Iqvia Hldgs Inc Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Iqvia Hldgs Inc has an operating margin of 14.3%, meaning the company retains $14 of operating profit per $100 of revenue. This strong profitability earns a score of 71/100, reflecting efficient cost management and pricing power. This is up from 13.2% the prior year.
Iqvia Hldgs Inc's revenue grew a modest 2.8% year-over-year to $15.4B. This slow but positive growth earns a score of 37/100.
Iqvia Hldgs Inc has a moderate D/E ratio of 2.12. This balance of debt and equity financing earns a leverage score of 33/100.
Iqvia Hldgs Inc's current ratio of 0.84 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 14/100, which could limit financial flexibility.
Iqvia Hldgs Inc converts 13.7% of revenue into free cash flow ($2.1B). This strong cash generation earns a score of 69/100.
Iqvia Hldgs Inc earns a strong 22.6% return on equity (ROE), meaning it generates $23 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 91/100. This is up from 22.2% the prior year.
Iqvia Hldgs Inc scores 1.92, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Iqvia Hldgs Inc passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Iqvia Hldgs Inc generates $1.98 in operating cash flow ($2.7B OCF vs $1.4B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Iqvia Hldgs Inc earns $3.3 in operating income for every $1 of interest expense ($2.2B vs $670.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
This page shows Iqvia Hldgs Inc (IQV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Iqvia Hldgs Inc generated $15.4B in revenue in fiscal year 2024. This represents an increase of 2.8% from the prior year.
Iqvia Hldgs Inc's EBITDA was $3.3B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.9% from the prior year.
Iqvia Hldgs Inc generated $2.1B in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 40.9% from the prior year.
Iqvia Hldgs Inc reported $1.4B in net income in fiscal year 2024. This represents an increase of 1.1% from the prior year.
Iqvia Hldgs Inc earned $7.49 per diluted share (EPS) in fiscal year 2024. This represents an increase of 2.7% from the prior year.
Iqvia Hldgs Inc held $1.7B in cash against $12.8B in long-term debt as of fiscal year 2024.
Iqvia Hldgs Inc had 176M shares outstanding in fiscal year 2024. This represents a decrease of 3.0% from the prior year.
Iqvia Hldgs Inc's gross margin was 34.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the prior year.
Iqvia Hldgs Inc's operating margin was 14.3% in fiscal year 2024, reflecting core business profitability. This is up 1.1 percentage points from the prior year.
Iqvia Hldgs Inc's net profit margin was 8.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.2 percentage points from the prior year.
Iqvia Hldgs Inc's ROE was 22.6% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 0.4 percentage points from the prior year.
Iqvia Hldgs Inc spent $1.4B on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 36.1% from the prior year.
Iqvia Hldgs Inc invested $602.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 7.2% from the prior year.
IQV Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.1B+2.1% | $4.0B+4.9% | $3.8B-3.3% | $4.0B+3.8% | $3.8B+2.1% | $3.7B-3.4% | $3.9B+3.5% | $3.7B |
| Cost of Revenue | $2.7B+1.2% | $2.7B+6.4% | $2.5B-1.9% | $2.6B+3.7% | $2.5B+1.8% | $2.4B-1.4% | $2.5B+2.1% | $2.4B |
| Gross Profit | $1.4B+3.8% | $1.3B+1.9% | $1.3B-53.1% | $2.8B+221.0% | $863.0M+4.4% | $827.0M-69.7% | $2.7B+216.1% | $862.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $514.0M+1.0% | $509.0M+0.2% | $508.0M+12.1% | $453.0M-11.0% | $509.0M+0.2% | $508.0M-8.6% | $556.0M+10.8% | $502.0M |
| Operating Income | $553.0M+9.3% | $506.0M+2.0% | $496.0M-20.8% | $626.0M+20.4% | $520.0M+2.8% | $506.0M+1.0% | $501.0M+4.2% | $481.0M |
| Interest Expense | $189.0M+3.8% | $182.0M+10.3% | $165.0M-3.5% | $171.0M+4.9% | $163.0M-1.8% | $166.0M-8.3% | $181.0M0.0% | $181.0M |
| Income Tax | $76.0M+35.7% | $56.0M-8.2% | $61.0M-45.5% | $112.0M+49.3% | $75.0M+53.1% | $49.0M+148.0% | -$102.0M-300.0% | $51.0M |
| Net Income | $331.0M+24.4% | $266.0M+6.8% | $249.0M-43.0% | $437.0M+20.4% | $363.0M+26.0% | $288.0M-38.6% | $469.0M+54.8% | $303.0M |
| EPS (Diluted) | $1.93+25.3% | $1.54+10.0% | $1.40-41.9% | $2.41+22.3% | $1.97+26.3% | $1.56-38.6% | $2.54+55.8% | $1.63 |
IQV Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $28.7B+0.3% | $28.6B+4.8% | $27.3B+1.6% | $26.9B+1.9% | $26.4B-0.7% | $26.6B-0.4% | $26.7B+2.7% | $26.0B |
| Current Assets | $6.0B-5.8% | $6.3B+7.3% | $5.9B+1.4% | $5.8B+3.7% | $5.6B-0.5% | $5.7B+1.0% | $5.6B+7.5% | $5.2B |
| Cash & Equivalents | $1.8B-11.0% | $2.0B+17.2% | $1.7B+2.2% | $1.7B+10.2% | $1.5B+7.0% | $1.4B+4.9% | $1.4B+12.4% | $1.2B |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $15.9B+2.2% | $15.6B+3.9% | $15.0B+2.2% | $14.7B+1.6% | $14.5B-0.3% | $14.5B-0.4% | $14.6B+2.0% | $14.3B |
| Total Liabilities | $22.4B-1.8% | $22.8B+7.1% | $21.3B+2.4% | $20.8B+5.8% | $19.7B-2.7% | $20.2B-1.6% | $20.6B+2.0% | $20.2B |
| Current Liabilities | $8.5B+12.4% | $7.6B+5.5% | $7.2B+3.2% | $7.0B+5.1% | $6.6B+2.7% | $6.4B-0.7% | $6.5B-1.5% | $6.6B |
| Long-Term Debt | $12.8B-9.8% | $14.2B+8.2% | $13.1B+2.1% | $12.8B+6.2% | $12.1B-5.7% | $12.8B-1.0% | $13.0B+5.1% | $12.3B |
| Total Equity | $6.2B+6.6% | $5.8B-3.3% | $6.0B-1.5% | $6.1B-9.6% | $6.7B+5.8% | $6.3B+3.8% | $6.1B+5.3% | $5.8B |
| Retained Earnings | $6.9B+5.0% | $6.6B+4.2% | $6.3B+4.1% | $6.1B+13.5% | $5.3B+7.3% | $5.0B+6.1% | $4.7B+11.1% | $4.2B |
IQV Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $908.0M+105.0% | $443.0M-22.0% | $568.0M-35.8% | $885.0M+50.5% | $588.0M+12.6% | $522.0M-30.1% | $747.0M+28.1% | $583.0M |
| Capital Expenditures | $136.0M-9.9% | $151.0M+6.3% | $142.0M-13.4% | $164.0M+14.7% | $143.0M-1.4% | $145.0M-19.0% | $179.0M+22.6% | $146.0M |
| Free Cash Flow | $772.0M+164.4% | $292.0M-31.5% | $426.0M-40.9% | $721.0M+62.0% | $445.0M+18.0% | $377.0M-33.6% | $568.0M+30.0% | $437.0M |
| Investing Cash Flow | -$550.0M-59.0% | -$346.0M-13.4% | -$305.0M+1.6% | -$310.0M-40.3% | -$221.0M+29.6% | -$314.0M-48.1% | -$212.0M+63.0% | -$573.0M |
| Financing Cash Flow | -$572.0M-494.5% | $145.0M+156.2% | -$258.0M+31.2% | -$375.0M-44.2% | -$260.0M-145.3% | -$106.0M+74.8% | -$420.0M-191.7% | -$144.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0-100.0% | $657.0M+75.2% | $375.0M-67.4% | $1.1B | $0 | $0-100.0% | $229.0M+59.0% | $144.0M |
IQV Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.5%+0.5pp | 32.9%-1.0pp | 33.9%-36.1pp | 70.0%+47.3pp | 22.6%+0.5pp | 22.1%-48.3pp | 70.5%+47.4pp | 23.1% |
| Operating Margin | 13.5%+0.9pp | 12.6%-0.4pp | 13.0%-2.9pp | 15.8%+2.2pp | 13.6%+0.1pp | 13.5%+0.6pp | 13.0%+0.1pp | 12.9% |
| Net Margin | 8.1%+1.4pp | 6.6%+0.1pp | 6.5%-4.5pp | 11.0%+1.5pp | 9.5%+1.8pp | 7.7%-4.4pp | 12.1%+4.0pp | 8.1% |
| Return on Equity | 5.4%+0.8pp | 4.6%+0.4pp | 4.2%-3.0pp | 7.2%+1.8pp | 5.4%+0.9pp | 4.5%-3.1pp | 7.7%+2.5pp | 5.2% |
| Return on Assets | 1.1%+0.2pp | 0.9%+0.0pp | 0.9%-0.7pp | 1.6%+0.2pp | 1.4%+0.3pp | 1.1%-0.7pp | 1.8%+0.6pp | 1.2% |
| Current Ratio | 0.70-0.1 | 0.84+0.0 | 0.82-0.0 | 0.84-0.0 | 0.85-0.0 | 0.88+0.0 | 0.86+0.1 | 0.79 |
| Debt-to-Equity | 2.08-0.4 | 2.45+0.3 | 2.19+0.1 | 2.12+0.3 | 1.80-0.2 | 2.02-0.1 | 2.120.0 | 2.12 |
| FCF Margin | 18.8%+11.6pp | 7.3%-3.9pp | 11.1%-7.1pp | 18.2%+6.6pp | 11.7%+1.6pp | 10.1%-4.6pp | 14.7%+3.0pp | 11.7% |
Note: The current ratio is below 1.0 (0.84), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Iqvia Hldgs Inc's annual revenue?
Iqvia Hldgs Inc (IQV) reported $15.4B in total revenue for fiscal year 2024. This represents a 2.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Iqvia Hldgs Inc's revenue growing?
Iqvia Hldgs Inc (IQV) revenue grew by 2.8% year-over-year, from $15.0B to $15.4B in fiscal year 2024.
Is Iqvia Hldgs Inc profitable?
Yes, Iqvia Hldgs Inc (IQV) reported a net income of $1.4B in fiscal year 2024, with a net profit margin of 8.9%.
What is Iqvia Hldgs Inc's earnings per share (EPS)?
Iqvia Hldgs Inc (IQV) reported diluted earnings per share of $7.49 for fiscal year 2024. This represents a 2.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Iqvia Hldgs Inc's EBITDA?
Iqvia Hldgs Inc (IQV) had EBITDA of $3.3B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Iqvia Hldgs Inc have?
As of fiscal year 2024, Iqvia Hldgs Inc (IQV) had $1.7B in cash and equivalents against $12.8B in long-term debt.
What is Iqvia Hldgs Inc's gross margin?
Iqvia Hldgs Inc (IQV) had a gross margin of 34.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Iqvia Hldgs Inc's operating margin?
Iqvia Hldgs Inc (IQV) had an operating margin of 14.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Iqvia Hldgs Inc's net profit margin?
Iqvia Hldgs Inc (IQV) had a net profit margin of 8.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Iqvia Hldgs Inc's return on equity (ROE)?
Iqvia Hldgs Inc (IQV) has a return on equity of 22.6% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Iqvia Hldgs Inc's free cash flow?
Iqvia Hldgs Inc (IQV) generated $2.1B in free cash flow during fiscal year 2024. This represents a 40.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Iqvia Hldgs Inc's operating cash flow?
Iqvia Hldgs Inc (IQV) generated $2.7B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Iqvia Hldgs Inc's total assets?
Iqvia Hldgs Inc (IQV) had $26.9B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Iqvia Hldgs Inc's capital expenditures?
Iqvia Hldgs Inc (IQV) invested $602.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Iqvia Hldgs Inc buy back shares?
Yes, Iqvia Hldgs Inc (IQV) spent $1.4B on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Iqvia Hldgs Inc have outstanding?
Iqvia Hldgs Inc (IQV) had 176M shares outstanding as of fiscal year 2024.
What is Iqvia Hldgs Inc's current ratio?
Iqvia Hldgs Inc (IQV) had a current ratio of 0.84 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Iqvia Hldgs Inc's debt-to-equity ratio?
Iqvia Hldgs Inc (IQV) had a debt-to-equity ratio of 2.12 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Iqvia Hldgs Inc's return on assets (ROA)?
Iqvia Hldgs Inc (IQV) had a return on assets of 5.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Iqvia Hldgs Inc's Altman Z-Score?
Iqvia Hldgs Inc (IQV) has an Altman Z-Score of 1.92, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Iqvia Hldgs Inc's Piotroski F-Score?
Iqvia Hldgs Inc (IQV) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Iqvia Hldgs Inc's earnings high quality?
Iqvia Hldgs Inc (IQV) has an earnings quality ratio of 1.98x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Iqvia Hldgs Inc cover its interest payments?
Iqvia Hldgs Inc (IQV) has an interest coverage ratio of 3.3x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Iqvia Hldgs Inc?
Iqvia Hldgs Inc (IQV) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.