IQVIA HOLDINGS INC.IQV
IQVIA HOLDINGS INC. Segments Disclosure
Segments
The following table presents the Company’s operations by reportable segment. The Company is managed through three reportable segments, Technology & Analytics Solutions, Research & Development Solutions and Contract Sales & Medical Solutions. Technology & Analytics Solutions provides mission critical information, technology solutions and real world insights and services to the Company’s life science clients. Research & Development Solutions, which primarily serves biopharmaceutical customers, provides outsourced clinical research and clinical trial related services. Contract Sales & Medical Solutions provides health care provider (including contract sales) and patient engagement services to both biopharmaceutical customers and the broader healthcare market.
Certain costs are not allocated to the Company's segments and are reported as general corporate and unallocated expenses. These costs primarily consist of stock-based compensation and expenses related to integration activities and acquisitions, as well as certain general corporate and unallocated expenses. The Company also does not allocate restructuring costs, depreciation and amortization or impairment charges, if any, to its segments. Asset information by segment is not presented, as this measure is not used by the chief executive officer, who is the chief operating decision maker ("CODM"), to assess the Company’s performance.
For all segments, the CODM uses segment revenue and segment profit in the annual budgeting and forecasting process. The CODM considers budget-to-actual variances on a monthly and quarterly basis for both segment revenue and profit when making decisions about allocating operating and capital resources to the segments. The CODM also uses segment revenue and profit to assess the performance for each segment by comparing the results of each segment with one another and in determining the compensation of certain employees.
Effective January 1, 2026, the Company will be updating its segment reporting to align with industry evolution, its updated operating model, and how internal reporting will be provided to the CODM. As a result, the Contract Sales & Medical Solutions segment, which has become more closely related operationally to the Technology & Analytics Solutions segment commercial offerings, will be incorporated into the Technology & Analytics Solutions segment, which is renamed Commercial Solutions. Additionally, Real-World Late Phase and certain other Real-World offerings that have become more closely related operationally to the clinical research business, will be moved from the Technology & Analytics Solutions segment to the Research & Development Solutions segment. The Company will reflect the recast of segment information on this basis beginning with its Form 10-Q for the three months ended March 31, 2026.
The Company’s reportable segment information is presented below:
| Year Ended December 31, | ||||||||||||||||||||
| (in millions) | 2025 | 2024 | 2023 | |||||||||||||||||
| Revenues | ||||||||||||||||||||
| Technology & Analytics Solutions | $ | 6,626 | $ | 6,160 | $ | 5,862 | ||||||||||||||
| Research & Development Solutions | 8,896 | 8,527 | 8,395 | |||||||||||||||||
| Contract Sales & Medical Solutions | 788 | 718 | 727 | |||||||||||||||||
| Total revenues | 16,310 | 15,405 | 14,984 | |||||||||||||||||
| Cost of revenues, exclusive of depreciation and amortization | ||||||||||||||||||||
| Technology & Analytics Solutions | 4,076 | 3,721 | 3,496 | |||||||||||||||||
| Research & Development Solutions | 6,124 | 5,698 | 5,629 | |||||||||||||||||
| Contract Sales & Medical Solutions | 680 | 611 | 620 | |||||||||||||||||
| Total cost of revenues, exclusive of depreciation and amortization | 10,880 | 10,030 | 9,745 | |||||||||||||||||
| Selling, general and administrative expenses | ||||||||||||||||||||
| Technology & Analytics Solutions | 955 | 917 | 876 | |||||||||||||||||
| Research & Development Solutions | 899 | 881 | 851 | |||||||||||||||||
| Contract Sales & Medical Solutions | 60 | 60 | 58 | |||||||||||||||||
| Total selling, general and administrative expenses reportable segments | 1,914 | 1,858 | 1,785 | |||||||||||||||||
| Segment profit | ||||||||||||||||||||
| Technology & Analytics Solutions | 1,595 | 1,522 | 1,490 | |||||||||||||||||
| Research & Development Solutions | 1,873 | 1,948 | 1,915 | |||||||||||||||||
| Contract Sales & Medical Solutions | 48 | 47 | 49 | |||||||||||||||||
| Total segment profit | 3,516 | 3,517 | 3,454 | |||||||||||||||||
| General corporate and unallocated expenses | (85) | (134) | (268) | |||||||||||||||||
| Depreciation and amortization | (1,144) | (1,114) | (1,125) | |||||||||||||||||
| Restructuring costs | (105) | (67) | (84) | |||||||||||||||||
| Total income from operations | 2,182 | 2,202 | 1,977 | |||||||||||||||||
| Interest income | (45) | (47) | (36) | |||||||||||||||||
| Interest expense | 729 | 670 | 672 | |||||||||||||||||
| Loss on extinguishment of debt | 6 | — | 6 | |||||||||||||||||
| Other income, net | (99) | (90) | (124) | |||||||||||||||||
| Income before income taxes and equity in earnings of unconsolidated affiliates | $ | 1,591 | $ | 1,669 | $ | 1,459 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 17, 2026 | Showing above |
| 2024 | Feb 13, 2025 | |
| 2023 | Feb 15, 2024 | |
| 2022 | Feb 15, 2023 | |
| 2021 | Feb 16, 2022 | |
| 2020 | Feb 12, 2021 | |
| 2019 | Feb 18, 2020 | |
| 2018 | Feb 19, 2019 | |
| 2017 | Feb 16, 2018 | |
| 2016 | Feb 16, 2017 | |
| 2015 | Feb 11, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.