I 
IQVIA Holdings IQV · USD
Health Care · Life Sciences Tools & Services · US listing · 🇺🇸 United States
S&P 500
278.84
+2.58%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$16.31bn
FY2016FY2025
Net income
$1.36bn
FY2016FY2025
Free cash flow
$2.05bn
FY2016FY2025
Shareholders' equity
$6.50bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.31bn | $15.40bn | $14.98bn | $14.41bn | $13.87bn | $11.36bn | $11.09bn | $10.41bn | $9.70bn | $6.82bn |
| Gross profit | $4.29bn | $5.38bn | $5.24bn | $5.03bn | $4.64bn | $3.86bn | $3.79bn | $3.67bn | $3.40bn | $2.07bn |
| Operating income | $2.29bn | $2.20bn | $1.98bn | $1.80bn | $1.39bn | $731.0m | $777.0m | $741.0m | $719.0m | $642.0m |
| Net income | $1.36bn | $1.37bn | $1.36bn | $1.09bn | $966.0m | $279.0m | $191.0m | $259.0m | $1.31bn | $115.0m |
| Diluted earnings per share | 7.91 | 7.59 | 7.37 | 5.78 | 4.96 | 1.46 | 0.97 | 1.27 | 6.11 | 0.48 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $29.94bn | $26.90bn | $26.68bn | $25.34bn | $24.69bn | $24.56bn | $23.25bn | $22.55bn | $22.74bn | $21.21bn |
| Cash and short-term investments | $2.14bn | $1.84bn | $1.50bn | $1.31bn | $1.48bn | $1.90bn | $899.0m | $938.0m | $1.00bn | $1.24bn |
| Total liabilities | $23.31bn | $20.83bn | $20.57bn | $19.57bn | $18.65bn | $18.28bn | $16.99bn | $15.60bn | $14.38bn | $12.35bn |
| Debt | $15.72bn | $14.21bn | $13.90bn | $12.98bn | $12.31bn | $12.65bn | $11.64bn | $11.01bn | $10.22bn | $7.20bn |
| Shareholders' equity | $6.50bn | $6.07bn | $6.11bn | $5.76bn | $6.04bn | $6.00bn | $6.00bn | $6.71bn | $8.11bn | $8.63bn |
| Shares outstanding | 172m | 181m | 184m | 189m | 195m | 191m | 197m | 204m | 214m | 239m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $2.65bn | $2.72bn | $2.15bn | $2.26bn | $2.94bn | $1.96bn | $1.42bn | $1.25bn | $970.0m | $860.0m |
| Capital spending | −$603.0m | −$602.0m | −$649.0m | −$674.0m | −$640.0m | −$616.0m | −$582.0m | −$459.0m | −$369.0m | −$164.0m |
| Free cash flow | $2.05bn | $2.11bn | $1.50bn | $1.59bn | $2.30bn | $1.34bn | $835.0m | $795.0m | $601.0m | $696.0m |
| Dividends paid | — | — | — | — | −$59.0m | −$44.0m | −$11.0m | −$4.08bn | −$7.16bn | −$638.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.37bn | $4.15bn | $4.36bn | $4.10bn | $4.02bn | $3.83bn | $3.96bn | $3.90bn |
| Gross profit | $1.44bn | $1.35bn | $292.0m | $1.37bn | $1.32bn | $1.30bn | $1.38bn | $1.38bn |
| Operating income | $506.0m | $514.0m | $732.0m | $553.0m | $506.0m | $496.0m | $626.0m | $550.0m |
| Net income | $256.0m | $274.0m | $514.0m | $331.0m | $266.0m | $249.0m | $437.0m | $285.0m |
| Diluted earnings per share | 1.52 | 1.63 | 2.99 | 1.93 | 1.55 | 1.45 | 2.42 | 1.58 |
| Cash from operations | $558.0m | $618.0m | $735.0m | $908.0m | $443.0m | $568.0m | $885.0m | $721.0m |
| Capital spending | −$198.0m | −$127.0m | −$174.0m | −$293.0m | −$151.0m | −$142.0m | −$164.0m | −$150.0m |
| Free cash flow | $360.0m | $491.0m | $561.0m | $615.0m | $292.0m | $426.0m | $721.0m | $571.0m |
| Total assets | $29.88bn | $29.68bn | $29.94bn | $28.73bn | $28.63bn | $27.32bn | $26.90bn | $27.18bn |
| Cash and short-term investments | $2.08bn | $1.95bn | $2.14bn | $1.97bn | $2.19bn | $1.88bn | $1.84bn | $1.71bn |
| Debt | $16.00bn | $15.83bn | $15.72bn | $14.96bn | $15.49bn | $14.33bn | $13.98bn | $13.51bn |
| Shareholders' equity | $6.17bn | $6.22bn | $6.50bn | $6.16bn | $5.78bn | $5.98bn | $6.07bn | $6.97bn |
Financial ratios
Data as of 23 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 26.3% | 34.9% | 35.0% | 34.9% | 33.5% | 34.0% | — | — | — | — | — |
| Operating margin | 14.0% | 14.3% | 13.2% | 12.5% | 10.0% | 6.4% | — | — | — | — | — |
| Net margin | 8.3% | 8.9% | 9.1% | 7.6% | 7.0% | 2.5% | — | — | — | — | — |
| Return on equity | 20.9% | 22.6% | 22.2% | 18.9% | 16.0% | 4.6% | — | — | — | — | — |
| Return on assets | 4.5% | 5.1% | 5.1% | 4.3% | 3.9% | 1.1% | — | — | — | — | — |
| Free cash flow yield | 7.0% | 6.8% | 5.6% | 5.7% | 6.8% | 5.0% | — | — | — | — | — |
| Revenue growth | 5.9% | 2.8% | 4.0% | 3.9% | 22.1% | 2.4% | — | — | — | — | — |
| Earnings growth | -0.9% | 1.1% | 24.5% | 12.9% | 246.2% | 46.1% | — | — | — | — | — |
| Current ratio | 0.75x | 0.84x | 0.86x | 0.89x | 0.91x | 1.12x | — | — | — | — | — |
| Debt to equity | 2.42x | 2.30x | 2.24x | 2.21x | 2.01x | 2.09x | — | — | — | — | — |
| Equity ratio | 21.7% | 22.6% | 22.9% | 22.8% | 24.5% | 24.4% | — | — | — | — | — |
| Interest coverage | 3.14x | 3.29x | 2.94x | 4.32x | 3.71x | 1.76x | — | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% |
| Buybacks as a share of market value | 4.9% | 1.9% | 2.3% | 3.2% | -1.8% | 2.9% | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.2% | 7.5% | 11.0% |
| Operating income | 8.3% | 25.6% | 13.5% |
| Net income | 7.6% | 37.3% | 13.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.5% | 32.6% | 32.9% | 33.0% |
| Operating margin | 14.2% | 13.5% | 12.0% | 10.7% |
| Net margin | 8.6% | 8.5% | 7.4% | 6.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 28.5 | 25.9 | 31.4 | 35.4 | 56.9 | 122.8 | 159.4 | 91.5 | 16.0 | 157.9 |
| Price to sales | 2.4 | 2.3 | 2.9 | 2.7 | 4.0 | 3.0 | 2.8 | 2.3 | 2.2 | 2.7 |
Market value over time
31 Oct 2016 to 22 Sept 2026, in USD
$8.68bn$45.54bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 17% | -17% | 15% | -25% | 50% | 13% | 42% | 10% | 30% | 15% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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