Saturday 17 October 2026 Export IQV’s income statement to Excel — free account

IQVIA Holdings Inc.

IQVIA Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.3 billion, up 5.87% from fiscal 2024. In the quarter to June 2026, revenue grew 8.74%, EPS was flat, free cash flow grew 23.3% and total debt rose 3.29%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for ten consecutive years.

266.90 4.14 −1.53%

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Market cap: $44.6B
P/E: 32.8×
Fwd P/E: 22.3×
Dividend yield: —
F-score: 4/9
Altman Z: 2.05
Beneish M: −2.59
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 38.02

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	1	—	—	—	—	—	—	4	1	1	—

Insider Ownership 1.89%

Capital & Financial Ratios $m

Market Cap 44,610.00

Revenue 16,983.00

Net Income 1,379.00

Free Cash Flow 2,259.00

Net Debt 13,919.00

Current Ratio 0.71

Debt/Equity 2.54

P/E ratio 32.83

Fwd P/E 22.30

P/S ratio 2.61

P/B ratio 7.04

Past 5Y EPS Growth 40.54%

This Y EPS Growth 8.54%

Next Y EPS Growth 11.21%

Next Y revenue growth 6.77%

Next 5Y EPS Growth 10.65%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 45.30%

10-year low 10-year high

P/S against its own 10 years 58.13%

10-year low 10-year high

P/B against its own 10 years 81.11%

10-year low 10-year high

EV/Sales against its own 10 years 51.09%

10-year low 10-year high

EV/FCF against its own 10 years 32.95%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,496	1,843	2,141	2,080
Receivables	3,413	3,240	3,427	3,387
Inventory	—	—	—	—
Other	546	592	519	539
	5,596	5,829	6,249	6,226

	2023	2024	2025	Q'26
Payables	3,564	3,684	3,751	3,608
ST’ Debt	718	1,145	1,840	2,294
Other	2,093	1,972	2,607	2,738
	6,491	6,957	8,338	8,815

Compound Annual Growth %

	10y	5y	3y
Sales	11.01%	7.50%	4.21%
Cash Flow	18.75%	6.26%	5.50%
Earnings	13.39%	37.27%	7.62%
Book Value	0.00%	1.09%	4.77%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	4,151	4,368	—	—	—
’25	3,829	4,017	4,100	4,364	16,310
’24	3,737	3,814	3,896	3,958	15,405
’23	3,652	3,728	3,736	3,868	14,984
’22	3,568	3,541	3,562	3,739	14,410
’21	3,409	3,438	3,391	3,636	13,874
’20	2,754	2,521	2,786	3,298	11,359

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	618	558	—	—	—
’25	568	443	908	735	2,654
’24	522	588	721	885	2,716
’23	417	402	583	747	2,149
’22	508	329	863	560	2,260
’21	867	539	844	692	2,942
’20	163	472	574	750	1,959

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	491	360	—	—	—
’25	426	292	847	561	2,126
’24	377	470	571	721	2,139
’23	253	242	437	568	1,500
’22	331	168	698	389	1,586
’21	718	394	682	508	2,302
’20	22	330	417	574	1,343

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.61	1.53	—	—	—
’25	1.40	1.54	1.93	2.99	7.84
’24	1.56	1.97	1.55	2.42	7.49
’23	1.53	1.59	1.63	2.54	7.29
’22	1.68	1.34	1.49	1.20	5.72
’21	1.09	0.90	1.34	1.63	4.95
’20	0.42	(0.12)	0.52	0.61	1.43

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	55.01	74.80	91.57	107.79	81.79	170.00	165.75	167.42	187.62	134.65	Analyst estimates 2026–2028 Powerpack
	High	81.45	110.67	135.48	164.13	180.99	285.61	282.52	241.86	261.73	234.30
People
People	Employees	50,000	55,000	58,000	67,000	70,000	79,000	86,000	87,000	88,000	93,000
	Revenue/emp, $m	0.14	0.18	0.18	0.17	0.16	0.18	0.17	0.17	0.18	0.18
Income, $m
Income, $m	Revenue	6,815	9,702	10,412	11,088	11,359	13,874	14,410	14,984	15,405	16,310
	Gross margin, %	30.33	35.05	35.21	34.16	33.97	33.45	34.89	34.96	34.89	33.29
	EBT	416	294	328	352	373	1,128	1,363	1,459	1,669	1,591
	EBT margin, %	6.10	3.03	3.15	3.17	3.28	8.13	9.46	9.74	10.83	9.75
	Net income	87	1,296	284	227	308	971	1,091	1,358	1,373	1,361
	Depreciation	350	1,063	1,152	1,215	1,305	1,281	1,145	1,143	1,135	1,167
Per share, $
Per share, $	Revenue	45.71	44.55	51.11	56.83	59.38	72.49	76.81	81.52	84.97	94.88
	Earnings	0.58	6.01	1.27	0.98	1.46	5.05	5.82	7.39	7.57	7.91
	Cash flow	5.77	4.45	6.16	7.26	10.24	15.37	12.05	11.69	14.98	15.44
	Capex	(1.10)	(1.69)	(2.25)	(2.98)	(3.22)	(3.34)	(3.59)	(3.53)	(3.18)	(3.07)
	Free cash flow	4.67	2.76	3.90	4.28	7.02	12.03	8.45	8.16	11.80	12.37
	Book value	59.42	37.85	34.14	32.10	32.83	31.57	30.73	33.25	33.46	38.57
	Shares, m	149	218	204	195	191	191	188	184	181	172
Valuation, ×
Valuation, ×	P/E	44.99	15.78	91.47	157.66	122.72	55.87	35.09	31.09	25.92	28.43
	P/S	1.68	2.24	2.27	2.72	3.02	3.89	2.65	2.83	2.31	2.38
	P/B	1.29	2.64	3.40	4.81	5.46	8.94	6.63	6.93	5.87	5.84
	EV/Sales	2.56	3.19	3.24	3.69	3.95	4.66	3.45	3.64	3.10	3.21
	EV/FCF	25.05	51.49	42.43	48.97	33.44	28.08	31.33	36.35	22.33	24.61
Cash, $m
Cash, $m	Operating cash flow	860	970	1,254	1,417	1,959	2,942	2,260	2,149	2,716	2,654
	Capex	(164)	(369)	(459)	(582)	(616)	(640)	(674)	(649)	(577)	(528)
	Free cash flow	696	601	795	835	1,343	2,302	1,586	1,500	2,139	2,126
Balance, $m
Balance, $m	Working capital	632	398	340	181	532	(478)	(597)	(895)	(1,128)	(2,089)
	Total debt	7,200	10,225	11,007	11,645	12,533	12,125	12,747	13,673	13,983	15,724
	Net debt	5,962	9,220	10,069	10,746	10,631	10,648	11,438	12,177	12,140	13,583
	Shareholders’ equity	8,860	8,244	6,954	6,263	6,280	6,042	5,765	6,112	6,067	6,630
Returns, %
Returns, %	ROA	0.57	5.80	1.14	0.83	1.17	3.92	4.36	5.22	5.13	4.79
	ROIC	2.43	2.38	2.72	2.86	2.70	5.22	6.54	6.76	7.56	6.75
	ROE	1.69	14.93	3.41	2.89	4.45	15.68	18.48	22.87	22.55	21.42

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
NTRA Natera, Inc.	$58.4B	— (loss-making)	— (loss-making)	+37.71% (above 0%: growing)	n/m	−173.96% (below 0%: shrinking)	64.46%	(10.07%)	Compare
A Agilent Technologies, Inc.	$49.5B	34.0×	26.3×	+8.06% (above 0%: growing)	+8.47% (above 0%: growing)	+69.50% (above 0%: growing)	55.48%	23.64%	Compare
IQV IQVIA Holdings Inc.	$44.6B	32.8×	22.3×	+8.74% (above 0%: growing)	−0.65% (below 0%: shrinking)	+23.29% (above 0%: growing)	32.85%	11.58%
WAT Waters Corporation	$43.6B	109×	44.3×	+113.36% (above 0%: growing)	n/m	+750.00% (above 0%: growing)	44.62%	(5.23%)	Compare
IDXX IDEXX Laboratories, Inc.	$43.1B	39.1×	38.3×	+9.66% (above 0%: growing)	+17.21% (above 0%: growing)	+111.44% (above 0%: growing)	64.04%	34.98%	Compare
ILMN Illumina, Inc.	$40.5B	48.4×	34.7×	+9.44% (above 0%: growing)	−8.05% (below 0%: shrinking)	−18.27% (below 0%: shrinking)	66.44%	21.14%	Compare
MTD Mettler-Toledo International, Inc.	$32.8B	36.4×	25.5×	+4.48% (above 0%: growing)	+18.30% (above 0%: growing)	+33.01% (above 0%: growing)	63.29%	30.61%	Compare
DGX Quest Diagnostics Incorporated	$26.4B	24.6×	20.8×	+10.21% (above 0%: growing)	+14.74% (above 0%: growing)	+5.28% (above 0%: growing)	33.75%	15.08%	Compare
LH Labcorp Holdings Inc.	$26.4B	26.2×	19.0×	+5.78% (above 0%: growing)	+28.42% (above 0%: growing)	−42.01% (below 0%: shrinking)	29.80%	12.10%	Compare
Median of peers	$41.8B	36.4×	26.3×	+9.55%	+15.98%	+19.15%	59.39%	18.11%

All 52 Diagnostics & Research stocks →

IQVIA Holdings Inc. (IQV) key facts

Strength: IQVIA Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.3 billion, up 5.87% from fiscal 2024.
IQVIA Holdings Inc. (IQV) is a Diagnostics & Research company in the Healthcare sector, listed on the New York Stock Exchange.
As of October 16, 2026, IQV traded at $266.90, a market capitalization of $44.6 billion.
Return on equity was 21.4% and debt-to-equity 2.54.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 2.05 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.