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IQV

IQVIA Holdings Inc.

IQV

IQVIA Holdings Inc. • NYSE
$230.01 ▼ -0.77% (-1.79)
Market Cap $39.17 B
52w High $234.30
52w Low $134.65
Dividend Yield 0%
P/E 31.64
Volume 471.42K
Outstanding Shares 170.29M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.1B ▲ $820M ▲ $331M ▲ 8.073% ▲ $1.94 ▲ $883M ▲
Q2-2025 $4.017B ▲ $817M ▲ $266M ▲ 6.622% ▲ $1.55 ▲ $781M ▲
Q1-2025 $3.829B ▼ $802M ▲ $249M ▼ 6.503% ▼ $1.42 ▼ $753M ▼
Q4-2024 $3.958B ▲ $752M ▼ $437M ▲ 11.041% ▲ $2.44 ▲ $1.018B ▲
Q3-2024 $3.896B $828M $285M 7.315% $1.57 $797M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.972B ▼ $28.727B ▲ $22.439B ▼ $6.16B ▲
Q2-2025 $2.188B ▲ $28.632B ▲ $22.846B ▲ $5.778B ▼
Q1-2025 $1.876B ▲ $27.322B ▲ $21.337B ▲ $5.977B ▼
Q4-2024 $1.843B ▲ $26.899B ▼ $20.832B ▲ $6.067B ▼
Q3-2024 $1.712B $27.18B $20.213B $6.967B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $332M ▲ $908M ▲ $-550M ▼ $-572M ▼ $-225M ▼ $1.201B ▲
Q2-2025 $266M ▲ $443M ▼ $-346M ▼ $145M ▲ $299M ▲ $292M ▼
Q1-2025 $249M ▼ $568M ▼ $-305M ▲ $-258M ▲ $38M ▼ $426M ▼
Q4-2024 $437M ▲ $885M ▲ $-310M ▲ $-375M ▼ $130M ▲ $721M ▲
Q3-2024 $285M $721M $-599M $-137M $27M $571M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q3-2025
Contract Sales And Medical Solutions
Contract Sales And Medical Solutions
 $180.00M ▲$180.00M ▲$180.00M ▲$210.00M ▲
Research And Development Solutions
Research And Development Solutions
 $2.16Bn ▲$2.12Bn ▼$2.10Bn ▼$2.26Bn ▲
Technology And Analytics Solutions
Technology And Analytics Solutions
 $1.55Bn ▲$1.66Bn ▲$1.55Bn ▼$1.63Bn ▲

Five-Year Company Overview

Income Statement

Income Statement IQVIA’s income statement shows a business that has been steadily getting larger and more profitable over the past several years. Revenue has grown consistently each year, and profits have risen even faster than sales, which implies better efficiency and healthier margins. Earnings per share have climbed meaningfully since the pandemic period, suggesting good operating leverage and disciplined cost control. The flip side is that this growth is closely tied to biopharma and healthcare spending, so any slowdown in drug development activity or pricing pressure from large customers could weigh on future growth, even if the current trend looks strong and well-established.

Balance Sheet

Balance Sheet The balance sheet reflects a scale player with substantial assets but a heavy reliance on debt financing. Cash on hand is reasonable but not especially large relative to total obligations, and overall leverage is clearly on the high side. Shareholder equity has been fairly stable rather than rapidly expanding, which can indicate uses of cash for buybacks, acquisitions, or debt service rather than simply building book value. The main message is that IQVIA appears financially solid but carries meaningful debt, so its balance sheet benefits from steady cash generation and could be more exposed if interest costs rise or industry conditions weaken.

Cash Flow

Cash Flow Cash flow is a key strength. The company consistently generates more cash from its operations than it spends on capital investments, leaving room for debt repayment, acquisitions, and shareholder returns. Operating cash flow has generally trended upward in line with earnings, and free cash flow has remained positive every year in the period shown. Capital spending is steady and manageable, which suggests the business model is not overly capital-intensive. The main risk is not about current cash health, but about how dependent this strong cash generation is on continued robust demand from life sciences clients.

Competitive Edge

Competitive Edge IQVIA holds a very strong competitive position in life sciences services, built around scale, data, and integration. Its vast healthcare data sets, global reach, and ability to support clients from early clinical trials through commercialization give it a differentiated, end‑to‑end offering that many rivals cannot fully match. Deep expertise across therapeutic areas and long-standing relationships with large pharma companies further reinforce its position. However, it still operates in a competitive field with other global contract research and data firms, and must continually prove its value on cost, speed, and quality to avoid pricing pressure and share loss.

Innovation and R&D

Innovation and R&D Innovation is one of IQVIA’s core assets. Rather than traditional lab research, its focus is on advanced data, analytics, and technology platforms. Flagship initiatives like the CORE analytics engine, Human Data Science Cloud, AI and machine learning tools, and decentralized clinical trial capabilities all aim to make drug development faster, more efficient, and more patient‑centric. Partnerships with major technology players and early‑stage biopharma platforms show a deliberate push to stay at the cutting edge. The opportunity is that these tools can deepen IQVIA’s moat and open new revenue streams; the risk is that rapid tech change requires sustained investment and flawless execution to stay ahead.

Summary

Overall, IQVIA combines steady profitable growth and strong cash generation with a debt‑heavy but manageable balance sheet, underpinned by a powerful competitive moat in healthcare data and clinical services. Its income statement trends and cash flows point to a business that has scaled effectively and improved profitability over time, while its balance sheet highlights the importance of maintaining healthy cash flows to support leverage. Competitively, IQVIA’s integrated platforms, data assets, and AI‑driven tools give it a clear edge, but it operates in a demanding, cyclical, and regulated industry where client budgets, regulation, and technology shifts can all alter the trajectory. The long‑term story rests on whether it can continue turning its innovation and data advantages into durable, high‑quality earnings and cash flow despite these external pressures.