ICON Cash vs Net Debt Analysis

ICLR Stock

USD 212.15 4.61 2.13%

ICON PLC financial indicator trend analysis is infinitely more than just investigating ICON PLC recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether ICON PLC is a good investment. Please check the relationship between ICON PLC Cash and its Net Debt accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ICON PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

To learn how to invest in ICON Stock, please use our How to Invest in ICON PLC guide.

Cash vs Net Debt

Cash vs Net Debt Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of ICON PLC Cash account and Net Debt. At this time, the significance of the direction appears to have very week relationship.

The correlation between ICON PLC's Cash and Net Debt is 0.28. Overlapping area represents the amount of variation of Cash that can explain the historical movement of Net Debt in the same time period over historical financial statements of ICON PLC, assuming nothing else is changed. The correlation between historical values of ICON PLC's Cash and Net Debt is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Cash of ICON PLC are associated (or correlated) with its Net Debt. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Debt has no effect on the direction of Cash i.e., ICON PLC's Cash and Net Debt go up and down completely randomly.

Correlation Coefficient

0.28

Relationship Direction	Positive
Relationship Strength	Very Weak

View All Relationships

Cash

Cash refers to the most liquid asset of ICON PLC, which is listed under current asset account on ICON PLC balance sheet and usually includes currency, coins, checking accounts, and not deposited checks received from ICON PLC customers. The amounts must be unrestricted with restricted cash listed in a different ICON PLC account. The total amount of money in the form of currency that a company has in its possession. This includes all bills, coins, and funds in bank accounts.

Net Debt

The total debt of a company minus its cash and cash equivalents. It represents the actual debt burden on the company after accounting for the liquid assets it holds.

Most indicators from ICON PLC's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into ICON PLC current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ICON PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

To learn how to invest in ICON Stock, please use our How to Invest in ICON PLC guide.At this time, ICON PLC's Selling General Administrative is relatively stable compared to the past year. As of 11/27/2024, Sales General And Administrative To Revenue is likely to grow to 0.22, while Enterprise Value Over EBITDA is likely to drop 8.89.

	2021	2022	2023	2024 (projected)
Gross Profit	1.5B	2.2B	1.8B	1.9B
Total Revenue	5.5B	7.7B	8.1B	8.5B

Gross Profit Total Revenue

ICON PLC fundamental ratios Correlations

	Common Stock Shares Outstanding	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Cash And Short Term Investments	Net Receivables	Short Term Investments	Non Current Liabilities Total	Other Current Assets	Other Stockholder Equity	Total Liab	Total Current Assets	Short Term Debt	Common Stock	Other Liab	Long Term Debt	Good Will	Intangible Assets
Common Stock Shares Outstanding		0.49	0.53	0.52	0.48	0.48	0.57	0.48	0.48	0.39	0.25	0.48	0.24	0.51	-0.1	0.49	0.4	0.48	0.5	0.51	0.17	0.97	0.45	0.51	0.48	0.48
Total Assets	0.49		0.98	0.96	0.98	1.0	0.97	0.98	0.88	0.95	0.36	1.0	0.28	0.97	-0.73	0.98	0.32	1.0	1.0	0.95	-0.13	0.53	0.99	0.98	1.0	0.99
Short Long Term Debt Total	0.53	0.98		0.93	0.92	0.96	0.95	0.99	0.78	0.87	0.35	0.98	0.27	0.9	-0.67	1.0	0.33	0.98	0.99	0.88	-0.07	0.58	0.96	1.0	0.98	0.99
Other Current Liab	0.52	0.96	0.93		0.95	0.95	0.98	0.93	0.86	0.91	0.4	0.95	0.32	0.94	-0.71	0.94	0.36	0.95	0.96	0.93	-0.19	0.55	0.94	0.94	0.95	0.94
Total Current Liabilities	0.48	0.98	0.92	0.95		0.98	0.96	0.92	0.94	0.97	0.46	0.96	0.37	0.99	-0.77	0.93	0.29	0.97	0.96	0.98	-0.18	0.52	0.96	0.93	0.97	0.95
Total Stockholder Equity	0.48	1.0	0.96	0.95	0.98		0.97	0.96	0.91	0.96	0.33	0.99	0.25	0.98	-0.73	0.96	0.32	1.0	0.98	0.95	-0.13	0.51	0.99	0.96	1.0	0.98
Property Plant And Equipment Net	0.57	0.97	0.95	0.98	0.96	0.97		0.94	0.88	0.92	0.41	0.96	0.34	0.94	-0.69	0.95	0.38	0.96	0.97	0.94	-0.09	0.62	0.95	0.95	0.96	0.95
Net Debt	0.48	0.98	0.99	0.93	0.92	0.96	0.94		0.77	0.87	0.28	0.99	0.2	0.9	-0.69	1.0	0.3	0.98	0.99	0.87	-0.06	0.52	0.97	0.99	0.98	1.0
Retained Earnings	0.48	0.88	0.78	0.86	0.94	0.91	0.88	0.77		0.96	0.45	0.86	0.39	0.96	-0.7	0.79	0.29	0.87	0.85	0.97	-0.2	0.5	0.87	0.78	0.87	0.82
Accounts Payable	0.39	0.95	0.87	0.91	0.97	0.96	0.92	0.87	0.96		0.41	0.93	0.33	0.96	-0.78	0.88	0.31	0.94	0.92	0.96	-0.26	0.42	0.95	0.87	0.94	0.91
Cash	0.25	0.36	0.35	0.4	0.46	0.33	0.41	0.28	0.45	0.41		0.32	0.99	0.38	-0.53	0.35	0.19	0.3	0.38	0.53	-0.47	0.4	0.27	0.36	0.32	0.31
Non Current Assets Total	0.48	1.0	0.98	0.95	0.96	0.99	0.96	0.99	0.86	0.93	0.32		0.24	0.95	-0.72	0.99	0.32	1.0	1.0	0.93	-0.11	0.52	0.99	0.98	1.0	1.0
Cash And Short Term Investments	0.24	0.28	0.27	0.32	0.37	0.25	0.34	0.2	0.39	0.33	0.99	0.24		0.3	-0.41	0.26	0.13	0.21	0.3	0.46	-0.42	0.4	0.18	0.28	0.23	0.23
Net Receivables	0.51	0.97	0.9	0.94	0.99	0.98	0.94	0.9	0.96	0.96	0.38	0.95	0.3		-0.72	0.91	0.26	0.96	0.95	0.98	-0.15	0.52	0.95	0.9	0.96	0.92
Short Term Investments	-0.1	-0.73	-0.67	-0.71	-0.77	-0.73	-0.69	-0.69	-0.7	-0.78	-0.53	-0.72	-0.41	-0.72		-0.7	-0.43	-0.72	-0.73	-0.75	0.5	-0.15	-0.72	-0.69	-0.72	-0.71
Non Current Liabilities Total	0.49	0.98	1.0	0.94	0.93	0.96	0.95	1.0	0.79	0.88	0.35	0.99	0.26	0.91	-0.7		0.32	0.98	0.99	0.89	-0.11	0.55	0.97	1.0	0.98	1.0
Other Current Assets	0.4	0.32	0.33	0.36	0.29	0.32	0.38	0.3	0.29	0.31	0.19	0.32	0.13	0.26	-0.43	0.32		0.32	0.32	0.29	-0.22	0.41	0.31	0.33	0.31	0.32
Other Stockholder Equity	0.48	1.0	0.98	0.95	0.97	1.0	0.96	0.98	0.87	0.94	0.3	1.0	0.21	0.96	-0.72	0.98	0.32		0.99	0.93	-0.11	0.51	1.0	0.97	1.0	0.99
Total Liab	0.5	1.0	0.99	0.96	0.96	0.98	0.97	0.99	0.85	0.92	0.38	1.0	0.3	0.95	-0.73	0.99	0.32	0.99		0.93	-0.13	0.54	0.98	0.99	0.99	1.0
Total Current Assets	0.51	0.95	0.88	0.93	0.98	0.95	0.94	0.87	0.97	0.96	0.53	0.93	0.46	0.98	-0.75	0.89	0.29	0.93	0.93		-0.23	0.55	0.92	0.88	0.93	0.9
Short Term Debt	0.17	-0.13	-0.07	-0.19	-0.18	-0.13	-0.09	-0.06	-0.2	-0.26	-0.47	-0.11	-0.42	-0.15	0.5	-0.11	-0.22	-0.11	-0.13	-0.23		0.14	-0.11	-0.1	-0.11	-0.1
Common Stock	0.97	0.53	0.58	0.55	0.52	0.51	0.62	0.52	0.5	0.42	0.4	0.52	0.4	0.52	-0.15	0.55	0.41	0.51	0.54	0.55	0.14		0.48	0.56	0.51	0.52
Other Liab	0.45	0.99	0.96	0.94	0.96	0.99	0.95	0.97	0.87	0.95	0.27	0.99	0.18	0.95	-0.72	0.97	0.31	1.0	0.98	0.92	-0.11	0.48		0.96	1.0	0.99
Long Term Debt	0.51	0.98	1.0	0.94	0.93	0.96	0.95	0.99	0.78	0.87	0.36	0.98	0.28	0.9	-0.69	1.0	0.33	0.97	0.99	0.88	-0.1	0.56	0.96		0.98	0.99
Good Will	0.48	1.0	0.98	0.95	0.97	1.0	0.96	0.98	0.87	0.94	0.32	1.0	0.23	0.96	-0.72	0.98	0.31	1.0	0.99	0.93	-0.11	0.51	1.0	0.98		0.99
Intangible Assets	0.48	0.99	0.99	0.94	0.95	0.98	0.95	1.0	0.82	0.91	0.31	1.0	0.23	0.92	-0.71	1.0	0.32	0.99	1.0	0.9	-0.1	0.52	0.99	0.99	0.99

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ICON PLC Account Relationship Matchups

ICON PLC fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Common Stock Shares Outstanding	54.3M	53.3M	68.1M	82.5M	82.7M	47.6M
Total Assets	2.9B	3.5B	17.4B	17.2B	17.0B	17.8B
Short Long Term Debt Total	454.6M	433.6M	5.6B	4.8B	3.9B	4.1B
Other Current Liab	362.3M	360.9M	899.7M	961.4M	879.0M	922.9M
Total Current Liabilities	1.1B	1.1B	2.5B	2.7B	2.8B	3.0B
Total Stockholder Equity	1.6B	1.9B	8.1B	8.5B	9.2B	9.7B
Property Plant And Equipment Net	270.1M	192.9M	534.6M	504.2M	501.5M	526.6M
Net Debt	(65.8M)	(406.7M)	4.8B	4.5B	3.6B	3.7B
Retained Earnings	1.1B	1.4B	1.4B	1.8B	2.4B	2.6B
Accounts Payable	24.1M	51.1M	90.8M	81.2M	131.6M	138.2M
Cash	520.3M	840.3M	752.2M	288.8M	378.1M	216.9M
Non Current Assets Total	1.3B	1.4B	14.4B	14.0B	13.6B	14.3B
Cash And Short Term Investments	569.9M	842.0M	753.9M	290.5M	380.1M	261.1M
Net Receivables	1.0B	1.1B	2.1B	2.8B	2.9B	3.0B
Short Term Investments	49.6M	1.7M	1.7M	1.7M	2.0M	1.9M
Liabilities And Stockholders Equity	2.9B	3.5B	17.4B	17.2B	17.0B	17.8B
Non Current Liabilities Total	158.2M	446.6M	6.8B	6.0B	4.9B	5.2B
Other Current Assets	41.5M	117.0M	114.3M	137.1M	132.1M	79.8M
Other Stockholder Equity	579.0M	617.1M	6.7B	6.8B	6.9B	7.3B
Total Liab	1.3B	1.6B	9.3B	8.7B	7.7B	8.1B
Total Current Assets	1.6B	2.1B	2.9B	3.2B	3.4B	3.6B
Accumulated Other Comprehensive Income	(75.8M)	(13M)	(90.9M)	(171.5M)	(142.3M)	(135.2M)
Short Term Debt	378.0M	(498.3M)	105.1M	98.8M	146.6M	97.4M
Common Stock	4.6M	4.6M	6.6M	6.6M	6.7M	4.0M
Other Liab	42.1M	52.1M	1.3B	1.3B	1.5B	1.5B
Good Will	883.2M	936.3M	9.0B	9.0B	9.0B	9.5B
Intangible Assets	67.9M	66.5M	4.7B	4.3B	3.9B	4.0B
Property Plant Equipment	270.1M	258.9M	534.6M	504.2M	579.8M	608.8M
Current Deferred Revenue	367.0M	660.9M	1.3B	1.5B	1.7B	1.7B
Non Currrent Assets Other	34.7M	26.9M	89.2M	92.2M	78.5M	82.4M
Common Stock Total Equity	4.7M	4.7M	4.6M	4.6M	5.3M	3.8M
Inventory	2.3M	3.2M	4.8M	1.0	7.1M	0.95
Property Plant And Equipment Gross	270.1M	258.9M	534.6M	329.4M	921.4M	967.5M
Other Assets	51.4M	50.7M	137.6M	169.1M	194.5M	204.2M
Net Tangible Assets	667.0M	847.5M	(5.7B)	(4.8B)	(4.3B)	(4.1B)
Long Term Investments	10.1M	20.3M	25.0M	32.6M	46.8M	49.1M

Pair Trading with ICON PLC

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if ICON PLC position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ICON PLC will appreciate offsetting losses from the drop in the long position's value.

Moving together with ICON Stock

0.7	A	Agilent Technologies Sell-off Trend	Pair Corr
0.84	ME	23Andme Holding	Pair Corr
0.76	VALN	Valneva SE ADR	Pair Corr

Moving against ICON Stock

0.9	EXEL	Exelixis	Pair Corr
0.83	BMY	Bristol Myers Squibb Sell-off Trend	Pair Corr
0.67	EWTX	Edgewise Therapeutics	Pair Corr
0.5	KTTAW	Pasithea Therapeutics	Pair Corr
0.37	VRDN	Viridian Therapeutics Buyout Trend	Pair Corr

The ability to find closely correlated positions to ICON PLC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ICON PLC when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ICON PLC - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ICON PLC to buy it.

The correlation of ICON PLC is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ICON PLC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ICON PLC moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for ICON PLC can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

Additional Tools for ICON Stock Analysis

When running ICON PLC's price analysis, check to measure ICON PLC's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy ICON PLC is operating at the current time. Most of ICON PLC's value examination focuses on studying past and present price action to predict the probability of ICON PLC's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ICON PLC's price. Additionally, you may evaluate how the addition of ICON PLC to your portfolios can decrease your overall portfolio volatility.

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