For the quarter ending 2026-03-31, IQV had -$33M decrease in cash & cash equivalents over the period. $491M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 275 | 514 | 332 | 266 |
| Depreciation and amortization | 288 | 317 | 286 | 276 |
| Amortization of debt issuance costs and discount | 6 | 6 | 6 | 6 |
| Stock-based compensation | 65 | 60 | 55 | 60 |
| (earnings) losses from unconsolidated affiliates | 6 | 36 | 0 | -1 |
| Loss on investments, net | -18 | 24 | 4 | 17 |
| Benefit from deferred income taxes | -38 | -48 | -46 | -45 |
| Accounts receivable and unbilled services | - | -60 | - | - |
| Prepaid expenses and other assets | - | -218 | - | - |
| Accounts payable and accrued expenses | - | -96 | - | - |
| Unearned income | - | 242 | - | - |
| Change in accounts receivable, unbilled services and unearned income | 360 | - | -375 | -178 |
| Income taxes payable and other liabilities | - | -299 | - | - |
| Change in other operating assets and liabilities | -52 | - | -546 | 781 |
| Net cash provided by operating activities | 618 | 735 | 908 | 443 |
| Acquisition of property, equipment and software | 127 | 174 | 136 | 151 |
| Acquisition of businesses, net of cash acquired | 37 | 916 | 483 | 181 |
| Sales (purchases) of marketable securities, net | - | -2 | - | - |
| Sales of marketable securities, net | -1 | 22 | 0 | 0 |
| Investments in unconsolidated affiliates, net of payments received | 35 | 16 | 1 | 14 |
| Investments in debt and equity securities | -1 | - | 1 | 0 |
| Proceeds from sale of property, plant, and equipment | - | 0 | 75 | 0 |
| Other | -2 | -2 | 4 | 0 |
| Net cash used in investing activities | -196 | -1,104 | -550 | -346 |
| Proceeds from issuance of debt | 650 | 2,480 | 0 | 2,000 |
| Payment of debt issuance costs | 4 | 8 | -1 | 29 |
| Repayment of debt and principal payments on finance leases | 683 | 2,517 | 536 | 44 |
| Proceeds from revolving credit facility | 550 | 2,000 | 500 | 600 |
| Repayment of revolving credit facility | 350 | 1,200 | 500 | 1,700 |
| Payments related to employee stock incentive plans, net | - | 67 | - | - |
| Payments related to employee stock incentive plans | 8 | - | 32 | 0 |
| Repurchase of common stock | 552 | 212 | 0 | 657 |
| Contingent consideration and deferred purchase price payments | 4 | 7 | 6 | 14 |
| Other | - | 0 | 0 | -11 |
| Net cash used in financing activities | -433 | 535 | -572 | 145 |
| Effect of foreign currency exchange rate changes on cash | -22 | 0 | -11 | 57 |
| (decrease) increase in cash and cash equivalents | -33 | 166 | -225 | 299 |
| Cash and cash equivalents at beginning of period | 1,980 | 1,814 | 2,039 | 1,740 |
| Cash and cash equivalents at end of period | 1,947 | 1,980 | 1,814 | 2,039 |
IQVIA HOLDINGS INC. (IQV)
IQVIA HOLDINGS INC. (IQV)