IQVIA HOLDINGS INC. IQV

Industrials SIC 8731 - Services-Commercial Physical & Biological Research NAICS Professional, Scientific, and Technical Services › Scientific Research and Development Services › Research and Development in the Physical, Engineering, and Life Sciences › Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology) derived NYSE

IQVIA is a leading global provider of clinical research services, commercial insights and healthcare intelligence to the life sciences and healthcare industries. IQVIA's portfolio of solutions are powered by IQVIA Connected Intelligence™ to deliver actionable insights and services built on high-quality health data, Healthcare-grade AI®, advanced analytics, the latest technologies and extensive domain expertise. We are committed to using artificial intelligence ("AI") responsibly, with AI-powered capabilities built on best-in-class approaches to privacy, regulatory compliance and patient safety, and delivering AI to the high standards of trust, scalability and precision demanded by the industry. With approximately 93,000 employees in over 100 countries, including experts in healthcare, life sciences, data science, technology and operational excellence, we are dedicated to accelerating the development and commercialization of innovative medical treatments to help improve patient outcomes and population health worldwide.

Last close 279.36 2026-10-23
Market cap $46.63B 2026-03-31 share count
52-week range 154.50 - 282.98

Valuation FY2025 figures against the last close

P/S2.9x
P/E35.6x
P/FCF22.7x
EV/EBITDA18.1x
Dividend yield—
Diluted EPS7.84

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Research & Development Solutions
  • Technology & Analytics Solutions
  • Contract Sales & Medical Solutions
Revenue by segment, 3 categories over 3 years. The same figures are in the table below. FY2025 Research & Development Solutions, FY2025: 8.9B (54.5%) 55% Research & Development Solutions Technology & Analytics Solutions, FY2025: 6.6B (40.6%) 41% Technology & Analytics Solutions Contract Sales & Medical Solutions, FY2025: 788M (4.8%) 5% FY2024 Research & Development Solutions, FY2024: 8.5B (55.4%) 55% Technology & Analytics Solutions, FY2024: 6.2B (40.0%) 40% Contract Sales & Medical Solutions, FY2024: 718M (4.7%) 5% FY2023 Research & Development Solutions, FY2023: 8.4B (56.0%) 56% Technology & Analytics Solutions, FY2023: 5.9B (39.1%) 39% Contract Sales & Medical Solutions, FY2023: 727M (4.9%) 5%
Segment FY2025FY2024FY2023
Research & Development Solutions $8.90B $8.53B $8.39B
Technology & Analytics Solutions $6.63B $6.16B $5.86B
Contract Sales & Medical Solutions $788.0M $718.0M $727.0M

As the company reported it, from the “Segments - Operations by Reportable Segments (Detail)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $16.31B$15.40B$14.98B$14.41B$13.87B$11.36B$11.09B$10.41B$9.70B$6.82B
Cost of revenue ————————$4.62B$3.24B
Gross profit ————————$5.08B$3.58B
SG&A $2.00B$1.99B$2.05B$2.07B$1.96B$1.79B$1.73B$1.72B$1.62B$1.02B
Operating income $2.18B$2.20B$1.98B$1.80B$1.39B$731.0M$777.0M$741.0M$665.0M$576.0M
Interest expense $729.0M$670.0M$672.0M$416.0M$375.0M$416.0M$447.0M$414.0M$346.0M$144.0M
Pre-tax income $1.59B$1.67B$1.46B$1.36B$1.13B$373.0M$352.0M$328.0M$294.0M$416.0M
Income tax $252.0M$301.0M$101.0M$260.0M$163.0M$72.0M$116.0M$59.0M$992.0M$325.0M
Net income $1.36B$1.37B$1.36B$1.09B$966.0M$279.0M$191.0M$259.0M$1.28B$72.0M
EPS, basic 7.917.577.395.825.051.460.981.275.860.48
EPS, diluted 7.847.497.295.724.951.430.961.245.740.47
Shares, diluted (wtd. avg.) 173.5M183.4M186.3M190.6M195.0M195.0M199.6M208.2M222.6M152.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.98B$1.70B$1.38B$1.22B$1.37B$1.81B$837.0M$891.0M$959.0M$1.20B
Short-term investments $161.0M$141.0M$120.0M$93.0M$111.0M$88.0M$62.0M$47.0M$46.0M$40.0M
Receivables $3.40B$3.20B$3.38B$2.92B$2.55B$2.41B$2.58B$2.39B$2.10B$1.71B
Total current assets $6.25B$5.83B$5.60B$4.98B$4.76B$5.09B$4.13B$3.87B$3.55B$3.34B
Property, plant and equipment $533.0M$535.0M$523.0M$532.0M$497.0M$482.0M$458.0M$434.0M$440.0M$406.0M
Goodwill $16.62B$14.71B$14.57B$13.92B$13.30B$12.65B$12.16B$11.80B$11.85B$10.73B
Other intangibles $4.96B$4.50B$4.84B$4.82B$4.94B$5.21B$5.51B$5.95B$6.59B$6.39B
Total assets $29.94B$26.90B$26.68B$25.34B$24.69B$24.56B$23.25B$22.55B$22.86B$21.21B
Accounts payable ———————$437.0M$322.0M$250.0M
Short-term debt $1.84B$1.15B$718.0M$152.0M$91.0M$149.0M$100.0M$100.0M$103.0M$92.0M
Total current liabilities $8.34B$6.96B$6.49B$5.58B$5.24B$4.56B$3.94B$3.53B$3.16B$2.71B
Long-term debt $13.88B$12.84B$12.96B$12.60B$12.03B$12.38B$11.54B$10.91B$10.12B$7.11B
Total liabilities $23.31B$20.83B$20.57B$19.57B$18.65B$18.28B$16.99B$15.60B$14.61B$12.35B
Retained earnings $7.42B$6.07B$4.69B$3.33B$2.24B$1.28B$998.0M$807.0M$538.0M-$399.0M
Total equity $6.50B$6.07B$6.11B$5.76B$6.04B$6.28B$6.26B$6.95B$8.24B$8.78B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $2.65B$2.72B$2.15B$2.26B$2.94B$1.96B$1.42B$1.25B$970.0M$860.0M
Depreciation and amortisation $1.14B$1.11B$1.12B$1.13B$1.26B$1.29B$1.20B$1.14B$1.01B$289.0M
Stock-based compensation $247.0M$206.0M$217.0M$194.0M$170.0M$95.0M$146.0M$113.0M$106.0M$106.0M
Capital expenditure $603.0M$602.0M$649.0M$674.0M$640.0M$616.0M$582.0M$459.0M$369.0M$164.0M
Investing cash flow -$2.31B-$1.44B-$1.60B-$2.01B-$2.10B-$796.0M-$1.19B-$810.0M-$1.19B$1.73B
Financing cash flow -$150.0M-$878.0M-$382.0M-$329.0M-$1.24B-$217.0M-$276.0M-$452.0M-$72.0M-$2.28B
Buybacks $1.24B$1.35B$992.0M$1.17B$406.0M$447.0M$949.0M$1.41B$2.62B$1.10B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-008322.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B 20B Revenue, FY2016: 6.8B Gross profit, FY2016: 3.6B Net income, FY2016: 72M Revenue, FY2017: 9.7B Gross profit, FY2017: 5.1B Net income, FY2017: 1.3B Revenue, FY2018: 10.4B Net income, FY2018: 259M Revenue, FY2019: 11.1B Net income, FY2019: 191M Revenue, FY2020: 11.4B Net income, FY2020: 279M Revenue, FY2021: 13.9B Net income, FY2021: 966M Revenue, FY2022: 14.4B Net income, FY2022: 1.1B Revenue, FY2023: 15B Net income, FY2023: 1.4B Revenue, FY2024: 15.4B Net income, FY2024: 1.4B Revenue, FY2025: 16.3B Net income, FY2025: 1.4B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $6.82B $9.70B $10.41B $11.09B $11.36B $13.87B $14.41B $14.98B $15.40B $16.31B
Gross profit $3.58B $5.08B — — — — — — — —
Net income $72.0M $1.28B $259.0M $191.0M $279.0M $966.0M $1.09B $1.36B $1.37B $1.36B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement signed Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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NRC NRC HEALTH $485.1M 0.4x -4.0%
ONMD OneMedNet Corp $279.2M — 111.4%
MXCT MAXCYTE, INC. $144.5M — -5.7%