IQVIA Reports Strong Q4 & Full-Year 2025 Results, Issues Positive 2026 Guidance
Summary
IQVIA Holdings Inc. announced strong fourth-quarter and full-year 2025 financial results, exceeding expectations with double-digit revenue and EPS growth in Q4, and provided positive full-year 2026 guidance.
Key Events
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Strong Q4 2025 Performance
Reported fourth-quarter revenue of $4,364 million, up 10.3% year-over-year, and GAAP Diluted EPS of $2.99, up 23.6% year-over-year. Adjusted Diluted EPS reached $3.42, a 9.6% increase.
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Solid Full-Year 2025 Results
Achieved full-year revenue of $16,310 million, a 5.9% increase, and Adjusted Diluted EPS of $11.92, up 7.1% compared to 2024. Operating Cash Flow was $2,654 million and Free Cash Flow was $2,051 million.
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Robust R&D Solutions Bookings and Backlog
R&D Solutions recorded quarterly bookings of over $2.7 billion, resulting in a book-to-bill ratio of 1.18x. Contracted backlog for R&DS grew to $32.7 billion, up 5.3% year-over-year.
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Positive Full-Year 2026 Guidance
Issued full-year 2026 guidance projecting revenue between $17,150 million and $17,350 million, and Adjusted Diluted EPS between $12.55 and $12.85, indicating continued growth.
Analysis
IQVIA Holdings Inc. delivered a strong close to 2025, reporting robust fourth-quarter and full-year financial results, alongside optimistic guidance for 2026. The company demonstrated solid growth across its segments, particularly in Research & Development Solutions (R&DS) with significant bookings and backlog expansion, indicating future revenue stability. The positive outlook for 2026, with projected revenue and Adjusted EPS growth, suggests continued operational momentum. Investors should note the strategic segment reclassification, which aligns with industry evolution and the company's updated operating model, though it has a negligible impact on historical growth rates.
At the time of this filing, IQV was trading at $203.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $34.5B. The 52-week trading range was $134.65 to $247.05. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.