IQVIA HOLDINGS INC. IQV
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.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 7.91 | 7.57 | 7.39 | 5.82 | 5.05 | 1.46 | 0.98 | 1.27 | 5.86 | 0.48 |
| EPS, diluted | 7.84 | 7.49 | 7.29 | 5.72 | 4.95 | 1.43 | 0.96 | 1.24 | 5.74 | 0.47 |
| Shares, diluted (wtd. avg.) | $173.5M | $183.4M | $186.3M | $190.6M | $195.0M | $195.0M | $199.6M | $208.2M | $222.6M | $152.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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.
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