Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2013
- Current Ratio since 2013
- Total Asset Turnover since 2013
- Price to Book Value (P/BV) since 2013
- Price to Sales (P/S) since 2013
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IQVIA Holdings Inc., consolidated cash flow statement (quarterly data)
US$ in millions
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).
- Net Income (Loss)
- The net income exhibits a generally increasing trend over the analyzed periods, starting from around 70 million USD in early 2018 and reaching peaks above 300 million USD by late 2021 and 2023. Notably, there was a downturn in the fourth quarter of 2019 with a significant drop to 20 million USD, followed by fluctuations during 2020, potentially reflecting business challenges during that period. Post-2020, the company demonstrated a recovery and consistent growth in net income.
- Depreciation and Amortization
- Depreciation and amortization expenses have remained relatively stable, fluctuating mostly between 250 and 360 million USD across quarters. A slight decline is noted in 2021-2022, but it spikes again in early 2023. This suggests ongoing asset investments and amortization of intangible assets at a consistent pace.
- Stock-Based Compensation
- Stock-based compensation has experienced variability with some quarters missing data, but overall, there has been an upward movement from around 20-30 million USD in early 2018 to figures exceeding 70 million USD in 2023. This change indicates increasing use of equity compensation over time.
- Benefit from Deferred Income Taxes
- This item shows recurring negative values, indicating deferred tax benefits reducing the tax expense. The magnitude varies widely, with some quarters showing benefits over 80 million USD and others closer to 10 million USD. The inconsistent pattern may reflect changing tax positions or timing differences in recognition of tax assets and liabilities.
- Changes in Operating Assets and Liabilities
- The changes in accounts receivable, unbilled services, and unearned income show significant volatility. Large positive swings occur in mid-2020 and early 2021, with negative shifts noted in several quarters of 2022 and 2023. Similarly, other operating assets and liabilities depict high variability, at times offsetting the former item, leading to notable swings in overall operating asset and liability changes. These fluctuations suggest varying working capital dynamics likely related to business cycles and revenue recognition timing.
- Net Cash Provided by Operating Activities
- This cash flow metric shows a general upward trend from early 2018 through 2023, with significant peaks in 2020 and 2021 surpassing 800 million USD in some quarters. Despite occasional dips, the data indicates strong and generally improving cash flow generation from core operations over time.
- Capital Expenditures and Acquisitions
- Capital expenditures on property, equipment, and software consistently range between 140 to 180 million USD per quarter, with a slight increasing trend toward 2021, followed by relatively stable outlays. Acquisitions, net of cash acquired, show considerable volatility with very high negative values in late 2021 (exceeding 900 million USD), indicating major corporate acquisitions or investments during that period. Other periods experience smaller investment outflows, reflecting sporadic acquisition activity.
- Net Cash Used in Investing Activities
- Investing cash flows consistently reflect substantial negative values, indicative of ongoing investments and acquisitions. The deepest outflows coincide with periods of significant acquisition activity, especially in late 2021 and mid-2022. This pattern portrays a strategic emphasis on growth through acquisitions and capital investments.
- Financing Activities
- Financing cash flow exhibits volatility with alternating inflows and outflows. In numerous quarters, there are proceeds from debt issuance ranging from hundreds of millions to over one billion USD, offset sporadically by sizeable debt repayments and revolving credit facility activities. Repurchase of common stock occurs frequently, with notable volumes especially in 2018, 2019, and 2021, signaling active shareholder return policies. The net effect is variable, with both positive and negative cash flows, suggesting active management of capital structure and shareholder distributions.
- Effect of Foreign Currency Exchange Rate Changes
- The impact of currency exchange fluctuations is modest relative to other cash flow components but consistently both positive and negative across quarters. This pattern indicates the company’s exposure to foreign currencies, influencing cash balance changes moderately.
- Overall Cash and Cash Equivalents Change
- Quarterly changes in cash and equivalents are highly variable, ranging from modest increases to substantial decreases. Positive spikes correspond with strong operating cash flow quarters, while declines align with heavy investing or financing outflows. This volatility highlights the company’s active cash management amid significant investment and capital activities.