IQV

MKT CAP:$28B

IQVIA Holdings Inc.

Market Cap

$28B

Healthcare·Medical - Diagnostics & Research·🇺🇸 United States·NYSE

Healthcare·Medical·🇺🇸·NYSE

Stock Price

$162.42-$62.95 (-27.93%)

Apr 24, 2026

Company Details

IQVIA Holdings Inc. provides advanced analytics, technology solutions, and clinical research services to the life sciences industry in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Technology & Anal...

CEO

Ari Bousbib

IPO Date

May 9, 2013

Website

www.iqvia.com

Key Metrics TTM

Revenue

$16.3B

+5.9% YoY

Net Income

$1.4B

EPS (Diluted)

$7.86

Free Cash Flow

$2.5B

Revenue / Share

$94.88

Gross Margin

26.3%

Operating Margin

14.0%

Net Margin

8.3%

FCF Margin

15.2%

P/S

1.7x

P/E

20.3x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 17, 2026

$16.3B+5.9%EPS $7.84

Q4 2025

Feb 17, 2026

$4.4B+10.3%EPS $2.99

Q3 2025

Oct 28, 2025

$4.1B+5.2%EPS $1.93

Q2 2025

Jul 22, 2025

$4.0B+5.3%EPS $1.54

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$3.6B	$1.2B	$495M
Q2 22	$3.6B	$951M	$468M
Q3 22	$3.6B	$1.2B	$472M
Q4 22	$3.7B	$1.3B	$379M
Q1 23	$3.7B	$1.3B	$471M
Q2 23	$3.7B	$1.3B	$524M
Q3 23	$3.7B	$1.3B	$481M
Q4 23	$3.9B	$1.4B	$501M
Q1 24	$3.7B	$1.3B	$506M
Q2 24	$3.8B	$1.1B	$548M
Q3 24	$3.9B	$1.4B	$550M
Q4 24	$4.0B	$1.4B	$626M
Q1 25	$3.8B	$1.3B	$496M
Q2 25	$4.0B	$1.3B	$506M
Q3 25	$4.1B	$1.4B	$553M
Q4 25	$4.4B	$292M	$732M

Valuation

Quarter	P/S	P/E
Q1 22	3.1x	39.9x
Q2 22	2.9x	35.1x
Q3 22	2.4x	29.3x
Q4 22	2.7x	35.5x
Q1 23	2.5x	34.9x
Q2 23	2.8x	36.9x
Q3 23	2.4x	31.6x
Q4 23	2.7x	30.0x
Q1 24	3.0x	33.4x
Q2 24	2.5x	26.7x
Q3 24	2.8x	30.2x
Q4 24	2.3x	25.7x
Q1 25	2.0x	22.7x
Q2 25	1.7x	21.9x
Q3 25	1.9x	24.0x
Q4 25	2.4x	28.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$508M	$331M
Q2 22	$329M	$168M
Q3 22	$863M	$698M
Q4 22	$560M	$389M
Q1 23	$417M	$253M
Q2 23	$402M	$242M
Q3 23	$583M	$437M
Q4 23	$747M	$568M
Q1 24	$522M	$377M
Q2 24	$588M	$445M
Q3 24	$721M	$571M
Q4 24	$885M	$721M
Q1 25	$568M	$426M
Q2 25	$443M	$292M
Q3 25	$908M	$1.2B
Q4 25	$735M	$561M

Capital Expenditures

Quarter	CapEx
Q1 22	$177M
Q2 22	$161M
Q3 22	$165M
Q4 22	$171M
Q1 23	$164M
Q2 23	$160M
Q3 23	$146M
Q4 23	$179M
Q1 24	$145M
Q2 24	$143M
Q3 24	$150M
Q4 24	$164M
Q1 25	$142M
Q2 25	$151M
Q3 25	$293M
Q4 25	$174M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+3.4%	-2.0%
Q3 22	+5.0%	+0.0%
Q4 22	+2.8%	+6.1%
Q1 23	+2.4%	+3.5%
Q2 23	+5.0%	+3.9%
Q3 23	+4.9%	+5.3%
Q4 23	+3.5%	+0.2%
Q1 24	+2.3%	+1.6%
Q2 24	+2.3%	+1.9%
Q3 24	+4.3%	+2.8%
Q4 24	+2.3%	-1.0%
Q1 25	+2.5%	+3.2%
Q2 25	+5.3%	+7.5%
Q3 25	+5.2%	+6.0%
Q4 25	+10.3%	+9.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$30M	0.8%
Q2 22	$45M	1.3%
Q3 22	$61M	1.7%
Q4 22	$58M	1.6%
Q1 23	$75M	2.1%
Q2 23	$50M	1.3%
Q3 23	$47M	1.3%
Q4 23	$45M	1.2%
Q1 24	$56M	1.5%
Q2 24	$48M	1.3%
Q3 24	$54M	1.4%
Q4 24	$48M	1.2%
Q1 25	$72M	1.9%
Q2 25	$60M	1.5%
Q3 25	$55M	1.3%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 22	$488M
Q2 22	$483M
Q3 22	$517M
Q4 22	$583M
Q1 23	$513M
Q2 23	$482M
Q3 23	$502M
Q4 23	$556M
Q1 24	$508M
Q2 24	$509M
Q3 24	$522M
Q4 24	$453M
Q1 25	$508M
Q2 25	$509M
Q3 25	$514M
Q4 25	$468M

Revenue Segments

Quarter	Contract Sales And Medical Solutions	Research And Development Solutions	Technology And Analytics Solutions
Q1 22	$195M	$1.9B	$1.4B
Q2 22	$183M	$1.9B	$1.4B
Q3 22	$183M	$2.0B	$1.4B
Q4 22	$182M	$2.1B	$1.5B
Q1 23	$182M	$2.0B	$1.4B
Q2 23	$176M	$2.1B	$1.5B
Q3 23	$183M	$2.1B	$1.4B
Q4 23	$186M	$2.2B	$1.5B
Q1 24	$189M	$2.1B	$1.5B
Q2 24	$172M	$2.1B	$1.5B
Q3 24	$180M	$2.2B	$1.6B
Q4 24	$177M	$2.1B	$1.7B
Q1 25	$181M	$2.1B	$1.5B
Q3 25	$209M	$2.3B	$1.6B

Revenue by Geography

Quarter	Americas	Asia Pacific	Emea
Q3 23	$1.9B	$791M	$1.1B
Q1 24	$1.8B	$778M	$1.2B
Q2 24	$1.9B	$773M	$1.2B
Q3 24	$1.8B	$771M	$1.3B
Q4 24	$1.9B	$807M	$1.3B
Q1 25	$1.8B	$798M	$1.2B
Q3 25	$1.9B	$870M	$1.3B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.4B	$106M	$1.5B
Q2 22	$1.4B	$90M	$1.5B
Q3 22	$1.3B	$87M	$1.4B
Q4 22	$1.2B	$93M	$1.3B
Q1 23	$1.5B	$104M	$1.6B
Q2 23	$1.4B	$110M	$1.5B
Q3 23	$1.2B	$108M	$1.3B
Q4 23	$1.4B	$120M	$1.5B
Q1 24	$1.4B	$131M	$1.6B
Q2 24	$1.5B	$133M	$1.7B
Q3 24	$1.6B	$140M	$1.7B
Q4 24	$1.7B	$141M	$1.8B
Q1 25	$1.7B	$136M	$1.9B
Q2 25	$2.0B	$149M	$2.2B
Q3 25	$1.8B	$158M	$2.0B
Q4 25	$2.0B	$161M	$2.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	193M	-0.7%	—
Q2 22	191M	-1.2%	-1.9%
Q3 22	189M	-0.9%	-3.0%
Q4 22	189M	-0.4%	-3.2%
Q1 23	189M	0.0%	-2.5%
Q2 23	187M	-1.0%	-2.3%
Q3 23	186M	-0.6%	-2.1%
Q4 23	184M	-0.6%	-2.3%
Q1 24	184M	0.0%	-2.3%
Q2 24	184M	0.0%	-1.3%
Q3 24	184M	-0.1%	-0.7%
Q4 24	181M	-1.8%	-1.9%
Q1 25	177M	-1.9%	-3.7%
Q2 25	173M	-2.4%	-6.0%
Q3 25	172M	-0.9%	-6.8%
Q4 25	172M	+0.1%	-4.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$45.2K	79K
Q2 22	$45.0K	79K
Q3 22	$45.1K	79K
Q4 22	$43.5K	86K
Q1 23	$42.5K	86K
Q2 23	$43.3K	86K
Q3 23	$43.4K	86K
Q4 23	$44.5K	87K
Q1 24	$43.0K	87K
Q2 24	$43.8K	87K
Q3 24	$44.8K	87K
Q4 24	$45.0K	88K
Q1 25	$43.5K	88K
Q2 25	$45.6K	88K
Q3 25	$46.6K	88K
Q4 25	$46.9K	93K

Revenue / Employee