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ICON PLC (ICLR) vs Labcorp Holdings Inc. (LH)

ICON PLC and Labcorp Holdings Inc. are both Diagnostics & Research companies. Labcorp Holdings Inc. is the larger, with a market value of $26.4B against $13.5B — 2.0× the size. Labcorp Holdings Inc. trades at the lower P/E: 26.2× against 254×. Labcorp Holdings Inc. grew revenue faster over the last twelve months: 6.41% against 3.26%. Labcorp Holdings Inc. has the higher net margin (6.99% vs 0.51%) and the higher return on invested capital (6.50% vs 1.57%). Across the 22 metrics below, Labcorp Holdings Inc. leads on 13 and ICON PLC on 9.

Valuation

Metric ICLR LH Diagnostics & Research median
P/E 254.23 26.18 35.56
P/S 1.58 1.81 4.37
P/B 1.39 3.02 3.06
Price to free cash flow 14.80 25.22 35.76
EV/EBITDA 23.30 14.51 24.35
EV/Sales 1.87 2.22 5.51
Earnings yield 0.39% 3.82% (1.89%)
Free cash flow yield 6.76% 3.97% (0.15%)

Profitability

Metric ICLR LH Diagnostics & Research median
Gross margin 23.91% 28.88% 50.89%
Operating margin 3.57% 10.43% (8.57%)
Net margin 0.51% 6.99% (6.37%)
Free cash flow margin 10.66% 8.16% 0.00%
Return on equity 0.45% 11.74% (2.92%)
Return on assets 0.26% 5.48% (6.71%)
Return on invested capital 1.57% 6.50% 0.00%

Growth

Metric ICLR LH Diagnostics & Research median
Revenue growth (TTM) 3.26% 6.41% 7.69%
EPS growth (last fiscal year) (69.57%) 18.33% 25.92%
Revenue growth, 5-year CAGR 24.15% (0.04%) 7.40%
Net income growth, 5-year CAGR (7.15%) (10.85%) 0.00%

Health

Metric ICLR LH Diagnostics & Research median
Debt to equity 0.36 0.69 0.11
Current ratio 0.95 1.80 2.02
Net debt to EBITDA 3.34 2.23 0.70

Dividend

Metric ICLR LH Diagnostics & Research median
Dividend yield — 0.90% 0.66%
Payout ratio — 0.24 0.20

Size

Metric ICLR LH Diagnostics & Research median
Market cap 13.51b 26.36b 2.16b

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