Stock Analysis on Net
Stock Analysis on Net

IQVIA Holdings Inc. (NYSE:IQV)

This company has been moved to the archive! The financial data has not been updated since November 1, 2023.

Common-Size Income Statement
Quarterly Data

IQVIA Holdings Inc., common-size consolidated income statement (quarterly data)

Microsoft Excel
3 months ended: Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Revenues 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Cost of revenues, exclusive of depreciation and amortization -64.94 -65.53 -65.66 -64.38 -65.16 -65.83 -65.11 -65.02 -66.44 -67.57 -67.26 -65.86 -64.61 -67.59 -66.23 -65.66 -66.88 -65.66 -65.13 -64.81 -64.69 -65.21 -64.46
Gross profit 35.06% 34.47% 34.34% 35.62% 34.84% 34.17% 34.89% 34.98% 33.56% 32.43% 32.74% 34.14% 35.39% 32.41% 33.77% 34.34% 33.12% 34.34% 34.87% 35.19% 35.31% 34.79% 35.54%
Selling, general and administrative expenses -13.44 -12.93 -14.05 -15.59 -14.51 -13.64 -13.68 -14.91 -14.69 -14.02 -12.97 -14.89 -16.51 -17.10 -14.78 -16.72 -14.27 -15.91 -15.61 -16.48 -16.54 -16.52 -16.39
Depreciation and amortization -7.95 -6.95 -6.93 -9.55 -6.96 -7.62 -7.15 -7.21 -9.91 -9.98 -9.47 -10.43 -11.45 -12.22 -11.47 -10.85 -10.80 -10.73 -10.99 -10.94 -10.91 -10.99 -11.00
Restructuring costs -0.80 -0.54 -0.47 -0.35 -0.11 -0.11 -0.20 -0.14 -0.06 -0.12 -0.26 -0.06 -0.72 -0.63 -0.51 -1.04 -0.69 -0.51 -0.45 -0.07 -0.89 -0.66 -1.01
Income from operations 12.87% 14.06% 12.90% 10.14% 13.25% 12.79% 13.87% 12.73% 8.91% 8.32% 10.03% 8.76% 6.71% 2.46% 7.01% 5.73% 7.37% 7.19% 7.82% 7.70% 6.98% 6.62% 7.14%
Interest income 0.37 0.11 0.16 0.16 0.11 0.06 0.03 0.06 0.06 0.03 0.03 0.06 0.04 0.04 0.07 0.07 0.11 0.07 0.07 0.11 0.08 0.04 0.08
Interest expense -4.84 -4.53 -3.86 -3.42 -3.03 -2.65 -2.41 -2.48 -2.71 -2.73 -2.90 -3.09 -3.59 -4.28 -3.85 -3.77 -4.12 -4.16 -4.10 -3.94 -4.05 -4.17 -3.75
Loss on extinguishment of debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.03 -0.03 0.00 -0.70 -0.03 0.00 -0.48 0.00 0.00 -0.87 0.00 0.00 0.00 0.00 -0.08 0.00
Other income (expense), net 0.94 0.43 0.71 0.48 -0.22 -0.93 -0.28 0.06 1.83 0.84 1.09 0.18 0.50 1.27 0.47 1.28 0.00 -0.26 0.26 0.00 -1.04 1.01 -0.16
Income (loss) before income taxes and equity in earnings (losses) of unconsolidated affiliates 9.34% 10.06% 9.91% 7.35% 10.11% 9.26% 11.21% 10.34% 8.05% 6.46% 7.54% 5.88% 3.66% -0.99% 3.70% 3.32% 2.49% 2.85% 4.06% 3.87% 1.97% 3.43% 3.32%
Income tax (expense) benefit -1.37 -2.17 -1.94 -1.28 -1.97 -2.01 -1.99 -1.62 -0.35 -1.40 -1.29 -1.91 0.11 0.20 -0.62 -2.35 0.04 -0.29 -1.53 -1.12 0.54 -0.93 -0.74
Income (loss) before equity in earnings (losses) of unconsolidated affiliates 7.98% 7.89% 7.97% 6.07% 8.14% 7.26% 9.22% 8.72% 7.70% 5.06% 6.25% 3.97% 3.77% -0.79% 3.09% 0.97% 2.53% 2.55% 2.53% 2.75% 2.51% 2.49% 2.58%
Equity in earnings (losses) of unconsolidated affiliates 0.13 0.08 -0.05 0.00 -0.20 -0.03 -0.11 0.03 0.00 0.03 0.12 -0.03 0.11 -0.04 0.22 -0.28 -0.04 0.04 -0.04 0.07 0.08 0.16 0.27
Net income (loss) 8.11% 7.97% 7.91% 6.07% 7.94% 7.23% 9.11% 8.75% 7.70% 5.09% 6.37% 3.94% 3.88% -0.83% 3.30% 0.69% 2.49% 2.59% 2.50% 2.83% 2.58% 2.65% 2.85%
Net income attributable to non-controlling interests 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.15 -0.33 -0.25 -0.08 -0.33 -0.14 -0.43 -0.40 -0.34 -0.26 -0.27 -0.27 -0.16
Net income (loss) attributable to IQVIA Holdings Inc. 8.11% 7.97% 7.91% 6.07% 7.94% 7.23% 9.11% 8.75% 7.70% 5.09% 6.22% 3.61% 3.63% -0.91% 2.98% 0.55% 2.06% 2.19% 2.16% 2.57% 2.31% 2.38% 2.69%

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

The financial performance from March 2018 through September 2023 is characterized by a significant expansion in operating and net profit margins, driven primarily by a reduction in operating expenses relative to total revenue. While the cost of revenues remained relatively consistent, efficiency gains in administrative costs and a reduction in non-cash charges contributed to a stronger bottom-line trajectory.

Gross Profitability
Gross profit margins exhibited relative stability throughout the period, generally fluctuating between 32% and 36%. The most notable contraction occurred in June 2020, where the margin dipped to 32.41%, before returning to a range of 34% to 35% in the subsequent years.
Operating Expense Management
A consistent improvement in operational efficiency is evident. Selling, general, and administrative (SG&A) expenses as a percentage of revenue trended downward from approximately 16.4% in 2018 to roughly 13.4% by September 2023. Furthermore, depreciation and amortization charges saw a structural decline, dropping from a consistent 11% range between 2018 and 2020 to approximately 7% to 8% starting in 2021.
Operating Margin Expansion
Income from operations showed a clear upward trend. Operating margins averaged between 6% and 8% from 2018 through 2019, experienced a sharp temporary decline to 2.46% in June 2020, and subsequently surged to a new baseline of 10% to 14% between 2021 and 2023.
Net Income and Profitability
Net income as a percentage of revenue mirrored the operating trend, with a significant increase in profitability over the long term. After a period of low margins (approximately 2% to 3%) and a net loss in June 2020 (-0.83%), the net margin expanded considerably, stabilizing between 7% and 9% from 2021 onward.
Financial Costs and Interest
Interest expenses as a percentage of revenue initially trended downward, decreasing from roughly 4% in 2018 to a low of 2.41% in March 2022. However, a recent upward trend is observed, with interest expenses rising to 4.84% of revenue by September 2023, indicating an increase in the relative cost of debt servicing.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?