Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q4 2021 Earnings Presentation
16 slides from Iqvia's earnings presentation, Feb 15, 2022
Slide 1: Q4 2021 Earnings Call
Q4 2021 Earnings Call February 15, 2022 © 2022. All rights reserved. IQVIA® is a registered trademark of IQVIA Inc. in the United States, the European Union, and various other countries.
Slide 2: Legal: Safe Harbor Statement for Forward-Looking Statements
Legal This presentation should be viewed in conjunction with IQVIA’s Q4 2021 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, and Free Cash Flow. N
Slide 4: 4th Quarter Results
4th Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) 10.2% AFx 12.7% AFx 20.9% AFx 11.6% CFx $3,636 $828 $2.55 $3,298 $735 $2.11 Q4 2021 Q4 2020 Q4 2021 Q4 2020 Q4 2021 Q4 2020 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is co
Slide 5: 4th Quarter and Full-Year Revenue
4th Quarter and Full-Year Revenue $M Q4 Full Year VPY% VPY% VPY% VPY% 2021 2020 2021 2020 AFx CFx AFx CFx Technology & Analytics $1,496 $1,425 5.0% 6.6% $5,534 $4,858 13.9% 12.4% Solutions Research & $1,944 $1,684 15.4% 16.3% $7,556 $5,760 31.2% 30.4% Development Solutions Contract Sales & $196 $189
Slide 6: 4th Quarter and Full-Year Profit
4th Quarter and Full-Year Profit $M, except per share data Q4 Full Year 2021 2020 2021 2020 Adjusted EBITDA (1) $828 $735 $3,022 $2,384 Net Income $318 $119 $966 $279 Diluted Earnings per Share $1.63 $0.61 $4.95 $1.43 Adjusted Net Income (1) $496 $411 $1,760 $1,252 Adjusted Diluted Earnings $2.55 $2
Slide 7: R&D Solutions Backlog and Net New Bookings
R&D Solutions Backlog and Net New Bookings $B Backlog Net New Bookings +10.2% $24.8 +14.6% $10.1 $22.6 $8.8 Q4 2020 Q4 2021 2020 2021 Dollars are at actual foreign exchange rates. 6
Slide 8: 4th Quarter Balance Sheet and Cash Flow Items and Metrics
4th Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $1,366 Gross Debt $12,125 Net Debt $10,759 Gross Leverage Ratio (1) 4.01x Net Leverage Ratio (1) 3.56x Net Cash Provided by Operating Activities $692 Capital Expenditures $184 Free Cash Flow (2) $508 Dollars are at
Slide 9: Full-Year 2022 Guidance
Full-Year 2022 Guidance $M, except per share data Guidance Revenue $14,700 – $15,000 VPY% CFX (1) 7.1% - 9.2% VPY% 6.0% - 8.1% Adjusted EBITDA $3,330 – $3,405 VPY% 10.2% - 12.7% Adjusted Diluted EPS $9.95 – $10.25 VPY% 10.2% - 13.5% (1) Assumes 2022 foreign currency exchange rates consistent with 20
Slide 10: Full-Year 2022 Segment Guidance
Full-Year 2022 Segment Guidance VPY% VPY% (1) Underlying VPY% (2) Technology & Analytics Solutions 5% - 7% High-single digits Research & Development Solutions 8% - 10% Upper teens Contract Sales & Medical Solutions ~(2)% Low-single digits Total IQVIA 6.0% - 8.1% Low-to-mid teens (1) Growth rates are
Slide 11: Q1 2022 Guidance
Q1 2022 Guidance $M, except per share data Guidance Revenue $3,515 – $3,575 VPY% CFX (1) 4.8% - 6.6% VPY% 3.1% - 4.9% Adjusted EBITDA $800 – $815 VPY% 7.5% - 9.5% Adjusted Diluted EPS $2.40 – $2.46 VPY% 10.1% - 12.8% (1) Assumes 2022 foreign currency exchange rates consistent with 2021. All financia
Slide 12: Q&A
Q&A 11
Slide 13: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Three Months Ended Twelve Months Ended December 31, December 31, (in millions) 2021 2020 2021 2020 Net Income Attributable to IQVIA Holdings Inc. $ 318 $ 119 $ 966 $ 279 Provision for income taxes 59 63 163 72 Depreciation and amortization 262 344 1,264 1
Slide 14: 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 Twelve Months Ended December 31, December 31, (in millions, except per share data) 2021 2020 2021 2020 Net Income Attributable to IQVIA Holdings Inc. $ 318 $ 119 $ 966 $ 279 Provision for income taxes 59 63 163 72 Pur
Slide 15: Operating Cash Flow to Free Cash Flow Reconciliation
Operating Cash Flow to Free Cash Flow Reconciliation Three Months Twelve Ended Months Ended December 31, December 31, (in millions) 2021 2021 Net Cash provided by Operating Activities $ 692 $ 2,942 Acquisition of property, equipment and software (184) (640) Free Cash Flow $ 508 $ 2,302 14
Slide 16: Leverage Ratios
Leverage Ratios (in millions) Gross Debt, net of Original Issue Discount, as of December 31, 2021 $ 12,125 Net Debt as of December 31, 2021 $ 10,759 Adjusted EBITDA for the twelve months ended December 31, 2021 $ 3,022 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 4.01x Net Leverage Ratio (N