IQVIA HOLDINGS INC.

IQV 10-K · Q4 2025

IQV Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Revenue 4,364 3,958 +10.3%
Show Business Segments breakouts
Contract Sales & Medical Solutions 210 177 +18.6%
Contract Sales & Medical Solutions · Americas 69 69 0.0%
Contract Sales & Medical Solutions · Asia Pacific 63 55 +14.5%
Contract Sales & Medical Solutions · EMEA 78 53 +47.2%
Research & Development Solutions 2,333 2,123 +9.9%
Research & Development Solutions · Americas 1,075 925 +16.2%
Research & Development Solutions · Asia Pacific 644 593 +8.6%
Research & Development Solutions · EMEA 614 605 +1.5%
Technology & Analytics Solutions 1,821 1,658 +9.8%
Technology & Analytics Solutions · Americas 926 859 +7.8%
Technology & Analytics Solutions · Asia Pacific 164 159 +3.1%
Technology & Analytics Solutions · EMEA 731 640 +14.2%
Show Geography breakouts
Americas 2,070 1,853 +11.7%
Asia Pacific 871 807 +7.9%
EMEA 1,423 1,298 +9.6%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax 5 3 +66.7%
Show Derivative Risk breakouts
Interest Rate Swap · Interest Expense 0 3 -100.0%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Tax -1 0
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax -4 -3 -33.3%
Cost Of Goods And Service Excluding Depreciation Depletion And Amortization 2,928 2,580 +13.5%
Show — breakouts
Cost Of Goods And Service Excluding Depreciation Depletion And Amortization 181 149 +21.5%
Cost Of Goods And Service Excluding Depreciation Depletion And Amortization 5,625 5,236 +7.4%
Cost Of Goods And Service Excluding Depreciation Depletion And Amortization 3,577 3,259 +9.8%
Selling, General & Administrative 468 453 +3.3%
Show Business Segments breakouts
Contract Sales & Medical Solutions · Operating Segments 17 15 +13.3%
Research & Development Solutions · Operating Segments 224 215 +4.2%
Technology & Analytics Solutions · Operating Segments 241 236 +2.1%
Show Consolidation Items breakouts
Operating Segments 482 466 +3.4%
Depreciation & Amortization 317 303 +4.6%
Restructuring Charges 24 -4 +700.0%
Operating Income 627 626 +0.2%
Interest Income -11 -11 0.0%
Interest Expense 193 171 +12.9%
Other Non-Operating Income (Expense) -94 -78 -20.5%
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments 537 544 -1.3%
Income Tax Expense (Benefit) 59 112 -47.3%
Income Loss From Continuing Operations After Income Taxes And Before Equity In Earnings Of Unconsolidated Affiliates 478 432 +10.6%
Net Income 514 437 +17.6%
Net Income 514 437 +17.6%
EPS (Basic) 3.01 2.43 +23.9%
EPS (Diluted) 2.98 2.41 +23.7%
Wtd Avg Shares (Basic) -0.7 -0.8 +12.5%
Wtd Avg Shares (Diluted) -0.6 -0.9 +33.3%
Gross Profit (Q)
Show Business Segments breakouts
Contract Sales & Medical Solutions · Operating Segments 12 13 -7.7%
Research & Development Solutions · Operating Segments 466 478 -2.5%
Technology & Analytics Solutions · Operating Segments 476 421 +13.1%
Show Consolidation Items breakouts
Corporate Non Segment 14 13 +7.7%
Operating Segments 954 912 +4.6%
Comprehensive Income 499 225 +121.8%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax 5 45 -88.9%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Cash & Cash Equivalents 1,980 1,702 +16.3%
Show Consolidated Entities breakouts
Parent Company 1
Prepaid Expense Current 162 154 +5.2%
Marketable Securities (Current) 161 141 +14.2%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 203 170 +19.4%
Fair Value Inputs Level12 And3 203 170 +19.4%
Total Current Assets 6,249 5,829 +7.2%
Show Consolidated Entities breakouts
Parent Company 1
Non-Current Assets
Defined Benefit Plan Assets For Plan Benefits Noncurrent (Q)
Show Retirement Plan Type breakouts
Pension Plans Defined Benefit · Foreign Plan 45 43 +4.7%
Pension Plans Defined Benefit · US 150 121 +24.0%
Property, Plant & Equipment 533 535 -0.4%
Operating Lease Right-of-Use Assets 290 238 +21.8%
Goodwill 16,616 14,710 +13.0%
Show Business Segments breakouts
Contract Sales & Medical Solutions 167 145 +15.2%
Research & Development Solutions 3,025 2,608 +16.0%
Technology & Analytics Solutions 13,424 11,957 +12.3%
Show Business Acquisition breakouts
Series Of Individually Immaterial Business Acquisitions 1,279 532 +140.4%
Deferred Tax Assets 357 194 +84.0%
Deposits And Other Assets Noncurrent 505 520 -2.9%
Total Assets 29,944 26,899 +11.3%
Show Consolidated Entities breakouts
Parent Company 9,668 9,667 0.0%
Variable Interest Entity Not Primary Beneficiary 302
Variable Interest Entity Not Primary Beneficiary · Longwood 4
Variable Interest Entity Not Primary Beneficiary · NQ Fund IV 4
Variable Interest Entity Not Primary Beneficiary · NQ Fund V 33
Variable Interest Entity Not Primary Beneficiary · NQ PE Fund I 10
Variable Interest Entity Not Primary Beneficiary · Other 251
Intangible Assets 4,962 4,499 +10.3%
Show Finite Lived Intangible Assets By Major Class breakouts
Client relationships and backlog 3,087 2,724 +13.3%
Computer Software Intangible Asset 1,684 1,556 +8.2%
Databases 19 22 -13.6%
Noncompete Agreements 8 8 0.0%
Trademarks And Trade Names 164 189 -13.2%
Other Assets
Trade Accounts Receivable And Unbilled Services Net 3,400 3,204 +6.1%
Income Taxes Receivable 27 36 -25.0%
Other Assets Current And Receivables 519 592 -12.3%
Long Term Investments Excluding Equity Method Investments 108 108 0.0%
Equity Method Investments 324 266 +21.8%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Longwood 4 6 -33.3%
NQ Fund IV 4 4 0.0%
NQ Fund V 33 36 -8.3%
NQ PE Fund I 10 11 -9.1%
Other 266 190 +40.0%
RxWare (formerly "Helparound") 7 2 +250.0%
Intangible Assets Net Excluding Goodwill 4,962 4,499 +10.3%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level3 · Fair Value Measurements Nonrecurring 4,962
Current Liabilities
Accounts Payable And Other Accrued Liabilities Current 3,751 3,684 +1.8%
Deferred Revenue (Current) 2,118 1,779 +19.1%
Accrued Income Taxes Current 140 156 -10.3%
Current Portion of Long-Term Debt 1,840 1,145 +60.7%
Other Liabilities Current 489 193 +153.4%
Total Current Liabilities 8,338 6,957 +19.9%
Show Consolidated Entities breakouts
Parent Company 8 9 -11.1%
Accrued Liabilities 2,971 2,948 +0.8%
Non-Current Liabilities
Pension And Other Postretirement Defined Benefit Plans Liabilities Current And Noncurrent (Q)
Show Retirement Plan Type breakouts
Pension Plans Defined Benefit · Foreign Plan 216 198 +9.1%
Pension Plans Defined Benefit · US 23 23 0.0%
Long-Term Debt 13,884 12,838 +8.1%
Deferred Tax Liabilities 179 196 -8.7%
Operating Lease Liabilities 225 173 +30.1%
Other Non-Current Liabilities 688 668 +3.0%
Total Liabilities 23,314 20,832 +11.9%
Show Consolidated Entities breakouts
Parent Company 3,165 3,600 -12.1%
Long-Term Debt (Q)
Show Debt Instrument breakouts
Foreign currency denominated debt 2,955
Other Liabilities
Pension And Other Postretirement Defined Benefit Plans Current Liabilities (Q)
Show Retirement Plan Type breakouts
Pension Plans Defined Benefit · Foreign Plan 16 14 +14.3%
Pension Plans Defined Benefit · US 3 3 0.0%
Stockholders' Equity
Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax Attributable To Parent (Q)
Show Retirement Plan Type breakouts
Pension Plans Defined Benefit · Actuarial Net (Gain) Loss 84 64 +31.2%
Pension Plans Defined Benefit · Actuarial Net (Gain) Loss -44 -49 +10.2%
Common Stocks Including Additional Paid In Capital 11,378 11,143 +2.1%
Show Consolidated Entities breakouts
Parent Company 11,378 11,143 +2.1%
Retained Earnings 7,425 6,065 +22.4%
Show Consolidated Entities breakouts
Parent Company 7,425 6,065 +22.4%
Treasury Stock Common Value -11,357 -10,103 -12.4%
Show Consolidated Entities breakouts
Parent Company -11,357 -10,103 -12.4%
Accumulated Other Comprehensive Income -943 -1,038 +9.2%
Show Consolidated Entities breakouts
Parent Company -943 -1,038 +9.2%
Total Stockholders' Equity 6,503 6,067 +7.2%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment 40 15 +166.7%
Accumulated Gain Loss Net Cash Flow Hedge Parent -43 -5 -760.0%
Accumulated Other Comprehensive Income -943 -1,038 +9.2%
Accumulated Translation Adjustment -1,126 -1,092 -3.1%
Show Consolidated Entities breakouts
Parent Company 6,503 6,067 +7.2%
Minority Interest 127
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 6,630 6,067 +9.3%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -943 -1,038 +9.2%
Additional Paid In Capital 11,375 11,140 +2.1%
Common Stock 3 3 0.0%
Noncontrolling Interest 127
Retained Earnings 7,425 6,065 +22.4%
Treasury Stock Common -11,357 -10,103 -12.4%
Total Liabilities & Equity 29,944 26,899 +11.3%
Show Consolidated Entities breakouts
Parent Company 9,668 9,667 0.0%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Amortization Of Financing Costs And Discounts 6 5 +20.0%
Stock-Based Compensation 60 48 +25.0%
Gain Loss On Sale Of Investments -24 7 -442.9%
Deferred Income Taxes -48 -15 -220.0%
Net Cash from Operations 735 885 -16.9%
Investing Activities
Payments To Acquire Productive Assets -174 -164 -6.1%
Payments To Acquire Businesses Net Of Cash Acquired -916 -86 -965.1%
Payments To Acquire Equity Method Investments And Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital -16 -64 +75.0%
Proceeds From Sale Of Property Plant And Equipment 0 0
Other Investing Activities 2 4 -50.0%
Net Cash from Investing -1,104 -310 -256.1%
Financing Activities
Proceeds From Lines Of Credit 2,000 1,000 +100.0%
Repayments Of Lines Of Credit -1,200 -175 -585.7%
Share Repurchases -212 -1,150 +81.6%
Payment For Contingent Consideration Liability Financing Activities -7 -4 -75.0%
Net Cash from Financing 535 -375 +242.7%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 0 -70 +100.0%
Net Change in Cash 166 130 +27.7%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations 1,980 1,702 +16.3%
Show Consolidated Entities breakouts
Parent Company 1

Values in millions USD. Source: SEC EDGAR 10-K filing.

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