IQVIA Holdings (IQV) FY2020 results: revenue $11.4 billion, up 2.4% on the year
IQVIA Holdings Inc. (IQV) reported revenue of $11.4 billion for fiscal 2020, the year ended 31 December 2020, up 2.4% on the year before. Net income was $279 million, up 46.1%, and diluted earnings per share $1.43. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2021.
Revenue
$11.4 billion
+2.4% on the year
FY2013FY2020
Operating margin
6.4%
7.0% a year earlier
FY2013FY2020
Net income
$279 million
+46.1% on the year
FY2013FY2020
Diluted EPS
$1.43
+49.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
11,359
11,088
10,412
+2.4%
Cost of revenue
7,500
7,300
6,746
+2.7%
Gross profit
3,859
3,788
3,666
+1.9%
Gross margin
34.0%
34.2%
35.2%
Selling, general and administrative
1,789
1,734
1,716
+3.2%
Operating income
731
777
741
-5.9%
Operating margin
6.4%
7.0%
7.1%
Interest expense
416
447
414
-6.9%
Pre-tax income
373
352
328
+6.0%
Income tax
72.0
116
59.0
-37.9%
Effective tax rate
19.3%
33.0%
18.0%
Net income
279
191
259
+46.1%
Net margin
2.5%
1.7%
2.5%
Diluted EPS
$1.43
$0.96
$1.24
+49.0%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,959
1,417
1,254
+38.2%
Capital expenditure
616
582
459
+5.8%
Free cash flow
1,343
835
795
+60.8%
Free cash flow margin
11.8%
7.5%
7.6%
Cash from investing
-796
-1,190
-810
Cash from financing
-217
-276
-452
Depreciation and amortisation
1,287
1,202
1,141
+7.1%
Share-based compensation
95.0
146
113
-34.9%
Buybacks
447
949
1,405
-52.9%
Diluted shares, weighted
195m
200m
208m
-2.3%
Shares outstanding at period end
191m
192m
198m
-0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,001
6,003
6,714
-0.0%
Non-controlling interest
279
260
240
+7.3%
Debt
12,533
11,645
11,007
+7.6%
Operating lease liabilities
371
396
n/a
-6.3%
Finance lease liabilities
122
n/a
n/a
Other liabilities
5,258
4,947
4,588
+6.3%
Total liabilities and equity
24,564
23,251
22,549
+5.6%
Fixed assets
482
458
434
+5.2%
Goodwill
12,654
12,159
11,800
+4.1%
Intangible assets
5,205
5,514
5,951
-5.6%
Investments
88.0
62.0
88.0
+41.9%
Cash and equivalents
1,814
837
891
+116.7%
Receivables
2,410
2,582
2,394
-6.7%
Other assets
1,911
1,639
991
+16.6%
Total assets
24,564
23,251
22,549
+5.6%
10-K for the year ended 31 December 2020, filed 12 February 2021: the filing.