IQVIA

Health Care Life Sciences Tools & Services Durham, North Carolina Last filing Feb 17, 2026 · FY2025

                    Revenue
                    FY2025
                
$16.3B
                    3y CAGR +4.2%
                    
                    P47
                    
                    +5.9%
                    
                    Net income
                    FY2025
                
$1.4B
                    Net margin +8.3%
                    
                    P29
                    
                    -0.9%
                    
                    Total assets
                    FY2025
                
$29.9B
                    ROA +4.5%
                    
                    P41
                    
                    +11.3%
                    
                    Operating cash flow
                    FY2025
                
$2.7B
                    FCF margin +12.6%
                    
                    P37
                    
                    -2.3%

15 yrs · FY2011–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 5 years

Total assets $29.9B

Total liabilities $23.3B

Shareholders equity $6.5B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	12.1%	11.0%	9.2%	8.4%	9.8%
Short Term Investments	1.0%	0.9%	0.8%	0.6%	0.8%
Accounts Receivable	20.8%	20.8%	22.6%	20.2%	18.4%
Prepaid Expenses	1.0%	1.0%	0.9%	1.0%	1.1%
Other Current Assets	3.3%	4.1%	3.9%	4.2%	4.2%
Total Current Assets	38.3%	37.8%	37.3%	34.6%	34.3%
Property,Plant and Equipment	3.3%	3.5%	3.5%	3.7%	3.6%
Operating Lease Assets	1.8%	1.5%	2.0%	2.3%	2.9%
Goodwill	101.9%	95.5%	97.2%	96.6%	95.9%
Intangible Assets	30.4%	29.2%	32.3%	33.4%	35.6%
Long Term Investments	2.0%	1.7%	0.9%	0.7%	0.6%
Deferred Tax Assets	2.2%	1.3%	1.1%	0.8%	0.9%
Other Noncurrent Assets	3.8%	4.1%	3.7%	3.7%	4.1%
Total Assets	183.6%	174.6%	178.1%	175.8%	178.0%
Liabilities
Accrued Liabilities	0.9%	1.0%	0.8%	1.1%	1.0%
Deferred Revenue	13.0%	11.5%	12.0%	12.5%	13.2%
Current Portion of Long Term Debt	11.3%	7.4%	4.8%	1.1%	0.7%
Other Current Liabilities	26.0%	25.2%	25.7%	24.1%	23.0%
Total Current Liabilities	51.1%	45.2%	43.3%	38.7%	37.8%
Long Term Debt	85.1%	83.3%	86.5%	87.4%	86.7%
Operating Lease Liabilities Noncurrent	1.4%	1.1%	1.5%	1.8%	2.3%
Deferred Tax Liabilities	1.1%	1.3%	1.3%	3.2%	3.0%
Other Noncurrent Liabilities	4.2%	4.3%	4.7%	4.7%	4.7%
Total Liabilities	142.9%	135.2%	137.3%	135.8%	134.4%
Equity
Common Stock	69.8%	72.3%	73.6%	75.6%	77.7%
Retained Earnings	45.5%	39.4%	31.3%	23.1%	16.2%
Treasury Stock	69.6%	65.6%	58.3%	53.7%	47.4%
Accumulated Other Comprehensive Income	-5.8%	-6.7%	-5.8%	-5.0%	-2.9%
Total Stockholders Equity	39.9%	39.4%	40.8%	40.0%	43.5%
Noncontrolling Interest	0.8%	0.0%	—	—	—
Total Liabilitiesand Equity	183.6%	174.6%	178.1%	175.8%	178.0%

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $16.3B

Operating income $2.2B

Net income $1.4B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	66.7%	65.1%	65.0%	65.1%	66.5%
Expenses Selling,General and Administrative	12.3%	12.9%	13.7%	14.4%	14.2%
Expenses Depreciation and Amortization	7.0%	7.2%	7.5%	7.8%	9.1%
Expenses Restructuring and Asset Impairment	0.6%	0.4%	0.6%	0.2%	0.1%
Other Income Expense Operating Income	13.4%	14.3%	13.2%	12.5%	10.0%
Other Income Expense Interest Income	0.3%	0.3%	0.2%	0.1%	0.0%
Other Income Expense Interest Expense	4.5%	4.3%	4.5%	2.9%	2.7%
Other Income Expense Other Income/expense	0.6%	0.6%	0.8%	-0.2%	0.7%
Other Income Expense Income Before Tax	9.8%	10.8%	9.7%	9.5%	8.1%
Income Tax Income Tax Expense	1.5%	2.0%	0.7%	1.8%	1.2%
net Income Other Items Below Tax	0.1%	0.0%	0.0%	-0.1%	0.0%
net Income net Income	8.3%	8.9%	9.1%	7.6%	7.0%
net Income Comprehensive Income	8.9%	7.8%	8.1%	—	5.6%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	1.1%	1.2%	1.2%	1.3%	1.4%

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 5 years

Operating cash flow $2.7B

Investing cash flow $-2.3B

Financing cash flow $-150.0M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	8.3%	8.9%	9.1%	7.6%	7.0%
Operating Activities Depreciation and Amortization	7.0%	7.2%	7.5%	7.8%	9.1%
Operating Activities Stock Based Compensation	1.5%	1.3%	1.4%	1.3%	1.2%
Operating Activities Deferred Income Taxes	-1.1%	-0.8%	-1.8%	-0.8%	-1.0%
Operating Activities Changes In Operating Assets and Liabilities	0.8%	1.0%	-1.9%	-0.6%	4.9%
Operating Activities Other Non Cash Items	-0.3%	-0.0%	-0.0%	0.3%	-0.0%
Operating Activities net Cash From Operating Activities	16.3%	17.6%	14.3%	15.7%	21.2%
Investing Activities Capital Expenditures	-3.7%	-3.9%	-4.3%	-4.7%	-4.6%
Investing Activities Business Acquisitions	-10.5%	-4.8%	-5.8%	-9.1%	-10.5%
Investing Activities Other Investing Activities	0.1%	-0.7%	-0.5%	-0.1%	-0.0%
Investing Activities net Cash From Investing Activities	-14.1%	-9.4%	-10.7%	-13.9%	-15.2%
Financing Activities Proceeds From Debt	60.3%	10.9%	42.6%	25.0%	19.9%
Financing Activities Repayment of Debt	-52.7%	-7.3%	-37.3%	-18.5%	-19.4%
Financing Activities Repurchase of Common Stock	-7.6%	-8.8%	-6.6%	-8.1%	-2.9%
Financing Activities Other Financing Activities	-0.9%	-0.5%	-1.3%	-0.7%	-6.5%
Financing Activities net Cash From Financing Activities	-0.9%	-5.7%	-2.5%	-2.3%	-8.9%
Cash Reconciliation Effect of Exchange Rate On Cash	0.5%	-0.4%	-0.0%	-0.5%	-0.4%
Cash Reconciliation net Change In Cash	1.7%	2.1%	1.1%	-1.0%	-3.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+33.3%	+34.9%	+35.0%	+34.9%	+33.5%
Operating margin	+13.4%	+14.3%	+13.2%	+12.5%	+10.0%
Net margin	+8.3%	+8.9%	+9.1%	+7.6%	+7.0%
FCF margin	+12.6%	+13.7%	+10.0%	+11.0%	+16.6%
Growth
Revenue CAGR (3y)	+4.2%	+3.6%	+9.7%	+9.1%	+10.0%
Returns
ROE	+20.9%	+22.6%	+22.2%	+18.9%	+16.0%
ROA	+4.5%	+5.1%	+5.1%	+4.3%	+3.9%
ROIC	+9.1%	+9.8%	+10.0%	+8.4%	+7.1%
Liquidity
Current ratio	0.75x	0.84x	0.86x	0.89x	0.91x
Quick ratio	0.65x	0.71x	0.73x	0.74x	0.75x
Leverage
D/E	3.59x	3.43x	3.37x	3.39x	3.09x
Interest coverage	2.99x	3.29x	2.94x	4.32x	3.71x
Efficiency
Asset turnover	0.54x	0.57x	0.56x	0.57x	0.56x
Cash conversion cycle	—	—	—	—	—

Valuation

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FY2025 fundamentals · no price

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IQVIA

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