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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 Balance Sheet: Assets

IQVIA Holdings Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents 4.80 5.53 7.38 3.60 3.95
Trade accounts receivable and unbilled services, net 11.51 10.33 9.81 11.10 10.62
Prepaid expenses 0.60 0.63 0.65 0.59 0.67
Income taxes receivable 0.17 0.23 0.23 0.24 0.31
Investments in debt, equity and other securities 0.37 0.45 0.36 0.27 0.21
Other current assets and receivables 2.21 2.11 2.29 1.94 1.43
Current assets 19.66% 19.29% 20.72% 17.75% 17.18%
Property and equipment, net 2.10 2.01 1.96 1.97 1.92
Finance lease right-of-use assets 0.90 0.75 0.50 0.00 0.00
Property and equipment, net, including finance lease right-of-use assets 3.00% 2.77% 2.46% 1.97% 1.92%
Operating lease right-of-use assets 1.31 1.64 1.92 2.13 0.00
Investments in debt, equity and other securities 0.27 0.31 0.32 0.28 0.18
Investments in unconsolidated affiliates 0.37 0.36 0.34 0.37 0.45
Goodwill 54.94 53.87 51.51 52.29 52.33
Other identifiable intangibles, net 19.02 20.02 21.19 23.72 26.39
Deferred income taxes 0.47 0.50 0.46 0.51 0.48
Deposits and other assets, net 0.96 1.24 1.07 0.98 1.06
Noncurrent assets 80.34% 80.71% 79.28% 82.25% 82.82%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The asset structure is characterized by a heavy concentration of noncurrent assets, which consistently represent approximately 80% or more of the total asset base from 2018 to 2022. This composition indicates an asset-light operational model regarding physical infrastructure, with a primary reliance on intangible value and acquired intellectual property.

Intangible Asset Trends
Intangible assets constitute the vast majority of the total asset base. Goodwill has exhibited a gradual upward trend, increasing from 52.33% of total assets in 2018 to 54.94% in 2022. In contrast, other identifiable intangible assets have experienced a consistent decline, falling from 26.39% in 2018 to 19.02% in 2022, suggesting a pattern of amortization that outweighs new intangible acquisitions.
Liquidity and Current Asset Composition
Current assets remained relatively stable, fluctuating between 17.18% and 20.72%. Cash and cash equivalents showed volatility, peaking at 7.38% in 2020 before settling at 4.80% by the end of 2022. Trade accounts receivable and unbilled services maintained a steady presence, ending the period at 11.51% of total assets, which represents the largest component of the current asset portfolio.
Fixed Assets and Right-of-Use Assets
Physical assets represent a minimal portion of the balance sheet. Property and equipment, net, remained low, shifting slightly from 1.92% to 2.10%. The inclusion of finance lease right-of-use assets resulted in a combined property and equipment value that rose from 1.92% in 2018 to 3.00% in 2022. Meanwhile, operating lease right-of-use assets, which first appeared in the data in 2019 at 2.13%, trended downward to 1.31% by 2022.
Other Asset Components
Other noncurrent components, including deferred income taxes and investments in unconsolidated affiliates, remained marginal and stable, each typically representing less than 1% of total assets. Income taxes receivable also showed a slight downward trajectory, moving from 0.31% in 2018 to 0.17% in 2022.

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