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IQVIA Holdings Inc. provides clinical research services, commercial insights, and healthcare intelligence to the life sciences and healthcare industries in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions. The Technology & Analytics Solutions segment offers a range of cloud-based applications and associated implementation services; real world solutions that enable life sciences and provider customers to generate and disseminate evidence, which informs health care decision making and improves patients' outcomes; and strategic and implementation consulting services, such as advanced analytics and commercial processes outsourcing services. This segment also provides country level performance metrics related to sales of pharmaceutical products, prescribing trends, medical treatment, and promotional activity across various channels, including retail, hospital, and mail order; and measurement of sales or prescribing activity at the regional, zip code, and individual prescriber level. The Research & Development Solutions segment offers project management and clinical monitoring; clinical trial support; strategic planning and design services; and patient and site centric solutions, as well as central laboratory, genomic, bioanalytical, ADME, discovery, vaccine and biomarker laboratory services. The Contract Sales & Medical Solutions segment provides health care provider and patient engagement services, and scientific strategy and medical services. It serves pharmaceutical, biotechnology, device and diagnostic, and consumer health companies. The company was formerly known as Quintiles IMS Holdings, Inc. and changed its name to IQVIA Holdings Inc. in November 2017. IQVIA Holdings Inc. is based in Durham, North Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $16.3B | $3.5B | $1.4B | $2.1B | 20.9% | 5.9% | -0.9% |
| 2024 | $15.4B | $3.5B | $1.4B | $2.1B | 22.6% | 2.8% | 1.1% |
| 2023 | $15.0B | $3.3B | $1.4B | $1.5B | 22.2% | 4.0% | 24.5% |
| 2022 | $14.4B | $2.9B | $1.1B | $1.6B | 18.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 14,410 | 14,984 | 15,405 | 16,310 |
| Operating Revenue | - | 14,410 | 14,984 | 15,405 | 16,310 |
| Cost Of Revenue | - | 9,382 | 9,745 | 10,030 | 10,880 |
| Gross Profit | - | 5,028 | 5,239 | 5,375 | 5,430 |
| Operating Expense | - | 3,201 | 3,178 | 3,106 | 3,143 |
| Selling General And Administration | - | 2,071 | 2,053 | 1,992 | 1,999 |
| Total Expenses | - | 12,583 | 12,923 | 13,136 | 14,023 |
| Operating Income | - | 1,827 | 2,061 | 2,269 | 2,287 |
| Total Operating Income As Reported | - | 1,799 | 1,977 | 2,202 | 2,182 |
| EBITDA | - | 2,909 | 3,256 | 3,453 | 3,464 |
| Normalized EBITDA | - | 2,937 | 3,346 | 3,520 | 3,575 |
| EBIT | - | 1,779 | 2,131 | 2,339 | 2,320 |
| Interest Income | - | 13 | 36 | 47 | 45 |
| Interest Expense | - | 416 | 672 | 670 | 729 |
| Net Interest Income | - | -403 | -636 | -623 | -684 |
| Other Non Operating Income Expenses | - | -33 | 124 | 90 | 99 |
| Other Income Expense | - | -61 | 34 | 23 | -12 |
| Interest Income Non Operating | - | 13 | 36 | 47 | 45 |
| Interest Expense Non Operating | - | 416 | 672 | 670 | 729 |
| Net Non Operating Interest Income Expense | - | -403 | -636 | -623 | -684 |
| Pretax Income | - | 1,363 | 1,459 | 1,669 | 1,591 |
| Tax Provision | - | 260 | 101 | 301 | 252 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -5.35 | -6.21 | -12.06 | -17.54 |
| Net Income Continuous Operations | - | 1,091 | 1,358 | 1,373 | 1,361 |
| Net Income From Continuing And Discontinued Operation | - | 1,091 | 1,358 | 1,373 | 1,360 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,091 | 1,358 | 1,373 | 1,360 |
| Net Income | - | 1,091 | 1,358 | 1,373 | 1,360 |
| Net Income Common Stockholders | - | 1,091 | 1,358 | 1,373 | 1,360 |
| Net Income Including Noncontrolling Interests | - | 1,091 | 1,358 | 1,373 | 1,361 |
| Normalized Income | - | 1,113.65 | 1,441.79 | 1,427.94 | 1,453.46 |
| Diluted NI Availto Com Stockholders | - | 1,091 | 1,358 | 1,373 | 1,360 |
| Basic Average Shares | - | 187.60 | 183.80 | 181.30 | 171.90 |
| Diluted Average Shares | - | 190.60 | 186.30 | 183.40 | 173.50 |
| Reconciled Depreciation | - | 1,130 | 1,125 | 1,114 | 1,144 |
| Reconciled Cost Of Revenue | - | 9,382 | 9,745 | 10,030 | 10,880 |
| Total Unusual Items | - | -28 | -90 | -67 | -111 |
| Total Unusual Items Excluding Goodwill | - | -28 | -90 | -67 | -111 |
| Minority Interests | - | 0 | 0 | 0 | -1 |
| Earnings From Equity Interest Net Of Tax | - | -12 | 0 | 5 | 22 |
| Special Income Charges | - | -28 | -90 | -67 | -111 |
| Other Special Charges | 26 | - | 6 | - | 6 |
| Restructuring And Mergern Acquisition | - | 28 | 84 | 67 | 105 |
| Depreciation Amortization Depletion Income Statement | - | 1,130 | 1,125 | 1,114 | 1,144 |
| Depreciation And Amortization In Income Statement | - | 1,130 | 1,125 | 1,114 | 1,144 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| IQVIA Holdings Inc.this co. | IQV | $31.2B | 22.93 | 4.80 | 20.9% | 13.04 |
| Waters Corporation | WAT | $37.0B | 57.52 | 14.43 | 25.1% | 36.74 |
| Zoetis Inc. | ZTS | $33.3B | 12.47 | 10.01 | 80.2% | 9.90 |
| Centene Corporation | CNC | $31.0B | -4.64 | 1.55 | -33.4% | -6.54 |
| GE HealthCare Technologies Inc. | GEHC | $29.0B | 13.93 |
| - |
| - |
| - |
| - |
| - |
| 2.80 |
| 20.1% |
| 9.24 |
| Biogen Inc. | BIIB | $29.0B | 22.43 | 1.59 | 7.1% | 12.51 |
| ResMed Inc. | RMD | $28.2B | 20.12 | 4.72 | 23.5% | 14.47 |
| DexCom, Inc. | DXCM | $28.0B | 33.49 | 10.20 | 30.5% | 20.97 |
| Mettler-Toledo International Inc. | MTD | $23.9B | 27.44 | - | -3676.8% | 20.87 |
| Peer Median | - | 21.28 | 4.72 | 21.8% | 13.49 | |