Icon (STU:IJF) Cyclically Adjusted PS Ratio: (As of Sep. 21, 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.
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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.

STU:IJF Icon PLC STU:IJF
90 GF Score
Price €142.85
GF Value €180.42
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Icon Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Icon  (STU: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 7.81 4.12 4.76 3.27 2.21

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 1.85 2.04 2.20 1.33 2.05

STU:IJF vs CRL, RVTY, 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.


STU:IJF
90GF Score
Icon PLC STU: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)
=22.938/128.6700*128.6700
=22.938

Current CPI (Jun. 2026) = 128.6700.

Icon Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 6.647 100.274 8.529
201612 7.246 99.676 9.354
201703 7.319 100.374 9.382
201706 7.183 100.673 9.181
201709 6.852 100.474 8.775
201712 7.048 100.075 9.062
201803 9.176 100.573 11.739
201806 9.817 101.072 12.498
201809 10.258 101.371 13.021
201812 10.924 100.773 13.948
201903 10.977 101.670 13.892
201906 11.362 102.168 14.309
201909 11.713 102.268 14.737
201912 12.084 102.068 15.233
202003 12.042 102.367 15.136
202006 10.621 101.769 13.428
202009 11.293 101.072 14.377
202012 11.966 101.072 15.233
202103 13.365 102.367 16.799
202106 13.547 103.364 16.864
202109 19.601 104.859 24.052
202112 19.912 106.653 24.022
202203 20.520 109.245 24.169
202206 22.061 112.779 25.169
202209 23.376 113.504 26.499
202212 23.343 115.436 26.019
202303 22.324 117.609 24.424
202306 22.465 119.662 24.156
202309 22.767 120.749 24.261
202312 23.123 120.749 24.640
202403 22.614 120.990 24.049
202406 22.752 122.318 23.933
202409 22.275 121.594 23.571
202412 23.505 122.439 24.701
202503 23.662 123.405 24.672
202506 22.616 124.492 23.375
202509 23.052 124.810 23.765
202512 23.478 125.770 24.019
202603 22.502 127.830 22.650
202606 22.938 128.670 22.938

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 (STU:IJF) Overvalued in 2026?

Based on GuruFocus' analysis, Icon stock appears to be undervalued. The current stock price of €142.85 is trading 20.8% below its estimated GF Value™ of €180.42. GuruFocus considers Icon to be Modestly Undervalued.

Key valuation signals for STU:IJF:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €180.42 vs. price of €142.85 (20.8% below fair value)
  • GF Score™: 90/100 with 5 warning signs

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


Icon Business Description

Other Exchanges ICLR:USAICLR34:Brazil
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.
90GF Score

Get the complete analysis for STU:IJF

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

€142.85
Price
€180.42
GF Value