IQVIA Holdings Inc.

IQVNYSEHealthcare● Active

$184.16

+$0.71(+0.39%)

Market Cap$30.7B

P/E Ratio—

52W High$247.05

52W Low$146.44

Avg Volume1.6M

Open$184.72

Beta1.22

Free Cash Flow Financials Revenue

IQVIA Holdings Inc. (IQV) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

IQV · free cash flow · updated Jun 8, 2026

Core FCF metrics

IQV · FCF · TTM · margin & CAGR

Free cash flow was $2.05B for FY2025 (fiscal year ending 2025-12-31), down 3.0% year-over-year The FCF margin was 12.6%. Five-year CAGR stands at +8.8%.

FY2025 Free Cash Flow$2.05B▼ -3.0% YoY

Trailing 12M (TTM)$2.67Btrailing 4 quarters sum

FCF Margin12.6%$2.05B ÷ revenue

3-Year CAGR+8.9%FY2022 → FY2025

5-Year CAGR+8.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

IQV · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$2.65B(603M)$2.05B▼ 3.0%12.6%

FY2024$2.72B(602M)$2.11B▲ +40.9%13.7%

FY2023$2.15B(649M)$1.50B▼ 5.4%10.0%

FY2022$2.26B(674M)$1.59B▼ 31.1%11.0%

FY2021$2.94B(640M)$2.30B▲ +71.4%16.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

IQV · P/FCF · FCF yield · FCF per share

IQVIA Holdings Inc. (IQV) trades at a FCF yield of 8.68% and a price-to-free-cash-flow ratio of 11.9x. FCF per share stands at $15.54, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

8.68%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$15.54

TTM FCF ÷ Shares Outstanding

Price / FCF

x11.9

Share Price ÷ FCF per Share

EV / FCF (TTM)

x11.6

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

IQV · cash flow statement · operating / investing / financing

For FY2025, IQVIA Holdings Inc. generated $2.65B in operating cash flow and spent 603M in capital expenditures, yielding $2.05B in free cash flow.

Operating Activities

+$2.65B

Cash from core business operations

2025-12-31

Investing Activities

−$2.31B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$150.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($2.65B) − |CapEx| (603M) = FCF ($2.05B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

IQV vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

IQVIA Holdings Inc.YOU

IQV

$2.05B-3.0%12.6%

10%

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

IQVIA Holdings Inc. (IQV) reported free cash flow of $2.05B for FY2025 (fiscal year ending 2025-12-31), down 3.0% year-over-year. The FCF margin was 12.6%.

Based on available data, IQVIA Holdings Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $2.30B in FY2021. The 5-year CAGR stands at +8.8%.

IQVIA Holdings Inc.'s FCF yield is 8.68% and price-to-FCF ratio is 11.9x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

IQV free cash flow · 8 questions

IQVIA Holdings Inc. free cash flow was $2.05B for FY2025, down 3.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $2.67B.

IQV free cash flowIQV FCFIQV FCF 2025IQV free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · IQVIA Holdings Inc. · IQVIA Holdings Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026