ICLR vs RVTY: ICON and Revvity compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Revvity is the larger company, worth $17.3B, about 1.4 times ICON.
- Revvity grew revenue faster over the last year (+1.3% vs +1.2%).
- Revvity keeps more of each dollar of revenue as operating profit (12.3% vs 3.6%).
- On earnings, ICON is the cheaper stock (21.4x vs 74.5x).
- Revvity's price assumes faster free cash flow growth: about 12% a year, against 1% for ICON (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ICLR | RVTY |
|---|---|---|
| Market cap | $12.4B | $17.3B |
| Share price | $164.17 | $154.18 |
| Revenue (last fiscal year) | $8.3B | $2.9B |
| Free cash flow (last fiscal year) | $862M | $509M |
| Revenue growth, last year | +1.2% | +1.3% |
| Revenue growth per year, last 5 fiscal years | +10.8% | -13.4% |
| Operating margin | 3.6% | 12.3% |
| Net margin | 0.51% | 8.2% |
| Return on equity | 0.45% | 3.3% |
| P/E (trailing) | 21.4x | 74.5x |
| Price / free cash flow | 11.0x | 34.0x |
| EV / EBITDA | 10.7x | 25.6x |
| FCF growth the price implies | 0.62% | 11.9% |
| Dividend yield | — | 0.18% |
| Debt / equity | 0.75x | 0.67x |
| Fundamental grade | D | D |
| Superinvestors holding it | 10 | 4 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
ICON
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $5.5B | $735M | 6.9% |
| 2022 | $7.7B | $421M | 10.3% |
| 2023 | $8.1B | $1.0B | 11.2% |
| 2024 | $8.2B | $1.1B | 12.6% |
| 2025 | $8.3B | $862M | 5.4% |
Revvity
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $5.1B | $1.3B | 26.3% |
| 2022 | $3.3B | $594M | 22.4% |
| 2023 | $2.8B | $10M | 10.9% |
| 2024 | $2.8B | $542M | 12.6% |
| 2025 | $2.9B | $509M | 12.5% |
Where the revenue comes from
ICON · by regions, 2025
Ireland$3.2B39%
United States$2.5B31%
Rest of Europe$1.6B19%
Rest of World$952M12%
Revvity · by segments, 2025
Life Sciences$1.4B50%
Diagnostics$1.4B50%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ICLR in InvestinglyQuestions
Which is bigger, ICON or Revvity?
Revvity (RVTY), at $17.3B against $12.4B.
Is ICLR or RVTY cheaper?
By trailing P/E, ICON (21.4x) is cheaper than Revvity (74.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, ICLR or RVTY?
Revvity: revenue grew +1.3% over the last year, against +1.2%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.