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.

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

IQVIA Holdings Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Sep 30, 2023 19.22% = 4.30% × 4.47
Jun 30, 2023 19.07% = 4.21% × 4.53
Mar 31, 2023 17.78% = 4.10% × 4.34
Dec 31, 2022 18.92% = 4.31% × 4.39
Sep 30, 2022 22.11% = 4.88% × 4.53
Jun 30, 2022 21.67% = 4.75% × 4.56
Mar 31, 2022 18.23% = 4.32% × 4.22
Dec 31, 2021 15.99% = 3.91% × 4.09
Sep 30, 2021 13.16% = 3.19% × 4.12
Jun 30, 2021 10.54% = 2.54% × 4.16
Mar 31, 2021 6.87% = 1.67% × 4.11
Dec 31, 2020 4.65% = 1.14% × 4.09
Sep 30, 2020 3.01% = 0.74% × 4.08
Jun 30, 2020 2.36% = 0.57% × 4.15
Mar 31, 2020 3.88% = 0.93% × 4.16
Dec 31, 2019 3.18% = 0.82% × 3.87
Sep 30, 2019 3.98% = 1.07% × 3.73
Jun 30, 2019 3.79% = 1.07% × 3.54
Mar 31, 2019 3.75% = 1.07% × 3.49
Dec 31, 2018 3.86% = 1.15% × 3.36
Sep 30, 2018 — = — × 3.12
Jun 30, 2018 — = — × 3.07
Mar 31, 2018 — = — × 2.83

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 primary reason for the increase in return on equity ratio (ROE) over Q3 2023 is the increase in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

IQVIA Holdings Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Sep 30, 2023 19.22% = 7.51% × 0.57 × 4.47
Jun 30, 2023 19.07% = 7.47% × 0.56 × 4.53
Mar 31, 2023 17.78% = 7.28% × 0.56 × 4.34
Dec 31, 2022 18.92% = 7.57% × 0.57 × 4.39
Sep 30, 2022 22.11% = 8.26% × 0.59 × 4.53
Jun 30, 2022 21.67% = 8.21% × 0.58 × 4.56
Mar 31, 2022 18.23% = 7.69% × 0.56 × 4.22
Dec 31, 2021 15.99% = 6.96% × 0.56 × 4.09
Sep 30, 2021 13.16% = 5.67% × 0.56 × 4.12
Jun 30, 2021 10.54% = 4.69% × 0.54 × 4.16
Mar 31, 2021 6.87% = 3.40% × 0.49 × 4.11
Dec 31, 2020 4.65% = 2.46% × 0.46 × 4.09
Sep 30, 2020 3.01% = 1.61% × 0.46 × 4.08
Jun 30, 2020 2.36% = 1.21% × 0.47 × 4.15
Mar 31, 2020 3.88% = 1.93% × 0.48 × 4.16
Dec 31, 2019 3.18% = 1.72% × 0.48 × 3.87
Sep 30, 2019 3.98% = 2.24% × 0.48 × 3.73
Jun 30, 2019 3.79% = 2.31% × 0.46 × 3.54
Mar 31, 2019 3.75% = 2.35% × 0.46 × 3.49
Dec 31, 2018 3.86% = 2.49% × 0.46 × 3.36
Sep 30, 2018 — = — × — × 3.12
Jun 30, 2018 — = — × — × 3.07
Mar 31, 2018 — = — × — × 2.83

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 primary reason for the increase in return on equity ratio (ROE) over Q3 2023 is the increase in efficiency measured by asset turnover ratio.

Five-Component Disaggregation of ROE

IQVIA Holdings Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Sep 30, 2023 19.22% = 0.82 × 0.69 × 13.37% × 0.57 × 4.47
Jun 30, 2023 19.07% = 0.80 × 0.71 × 13.02% × 0.56 × 4.53
Mar 31, 2023 17.78% = 0.80 × 0.74 × 12.32% × 0.56 × 4.34
Dec 31, 2022 18.92% = 0.81 × 0.76 × 12.26% × 0.57 × 4.39
Sep 30, 2022 22.11% = 0.81 × 0.79 × 12.80% × 0.59 × 4.53
Jun 30, 2022 21.67% = 0.84 × 0.79 × 12.27% × 0.58 × 4.56
Mar 31, 2022 18.23% = 0.85 × 0.78 × 11.62% × 0.56 × 4.22
Dec 31, 2021 15.99% = 0.86 × 0.75 × 10.84% × 0.56 × 4.09
Sep 30, 2021 13.16% = 0.82 × 0.71 × 9.76% × 0.56 × 4.12
Jun 30, 2021 10.54% = 0.80 × 0.66 × 8.92% × 0.54 × 4.16
Mar 31, 2021 6.87% = 0.81 × 0.55 × 7.63% × 0.49 × 4.11
Dec 31, 2020 4.65% = 0.79 × 0.46 × 6.75% × 0.46 × 4.09
Sep 30, 2020 3.01% = 0.70 × 0.37 × 6.17% × 0.46 × 4.08
Jun 30, 2020 2.36% = 0.63 × 0.33 × 5.92% × 0.47 × 4.15
Mar 31, 2020 3.88% = 0.70 × 0.41 × 6.72% × 0.48 × 4.16
Dec 31, 2019 3.18% = 0.62 × 0.41 × 6.80% × 0.48 × 3.87
Sep 30, 2019 3.98% = 0.76 × 0.42 × 7.04% × 0.48 × 3.73
Jun 30, 2019 3.79% = 0.79 × 0.42 × 6.98% × 0.46 × 3.54
Mar 31, 2019 3.75% = 0.75 × 0.43 × 7.19% × 0.46 × 3.49
Dec 31, 2018 3.86% = 0.81 × 0.43 × 7.03% × 0.46 × 3.36
Sep 30, 2018 — = — × — × — × — × 3.12
Jun 30, 2018 — = — × — × — × — × 3.07
Mar 31, 2018 — = — × — × — × — × 2.83

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 primary reason for the increase in return on equity ratio (ROE) over Q3 2023 is the increase in operating profitability measured by EBIT margin ratio.

Two-Component Disaggregation of ROA

IQVIA Holdings Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Sep 30, 2023 4.30% = 7.51% × 0.57
Jun 30, 2023 4.21% = 7.47% × 0.56
Mar 31, 2023 4.10% = 7.28% × 0.56
Dec 31, 2022 4.31% = 7.57% × 0.57
Sep 30, 2022 4.88% = 8.26% × 0.59
Jun 30, 2022 4.75% = 8.21% × 0.58
Mar 31, 2022 4.32% = 7.69% × 0.56
Dec 31, 2021 3.91% = 6.96% × 0.56
Sep 30, 2021 3.19% = 5.67% × 0.56
Jun 30, 2021 2.54% = 4.69% × 0.54
Mar 31, 2021 1.67% = 3.40% × 0.49
Dec 31, 2020 1.14% = 2.46% × 0.46
Sep 30, 2020 0.74% = 1.61% × 0.46
Jun 30, 2020 0.57% = 1.21% × 0.47
Mar 31, 2020 0.93% = 1.93% × 0.48
Dec 31, 2019 0.82% = 1.72% × 0.48
Sep 30, 2019 1.07% = 2.24% × 0.48
Jun 30, 2019 1.07% = 2.31% × 0.46
Mar 31, 2019 1.07% = 2.35% × 0.46
Dec 31, 2018 1.15% = 2.49% × 0.46
Sep 30, 2018 — = — × —
Jun 30, 2018 — = — × —
Mar 31, 2018 — = — × —

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 primary reason for the increase in return on assets ratio (ROA) over Q3 2023 is the increase in asset turnover ratio.

Four-Component Disaggregation of ROA

IQVIA Holdings Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Sep 30, 2023 4.30% = 0.82 × 0.69 × 13.37% × 0.57
Jun 30, 2023 4.21% = 0.80 × 0.71 × 13.02% × 0.56
Mar 31, 2023 4.10% = 0.80 × 0.74 × 12.32% × 0.56
Dec 31, 2022 4.31% = 0.81 × 0.76 × 12.26% × 0.57
Sep 30, 2022 4.88% = 0.81 × 0.79 × 12.80% × 0.59
Jun 30, 2022 4.75% = 0.84 × 0.79 × 12.27% × 0.58
Mar 31, 2022 4.32% = 0.85 × 0.78 × 11.62% × 0.56
Dec 31, 2021 3.91% = 0.86 × 0.75 × 10.84% × 0.56
Sep 30, 2021 3.19% = 0.82 × 0.71 × 9.76% × 0.56
Jun 30, 2021 2.54% = 0.80 × 0.66 × 8.92% × 0.54
Mar 31, 2021 1.67% = 0.81 × 0.55 × 7.63% × 0.49
Dec 31, 2020 1.14% = 0.79 × 0.46 × 6.75% × 0.46
Sep 30, 2020 0.74% = 0.70 × 0.37 × 6.17% × 0.46
Jun 30, 2020 0.57% = 0.63 × 0.33 × 5.92% × 0.47
Mar 31, 2020 0.93% = 0.70 × 0.41 × 6.72% × 0.48
Dec 31, 2019 0.82% = 0.62 × 0.41 × 6.80% × 0.48
Sep 30, 2019 1.07% = 0.76 × 0.42 × 7.04% × 0.48
Jun 30, 2019 1.07% = 0.79 × 0.42 × 6.98% × 0.46
Mar 31, 2019 1.07% = 0.75 × 0.43 × 7.19% × 0.46
Dec 31, 2018 1.15% = 0.81 × 0.43 × 7.03% × 0.46
Sep 30, 2018 — = — × — × — × —
Jun 30, 2018 — = — × — × — × —
Mar 31, 2018 — = — × — × — × —

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 primary reason for the increase in return on assets ratio (ROA) over Q3 2023 is the increase in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

IQVIA Holdings Inc., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Sep 30, 2023 7.51% = 0.82 × 0.69 × 13.37%
Jun 30, 2023 7.47% = 0.80 × 0.71 × 13.02%
Mar 31, 2023 7.28% = 0.80 × 0.74 × 12.32%
Dec 31, 2022 7.57% = 0.81 × 0.76 × 12.26%
Sep 30, 2022 8.26% = 0.81 × 0.79 × 12.80%
Jun 30, 2022 8.21% = 0.84 × 0.79 × 12.27%
Mar 31, 2022 7.69% = 0.85 × 0.78 × 11.62%
Dec 31, 2021 6.96% = 0.86 × 0.75 × 10.84%
Sep 30, 2021 5.67% = 0.82 × 0.71 × 9.76%
Jun 30, 2021 4.69% = 0.80 × 0.66 × 8.92%
Mar 31, 2021 3.40% = 0.81 × 0.55 × 7.63%
Dec 31, 2020 2.46% = 0.79 × 0.46 × 6.75%
Sep 30, 2020 1.61% = 0.70 × 0.37 × 6.17%
Jun 30, 2020 1.21% = 0.63 × 0.33 × 5.92%
Mar 31, 2020 1.93% = 0.70 × 0.41 × 6.72%
Dec 31, 2019 1.72% = 0.62 × 0.41 × 6.80%
Sep 30, 2019 2.24% = 0.76 × 0.42 × 7.04%
Jun 30, 2019 2.31% = 0.79 × 0.42 × 6.98%
Mar 31, 2019 2.35% = 0.75 × 0.43 × 7.19%
Dec 31, 2018 2.49% = 0.81 × 0.43 × 7.03%
Sep 30, 2018 — = — × — × —
Jun 30, 2018 — = — × — × —
Mar 31, 2018 — = — × — × —

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 primary reason for the increase in net profit margin ratio over Q3 2023 is the increase in operating profitability measured by EBIT margin ratio.