Filing Flows › IQVIA Holdings (IQV) › Q4 2025
IQVIA Holdings (IQV) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
IQVIA Holdings (IQV) reported revenue of $4.4B for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +6% from the quarter before. Operating margin was 14.4%, net earnings $514M (11.8% of revenue).
IQVIA Holdings, Q4 2025: revenue $4.4B (+10% year over year), operating margin 14.4%, net earnings $514M, operating cash flow $735M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.4B | +6% | +10% |
| Operating profit | $627M | +13% | +0.2% |
| Net earnings | $514M | +55% | +18% |
| Operating cash flow | $735M | -19% | -17% |
| Free cash flow | $561M | — | -22% |
What changed
Revenue was $4.4B in Q4 2025, up 10% year over year and up 6% from the previous quarter. Research & Development Solutions was the largest line at 53% of revenue.
Operating profit was $0.63B, a 14.4% margin (down 1.4 points year over year). Of the extra revenue versus a year earlier, 0% reached operating profit, below the 16% margin then. Total costs grew 12% against revenue growth of 10%. The fastest-growing cost line was Other operating costs (+14%). Net earnings were $0.51B, up 18% year over year. The effective tax rate was 10.3%.
Operating cash flow was $0.73B (down 17% year over year), 143% of net earnings. Non-cash charges added back $0.32B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.16B. After acquisition of property, equipment and software ($0.17B), free cash flow as the company reports it was $0.56B.
Questions
What was IQVIA Holdings' revenue in the fourth quarter 2025?
IQVIA Holdings (IQV) reported revenue of $4.4B for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +6% from the quarter before.
Was IQVIA Holdings profitable in the fourth quarter 2025?
Operating profit was $627M (14.4% of revenue) and net earnings $514M.
Source: IQVIA Holdings 10-K on SEC EDGAR.