Icon (FRA:IJF) Cyclically Adjusted PS Ratio: (As of Jul. 30, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:IJF Icon PLC FRA:IJF
88 GF Score
Price €156.40
GF Value €199.77
Valuation Modestly Undervalued
! 6 Warning Signs
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What is Icon Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Icon  (FRA:IJF) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Icon Cyclically Adjusted PS Ratio Related Terms


Icon Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Icon's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Icon Cyclically Adjusted PS Ratio Chart

Icon Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.74 3.82 4.69 3.07 2.36

Icon Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.00 2.34 2.36 1.38 0.00

FRA:IJF vs RVTY, CRL, MEDP: Cyclically Adjusted PS Ratio Comparison

For the Diagnostics & Research subindustry, Icon's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Icon Cyclically Adjusted PS Ratio vs Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, Icon's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Icon's Cyclically Adjusted PS Ratio falls into.


FRA:IJF
88GF Score
Icon PLC FRA:IJF
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Icon Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Icon's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Icon's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=23.15/128.3100*128.3100
=23.150

Current CPI (Jun. 2026) = 128.3100.

Icon Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 6.610 100.274 8.458
201612 7.340 99.676 9.449
201703 7.294 100.374 9.324
201706 7.035 100.673 8.966
201709 6.747 100.474 8.616
201712 7.008 100.075 8.985
201803 9.146 100.573 11.668
201806 10.013 101.072 12.711
201809 10.225 101.371 12.942
201812 10.952 100.773 13.945
201903 11.031 101.670 13.921
201906 11.299 102.168 14.190
201909 11.825 102.268 14.836
201912 12.051 102.068 15.149
202003 12.006 102.367 15.049
202006 10.386 101.769 13.095
202009 11.200 101.072 14.218
202012 11.728 101.072 14.889
202103 13.523 102.367 16.950
202106 13.545 103.364 16.814
202109 19.641 104.859 24.034
202112 20.104 106.653 24.186
202203 20.902 109.245 24.550
202206 22.241 112.779 25.304
202209 23.782 113.504 26.884
202212 22.463 115.436 24.968
202303 22.371 117.609 24.406
202306 22.567 119.662 24.198
202309 23.208 120.749 24.661
202312 22.199 120.749 23.589
202403 23.101 120.990 24.499
202406 23.628 122.318 24.785
202409 21.919 121.594 23.130
202412 22.633 122.439 23.718
202503 23.036 123.405 23.952
202506 22.224 124.492 22.906
202509 22.952 124.810 23.596
202512 23.337 125.770 23.808
202603 22.772 127.830 22.858
202606 23.150 128.310 23.150

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Icon (FRA:IJF) Overvalued in 2026?

Based on GuruFocus' analysis, Icon stock appears to be undervalued. The current stock price of €156.40 is trading 21.7% below its estimated GF Value™ of €199.77. GuruFocus considers Icon to be Modestly Undervalued.

Key valuation signals for FRA:IJF:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €199.77 vs. price of €156.40 (21.7% below fair value)
  • GF Score™: 88/100 with 6 warning signs

No single metric tells the full story. See the FRA:IJF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Icon Business Description

Address South County Business Park, Leopardstown, Dublin, IRL, D18 X5R3
Icon is a global contract research organization that provides outsourced clinical development services to pharmaceutical and biotechnology firms. Icon supports clients across late-stage clinical trials through the regulatory approval process and postmarket studies. Icon's services include clinical trial management, patient recruitment, data analytics, laboratory services, and regulatory consulting. With more than 40,000 employees operating in over 50 countries, the company partners with life sciences firms to run clinical trials and bring new drugs to market.
88GF Score

Get the complete analysis for FRA:IJF

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€156.40
Price
€199.77
GF Value