IQVIA HOLDINGS INC.
IQV · Services-Commercial Physical & Biological Research · 166.9M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $775M (gross $992M, SBC $217M)
Reference price $222.43 · est. market cap ~$37.1B — last insider sale, 2025-12-18 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B74CRO/health-data-analytics giant — profitable with scale, but high leverage and thin liquidity.
Strengths
- Profitable with scale — operating margin 13% (76th), ROE 21% (64th), OCF margin 16%
- Durable CRO + data/analytics franchise — per 10-K
Risks
- High leverage — D/E 2.1 (91st), interest coverage 3.0
- Thin liquidity — current ratio 0.7 (53rd)
- Biopharma R&D-spend cyclicality — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- High leverageHigh leverage (debt/equity 2.14)
- Weak liquidityCurrent ratio 0.75 (<1)
- Customer concentration~30% of revenue from one customer/distributor — Foreign Currency Translation In 2025, approximately 30% of our revenues were denominated in currencies other than the United States dollar, which represents approximately 60 currencies
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, Appaloosa LP
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, FMR LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
13.4%
Net margin
8.3%
Return on equity
20.9%
Return on assets
4.5%
ROIC
8.5%
Revenue growth (QoQ)
-4.9%
Net-income growth
-0.9%
Debt / equity
2.1×
Net debt / EBITDA
3.5×
Interest coverage
3.0×
Current ratio
0.7×
EBITDA
$3.3B
Tangible book value
-$15.1B
Cash & investments
$2.1B
Stock comp / revenue
1.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-23 | DANHAKL JOHN G | Grant | 1.6K | — |
| 2026-04-23 | Burt Carol | Grant | 1.6K | — |
| 2026-04-23 | LEONARD JOHN M | Grant | 1.6K | — |
| 2026-04-23 | GOGGINS COLLEEN A | Grant | 1.6K | — |
| 2026-02-13 | Haas Bernd | Tax withheld | 20 | $166.94 |
| 2026-02-13 | Fedock Michael J. | Tax withheld | 123 | $166.94 |
| 2026-02-08 | BOUSBIB ARI | Grant | 57K | — |
| 2026-02-08 | Haas Bernd | Grant | 8.3K | — |
| 2026-02-08 | Haas Bernd | Tax withheld | 440 | $187.49 |
| 2026-02-08 | Berkshire James G. | Tax withheld | 1.3K | $187.49 |
| 2026-02-08 | BOUSBIB ARI | Tax withheld | 28K | $187.49 |
| 2026-02-08 | Grenfell Alistair | Grant | 12K | — |
| 2026-02-08 | Grenfell Alistair | Tax withheld | 5.5K | $187.49 |
| 2026-02-08 | Fedock Michael J. | Grant | 6.7K | — |
| 2026-02-08 | Fedock Michael J. | Tax withheld | 2.4K | $187.49 |
| 2026-02-08 | Patel Bhavik | Grant | 4.1K | — |
| 2026-02-08 | Patel Bhavik | Tax withheld | 1.9K | $187.49 |
| 2026-02-08 | Sherbet Eric | Grant | 6.8K | — |
| 2026-02-08 | Sherbet Eric | Tax withheld | 1.9K | $187.49 |
| 2026-02-08 | STAUB W RICHARD | Grant | 2.7K | — |
| 2026-02-08 | STAUB W RICHARD | Tax withheld | 806 | $187.49 |
| 2026-02-08 | Cherofsky Keriann | Grant | 1.1K | — |
| 2026-02-08 | Cherofsky Keriann | Tax withheld | 415 | $187.49 |
| 2026-02-08 | Bruehlman Ronald E | Grant | 16K | — |
| 2026-02-08 | Bruehlman Ronald E | Tax withheld | 6.8K | $187.49 |
| 2026-02-08 | Berkshire James G. | Grant | 2.7K | — |
| 2026-02-07 | Fedock Michael J. | Tax withheld | 111 | $187.49 |
| 2026-01-28 | Fedock Michael J. | Tax withheld | 381 | $239.76 |
| 2025-12-18 | BOUSBIB ARI | Option exercise | 50K | $59.90 |
| 2025-12-18 | BOUSBIB ARI | Disposition | 13K | $222.91 |
| 2025-12-18 | BOUSBIB ARI | Sell | 37K | $222.43 |
| 2025-10-29 | BOUSBIB ARI | Option exercise | 78K | $59.90 |
| 2025-10-29 | Sherbet Eric | Option exercise | 10K | $131.82 |
| 2025-10-29 | Sherbet Eric | Sell | 4.0K | $219.70 |
| 2025-10-29 | Sherbet Eric | Disposition | 6.0K | $219.72 |
| 2025-10-29 | BOUSBIB ARI | Sell | 800 | $217.58 |
| 2025-10-29 | BOUSBIB ARI | Sell | 7.3K | $218.32 |
| 2025-10-29 | BOUSBIB ARI | Sell | 14K | $219.29 |
| 2025-10-29 | BOUSBIB ARI | Sell | 4.6K | $220.11 |
| 2025-10-29 | BOUSBIB ARI | Sell | 26K | $221.31 |
| 2025-10-29 | BOUSBIB ARI | Sell | 4.0K | $221.97 |
| 2025-10-29 | BOUSBIB ARI | Disposition | 21K | $220.96 |
| 2025-07-28 | Patel Bhavik | Tax withheld | 84 | $197.76 |
| 2025-07-28 | Cherofsky Keriann | Tax withheld | 35 | $197.76 |
| 2025-07-23 | Cherofsky Keriann | Sell | 549 | $191.53 |
| 2025-07-23 | Sherbet Eric | Sell | 5.8K | $190.05 |
| 2025-07-23 | Sherbet Eric | Disposition | 6.1K | $190.10 |
| 2025-07-23 | Sherbet Eric | Option exercise | 12K | $97.20 |
| 2025-04-24 | LEONARD JOHN M | Grant | 1.6K | — |
| 2025-04-24 | DANHAKL JOHN G | Grant | 1.6K | — |
| 2025-04-24 | GOGGINS COLLEEN A | Grant | 1.6K | — |
| 2025-02-10 | STAUB W RICHARD | Tax withheld | 141 | $206.97 |
| 2025-02-10 | Sherbet Eric | Tax withheld | 179 | $206.97 |
| 2025-02-10 | Patel Bhavik | Tax withheld | 108 | $206.97 |
| 2025-02-10 | Cherofsky Keriann | Tax withheld | 16 | $206.97 |
| 2025-02-10 | Bruehlman Ronald E | Tax withheld | 907 | $206.97 |
| 2025-02-10 | BOUSBIB ARI | Option exercise | 40K | $65.16 |
| 2025-02-10 | BOUSBIB ARI | Disposition | 27K | $206.97 |
| 2025-02-10 | BOUSBIB ARI | Tax withheld | 3.3K | $206.97 |
| 2025-01-28 | Bruehlman Ronald E | Tax withheld | 2.2K | $203.43 |
| 2025-01-28 | BOUSBIB ARI | Tax withheld | 10K | $203.43 |
| 2025-01-28 | Cherofsky Keriann | Grant | 441 | — |
| 2025-01-28 | Cherofsky Keriann | Grant | 2.5K | — |
| 2025-01-28 | Cherofsky Keriann | Tax withheld | 176 | $203.43 |
| 2025-01-28 | STAUB W RICHARD | Grant | 1.6K | — |
| 2025-01-28 | STAUB W RICHARD | Tax withheld | 479 | $203.43 |
| 2025-01-28 | Patel Bhavik | Grant | 1.3K | — |
| 2025-01-28 | Patel Bhavik | Tax withheld | 612 | $203.43 |
| 2025-01-28 | Sherbet Eric | Grant | 2.4K | — |
| 2025-01-28 | Sherbet Eric | Tax withheld | 605 | $203.43 |
| 2025-01-28 | Bruehlman Ronald E | Grant | 6.3K | — |
| 2025-01-28 | BOUSBIB ARI | Grant | 22K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-11 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-06-04 | OtherExhibits | filing ↗ |
| 2026-06-03 | OtherExhibits | filing ↗ |
| 2026-05-07 | OtherExhibits | filing ↗ |
| 2026-05-05 | ResultsExhibits | filing ↗ |
| 2026-04-23 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-02-05 | ResultsExhibits | filing ↗ |
| 2025-12-09 | Material agreementDebt obligationExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-11 | 2026-06-11 | 0001193125-26-267763 ↗ |
| 8-K | 2026-06-04 | 2026-06-04 | 0001193125-26-257730 ↗ |
| 8-K | 2026-06-03 | 2026-06-03 | 0001193125-26-255635 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001193125-26-212463 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001628280-26-030118 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001628280-26-030675 ↗ |
| 8-K | 2026-04-23 | 2026-04-23 | 0001193125-26-173771 ↗ |
| 10-K | 2026-02-17 | 2025-12-31 | 0001628280-26-008322 ↗ |
| 8-K | 2026-02-05 | 2026-02-05 | 0001628280-26-005605 ↗ |
| 8-K | 2025-12-09 | 2025-12-09 | 0001193125-25-312900 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001193125-25-267053 ↗ |
| 10-Q | 2025-10-28 | 2025-09-30 | 0001628280-25-046794 ↗ |