IQV · Iqvia Holdings Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $16.31B | $15.40B | $14.98B | $14.41B | $13.87B | $11.36B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $2.00B | $1.99B | $2.05B | $2.07B | $1.96B | $1.79B |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $1.14B | $1.11B | $1.13B | $1.13B | $1.26B | $1.29B |
| Operating Income | $2.18B | $2.20B | $1.98B | $1.80B | $1.39B | $731.00M |
| Interest Expense | $729.00M | $670.00M | $672.00M | $416.00M | $375.00M | $416.00M |
| Income Tax | $252.00M | $301.00M | $101.00M | $260.00M | $163.00M | $72.00M |
| Net Income | $1.36B | $1.37B | $1.36B | $1.09B | $966.00M | $279.00M |
| EPS - Basic | $7.91 | $7.57 | $7.39 | $5.82 | $5.05 | $1.46 |
| EPS - Diluted | $7.84 | $7.49 | $7.29 | $5.72 | $4.95 | $1.43 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.98B | $1.70B | $1.38B | $1.22B | $1.37B | $1.81B |
| Accounts Receivable | $3.40B | $3.20B | $3.38B | $2.92B | $2.55B | $2.41B |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | $6.25B | $5.83B | $5.60B | $4.98B | $4.76B | $5.09B |
| Total Assets | $29.94B | $26.90B | $26.68B | $25.34B | $24.69B | $24.56B |
| Current Liabilities | $8.34B | $6.96B | $6.49B | $5.58B | $5.24B | $4.56B |
| Long-term Debt | $13.88B | $12.84B | $12.96B | $12.60B | $12.03B | $12.38B |
| Total Liabilities | $23.31B | $20.83B | $20.57B | $19.57B | $18.65B | $18.28B |
| Stockholders' Equity | $6.50B | $6.07B | $6.11B | $5.76B | $6.04B | $6.00B |
| Retained Earnings | $7.42B | $6.07B | $4.69B | $3.33B | $2.24B | $1.28B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.65B | $2.72B | $2.15B | $2.26B | $2.94B | $1.96B |
| Investing Cash Flow | ($2.31B) | ($1.44B) | ($1.60B) | ($2.01B) | ($2.10B) | ($796.00M) |
| Financing Cash Flow | ($150.00M) | ($878.00M) | ($382.00M) | ($329.00M) | ($1.24B) | ($217.00M) |
| CapEx | $603.00M | $602.00M | $649.00M | $674.00M | $640.00M | $616.00M |
| Free Cash Flow | $2.05B | $2.11B | $1.50B | $1.59B | $2.30B | $1.34B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 13.4% | 14.3% | 13.2% | 12.5% | 10.0% | 6.4% |
| EBITDA margin | 20.4% | 21.5% | 20.7% | 20.3% | 19.2% | 17.8% |
| Net margin | 8.3% | 8.9% | 9.1% | 7.6% | 7.0% | 2.5% |
| Free cash flow margin | 12.6% | 13.7% | 10.0% | 11.0% | 16.6% | 11.8% |
| FCF / Net income | 1.51 | 1.54 | 1.10 | 1.45 | 2.38 | 4.81 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 12.3% | 12.9% | 13.7% | 14.4% | 14.2% | 15.7% |
| Effective tax rate | 15.6% | 18.0% | 6.9% | 19.2% | 14.4% | 20.5% |
| Return on assets | 4.5% | 5.1% | 5.1% | 4.3% | 3.9% | 1.1% |
| Return on equity | 20.9% | 22.6% | 22.2% | 18.9% | 16.0% | 4.6% |
| Return on invested capital | 9.0% | 9.6% | 9.7% | 7.9% | 6.6% | 3.2% |
| Liquidity | ||||||
| Current ratio | 0.75 | 0.84 | 0.86 | 0.89 | 0.91 | 1.12 |
| Quick ratio | 0.75 | 0.84 | 0.86 | 0.89 | 0.91 | 1.12 |
| Cash ratio | 0.24 | 0.24 | 0.21 | 0.22 | 0.26 | 0.40 |
| Leverage | ||||||
| Debt / Equity | 2.14 | 2.12 | 2.12 | 2.18 | 1.99 | 2.06 |
| Debt / Assets | 0.46 | 0.48 | 0.49 | 0.50 | 0.49 | 0.50 |
| Debt / EBITDA | 4.17 | 3.87 | 4.18 | 4.30 | 4.53 | 6.14 |
| Interest coverage | 3.0x | 3.3x | 2.9x | 4.3x | 3.7x | 1.8x |
| Equity multiplier | 4.60 | 4.43 | 4.37 | 4.39 | 4.09 | 4.09 |
| Liabilities / Assets | 0.78 | 0.77 | 0.77 | 0.77 | 0.76 | 0.74 |
| Efficiency | ||||||
| Asset turnover | 0.54 | 0.57 | 0.56 | 0.57 | 0.56 | 0.46 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 76d | 76d | 82d | 74d | 67d | 77d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 28.8x | 26.2x | 31.7x | 35.8x | 57.0x | 125.3x |
| P / B | 6.0x | 5.9x | 7.1x | 6.8x | 9.1x | 5.8x |
| P / S | 2.4x | 2.3x | 2.9x | 2.7x | 4.0x | 3.1x |
| EV / EBITDA | 15.3x | 14.2x | 17.6x | 17.2x | 24.7x | 22.6x |
| Growth | ||||||
| Revenue growth (YoY) | 5.9% | 2.8% | 4.0% | 3.9% | 22.1% | 2.4% |
| Revenue CAGR (3y) | 4.2% | 3.6% | 9.7% | 9.1% | 26.7% | 5.3% |
| Revenue CAGR (5y) | 7.5% | 6.8% | 17.1% | 8.2% | 15.1% | 14.6% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | -0.9% | 11.4% | 9.9% | 29.1% | 90.6% | -5.9% |
| Net income growth (YoY) | -0.9% | 1.1% | 24.5% | 12.9% | 246.2% | 46.1% |
| EPS growth (YoY) | 4.7% | 2.7% | 27.4% | 15.6% | 246.2% | 49.0% |
| EPS CAGR (3y) | 11.1% | 14.8% | 72.1% | 81.3% | 58.6% | -37.6% |
| EPS CAGR (5y) | 40.5% | 50.8% | 42.5% | -0.6% | 45.5% | -14.2% |
| FCF growth (YoY) | -3.0% | 40.9% | -5.4% | -31.1% | 71.4% | 60.8% |
| FCF CAGR (5y) | 8.8% | 20.4% | 30.2% | 21.4% | 27.0% | 27.6% |
| Book value growth (YoY) | 7.2% | -0.7% | 6.0% | -4.6% | 0.7% | -0.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$16.31B totalResearch And Development Solutions$8.90B · 54.5%
Technology And Analytics Solutions$6.63B · 40.6%
Contract Sales And Medical Solutions$788.00M · 4.8%
Geographic
$6.63B totalAmericas$3.36B · 50.8%
EMEA$2.65B · 39.9%
Asia Pacific$617.00M · 9.3%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.05
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Services-Commercial Physical & Biological Research
Comparing IQVIA HOLDINGS INC. against the 5 most active filers in the same SIC group.