IQVIA Holdings Inc.
IQV evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for IQV—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · IQV
IQVIA Holdings Inc. is a global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry, operating through Research and Development Solutions (R&DS), Technology and Analytics Solutions (TAS), and Contract Sales and Medical Solutions (CSMS) segments.
Key risk: High debt level
BioSniper Score
Based on 4 of 6 signals
Financial data as of Mar 31, 2026.
Tracking 1 catalyst for IQVIA Holdings Inc..
IQVIA Holdings Inc. is a global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry, operating through Research and Development Solutions (R&DS), Technology and Analytics Solutions (TAS), and Contract Sales and Medical Solutions (CSMS) segments.
- Revenue of $4,151.0M for the quarter ended 2026-03-31 [sec].
- Cash and equivalents of $1,947.0M as of 2026-03-31 [sec].
- Record contracted backlog of $32.7 billion as of 2025 year-end, up 5.3% from 2024 [sec · filed 2026-02-27].
- Net income of $274.0M for the quarter ended 2026-03-31 [sec].
- Total debt of $15,833.0M as of 2026-03-31 [sec].
What works
- Record contracted backlog of $32.7 billion provides multi-year revenue visibility [sec · filed 2026-02-27].
- Expanded AI capabilities and launched several agentic AI products to simplify clinical trial workflows [sec · filed 2026-02-27].
- Added more than 400 net new R&DS clients in 2025, with strong momentum among emerging biopharmaceutical companies [sec · filed 2026-02-27].
- Achieved R&DS revenue growth of 4.3% in 2025 despite headwinds from U.S. policy changes [sec · filed 2026-02-27].
What to weigh
- Total debt of $15,833.0M as of 2026-03-31 represents a significant leverage position [sec].
- Eliminated approximately 3,300 roles in 2025 as part of a restructuring to improve operational effectiveness [sec · filed 2026-02-27].
- Cash balance decreased to $1,947 million as of March 31, 2026 from $1,980 million as of December 31, 2025 [sec_mda · as of 2026-05-05].
- Business faces risks from U.S. policy changes, high inflation, interest rates, and geopolitical unrest [sec · filed 2025-02-28].
From the filings
Quoted directly from source documents.
Record backlog of $32.7 billion
“industry-leading, record contracted backlog of $32.7 billion, 5.3% growth compared to 2024”
SEC filings · February 27, 2026
Cash balance as of March 31, 2026
“We had a cash balance of $1,947 million as of March 31, 2026”
SEC MD&A · May 5, 2026
Elimination of approximately 3,300 roles
“resulting in the elimination of approximately 3,300 roles”
SEC filings · February 27, 2026
R&DS revenue growth in 2025
“Achieved R&DS revenue growth of 4.3% compared to 2024”
SEC filings · February 27, 2026
Catalyst timeline
- 2042-05-27 · Patent/Exclusivity Expiry: TALICIA — Expiration of patent or exclusivity for TALICIA, which may affect related revenue streams.
Risks & what to watch (4)›
Key risks
- High debt level — Total debt of $15,833.0M as of 2026-03-31 increases financial risk and interest expense [sec].
- Restructuring execution risk — Elimination of ~3,300 roles may disrupt operations or affect employee morale [sec · filed 2026-02-27].
- Macroeconomic headwinds — U.S. policy changes, inflation, interest rates, and geopolitical uncertainty can impact client spending [sec · filed 2025-02-28].
- Backlog conversion uncertainty — Rate at which backlog converts to revenues is subject to delays and customer decisions [sec_mda · as of 2026-07-28].
What to watch
- Backlog conversion rate and new business bookings in R&DS [sec · filed 2026-02-27].
- Progress and adoption of AI-enabled products and platforms [sec · filed 2026-02-27].
- Debt refinancing activities and interest expense management [sec · filed 2026-02-27].
- Impact of U.S. Inflation Reduction Act and other regulatory changes on client demand [sec · filed 2025-02-28].
Sources: SEC filings · SEC MD&A · Generated August 26, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
Profitable (positive operating cash flow)
D/E 3.75 · 1% dilution
No tracked pipeline phase
No tracked pipeline candidates
1 upcoming, next in ~5749d
0 buys · 8 sells (180d)
Catalysts
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
1,065
Total value held
$25.07B
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 22,053,966 | $3.76B |
| blackrock, inc. | 15,027,444 | $2.56B |
| harris associates l p | 12,183,275 | $2.08B |
| vanguard portfolio management llc | 7,576,001 | $1.29B |
| state street corp | 7,476,962 | $1.28B |
| geode capital management, llc | 4,463,052 | $758.2M |
| alliancebernstein l.p. | 2,878,897 | $648.9M |
| morgan stanley | 2,609,867 | $445.1M |
| canada pension plan investment board | 1,999,089 | $340.9M |
| longview partners (guernsey) ltd | 1,897,474 | $323.6M |
Showing top 10 of 1,065 institutional holders of IQVIA Holdings Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 19, 2026- % of float
- 3.1%
- Days to cover
- 2.8
- Shares short
- 4,514,586
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
IQV short interestGovernance
Frequently asked questions
What is the AI investment thesis for IQVIA Holdings Inc.?
IQVIA Holdings Inc. is a global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry, operating through Research and Development Solutions (R&DS), Technology and Analytics Solutions (TAS), and Contract Sales and Medical Solutions (CSMS) segments.
What is IQVIA Holdings Inc.'s next catalyst?
IQVIA Holdings Inc.'s next tracked catalyst is a Patent_Expiry event — "Patent/Exclusivity Expiry: TALICIA" — expected May 27, 2042.
Who is the CEO of IQVIA Holdings Inc.?
Mr. Ari Bousbib is the chief executive officer of IQVIA Holdings Inc. (IQV).
Where is IQVIA Holdings Inc. headquartered?
IQVIA Holdings Inc. (IQV) is headquartered in Durham, NC, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.