IQVNYSEServices-Commercial Physical & Biological ResearchFiscal year ends December 31
IQVIA HOLDINGS INC.
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 28, 2026
$265.88−1.02 (-0.38%)
Close on Oct 19, 2026
- Market cap
- $45.15B
- P/E (TTM)
- 32.9
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
33.3%−0.7 pts over 5 years
Operating margin
13.4%+6.9 pts over 5 years
Net margin
8.3%+5.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +5.9% | +4.2% | +7.5% | +11.0% | |
| Gross profit | +1.0% | +2.6% | +7.1% | +6.0% | |
| Operating income | -0.9% | +6.6% | +24.4% | +12.9% | |
| Net income | -0.9% | +7.6% | +37.3% | +13.4% | |
| EPS, diluted | +4.7% | +11.1% | +40.5% | +9.8% | |
| Free cash flow | -3.0% | +8.9% | +8.8% | +17.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 1.8% | 4.6% | 21.6% | |
| Return on assets | 0.6% | 1.2% | 4.8% | |
| Current ratio | 1.23 | 1.12 | 0.75 | |
| Debt to equity | 0.83 | 2.09 | 2.42 | |
| Net debt to EBITDA | 6.94× | 5.31× | 4.13× | |
| Interest coverage | 4.0× | 1.8× | 3.0× | |
| Capex to revenue | 2.4% | 5.4% | 3.7% | |
| Diluted shares | 152M | 195M | 174M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Iqvia generated $12.72B from operations and spent $8.33B on capital expenditure, dividends and share buybacks. 38% of that went back into the business.
Generated
$12.72B
Used
$8.33B
Capital expenditure$3.17B38%Dividends$00%Share buybacks$5.16B62%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.3%
×Asset turnover0.57×
×Equity multiplier4.52×
=Return on equity, FY202521.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 8.3% | 0.57× | 4.52× | 21.6% |
| FY2024 | 8.9% | 0.58× | 4.40× | 22.5% |
| FY2023 | 9.1% | 0.58× | 4.38× | 22.9% |
| FY2022 | 7.6% | 0.58× | 4.24× | 18.5% |
| FY2021 | 7.0% | 0.56× | 4.09× | 16.0% |
| FY2020 | 2.5% | 0.48× | 3.98× | 4.6% |
| FY2019 | 1.7% | 0.48× | 3.60× | 3.0% |
| FY2018 | 2.5% | 0.46× | 3.09× | 3.5% |
| FY2017 | 13.2% | 0.44× | 2.65× | 15.4% |
| FY2016 | 1.1% | 0.54× | 3.11× | 1.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$1.36B
- Cash generatingOperating cash flow above zero$2.65B
- Return on assets improvedROA up on the prior year5.1% → 5.1%
- Earnings backed by cashOperating cash flow above net income$2.65B vs $1.36B
- Less leverageLong-term debt to assets fell47.7% → 46.4%
- Better liquidityCurrent ratio rose0.84 → 0.75
- No dilutionShare count did not rise183M → 174M
- Gross margin improvedGross margin up on the prior year34.89% → 33.29%
- More efficientAsset turnover rose0.58 → 0.61