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Companies $IQV
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IQVIA Holdings Inc logo

IQVIA Holdings Inc

ir.iqvia.com

What Do They Do?

Provides outsourced clinical research and clinical-trial services to biopharmaceutical companies, alongside healthcare data and technology solutions and commercial services for life sciences and healthcare organizations.

How Do They Make Money?

Biopharmaceutical clients pay for clinical-trial services as the work progresses. Technology and information customers pay over subscriptions or when data is delivered, while project and sales-support services are paid for as work is performed.

revenue
SegmentShareRevenue
Technology & Analytics Solutions
Mix

41%
FY2022: 40%
Research & Development Solutions
Recurring

55%
FY2022: 55%
Contract Sales & Medical Solutions
Recurring
4.8%
FY2022: 5.2%

Who Are Their Customers?

Most sales are to life-sciences companies, including pharmaceutical and biotechnology businesses. Other customers include healthcare organizations and public agencies, with distributors and pharmacies also among the client base.

Do Revenues Turn Into Profits?

Yes. It kept 8 cents of every revenue dollar as net income in FY2025 and turned 13 cents into free cash flow.

Operating income, FY2025
13% of revenue
▼ −1% vs FY2024 ($2.2B, 14%)
Net income, FY2025
8% of revenue
▼ −1% vs FY2024 ($1.4B, 9%)
Free cash flow, FY2025
13% of revenue
▼ −3% vs FY2024 ($2.1B, 14%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +9%
vs $4B in Q2 FY2025
Net income
▼ −4%
vs $266M in Q2 FY2025
Research & Development Solutions share of revenue vs 58.9% in Q2 FY2025
  • Jul 28, 2026 Raised full-year guidance for revenue and adjusted earnings

Growing. Revenue grew 18% in 4 years, from $13.9B in FY2021 to $16.3B in FY2025, about 4% a year.

Revenue over time
Technology & Analytics Solutions Research & Development Solutions Contract Sales & Medical Solutions
$20B$10B$0

Who Do They Compete With?

Competes with Accenture, Aetion, Panalgo, Cognizant Technology Solutions, Deloitte, Thermo Fisher Scientific, Relx, IBM, Infosys, Oracle Health, McKinsey, NielsenIQ, UnitedHealth Group, Parexel International, Press Ganey, RTI Health Solutions, ICON, Definitive Healthcare, Cegedim, and Tempus

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