IQVIA Holdings Inc.IQV
NYSE•Healthcare•Diagnostics & Research
IQVIA Holdings Inc. provides clinical research services, commercial insights, and healthcare intelligence to the life sciences and healthcare industries in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions. The Technology & Analytics Solutions segment offers a range of cloud-based applications and associated implementation services; real world solutions that enable life sciences and provider customers to generate and disseminate evidence, which informs health care decision making and improves patients' outcomes; and strategic and implementation consulting services, such as advanced analytics and commercial processes outsourcing services. This segment also provides country level performance metrics related to sales of pharmaceutical products, prescribing trends, medical treatment, and promotional activity across various channels, including retail, hospital, and mail order; and measurement of sales or prescribing activity at the regional, zip code, and individual prescriber level. The Research & Development Solutions segment offers project management and clinical monitoring; clinical trial support; strategic planning and design services; and patient and site centric solutions, as well as central laboratory, genomic, bioanalytical, ADME, discovery, vaccine and biomarker laboratory services. The Contract Sales & Medical Solutions segment provides health care provider and patient engagement services, and scientific strategy and medical services. It serves pharmaceutical, biotechnology, device and diagnostic, and consumer health companies. The company has a strategic collaboration with Kexing Biopharm Co., Ltd. for biosimilar development. The company was formerly known as Quintiles IMS Holdings, Inc. and changed its name to IQVIA Holdings Inc. in November 2017. IQVIA Holdings Inc. is based in Durham, North Carolina.
IQVIA Holdings, Inc. (IQV) reported trailing twelve months revenue of $16.63B as of March 2026, a 7.3% increase year-over-year. Quarterly revenue reached $4.15B, reflecting continued top-line momentum.
IQVIA Holdings, Inc. generated $1.39B in TTM net income, with quarterly EBITDA of $802.00M. The operating margin contracted from 13.0% to 12.4%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (12.4%) and net margin (6.6%) indicates moderate non-operating costs. Net margin has improved from 6.5% a year ago, signaling stronger bottom-line efficiency.
IQV trades at a P/E of 20.2x (in line with broad market averages) and a P/S of 1.7x. The price-to-book ratio of 4.5x reflects a moderate premium to book value.
The company generated $491.00M in free cash flow over the trailing twelve months, a 15.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $29.68B in total assets with $13.99B in long-term debt against $6.22B in stockholders equity for a debt-to-equity ratio of 2.2, a relatively leveraged position. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~13.7% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 21.5% suggests a durable competitive advantage and efficient capital allocation.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~9.7% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins declined 6.5% — watch for continued compression, which may signal competitive or cost pressure.
FCF covers net income by 1.6x on average — earnings are well-supported by cash generation.
D/E ratio of 2.2 is elevated. Monitor for further debt accumulation.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 7.6% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation