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IQVIA Holdings (IQV) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 27, 2026 · IQVIA Holdings (IQV) Q3 2026 earnings results →

Q3 2026 Revenue up 8% year over year to $4.4B · 8¢ of every $1 of revenue kept as net profit · operating margin 12.9%

IQVIA Holdings made $4.4B in Q3 2026 (+8% Y/Y): Research & Development Solutions $2.6B, Commercial Solutions $1.8B. Operating margin 12.9%, net earnings $352M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 27, 2026.

Revenue$4.4B
Year over year+8%
Operating margin12.9%
Net earnings$352M
Operating cash flow$825M

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IQVIA Holdings Q3 2026 revenue breakdown: Sankey diagram of revenue (Research & Development Solutions, Commercial Solutions), costs, profit and cash flow
IQVIA Holdings Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $4.4B in Q3 2026, up 8% year over year and up 1% from the previous quarter. Research & Development Solutions was the largest line at 60% of revenue. Research & Development Solutions added $0.21B year over year (up 9%), 65% of the total change.

Operating profit was $0.57B, a 12.9% margin (down 0.6 points year over year). Of the extra revenue versus Q3 2025, 6% reached operating profit, below the 13% margin then. Total costs grew 9% against revenue growth of 8%. The fastest-growing cost line was Other operating costs (+17%). Net earnings were $0.35B, up 6% year over year. The effective tax rate was 17.8%.

Operating cash flow was $0.82B (down 9% year over year), 234% of net earnings. Non-cash charges added back $0.32B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items added $0.07B. After acquisition of property, equipment and software ($0.16B), free cash flow as the company reports it was $0.67B.

Quarterly history

IQVIA Holdings revenue by quarterIQVIA Holdings revenue by quarter$3.8BQ1 2025$4.0BQ2 2025$4.1BQ3 2025$4.4BQ4 2025$4.2BQ1 2026$4.4BQ2 2026$4.4BQ3 2026
IQVIA Holdings net earnings by quarterIQVIA Holdings net earnings by quarter$249MQ1 2025$266MQ2 2025$332MQ3 2025$514MQ4 2025$275MQ1 2026$258MQ2 2026$352MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 27, 2026$4.4B+8%12.9%$352M$825M
Q2 202610-QJul 28, 2026$4.4B+9%11.6%$258M$558M
Q1 202610-QMay 5, 2026$4.2B+8%12.4%$275M$618M
Q4 202510-KFeb 17, 2026$4.4B+10%14.4%$514M$735M
Q3 202510-QOct 28, 2025$4.1B+5%13.5%$332M$908M
Q2 202510-QJul 22, 2025$4.0B+5%12.6%$266M$443M
Q1 202510-QMay 6, 2025$3.8B+2%13.0%$249M$568M

Charts

IQVIA Holdings: revenue growth, year over year and quarter over quarterIQVIA Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q+2%Q1 2025+5%+5%Q2 2025+5%+2%Q3 2025+10%+6%Q4 2025+8%-5%Q1 2026+9%+5%Q2 2026+8%+1%Q3 2026
Latest (Q3 2026): Y/Y +8%, Q/Q +1%.
IQVIA Holdings: where the cash came from (+) and went (−), TTM to Q3 2026IQVIA Holdings: where the cash came from (+) and went (−), TTM to Q3 2026Net borrowing (+) / repaid (−)$6.2BOther financing−$5.1BOperating cash flow$2.7BAcquisitions−$1.5BBuybacks−$1.2BCapital spending−$657MCash drawn (+) / kept (−)−$435MOther investing−$78.0MExchange rates−$27.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
IQVIA Holdings: profit against cash, quarter by quarterIQVIA Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow$437M$885MQ4 2024$249M$568MQ1 2025$266M$443MQ2 2025$332M$908MQ3 2025$514M$735MQ4 2025$275M$618MQ1 2026$258M$558MQ2 2026$352M$825MQ3 2026
Latest (Q3 2026): Net income $352M, Operating cash flow $825M.
IQVIA Holdings: diluted shares by fiscal yearIQVIA Holdings: diluted shares by fiscal year195MFY2020195MFY2021191MFY2022186MFY2023183MFY2024174MFY2025
-11.0% since FY2020: buybacks shrank the count.
IQVIA Holdings: long-term debt falling due (FY2025)IQVIA Holdings: long-term debt falling due (FY2025)$1.8B2026$1.8B2027$2.6B2028$2.5B2029$3.3B2030$3.9BLater
Cash $2.0B, short-term investments $161M, long-term debt — at 2025-12-31.
IQVIA Holdings in its industry: growth against margin (12 companies, SIC 8731)IQVIA Holdings in its industry: growth against margin (12 companies, SIC 8731)revenue growth, year over year →↑ operating marginmedian +8%median -46%INCYCRLMEDPNRCMXCTFOXOOABIBIAFABSIONMDISPCIQV (+8%, 13%)
Services-Commercial Physical & Biological Research; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About IQVIA Holdings

IQVIA is a leading global provider of clinical research services, commercial insights and healthcare intelligence to the life sciences and healthcare industries. IQVIA’s portfolio of solutions are powered by IQVIA Connected Intelligence™ to deliver actionable insights and services built on high-quality health data, Healthcare-grade AI ® , advanced analytics, the latest technologies and extensive domain expertise. We are committed to using artificial intelligence ("AI") responsibly, with AI-powered capabilities built on best-in-class approaches to privacy, regulatory compliance and patient safety, and delivering AI to the high standards of trust, scalability and precision demanded by the industry.

In its own words, from its 10-K, filed Feb 17, 2026.

IQVIA Holdings against its Services-Commercial Physical & Biological Research peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +8% against the peers' median +8%. Operating margin: 12.9% against the peers' median 12.9%.

CompanyQuarterRevenueY/YOp. margin
IQV IQVIA HoldingsQ3 2026$4.4B+8%12.9%
INCY IncyteQ3 2026$1.6B+14%-45.5%
CRL Charles River Laboratories InternationalQ3 2026$983M-2%20.6%
MEDP Medpace HoldingsQ3 2026$716M+8%23.1%
NRC NRC HealthQ3 2026$38.4M+11%23.2%
MXCT MaxcyteQ2 2026$7.3M-14%-140.7%
FOXO Foxo TechnologiesQ2 2026$4.7M-10%185.5%
OABI OmniAbQ3 2026$4.0M+78%-409.9%
BIAF bioAffinity TechnologiesQ3 2026$1.1M-26%-328.0%

Source: IQVIA Holdings 10-Q on SEC EDGAR · CIK 1478242 · Services-Commercial Physical & Biological Research

Guidance and outlook

IQVIA Holdings Revenue: guidance against what was reportedIQVIA Holdings Revenue: guidance against what was reportedguided rangereported (above / within / below)FY2024$15.4BFY2025$16.3BFY2026
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
IQVIA Holdings GAAP net income: guidance against what was reportedIQVIA Holdings GAAP net income: guidance against what was reportedguided rangereported (above / within / below)FY2024$1.4BFY2025$1.4BFY2026
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
IQVIA Holdings: what its forward-looking statements are about (10-Q filed 2026-07-28)IQVIA Holdings: what its forward-looking statements are about (10-Q filed 2026-07-28)Other2Backlog1Costs1
4 statements; tone +0.75 (−1 all cautious, +1 all confident); 1 hedged.
IQVIA Holdings: outlook statements against the filing beforeIQVIA Holdings: outlook statements against the filing beforeConfident3

13F: who owns IQV and who is buying

Largest holders of IQV (13F)Largest holders of IQV (13F)Vanguard Group$4.4BBlackRock$2.8BHarris Associates L P$2.4BVanguard Capital Management LLC$2.1BState Street$1.5BVanguard Portfolio Management LLC$1.4BArtisan Partners Limited Partners…$917MBoston Partners$865MGeode Capital Management, LLC$857MInvesco$633M
Funds' net buying of IQV by quarter (13F)Funds' net buying of IQV by quarter (13F)$104M2024-09−$910M2024-12−$172M2025-03$1.1B2025-06$19.4M2025-09$275M2025-12−$495M2026-03−$562M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on IQV

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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