Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q4 2024 Earnings Presentation
17 slides from Iqvia's earnings presentation, Feb 6, 2025
Slide 1: Q4 2024 Earnings Call
Q4 2024 Earnings Call February 6, 2025 1
Slide 2: Legal: Safe Harbor Statement
Legal This presentation should be viewed in conjunction with IQVIA’s Q4 2024 earnings call Safe Harbor Statement for Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 19
Slide 3: Legal: Non-GAAP Information
Legal Non-GAAP Information This presentation includes information based on financial measures that are not recognized under generally accepted accounting principles in the United States ("GAAP"), such as Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted Earnings per Share, Gross Leverage Ratio,
Slide 4: 4th Quarter Results
4th Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) 2.3% AFx 3.0% CFx 3.1% AFx 9.9% AFx $3,958 $3,868 $996 $966 $3.12 $2.84 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is constant currency. (1) See reconciliation of non-GAAP
Slide 5: 4th Quarter and Full-Year Revenue
4th Quarter and Full-Year Revenue $M Q4 Full Year 2024 2023 VPY% VPY% 2024 2023 VPY% VPY% AFx CFx AFx CFx Technology & Analytics $1,658 $1,531 8.3% 9.5% $6,160 $5,862 5.1% 5.7% Solutions Research & $2,123 $2,151 (1.3)% (1.0)% $8,527 $8,395 1.6% 2.0% Development Solutions Contract Sales & $177 $186 (
Slide 6: 2023/2024 TAS Growth Trend
2023/2024 TAS Growth Trend CFx ex-COVID CFx is constant currency. 6
Slide 7: 4th Quarter and Full-Year Profit
4th Quarter and Full-Year Profit $M, except per share data Q4 Full Year 2024 2023 2024 2023 Adjusted EBITDA (1) $996 $966 $3,684 $3,569 Net Income $437 $469 $1,373 $1,358 Diluted Earnings per Share $2.42 $2.54 $7.49 $7.29 Adjusted Net Income (1) $564 $523 $2,042 $1,901 Adjusted Diluted Earnings per
Slide 8: R&D Solutions Backlog
R&D Solutions Backlog $B Up 25% since Q4 2021 Up vPY 4.4% AFx and 5.5% CFx Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is constant currency. 8
Slide 9: 4th Quarter Balance Sheet and Cash Flow Items and Metrics
4th Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $1,702 Gross Debt $13,983 Net Debt $12,281 Gross Leverage Ratio (1) 3.80x Net Leverage Ratio (1) 3.33x Net Cash Provided by Operating Activities $885 Capital Expenditures $164 Free Cash Flow (2) $721 Dollars are at
Slide 10: Full-Year 2025 Guidance
Full-Year 2025 Guidance $M, except per share data Revenue $15,725 – $16,125 Adj. EBITDA $3,765 – $3,885 Adj. Diluted EPS $11.70 – $12.10 All financial guidance assumes February 5, 2025 foreign exchange rates remain in effect for the guidance period. 10
Slide 11: Full-Year 2025 Segment Revenue Guidance
Full-Year 2025 Segment Revenue Guidance $B TAS $6.3 – $6.5 R&DS $8.7 – $8.9 CSMS ~ $0.7 All financial guidance assumes February 5, 2025 foreign exchange rates remain in effect for the guidance period. 11
Slide 12: Q1 2025 Guidance
Q1 2025 Guidance $M, except per share data Revenue $3,740 – $3,790 Adj. EBITDA $870 – $890 Adj. Diluted EPS $2.60 – $2.70 All financial guidance assumes February 5, 2025 foreign exchange rates remain in effect for the guidance period. 12
Slide 13: Q&A
Q&A 13
Slide 14: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation (1) Three and Twelve months ended December 31, 2023 include a $125M tax benefit due to an internal legal entity restructuring. (2) Reflects certain non-operating income items, revaluations of contingent consideration and certain non-recurring expenses. (3
Slide 15: Net Income to Adj. Net Income and Per Share Data Reconciliation
Net Income to Adj. Net Income and Per Share Data Reconciliation (1) Three and Twelve months ended December 31, 2023 include a $125M tax benefit due to an internal legal entity restructuring; the benefit is excluded from Adjusted tax expense. (2) Reflects all the amortization of acquired intangible a
Slide 16: Operating Cash Flow to Free Cash Flow Reconciliation
Operating Cash Flow to Free Cash Flow Reconciliation 16
Slide 17: Leverage Ratios
Leverage Ratios (in millions) Gross Debt, net of Unamortized Discount and Debt Issuance Costs, as of December 31, 2024 $ 13,983 Net Debt as of December 31, 2024 $ 12,281 Adjusted EBITDA for the twelve months ended December 31, 2024 $ 3,684 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 3.80x