Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q3 2025 Earnings Presentation
15 slides from Iqvia's earnings presentation, Oct 28, 2025
Slide 1: Q3 2025 Earnings Call
Q3 2025 Earnings Call October 28, 2025 1
Slide 2: Legal: Safe Harbor Statement for Forward-Looking Statements
Legal This presentation should be viewed in conjunction with IQVIA’s Q3 2025 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: 3rd Quarter Results
3rd Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) 5.2% AFx 3.9% CFx 1.1% AFx 5.6% AFx $4,100 $3,896 $949 $939 $3.00 $2.84 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is consta
Slide 5: 3rd Quarter and Year-to-Date Revenue
3rd Quarter and Year-to-Date Revenue $M Q3 YTD VPY% VPY% VPY% VPY% 2025 2024 2025 2024 AFx CFx AFx CFx Technology & Analytics $1,631 $1,554 5.0% 3.3% $4,805 $4,502 6.7% 5.8% Solutions Research & Development $2,260 $2,162 4.5% 3.4% $6,563 $6,404 2.5% 1.9% Solutions Contract Sales & Medical $209 $180
Slide 6: 3rd Quarter and Year-to-Date Profit
3rd Quarter and Year-to-Date Profit $M, except per share data Q3 YTD 2025 2024 2025 2024 Adjusted EBITDA (1) $949 $939 $2,742 $2,688 Net Income $331 $285 $846 $936 Diluted Earnings per Share $1.93 $1.55 $4.86 $5.08 Adjusted Net Income (1) $515 $523 $1,480 $1,478 Adjusted Diluted Earnings per $3.00 $
Slide 7: R&D Solutions Net New Bookings and Backlog
R&D Solutions Net New Bookings and Backlog $B Net New Bookings Backlog +13% +21% +4.1% $32.4 $31.1 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q3 2025 Dollars are at actual foreign exchange rates. 7
Slide 8: 3rd Quarter Balance Sheet and Cash Flow Items and Metrics
3rd Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $1,814 Gross Debt $14,957 Net Debt $13,143 Gross Leverage Ratio (1) 4.00x Net Leverage Ratio (1) 3.52x Net Cash Provided by Operating Activities $908 Capital Expenditures $136 Free Cash Flow (2) $772 Dollars are at
Slide 9: Full-Year 2025 Guidance
Full-Year 2025 Guidance $M, except per share data Revenue $16,150 – $16,250 Adj. EBITDA $3,775 – $3,800 Adj. Diluted EPS $11.85 – $11.95 All financial guidance assumes October 27, 2025 foreign exchange rates remain in effect for the guidance period. 9
Slide 10: Q4 2025 Guidance
Q4 2025 Guidance $M, except per share data Revenue $4,204 – $4,304 Adj. EBITDA $1,033 – $1,058 Adj. Diluted EPS $3.35 – $3.45 All financial guidance assumes October 27, 2025 foreign exchange rates remain in effect for the guidance period. 10
Slide 11: <x 0&3 C
<x 0&3 C
Slide 12: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2025 2024 2025 2024 Net Income Attributable to IQVIA Holdings Inc. $ 331 $ 285 $ 846 $ 936 Provision for income taxes 76 65 193 189 Depreciation and amortization 286 278 827 81
Slide 13: Net Income to Adj. Net Income and Per Share Data Reconciliation
Net Income to Adj. Net Income and Per Share Data Reconciliation Three Months Ended Nine Months Ended September 30, September 30, (in millions, except per share data) 2025 2024 2025 2024 Net Income Attributable to IQVIA Holdings Inc. $ 331 $ 285 $ 846 $ 936 Provision for income taxes 76 65 193 189 Pu
Slide 14: Operating Cash Flow to Free Cash Flow Reconciliation
Operating Cash Flow to Free Cash Flow Reconciliation Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2025 2024 2025 2024 Net Cash provided by Operating Activities $ 908 $ 721 $ 1,919 $ 1,831 Acquisition of property, equipment and software (136) (150) (429) (438) Free C
Slide 15: Leverage Ratios
Leverage Ratios (in millions) Gross Debt, net of Unamortized Discount and Debt Issuance Costs, as of September 30, 2025 $ 14,957 Net Debt as of September 30, 2025 $ 13,143 Adjusted EBITDA for the twelve months ended September 30, 2025 $ 3,738 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 4.0