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IQVIA
🇺🇸 NYSE:IQV
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•
Dec 31, 2024

IQVIA Q4 2024 Earnings Report

IQVIA delivered excellent results, with R&DS revenue on target, TAS revenue above target, margin expansion, high single-digit growth in Adjusted EPS, and outstanding free cash flow.

Key Takeaways

IQVIA reported a revenue of $3,958 million for the fourth quarter of 2024, representing a 2.3% increase on a reported basis and 3.0% at constant currency. GAAP Net Income was $437 million, with GAAP Diluted Earnings per Share at $2.42. Adjusted EBITDA was $996 million. The company reaffirms its 2025 outlook.

Revenue for the fourth quarter was $3,958 million, up 2.3 percent on a reported basis.

GAAP Net Income for the fourth quarter was $437 million, and GAAP Diluted Earnings per Share was $2.42.

Adjusted EBITDA for the fourth quarter was $996 million, an increase of 3.1 percent year-over-year.

R&D Solutions quarterly bookings of over $2.5 billion, representing a book-to-bill ratio of 1.20x.

Total Revenue
$3.96B
Previous year: $3.87B
+2.3%
EPS
$3.12
Previous year: $2.84
+9.9%
R&DS Next 12 Months Revenue
$31.1B
Previous year: $29.7B
+4.7%
Gross Profit
$1.38B
Previous year: $1.12B
+23.6%
Cash and Equivalents
$1.7B
Previous year: $1.38B
+23.7%
Free Cash Flow
$721M
Previous year: $568M
+26.9%
Total Assets
$26.9B
Previous year: $26.7B
+0.8%

IQVIA

IQVIA

IQVIA Revenue by Segment

Forward Guidance

The company reaffirms its 2025 outlook of revenue growth at constant currency ex-COVID of 4 to 7 percent, Adjusted EBITDA margin expansion of up to 20 basis points and Adjusted Diluted Earnings per Share growth of 5 to 9 percent. These expectations result in full-year revenue guidance of $15,725 million to $16,125 million, Adjusted EBITDA of $3,765 million to $3,885 million, and Adjusted Diluted Earnings per Share of $11.70 to $12.10.

Positive Outlook

  • Revenue growth at constant currency ex-COVID of 4 to 7 percent.
  • Adjusted EBITDA margin expansion of up to 20 basis points.
  • Adjusted Diluted Earnings per Share growth of 5 to 9 percent.
  • Full-year revenue guidance of $15,725 million to $16,125 million.
  • Adjusted EBITDA of $3,765 million to $3,885 million.

Challenges Ahead

  • Revenue guidance assumes just over $100 million of COVID-related revenue step-down, entirely in R&DS.
  • Approximately 150 basis points of headwind from foreign exchange.
  • 100-150 basis points of contribution from acquisitions.
  • All financial guidance assumes foreign currency exchange rates as of February 5, 2025 remain in effect for the forecast period.
  • Unspecified items contained in the GAAP measures without unreasonable efforts.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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