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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: Liabilities and Stockholders’ Equity
Quarterly Data

IQVIA Holdings Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
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
Accounts payable and accrued expenses 12.06 11.55 12.21 13.09 12.27 11.66 11.28 12.07 11.08 11.51 11.52 11.45 10.32 9.90 10.33 10.80 9.57 9.27 9.18 10.18 9.61 8.83 8.80
Unearned income 7.08 7.08 7.10 7.09 7.60 7.41 7.72 7.39 7.60 6.67 6.35 5.10 4.98 4.58 4.49 4.36 4.17 4.05 4.20 4.47 4.37 4.15 4.02
Income taxes payable 0.66 0.80 0.73 0.64 0.51 0.48 0.54 0.55 0.22 0.42 0.55 0.42 0.42 0.44 0.41 0.46 0.54 0.48 0.44 0.44 0.52 0.53 0.46
Current portion of long-term debt 5.04 5.16 5.22 0.60 0.62 0.62 0.36 0.37 0.38 0.61 0.59 0.61 0.60 0.61 0.60 0.43 0.43 0.43 0.43 0.44 0.45 0.45 0.45
Other current liabilities 0.53 0.54 0.61 0.60 0.68 0.73 0.76 0.84 0.89 0.91 0.88 0.99 1.03 1.05 1.10 0.91 0.92 0.91 0.90 0.14 0.07 0.03 0.04
Current liabilities 25.36% 25.13% 25.86% 22.02% 21.69% 20.91% 20.65% 21.23% 20.17% 20.13% 19.90% 18.56% 17.36% 16.58% 16.93% 16.97% 15.62% 15.15% 15.15% 15.67% 15.02% 13.99% 13.77%
Long-term debt, less current portion 47.43 47.75 45.97 49.71 50.54 51.67 50.25 48.74 50.27 50.72 49.42 50.42 51.16 51.61 51.54 49.65 49.99 48.98 48.41 48.37 46.75 46.97 44.51
Deferred income taxes 1.41 1.41 1.64 1.83 2.31 2.02 1.82 1.66 1.24 1.11 1.38 1.38 1.80 2.32 2.68 2.78 2.86 2.91 3.21 3.26 3.26 3.59 3.56
Long-term operating lease liabilities 0.84 0.93 0.99 1.04 1.07 1.17 1.24 1.27 1.34 1.44 1.42 1.51 1.62 1.73 1.59 1.70 1.72 1.73 1.74 0.00 0.00 0.00 0.00
Other liabilities 2.61 2.70 2.49 2.65 2.32 2.31 2.33 2.63 2.73 2.54 2.40 2.58 2.43 2.51 2.13 1.96 1.88 1.84 1.78 1.85 1.80 1.79 1.78
Noncurrent liabilities 52.29% 52.79% 51.09% 55.23% 56.24% 57.17% 55.64% 54.30% 55.58% 55.80% 54.61% 55.88% 57.02% 58.18% 57.93% 56.10% 56.45% 55.45% 55.14% 53.49% 51.82% 52.36% 49.85%
Total liabilities 77.65% 77.92% 76.95% 77.25% 77.93% 78.08% 76.29% 75.53% 75.75% 75.94% 74.51% 74.43% 74.38% 74.76% 74.86% 73.06% 72.07% 70.60% 70.29% 69.16% 66.84% 66.35% 63.62%
Common stock and additional paid-in capital, $0.01 par value 42.32 42.06 42.38 43.01 44.80 44.20 43.03 43.65 44.72 44.68 45.24 45.17 46.44 47.63 47.72 47.52 48.01 47.53 47.28 48.34 48.34 47.89 46.47
Retained earnings 16.26 15.06 14.08 13.16 12.83 11.57 10.28 9.09 8.01 6.95 6.09 5.20 4.86 4.56 4.68 4.29 4.29 4.01 3.74 3.58 3.23 2.94 2.60
Treasury stock, at cost -32.76 -32.12 -30.57 -30.55 -31.85 -30.99 -27.93 -26.62 -26.62 -26.21 -25.45 -25.10 -25.44 -26.16 -26.28 -24.66 -23.87 -22.33 -21.27 -21.15 -18.52 -17.82 -14.89
Accumulated other comprehensive income (loss) -3.48 -2.92 -2.84 -2.87 -3.71 -2.86 -1.68 -1.64 -1.85 -1.37 -1.54 -0.83 -1.33 -1.92 -2.10 -1.34 -1.65 -0.93 -1.13 -0.99 -0.98 -0.46 1.09
Equity attributable to IQVIA Holdings Inc.’s stockholders 22.35% 22.08% 23.05% 22.75% 22.07% 21.92% 23.71% 24.47% 24.25% 24.06% 24.33% 24.43% 24.52% 24.12% 24.01% 25.82% 26.78% 28.28% 28.63% 29.78% 32.07% 32.55% 35.27%
Non-controlling interests 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.16 1.14 1.09 1.13 1.13 1.12 1.15 1.12 1.08 1.06 1.09 1.10 1.11
Total stockholders’ equity 22.35% 22.08% 23.05% 22.75% 22.07% 21.92% 23.71% 24.47% 24.25% 24.06% 25.49% 25.57% 25.62% 25.24% 25.14% 26.94% 27.93% 29.40% 29.71% 30.84% 33.16% 33.65% 36.38%
Total liabilities and stockholders’ equity 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%

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).

An analysis of the common-size balance sheet reveals a progressive shift in the capital structure, characterized by a sustained increase in total liabilities and a corresponding decrease in total stockholders' equity over the observed period.

Liability Trends and Leverage
Total liabilities grew from 63.62% in March 2018 to 77.65% by September 2023. This trend is primarily driven by a consistent reliance on long-term debt, which remained a dominant component of the balance sheet, fluctuating between 44.51% and 51.67% for the majority of the period. While long-term debt levels stabilized in the final quarters, there was a notable increase in the overall proportion of debt relative to assets.
Current Liability Dynamics
Current liabilities exhibited a significant upward trend, rising from 13.77% in March 2018 to 25.36% in September 2023. A critical inflection point occurred in March 2023, where the current portion of long-term debt surged from 0.60% to 5.22%, indicating a shift in debt maturity profiles. Other contributing factors include a steady increase in accounts payable and accrued expenses, which rose from 8.80% to 12.06%, and a growth in unearned income from 4.02% to 7.08%, suggesting an increase in deferred revenue obligations.
Equity Composition and Capital Management
Total stockholders' equity declined from 36.38% in March 2018 to 22.35% in September 2023. This contraction is not a result of operating losses, as retained earnings demonstrated strong and consistent growth, increasing from 2.60% to 16.26%. The decline in total equity is primarily driven by aggressive treasury stock acquisitions, which increased from -14.89% to -32.76% of the total balance sheet. This pattern indicates a strategic prioritization of share buybacks, which has effectively offset the growth in retained earnings and contributed to the reduction of the equity cushion.
Non-Current Obligations and Other Items
Deferred income taxes showed a marked downward trend, decreasing from 3.56% in March 2018 to 1.41% by September 2023. Long-term operating lease liabilities remained relatively low, gradually declining from 1.74% in March 2019 to 0.84% by September 2023. Other non-current liabilities remained relatively stable, fluctuating within a narrow range between 1.78% and 2.73%.

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