$IQV

IQVIA HOLDINGS INC.

CIK:0001478242|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 4,368.0	$ 4,017.0	$ 8,519.0	$ 7,846.0
Cost of revenues, exclusive of depreciation and amortization	2,933.0	2,694.0	5,729.0	5,225.0
Selling, general and administrative expenses	574.0	509.0	1,076.0	1,017.0
Depreciation and amortization	292.0	276.0	580.0	541.0
Restructuring costs	63.0	32.0	114.0	61.0
Income from operations	506.0	506.0	1,020.0	1,002.0
Interest income	(7.0)	(10.0)	(17.0)	(21.0)
Interest expense	197.0	182.0	389.0	347.0
Loss on extinguishment of debt	3.0	0.0	3.0	4.0
Other expense, net	12.0	11.0	16.0	26.0
Income before income taxes and equity in earnings (losses) of unconsolidated affiliates	301.0	323.0	629.0	646.0
Income tax expense	60.0	56.0	119.0	117.0
Income before equity in earnings (losses) of unconsolidated affiliates	241.0	267.0	510.0	529.0
Equity in earnings (losses) of unconsolidated affiliates	17.0	(1.0)	23.0	(14.0)
Net income	258.0	266.0	533.0	515.0
Net income attributable to noncontrolling interests	(2.0)	0.0	(3.0)	0.0
Net income attributable to IQVIA Holdings Inc.	$ 256.0	$ 266.0	$ 530.0	$ 515.0
Earnings per share attributable to common stockholders:
Basic (in dollars per share)	$ 1.54	$ 1.55	$ 3.17	$ 2.96
Diluted (in dollars per share)	$ 1.53	$ 1.54	$ 3.14	$ 2.94
Weighted average common shares outstanding:
Basic (in shares)	166.1	171.8	167.2	173.7
Diluted (in shares)	167.3	173.2	168.6	175.3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income	$ 533	$ 515
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	580	541
Amortization of debt issuance costs and discount	12	11
Stock-based compensation	160	132
(Earnings) losses from unconsolidated affiliates	(23)	14
Loss (gain) on investments, net	12	(16)
Benefit from deferred income taxes	(74)	(86)
Changes in operating assets and liabilities:
Change in accounts receivable, unbilled services and unearned income	239	269
Change in other operating assets and liabilities	(263)	(369)
Net cash provided by operating activities	1,176	1,011
Investing activities:
Acquisition of property, equipment and software	(325)	(293)
Acquisition of businesses, net of cash acquired	(200)	(315)
Sales of marketable securities, net	3	2
Investments in unconsolidated affiliates, net of payments received	(58)	(27)
Investments in debt and equity securities	0	(19)
Other	3	1
Net cash used in investing activities	(577)	(651)
Financing activities:
Proceeds from issuance of debt	1,758	3,985
Payment of debt issuance costs	(20)	(35)
Repayment of debt and principal payments on finance leases	(1,370)	(2,140)
Proceeds from revolving credit facility	900	875
Repayment of revolving credit facility	(900)	(1,700)
Payments related to employee stock incentive plans	(41)	(35)
Repurchase of common stock	(950)	(1,032)
Contingent consideration and deferred purchase price payments	(15)	(20)
Other	(9)	(11)
Net cash used in financing activities	(647)	(113)
Effect of foreign currency exchange rate changes on cash	(23)	90
(Decrease) increase in cash and cash equivalents	(71)	337
Cash and cash equivalents at beginning of period	1,980	1,702
Cash and cash equivalents at end of period	$ 1,909	$ 2,039

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,909	$ 1,980
Trade accounts receivable and unbilled services, net	3,345	3,400
Prepaid expenses	220	162
Income taxes receivable	42	27
Investments in debt, equity and other securities	171	161
Other current assets and receivables	539	519
Total current assets	6,226	6,249
Property and equipment, net	547	533
Operating lease right-of-use assets	304	290
Investments in debt, equity and other securities	82	108
Investments in unconsolidated affiliates	390	324
Goodwill	16,604	16,616
Other identifiable intangibles, net	4,749	4,962
Deferred income taxes	421	357
Deposits and other assets, net	558	505
Total assets	29,881	29,944
Current liabilities:
Accounts payable and accrued expenses	3,608	3,751
Unearned income	2,281	2,118
Income taxes payable	175	140
Current portion of long-term debt	2,294	1,840
Other current liabilities	457	489
Total current liabilities	8,815	8,338
Long-term debt, less current portion	13,705	13,884
Deferred income taxes	173	179
Operating lease liabilities	242	225
Other liabilities	645	688
Total liabilities	23,580	23,314
Commitments and contingencies (Note 8)
Stockholders’ equity:
Common stock and additional paid-in capital, 400.0 shares authorized as of June 30, 2026 and December 31, 2025, $0.01 par value, 259.6 shares issued and 164.6 shares outstanding as of June 30, 2026; 259.1 shares issued and 169.6 shares outstanding as of December 31, 2025	11,496	11,378
Retained earnings	7,955	7,425
Treasury stock, at cost, 95.0 and 89.5 shares as of June 30, 2026 and December 31, 2025, respectively	(12,316)	(11,357)
Accumulated other comprehensive loss	(964)	(943)
Equity attributable to IQVIA Holdings Inc.’s stockholders	6,171	6,503
Noncontrolling interests	130	127
Total stockholders’ equity	6,301	6,630
Total liabilities and stockholders’ equity	$ 29,881	$ 29,944