Investment Thesis
Icon PLC 5-year share price performance. Source: TradingView.
Icon (ICLR) looks like a solid investment opportunity in the contract research organization ("CRO") space, offering strong growth potential whilst being a little undervalued by the market, based on my analysis.
Since 2010 Icon has grown its revenues from $0.9bn, to $2.96bn in FY19 at a CAGR of 13.5%, and net income from $87.1m, to $375.1m at a CAGR of 18%, achieving net profit margins of 16%, 12.4% and 13.4% respectively between 2017-2019. In FY19 the company posted EPS of $6.75, for a