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.

Analysis of Solvency Ratios 

Microsoft Excel

Solvency Ratios (Summary)

IQVIA Holdings Inc., solvency ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Debt Ratios
Debt to equity 2.25 2.04 2.11 1.94 1.64
Debt to equity (including operating lease liability) 2.32 2.11 2.20 2.03 1.64
Debt to capital 0.69 0.67 0.68 0.66 0.62
Debt to capital (including operating lease liability) 0.70 0.68 0.69 0.67 0.62
Debt to assets 0.51 0.50 0.52 0.50 0.49
Debt to assets (including operating lease liability) 0.53 0.52 0.54 0.52 0.49
Financial leverage 4.39 4.09 4.09 3.87 3.36
Coverage Ratios
Interest coverage 4.25 4.02 1.91 1.77 1.83
Fixed charge coverage 3.30 3.03 1.61 1.54 1.56

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. IQVIA Holdings Inc. debt to equity ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. IQVIA Holdings Inc. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. IQVIA Holdings Inc. debt to capital ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. IQVIA Holdings Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. IQVIA Holdings Inc. debt to assets ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. IQVIA Holdings Inc. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. IQVIA Holdings Inc. financial leverage ratio decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. IQVIA Holdings Inc. interest coverage ratio improved from 2020 to 2021 and from 2021 to 2022.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. IQVIA Holdings Inc. fixed charge coverage ratio improved from 2020 to 2021 and from 2021 to 2022.

Debt to Equity

IQVIA Holdings Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt 152 91 149 100 100
Current finance lease liabilities 5 9
Long-term debt, less current portion 12,595 12,034 12,384 11,545 10,907
Long-term finance lease liabilities 224 177 122
Total debt 12,976 12,311 12,655 11,645 11,007
 
Equity attributable to IQVIA Holdings Inc.’s stockholders 5,765 6,042 6,001 6,003 6,714
Solvency Ratio
Debt to equity1 2.25 2.04 2.11 1.94 1.64
Benchmarks
Debt to Equity, Competitors2
AbbVie Inc. 3.67 4.98 6.58
Amgen Inc. 10.64 4.97 3.51 3.09
Bristol-Myers Squibb Co. 1.27 1.24 1.34 0.91
Danaher Corp. 0.39 0.49 0.53 0.72
Eli Lilly & Co. 1.52 1.88 2.94 5.88
Gilead Sciences Inc. 1.19 1.27 1.73 1.09
Johnson & Johnson 0.52 0.46 0.56 0.47
Merck & Co. Inc. 0.67 0.87 1.26 1.02
Moderna Inc. 0.06 0.05 0.05 0.03
Pfizer Inc. 0.37 0.50 0.63 0.83
Regeneron Pharmaceuticals Inc. 0.12 0.14 0.24 0.06
Thermo Fisher Scientific Inc. 0.78 0.85 0.63 0.60
Debt to Equity, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.79 0.92 1.14 1.10
Debt to Equity, Industry
Health Care 0.72 0.78 0.90 0.91

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Debt to equity = Total debt ÷ Equity attributable to IQVIA Holdings Inc.’s stockholders
= 12,976 ÷ 5,765 = 2.25

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. IQVIA Holdings Inc. debt to equity ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Debt to Equity (including Operating Lease Liability)

IQVIA Holdings Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt 152 91 149 100 100
Current finance lease liabilities 5 9
Long-term debt, less current portion 12,595 12,034 12,384 11,545 10,907
Long-term finance lease liabilities 224 177 122
Total debt 12,976 12,311 12,655 11,645 11,007
Current operating lease liabilities (included in Other current liabilities) 111 140 156 153
Long-term operating lease liabilities 264 313 371 396
Total debt (including operating lease liability) 13,351 12,764 13,182 12,194 11,007
 
Equity attributable to IQVIA Holdings Inc.’s stockholders 5,765 6,042 6,001 6,003 6,714
Solvency Ratio
Debt to equity (including operating lease liability)1 2.32 2.11 2.20 2.03 1.64
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
AbbVie Inc. 3.72 5.03 6.66
Amgen Inc. 10.83 5.07 3.55 3.15
Bristol-Myers Squibb Co. 1.31 1.27 1.37 0.92
Danaher Corp. 0.41 0.52 0.56 0.74
Eli Lilly & Co. 1.59 1.96 3.06 6.11
Gilead Sciences Inc. 1.22 1.30 1.76 1.12
Johnson & Johnson 0.53 0.47 0.57 0.48
Merck & Co. Inc. 0.70 0.91 1.32 1.06
Moderna Inc. 0.06 0.06 0.09 0.12
Pfizer Inc. 0.41 0.54 0.65 0.85
Regeneron Pharmaceuticals Inc. 0.12 0.15 0.25 0.07
Thermo Fisher Scientific Inc. 0.82 0.89 0.65 0.62
Debt to Equity (including Operating Lease Liability), Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.82 0.95 1.17 1.13
Debt to Equity (including Operating Lease Liability), Industry
Health Care 0.77 0.84 0.96 0.97

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Equity attributable to IQVIA Holdings Inc.’s stockholders
= 13,351 ÷ 5,765 = 2.32

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. IQVIA Holdings Inc. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Debt to Capital

IQVIA Holdings Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt 152 91 149 100 100
Current finance lease liabilities 5 9
Long-term debt, less current portion 12,595 12,034 12,384 11,545 10,907
Long-term finance lease liabilities 224 177 122
Total debt 12,976 12,311 12,655 11,645 11,007
Equity attributable to IQVIA Holdings Inc.’s stockholders 5,765 6,042 6,001 6,003 6,714
Total capital 18,741 18,353 18,656 17,648 17,721
Solvency Ratio
Debt to capital1 0.69 0.67 0.68 0.66 0.62
Benchmarks
Debt to Capital, Competitors2
AbbVie Inc. 0.79 0.83 0.87 1.14
Amgen Inc. 0.91 0.83 0.78 0.76
Bristol-Myers Squibb Co. 0.56 0.55 0.57 0.48
Danaher Corp. 0.28 0.33 0.35 0.42
Eli Lilly & Co. 0.60 0.65 0.75 0.85
Gilead Sciences Inc. 0.54 0.56 0.63 0.52
Johnson & Johnson 0.34 0.31 0.36 0.32
Merck & Co. Inc. 0.40 0.46 0.56 0.50
Moderna Inc. 0.05 0.05 0.05 0.03
Pfizer Inc. 0.27 0.33 0.39 0.45
Regeneron Pharmaceuticals Inc. 0.11 0.13 0.20 0.06
Thermo Fisher Scientific Inc. 0.44 0.46 0.39 0.37
Debt to Capital, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.44 0.48 0.53 0.52
Debt to Capital, Industry
Health Care 0.42 0.44 0.47 0.48

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= 12,976 ÷ 18,741 = 0.69

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. IQVIA Holdings Inc. debt to capital ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Debt to Capital (including Operating Lease Liability)

IQVIA Holdings Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt 152 91 149 100 100
Current finance lease liabilities 5 9
Long-term debt, less current portion 12,595 12,034 12,384 11,545 10,907
Long-term finance lease liabilities 224 177 122
Total debt 12,976 12,311 12,655 11,645 11,007
Current operating lease liabilities (included in Other current liabilities) 111 140 156 153
Long-term operating lease liabilities 264 313 371 396
Total debt (including operating lease liability) 13,351 12,764 13,182 12,194 11,007
Equity attributable to IQVIA Holdings Inc.’s stockholders 5,765 6,042 6,001 6,003 6,714
Total capital (including operating lease liability) 19,116 18,806 19,183 18,197 17,721
Solvency Ratio
Debt to capital (including operating lease liability)1 0.70 0.68 0.69 0.67 0.62
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
AbbVie Inc. 0.79 0.83 0.87 1.14
Amgen Inc. 0.92 0.84 0.78 0.76
Bristol-Myers Squibb Co. 0.57 0.56 0.58 0.48
Danaher Corp. 0.29 0.34 0.36 0.43
Eli Lilly & Co. 0.61 0.66 0.75 0.86
Gilead Sciences Inc. 0.55 0.56 0.64 0.53
Johnson & Johnson 0.35 0.32 0.36 0.33
Merck & Co. Inc. 0.41 0.48 0.57 0.51
Moderna Inc. 0.06 0.06 0.08 0.10
Pfizer Inc. 0.29 0.35 0.39 0.46
Regeneron Pharmaceuticals Inc. 0.11 0.13 0.20 0.07
Thermo Fisher Scientific Inc. 0.45 0.47 0.40 0.38
Debt to Capital (including Operating Lease Liability), Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.45 0.49 0.54 0.53
Debt to Capital (including Operating Lease Liability), Industry
Health Care 0.44 0.46 0.49 0.49

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 13,351 ÷ 19,116 = 0.70

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. IQVIA Holdings Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Debt to Assets

IQVIA Holdings Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt 152 91 149 100 100
Current finance lease liabilities 5 9
Long-term debt, less current portion 12,595 12,034 12,384 11,545 10,907
Long-term finance lease liabilities 224 177 122
Total debt 12,976 12,311 12,655 11,645 11,007
 
Total assets 25,337 24,689 24,564 23,251 22,549
Solvency Ratio
Debt to assets1 0.51 0.50 0.52 0.50 0.49
Benchmarks
Debt to Assets, Competitors2
AbbVie Inc. 0.46 0.52 0.57 0.75
Amgen Inc. 0.60 0.54 0.52 0.50
Bristol-Myers Squibb Co. 0.41 0.41 0.43 0.36
Danaher Corp. 0.23 0.27 0.28 0.35
Eli Lilly & Co. 0.33 0.35 0.36 0.39
Gilead Sciences Inc. 0.40 0.39 0.46 0.40
Johnson & Johnson 0.21 0.19 0.20 0.18
Merck & Co. Inc. 0.28 0.31 0.35 0.31
Moderna Inc. 0.04 0.03 0.02 0.02
Pfizer Inc. 0.18 0.21 0.26 0.31
Regeneron Pharmaceuticals Inc. 0.09 0.11 0.16 0.05
Thermo Fisher Scientific Inc. 0.35 0.37 0.31 0.30
Debt to Assets, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.30 0.32 0.36 0.36
Debt to Assets, Industry
Health Care 0.27 0.28 0.30 0.31

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Debt to assets = Total debt ÷ Total assets
= 12,976 ÷ 25,337 = 0.51

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. IQVIA Holdings Inc. debt to assets ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Debt to Assets (including Operating Lease Liability)

IQVIA Holdings Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt 152 91 149 100 100
Current finance lease liabilities 5 9
Long-term debt, less current portion 12,595 12,034 12,384 11,545 10,907
Long-term finance lease liabilities 224 177 122
Total debt 12,976 12,311 12,655 11,645 11,007
Current operating lease liabilities (included in Other current liabilities) 111 140 156 153
Long-term operating lease liabilities 264 313 371 396
Total debt (including operating lease liability) 13,351 12,764 13,182 12,194 11,007
 
Total assets 25,337 24,689 24,564 23,251 22,549
Solvency Ratio
Debt to assets (including operating lease liability)1 0.53 0.52 0.54 0.52 0.49
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
AbbVie Inc. 0.46 0.53 0.58 0.75
Amgen Inc. 0.61 0.56 0.53 0.51
Bristol-Myers Squibb Co. 0.42 0.42 0.44 0.37
Danaher Corp. 0.25 0.28 0.29 0.36
Eli Lilly & Co. 0.34 0.36 0.37 0.41
Gilead Sciences Inc. 0.41 0.40 0.47 0.41
Johnson & Johnson 0.22 0.19 0.21 0.18
Merck & Co. Inc. 0.29 0.33 0.37 0.32
Moderna Inc. 0.05 0.04 0.03 0.09
Pfizer Inc. 0.20 0.23 0.27 0.32
Regeneron Pharmaceuticals Inc. 0.09 0.11 0.16 0.05
Thermo Fisher Scientific Inc. 0.37 0.38 0.33 0.32
Debt to Assets (including Operating Lease Liability), Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.31 0.33 0.37 0.36
Debt to Assets (including Operating Lease Liability), Industry
Health Care 0.29 0.30 0.32 0.33

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 13,351 ÷ 25,337 = 0.53

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. IQVIA Holdings Inc. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Financial Leverage

IQVIA Holdings Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Total assets 25,337 24,689 24,564 23,251 22,549
Equity attributable to IQVIA Holdings Inc.’s stockholders 5,765 6,042 6,001 6,003 6,714
Solvency Ratio
Financial leverage1 4.39 4.09 4.09 3.87 3.36
Benchmarks
Financial Leverage, Competitors2
AbbVie Inc. 8.04 9.51 11.51
Amgen Inc. 17.79 9.13 6.69 6.17
Bristol-Myers Squibb Co. 3.12 3.04 3.13 2.52
Danaher Corp. 1.68 1.84 1.92 2.05
Eli Lilly & Co. 4.65 5.44 8.27 15.07
Gilead Sciences Inc. 2.97 3.23 3.76 2.74
Johnson & Johnson 2.44 2.46 2.76 2.65
Merck & Co. Inc. 2.37 2.77 3.62 3.26
Moderna Inc. 1.35 1.74 2.86 1.35
Pfizer Inc. 2.06 2.35 2.44 2.65
Regeneron Pharmaceuticals Inc. 1.29 1.36 1.56 1.34
Thermo Fisher Scientific Inc. 2.21 2.33 2.00 1.97
Financial Leverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences 2.61 2.85 3.20 3.10
Financial Leverage, Industry
Health Care 2.66 2.77 2.95 2.93

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Financial leverage = Total assets ÷ Equity attributable to IQVIA Holdings Inc.’s stockholders
= 25,337 ÷ 5,765 = 4.39

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. IQVIA Holdings Inc. financial leverage ratio decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Interest Coverage

IQVIA Holdings Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net income attributable to IQVIA Holdings Inc. 1,091 966 279 191 259
Add: Net income attributable to noncontrolling interest 5 29 36 25
Add: Income tax expense 260 163 72 116 59
Add: Interest expense 416 375 416 447 414
Earnings before interest and tax (EBIT) 1,767 1,509 796 790 757
Solvency Ratio
Interest coverage1 4.25 4.02 1.91 1.77 1.83
Benchmarks
Interest Coverage, Competitors2
AbbVie Inc. 7.04 6.36 2.38 5.72
Amgen Inc. 6.22 6.60 7.44 8.09
Bristol-Myers Squibb Co. 7.26 7.07 -3.84 8.58
Danaher Corp. 40.30 32.92 17.35 31.44
Eli Lilly & Co. 21.53 19.12 21.11 14.15
Gilead Sciences Inc. 7.22 9.27 2.70 6.19
Johnson & Johnson 79.71 125.46 83.07 55.49
Merck & Co. Inc. 18.09 18.22 11.58 13.84
Moderna Inc. 331.17 739.06 -74.31 -76.85
Pfizer Inc. 29.05 19.83 6.17 12.23
Regeneron Pharmaceuticals Inc. 82.80 163.75 67.97 81.43
Thermo Fisher Scientific Inc. 11.56 17.49 14.07 7.02
Interest Coverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences 15.99 16.09 7.20 11.16
Interest Coverage, Industry
Health Care 12.97 12.85 7.67 8.84

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Interest coverage = EBIT ÷ Interest expense
= 1,767 ÷ 416 = 4.25

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. IQVIA Holdings Inc. interest coverage ratio improved from 2020 to 2021 and from 2021 to 2022.

Fixed Charge Coverage

IQVIA Holdings Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Net income attributable to IQVIA Holdings Inc. 1,091 966 279 191 259
Add: Net income attributable to noncontrolling interest 5 29 36 25
Add: Income tax expense 260 163 72 116 59
Add: Interest expense 416 375 416 447 414
Earnings before interest and tax (EBIT) 1,767 1,509 796 790 757
Add: Operating lease cost 171 184 209 193 197
Earnings before fixed charges and tax 1,938 1,693 1,005 983 954
 
Interest expense 416 375 416 447 414
Operating lease cost 171 184 209 193 197
Fixed charges 587 559 625 640 611
Solvency Ratio
Fixed charge coverage1 3.30 3.03 1.61 1.54 1.56
Benchmarks
Fixed Charge Coverage, Competitors2
AbbVie Inc. 6.54 5.90 2.28 5.42
Amgen Inc. 5.52 5.67 6.48 7.12
Bristol-Myers Squibb Co. 6.30 6.01 -3.08 7.10
Danaher Corp. 13.41 10.85 7.10 8.38
Eli Lilly & Co. 15.17 13.33 15.06 10.18
Gilead Sciences Inc. 6.30 8.15 2.45 5.46
Johnson & Johnson 38.72 48.16 33.93 28.72
Merck & Co. Inc. 13.69 13.08 8.47 10.31
Moderna Inc. 125.35 317.31 -26.75 -20.79
Pfizer Inc. 18.79 14.22 4.98 9.88
Regeneron Pharmaceuticals Inc. 68.67 138.96 57.70 60.98
Thermo Fisher Scientific Inc. 8.12 12.19 10.30 5.61
Fixed Charge Coverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences 12.28 12.38 5.83 8.93
Fixed Charge Coverage, Industry
Health Care 9.19 9.09 5.67 6.58

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 1,938 ÷ 587 = 3.30

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. IQVIA Holdings Inc. fixed charge coverage ratio improved from 2020 to 2021 and from 2021 to 2022.