Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
IQVIA Holdings Inc., long-term (investment) activity ratios (quarterly data)
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).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio demonstrated relative stability between March 2019 and December 2020, fluctuating mostly within the range of approximately 23.4 to 25.1. Beginning in 2021, there was a noticeable upward trend, with the ratio increasing steadily and peaking near 29.8 by September 2023. This suggests that the company has been generating increasing sales per dollar of net fixed assets over this period, reflecting improved efficiency or higher utilization of fixed assets.
- Net Fixed Asset Turnover (including operating lease, right-of-use asset)
- This adjusted measure started at a significantly lower base compared to the standard net fixed asset turnover, ranging from about 11.0 to 11.9 in 2019 and 2020. From early 2021 onward, the ratio displayed a clear and consistent upward trajectory, rising from 13.2 to 18.8 by September 2023. The steady increase indicates that the inclusion of right-of-use assets has contributed positively to turnover efficiency. The improvement also reflects enhanced management of leased assets in generating revenue.
- Total Asset Turnover
- The total asset turnover ratio exhibited relative consistency with minor fluctuations between 0.46 and 0.48 from 2019 through 2020. Starting in 2021, the ratio increased to around 0.56 to 0.59 before slightly declining to 0.56-0.57 levels by mid and late 2023. Overall, the total asset turnover improved compared to earlier periods, indicating more effective use of total assets in revenue generation. However, the recent slight decline may warrant monitoring to ensure asset efficiency is maintained.
- Equity Turnover
- The equity turnover ratio showed a rising trend from March 2019 (1.59) to mid-2022 (peaking at 2.68). After this peak, there was a slight decline to approximately 2.44-2.56 by September 2023. This pattern suggests that the company initially improved its use of shareholders’ equity to generate sales, though the marginal decrease later in the period might indicate changing leverage or operational dynamics affecting equity utilization.
Net Fixed Asset Turnover
IQVIA Holdings Inc., net fixed asset turnover calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Revenues | 3,736) | 3,728) | 3,652) | 3,739) | 3,562) | 3,541) | 3,568) | 3,636) | 3,391) | 3,438) | 3,409) | 3,298) | 2,786) | 2,521) | 2,754) | 2,895) | 2,769) | 2,740) | 2,684) | ||||||
| Property and equipment, net | 498) | 510) | 520) | 532) | 507) | 529) | 531) | 497) | 485) | 470) | 472) | 482) | 452) | 444) | 445) | 458) | 451) | 458) | 437) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Net fixed asset turnover1 | 29.83 | 28.79 | 27.87 | 27.09 | 28.22 | 26.72 | 26.43 | 27.92 | 27.91 | 27.51 | 25.45 | 23.57 | 24.24 | 24.64 | 25.07 | 24.21 | 24.13 | 23.38 | 24.10 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||
| AbbVie Inc. | 11.18 | 11.33 | 11.51 | 11.76 | 11.82 | 11.57 | 11.18 | 11.00 | 10.75 | 10.41 | 9.67 | — | — | — | — | — | — | — | — | ||||||
| Amgen Inc. | 4.61 | 4.58 | 4.56 | 4.57 | 4.73 | 4.77 | 4.75 | 4.69 | 4.89 | 4.92 | 4.93 | — | — | — | — | — | — | — | — | ||||||
| Bristol-Myers Squibb Co. | 6.93 | 7.11 | 7.30 | 7.38 | 7.74 | 7.90 | 7.77 | 7.67 | 7.75 | 7.66 | 7.43 | — | — | — | — | — | — | — | — | ||||||
| Danaher Corp. | 6.01 | 6.68 | 7.31 | 7.96 | 8.40 | 8.12 | 7.94 | 7.77 | 7.71 | 7.84 | 7.59 | — | — | — | — | — | — | — | — | ||||||
| Eli Lilly & Co. | 2.70 | 2.62 | 2.63 | 2.81 | 3.14 | 3.18 | 3.22 | 3.15 | 3.11 | 3.02 | 2.95 | — | — | — | — | — | — | — | — | ||||||
| Gilead Sciences Inc. | 4.88 | 4.91 | 4.88 | 4.93 | 5.01 | 5.13 | 5.18 | 5.27 | 5.40 | 5.27 | 5.06 | — | — | — | — | — | — | — | — | ||||||
| Johnson & Johnson | 4.65 | 4.37 | 4.58 | 4.79 | 5.29 | 5.21 | 5.07 | 4.95 | 4.95 | 4.79 | 4.59 | — | — | — | — | — | — | — | — | ||||||
| Merck & Co. Inc. | 2.63 | 2.62 | 2.66 | 2.77 | 2.89 | 2.85 | 2.73 | 2.53 | 2.57 | 2.61 | 2.55 | — | — | — | — | — | — | — | — | ||||||
| Pfizer Inc. | 3.88 | 4.48 | 5.46 | 6.17 | 6.47 | 6.64 | 6.12 | 5.46 | 4.79 | 3.89 | 3.31 | — | — | — | — | — | — | — | — | ||||||
| Regeneron Pharmaceuticals Inc. | 3.27 | 3.23 | 3.19 | 3.23 | 3.70 | 3.91 | 4.64 | 4.62 | 3.99 | 3.69 | 2.82 | — | — | — | — | — | — | — | — | ||||||
| Thermo Fisher Scientific Inc. | 4.74 | 4.68 | 4.68 | 4.84 | 5.12 | 5.02 | 4.87 | 4.71 | 5.54 | 5.83 | 5.85 | — | — | — | — | — | — | — | — | ||||||
| Vertex Pharmaceuticals Inc. | 8.59 | 8.47 | 8.28 | 8.06 | 7.78 | 7.59 | 7.18 | 6.92 | 6.84 | 6.54 | 6.51 | — | — | — | — | — | — | — | — | ||||||
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).
1 Q3 2023 Calculation
Net fixed asset turnover
= (RevenuesQ3 2023
+ RevenuesQ2 2023
+ RevenuesQ1 2023
+ RevenuesQ4 2022)
÷ Property and equipment, net
= (3,736 + 3,728 + 3,652 + 3,739)
÷ 498 = 29.83
2 Click competitor name to see calculations.
- Revenues
- The revenue figures exhibit a general upward trend over the analyzed periods, with some fluctuations. Starting at approximately 2,684 million USD in the first quarter of 2019, revenues increased steadily and peaked several times near or above 3,700 million USD in the most recent quarters. Notably, there was a decline in revenues during the middle of 2020, coinciding with a dip to around 2,521 million USD; however, revenues rebounded strongly afterward and demonstrated consistent growth through 2021 to 2023, surpassing previous highs by the end of the period.
- Property and equipment, net
- The net value of property and equipment showed relative stability with minor fluctuations throughout the timeline. Beginning at 437 million USD in early 2019, the asset base experienced moderate increments, especially in 2021 and early 2022, reaching a maximum near 531 million USD. Subsequent periods saw slight decreases, but the overall value remained within a relatively narrow range. This suggests a steady investment in fixed assets with occasional optimization or disposals.
- Net fixed asset turnover
- The ratio reflecting net fixed asset turnover indicates an improving trend in asset efficiency. Starting from approximately 24.1 in Q1 2019, the ratio generally increased, with minor variability, reaching levels close to 29.83 by the latest quarter. The upward slope implies enhanced utilization of fixed assets in generating revenue. The most notable acceleration occurred post-2020, reflecting either improved management of assets, increased revenue relative to asset base, or both.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
IQVIA Holdings Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Revenues | 3,736) | 3,728) | 3,652) | 3,739) | 3,562) | 3,541) | 3,568) | 3,636) | 3,391) | 3,438) | 3,409) | 3,298) | 2,786) | 2,521) | 2,754) | 2,895) | 2,769) | 2,740) | 2,684) | ||||||
| Property and equipment, net | 498) | 510) | 520) | 532) | 507) | 529) | 531) | 497) | 485) | 470) | 472) | 482) | 452) | 444) | 445) | 458) | 451) | 458) | 437) | ||||||
| Operating lease right-of-use assets | 292) | 319) | 325) | 331) | 333) | 370) | 407) | 406) | 404) | 430) | 437) | 471) | 490) | 502) | 489) | 496) | 490) | 498) | 517) | ||||||
| Property and equipment, net (including operating lease, right-of-use asset) | 790) | 829) | 845) | 863) | 840) | 899) | 938) | 903) | 889) | 900) | 909) | 953) | 942) | 946) | 934) | 954) | 941) | 956) | 954) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 18.80 | 17.71 | 17.15 | 16.70 | 17.03 | 15.72 | 14.96 | 15.36 | 15.23 | 14.37 | 13.22 | 11.92 | 11.63 | 11.56 | 11.95 | 11.62 | 11.56 | 11.20 | 11.04 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||||||||||||||||||||
| Vertex Pharmaceuticals Inc. | 6.73 | 6.57 | 6.36 | 6.13 | 5.95 | 5.89 | 5.53 | 5.32 | 5.26 | 4.99 | 4.90 | — | — | — | — | — | — | — | — | ||||||
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).
1 Q3 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (RevenuesQ3 2023
+ RevenuesQ2 2023
+ RevenuesQ1 2023
+ RevenuesQ4 2022)
÷ Property and equipment, net (including operating lease, right-of-use asset)
= (3,736 + 3,728 + 3,652 + 3,739)
÷ 790 = 18.80
2 Click competitor name to see calculations.
The financial data reveals several noteworthy trends over the examined periods concerning revenues, property and equipment values, and net fixed asset turnover.
- Revenues
- Revenue figures exhibit a generally upward trend across the observed quarters. Starting at approximately $2.7 billion in the first quarter of 2019, revenues experienced slight fluctuations during 2019 and the first half of 2020, including a dip around mid-2020. From the third quarter of 2020 onward, revenues recovered and demonstrated consistent growth, peaking near $3.7 billion by late 2023. This pattern suggests resilience and an expansion phase post mid-2020, indicating effective market engagement or operational scaling.
- Property and Equipment, Net
- The net value of property and equipment, including operating lease right-of-use assets, remained relatively stable through 2019 and 2020, fluctuating slightly around $940 million to $950 million. Beginning in 2021, a gradual downward trend is visible, with values decreasing from $909 million early in the year to approximately $790 million by late 2023. This decline may indicate asset disposals, depreciation exceeding acquisition, or a strategic reduction in fixed asset holdings over time.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- The net fixed asset turnover ratio shows a marked and steady increase from around 11.0 in early 2019 to nearly 18.8 by late 2023. This improvement indicates enhanced efficiency in utilizing fixed assets to generate revenues. The acceleration in asset turnover, particularly from 2021 onwards, aligns with the decreasing fixed asset base and rising revenues. It reflects a stronger operational leverage and potentially improved asset management effectiveness.
Total Asset Turnover
IQVIA Holdings Inc., total asset turnover calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Revenues | 3,736) | 3,728) | 3,652) | 3,739) | 3,562) | 3,541) | 3,568) | 3,636) | 3,391) | 3,438) | 3,409) | 3,298) | 2,786) | 2,521) | 2,754) | 2,895) | 2,769) | 2,740) | 2,684) | ||||||
| Total assets | 25,977) | 26,036) | 25,739) | 25,337) | 24,223) | 24,413) | 24,969) | 24,689) | 24,033) | 23,937) | 24,467) | 24,564) | 23,837) | 23,183) | 23,078) | 23,251) | 22,892) | 23,068) | 23,109) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Total asset turnover1 | 0.57 | 0.56 | 0.56 | 0.57 | 0.59 | 0.58 | 0.56 | 0.56 | 0.56 | 0.54 | 0.49 | 0.46 | 0.46 | 0.47 | 0.48 | 0.48 | 0.48 | 0.46 | 0.46 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||
| AbbVie Inc. | 0.40 | 0.41 | 0.42 | 0.42 | 0.41 | 0.40 | 0.40 | 0.38 | 0.37 | 0.36 | 0.33 | — | — | — | — | — | — | — | — | ||||||
| Amgen Inc. | 0.28 | 0.28 | 0.28 | 0.38 | 0.38 | 0.41 | 0.41 | 0.40 | 0.37 | 0.40 | 0.38 | — | — | — | — | — | — | — | — | ||||||
| Bristol-Myers Squibb Co. | 0.49 | 0.48 | 0.49 | 0.48 | 0.48 | 0.47 | 0.46 | 0.42 | 0.41 | 0.40 | 0.38 | — | — | — | — | — | — | — | — | ||||||
| Danaher Corp. | 0.29 | 0.33 | 0.35 | 0.37 | 0.39 | 0.38 | 0.36 | 0.35 | 0.34 | 0.34 | 0.33 | — | — | — | — | — | — | — | — | ||||||
| Eli Lilly & Co. | 0.55 | 0.54 | 0.52 | 0.58 | 0.62 | 0.62 | 0.62 | 0.58 | 0.58 | 0.56 | 0.54 | — | — | — | — | — | — | — | — | ||||||
| Gilead Sciences Inc. | 0.44 | 0.44 | 0.43 | 0.43 | 0.43 | 0.43 | 0.43 | 0.40 | 0.41 | 0.39 | 0.37 | — | — | — | — | — | — | — | — | ||||||
| Johnson & Johnson | 0.53 | 0.47 | 0.47 | 0.51 | 0.55 | 0.54 | 0.53 | 0.52 | 0.51 | 0.51 | 0.49 | — | — | — | — | — | — | — | — | ||||||
| Merck & Co. Inc. | 0.56 | 0.56 | 0.54 | 0.54 | 0.55 | 0.53 | 0.51 | 0.46 | 0.51 | 0.52 | 0.51 | — | — | — | — | — | — | — | — | ||||||
| Pfizer Inc. | 0.32 | 0.36 | 0.48 | 0.51 | 0.51 | 0.52 | 0.50 | 0.45 | 0.39 | 0.33 | 0.29 | — | — | — | — | — | — | — | — | ||||||
| Regeneron Pharmaceuticals Inc. | 0.41 | 0.41 | 0.41 | 0.42 | 0.50 | 0.52 | 0.63 | 0.63 | 0.57 | 0.58 | 0.52 | — | — | — | — | — | — | — | — | ||||||
| Thermo Fisher Scientific Inc. | 0.45 | 0.46 | 0.46 | 0.46 | 0.49 | 0.47 | 0.44 | 0.41 | 0.53 | 0.57 | 0.54 | — | — | — | — | — | — | — | — | ||||||
| Vertex Pharmaceuticals Inc. | 0.44 | 0.47 | 0.49 | 0.49 | 0.52 | 0.54 | 0.56 | 0.56 | 0.57 | 0.55 | 0.53 | — | — | — | — | — | — | — | — | ||||||
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).
1 Q3 2023 Calculation
Total asset turnover
= (RevenuesQ3 2023
+ RevenuesQ2 2023
+ RevenuesQ1 2023
+ RevenuesQ4 2022)
÷ Total assets
= (3,736 + 3,728 + 3,652 + 3,739)
÷ 25,977 = 0.57
2 Click competitor name to see calculations.
The revenue figures exhibit a generally positive trajectory over the observed periods, with some fluctuations. Initially, revenues were relatively stable between approximately $2.68 billion and $2.90 billion in 2019. In 2020, there was a notable dip mid-year to around $2.52 billion, likely reflecting external pressures, followed by a significant rebound to nearly $3.30 billion by year-end. The subsequent years show a continual upward trend, with revenues reaching approximately $3.74 billion by the first quarter of 2023, indicating sustained growth momentum.
Total assets remained largely consistent across the time frame, fluctuating mildly between about $23.0 billion and $25.3 billion. The asset base showed minor increases and decreases but remained within a narrow range, suggesting a relatively stable capital structure without major expansions or contractions in asset holdings. The highest asset value was recorded at the end of 2022 and the beginning of 2023, peaking near $25.7 billion, followed by a slight decrease thereafter.
The total asset turnover ratio improved progressively over the period, reflecting enhanced efficiency in utilizing assets to generate revenue. Starting around 0.46 in early 2019, the ratio increased gradually, reaching approximately 0.56 by the end of 2021. It peaked at 0.59 in the third quarter of 2022 before slightly settling to around 0.57 in the most recent quarters. This upward trend implies better asset utilization and potentially improved operational performance over time.
- Revenue Trends
- Generally increasing with a temporary decline in mid-2020 followed by recovery and sustained growth through early 2023.
- Total Assets
- Relatively stable throughout the periods with modest fluctuation around $23 billion to $25.7 billion without major structural changes.
- Total Asset Turnover
- Consistent improvement in asset efficiency, rising from 0.46 to approximately 0.57, indicating enhanced revenue generation relative to asset base.
Equity Turnover
IQVIA Holdings Inc., equity turnover calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Revenues | 3,736) | 3,728) | 3,652) | 3,739) | 3,562) | 3,541) | 3,568) | 3,636) | 3,391) | 3,438) | 3,409) | 3,298) | 2,786) | 2,521) | 2,754) | 2,895) | 2,769) | 2,740) | 2,684) | ||||||
| Equity attributable to IQVIA Holdings Inc.’s stockholders | 5,805) | 5,748) | 5,932) | 5,765) | 5,347) | 5,352) | 5,919) | 6,042) | 5,829) | 5,760) | 5,953) | 6,001) | 5,846) | 5,591) | 5,542) | 6,003) | 6,131) | 6,523) | 6,615) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Equity turnover1 | 2.56 | 2.55 | 2.44 | 2.50 | 2.68 | 2.64 | 2.37 | 2.30 | 2.32 | 2.24 | 2.02 | 1.89 | 1.87 | 1.96 | 2.01 | 1.85 | 1.77 | 1.64 | 1.59 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||
| AbbVie Inc. | 4.56 | 4.35 | 4.27 | 3.36 | 3.62 | 3.91 | 3.48 | 3.65 | 4.07 | 4.27 | 3.66 | — | — | — | — | — | — | — | — | ||||||
| Amgen Inc. | 3.35 | 3.73 | 4.66 | 6.77 | 6.71 | 10.17 | 26.68 | 3.63 | 2.96 | 2.93 | 2.56 | — | — | — | — | — | — | — | — | ||||||
| Bristol-Myers Squibb Co. | 1.55 | 1.41 | 1.44 | 1.49 | 1.43 | 1.45 | 1.49 | 1.29 | 1.22 | 1.21 | 1.14 | — | — | — | — | — | — | — | — | ||||||
| Danaher Corp. | 0.49 | 0.54 | 0.58 | 0.63 | 0.67 | 0.66 | 0.65 | 0.65 | 0.65 | 0.62 | 0.61 | — | — | — | — | — | — | — | — | ||||||
| Eli Lilly & Co. | 2.86 | 2.67 | 2.47 | 2.68 | 2.90 | 3.40 | 3.14 | 3.15 | 3.58 | 4.15 | 3.69 | — | — | — | — | — | — | — | — | ||||||
| Gilead Sciences Inc. | 1.22 | 1.28 | 1.27 | 1.27 | 1.27 | 1.34 | 1.37 | 1.28 | 1.27 | 1.34 | 1.33 | — | — | — | — | — | — | — | — | ||||||
| Johnson & Johnson | 1.23 | 1.20 | 1.30 | 1.24 | 1.29 | 1.25 | 1.27 | 1.27 | 1.30 | 1.28 | 1.28 | — | — | — | — | — | — | — | — | ||||||
| Merck & Co. Inc. | 1.44 | 1.51 | 1.24 | 1.29 | 1.33 | 1.32 | 1.32 | 1.28 | 1.33 | 1.41 | 1.73 | — | — | — | — | — | — | — | — | ||||||
| Pfizer Inc. | 0.71 | 0.79 | 0.92 | 1.05 | 1.08 | 1.16 | 1.12 | 1.05 | 0.91 | 0.79 | 0.68 | — | — | — | — | — | — | — | — | ||||||
| Regeneron Pharmaceuticals Inc. | 0.53 | 0.53 | 0.53 | 0.54 | 0.64 | 0.69 | 0.83 | 0.86 | 0.78 | 0.82 | 0.77 | — | — | — | — | — | — | — | — | ||||||
| Thermo Fisher Scientific Inc. | 0.96 | 0.99 | 1.04 | 1.02 | 1.01 | 1.01 | 1.00 | 0.96 | 1.01 | 1.04 | 1.02 | — | — | — | — | — | — | — | — | ||||||
| Vertex Pharmaceuticals Inc. | 0.58 | 0.61 | 0.64 | 0.64 | 0.67 | 0.70 | 0.73 | 0.75 | 0.75 | 0.73 | 0.71 | — | — | — | — | — | — | — | — | ||||||
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).
1 Q3 2023 Calculation
Equity turnover
= (RevenuesQ3 2023
+ RevenuesQ2 2023
+ RevenuesQ1 2023
+ RevenuesQ4 2022)
÷ Equity attributable to IQVIA Holdings Inc.’s stockholders
= (3,736 + 3,728 + 3,652 + 3,739)
÷ 5,805 = 2.56
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends related to revenues, equity attributable to stockholders, and equity turnover ratios over the observed periods.
- Revenues
- Revenues displayed a general upward trajectory from March 2019 through September 2023, starting at approximately $2,684 million and increasing to around $3,736 million. Despite some quarterly fluctuations, the increase is evident, with a significant acceleration observed starting in the fourth quarter of 2020. This indicates growth momentum possibly driven by increased business activities or market demand. The data shows consistent revenue growth year-over-year from 2020 onwards, suggesting an expansion phase or effective revenue-generating initiatives during this period.
- Equity Attributable to Stockholders
- The equity attributable to IQVIA Holdings Inc.’s stockholders demonstrated a more volatile pattern compared to revenues. Initial values decreased from $6,615 million in March 2019 to a low point near $5,319 million in mid-2022. This trend suggests pressures on equity, potentially due to higher expenses, dividend distributions, share repurchases, or other capital adjustments. However, starting in late 2022 and continuing into 2023, equity levels exhibited signs of recovery, rising to approximately $5,805 million by September 2023. Overall, the equity base contracted somewhat over the period but showed stabilization and modest growth in the most recent quarters.
- Equity Turnover Ratio
- The equity turnover ratio, representing the efficiency of utilizing equity to generate revenues, increased steadily from 1.59 in the first quarter of 2019 to approximately 2.56 by the third quarter of 2023. This improvement reflects enhanced effectiveness in leveraging equity investments to drive sales. The ratio's upward movement suggests operational improvements, better asset utilization, or favorable market conditions. The growth in equity turnover, alongside rising revenues, indicates a strengthening relationship between equity deployment and revenue generation capacity.
In summary, the company experienced solid revenue growth throughout the analyzed period, accompanied by fluctuations in equity levels with a late-stage recovery. The rising equity turnover ratio emphasizes an enhanced performance in generating revenues from available equity. These trends collectively indicate improving operational efficiency and positive financial momentum in recent quarters.