | Charles River Laboratories International | 16.16 Bn | 15.36 Bn | 357.87 Mn | 624.86 Mn |
| 4 | Icon | 16.06 Bn | 12.83 Bn | 491.83 Mn | 1.53 Bn |
| 5 | Fortrea Holdings | 2.10 Bn | 1.39 Bn | 139.50 Mn | 552.00 Mn |
| 6 | Ginkgo Bioworks Holdings | 699.49 Mn | -62.59 Mn | 18.44 Mn | 1.72 Mn |
| 7 | Evotec SE | 601.99 Mn | -1.16 Bn | - | - |
| 8 | Champions Oncology | 66.71 Mn | 41.80 Mn | 7.70 Mn | 7.53 Mn |
| 9 | MindWalk Holdings | 48.93 Mn | 12.59 Mn | 1.61 Mn | 1.14 Mn |
| 10 | Natural Alternatives International | 6.57 Mn | -21.51 Mn | 1.73 Mn | 32.78 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 1.53 Bn |
| Jun 30, 2026 | 1.58 Bn |
| Mar 31, 2026 | 1.56 Bn |
| Dec 31, 2025 | 1.63 Bn |
| Sep 30, 2025 | 1.54 Bn |
| Jun 30, 2025 | 1.46 Bn |
| Mar 31, 2025 | 1.45 Bn |
| Dec 31, 2024 | 1.41 Bn |
| Sep 30, 2024 | 1.44 Bn |
| Jun 30, 2024 | 1.49 Bn |
| Mar 31, 2024 | 1.47 Bn |
| Dec 31, 2023 | 1.43 Bn |
| Sep 30, 2023 | 1.45 Bn |
| Jun 30, 2023 | 1.43 Bn |
| Mar 31, 2023 | 1.40 Bn |
| Dec 31, 2022 | 1.38 Bn |
| Sep 30, 2022 | 1.38 Bn |
| Jun 30, 2022 | 1.39 Bn |
| Mar 31, 2022 | 1.38 Bn |
| Dec 31, 2021 | 1.36 Bn |
API Access
Icon Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=ICLR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "ICLR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=ICLR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();