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Inferra AI / Company / IQV

IQVIA

IQV · Health Care

Last earnings Oct 27, 2026

Key results

Revenuequarter

$4,100 million

Revenue of $4,100 million, up 5.2 percent year-over-year

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Growthquarter

up 5.2 percent

Revenue of $4,100 million, up 5.2 percent year-over-year

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

GAAP net incomequarter

$331 million

GAAP Net Income of $331 million, Adjusted EBITDA of $949 million

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

GAAP EPSquarter

$1.93

GAAP Diluted Earnings per Share of $1.93,

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Adjusted EPSquarter

$3.00

Adjusted Diluted Earnings per Share of $3.00 R D Solutions quarterly bookings of $2.6 billion, representing a book-to-bill ratio of 1.15x R D Solutions contracted backlog of $32.4 billion, up 4.1 percent year-over-year Operating Cash Flow of $908 million

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Free cash flowquarter

$772 million

Free Cash Flow of $772 million, up 35 percent year-over-year, representing 150 percent of

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Third-Quarter 2025 Operating Results Revenue for the third quarter of $4,100 million increased 5.2 percent on a reported basis and 3.9 percent at constant currency, compared to the third quarter of 2024.

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Technology Analytics Solutions (TAS) revenue of $1,631 million increased 5.0 percent on a reported basis and 3.3 percent at constant currency.

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Research Development Solutions (R DS) revenue of $2,260 million increased 4.5 percent on a reported basis and 3.4 percent at constant currency.

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

AI analysis

Q3 2025 · reported Oct 28, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Revenue · Q3 2025
$4,100M
EX-99 · Oct 28, 2025
GAAP EPS · Q3 2025
$1.93
EX-99 · Oct 28, 2025
Free cash flow · Q3 2025
$772M
EX-99 · Oct 28, 2025
GAAP net income · Q3 2025
$331M
EX-99 · Oct 28, 2025

The quarter in charts

Guidance ladder — revenue

Delivered vs the company's guided range

EX-99 · Oct 28, 2025 Guide as stated by the company; range and midpoint computed from the stated figure.

Headline figures

MetricQ3 2025Prior qtrYear ago
Revenue$4,100 million——
Growthup 5.2 percent——
GAAP net income$331 million——
GAAP EPS$1.93——
Adjusted EPS$3.00——
Free cash flow$772 million——

EX-99 · Oct 28, 2025

Guidance · company-stated

Direction: Reiterated

Revenue$16,150 million

“Full-Year 2025 Guidance The company is reaffirming the midpoint of its full-year 2025 guidance and narrowing the ranges as follows revenue expected to be between $16,150 million and $16,250 million, Adjusted EBITDA expected to be between $3,775 million and $3,800 million, and Adjusted Diluted Earnings per Share expected to be between $11.85 and $11.95.”

Midpoint vs latest-quarter revenue+293.9%computed from stated figures

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Cash flow & capex

Free cash flow$772M

Capital allocation

Financial Position As of September 30, 2025, cash and cash equivalents were $1,814 million and debt was $14,957 million, resulting in net debt of $13,143 million.

$ 331 $ 285 $ 846 $ 936 Provision for income taxes 76 65 193 189 Depreciation and amortization 286 278 827 811 Interest expense, net 176 157 502 463 (Income) loss in unconsolidated affiliates (1) 14 Income from noncontrolling interests 1 1 Stock-based compensation 55 54 187 158 Other (income) expense, net (1) (21) 56 23 11 Loss on extinguishment of debt 4 Restructuring and related expenses (2) 30 38 114 99 Acquisition related expenses 15 7 31 21 Adjusted EBITDA $ 949 $ 939 $ 2,742 $ 2,688 (1) Reflects certain non-operating income items, revaluations of contingent consideration and certain non-recurring expenses.

What changed vs last quarter

  • Guide midpoint vs latest-quarter revenue +293.9% computed from stated figures
General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Third-Quarter 2025 Operating Results Revenue for the third quarter of $4,100 million increased 5.2 percent on a reported basis and 3.9 percent at constant currency, compared to the third quarter of 2024

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Direction: Reiterated

Revenue: “Full-Year 2025 Guidance The company is reaffirming the midpoint of its full-year 2025 guidance and narrowing the ranges as follows revenue expected to be between $16,150 million and $16,250 million, Adjusted EBITDA expected to be between $3,775 million and $3,800 million, and Adjusted Diluted Earnings per Share expected to be between $11.85 and $11.95.”

Revenue — Reiterated (“reaffirming”)
“Full-Year 2025 Guidance The company is reaffirming the midpoint of its full-year 2025 guidance and narrowing the ranges as follows revenue expected to be between $16,150 million and $16,250 million, Adjusted EBITDA expected to be between $3,775 million and $3,800 million, and Adjusted Diluted Earnings per Share expected to be between $11.85 and $11.95.”

Classified from the release's primary full-year outlook statement.

Capital allocation

Financial Position As of September 30, 2025, cash and cash equivalents were $1,814 million and debt was $14,957 million, resulting in net debt of $13,143 million.

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

$ 331 $ 285 $ 846 $ 936 Provision for income taxes 76 65 193 189 Depreciation and amortization 286 278 827 811 Interest expense, net 176 157 502 463 (Income) loss in unconsolidated affiliates (1) 14 Income from noncontrolling interests 1 1 Stock-based compensation 55 54 187 158 Other (income) expense, net (1) (21) 56 23 11 Loss on extinguishment of debt 4 Restructuring and related expenses (2) 30 38 114 99 Acquisition related expenses 15 7 31 21 Adjusted EBITDA $ 949 $ 939 $ 2,742 $ 2,688 (1) Reflects certain non-operating income items, revaluations of contingent consideration and certain non-recurring expenses.

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Bad debt expense recognized on the Company s trade accounts receivable was immaterial for the three and nine months ended September 30, 2026 and 2025.

SEC original ↗IQVIA — 10-Q Quarterly report10-QOct 27, 2026

As of September 30, 2026, the portion of the Company's foreign currency denominated debt balance (net of original issue discount) designated as a hedge of its net investment in certain foreign subsidiaries totaled 3,125 million ($ 3,545 million).

SEC original ↗IQVIA — 10-Q Quarterly report10-QOct 27, 2026

As of September 30, 2026 and December 31, 2025, the fair value of total debt was $ 15,994 million and $ 15,935 million, respectively, as determined under Level 2 measurements for these financial instruments.

SEC original ↗IQVIA — 10-Q Quarterly report10-QOct 27, 2026

These assets are comprised of debt investments and cost and equity method investments of $ 490 million, goodwill of $ 16,900 million and other identifiable intangibles, net of $ 4,738 million.

SEC original ↗IQVIA — 10-Q Quarterly report10-QOct 27, 2026

Strategy & priorities

The company uses non-GAAP measures in its operational and financial decision making, and believes that it is useful to exclude certain items in order to focus on what it regards to be a more meaningful indicator of the underlying operating performance of the business.

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

As a result, internal management reports feature non-GAAP measures which are also used to prepare strategic plans and annual budgets and review management compensation.

SEC original ↗IQVIA — Earnings release (8-K exhibit)EX-99Oct 28, 2025

A three-level fair value hierarchy that prioritizes the inputs used to measure fair value is described below.

SEC original ↗IQVIA — 10-Q Quarterly report10-QOct 27, 2026

Risks & headwinds

Legal Proceedings 37 Item 1A .

SEC original ↗IQVIA — 10-Q Quarterly report10-QOct 27, 2026

In evaluating whether it is probable the project will be completed, an entity is required to consider whether there is significant uncertainty associated with the development activities of the software.

SEC original ↗IQVIA — 10-Q Quarterly report10-QOct 27, 2026

Contingencies The Company and its subsidiaries are involved in legal and tax proceedings, claims and litigation arising in the ordinary course of business.

SEC original ↗IQVIA — 10-Q Quarterly report10-QOct 27, 2026

In other instances, because of the uncertainties related to either the probable outcome or the amount or range of loss, management is unable to make a reasonable estimate of a liability, if any.

SEC original ↗IQVIA — 10-Q Quarterly report10-QOct 27, 2026

Based on its review of the latest information available, management does not expect the impact of pending legal and tax proceedings, claims and litigation, either individually or in the aggregate, to have a material adverse effect on the Company s results of operations, cash flows or financial position.

SEC original ↗IQVIA — 10-Q Quarterly report10-QOct 27, 2026

However, one or more unfavorable outcomes in any claim or litigation against the Company could have a material adverse effect for the period in which it is resolved.

SEC original ↗IQVIA — 10-Q Quarterly report10-QOct 27, 2026

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Gilead Sciences (GILD) Health CareGenmab (GMAB) Health CareAlcon (ALC) Health CareArgenx (ARGX) Health CareSanofi (SNY) Health CareMerck & Co. (MRK) Health CareXencor Inc (XNCR) Health CareIllumina, Inc. (ILMN) Health Care
Documents

Filings

65 documents

Earnings releases

24 documents

Presentations

0 documents

No presentations for IQVIA are held in this edition of the library.

Transcripts

0 documents

No transcripts for IQVIA are held in this edition of the library.

Mentioned by

3 companies

Other tracked companies whose held documents mention IQVIA by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.