IQVIA Holdings (IQV) FY2019 results: revenue $11.1 billion, up 6.5% on the year
IQVIA Holdings Inc. (IQV) reported revenue of $11.1 billion for fiscal 2019, the year ended 31 December 2019, up 6.5% on the year before. Net income was $191 million, down 26.3%, and diluted earnings per share $0.96. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$11.1 billion
+6.5% on the year
FY2012FY2019
Operating margin
7.0%
7.1% a year earlier
FY2012FY2019
Net income
$191 million
-26.3% on the year
FY2012FY2019
Diluted EPS
$0.96
-22.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
11,088
10,412
9,702
+6.5%
Cost of revenue
7,300
6,746
4,622
+8.2%
Gross profit
3,788
3,666
n/a
+3.3%
Gross margin
34.2%
35.2%
n/a
Selling, general and administrative
1,734
1,716
1,622
+1.0%
Operating income
777
741
665
+4.9%
Operating margin
7.0%
7.1%
6.9%
Interest expense
447
414
346
+8.0%
Pre-tax income
352
328
294
+7.3%
Income tax
116
59.0
-992
+96.6%
Effective tax rate
33.0%
18.0%
-337.4%
Net income
191
259
1,277
-26.3%
Net margin
1.7%
2.5%
13.2%
Diluted EPS
$0.96
$1.24
$5.74
-22.6%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,417
1,254
970
+13.0%
Capital expenditure
582
459
369
+26.8%
Free cash flow
835
795
601
+5.0%
Free cash flow margin
7.5%
7.6%
6.2%
Cash from investing
-1,190
-810
-1,190
Cash from financing
-276
-452
-72.0
Depreciation and amortisation
1,202
1,141
1,011
+5.3%
Share-based compensation
146
113
106
+29.2%
Buybacks
949
1,405
2,620
-32.5%
Diluted shares, weighted
200m
208m
223m
-4.1%
Shares outstanding at period end
192m
198m
n/a
-2.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
6,003
6,714
7,995
-10.6%
Non-controlling interest
260
240
249
+8.3%
Debt
11,645
11,007
10,269
+5.8%
Operating lease liabilities
396
n/a
n/a
Other liabilities
4,947
4,588
4,344
+7.8%
Total liabilities and equity
23,251
22,549
22,857
+3.1%
Fixed assets
458
434
440
+5.5%
Goodwill
12,159
11,800
11,850
+3.0%
Intangible assets
5,514
5,951
6,591
-7.3%
Investments
62.0
88.0
54.0
-29.5%
Cash and equivalents
837
891
959
-6.1%
Receivables
2,582
2,394
2,097
+7.9%
Other assets
1,639
991
866
+65.4%
Total assets
23,251
22,549
22,857
+3.1%
10-K for the year ended 31 December 2019, filed 18 February 2020: the filing.