Financials Iqvia Holdings Inc.

Equities

IQV

US46266C1053

Biotechnology & Medical Research

Real-time Estimate Cboe BZX Other stock markets 10:56:02 2024-09-17 am EDT			5-day change	1st Jan Change
241.82 ^USD	+1.02%		+2.43%	+4.12%

Sep. 06	Veeva Systems: leader in cloud solutions for the life sciences industry
Sep. 04	'Brighter Skies' Ahead for IQVIA As EPS Set to 'Reaccelerate', RBC Capital Says	MT

Projected Income Statement: Iqvia Holdings Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	11,088	11,359	13,874	14,410	14,984	15,473	16,510	17,579
Change	-	2.44%	22.14%	3.86%	3.98%	3.27%	6.7%	6.47%
EBITDA ¹	2,400	2,384	3,022	3,346	3,569	3,722	4,018	4,327
Change	-	-0.67%	26.76%	10.72%	6.66%	4.28%	7.96%	7.7%
EBIT ¹	2,112	2,030	2,591	2,779	3,050	3,149	3,421	3,716
Change	-	-3.88%	27.64%	7.26%	9.75%	3.24%	8.64%	8.64%
Interest Paid ¹	-438	-410	-369	-403	-636	-634.3	-623.9	-610.9
Earnings before Tax (EBT) ¹	352	373	1,128	1,363	1,459	1,724	1,984	2,241
Change	-	5.97%	202.41%	20.83%	7.04%	18.18%	15.04%	12.99%
Net income ¹	191	279	966	1,091	1,358	1,437	1,630	1,877
Change	-	46.07%	246.24%	12.94%	24.47%	5.8%	13.44%	15.17%
Announcement Date	2/12/20	2/10/21	2/15/22	2/10/23	2/14/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2
Net sales ¹	2,769	2,895	2,754	2,521	2,786	3,298	3,409	3,438	3,391	3,636	3,568	3,541	3,562	3,739	3,652	3,728	3,736	3,868	3,737	3,814	3,859	4,058	3,977	4,067	4,131	4,350	4,215	4,329
Change	-	4.55%	-4.87%	-8.46%	10.51%	18.38%	3.37%	0.85%	-1.37%	7.23%	-1.87%	-0.76%	0.59%	4.97%	-2.33%	2.08%	0.21%	3.53%	-3.39%	2.06%	1.18%	5.17%	-2.01%	2.26%	1.57%	5.32%	-3.11%	2.69%
EBITDA ¹	593	642	562	483	604	735	744	722	728	828	812	800	814	920	851	864	888	966	862	887	937.1	1,035	928	962.6	1,020	1,128	999	1,044
Change	-	8.26%	-12.46%	-14.06%	25.05%	21.69%	1.22%	-2.96%	0.83%	13.74%	-1.93%	-1.48%	1.75%	13.02%	-7.5%	1.53%	2.78%	8.78%	-10.77%	2.9%	5.65%	10.47%	-10.36%	3.73%	6.01%	10.49%	-11.4%	4.5%
EBIT ¹	520	566	485	401	511	633	646	618	623	704	691	682	694	712	721	737	747	821	738	751	795.5	881.6	783.6	814.7	866.9	953.6	851.9	890.7
Change	-	8.85%	-14.31%	-17.32%	27.43%	23.87%	2.05%	-4.33%	0.81%	13%	-1.85%	-1.3%	1.76%	2.59%	1.26%	2.22%	1.36%	9.91%	-10.11%	1.76%	5.93%	10.81%	-11.12%	3.97%	6.4%	10.01%	-10.66%	4.55%
Charge d'intérêts ¹	-114	-107	-106	-107	-100	-98	-98	-93	-90	-88	-85	-92	-104	-122	-135	-165	-181	-169	-155	-151	-160.5	-159.5	-160	-159	-157.8	-156.5	-152.5	-151.5
Earnings before Tax (EBT) ¹	69	96	102	-25	102	194	257	222	273	376	400	328	360	275	362	375	349	373	340	436	448.4	526.6	419.8	452.8	499.2	602.8	479	517
Change	-	39.13%	6.25%	-	-	90.2%	32.47%	-13.62%	22.97%	37.73%	6.38%	-18%	9.76%	-23.61%	31.64%	3.59%	-6.93%	6.88%	-8.85%	28.24%	2.84%	17.44%	-20.29%	7.86%	10.27%	20.73%	-20.53%	7.93%
Net income ¹	57	16	82	-23	101	119	212	175	261	318	325	256	283	227	289	297	303	469	288	363	361.8	426.5	337.8	365.2	403.5	484	380.5	413
Change	-	-71.93%	412.5%	-	-	17.82%	78.15%	-17.45%	49.14%	21.84%	2.2%	-21.23%	10.55%	-19.79%	27.31%	2.77%	2.02%	54.79%	-38.59%	26.04%	-0.32%	17.86%	-20.8%	8.14%	10.47%	19.95%	-21.38%	8.54%
Announcement Date	10/30/19	2/12/20	4/28/20	7/22/20	10/20/20	2/10/21	4/22/21	7/27/21	10/21/21	2/15/22	4/27/22	7/21/22	10/26/22	2/10/23	4/27/23	8/1/23	11/1/23	2/14/24	5/2/24	7/22/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Iqvia Holdings Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	10,808	10,631	10,759	11,531	12,297	11,758	11,040	9,679
Change	-	-1.64%	1.2%	7.18%	6.64%	-4.38%	-6.11%	-12.33%
Announcement Date	2/12/20	2/10/21	2/15/22	2/10/23	2/14/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Iqvia Holdings Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	582	616	640	674	649	627.3	665.5	704.9
Change	-	5.84%	3.9%	5.31%	-3.71%	-3.35%	6.1%	5.92%
Free Cash Flow (FCF) ¹	835	1,343	2,302	1,586	1,500	1,770	2,200	2,155
Change	-	60.84%	71.41%	-31.1%	-5.42%	17.99%	24.28%	-2.03%
Announcement Date	2/12/20	2/10/21	2/15/22	2/10/23	2/14/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Iqvia Holdings Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	21.65%	20.99%	21.78%	23.22%	23.82%	24.05%	24.34%	24.62%
EBIT Margin (%)	19.05%	17.87%	18.68%	19.29%	20.36%	20.35%	20.72%	21.14%
EBT Margin (%)	3.17%	3.28%	8.13%	9.46%	9.74%	11.14%	12.01%	12.75%
Net margin (%)	1.72%	2.46%	6.96%	7.57%	9.06%	9.29%	9.87%	10.68%
FCF margin (%)	7.53%	11.82%	16.59%	11.01%	10.01%	11.44%	13.32%	12.26%
FCF / Net Income (%)	437.17%	481.36%	238.3%	145.37%	110.46%	123.17%	134.95%	114.8%
Profitability
ROA	5.57%	1.17%	7.15%	7.74%	5.22%	6.24%	6.8%	7.65%
ROE	20.07%	20.86%	29.23%	32.81%	32.01%	31.07%	30.51%	30.58%
Financial Health
Leverage (Debt/EBITDA)	4.5x	4.46x	3.56x	3.45x	3.45x	3.16x	2.75x	2.24x
Debt / Free cash flow	12.94x	7.92x	4.67x	7.27x	8.2x	6.64x	5.02x	4.49x
Capital Intensity
CAPEX / Current Assets (%)	5.25%	5.42%	4.61%	4.68%	4.33%	4.05%	4.03%	4.01%
CAPEX / EBITDA (%)	24.25%	25.84%	21.18%	20.14%	18.18%	16.85%	16.56%	16.29%
CAPEX / FCF (%)	69.7%	45.87%	27.8%	42.5%	43.27%	35.44%	30.26%	32.71%
Items per share
Cash flow per share ¹	7.1	10.05	15.09	11.86	11.54	14.99	16.86	19.31
Change	-	41.5%	50.18%	-21.41%	-2.67%	29.94%	12.42%	14.54%
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	31.22	31.39	30.98	31.04	32.81	38.38	43.06	49.38
Change	-	0.55%	-1.29%	0.19%	5.68%	16.99%	12.18%	14.69%
EPS ¹	0.96	1.43	4.95	5.72	7.29	7.704	8.755	10.27
Change	-	48.96%	246.15%	15.56%	27.45%	5.69%	13.63%	17.31%
Nbr of stocks (in thousands)	194,038	191,726	191,040	185,740	182,500	182,300	182,300	182,300
Announcement Date	2/12/20	2/10/21	2/15/22	2/10/23	2/14/24	-	-	-