IQVIA Holdings (IQV) FY2014 results: revenue $5.5 billion, up 7.1% on the year
IQVIA Holdings Inc. (IQV) reported revenue of $5.5 billion for fiscal 2014, the year ended 31 December 2014, up 7.1% on the year before. Net income was $356 million, up 57.3%, and diluted earnings per share $2.72. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2015.
Revenue
$5.5 billion
+7.1% on the year
FY2011FY2014
Operating margin
10.8%
9.1% a year earlier
FY2011FY2014
Net income
$356 million
+57.3% on the year
FY2011FY2014
Diluted EPS
$2.72
+53.7% on the year
FY2011FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
5,460
5,100
4,866
+7.1%
Cost of revenue
2,664
2,471
2,459
+7.8%
Gross profit
2,796
2,628
2,406
+6.4%
Gross margin
51.2%
51.5%
49.5%
Research and development
5.8
5.0
10.4
+16.9%
Selling, general and administrative
781
861
818
-9.2%
Operating income
590
462
396
+27.7%
Operating margin
10.8%
9.1%
8.1%
Interest expense
101
124
-134
-18.2%
Pre-tax income
501
323
267
+55.1%
Income tax
149
96.0
93.4
+55.3%
Effective tax rate
29.7%
29.7%
34.9%
Net income
356
227
178
+57.3%
Net margin
6.5%
4.4%
3.6%
Diluted EPS
$2.72
$1.77
$1.51
+53.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
433
393
336
+10.1%
Capital expenditure
83.0
88.3
71.3
-6.1%
Free cash flow
350
305
264
+14.7%
Free cash flow margin
6.4%
6.0%
5.4%
Depreciation and amortisation
121
108
98.3
+12.6%
Share-based compensation
30.0
22.8
25.9
+31.4%
Buybacks
415
6.4
13.4
+6,352.1%
Dividends paid
n/a
n/a
568
Diluted shares, weighted
131m
128m
118m
+2.5%
Shares outstanding at period end
124m
130m
116m
-4.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
-704
-667
-1,360
Non-controlling interest
0.0
-0.1
0.5
Debt
2,306
2,061
2,445
+11.9%
Other liabilities
1,694
1,661
1,414
+2.0%
Total liabilities and equity
3,296
3,054
2,499
+7.9%
Fixed assets
190
200
194
-4.7%
Goodwill
464
410
302
+13.4%
Intangible assets
280
298
273
-6.0%
Investments
34.5
40.3
36.0
-14.5%
Cash and equivalents
867
778
568
+11.5%
Receivables
975
924
745
+5.5%
Other assets
484
404
381
+19.7%
Total assets
3,296
3,054
2,499
+7.9%
10-K for the year ended 31 December 2014, filed 12 February 2015: the filing.