This page shows Iqvia Hldgs Inc (IQV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Iqvia Hldgs Inc has an operating margin of 13.4%, meaning the company retains $13 of operating profit per $100 of revenue. This results in a moderate score of 52/100, indicating healthy but not exceptional operating efficiency. This is down from 14.3% the prior year.
Iqvia Hldgs Inc's revenue grew 5.9% year-over-year to $16.3B, a solid pace of expansion. This earns a growth score of 43/100.
Iqvia Hldgs Inc has a moderate D/E ratio of 2.13. This balance of debt and equity financing earns a leverage score of 58/100.
Iqvia Hldgs Inc's current ratio of 0.75 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 10/100, which could limit financial flexibility.
Iqvia Hldgs Inc has a free cash flow margin of 12.6%, earning a moderate score of 56/100. The company generates positive cash flow after capital investments, but with room for improvement.
Iqvia Hldgs Inc's ROE of 20.9% shows moderate profitability relative to equity, earning a score of 58/100. This is down from 22.6% the prior year.
Iqvia Hldgs Inc scores 1.80, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Iqvia Hldgs Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Iqvia Hldgs Inc generates $1.95 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 $3.0 in operating income for every $1 of interest expense ($2.2B vs $729.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Iqvia Hldgs Inc generated $16.3B in revenue in fiscal year 2025. This represents an increase of 5.9% from the prior year.
Iqvia Hldgs Inc's EBITDA was $3.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 0.3% from the prior year.
Iqvia Hldgs Inc reported $1.4B in net income in fiscal year 2025. This represents a decrease of 0.9% from the prior year.
Iqvia Hldgs Inc earned $7.84 per diluted share (EPS) in fiscal year 2025. This represents an increase of 4.7% from the prior year.
Cash & Balance Sheet
Iqvia Hldgs Inc generated $2.1B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 3.0% from the prior year.
Iqvia Hldgs Inc held $2.0B in cash against $13.9B in long-term debt as of fiscal year 2025.
Iqvia Hldgs Inc had 170M shares outstanding in fiscal year 2025. This represents a decrease of 3.6% from the prior year.
Margins & Returns
Iqvia Hldgs Inc's gross margin was 33.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.6 percentage points from the prior year.
Iqvia Hldgs Inc's operating margin was 13.4% in fiscal year 2025, reflecting core business profitability. This is down 0.9 percentage points from the prior year.
Iqvia Hldgs Inc's net profit margin was 8.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.6 percentage points from the prior year.
Iqvia Hldgs Inc's ROE was 20.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.7 percentage points from the prior year.
Capital Allocation
Iqvia Hldgs Inc spent $1.2B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 7.9% from the prior year.
Iqvia Hldgs Inc invested $603.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 0.2% from the prior year.
IQV Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.4B+6.4% | $4.1B+2.1% | $4.0B+4.9% | $3.8B-3.3% | $4.0B+1.6% | $3.9B+2.1% | $3.8B+2.1% | $3.7B |
| Cost of Revenue | $2.9B+7.4% | $2.7B+1.2% | $2.7B+6.4% | $2.5B-1.9% | $2.6B+2.5% | $2.5B+1.2% | $2.5B+1.8% | $2.4B |
| Gross Profit | $1.4B+4.6% | $1.4B+3.8% | $1.3B+1.9% | $1.3B-53.1% | $2.8B+202.7% | $915.0M+6.0% | $863.0M+4.4% | $827.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $468.0M-8.9% | $514.0M+1.0% | $509.0M+0.2% | $508.0M+12.1% | $453.0M-13.2% | $522.0M+2.6% | $509.0M+0.2% | $508.0M |
| Operating Income | $627.0M+13.4% | $553.0M+9.3% | $506.0M+2.0% | $496.0M-20.8% | $626.0M+13.8% | $550.0M+5.8% | $520.0M+2.8% | $506.0M |
| Interest Expense | $193.0M+2.1% | $189.0M+3.8% | $182.0M+10.3% | $165.0M-3.5% | $171.0M+0.6% | $170.0M+4.3% | $163.0M-1.8% | $166.0M |
| Income Tax | $59.0M-22.4% | $76.0M+35.7% | $56.0M-8.2% | $61.0M-45.5% | $112.0M+72.3% | $65.0M-13.3% | $75.0M+53.1% | $49.0M |
| Net Income | $514.0M+55.3% | $331.0M+24.4% | $266.0M+6.8% | $249.0M-43.0% | $437.0M+53.3% | $285.0M-21.5% | $363.0M+26.0% | $288.0M |
| EPS (Diluted) | N/A | $1.93+25.3% | $1.54+10.0% | $1.40 | N/A | $1.55-21.3% | $1.97+26.3% | $1.56 |
IQV Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $29.9B+4.2% | $28.7B+0.3% | $28.6B+4.8% | $27.3B+1.6% | $26.9B-1.0% | $27.2B+3.0% | $26.4B-0.7% | $26.6B |
| Current Assets | $6.2B+4.5% | $6.0B-5.8% | $6.3B+7.3% | $5.9B+1.4% | $5.8B+3.5% | $5.6B+0.2% | $5.6B-0.5% | $5.7B |
| Cash & Equivalents | $2.0B+9.2% | $1.8B-11.0% | $2.0B+17.2% | $1.7B+2.2% | $1.7B+8.3% | $1.6B+1.7% | $1.5B+7.0% | $1.4B |
| 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 | $16.6B+4.2% | $15.9B+2.2% | $15.6B+3.9% | $15.0B+2.2% | $14.7B-2.5% | $15.1B+4.2% | $14.5B-0.3% | $14.5B |
| Total Liabilities | $23.3B+3.9% | $22.4B-1.8% | $22.8B+7.1% | $21.3B+2.4% | $20.8B+3.1% | $20.2B+2.7% | $19.7B-2.7% | $20.2B |
| Current Liabilities | $8.3B-2.0% | $8.5B+12.4% | $7.6B+5.5% | $7.2B+3.2% | $7.0B-0.5% | $7.0B+5.6% | $6.6B+2.7% | $6.4B |
| Long-Term Debt | $13.9B+8.5% | $12.8B-9.8% | $14.2B+8.2% | $13.1B+2.1% | $12.8B+4.4% | $12.3B+1.7% | $12.1B-5.7% | $12.8B |
| Total Equity | $6.5B+5.6% | $6.2B+6.6% | $5.8B-3.3% | $6.0B-1.5% | $6.1B-12.9% | $7.0B+3.8% | $6.7B+5.8% | $6.3B |
| Retained Earnings | $7.4B+7.4% | $6.9B+5.0% | $6.6B+4.2% | $6.3B+4.1% | $6.1B+7.8% | $5.6B+5.3% | $5.3B+7.3% | $5.0B |
IQV Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $735.0M-19.1% | $908.0M+105.0% | $443.0M-22.0% | $568.0M-35.8% | $885.0M+22.7% | $721.0M+22.6% | $588.0M+12.6% | $522.0M |
| Capital Expenditures | $174.0M+27.9% | $136.0M-9.9% | $151.0M+6.3% | $142.0M-13.4% | $164.0M+9.3% | $150.0M+4.9% | $143.0M-1.4% | $145.0M |
| Free Cash Flow | $561.0M-27.3% | $772.0M+164.4% | $292.0M-31.5% | $426.0M-40.9% | $721.0M+26.3% | $571.0M+28.3% | $445.0M+18.0% | $377.0M |
| Investing Cash Flow | -$1.1B-100.7% | -$550.0M-59.0% | -$346.0M-13.4% | -$305.0M+1.6% | -$310.0M+48.2% | -$599.0M-171.0% | -$221.0M+29.6% | -$314.0M |
| Financing Cash Flow | $535.0M+193.5% | -$572.0M-494.5% | $145.0M+156.2% | -$258.0M+31.2% | -$375.0M-173.7% | -$137.0M+47.3% | -$260.0M-145.3% | -$106.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $212.0M | $0-100.0% | $657.0M+75.2% | $375.0M-67.4% | $1.1B+475.0% | $200.0M | $0 | $0 |
IQV Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.9%-0.6pp | 33.5%+0.5pp | 32.9%-1.0pp | 33.9%-36.1pp | 70.0%+46.5pp | 23.5%+0.9pp | 22.6%+0.5pp | 22.1% |
| Operating Margin | 14.4%+0.9pp | 13.5%+0.9pp | 12.6%-0.4pp | 13.0%-2.9pp | 15.8%+1.7pp | 14.1%+0.5pp | 13.6%+0.1pp | 13.5% |
| Net Margin | 11.8%+3.7pp | 8.1%+1.4pp | 6.6%+0.1pp | 6.5%-4.5pp | 11.0%+3.7pp | 7.3%-2.2pp | 9.5%+1.8pp | 7.7% |
| Return on Equity | 7.9%+2.5pp | 5.4%+0.8pp | 4.6%+0.4pp | 4.2%-3.0pp | 7.2%+3.1pp | 4.1%-1.3pp | 5.4%+0.9pp | 4.5% |
| Return on Assets | 1.7%+0.6pp | 1.1%+0.2pp | 0.9%+0.0pp | 0.9%-0.7pp | 1.6%+0.6pp | 1.1%-0.3pp | 1.4%+0.3pp | 1.1% |
| Current Ratio | 0.75+0.0 | 0.70-0.1 | 0.84+0.0 | 0.82-0.0 | 0.84+0.0 | 0.81-0.0 | 0.85-0.0 | 0.88 |
| Debt-to-Equity | 2.13+0.1 | 2.08-0.4 | 2.45+0.3 | 2.19+0.1 | 2.12+0.4 | 1.76-0.0 | 1.80-0.2 | 2.02 |
| FCF Margin | 12.9%-6.0pp | 18.8%+11.6pp | 7.3%-3.9pp | 11.1%-7.1pp | 18.2%+3.6pp | 14.7%+3.0pp | 11.7%+1.6pp | 10.1% |
Note: The current ratio is below 1.0 (0.75), 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 $16.3B in total revenue for fiscal year 2025. This represents a 5.9% 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 5.9% year-over-year, from $15.4B to $16.3B in fiscal year 2025.
Is Iqvia Hldgs Inc profitable?
Yes, Iqvia Hldgs Inc (IQV) reported a net income of $1.4B in fiscal year 2025, with a net profit margin of 8.3%.
What is Iqvia Hldgs Inc's EBITDA?
Iqvia Hldgs Inc (IQV) had EBITDA of $3.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Iqvia Hldgs Inc have?
As of fiscal year 2025, Iqvia Hldgs Inc (IQV) had $2.0B in cash and equivalents against $13.9B in long-term debt.
What is Iqvia Hldgs Inc's gross margin?
Iqvia Hldgs Inc (IQV) had a gross margin of 33.3% in fiscal year 2025, 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 13.4% in fiscal year 2025, 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 8.3% in fiscal year 2025, 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 20.9% for fiscal year 2025, 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 2025. This represents a -3.0% 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 2025, representing cash generated from core business activities.
What are Iqvia Hldgs Inc's total assets?
Iqvia Hldgs Inc (IQV) had $29.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Iqvia Hldgs Inc's capital expenditures?
Iqvia Hldgs Inc (IQV) invested $603.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Iqvia Hldgs Inc's current ratio?
Iqvia Hldgs Inc (IQV) had a current ratio of 0.75 as of fiscal year 2025, 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 2.13 as of fiscal year 2025, 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 4.5% for fiscal year 2025, 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 1.80, placing it in the Distress Zone (elevated bankruptcy 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 5 out of 9, indicating neutral 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 1.95x, 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 3.0x, 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 46 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.