IQVIA(US:IQV)2025-10-28 11:05Revenue Performance - Third-quarter 2025 revenue was $4,100 million, an increase of 5.2% year-over-year[3]. - Year-to-date revenue for 2025 reached $11,946 million, a 4.4% increase compared to the same period in 2024[7]. - Revenues for Q3 2025 reached $4,100 million, a 5.2% increase from $3,896 million in Q3 2024[21]. - Full-year 2025 revenue guidance is between $16,150 million and $16,250 million, with Adjusted EBITDA expected between $3,775 million and $3,800 million[11]. Profitability Metrics - Third-quarter GAAP Net Income was $331 million, with Adjusted Net Income of $515 million and Adjusted Diluted Earnings per Share of $3.00[5][8]. - Net income attributable to IQVIA Holdings Inc. for Q3 2025 was $331 million, up from $285 million in Q3 2024, representing a 16.1% increase[21]. - Adjusted EBITDA for Q3 2025 was $949 million, slightly up from $939 million in Q3 2024[27]. - Adjusted net income for Q3 2025 was $515 million, compared to $523 million in Q3 2024, and for the nine months ended September 30, 2025, it was $1,480 million, slightly up from $1,478 million in the prior year[29]. - Adjusted earnings per share for Q3 2025 were $3.00 diluted, compared to $2.84 diluted in Q3 2024, and for the nine months ended September 30, 2025, it was $8.50 diluted, up from $8.02 in the prior year[29]. Cash Flow and Assets - Operating Cash Flow for the third quarter was $908 million, with Free Cash Flow of $772 million, representing a 35% increase year-over-year[10][8]. - Net cash provided by operating activities for Q3 2025 was $908 million, compared to $721 million in Q3 2024, and for the nine months ended September 30, 2025, it was $1,919 million, up from $1,831 million[31]. - Total current assets as of September 30, 2025, were $5,979 million, compared to $5,829 million as of December 31, 2024, reflecting a 2.6% increase[23]. - Cash and cash equivalents at the end of Q3 2025 were $1,814 million, up from $1,702 million at the end of 2024[23]. Debt and Leverage - The company maintains a Net Leverage Ratio of 3.52x trailing twelve-month Adjusted EBITDA[10]. - Long-term debt, less current portion, was $12,793 million as of September 30, 2025, slightly down from $12,838 million at the end of 2024[23]. - Gross debt as of September 30, 2025, was $14,957 million, with a gross leverage ratio of 4.00x based on the last twelve months adjusted EBITDA of $3,738 million[33]. - Net debt as of September 30, 2025, was $13,143 million, resulting in a net leverage ratio of 3.52x[33]. Stock and Shareholder Activities - The company repurchased $1,032 million of common stock during the nine months ended September 30, 2025[25]. - The weighted average diluted shares outstanding decreased to 171.7 million in Q3 2025 from 184.2 million in Q3 2024[21]. - Stock-based compensation for Q3 2025 was $55 million, slightly up from $54 million in Q3 2024, and for the nine months ended September 30, 2025, it was $187 million, compared to $158 million in the prior year[29]. Other Financial Metrics - The company reported third-quarter net new bookings of $2.6 billion, resulting in a book-to-bill ratio of 1.15x[4][8]. - RFP growth accelerated to 20% year-over-year, indicating strong demand across all customer segments[6]. - Acquisition-related expenses for Q3 2025 were $15 million, up from $7 million in Q3 2024, and for the nine months ended September 30, 2025, they were $31 million, compared to $21 million in the same period last year[29]. - Restructuring and related expenses for Q3 2025 were $30 million, down from $38 million in Q3 2024, and for the nine months ended September 30, 2025, they were $114 million, compared to $99 million in the prior year[29].