IQVIA Reports Fourth-Quarter and Full-Year 2024 Results; Reaffirms Full-Year 2025 Guidance
*February 6, 2025* — IQVIA (NYSE: IQV) announced its financial results for the fourth quarter and full year of 2024, along with reaffirmed guidance for 2025.
- Fourth-Quarter Results:
- Revenue reached $3,958 million.
- GAAP Net Income was $437 million, or $2.42 per diluted share.
- Adjusted EBITDA totaled $996 million, with Adjusted Diluted Earnings per Share at $3.12.
- Operating Cash Flow was $885 million, contributing to full-year Operating Cash Flow of $2,716 million, up 26% year-over-year.
- Free Cash Flow for the quarter was $721 million, bringing full-year Free Cash Flow to $2,114 million, up 41% year-over-year.
- Full-Year Results:
- Revenue totaled $15,405 million.
- GAAP Net Income was $1,373 million, or $7.49 per diluted share.
- Adjusted EBITDA was $3,684 million, with Adjusted Diluted Earnings per Share at $11.13.
- The company reported R&D Solutions bookings exceeding $2.5 billion, resulting in a book-to-bill ratio of 1.20x. R&D Solutions' contracted backlog was $31.1 billion, up 5.5% year-over-year at constant currency.
- TAS Revenue for Q4 was $1,658 million, up 9.5% from Q4 2023, and $6,160 million for the full year, up 5.7% year-over-year, both at constant currency.
- 2025 Guidance:
- IQVIA reaffirmed its 2025 outlook with revenue growth at constant currency, excluding COVID-related impact, expected between 4% to 7%.
- Adjusted EBITDA margin is expected to expand by up to 20 basis points, and Adjusted Diluted Earnings per Share is forecasted to grow by 5% to 9%.
- Full-year 2025 Revenue guidance is $15,725 million to $16,125 million, with Adjusted EBITDA ranging from $3,765 million to $3,885 million and Adjusted Diluted Earnings per Share projected at $11.70 to $12.10.