Financials Iqvia Holdings Inc.

Equities

IQV

US46266C1053

Biotechnology & Medical Research

Market Closed - Nyse Other stock markets 21:00:02 12/12/2024 GMT			5-day change	1st Jan Change
200.37 ^USD	-0.35%		+0.22%	-13.40%

12-12	Truist Trims Price Target on IQVIA Holdings to $261 From $265, Keeps Buy Rating	MT
12-11	TD Cowen Cuts Price Target on IQVIA Holdings to $250 From $255	MT

Projected Income Statement: Iqvia Holdings Inc.

income-statement-evolution-chart IQVIA-HOLDINGS-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	11,088	11,359	13,874	14,410	14,984	15,381	16,117	17,043
Change	-	2.44%	22.14%	3.86%	3.98%	2.65%	4.78%	5.75%
EBITDA ¹	2,400	2,384	3,022	3,346	3,569	3,684	3,868	4,138
Change	-	-0.67%	26.76%	10.72%	6.66%	3.24%	4.97%	6.98%
EBIT ¹	2,112	2,030	2,591	2,779	3,050	3,116	3,302	3,536
Change	-	-3.88%	27.64%	7.26%	9.75%	2.17%	5.97%	7.09%
Interest Paid ¹	-438	-410	-369	-403	-636	-623.1	-658.4	-646.2
Earnings before Tax (EBT) ¹	352	373	1,128	1,363	1,459	1,615	1,848	2,168
Change	-	5.97%	202.41%	20.83%	7.04%	10.7%	14.41%	17.35%
Net income ¹	191	279	966	1,091	1,358	1,332	1,503	1,747
Change	-	46.07%	246.24%	12.94%	24.47%	-1.93%	12.82%	16.28%
Announcement Date	12/02/20	10/02/21	15/02/22	10/02/23	14/02/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	2,895	2,754	2,521	2,786	3,298	3,409	3,438	3,391	3,636	3,568	3,541	3,562	3,739	3,652	3,728	3,736	3,868	3,737	3,814	3,896	3,930	3,878	3,985	4,049	4,172	4,130	4,217	4,299
Change	-	-4.87%	-8.46%	10.51%	18.38%	3.37%	0.85%	-1.37%	7.23%	-1.87%	-0.76%	0.59%	4.97%	-2.33%	2.08%	0.21%	3.53%	-3.39%	2.06%	2.15%	0.88%	-1.34%	2.77%	1.6%	3.04%	-1.01%	2.1%	1.94%
EBITDA ¹	642	562	483	604	735	744	722	728	828	812	800	814	920	851	864	888	966	862	887	939	995.6	888.3	921.8	989.1	1,062	991	1,024	1,046
Change	-	-12.46%	-14.06%	25.05%	21.69%	1.22%	-2.96%	0.83%	13.74%	-1.93%	-1.48%	1.75%	13.02%	-7.5%	1.53%	2.78%	8.78%	-10.77%	2.9%	5.86%	6.03%	-10.78%	3.78%	7.3%	7.39%	-6.71%	3.33%	2.15%
EBIT ¹	566	485	401	511	633	646	618	623	704	691	682	694	712	721	737	747	821	738	751	788	846.9	766.1	793.1	840.4	914.9	830.6	863.8	913.5
Change	-	-14.31%	-17.32%	27.43%	23.87%	2.05%	-4.33%	0.81%	13%	-1.85%	-1.3%	1.76%	2.59%	1.26%	2.22%	1.36%	9.91%	-10.11%	1.76%	4.93%	7.48%	-9.55%	3.53%	5.97%	8.86%	-9.21%	4%	5.75%
Charge d'intérêts ¹	-107	-106	-107	-100	-98	-98	-93	-90	-88	-85	-92	-104	-122	-135	-165	-167	-169	-155	-151	-157	-158.7	-160.5	-161.5	-161	-160.5	-	-	-
Earnings before Tax (EBT) ¹	96	102	-25	102	194	257	222	273	376	400	328	360	275	362	375	349	373	340	436	349	488.2	392.2	418.5	456.5	531.5	464.5	490.5	520
Change	-	6.25%	-	-	90.2%	32.47%	-13.62%	22.97%	37.73%	6.38%	-18%	9.76%	-23.61%	31.64%	3.59%	-6.93%	6.88%	-8.85%	28.24%	-19.95%	39.9%	-19.66%	6.69%	9.08%	16.43%	-12.61%	5.6%	6.01%
Net income ¹	16	82	-23	101	119	212	175	261	318	325	256	283	227	289	297	303	469	288	363	285	385.9	317.2	339.2	370.2	431.2	373.5	396	421
Change	-	412.5%	-	-	17.82%	78.15%	-17.45%	49.14%	21.84%	2.2%	-21.23%	10.55%	-19.79%	27.31%	2.77%	2.02%	54.79%	-38.59%	26.04%	-21.49%	35.42%	-17.8%	6.93%	9.14%	16.48%	-13.39%	6.02%	6.31%
Announcement Date	12/02/20	28/04/20	22/07/20	20/10/20	10/02/21	22/04/21	27/07/21	21/10/21	15/02/22	27/04/22	21/07/22	26/10/22	10/02/23	27/04/23	01/08/23	01/11/23	14/02/24	02/05/24	22/07/24	31/10/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Iqvia Holdings Inc.

balance-sheet-analysis-chart IQVIA-HOLDINGS-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	10,808	10,631	10,759	11,531	12,297	12,389	11,717	10,521
Change	-	-1.64%	1.2%	7.18%	6.64%	0.75%	-5.42%	-10.21%
Announcement Date	12/02/20	10/02/21	15/02/22	10/02/23	14/02/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Iqvia Holdings Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	582	616	640	674	649	633.3	660.7	709.4
Change	-	5.84%	3.9%	5.31%	-3.71%	-2.43%	4.33%	7.37%
Free Cash Flow (FCF) ¹	835	1,343	2,302	1,586	1,500	1,892	2,137	2,517
Change	-	60.84%	71.41%	-31.1%	-5.42%	26.13%	12.95%	17.78%
Announcement Date	12/02/20	10/02/21	15/02/22	10/02/23	14/02/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Iqvia Holdings Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	21.65%	20.99%	21.78%	23.22%	23.82%	23.95%	24%	24.28%
EBIT Margin (%)	19.05%	17.87%	18.68%	19.29%	20.36%	20.26%	20.49%	20.75%
EBT Margin (%)	3.17%	3.28%	8.13%	9.46%	9.74%	10.5%	11.47%	12.72%
Net margin (%)	1.72%	2.46%	6.96%	7.57%	9.06%	8.66%	9.32%	10.25%
FCF margin (%)	7.53%	11.82%	16.59%	11.01%	10.01%	12.3%	13.26%	14.77%
FCF / Net Income (%)	437.17%	481.36%	238.3%	145.37%	110.46%	142.05%	142.22%	144.05%
Profitability
ROA	5.57%	1.17%	7.15%	7.74%	5.22%	6.06%	6.51%	7.38%
ROE	20.07%	20.86%	29.23%	32.81%	32.01%	31.7%	30.98%	31.54%
Financial Health
Leverage (Debt/EBITDA)	4.5x	4.46x	3.56x	3.45x	3.45x	3.36x	3.03x	2.54x
Debt / Free cash flow	12.94x	7.92x	4.67x	7.27x	8.2x	6.55x	5.48x	4.18x
Capital Intensity
CAPEX / Current Assets (%)	5.25%	5.42%	4.61%	4.68%	4.33%	4.12%	4.1%	4.16%
CAPEX / EBITDA (%)	24.25%	25.84%	21.18%	20.14%	18.18%	17.19%	17.08%	17.14%
CAPEX / FCF (%)	69.7%	45.87%	27.8%	42.5%	43.27%	33.47%	30.92%	28.18%
Items per share
Cash flow per share ¹	7.1	10.05	15.09	11.86	11.54	14.79	16.08	18.77
Change	-	41.5%	50.18%	-21.41%	-2.67%	28.15%	8.74%	16.73%
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	31.22	31.39	30.98	31.04	32.81	37.06	41.15	46.88
Change	-	0.55%	-1.29%	0.19%	5.68%	12.95%	11.03%	13.94%
EPS ¹	0.96	1.43	4.95	5.72	7.29	7.34	8.239	9.448
Change	-	48.96%	246.15%	15.56%	27.45%	0.69%	12.25%	14.67%
Nbr of stocks (in thousands)	194,038	191,726	191,040	185,740	182,500	181,500	181,500	181,500
Announcement Date	12/02/20	10/02/21	15/02/22	10/02/23	14/02/24	-	-	-