IQVIA (IQV) Financials

$140.57 +3.57 (+2.61%)

Closing price 05/27/2025 03:59 PM Eastern

Extended Trading

$142.75 +2.18 (+1.55%)

As of 04:05 AM Eastern

Annual Income Statements for IQVIA

This table shows IQVIA's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	1,373	1,358	1,091	966	279	191	259	1,277	72	387
Consolidated Net Income / (Loss)	1,373	1,358	1,091	971	308	227	284	1,296	87	388
Net Income / (Loss) Continuing Operations	1,373	1,358	1,091	971	308	227	284	1,296	87	388
Total Pre-Tax Income	1,669	1,459	1,363	1,128	373	352	328	294	416	539
Total Operating Income	2,202	1,977	1,799	1,393	731	777	741	665	576	646
Total Gross Profit	5,375	5,239	5,028	4,641	3,859	3,788	3,666	3,401	2,067	1,621
Total Revenue	15,405	14,984	14,410	13,874	11,359	11,088	10,412	9,702	6,815	5,737
Operating Revenue	15,405	14,984	14,410	13,874	11,359	11,088	10,412	9,702	6,815	5,737
Total Cost of Revenue	10,030	9,745	9,382	9,233	7,500	7,300	6,746	6,301	4,748	4,116
Operating Cost of Revenue	10,030	9,745	9,382	9,233	7,500	7,300	6,746	6,301	4,748	4,116
Total Operating Expenses	3,173	3,262	3,229	3,248	3,128	3,011	2,925	2,736	1,491	975
Selling, General & Admin Expense	1,992	2,053	2,071	1,964	1,789	1,734	1,716	1,622	1,016	815
Depreciation Expense	1,114	1,125	1,130	1,264	1,287	1,202	1,141	1,011	289	128
Restructuring Charge	67	84	28	20	52	75	68	63	158	30
Total Other Income / (Expense), net	-533	-518	-436	-265	-358	-425	-413	-371	-160	-107
Interest Expense	670	678	416	401	429	471	416	365	175	109
Interest & Investment Income	47	36	13	6.00	6.00	9.00	8.00	7.00	4.00	4.00
Other Income / (Expense), net	90	124	-33	130	65	37	-5.00	-13	11	-2.00
Income Tax Expense	301	101	260	163	72	116	59	-992	325	159
Other Gains / (Losses), net	5.00	0.00	-12	6.00	7.00	-9.00	15	10	-4.00	8.00
Basic Earnings per Share	$7.57	$7.39	$5.82	$5.05	$1.46	$0.98	$1.27	$5.86	$0.48	$3.15
Weighted Average Basic Shares Outstanding	181.30M	183.80M	187.60M	191.40M	191.30M	195.10M	203.70M	217.80M	149.10M	123M
Diluted Earnings per Share	$7.49	$7.29	$5.72	$4.95	$1.43	$0.96	$1.24	$5.74	$0.47	$3.08
Weighted Average Diluted Shares Outstanding	183.40M	186.30M	190.60M	195M	195M	199.60M	208.20M	222.60M	152M	125.60M
Weighted Average Basic & Diluted Shares Outstanding	176.10M	181.50M	185.72M	190.49M	191.28M	192.34M	203.90M	217.90M	149.40M	122.90M

This table shows IQVIA's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	249	437	285	363	288	469	303	297	289	227	283
Consolidated Net Income / (Loss)	249	437	285	363	288	469	303	297	289	227	283
Net Income / (Loss) Continuing Operations	249	437	285	363	288	469	303	297	289	227	283
Total Pre-Tax Income	323	544	349	436	340	373	349	375	362	275	360
Total Operating Income	496	626	550	520	506	501	481	524	471	379	472
Total Gross Profit	1,298	1,378	1,378	1,326	1,293	1,390	1,310	1,285	1,254	1,332	1,241
Total Revenue	3,829	3,958	3,896	3,814	3,737	3,868	3,736	3,728	3,652	3,739	3,562
Operating Revenue	3,829	3,958	3,896	3,814	3,737	3,868	3,736	3,728	3,652	3,739	3,562
Total Cost of Revenue	2,531	2,580	2,518	2,488	2,444	2,478	2,426	2,443	2,398	2,407	2,321
Operating Cost of Revenue	2,531	2,580	2,518	2,488	2,444	2,478	2,426	2,443	2,398	2,407	2,321
Total Operating Expenses	802	752	828	806	787	889	829	761	783	953	769
Selling, General & Admin Expense	508	453	522	509	508	556	502	482	513	583	517
Depreciation Expense	265	303	278	269	264	316	297	259	253	357	248
Restructuring Charge	29	-4.00	28	28	15	17	30	20	17	13	4.00
Total Other Income / (Expense), net	-173	-82	-201	-84	-166	-128	-132	-149	-109	-104	-112
Interest Expense	169	171	170	163	166	187	181	169	141	128	108
Interest & Investment Income	11	11	13	12	11	12	14	4.00	6.00	6.00	4.00
Other Income / (Expense), net	-15	78	-44	67	-11	47	35	16	26	18	-8.00
Income Tax Expense	61	112	65	75	49	-102	51	81	71	48	70
Other Gains / (Losses), net	-13	5.00	1.00	2.00	-3.00	-6.00	5.00	3.00	-2.00	-	-7.00
Basic Earnings per Share	$1.42	$2.43	$1.57	$1.99	$1.58	$2.56	$1.66	$1.61	$1.56	$1.23	$1.52
Weighted Average Basic Shares Outstanding	175.70M	181.30M	182.10M	182.20M	181.90M	183.80M	182.90M	184.40M	185.80M	187.60M	186.50M
Diluted Earnings per Share	$1.40	$2.41	$1.55	$1.97	$1.56	$2.54	$1.63	$1.59	$1.53	$1.21	$1.49
Weighted Average Diluted Shares Outstanding	177.40M	183.40M	184.20M	184.30M	184.30M	186.30M	185.50M	186.70M	188.60M	190.60M	189.40M
Weighted Average Basic & Diluted Shares Outstanding	173M	176.10M	181.50M	182.30M	182.20M	181.50M	182.50M	183.12M	185.55M	185.72M	185.74M

This table details how cash moves in and out of IQVIA's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	326	160	-150	-448	977	-54	-68	-292	221	110
Net Cash From Operating Activities	2,716	2,149	2,260	2,942	1,959	1,417	1,254	970	860	476
Net Cash From Continuing Operating Activities	2,716	2,149	2,260	2,942	1,959	1,417	1,254	970	860	476
Net Income / (Loss) Continuing Operations	1,373	1,358	1,091	971	308	227	284	1,296	87	388
Consolidated Net Income / (Loss)	1,373	1,358	1,091	971	308	227	284	1,296	87	388
Depreciation Expense	1,114	1,125	1,130	1,264	1,287	1,202	1,141	1,011	289	128
Amortization Expense	21	18	15	17	18	13	11	12	33	17
Non-Cash Adjustments To Reconcile Net Income	179	197	223	739	63	113	108	59	61	-7.00
Changes in Operating Assets and Liabilities, net	29	-549	-199	-49	283	-138	-290	-1,408	390	-50
Net Cash From Investing Activities	-1,444	-1,603	-2,006	-2,103	-796	-1,190	-810	-1,190	1,731	-67
Net Cash From Continuing Investing Activities	-1,444	-1,603	-2,006	-2,103	-796	-1,190	-810	-1,190	1,731	-67
Purchase of Property, Plant & Equipment	-602	-649	-674	-640	-616	-582	-459	-369	-164	-78
Acquisitions	-735	-876	-1,315	-1,458	-177	-588	-309	-854	1,887	32
Purchase of Investments	-132	-45	-25	-15	1.00	-3.00	-44	-	-57	-23
Sale of Property, Plant & Equipment	25	0.00	0.00	-	-	-	-	-	-	-
Sale and/or Maturity of Investments	-2.00	-38	0.00	5.00	-2.00	-22	-	17	41	0.00
Other Investing Activities, net	2.00	5.00	8.00	5.00	-2.00	5.00	2.00	4.00	24	2.00
Net Cash From Financing Activities	-878	-382	-329	-1,235	-217	-276	-452	-72	-2,284	-249
Net Cash From Continuing Financing Activities	-878	-382	-329	-1,235	-217	-276	-452	-72	-2,284	-249
Repayment of Debt	-1,133	-5,632	-2,664	-2,731	-2,532	-3,722	-3,083	-4,702	-1,958	-2,083
Repurchase of Common Equity	-1,350	-992	-1,168	-406	-447	-949	-1,405	-2,620	-1,097	-515
Issuance of Debt	1,685	6,384	3,600	2,761	2,841	4,422	4,076	7,163	638	2,249
Other Financing Activities, net	-80	-142	-97	-101	-66	-9.00	-9.00	87	36	39
Effect of Exchange Rate Changes	-68	-4.00	-75	-52	31	-5.00	-60	-	-86	-50

This table details how cash moves in and out of IQVIA's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	38	130	27	101	68	152	-158	-112	278	-58	-154
Net Cash From Operating Activities	568	885	721	588	522	747	583	402	417	560	863
Net Cash From Continuing Operating Activities	568	885	721	588	522	747	583	402	417	560	863
Net Income / (Loss) Continuing Operations	249	437	285	363	288	469	303	297	289	227	283
Consolidated Net Income / (Loss)	249	437	285	363	288	469	303	297	289	227	283
Depreciation Expense	265	303	278	269	264	316	297	259	253	357	248
Amortization Expense	5.00	5.00	5.00	6.00	5.00	5.00	5.00	4.00	4.00	4.00	4.00
Non-Cash Adjustments To Reconcile Net Income	86	50	36	46	47	36	47	41	73	40	74
Changes in Operating Assets and Liabilities, net	-37	90	117	-96	-82	-79	-69	-199	-202	-68	254
Net Cash From Investing Activities	-305	-310	-599	-221	-314	-212	-573	-596	-222	-477	-717
Net Cash From Continuing Investing Activities	-305	-312	-597	-221	-314	-212	-573	-596	-222	-477	-717
Purchase of Property, Plant & Equipment	-142	-164	-150	-143	-145	-179	-146	-160	-164	-171	-165
Acquisitions	-134	-86	-428	-79	-142	-7.00	-425	-426	-18	-303	-548
Purchase of Investments	-13	-132	49	-24	-25	-25	-3.00	-6.00	-11	-21	9.00
Sale and/or Maturity of Investments	-17	66	-66	-	-2.00	-2.00	-	-	-36	14	-14
Other Investing Activities, net	1.00	4.00	-2.00	-	0.00	1.00	1.00	-4.00	7.00	4.00	1.00
Net Cash From Financing Activities	-258	-375	-137	-260	-106	-420	-144	95	87	-193	-251
Net Cash From Continuing Financing Activities	-258	-375	-137	-260	-106	-420	-144	95	87	-193	-251
Repayment of Debt	-2,102	-218	-244	-353	-318	-3,311	-442	-1,740	-139	-973	-389
Repurchase of Common Equity	-375	-1,150	-200	-	0.00	-229	-144	-490	-129	-65	-210
Issuance of Debt	2,260	1,000	310	100	275	3,125	450	2,334	475	850	350
Other Financing Activities, net	-41	-7.00	-3.00	-7.00	-63	-5.00	-8.00	-9.00	-120	-5.00	-2.00
Effect of Exchange Rate Changes	33	-	-	-6.00	-34	37	-24	-13	-4.00	-	-

This table presents IQVIA's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	26,899	26,681	25,337	24,689	24,564	23,251	22,549	22,857	21,208	3,926
Total Current Assets	5,829	5,596	4,981	4,763	5,090	4,126	3,874	3,554	3,337	2,412
Cash & Equivalents	1,702	1,376	1,216	1,366	1,814	837	891	959	1,198	977
Short-Term Investments	141	120	93	111	88	62	47	46	40	0.00
Accounts Receivable	3,204	3,381	2,917	2,551	2,410	2,582	2,394	2,097	1,707	1,166
Prepaid Expenses	154	141	151	156	159	138	151	146	123	51
Current Deferred & Refundable Income Taxes	36	32	43	58	56	56	69	47	34	135
Other Current Assets	592	546	561	521	563	451	322	259	235	83
Plant, Property, & Equipment, net	535	523	532	497	482	458	434	440	406	188
Total Noncurrent Assets	20,535	20,562	19,824	19,429	18,992	18,667	18,241	18,863	17,465	1,326
Long-Term Investments	374	239	162	164	162	152	142	78	82	85
Goodwill	14,710	14,567	13,921	13,301	12,654	12,159	11,800	11,850	10,727	720
Intangible Assets	4,499	4,839	4,820	4,943	5,205	5,514	5,951	6,591	6,390	368
Noncurrent Deferred & Refundable Income Taxes	194	166	118	124	114	119	109	109	89	43
Other Noncurrent Operating Assets	758	751	803	897	857	723	239	235	177	110
Total Liabilities & Shareholders' Equity	26,899	26,681	25,337	24,689	24,564	23,251	22,549	22,857	21,208	3,926
Total Liabilities	20,832	20,569	19,572	18,647	18,284	16,988	15,595	14,613	12,348	4,262
Total Current Liabilities	6,957	6,491	5,578	5,241	4,558	3,945	3,534	3,156	2,705	1,594
Short-Term Debt	1,145	718	152	91	149	100	100	103	92	49
Accounts Payable	3,684	3,564	3,316	2,981	2,813	2,512	2,295	322	250	145
Current Deferred Revenue	1,779	1,799	1,797	1,825	1,252	-	-	985	774	585
Current Deferred & Payable Income Tax Liabilities	156	116	161	137	102	108	100	72	76	35
Other Current Liabilities	193	294	152	207	242	1,225	1,039	10	20	19
Total Noncurrent Liabilities	13,875	14,078	13,994	13,406	13,726	13,043	12,061	11,457	9,643	2,668
Long-Term Debt	12,838	12,955	12,595	12,034	12,384	11,545	10,907	10,122	7,108	2,419
Noncurrent Deferred & Payable Income Tax Liabilities	196	202	464	410	338	646	736	895	2,133	66
Other Noncurrent Operating Liabilities	841	921	935	962	1,004	852	418	440	402	183
Commitments & Contingencies	0.00	0.00	0.00	0.00	-	-	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	6,067	6,112	5,765	6,042	6,280	6,263	6,954	8,244	8,860	-336
Total Preferred & Common Equity	6,067	6,112	5,765	6,042	6,001	6,003	6,714	7,995	8,633	-564
Total Common Equity	6,067	6,112	5,765	6,042	6,001	6,003	6,714	7,995	8,633	-564
Common Stock	11,143	11,028	10,898	10,777	11,095	11,049	10,901	10,782	10,602	9.00
Retained Earnings	6,065	4,692	3,334	2,243	1,277	998	807	538	-399	-462
Treasury Stock	-10,103	-8,741	-7,740	-6,572	-6,166	-5,733	-4,770	-3,374	-1,000	0.00
Accumulated Other Comprehensive Income / (Loss)	-1,038	-867	-727	-406	-205	-311	-224	49	-570	-111

This table presents IQVIA's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	27,322	26,899	27,180	26,398	26,574	26,681	25,977	26,036	25,739	25,337	24,223
Total Current Assets	5,911	5,829	5,632	5,622	5,651	5,596	5,208	5,329	5,328	4,981	4,752
Cash & Equivalents	1,740	1,702	1,572	1,545	1,444	1,376	1,224	1,382	1,494	1,216	1,274
Short-Term Investments	136	141	140	133	131	120	108	110	104	93	87
Accounts Receivable	3,268	3,204	3,196	3,255	3,426	3,381	3,227	3,139	3,063	2,917	2,640
Prepaid Expenses	166	154	195	191	173	141	177	179	165	151	176
Current Deferred & Refundable Income Taxes	43	36	54	41	35	32	49	45	42	43	47
Other Current Assets	558	592	475	457	442	546	423	474	460	561	528
Plant, Property, & Equipment, net	533	535	513	503	513	523	498	510	520	532	507
Total Noncurrent Assets	20,878	20,535	21,035	20,273	20,410	20,562	20,271	20,197	19,891	19,824	18,964
Long-Term Investments	383	374	320	287	263	239	214	208	201	162	151
Goodwill	15,027	14,710	15,091	14,477	14,516	14,567	14,288	14,178	14,015	13,921	13,177
Intangible Assets	4,503	4,499	4,734	4,608	4,725	4,839	4,907	4,942	4,757	4,820	4,718
Noncurrent Deferred & Refundable Income Taxes	245	194	164	158	152	166	111	115	125	118	97
Other Noncurrent Operating Assets	720	758	726	743	754	751	751	754	793	803	821
Total Liabilities & Shareholders' Equity	27,322	26,899	27,180	26,398	26,574	26,681	25,977	26,036	25,739	25,337	24,223
Total Liabilities	21,337	20,832	20,213	19,684	20,230	20,569	20,172	20,288	19,807	19,572	18,876
Total Current Liabilities	7,179	6,957	6,992	6,620	6,448	6,491	6,589	6,543	6,657	5,578	5,253
Short-Term Debt	1,222	1,145	1,219	1,167	717	718	1,309	1,344	1,343	152	151
Accounts Payable	3,559	3,684	3,434	3,313	3,455	3,564	3,133	3,007	3,143	3,316	2,971
Current Deferred Revenue	1,940	1,779	1,824	1,811	1,914	1,799	1,838	1,844	1,827	1,797	1,842
Current Deferred & Payable Income Tax Liabilities	139	156	161	185	155	116	172	208	187	161	124
Other Current Liabilities	319	193	354	144	207	294	137	140	157	152	165
Total Noncurrent Liabilities	14,158	13,875	13,221	13,064	13,782	14,078	13,583	13,745	13,150	13,994	13,623
Long-Term Debt	13,108	12,838	12,293	12,091	12,819	12,955	12,322	12,433	11,833	12,595	12,243
Noncurrent Deferred & Payable Income Tax Liabilities	197	196	128	149	164	202	365	367	421	464	560
Other Noncurrent Operating Liabilities	853	841	800	824	799	921	896	945	896	935	820
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,985	6,067	6,967	6,714	6,344	6,112	5,805	5,748	5,932	5,765	5,347
Total Preferred & Common Equity	5,977	6,067	6,967	6,714	6,344	6,112	5,805	5,748	5,932	5,765	5,347
Total Common Equity	5,977	6,067	6,967	6,714	6,344	6,112	5,805	5,748	5,932	5,765	5,347
Common Stock	11,173	11,143	11,106	11,061	11,016	11,028	10,994	10,952	10,909	10,898	10,853
Retained Earnings	6,314	6,065	5,628	5,343	4,980	4,692	4,223	3,920	3,623	3,334	3,107
Treasury Stock	-10,532	-10,103	-8,941	-8,741	-8,741	-8,741	-8,509	-8,364	-7,869	-7,740	-7,715
Accumulated Other Comprehensive Income / (Loss)	-978	-1,038	-826	-949	-911	-867	-903	-760	-731	-727	-898
Noncontrolling Interest	8.00	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from IQVIA's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.81%	3.98%	3.86%	22.14%	2.44%	6.49%	7.32%	42.36%	18.79%	5.07%
EBITDA Growth	5.64%	11.44%	3.82%	33.46%	3.55%	7.47%	12.72%	84.27%	15.21%	8.68%
EBIT Growth	9.09%	18.97%	15.96%	91.33%	-2.21%	10.60%	12.88%	11.07%	-8.85%	7.69%
NOPAT Growth	-1.92%	26.40%	22.16%	102.02%	13.24%	-14.28%	-79.11%	2,208.58%	-72.33%	9.87%
Net Income Growth	1.10%	24.47%	12.36%	215.26%	35.68%	-20.07%	-78.09%	1,389.66%	-77.58%	8.68%
EPS Growth	2.74%	27.45%	15.56%	246.15%	48.96%	-22.58%	-78.40%	1,121.28%	-84.74%	13.24%
Operating Cash Flow Growth	26.38%	-4.91%	-23.18%	50.18%	38.25%	13.00%	29.28%	12.79%	80.67%	9.93%
Free Cash Flow Firm Growth	143.26%	-11.66%	-33.50%	102.71%	28.07%	-51.03%	323.39%	101.94%	-47,438.45%	-90.64%
Invested Capital Growth	-1.20%	5.92%	3.12%	-1.33%	-0.64%	-0.14%	-2.90%	17.95%	1,277.57%	66.36%
Revenue Q/Q Growth	0.59%	0.87%	0.72%	2.50%	3.68%	1.90%	1.63%	2.60%	12.44%	1.96%
EBITDA Q/Q Growth	4.35%	3.54%	0.97%	3.16%	6.27%	0.79%	5.42%	6.21%	10.48%	4.18%
EBIT Q/Q Growth	7.30%	7.74%	-3.71%	12.56%	13.07%	-0.49%	12.37%	5.33%	-13.32%	4.25%
NOPAT Q/Q Growth	-7.74%	21.63%	-5.12%	18.72%	34.75%	-18.70%	-81.17%	2,968.26%	-73.67%	1.58%
Net Income Q/Q Growth	-2.28%	21.68%	-7.70%	24.01%	55.56%	-19.79%	-77.15%	2,845.45%	-78.87%	5.10%
EPS Q/Q Growth	-1.71%	22.32%	-6.69%	25.63%	58.89%	-21.31%	-77.58%	791.57%	-85.54%	5.12%
Operating Cash Flow Q/Q Growth	5.35%	9.53%	-5.52%	-1.93%	9.32%	13.27%	17.20%	-18.07%	38.79%	-9.61%
Free Cash Flow Firm Q/Q Growth	44.48%	661.18%	-40.24%	-4.08%	22.27%	-34.64%	-49.43%	101.76%	-2,426.06%	-71.78%
Invested Capital Q/Q Growth	-3.33%	0.89%	5.00%	1.58%	0.05%	-0.09%	-1.08%	8.40%	1,326.64%	-5.89%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.89%	34.96%	34.89%	33.45%	33.97%	34.16%	35.21%	35.05%	30.33%	28.26%
EBITDA Margin	22.25%	21.65%	20.20%	20.21%	18.50%	18.30%	18.13%	17.26%	13.34%	13.75%
Operating Margin	14.29%	13.19%	12.48%	10.04%	6.44%	7.01%	7.12%	6.85%	8.45%	11.26%
EBIT Margin	14.88%	14.02%	12.26%	10.98%	7.01%	7.34%	7.07%	6.72%	8.61%	11.23%
Profit (Net Income) Margin	8.91%	9.06%	7.57%	7.00%	2.71%	2.05%	2.73%	13.36%	1.28%	6.76%
Tax Burden Percent	82.26%	93.08%	80.04%	86.08%	82.57%	64.49%	86.59%	440.82%	20.91%	71.99%
Interest Burden Percent	72.82%	69.44%	77.18%	74.06%	46.86%	43.24%	44.57%	45.09%	70.87%	83.70%
Effective Tax Rate	18.03%	6.92%	19.08%	14.45%	19.30%	32.95%	17.99%	-337.42%	78.13%	29.50%
Return on Invested Capital (ROIC)	10.06%	10.49%	8.67%	7.16%	3.51%	3.09%	3.55%	18.11%	1.59%	53.17%
ROIC Less NNEP Spread (ROIC-NNEP)	6.42%	6.33%	5.32%	5.06%	0.83%	0.22%	0.15%	-3.36%	0.52%	48.27%
Return on Net Nonoperating Assets (RNNOA)	12.49%	12.38%	9.81%	8.60%	1.40%	0.35%	0.19%	-2.95%	0.45%	-127.78%
Return on Equity (ROE)	22.55%	22.87%	18.48%	15.76%	4.91%	3.44%	3.74%	15.15%	2.04%	-74.61%
Cash Return on Invested Capital (CROIC)	11.27%	4.74%	5.61%	8.50%	4.15%	3.23%	6.49%	1.64%	-171.33%	3.34%
Operating Return on Assets (OROA)	8.56%	8.08%	7.06%	6.18%	3.33%	3.55%	3.24%	2.96%	4.67%	17.83%
Return on Assets (ROA)	5.13%	5.22%	4.36%	3.94%	1.29%	0.99%	1.25%	5.88%	0.69%	10.75%
Return on Common Equity (ROCE)	22.55%	22.87%	18.48%	15.40%	4.70%	3.31%	3.62%	14.73%	1.93%	-90.98%
Return on Equity Simple (ROE_SIMPLE)	22.63%	22.22%	18.92%	16.07%	5.13%	3.78%	4.23%	16.21%	1.01%	-68.79%
Net Operating Profit after Tax (NOPAT)	1,805	1,840	1,456	1,192	590	521	608	2,909	126	455
NOPAT Margin	11.72%	12.28%	10.10%	8.59%	5.19%	4.70%	5.84%	29.98%	1.85%	7.94%
Net Nonoperating Expense Percent (NNEP)	3.64%	4.15%	3.35%	2.11%	2.68%	2.86%	3.40%	21.47%	1.07%	4.90%
Return On Investment Capital (ROIC_SIMPLE)	9.00%	9.30%	7.86%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	65.11%	65.04%	65.11%	66.55%	66.03%	65.84%	64.79%	64.95%	69.67%	71.74%
SG&A Expenses to Revenue	12.93%	13.70%	14.37%	14.16%	15.75%	15.64%	16.48%	16.72%	14.91%	14.21%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.60%	21.77%	22.41%	23.41%	27.54%	27.16%	28.09%	28.20%	21.88%	16.99%
Earnings before Interest and Taxes (EBIT)	2,292	2,101	1,766	1,523	796	814	736	652	587	644
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,427	3,244	2,911	2,804	2,101	2,029	1,888	1,675	909	789
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.88	6.91	6.60	8.92	5.72	4.99	3.50	2.59	2.17	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.32	2.82	2.64	3.89	3.02	2.70	2.26	2.13	2.75	1.47
Price to Earnings (P/E)	25.98	31.09	34.88	55.80	123.12	156.97	90.74	16.20	260.03	21.84
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.85%	3.22%	2.87%	1.79%	0.81%	0.64%	1.10%	6.17%	0.38%	4.58%
Enterprise Value to Invested Capital (EV/IC)	2.66	3.00	2.89	3.90	2.69	2.42	1.99	1.73	1.68	9.43
Enterprise Value to Revenue (EV/Rev)	3.08	3.61	3.42	4.64	3.97	3.68	3.23	3.10	3.64	1.76
Enterprise Value to EBITDA (EV/EBITDA)	13.84	16.70	16.95	22.96	21.47	20.13	17.83	17.96	27.31	12.78
Enterprise Value to EBIT (EV/EBIT)	20.69	25.78	27.93	42.27	56.66	50.17	45.75	46.13	42.30	15.66
Enterprise Value to NOPAT (EV/NOPAT)	26.28	29.44	33.89	54.03	76.45	78.39	55.40	10.34	197.06	22.14
Enterprise Value to Operating Cash Flow (EV/OCF)	17.46	25.20	21.83	21.88	23.02	28.82	26.85	31.01	28.87	21.19
Enterprise Value to Free Cash Flow (EV/FCFF)	23.46	65.17	52.43	45.51	64.62	74.93	30.26	114.45	0.00	352.51
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.30	2.24	2.21	2.01	2.00	1.86	1.58	1.24	0.81	-7.35
Long-Term Debt to Equity	2.12	2.12	2.18	1.99	1.97	1.84	1.57	1.23	0.80	-7.20
Financial Leverage	1.95	1.95	1.84	1.70	1.68	1.55	1.25	0.88	0.85	-2.65
Leverage Ratio	4.40	4.38	4.24	4.00	3.81	3.47	2.99	2.58	2.95	-6.94
Compound Leverage Factor	3.20	3.04	3.27	2.96	1.79	1.50	1.33	1.16	2.09	-5.81
Debt to Total Capital	69.74%	69.11%	68.86%	66.74%	66.62%	65.03%	61.28%	55.36%	44.83%	115.76%
Short-Term Debt to Total Capital	5.71%	3.63%	0.82%	0.50%	0.79%	0.56%	0.56%	0.56%	0.57%	2.30%
Long-Term Debt to Total Capital	64.03%	65.48%	68.04%	66.24%	65.83%	64.47%	60.73%	54.81%	44.26%	113.46%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	1.48%	1.45%	1.34%	1.35%	1.41%	10.69%
Common Equity to Total Capital	30.26%	30.89%	31.14%	33.26%	31.90%	33.52%	37.38%	43.29%	53.75%	-26.45%
Debt to EBITDA	4.08	4.21	4.38	4.32	5.97	5.74	5.83	6.10	7.92	3.13
Net Debt to EBITDA	3.43	3.68	3.87	3.74	4.98	5.22	5.26	5.46	6.47	1.78
Long-Term Debt to EBITDA	3.75	3.99	4.33	4.29	5.89	5.69	5.78	6.04	7.82	3.07
Debt to NOPAT	7.75	7.43	8.76	10.17	21.25	22.35	18.11	3.52	57.14	5.42
Net Debt to NOPAT	6.52	6.49	7.75	8.80	17.75	20.34	16.34	3.14	46.67	3.09
Long-Term Debt to NOPAT	7.11	7.04	8.65	10.10	20.99	22.16	17.95	3.48	56.41	5.31
Altman Z-Score	2.15	2.26	2.12	2.60	1.80	1.72	1.54	1.42	1.33	3.28
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	2.26%	4.30%	3.78%	3.22%	2.78%	5.34%	-21.93%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.84	0.86	0.89	0.91	1.12	1.05	1.10	1.13	1.23	1.51
Quick Ratio	0.73	0.75	0.76	0.77	0.95	0.88	0.94	0.98	1.09	1.34
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,022	831	941	1,415	698	545	1,113	263	-13,544	29
Operating Cash Flow to CapEx	470.71%	331.12%	335.31%	459.69%	318.02%	243.47%	273.20%	262.87%	524.39%	610.26%
Free Cash Flow to Firm to Interest Expense	3.02	1.23	2.26	3.53	1.63	1.16	2.67	0.72	-77.39	0.26
Operating Cash Flow to Interest Expense	4.05	3.17	5.43	7.34	4.57	3.01	3.01	2.66	4.91	4.37
Operating Cash Flow Less CapEx to Interest Expense	3.19	2.21	3.81	5.74	3.13	1.77	1.91	1.65	3.98	3.65
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.58	0.58	0.58	0.56	0.48	0.48	0.46	0.44	0.54	1.59
Accounts Receivable Turnover	4.68	4.76	5.27	5.59	4.55	4.46	4.64	5.10	4.74	5.36
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	29.12	28.41	28.01	28.34	24.17	24.86	23.83	22.94	22.95	30.33
Accounts Payable Turnover	2.77	2.83	2.98	3.19	2.82	3.04	5.16	22.03	24.04	32.44
Days Sales Outstanding (DSO)	78.01	76.71	69.25	65.26	80.20	81.90	78.72	71.56	76.94	68.12
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	131.88	128.85	122.49	114.52	129.58	120.18	70.80	16.57	15.18	11.25
Cash Conversion Cycle (CCC)	-53.87	-52.14	-53.24	-49.27	-49.37	-38.27	7.92	54.99	61.75	56.86
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	17,833	18,050	17,041	16,526	16,749	16,857	16,881	17,386	14,740	1,070
Invested Capital Turnover	0.86	0.85	0.86	0.83	0.68	0.66	0.61	0.60	0.86	6.70
Increase / (Decrease) in Invested Capital	-217	1,009	515	-223	-108	-24	-505	2,646	13,670	427
Enterprise Value (EV)	47,433	54,165	49,332	64,384	45,100	40,835	33,669	30,079	24,829	10,086
Market Capitalization	35,667	42,227	38,056	53,900	34,352	29,981	23,502	20,688	18,722	8,452
Book Value per Share	$33.43	$33.49	$31.04	$31.63	$31.30	$30.94	$33.19	$37.83	$35.07	($4.58)
Tangible Book Value per Share	($72.41)	($72.84)	($69.86)	($63.87)	($61.85)	($60.14)	($54.56)	($49.43)	($34.46)	($13.42)
Total Capital	20,050	19,785	18,512	18,167	18,813	17,908	17,961	18,469	16,060	2,132
Total Debt	13,983	13,673	12,747	12,125	12,533	11,645	11,007	10,225	7,200	2,468
Total Long-Term Debt	12,838	12,955	12,595	12,034	12,384	11,545	10,907	10,122	7,108	2,419
Net Debt	11,766	11,938	11,276	10,484	10,469	10,594	9,927	9,142	5,880	1,406
Capital Expenditures (CapEx)	577	649	674	640	616	582	459	369	164	78
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,826	-1,673	-1,754	-1,864	-1,221	-618	-498	-504	-514	-110
Debt-free Net Working Capital (DFNWC)	17	-177	-445	-387	681	281	440	501	724	867
Net Working Capital (NWC)	-1,128	-895	-597	-478	532	181	340	398	632	818
Net Nonoperating Expense (NNE)	432	482	365	221	282	294	324	1,613	39	67
Net Nonoperating Obligations (NNO)	11,766	11,938	11,276	10,484	10,469	10,594	9,927	9,142	5,880	1,406
Total Depreciation and Amortization (D&A)	1,135	1,143	1,145	1,281	1,305	1,215	1,152	1,023	322	145
Debt-free, Cash-free Net Working Capital to Revenue	-11.85%	-11.17%	-12.17%	-13.44%	-10.75%	-5.57%	-4.78%	-5.19%	-7.54%	-1.92%
Debt-free Net Working Capital to Revenue	0.11%	-1.18%	-3.09%	-2.79%	6.00%	2.53%	4.23%	5.16%	10.62%	15.11%
Net Working Capital to Revenue	-7.32%	-5.97%	-4.14%	-3.45%	4.68%	1.63%	3.27%	4.10%	9.27%	14.26%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$7.57	$7.39	$5.82	$5.05	$1.46	$0.98	$1.27	$6.01	$0.77	$3.15
Adjusted Weighted Average Basic Shares Outstanding	181.30M	183.80M	187.60M	191.40M	191.30M	195.10M	203.70M	217.80M	149.10M	123.04M
Adjusted Diluted Earnings per Share	$7.49	$7.29	$5.72	$4.95	$1.43	$0.96	$1.24	$5.88	$0.76	$3.08
Adjusted Weighted Average Diluted Shares Outstanding	183.40M	186.30M	190.60M	195M	195M	199.60M	208.20M	222.60M	152M	125.63M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	176.10M	181.50M	185.72M	190.49M	191.28M	192.34M	197.60M	208.25M	235.72M	119.38M
Normalized Net Operating Profit after Tax (NOPAT)	1,860	1,918	1,478	1,209	632	571	663	538	533	478
Normalized NOPAT Margin	12.07%	12.80%	10.26%	8.71%	5.56%	5.15%	6.37%	5.54%	7.83%	8.33%
Pre Tax Income Margin	10.83%	9.74%	9.46%	8.13%	3.28%	3.17%	3.15%	3.03%	6.10%	9.40%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.42	3.10	4.25	3.80	1.86	1.73	1.77	1.79	3.35	5.91
NOPAT to Interest Expense	2.69	2.71	3.50	2.97	1.38	1.11	1.46	7.97	0.72	4.18
EBIT Less CapEx to Interest Expense	2.56	2.14	2.63	2.20	0.42	0.49	0.67	0.78	2.42	5.19
NOPAT Less CapEx to Interest Expense	1.83	1.76	1.88	1.38	-0.06	-0.13	0.36	6.96	-0.22	3.46
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	78.06%	4.22%	7.93%	10.92%	0.00%	0.00%	0.77%
Augmented Payout Ratio	98.32%	73.05%	107.06%	119.88%	149.35%	425.99%	505.63%	202.16%	1,260.92%	133.51%

This table displays calculated financial ratios and metrics derived from IQVIA's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.46%	2.33%	4.28%	2.31%	2.33%	3.45%	4.88%	5.28%	2.35%	2.83%	5.04%
EBITDA Growth	-1.70%	16.46%	-3.55%	7.35%	1.33%	14.64%	14.25%	15.87%	1.34%	3.84%	1.70%
EBIT Growth	-2.83%	28.47%	-1.94%	8.70%	-0.40%	38.04%	11.21%	28.57%	2.47%	-14.62%	27.47%
NOPAT Growth	-7.10%	-22.08%	8.97%	4.80%	14.38%	103.93%	8.02%	15.74%	-7.00%	-19.85%	31.69%
Net Income Growth	-13.54%	-6.82%	-5.94%	22.22%	-0.35%	106.61%	7.07%	16.02%	-11.08%	-28.62%	8.43%
EPS Growth	-10.26%	-5.12%	-4.91%	23.90%	1.96%	109.92%	9.40%	18.66%	-8.93%	-25.31%	11.19%
Operating Cash Flow Growth	8.81%	18.47%	23.67%	46.27%	25.18%	33.39%	-32.45%	22.19%	-17.91%	-19.08%	2.25%
Free Cash Flow Firm Growth	229.48%	292.49%	91.25%	125.57%	-920.90%	-83.52%	-397.53%	-791.44%	94.98%	-132.96%	-44.69%
Invested Capital Growth	0.08%	-1.20%	3.11%	1.02%	4.23%	5.92%	10.23%	8.41%	2.41%	3.12%	-0.25%
Revenue Q/Q Growth	-3.26%	1.59%	2.15%	2.06%	-3.39%	3.53%	0.21%	2.08%	-2.33%	4.97%	0.59%
EBITDA Q/Q Growth	-25.79%	28.26%	-8.47%	12.83%	-12.08%	6.23%	1.87%	6.50%	-0.53%	5.87%	3.32%
EBIT Q/Q Growth	-31.68%	39.13%	-13.80%	18.59%	-9.67%	6.20%	-4.44%	8.65%	25.19%	-14.44%	10.48%
NOPAT Q/Q Growth	-19.07%	11.07%	3.95%	-0.58%	-32.12%	55.34%	-0.03%	8.50%	21.02%	-17.72%	7.12%
Net Income Q/Q Growth	-43.02%	53.33%	-21.49%	26.04%	-38.59%	54.79%	2.02%	2.77%	27.31%	-19.79%	10.55%
EPS Q/Q Growth	-41.91%	55.48%	-21.32%	26.28%	-38.58%	55.83%	2.52%	3.92%	26.45%	-18.79%	11.19%
Operating Cash Flow Q/Q Growth	-35.82%	22.75%	22.62%	12.64%	-30.12%	28.13%	45.02%	-3.60%	-25.54%	-35.11%	162.31%
Free Cash Flow Firm Q/Q Growth	-45.62%	752.55%	-144.03%	182.87%	19.16%	70.33%	-28.61%	-3,209.17%	85.47%	-148.11%	485.32%
Invested Capital Q/Q Growth	1.25%	-3.33%	2.44%	-0.19%	-0.04%	0.89%	0.36%	2.98%	1.57%	5.00%	-1.30%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.90%	34.82%	35.37%	34.77%	34.60%	35.94%	35.06%	34.47%	34.34%	35.62%	34.84%
EBITDA Margin	19.61%	25.57%	20.25%	22.60%	20.44%	22.47%	21.90%	21.54%	20.65%	20.27%	20.10%
Operating Margin	12.95%	15.82%	14.12%	13.63%	13.54%	12.95%	12.87%	14.06%	12.90%	10.14%	13.25%
EBIT Margin	12.56%	17.79%	12.99%	15.39%	13.25%	14.17%	13.81%	14.49%	13.61%	10.62%	13.03%
Profit (Net Income) Margin	6.50%	11.04%	7.32%	9.52%	7.71%	12.13%	8.11%	7.97%	7.91%	6.07%	7.95%
Tax Burden Percent	77.09%	80.33%	81.66%	83.26%	84.71%	125.74%	86.82%	79.20%	79.83%	82.55%	78.61%
Interest Burden Percent	67.15%	77.27%	68.97%	74.28%	68.69%	68.07%	67.64%	69.44%	72.84%	69.27%	77.59%
Effective Tax Rate	18.89%	20.59%	18.62%	17.20%	14.41%	-27.35%	14.61%	21.60%	19.61%	17.45%	19.44%
Return on Invested Capital (ROIC)	9.02%	10.78%	9.68%	9.55%	9.88%	14.09%	9.57%	9.44%	8.79%	7.18%	9.40%
ROIC Less NNEP Spread (ROIC-NNEP)	7.73%	10.28%	8.30%	8.97%	8.62%	12.63%	8.63%	8.46%	7.98%	6.39%	8.49%
Return on Net Nonoperating Assets (RNNOA)	14.91%	20.00%	15.32%	16.82%	16.21%	24.69%	17.78%	17.66%	15.06%	11.79%	16.19%
Return on Equity (ROE)	23.93%	30.79%	25.00%	26.37%	26.09%	38.77%	27.36%	27.10%	23.85%	18.97%	25.59%
Cash Return on Invested Capital (CROIC)	9.77%	11.27%	7.70%	9.65%	6.61%	4.74%	-0.87%	0.58%	5.96%	5.61%	9.69%
Operating Return on Assets (OROA)	7.22%	10.23%	7.48%	8.90%	7.63%	8.16%	8.17%	8.43%	7.78%	6.12%	7.72%
Return on Assets (ROA)	3.74%	6.35%	4.22%	5.50%	4.44%	6.99%	4.80%	4.64%	4.52%	3.50%	4.71%
Return on Common Equity (ROCE)	23.91%	30.79%	25.00%	26.37%	26.09%	38.77%	27.36%	27.10%	23.85%	18.97%	25.59%
Return on Equity Simple (ROE_SIMPLE)	22.32%	0.00%	20.17%	21.19%	21.39%	0.00%	19.22%	19.07%	17.78%	0.00%	22.11%
Net Operating Profit after Tax (NOPAT)	402	497	448	431	433	638	411	411	379	313	380
NOPAT Margin	10.51%	12.56%	11.49%	11.29%	11.59%	16.49%	10.99%	11.02%	10.37%	8.37%	10.67%
Net Nonoperating Expense Percent (NNEP)	1.29%	0.51%	1.38%	0.58%	1.26%	1.46%	0.94%	0.98%	0.80%	0.79%	0.91%
Return On Investment Capital (ROIC_SIMPLE)	1.98%	2.48%	-	-	-	3.22%	-	-	-	1.69%	-
Cost of Revenue to Revenue	66.10%	65.18%	64.63%	65.23%	65.40%	64.06%	64.94%	65.53%	65.66%	64.38%	65.16%
SG&A Expenses to Revenue	13.27%	11.45%	13.40%	13.35%	13.59%	14.37%	13.44%	12.93%	14.05%	15.59%	14.51%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.95%	19.00%	21.25%	21.13%	21.06%	22.98%	22.19%	20.41%	21.44%	25.49%	21.59%
Earnings before Interest and Taxes (EBIT)	481	704	506	587	495	548	516	540	497	397	464
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	751	1,012	789	862	764	869	818	803	754	758	716
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.19	5.88	6.20	5.74	7.28	6.91	6.21	7.26	6.23	6.60	6.32
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.00	2.32	2.82	2.54	3.06	2.82	2.43	2.84	2.55	2.64	2.36
Price to Earnings (P/E)	23.27	25.98	30.75	27.07	34.01	31.09	32.28	38.05	35.01	34.88	28.58
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.30%	3.85%	3.25%	3.69%	2.94%	3.22%	3.10%	2.63%	2.86%	2.87%	3.50%
Enterprise Value to Invested Capital (EV/IC)	2.39	2.66	2.96	2.77	3.21	3.00	2.69	3.02	2.79	2.89	2.75
Enterprise Value to Revenue (EV/Rev)	2.78	3.08	3.57	3.29	3.84	3.61	3.24	3.66	3.33	3.42	3.12
Enterprise Value to EBITDA (EV/EBITDA)	12.63	13.84	16.65	15.04	17.78	16.70	15.36	17.74	16.54	16.95	15.49
Enterprise Value to EBIT (EV/EBIT)	18.93	20.69	25.60	23.21	27.56	25.78	24.67	28.34	27.17	27.93	24.35
Enterprise Value to NOPAT (EV/NOPAT)	24.27	26.28	27.95	26.08	30.43	29.44	31.80	36.27	33.87	33.89	29.11
Enterprise Value to Operating Cash Flow (EV/OCF)	15.61	17.46	21.21	20.42	25.67	25.20	24.52	23.99	22.28	21.83	18.67
Enterprise Value to Free Cash Flow (EV/FCFF)	24.47	23.46	39.07	28.83	49.51	65.17	0.00	539.34	47.43	52.43	28.37
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.39	2.30	1.94	1.97	2.13	2.24	2.35	2.40	2.22	2.21	2.32
Long-Term Debt to Equity	2.19	2.12	1.76	1.80	2.02	2.12	2.12	2.16	1.99	2.18	2.29
Financial Leverage	1.93	1.95	1.85	1.88	1.88	1.95	2.06	2.09	1.89	1.84	1.91
Leverage Ratio	4.37	4.40	4.16	4.21	4.26	4.38	4.50	4.55	4.28	4.24	4.32
Compound Leverage Factor	2.94	3.40	2.87	3.13	2.93	2.98	3.04	3.16	3.12	2.93	3.35
Debt to Total Capital	70.54%	69.74%	65.98%	66.38%	68.09%	69.11%	70.13%	70.56%	68.96%	68.86%	69.86%
Short-Term Debt to Total Capital	6.02%	5.71%	5.95%	5.84%	3.61%	3.63%	6.73%	6.88%	7.03%	0.82%	0.85%
Long-Term Debt to Total Capital	64.52%	64.03%	60.03%	60.54%	64.48%	65.48%	63.40%	63.68%	61.93%	68.04%	69.01%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	29.42%	30.26%	34.02%	33.62%	31.91%	30.89%	29.87%	29.44%	31.04%	31.14%	30.14%
Debt to EBITDA	4.20	4.08	4.11	4.00	4.16	4.21	4.35	4.55	4.51	4.38	4.30
Net Debt to EBITDA	3.54	3.43	3.50	3.41	3.60	3.68	3.86	3.98	3.89	3.87	3.77
Long-Term Debt to EBITDA	3.84	3.75	3.74	3.65	3.94	3.99	3.93	4.10	4.05	4.33	4.25
Debt to NOPAT	8.07	7.75	6.91	6.94	7.12	7.43	9.01	9.29	9.24	8.76	8.08
Net Debt to NOPAT	6.79	6.52	5.87	5.91	6.15	6.49	7.99	8.15	7.97	7.75	7.09
Long-Term Debt to NOPAT	7.38	7.11	6.28	6.33	6.74	7.04	8.14	8.39	8.29	8.65	7.98
Altman Z-Score	1.77	1.95	2.14	2.06	2.22	2.07	1.87	2.02	1.88	1.94	1.88
Noncontrolling Interest Sharing Ratio	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.82	0.84	0.81	0.85	0.88	0.86	0.79	0.81	0.80	0.89	0.90
Quick Ratio	0.72	0.73	0.70	0.75	0.78	0.75	0.69	0.71	0.70	0.76	0.76
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	388	714	-109	249	-300	-371	-1,250	-972	-29	-202	420
Operating Cash Flow to CapEx	400.00%	539.63%	480.67%	411.19%	360.00%	417.32%	399.32%	251.25%	254.27%	327.49%	523.03%
Free Cash Flow to Firm to Interest Expense	2.30	4.18	-0.64	1.52	-1.81	-1.98	-6.91	-5.75	-0.21	-1.58	3.89
Operating Cash Flow to Interest Expense	3.36	5.18	4.24	3.61	3.14	3.99	3.22	2.38	2.96	4.38	7.99
Operating Cash Flow Less CapEx to Interest Expense	2.52	4.22	3.36	2.73	2.27	3.04	2.41	1.43	1.79	3.04	6.46
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.58	0.58	0.58	0.58	0.58	0.58	0.59	0.58	0.57	0.58	0.59
Accounts Receivable Turnover	4.63	4.68	4.77	4.74	4.64	4.76	5.06	5.05	5.10	5.27	5.76
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	29.63	29.12	30.30	29.92	29.18	28.41	29.56	28.26	27.58	28.01	28.84
Accounts Payable Turnover	2.88	2.77	3.02	3.11	2.97	2.83	3.17	3.27	3.17	2.98	3.32
Days Sales Outstanding (DSO)	78.83	78.01	76.54	77.00	78.59	76.71	72.08	72.32	71.54	69.25	63.40
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	126.53	131.88	120.72	117.26	122.98	128.85	115.15	111.65	115.00	122.49	110.10
Cash Conversion Cycle (CCC)	-47.69	-53.87	-44.18	-40.27	-44.40	-52.14	-43.07	-39.32	-43.45	-53.24	-46.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	18,056	17,833	18,447	18,007	18,042	18,050	17,890	17,825	17,309	17,041	16,229
Invested Capital Turnover	0.86	0.86	0.84	0.85	0.85	0.85	0.87	0.86	0.85	0.86	0.88
Increase / (Decrease) in Invested Capital	14	-217	557	182	733	1,009	1,661	1,383	408	515	-40
Enterprise Value (EV)	43,125	47,433	54,680	49,817	57,850	54,165	48,114	53,783	48,315	49,332	44,666
Market Capitalization	31,046	35,667	43,200	38,524	46,152	42,227	36,029	41,706	36,938	38,056	33,784
Book Value per Share	$33.94	$33.43	$38.22	$36.85	$34.88	$33.49	$31.70	$30.98	$31.94	$31.04	$28.67
Tangible Book Value per Share	($76.96)	($72.41)	($70.53)	($67.90)	($70.90)	($72.84)	($73.12)	($72.07)	($69.14)	($69.86)	($67.28)
Total Capital	20,315	20,050	20,479	19,972	19,880	19,785	19,436	19,525	19,108	18,512	17,741
Total Debt	14,330	13,983	13,512	13,258	13,536	13,673	13,631	13,777	13,176	12,747	12,394
Total Long-Term Debt	13,108	12,838	12,293	12,091	12,819	12,955	12,322	12,433	11,833	12,595	12,243
Net Debt	12,071	11,766	11,480	11,293	11,698	11,938	12,085	12,077	11,377	11,276	10,882
Capital Expenditures (CapEx)	142	164	150	143	145	179	146	160	164	171	165
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,922	-1,826	-1,853	-1,509	-1,655	-1,673	-1,404	-1,362	-1,584	-1,754	-1,711
Debt-free Net Working Capital (DFNWC)	-46	17	-141	169	-80	-177	-72	130	14	-445	-350
Net Working Capital (NWC)	-1,268	-1,128	-1,360	-998	-797	-895	-1,381	-1,214	-1,329	-597	-501
Net Nonoperating Expense (NNE)	153	60	163	68	145	169	108	114	90	86	97
Net Nonoperating Obligations (NNO)	12,071	11,766	11,480	11,293	11,698	11,938	12,085	12,077	11,377	11,276	10,882
Total Depreciation and Amortization (D&A)	270	308	283	275	269	321	302	263	257	361	252
Debt-free, Cash-free Net Working Capital to Revenue	-12.40%	-11.85%	-12.10%	-9.96%	-10.98%	-11.17%	-9.45%	-9.28%	-10.93%	-12.17%	-11.96%
Debt-free Net Working Capital to Revenue	-0.30%	0.11%	-0.92%	1.12%	-0.53%	-1.18%	-0.48%	0.89%	0.10%	-3.09%	-2.45%
Net Working Capital to Revenue	-8.18%	-7.32%	-8.88%	-6.59%	-5.29%	-5.97%	-9.30%	-8.27%	-9.17%	-4.14%	-3.50%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.42	$2.43	$1.57	$1.99	$1.58	$2.56	$1.66	$1.61	$1.56	$1.23	$1.52
Adjusted Weighted Average Basic Shares Outstanding	175.70M	181.30M	182.10M	182.20M	181.90M	183.80M	182.90M	184.40M	185.80M	187.60M	186.50M
Adjusted Diluted Earnings per Share	$1.40	$2.41	$1.55	$1.97	$1.56	$2.54	$1.63	$1.59	$1.53	$1.21	$1.49
Adjusted Weighted Average Diluted Shares Outstanding	177.40M	183.40M	184.20M	184.30M	184.30M	186.30M	185.50M	186.70M	188.60M	190.60M	189.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	173M	176.10M	181.50M	182.30M	182.20M	181.50M	182.50M	183.12M	185.55M	185.72M	185.74M
Normalized Net Operating Profit after Tax (NOPAT)	426	494	470	454	446	363	436	426	392	324	383
Normalized NOPAT Margin	11.12%	12.48%	12.07%	11.90%	11.93%	9.37%	11.68%	11.44%	10.74%	8.65%	10.76%
Pre Tax Income Margin	8.44%	13.74%	8.96%	11.43%	9.10%	9.64%	9.34%	10.06%	9.91%	7.35%	10.11%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.85	4.12	2.98	3.60	2.98	2.93	2.85	3.20	3.52	3.10	4.30
NOPAT to Interest Expense	2.38	2.91	2.63	2.64	2.61	3.41	2.27	2.43	2.69	2.44	3.52
EBIT Less CapEx to Interest Expense	2.01	3.16	2.09	2.72	2.11	1.97	2.04	2.25	2.36	1.77	2.77
NOPAT Less CapEx to Interest Expense	1.54	1.95	1.75	1.76	1.74	2.45	1.46	1.48	1.52	1.11	1.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	129.31%	98.32%	30.53%	26.21%	63.60%	73.05%	74.19%	81.57%	84.74%	107.06%	110.58%

Frequently Asked Questions About IQVIA's Financials

When does IQVIA's fiscal year end?

According to the most recent income statement we have on file, IQVIA's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has IQVIA's net income changed over the last 9 years?

IQVIA's net income appears to be on an upward trend, with a most recent value of $1.37 billion in 2024, rising from $388 million in 2015. The previous period was $1.36 billion in 2023. See IQVIA's forecast for analyst expectations on what’s next for the company.

What is IQVIA's operating income?

IQVIA's total operating income in 2024 was $2.20 billion, based on the following breakdown:

Total Gross Profit: $5.38 billion
Total Operating Expenses: $3.17 billion

How has IQVIA revenue changed over the last 9 years?

Over the last 9 years, IQVIA's total revenue changed from $5.74 billion in 2015 to $15.41 billion in 2024, a change of 168.5%.

How much debt does IQVIA have?

IQVIA's total liabilities were at $20.83 billion at the end of 2024, a 1.3% increase from 2023, and a 388.8% increase since 2015.

How much cash does IQVIA have?

In the past 9 years, IQVIA's cash and equivalents has ranged from $837 million in 2019 to $1.81 billion in 2020, and is currently $1.70 billion as of their latest financial filing in 2024.

How has IQVIA's book value per share changed over the last 9 years?

Over the last 9 years, IQVIA's book value per share changed from -4.58 in 2015 to 33.43 in 2024, a change of -829.5%.

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This page (NYSE:IQV) was last updated on 5/28/2025 by MarketBeat.com Staff

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IQVIA (IQV) Financials

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IQVIA (IQV) Financials

Annual Income Statements for IQVIA

Quarterly Income Statements for IQVIA

Annual Cash Flow Statements for IQVIA

Quarterly Cash Flow Statements for IQVIA

Annual Balance Sheets for IQVIA

Quarterly Balance Sheets for IQVIA

Annual Metrics And Ratios for IQVIA

Quarterly Metrics And Ratios for IQVIA

Frequently Asked Questions About IQVIA's Financials

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