I

IQVIA HOLDINGS INC.

IQV · CIK 0001478242

15 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$16.31B5.9%
FY2025
Net income (FY)
$1.36B0.9%
FY2025
Free cash flow (FY)
$2.05B3.0%
FY2025
Diluted EPS (FY)
$7.844.7%
FY2025
The story, charted

The shape of the business

FY2011–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$5B$10B$15BFY2011 · Revenue $4.33B · Net income $241.8M · 0001193125-14-050071 · filed 2014-02-13FY11Revenue $4.33BNet income $241.8M0001193125-14-050071 · filed 2014-02-13FY2012 · Revenue $4.87B · Net income $177.5M · 0001193125-15-045845 · filed 2015-02-12FY12Revenue $4.87BNet income $177.5M0001193125-15-045845 · filed 2015-02-12FY2013 · Revenue $5.10B · Net income $226.6M · 0001564590-16-012629 · filed 2016-02-11FY13Revenue $5.10BNet income $226.6M0001564590-16-012629 · filed 2016-02-11FY2014 · Revenue $5.46B · Net income $357.0M · 0001193125-17-046709 · filed 2017-02-16FY14Revenue $5.46BNet income $357.0M0001193125-17-046709 · filed 2017-02-16FY2015 · Revenue $5.74B · Net income $387.0M · 0001564590-18-002340 · filed 2018-02-16FY15Revenue $5.74BNet income $387.0M0001564590-18-002340 · filed 2018-02-16FY2016 · Revenue $6.82B · Net income $72.0M · 0001564590-19-003180 · filed 2019-02-19FY16Revenue $6.82BNet income $72.0M0001564590-19-003180 · filed 2019-02-19FY2017 · Revenue $9.70B · Net income $1.28B · 0001564590-20-004901 · filed 2020-02-18FY17Revenue $9.70BNet income $1.28B0001564590-20-004901 · filed 2020-02-18FY2018 · Revenue $10.41B · Net income $259.0M · 0001478242-21-000020 · filed 2021-02-12FY18Revenue $10.41BNet income $259.0M0001478242-21-000020 · filed 2021-02-12FY2019 · Revenue $11.09B · Net income $191.0M · 0001478242-22-000041 · filed 2022-02-16FY19Revenue $11.09BNet income $191.0M0001478242-22-000041 · filed 2022-02-16FY2020 · Revenue $11.36B · Net income $279.0M · 0001478242-23-000044 · filed 2023-02-15FY20Revenue $11.36BNet income $279.0M0001478242-23-000044 · filed 2023-02-15FY2021 · Revenue $13.87B · Net income $966.0M · 0001478242-24-000038 · filed 2024-02-15FY21Revenue $13.87BNet income $966.0M0001478242-24-000038 · filed 2024-02-15FY2022 · Revenue $14.41B · Net income $1.09B · 0001478242-25-000045 · filed 2025-02-13FY22Revenue $14.41BNet income $1.09B0001478242-25-000045 · filed 2025-02-13FY2023 · Revenue $14.98B · Net income $1.36B · 0001628280-26-008322 · filed 2026-02-17FY23Revenue $14.98BNet income $1.36B0001628280-26-008322 · filed 2026-02-17FY2024 · Revenue $15.40B · Net income $1.37B · 0001628280-26-008322 · filed 2026-02-17FY24Revenue $15.40BNet income $1.37B0001628280-26-008322 · filed 2026-02-17FY2025 · Revenue $16.31B · Net income $1.36B · 0001628280-26-008322 · filed 2026-02-17FY25Revenue $16.31BNet income $1.36B0001628280-26-008322 · filed 2026-02-17FY25Revenue $16.31BNet income $1.36B0001628280-26-008322 · filed 2026-02-17FY11FY13FY15FY17FY19FY21FY23FY25

revenue 3.8× since FY2011 · net margin 5.6% → 8.3%

MarginsNet marginFCF margin
0%5%10%15%FY2011 · Net margin 5.6% · FCF margin 2.0%FY11Net margin 5.6%FCF margin 2.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 3.6% · FCF margin 5.4%FY12Net margin 3.6%FCF margin 5.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 4.4% · FCF margin 6.0%FY13Net margin 4.4%FCF margin 6.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 6.5% · FCF margin 6.4%FY14Net margin 6.5%FCF margin 6.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 6.7% · FCF margin 6.9%FY15Net margin 6.7%FCF margin 6.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 1.1% · FCF margin 10.2%FY16Net margin 1.1%FCF margin 10.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 13.2% · FCF margin 6.2%FY17Net margin 13.2%FCF margin 6.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 2.5% · FCF margin 7.6%FY18Net margin 2.5%FCF margin 7.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 1.7% · FCF margin 7.5%FY19Net margin 1.7%FCF margin 7.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 2.5% · FCF margin 11.8%FY20Net margin 2.5%FCF margin 11.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 7.0% · FCF margin 16.6%FY21Net margin 7.0%FCF margin 16.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 7.6% · FCF margin 11.0%FY22Net margin 7.6%FCF margin 11.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 9.1% · FCF margin 10.0%FY23Net margin 9.1%FCF margin 10.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 8.9% · FCF margin 13.7%FY24Net margin 8.9%FCF margin 13.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 8.3% · FCF margin 12.6%FY25Net margin 8.3%FCF margin 12.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 8.3%FCF margin 12.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’13’16’19’22’25

FY2025: net 8.3% · free cash flow 12.6% of revenue

Cash engineOperating cash flowFree cash flow
$0$1B$2B$3BFY2011 · OCF $161.0M · FCF $85.3M · 0001193125-14-050071 · filed 2014-02-13FY11OCF $161.0MFCF $85.3M0001193125-14-050071 · filed 2014-02-13FY2012 · OCF $335.7M · FCF $264.4M · 0001193125-15-045845 · filed 2015-02-12FY12OCF $335.7MFCF $264.4M0001193125-15-045845 · filed 2015-02-12FY2013 · OCF $393.4M · FCF $305.0M · 0001564590-16-012629 · filed 2016-02-11FY13OCF $393.4MFCF $305.0M0001564590-16-012629 · filed 2016-02-11FY2014 · OCF $433.0M · FCF $350.0M · 0001193125-17-046709 · filed 2017-02-16FY14OCF $433.0MFCF $350.0M0001193125-17-046709 · filed 2017-02-16FY2015 · OCF $476.0M · FCF $398.0M · 0001564590-18-002340 · filed 2018-02-16FY15OCF $476.0MFCF $398.0M0001564590-18-002340 · filed 2018-02-16FY2016 · OCF $860.0M · FCF $696.0M · 0001564590-19-003180 · filed 2019-02-19FY16OCF $860.0MFCF $696.0M0001564590-19-003180 · filed 2019-02-19FY2017 · OCF $970.0M · FCF $601.0M · 0001564590-20-004901 · filed 2020-02-18FY17OCF $970.0MFCF $601.0M0001564590-20-004901 · filed 2020-02-18FY2018 · OCF $1.25B · FCF $795.0M · 0001478242-21-000020 · filed 2021-02-12FY18OCF $1.25BFCF $795.0M0001478242-21-000020 · filed 2021-02-12FY2019 · OCF $1.42B · FCF $835.0M · 0001478242-22-000041 · filed 2022-02-16FY19OCF $1.42BFCF $835.0M0001478242-22-000041 · filed 2022-02-16FY2020 · OCF $1.96B · FCF $1.34B · 0001478242-23-000044 · filed 2023-02-15FY20OCF $1.96BFCF $1.34B0001478242-23-000044 · filed 2023-02-15FY2021 · OCF $2.94B · FCF $2.30B · 0001478242-24-000038 · filed 2024-02-15FY21OCF $2.94BFCF $2.30B0001478242-24-000038 · filed 2024-02-15FY2022 · OCF $2.26B · FCF $1.59B · 0001478242-25-000045 · filed 2025-02-13FY22OCF $2.26BFCF $1.59B0001478242-25-000045 · filed 2025-02-13FY2023 · OCF $2.15B · FCF $1.50B · 0001628280-26-008322 · filed 2026-02-17FY23OCF $2.15BFCF $1.50B0001628280-26-008322 · filed 2026-02-17FY2024 · OCF $2.72B · FCF $2.11B · 0001628280-26-008322 · filed 2026-02-17FY24OCF $2.72BFCF $2.11B0001628280-26-008322 · filed 2026-02-17FY2025 · OCF $2.65B · FCF $2.05B · 0001628280-26-008322 · filed 2026-02-17FY25OCF $2.65BFCF $2.05B0001628280-26-008322 · filed 2026-02-17FY25OCF $2.65BFCF $2.05B0001628280-26-008322 · filed 2026-02-17’13’16’19’22’25

FY2025: $2.65B operating cash − $603.0M capex = $2.05B free cash flow

Returns on capitalReturn on equityReturn on assets
-50%0%FY2012 · ROE -13.1% · ROA 7.1%FY12ROE -13.1%ROA 7.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE -34.0% · ROA 7.4%FY13ROE -34.0%ROA 7.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE -50.7% · ROA 10.8%FY14ROE -50.7%ROA 10.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE -68.6% · ROA 9.9%FY15ROE -68.6%ROA 9.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 0.8% · ROA 0.3%FY16ROE 0.8%ROA 0.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 16.0% · ROA 5.6%FY17ROE 16.0%ROA 5.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 3.9% · ROA 1.1%FY18ROE 3.9%ROA 1.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 3.2% · ROA 0.8%FY19ROE 3.2%ROA 0.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 4.6% · ROA 1.1%FY20ROE 4.6%ROA 1.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 16.0% · ROA 3.9%FY21ROE 16.0%ROA 3.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 18.9% · ROA 4.3%FY22ROE 18.9%ROA 4.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 22.2% · ROA 5.1%FY23ROE 22.2%ROA 5.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 22.6% · ROA 5.1%FY24ROE 22.6%ROA 5.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 20.9% · ROA 4.5%FY25ROE 20.9%ROA 4.5%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 20.9%ROA 4.5%derived: net income ÷ equity · derived: net income ÷ assets’13’16’19’22’25

return on equity -13% (FY2012) → 21% (FY2025) · on assets 4.5%

Balance sheetLiabilitiesEquity
$0$10B$20B$30BFY2012 · Liabilities $3.86B · Equity −$1.36BFY12Liabilities $3.86BEquity −$1.36B0001193125-14-050071 · filed 2014-02-13FY2013 · Liabilities $3.73B · Equity −$667.4MFY13Liabilities $3.73BEquity −$667.4M0001193125-15-045845 · filed 2015-02-12FY2014 · Liabilities $4.00B · Equity −$704.1MFY14Liabilities $4.00BEquity −$704.1M0001564590-16-012629 · filed 2016-02-11FY2015 · Liabilities $4.26B · Equity −$564.0MFY15Liabilities $4.26BEquity −$564.0M0001193125-17-046709 · filed 2017-02-16FY2016 · Liabilities $12.35B · Equity $8.63BFY16Liabilities $12.35BEquity $8.63B0001564590-18-002340 · filed 2018-02-16FY2017 · Liabilities $14.61B · Equity $8.00BFY17Liabilities $14.61BEquity $8.00B0001564590-19-003180 · filed 2019-02-19FY2018 · Liabilities $15.60B · Equity $6.71BFY18Liabilities $15.60BEquity $6.71B0001564590-20-004901 · filed 2020-02-18FY2019 · Liabilities $16.99B · Equity $6.00BFY19Liabilities $16.99BEquity $6.00B0001478242-21-000020 · filed 2021-02-12FY2020 · Liabilities $18.28B · Equity $6.00BFY20Liabilities $18.28BEquity $6.00B0001478242-22-000041 · filed 2022-02-16FY2021 · Liabilities $18.65B · Equity $6.04BFY21Liabilities $18.65BEquity $6.04B0001478242-23-000044 · filed 2023-02-15 · 0001478242-22-000041 · filed 2022-02-16FY2022 · Liabilities $19.57B · Equity $5.76BFY22Liabilities $19.57BEquity $5.76B0001478242-24-000038 · filed 2024-02-15FY2023 · Liabilities $20.57B · Equity $6.11BFY23Liabilities $20.57BEquity $6.11B0001478242-25-000045 · filed 2025-02-13FY2024 · Liabilities $20.83B · Equity $6.07BFY24Liabilities $20.83BEquity $6.07B0001628280-26-008322 · filed 2026-02-17FY2025 · Liabilities $23.31B · Equity $6.50BFY25Liabilities $23.31BEquity $6.50B0001628280-26-008322 · filed 2026-02-17FY25Liabilities $23.31BEquity $6.50B0001628280-26-008322 · filed 2026-02-17’13’16’19’22’25

FY2025: $29.94B assets · $23.31B liabilities · $6.50B equity

The receipts