IQVIA(US:IQV)2025-02-06 12:04Financial Performance - Fourth-quarter revenue was $3,958 million, a 2.3% increase year-over-year, with full-year revenue of $15,405 million, up 2.8%[4] - Technology & Analytics Solutions (TAS) revenue for Q4 was $1,658 million, growing 8.3% year-over-year, while full-year TAS revenue reached $6,160 million, up 5.1%[4][7] - Research & Development Solutions (R&DS) revenue for Q4 was $2,123 million, a decrease of 1.3% year-over-year, with full-year R&DS revenue at $8,527 million, up 1.6%[4][7] - GAAP Net Income for Q4 was $437 million, down 6.8% year-over-year, while full-year GAAP Net Income was $1,373 million, up 1.1%[6][8] - Adjusted EBITDA for Q4 was $996 million, a 3.1% increase year-over-year, with full-year Adjusted EBITDA of $3,684 million, up 3.2%[6][8] - Revenues for Q4 2024 reached $3,958 million, a 2.3% increase from $3,868 million in Q4 2023; total revenues for 2024 were $15,405 million, up 2.8% from $14,984 million in 2023[22] - Net income for Q4 2024 was $437 million, compared to $469 million in Q4 2023; total net income for 2024 was $1,373 million, slightly up from $1,358 million in 2023[22] - Adjusted EBITDA for Q4 2024 was $996 million, a 3.1% increase from $966 million in Q4 2023; total adjusted EBITDA for 2024 was $3,684 million, up from $3,569 million in 2023[29] Cash Flow and Assets - Operating Cash Flow for 2024 was $2,716 million, up 26% year-over-year, and Free Cash Flow was $2,114 million, up 41% year-over-year[9] - Free cash flow for Q4 2024 was $721 million, with total free cash flow for 2024 amounting to $2,114 million[34] - Cash and cash equivalents increased to $1,702 million as of December 31, 2024, compared to $1,376 million at the end of 2023[24] - Total assets grew to $26,899 million in 2024, up from $26,681 million in 2023[24] - Total liabilities increased to $20,832 million in 2024, compared to $20,569 million in 2023[24] Share Repurchase and Guidance - The company repurchased $1.35 billion of its shares in 2024, with an additional $2 billion share repurchase authorization announced in February 2025[10] - The 2025 revenue guidance is set at $15,725 million to $16,125 million, with Adjusted EBITDA expected between $3,765 million and $3,885 million[11] - The company anticipates revenue growth at constant currency ex-COVID of 4% to 7% for 2025, with Adjusted Diluted Earnings per Share growth of 5% to 9%[11] Debt and Leverage - As of December 31, 2024, gross debt is reported at $13,983 million[35] - Net debt stands at $12,281 million as of December 31, 2024[35] - The gross leverage ratio is calculated at 3.80x[35] - The net leverage ratio is reported at 3.33x[35] Other Financial Metrics - R&DS contracted backlog as of December 31, 2024, was $31.1 billion, growing 4.4% year-over-year, with an expected revenue conversion of approximately $7.9 billion in the next twelve months[5] - The company reported a restructuring cost of $67 million for the year 2024, down from $84 million in 2023[22] - The weighted average diluted shares outstanding decreased to 180.8 million in Q4 2024 from 184.3 million in Q4 2023[22] - The company repurchased $1,350 million of common stock in 2024, compared to $992 million in 2023[26]