Stock Analysis on Net
Stock Analysis on Net

IQVIA Holdings Inc. (NYSE:IQV)

$22.49

This company has been moved to the archive! The financial data has not been updated since November 1, 2023.

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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IQVIA Holdings Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: 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
Revenues
Cost of revenues, exclusive of depreciation and amortization
Gross profit
Selling, general and administrative expenses
Depreciation and amortization
Restructuring costs
Income from operations
Interest income
Interest expense
Loss on extinguishment of debt
Other income (expense), net
Income (loss) before income taxes and equity in earnings (losses) of unconsolidated affiliates
Income tax (expense) benefit
Income (loss) before equity in earnings (losses) of unconsolidated affiliates
Equity in earnings (losses) of unconsolidated affiliates
Net income (loss)
Net income attributable to non-controlling interests
Net income (loss) attributable to IQVIA Holdings Inc.

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).

Revenue Trends
Revenues exhibited a generally upward trend from March 2018 through December 2021, rising from approximately $2,563 million to $3,636 million by the end of 2021. A slight decline was observed in the first half of 2022, followed by stabilization and modest growth reaching $3,736 million by September 2023. Quarterly fluctuations are evident with some seasonal variation but the overall trajectory indicates growth over the entire period.
Cost and Gross Profit Patterns
The cost of revenues excluding depreciation and amortization rose steadily from about $1,652 million in early 2018 to a peak near $2,407 million in late 2022. A corresponding gross profit trend showed initial volatility but generally increased in line with revenues, reaching a high of around $1,272 million by the end of 2021 and stabilizing just above $1,300 million toward the latest quarters. The margin, implied by gross profit relative to revenue, remained fairly stable though a slight compression in some recent periods suggests increasing cost pressure.
Selling, General and Administrative Expenses
SG&A expenses fluctuated between approximately $395 million to $583 million over the analyzed timeframe. Notably, a peak occurred near $583 million at the end of 2022, with some retrenchment afterwards. This category shows increased spending in recent years, which could indicate strategic investment or inflation-related cost pressures.
Depreciation and Amortization
Depreciation and amortization expenses remained relatively stable, generally fluctuating around $280 million to $350 million per quarter with no consistent upwards or downwards trend. A notable dip occurred at the end of 2021 before rising again toward late 2022 and 2023, indicating some potential changes in asset base or amortization schedules.
Restructuring Costs
Restructuring costs experienced episodic spikes but remained comparatively low relative to other expense categories, with minor increases in late 2019 and a peak of $30 million in the last reported quarter in 2023. The pattern suggests periodic operational adjustments without sustained heavy restructuring activity.
Income from Operations
Operating income showed growth from $183 million in early 2018 to a peak of $495 million by mid-2022. Some volatility is present, particularly in 2020 where a dip to $62 million followed a recovery by year-end. The upward trend in operating income reflects effective management of revenues and costs despite periodic challenges.
Interest Income and Expense
Interest income remained negligible but showed a minor increasing trend into 2023, reaching $14 million. Conversely, interest expense gradually increased from about $96 million to $181 million, particularly accelerating from 2021 onward, indicating growing debt levels or rising interest rates impacting financing costs.
Non-Operating Items
Occasional losses on extinguishment of debt appeared sporadically with moderate impact. Other income (expense), net, demonstrated variability with both positive and negative swings; notable positive spikes occurred intermittently, possibly reflecting gains or reversals of losses from non-core activities.
Income Before Taxes and Equity Earnings
Income before income taxes and equity in earnings increased from about $85 million in early 2018 to a peak of over $400 million by mid-2022, before moderating slightly in 2023. The trajectory mirrors operating income growth tempered by interest expense and non-operating items.
Income Taxes
Income tax expenses showed considerable variability, including a few quarters with tax benefits (negative expenses). This pattern may reflect fluctuations in taxable income, changes in tax rates, or benefits from tax planning strategies. Generally, tax expenses increased in line with pre-tax income, with some irregularities.
Net Income
Net income attributable to the company increased substantially from approximately $60 million per quarter in early 2018 to peaks exceeding $300 million in 2022 and 2023. Some quarters showed losses or sharp declines, specifically during the mid-2020 period likely impacted by external disruptions. Overall, the trend indicates robust profitability growth over the period analyzed.
Summary
The financial data reveals growth in revenues and bottom-line profitability over the six-year period despite intermittent volatility and external shocks. Costs increased but were generally managed to allow expanding operating income margins. Interest expenses rose, suggesting increased leverage or costs of borrowing. Tax expenses and non-operating items contributed fluctuations to net earnings. The company demonstrated resilience with a positive long-term trend in financial performance and profitability.