IQVIA HOLDINGS INC.

Listed Company

IQVCIK 0001478242NYSELarge AcceleratedServices-Commercial Physical & Biological ResearchDelawareFY ends Dec 31

Period

FY 2025

Revenue

$16.31B

Net Income

$1.36B

Total Assets

$29.94B

Equity

$6.50B

Shares Out

169.70M

Op. Cash Flow

$2.65B

Business

IQVIA HOLDINGS INC. is a global provider of clinical research services, commercial insights and healthcare intelligence to the life sciences and broader healthcare industries. It offers clinical development and trial management, laboratory and genomic services, real-world evidence, analytics and consulting, cloud-based SaaS platforms, and contract sales and patient engagement solutions. The company reports three principal segments—Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions. IQVIA delivers its offerings through extensive data platforms, software, consulting, and field services to clients in over 100 countries, including biopharmaceutical companies, payers, providers, governments and other healthcare stakeholders.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	16,310	15,405	14,984	14,410	13,874
Cost of revenues, exclusive of depreciation and amortization	10,880	10,030	9,745	9,382	9,233
Selling, general and administrative expenses	1,999	1,992	2,053	2,071	1,964
Depreciation and amortization	1,144	1,114	1,125	1,130	1,264
Restructuring costs	105	67	84	28	20
Income from operations	2,182	2,202	1,977	1,799	1,393
Interest income	−45	−47	−36	−13	−6
Interest expense	729	670	672	416	375
Loss on extinguishment of debt	6	0	6	0	26
Other income, net	−99	−90	−124	33	−130
Income before income taxes and equity in earnings of unconsolidated affiliates	1,591	1,669	1,459	1,363	1,128
Income tax expense	252	301	101	260	163
Income before equity in earnings of unconsolidated affiliates	1,339	1,368	1,358	1,103	965
Equity in earnings of unconsolidated affiliates	22	5	0	−12	6
Net income	1,361	1,373	1,358	1,091	971
Net Income (Loss) Attributable to Noncontrolling Interest	−1	0	0	0	−5
Net income	1,360	1,373	1,358	1,091	966
Basic (in dollars per share)	7.91	7.57	7.39	5.82	5.05
Diluted (in dollars per share)	7.84	7.49	7.29	5.72	4.95
Basic (in shares)	172	181	184	188	191
Diluted (in shares)	174	183	186	191	195

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,980	1,702	1,376	1,216	1,366
Trade accounts receivable and unbilled services, net	3,400	3,204	3,381	2,917	2,551
Prepaid expenses	162	154	141	151	156
Income taxes receivable	27	36	32	43	58
Investments in debt, equity and other securities	161	141	120	93	111
Other current assets and receivables	519	592	546	561	521
Total current assets	6,249	5,829	5,596	4,981	4,763
Property and equipment, net	533	535	523	532	497
Operating lease right-of-use assets	290	238	296	331	406
Investments in debt, equity and other securities	108	108	105	68	76
Investments in unconsolidated affiliates	324	266	134	94	88
Goodwill	16,616	14,710	14,567	13,921	13,301
Other identifiable intangibles, net	4,962	4,499	4,839	4,820	4,943
Deferred income taxes	357	194	166	118	124
Deposits and other assets, net	505	520	455	472	491
Total assets	29,944	26,899	26,681	25,337	24,689
Accounts payable and accrued expenses	3,751	3,684	3,564	3,316	2,981
Unearned income	2,118	1,779	1,799	1,797	1,825
Income taxes payable	140	156	116	161	137
Current portion of long-term debt	1,840	1,145	718	152	91
Other current liabilities	489	193	294	152	207
Total current liabilities	8,338	6,957	6,491	5,578	5,241
Long-term debt, less current portion	13,884	12,838	12,955	12,595	12,034
Deferred income taxes	179	196	202	464	410
Operating lease liabilities	225	173	223	264	313
Other liabilities	688	668	698	671	649
Total liabilities	23,314	20,832	20,569	19,572	18,647
Commitments and contingencies (Note 1 and 12)	—	—	—	—	—
Common stock and additional paid-in capital, 400.0 shares authorized as of December 31, 2025 and 2024, $0.01 par value, 259.1 shares issued and 169.6 shares outstanding as of December 31, 2025; 258.2 shares issued and 176.1 shares outstanding as of December 31, 2024	11,378	11,143	11,028	10,898	10,777
Retained earnings	7,425	6,065	4,692	3,334	2,243
Treasury stock, at cost, 89.5 and 82.1 shares as of December 31, 2025 and 2024, respectively	−11,357	−10,103	−8,741	−7,740	−6,572
Accumulated other comprehensive loss	−943	−1,038	−867	−727	−406
Equity attributable to IQVIA Holdings Inc.s stockholders	6,503	6,067	—	—	6,042
Noncontrolling interests	127	0	—	—	0
Total stockholders equity	6,630	6,067	6,112	5,765	6,042
Total liabilities and stockholders equity	29,944	26,899	26,681	25,337	24,689

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of debt issuance costs and discount	23	21	18	15	17
Stock-based compensation	247	206	217	194	170
Earnings from unconsolidated affiliates	−22	−5	0	12	−6
Gain on investments, net	−44	−22	−20	27	−16
Benefit from deferred income taxes	−180	−129	−269	−115	−138
Accounts receivable and unbilled services	60	182	−388	−421	−138
Prepaid expenses and other assets	218	7	34	7	−15
Accounts payable and accrued expenses	−96	115	267	427	244
Unearned income	242	9	−29	31	591
Income taxes payable and other liabilities	−299	−155	−164	−128	−2
Net cash provided by operating activities	2,654	2,716	2,149	2,260	2,942
Acquisition of property, equipment and software	−603	−602	−649	−674	−640
Acquisition of businesses, net of cash acquired	−1,714	−735	−876	−1,315	−1,458
Sales (purchases) of marketable securities, net	2	0	−6	−5	−10
Investments in unconsolidated affiliates, net of payments received	−44	−132	−39	−20	−5
Investments in debt and equity securities	−20	−2	−38	0	5
Proceeds from Sale of Property, Plant, and Equipment	75	25	0	0	—
Other	−1	2	5	8	5
Net cash used in investing activities	−2,305	−1,444	−1,603	−2,006	−2,103
Proceeds from issuance of debt	6,465	0	4,000	1,250	1,951
Payment of debt issuance costs	−42	−1	−50	−5	−40
Repayment of debt and principal payments on finance leases	−5,193	−172	−2,873	−634	−2,091
Proceeds from revolving credit facility	3,375	1,685	2,384	2,350	810
Repayment of revolving credit facility	−3,400	−960	−2,709	−2,025	−600
Payments related to employee stock incentive plans, net	−67	−64	−61	−71	−59
Repurchase of common stock	−1,244	−1,350	−992	−1,168	−406
Contingent consideration and deferred purchase price payments	−33	−16	−81	−26	−42
Other	−11	0	0	—	—
Net cash used in financing activities	−150	−878	−382	−329	−1,235
Effect of foreign currency exchange rate changes on cash	79	−68	−4	−75	−52
Increase in cash and cash equivalents	278	326	160	−150	−448

Filings

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