IQVIA Holdings Inc. logo IQV - IQVIA Holdings Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 1
BUY 35
HOLD 7
SELL 1
STRONG
SELL 0
| PRICE TARGET: $219.44 DETAILS
HIGH: $250.00
LOW: $185.00
MEDIAN: $215.00
CONSENSUS: $219.44
UPSIDE: 30.80%
Annual Quarterly
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1
Revenue
Revenue 4,151 4,364 4,100 4,017 3,829 3,958 3,896 3,814 3,737 3,868 3,736 3,728 3,652 3,739 3,562 3,552 3,568 3,636 3,391 3,436 3,409 3,298 2,786 2,524 2,754 2,895 2,771 2,740 2,684 2,688 2,594 2,567 2,563 2,577 2,466 2,355 2,360 2,338.1 1,497 1,553 1,490 1,521.7 1,424.8 1,443.5 1,347.6 1,411.1 1,400.0 1,341.0 1,307.8 1,379.2 1,195.8 1,295.7 1,228.8 1,278.6 1,199.6 1,230.8 1,156.6
Cost of Revenue 2,796 4,072 2,727 2,694 2,531 2,580 2,518 2,757 2,444 2,478 2,426 2,443 2,398 2,407 2,321 2,601 2,323 2,364 2,253 2,323 2,293 2,172 1,800 2,012 1,824 1,901 2,151 1,799 1,748 1,742 1,678 1,674 1,652 1,607 1,611 1,557 1,526 1,476.6 1,056 1,121 1,076 1,090.0 1,014.3 1,053.0 979.4 1,021.9 1,030.1 980.1 946.3 1,017.2 863.8 969.1 912.5 961.3 898.1 914.1 859.1
Gross Profit 1,355 292 1,373 1,323 1,298 1,378 1,378 1,057 1,293 1,390 1,310 1,285 1,254 1,332 1,241 951 1,245 1,272 1,138 1,115 1,116 1,126 986 512 930 994 620 941 936 946 916 893 911 970 855 798 834 861.5 441 432 414 431.7 410.4 390.5 368.1 389.2 370.0 361.0 361.6 362.0 332.0 326.6 316.3 317.3 301.5 316.7 297.5
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5.8 0 0 0 0 0 0 0 10.4 0 0 0
SG&A Expenses 502 468 514 509 508 453 522 509 508 556 502 482 513 583 517 483 488 542 498 482 442 491 460 431 407 484 395 436 419 443 429 424 420 464 391 370 380 390 233.6 250.6 225.5 244.1 231.4 225.9 219.6 225.1 219.0 219.0 219.2 232.8 199.6 228.8 199.3 215.6 192.8 203.5 205.8
Other Expenses 339 (908) 306 308 294 299 306 0 279 333 327 279 270 370 252 0 262 267 338 347 332 346 339 0 330 344 0 308 307 296 306 299 308 303 266 294 251 406.6 66 66 35 9.7 12.0 6.2 5.3 5.2 1.8 0.9 1.0 2.2 7.2 2.8 1.9 7.2 (0.4) 12.3 (0.3)
Operating Expenses 841 (440) 820 817 802 752 828 509 787 889 829 761 783 953 769 483 750 809 836 829 774 837 799 431 737 828 395 744 726 739 735 723 728 767 660 672 632 716.8 273 282 235 253.8 243.4 232.1 224.9 230.3 220.8 220.0 220.2 235.0 206.8 231.7 201.2 222.9 192.3 215.8 205.5
Operating Income
Operating Income 514 732 553 506 496 626 550 548 506 501 481 524 471 379 472 468 495 468 302 288 342 289 187 81 193 166 225 197 210 207 181 170 183 203 197 151 168 144 167.8 150.7 178.8 178.0 167.0 158.4 143.2 158.9 149.1 141 141.3 127.0 125.3 94.9 115.2 94.4 109.1 100.9 92.0
Interest Expense 192 193 189 182 165 171 170 163 166 181 181 169 141 128 108 94 86 90 92 94 99 102 100 108 106 109 114 114 110 106 105 107 96 97 93 81 75 71.1 24.5 22.5 26.0 25.5 25.4 25.5 25.3 26.0 25.1 24.8 24.7 26.8 28.8 31.9 36.0 38.4 33.5 33.1 29.3
Interest Income 6 11 13 10 11 11 13 12 11 12 14 4 6 6 4 2 1 2 2 1 1 2 1 1 2 2 3 2 2 3 2 1 2 2 2 1 2 1.8 0.7 0.8 0.6 0.8 1.1 1.5 0.9 0.6 0.6 1.0 1.3 1.6 1.1 0.8 0.5 1.5 0.8 0.3 0.4
Profitability
EBITDA 808 1,047 883 781 753 1,018 797 883 767 870 827 803 756 760 716 685 741 721 701 654 679 640 521 391 524 519 482 486 514 504 439 477 463 464 435 374 434 317.5 202 185 207 218.8 202.0 170.4 177.3 190.8 187.7 168.8 176.5 157.4 150.5 103.6 142.6 119.0 131.9 131.1 118.1
EBIT 520 730 597 505 488 715 519 614 503 554 530 544 503 403 468 415 486 459 365 311 356 296 202 83 208 205 183 192 219 210 156 195 181 186 179 129 202 126.9 168 153 175 184.3 169.1 140.4 146.9 158.9 157.5 138.9 147.4 126.9 123.2 78.6 118.0 93.5 106.1 107.4 94.8
Income Before Tax 328 572 408 323 310 549 350 438 337 367 354 378 360 275 353 327 396 377 273 223 261 193 105 (26) 108 88 68 79 108 106 53 92 92 89 90 52 126 55.8 143 131.9 149 158.8 143.7 114.9 121.6 132.9 132.5 114.1 122.7 100.0 94.4 47.2 82.0 55.1 72.6 74.2 65.5
Income Tax Expense 59 58 76 57 61 112 65 75 49 (102) 51 81 71 48 70 71 71 59 12 48 44 63 (3) (5) 17 68 (1) 8 41 30 (14) 24 19 (992) 1 (7) 12 227 38.5 36.8 42.6 51.0 40.2 31.7 36.1 39.0 41.3 32.4 37.4 27.6 27.5 8.8 32.1 20.0 21.5 27.6 24.3
Net Income 274 514 331 266 249 437 285 363 288 469 303 297 289 227 283 256 325 318 261 175 212 119 101 (23) 82 16 57 60 58 69 60 61 69 1,076 88 62 74 (178) 100 86 107 104.6 111.3 85.0 86.4 88.4 92.7 85.1 90.2 73.0 66.8 38.5 48.3 35.0 52.1 47.2 43.3
Per Share Data
EPS (Basic) 1.63 3.02 1.94 1.55 1.42 2.44 1.57 1.99 1.58 2.58 1.66 1.61 1.56 1.22 1.52 1.36 1.71 1.67 1.36 0.91 1.11 0.62 0.53 -0.12 0.43 0.09 0.29 0.31 0.29 0.34 0.30 0.30 0.33 5.14 0.39 0.35 0.32 -0.75 0.83 0.73 0.89 0.86 0.91 0.69 0.69 0.70 0.73 0.66 0.69 0.56 0.52 0.31 0.37 0.28 0.42 0.38 0.34
EPS (Diluted) 1.61 2.99 1.93 1.54 1.40 2.42 1.55 1.97 1.56 2.54 1.63 1.59 1.53 1.20 1.49 1.34 1.68 1.63 1.34 0.90 1.09 0.62 0.52 -0.12 0.42 0.09 0.29 0.30 0.29 0.34 0.29 0.29 0.32 5.02 0.38 0.34 0.32 -0.75 0.82 0.71 0.88 0.85 0.89 0.67 0.68 0.69 0.71 0.64 0.68 0.56 0.50 0.30 0.37 0.28 0.41 0.37 0.34
Shares Outstanding 168.4 170 170.2 171.8 175.7 178.9 182.1 182.2 181.9 181.9 182.9 184.4 185.8 185.7 186.5 188.3 190 190.8 191.5 191.6 191.5 191.3 191.3 190.9 191.6 192.6 194.5 196.2 197 199.5 202.3 205.7 207.5 209.3 214.3 217.6 230.1 238.8 118.9 119.5 119.4 121.0 122.8 123.8 124.5 125.6 127.5 129.0 129.9 129.2 128.9 122.7 128.9 125.5 125.5 125.5 125.5
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4
Current Assets
Cash & Cash Equivalents 1,947 1,980 1,814 2,039 1,740 1,702 1,572 1,545 1,444 1,376 1,224 1,382 1,494 1,216 1,274 1,428 1,387 1,366 1,470 1,807 2,305 1,814 1,464 1,109 927 837 863 938 936 891 827 879 960 959 1,103 902 862 1,198 1,209.7 955.7 1,053.2 977.2 1,081.8 803.6 779.1 867.4 645.0 636.5 741.4 778.1 609.7 585.7 454.3 567.7
Short-Term Investments 0 161 158 149 136 141 140 133 131 120 108 110 104 93 87 90 106 111 104 104 97 88 79 73 63 62 57 56 55 47 52 49 47 46 44 43 43 40 39.9 37.8 36.7 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 3,921 3,427 3,314 3,406 3,311 3,240 3,250 3,296 3,461 3,413 3,276 3,184 3,105 2,960 2,687 2,723 2,662 2,609 2,386 2,345 2,425 2,466 2,492 2,424 2,683 2,638 2,579 2,465 2,526 2,463 2,364 2,224 2,295 2,144 1,915 1,886 1,807 1,741 1,234.1 1,257.4 1,175.6 1,166 1,128.9 1,089.4 1,050.6 975.3 1,032.6 964.3 948.5 940.4 895.3 867.2 779.3 745.4
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 352 519 516 551 558 592 475 457 442 546 423 474 460 561 528 482 455 521 410 634 593 563 445 456 431 451 346 339 329 322 299 277 274 259 284 275 271 235 102.2 119.3 115.8 218 258.0 269.3 209.3 258.8 209.5 207.1 205.1 184.4 170.0 145.8 143.9 145.9
Total Current Assets 6,220 6,249 5,979 6,345 5,911 5,829 5,632 5,622 5,651 5,596 5,208 5,329 5,328 4,981 4,752 4,911 4,772 4,763 4,534 5,068 5,579 5,090 4,645 4,208 4,277 4,126 3,995 3,978 3,999 3,874 3,696 3,587 3,724 3,554 3,492 3,259 3,117 3,337 2,643.1 2,436.6 2,437.2 2,412.0 2,520.2 2,219.8 2,098.8 2,146.1 1,938.6 1,864.7 1,947.8 1,945.7 1,717.2 1,673.9 1,439.5 1,510.0
Non-Current Assets
Property, Plant & Equipment 809 823 824 816 768 773 772 768 791 819 790 829 845 863 840 899 938 903 889 900 909 953 942 946 934 954 941 956 954 434 417 415 432 440 428 430 410 406 184.2 189.6 189.0 188.4 194.7 176.8 179.5 190.3 190.9 196.4 195.9 199.6 197.4 196.7 190.2 194.0
Goodwill 16,544 16,616 15,948 15,611 15,027 14,710 15,091 14,477 14,516 14,567 14,288 14,178 14,015 13,921 13,177 13,104 13,532 13,301 13,124 12,551 12,415 12,654 12,363 12,133 11,989 12,159 11,919 11,937 11,857 11,800 11,794 11,844 12,041 11,850 11,598 11,258 10,915 10,727 691.4 716.6 719.7 719.7 724.0 463.6 463.0 464.4 468.6 410.3 409.5 409.6 412.5 295.3 297.6 302.4
Intangible Assets 4,803 4,962 4,707 4,596 4,503 4,499 4,734 4,608 4,725 4,839 4,907 4,942 4,757 4,820 4,718 4,733 4,917 4,943 4,812 4,770 4,915 5,205 5,222 5,262 5,328 5,514 5,546 5,701 5,811 5,951 6,103 6,297 6,580 6,591 6,567 6,493 6,398 6,390 346.8 352.8 362.3 368.1 374.4 263.2 270.5 280.2 288.3 282.5 289.1 298.1 310.2 271.7 274.0 272.8
Long-Term Investments 95 432 405 406 383 374 320 287 263 239 214 208 201 162 151 159 162 164 158 158 162 162 163 153 143 152 143 152 137 142 134 110 101 78 75 70 72 82 68.4 65.2 85.5 85.3 77.2 71.7 69.2 66.0 68.5 67.4 66.7 63.3 61.4 58.1 57.6 55.1
Other Non-Current Assets 846 505 474 513 485 520 467 478 476 455 459 435 468 472 488 487 528 491 411 385 380 386 377 358 287 227 240 242 248 239 258 265 244 235 192 178 179 177 99.0 97.1 94.5 110.1 108.7 111.9 120.0 122.8 120.6 123.6 119.5 117.7 110.9 111.3 135.5 127.5
Total Non-Current Assets 23,455 23,695 22,748 22,287 21,411 21,070 21,548 20,776 20,923 21,085 20,769 20,707 20,411 20,356 19,471 19,502 20,197 19,926 19,499 18,869 18,888 19,474 19,192 18,975 18,801 19,125 18,897 19,090 19,110 18,675 18,802 19,039 19,511 19,292 18,953 18,523 18,066 17,871 1,485.7 1,526.2 1,545.8 1,514.3 1,513.6 1,121.9 1,137.8 1,159.7 1,168.1 1,113.9 1,114.1 1,121.1 1,124.8 974.3 987.2 989.2
Total Assets 29,675 29,944 28,727 28,632 27,322 26,899 27,180 26,398 26,574 26,681 25,977 26,036 25,739 25,337 24,223 24,413 24,969 24,689 24,033 23,937 24,467 24,564 23,837 23,183 23,078 23,251 22,892 23,068 23,109 22,549 22,498 22,626 23,235 22,742 22,445 21,782 21,183 21,208 4,128.8 3,962.8 3,982.9 3,926.3 4,033.7 3,341.8 3,236.7 3,305.8 3,106.7 2,978.6 3,061.9 3,066.8 2,842.0 2,648.2 2,426.7 2,499.2
Current Liabilities
Account Payables 3,639 3,751 3,550 3,399 3,559 736 3,434 3,313 3,455 709 3,133 3,007 3,143 645 2,971 2,847 2,816 621 2,663 2,756 2,819 581 2,461 2,295 2,384 2,512 2,190 2,139 2,122 437 2,162 1,997 2,045 322 1,894 1,678 1,627 250 904.1 865.2 852.3 145 867.6 754.3 717.8 108.7 822.9 742.6 758.0 100.6 758.6 708.6 671.4 84.7
Short-Term Debt 1,844 1,840 2,164 1,313 1,222 1,145 1,219 1,167 717 718 1,309 1,344 1,343 152 151 152 90 91 91 147 144 149 144 142 139 100 98 100 100 100 101 101 104 103 103 94 91 92 48.5 48.5 48.5 55 48.5 48.5 5.9 0.8 20.7 20.7 15.6 10.4 4.1 0.1 34.7 55.7
Deferred Revenue 2,261 0 2,160 2,123 1,940 1,779 1,824 1,811 1,914 1,799 1,838 1,844 1,827 1,797 1,842 1,810 1,927 1,825 1,826 1,597 1,554 1,252 1,188 1,061 1,036 1,014 954 934 971 1,007 984 940 934 733 782 801 791 774 624.1 608.7 618.9 584.6 558.8 502.5 527.7 543.3 526 516.1 511.4 538.6 511.0 459.6 454.1 456.6
Other Current Liabilities 413 2,607 515 613 319 1,098 354 144 207 1,262 137 140 157 1,132 165 177 189 1,153 214 218 216 1,094 245 243 80 211 211 211 207 (1,166) 16 7 10 666 14 14 12 630 27.3 47.5 28.8 420 19.5 11.8 27.3 432.9 30.5 31.8 33.9 472.8 34.8 42.8 44.6 404.9
Total Current Liabilities 8,329 8,338 8,508 7,572 7,179 6,957 6,992 6,620 6,448 6,491 6,589 6,543 6,657 5,578 5,253 5,104 5,157 5,241 4,847 4,819 4,868 4,558 4,139 3,843 3,907 3,945 3,576 3,495 3,502 3,534 3,380 3,166 3,199 2,904 2,853 2,660 2,596 2,705 1,619.9 1,600.3 1,578.1 1,594.2 1,524.0 1,353.8 1,320.7 1,471.9 1,426.8 1,353.1 1,376.5 1,482.2 1,334.4 1,238.7 1,222.0 1,318.0
Non-Current Liabilities
Long-Term Debt 13,989 14,109 12,793 14,177 13,108 12,838 12,293 12,091 12,819 12,955 12,322 12,433 11,833 12,595 12,243 12,615 12,547 12,034 12,081 12,140 12,092 12,384 12,195 11,965 11,894 11,545 11,444 11,299 11,187 10,907 10,518 10,627 10,342 10,122 9,651 8,858 8,254 7,108 2,387.1 2,397.8 2,408.6 2,419.3 2,430.0 2,441.0 2,288.2 2,282.6 2,022.6 2,026.9 2,031.2 2,035.6 2,042.0 2,045.1 2,354.8 2,366.3
Deferred Tax Liabilities 159 179 207 216 197 196 128 149 164 202 365 367 421 464 560 494 455 410 297 266 337 338 429 539 618 646 654 671 742 736 734 813 828 918 2,014 2,069 2,140 2,133 13.1 12.7 14.8 65.7 89.6 57.9 58.9 61.8 25.6 33.9 35.6 37.5 16.6 8.4 16 11.6
Other Non-Current Liabilities 617 463 698 671 676 668 612 632 595 698 679 703 641 671 561 563 581 649 656 607 586 633 580 582 491 456 431 424 412 418 406 406 413 440 420 421 393 402 190.6 180.7 187.3 183 170.1 190.8 181.1 183.7 168.0 186.4 178.1 178.9 161.0 153.8 156.2 171.3
Total Non-Current Liabilities 14,997 14,976 13,931 15,274 14,158 13,875 13,221 13,064 13,782 14,078 13,583 13,745 13,150 13,994 13,623 13,957 13,893 13,406 13,357 13,358 13,362 13,726 13,591 13,488 13,369 13,043 12,922 12,792 12,742 12,061 11,658 11,846 11,583 11,480 12,085 11,348 10,787 9,643 2,590.8 2,591.2 2,610.7 2,667.8 2,689.7 2,689.7 2,528.3 2,537.9 2,216.2 2,247.2 2,244.9 2,252.0 2,219.6 2,207.3 2,527.0 2,540.2
Total Liabilities 23,326 23,314 22,439 22,846 21,337 20,832 20,213 19,684 20,230 20,569 20,172 20,288 19,807 19,572 18,876 19,061 19,050 18,647 18,204 18,177 18,230 18,284 17,730 17,331 17,276 16,988 16,498 16,287 16,244 15,595 15,038 15,012 14,782 14,384 14,938 14,008 13,383 12,348 4,210.7 4,191.5 4,188.9 4,262.0 4,213.7 4,043.5 3,849.0 4,009.8 3,642.9 3,600.2 3,621.4 3,734.3 3,554.0 3,446.1 3,749 3,858.2
Stockholders' Equity
Common Stock 11,404 11,378 3 3 3 3 3 3 3 3 10,994 10,952 10,909 10,898 10,853 10,790 10,745 3 10,747 10,696 11,068 11,095 11,070 11,043 11,012 11,049 10,990 10,964 10,927 10,901 10,876 10,836 10,797 10,782 10,761 10,721 10,656 10,602 48.8 1.2 25.9 8.8 239.6 28.5 179.0 143.8 368.0 346.1 495.9 478.1 510.1 505.1 9.2 4.6
Retained Earnings 7,699 7,425 6,911 6,580 6,314 6,065 5,628 5,343 4,980 4,692 4,223 3,920 3,623 3,334 3,107 2,824 2,568 2,243 1,925 1,664 1,489 1,277 1,158 1,057 1,080 998 981 925 865 807 726 665 605 655 (166) (255) (325) (399) (221.2) (320.4) (355.0) (461.6) (550.1) (661.4) (702.4) (788.8) (877.2) (969.9) (1,055.0) (1,145.2) (1,218.2) (1,284.9) (1,323.5) (1,371.8)
Accumulated Other Comprehensive Income (968) (943) (928) (882) (978) (1,038) (826) (949) (911) (867) (903) (760) (731) (727) (898) (697) (419) (406) (445) (327) (376) (205) (317) (444) (485) (311) (376) (215) (262) (224) (220) (104) 254 46 (79) (233) (444) (570) (141.0) (139.1) (105.8) (111.4) (95.5) (68.8) (89.0) (59.1) (27.0) 2.2 (0.4) (0.4) (3.9) (18.2) (8.4) 7.7
Total Stockholders' Equity 6,221 6,503 6,160 5,778 5,977 6,067 6,967 6,714 6,344 6,112 5,805 5,748 5,932 5,765 5,347 5,352 5,919 6,042 5,829 5,760 5,953 6,001 5,846 5,591 5,542 6,003 6,131 6,523 6,615 6,714 7,215 7,364 8,196 8,109 7,264 7,539 7,571 8,633 (313.4) (228.7) (205.9) (564.2) (179.9) (701.7) (612.3) (704.1) (536.2) (621.5) (559.5) (667.4) (712.0) (797.9) (1,322.3) (1,359.5)
Total Liabilities & Equity 29,675 29,944 28,727 28,632 27,322 26,899 27,180 26,398 26,574 26,681 25,977 26,036 25,739 25,337 24,223 24,413 24,969 24,689 24,033 23,937 24,467 24,564 23,837 23,183 23,078 23,251 22,892 23,068 23,109 22,549 22,498 22,626 23,235 22,742 22,445 21,782 21,183 21,208 4,128.8 3,962.8 3,982.9 3,926.3 4,033.7 3,341.8 3,236.7 3,305.8 3,106.7 2,978.6 3,061.9 3,066.8 2,842.0 2,648.2 2,426.7 2,499.2
Debt Metrics
Total Debt 16,065 16,174 15,190 15,700 14,507 14,156 13,700 13,450 13,740 13,896 13,848 14,019 13,431 13,011 12,653 13,052 12,947 12,438 12,495 12,632 12,583 12,904 12,726 12,509 12,573 12,041 11,935 11,797 11,688 11,007 10,619 10,728 10,446 10,225 9,754 8,952 8,345 7,200 2,435.6 2,446.3 2,457.1 2,467.8 2,478.5 2,489.5 2,294.2 2,293.3 2,043.3 2,047.6 2,046.8 2,046.0 2,046.1 2,045.3 2,389.5 2,422.0
Net Debt 14,118 14,194 13,376 13,661 12,767 12,454 12,128 11,905 12,296 12,520 12,624 12,637 11,937 11,795 11,379 11,624 11,560 11,072 11,025 10,825 10,278 11,090 11,262 11,400 11,646 11,204 11,072 10,859 10,752 10,116 9,792 9,849 9,486 9,266 8,651 8,050 7,483 6,002 1,225.9 1,490.7 1,403.9 1,490.7 1,396.7 1,685.9 1,515.1 1,426.0 1,398.2 1,411.2 1,305.4 1,267.9 1,436.4 1,459.6 1,935.2 1,854.2
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1
Operating Activities
Net Income 275 514 332 266 249 437 285 363 288 469 303 297 289 227 283 256 325 318 261 175 217 130 108 (21) 91 20 69 71 67 76 67 68 73 1,084 89 79 76 (174.3) 104.0 91.3 109.0 108.1 108.8 84.9 86.4 88.4 92.7 85.1 90.2 72.9 66.6 38.4 48.2 34.8 52.0 47.0 42.8
Depreciation & Amortization 288 317 286 276 265 303 278 269 264 316 297 259 253 357 248 270 255 262 336 343 323 344 319 308 316 314 299 294 295 294 283 282 282 278 256 245 232 190.6 34.6 32.0 31.7 34.5 32.9 30.0 30.3 31.9 30.2 29.8 29.1 30.6 27.3 25.0 24.6 25.6 25.7 23.7 23.3
Stock-Based Compensation 65 60 55 60 72 48 54 48 56 45 47 50 75 58 61 45 30 42 48 48 32 26 33 15 2 59 27 34 26 35 31 26 21 24 29 27 26 45.6 15.6 10.1 8.7 9.1 8.4 10.7 9.6 7.6 6.8 8.4 7.2 5.9 5.9 6.6 4.5 12.2 3.3 3.1 7.4
Change in Working Capital 10 (54) 452 (104) 4 105 151 (82) (16) (1) (22) (156) (175) (5) 278 (246) (111) 130 235 (15) 330 268 173 227 (209) 224 13 46 (264) (1) 31 29 (165) (56) (1) (5) (230) 259.2 87.3 (88.3) (46.2) 57.3 114.3 (59.0) (181.5) 123.8 21.3 (52.2) (138.8) 126.7 78.5 (31.5) (114.0) 70.4 10.4 3.7 (72.0)
Other Non-Cash Items 18 (54) (171) (10) 19 7 (13) 4 (4) 70 5 (5) 2 (14) 17 22 19 (5) 4 (8) 4 (2) (1) 5 3 (31) 10 3 1 7 1 (6) (3) (20) (1) 38 16 (13.3) 20.3 2.8 4.2 2.3 (5.1) (16.4) (8.3) (1.1) (3.6) (4.4) (14.6) (12.3) 2.1 11.6 4.1 2.9 2.4 1.1 (0.6)
Operating Cash Flow 618 735 908 443 568 885 721 588 522 747 583 402 417 560 863 329 508 692 844 539 867 750 574 472 163 583 330 391 113 417 344 311 182 233 436 245 56 447.1 260.2 40.6 112.1 206.3 282.9 50.8 (64.3) 256.0 137.1 67.1 (28.4) 215.5 176.5 26.8 (21.5) 160.0 88.4 82.7 4.6
Investing Activities
Capital Expenditure (127) (174) 293 (151) (142) (164) (150) (143) (145) (179) (146) (160) (164) (171) (165) (161) (177) (184) (162) (145) (149) (176) (157) (142) (141) (137) (149) (155) (141) (138) (123) (110) (88) (102) (89) (100) (78) (85.9) (20.7) (31.2) (26.2) (21.7) (24.8) (15.5) (16.4) (24.9) (21.9) (18.1) (17.7) (14.4) (13.7) (32.8) (31.5) (22.0) (15.4) (22.8) (11.1)
Acquisitions (72) (916) (456) (195) (147) (86) (428) (104) (142) (30) (428) (432) (25) (309) (552) (38) (436) (466) (929) (46) (20) (57) (26) (80) 3 (130) (254) (31) (173) (47) (47) (216) (16) (319) (246) (111) (151) 1,883.2 (2.8) (8.6) (1.9) (6.8) 29.6 (0.9) (2.5) (2.3) (91.3) (1.1) (1.9) 0.9 (146.2) (0.3) (4.4) 8.7 (40.3) (13.4) (2.4)
Purchases of Investments 0 (18) (1) (2) (17) (64) (19) 1 (27) (4) (3) (6) (40) (1) (1) (4) (3) (1) (1) (2) (8) (1) (1) 4 (13) (13) 0 (10) (2) (1) (6) (19) (1) (40) 0 1 (1) (0.6) (0.4) (2.1) (36.9) 0 0 (11.0) 0 0 0 0 0.4 (1.6) 0 0 0.7 0 (0.2) (6.6) (6.6)
Sales/Maturities of Investments 1 0 0 0 2 0 0 0 0 0 0 0 0 0 0 42 0 9 (4) 9 0 (2) (7) 0 0 (22) 0 0 0 (23) 123 110 0 2 0 100 0 15.0 0 26.0 0 0 0 0 0 0 0 0 5.9 2.3 0 0 0.1 0 0.4 0.5 0.1
Other Investing Activities 2 4 (386) 2 (1) 4 (2) 25 0 1 4 2 7 4 1 (38) 3 (5) 1 (1) 1 (1) 0 (1) 1 22 3 1 1 31 (129) (95) (15) 43 1 (90) (10) 1.1 1.6 (0.3) 21.5 0.9 1.2 (10.8) 0.7 0.0 0.4 0.2 (0.7) 0.6 (0.7) 1.9 (1.1) 0.7 (1.2) 0.8 (1.4)
Investing Cash Flow (196) (1,104) (550) (346) (305) (310) (599) (221) (314) (212) (573) (596) (222) (477) (717) (199) (613) (647) (1,095) (185) (176) (236) (191) (219) (150) (280) (400) (195) (315) (178) (182) (330) (120) (416) (334) (200) (240) 1,812.8 (22.3) (16.1) (43.5) (27.6) 6.1 (27.2) (18.3) (27.2) (112.9) (19.0) (14.0) (12.2) (160.6) (31.2) (36.2) (12.6) (56.7) (41.5) (21.5)
Financing Activities
Net Debt Issuance 163 755 (535) 856 164 783 66 (253) (43) (155) 9 612 336 (123) (39) 477 626 77 36 (36) (7) (97) (36) (40) 515 (58) 375 50 380 460 (75) 551 79 402 663 314 1,132 (1,275.4) (12.8) (13) (12) (12.3) (13.2) 214.7 (1.2) 249.0 (6.3) (0.1) (0.3) (2,062.6) (1.0) (350.5) (34.3) 169.7 (5.8) (5.6) 281.9
Stock Repurchased (552) (212) 1,032 (657) (375) (1,150) (200) 0 0 (229) (144) (490) (129) (65) (210) (490) (403) (204) (95) (45) (62) (101) 0 (1) (345) (270) (298) (236) (145) (604) (133) (573) (95) (368) (558) (378) (1,316) (999.4) 0 (98) 0 (265) 0 (250) 0 (250) 0 (165.1) 0 (6.4) (0.3) 0 0 (0.4) (2.5) (1.3) (9.2)
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (699) (1,613) (363) (4,488) (638) 0 0 0 0 0 0 0 (425) 0 0 0 (2,072.9) 0 0 0 (241.7) 0 0 (326.1)
Other Financing Activities (44) 59 (1,069) (54) (47) (8) (3) (7) (63) (36) (9) (27) (120) (5) (2) (16) (79) (11) (7) (782) (99) 0 (17) (32) (63) (11) (38) (14) (7) (11) 7 (30) (25) 11 (12) 30 8 68.9 9.1 13 7.0 6.3 18.4 (1.4) 9.1 6.7 16.0 2.8 (2.6) 2,000.3 (0.2) 0.5 0.2 (10.0) 0.1 0.5 0.2
Financing Cash Flow (433) 535 (572) 145 (258) (375) (137) (260) (106) (420) (144) 95 87 (193) (251) (29) 144 (138) (66) (863) (168) (198) (53) (73) 107 (343) 39 (200) 228 (158) (201) (52) (41) 45 93 (34) (176) (2,205.9) 24.4 (97.5) (5.0) (271.0) 5.3 (9.9) 26.3 14.0 9.7 (157.1) 3.0 (33.3) (1.5) 139.7 (34.0) (80.0) (8.2) (5.4) (53.3)
Cash Position
Net Change in Cash (33) 166 (225) 299 38 130 27 101 68 152 (158) (112) 278 (58) (154) 41 21 (104) (337) (498) 491 350 355 182 90 (26) (75) 2 45 64 (52) (81) 1 (144) 201 40 (336) (11.7) 254.0 (97.5) 76.1 (104.7) 278.2 24.5 (88.3) 222.3 8.6 (104.9) (36.8) 168.4 24.0 131.4 (113.4) 61.4 30.1 30.0 (70.0)
Cash at Beginning 1,980 1,814 2,039 1,740 1,702 1,572 1,545 1,444 1,376 1,224 1,382 1,494 1,216 1,274 1,428 1,387 1,366 1,470 1,807 2,305 1,814 1,464 1,109 927 837 863 938 936 891 827 879 960 959 1,103 902 862 1,198 1,209.7 955.7 1,053.2 977.2 1,081.8 803.6 779.1 867.4 645.0 636.5 741.4 778.1 609.7 585.7 454.3 567.7 506.3 476.2 446.3 516.3
Cash at End 1,947 1,980 1,814 2,039 1,740 1,702 1,572 1,545 1,444 1,376 1,224 1,382 1,494 1,216 1,274 1,428 1,387 1,366 1,470 1,807 2,305 1,814 1,464 1,109 927 837 863 938 936 891 827 879 960 959 1,103 902 862 1,198 1,209.7 955.7 1,053.2 977.2 1,081.8 803.6 779.1 867.4 645.0 636.5 741.4 778.1 609.7 585.7 454.3 567.7 506.3 476.2 446.3
Free Cash Flow 491 561 1,201 292 426 721 571 445 377 568 437 242 253 389 698 168 331 508 682 394 718 574 417 330 22 446 181 236 (28) 279 221 201 94 131 347 145 (22) 361.1 239.5 9.4 85.9 184.6 258.2 35.3 (80.8) 231.1 115.2 49.0 (46.1) 201.1 162.9 (6.0) (52.9) 138.0 73.0 59.9 (6.5)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1
Income Statement
Revenue 4,151 4,364 4,100 4,017 3,829 3,958 3,896 3,814 3,737 3,868 3,736 3,728 3,652 3,739 3,562 3,552 3,568 3,636 3,391 3,436 3,409 3,298 2,786 2,524 2,754 2,895 2,771 2,740 2,684 2,688 2,594 2,567 2,563 2,577 2,466 2,355 2,360 2,338.1 1,497 1,553 1,490 1,521.7 1,424.8 1,443.5 1,347.6 1,411.1 1,400.0 1,341.0 1,307.8 1,379.2 1,195.8 1,295.7 1,228.8 1,278.6 1,199.6 1,230.8 1,156.6
Gross Profit 1,355 292 1,373 1,323 1,298 1,378 1,378 1,057 1,293 1,390 1,310 1,285 1,254 1,332 1,241 951 1,245 1,272 1,138 1,115 1,116 1,126 986 512 930 994 620 941 936 946 916 893 911 970 855 798 834 861.5 441 432 414 431.7 410.4 390.5 368.1 389.2 370.0 361.0 361.6 362.0 332.0 326.6 316.3 317.3 301.5 316.7 297.5
Operating Income 514 732 553 506 496 626 550 548 506 501 481 524 471 379 472 468 495 468 302 288 342 289 187 81 193 166 225 197 210 207 181 170 183 203 197 151 168 144 167.8 150.7 178.8 178.0 167.0 158.4 143.2 158.9 149.1 141 141.3 127.0 125.3 94.9 115.2 94.4 109.1 100.9 92.0
Net Income 274 514 331 266 249 437 285 363 288 469 303 297 289 227 283 256 325 318 261 175 212 119 101 (23) 82 16 57 60 58 69 60 61 69 1,076 88 62 74 (178) 100 86 107 104.6 111.3 85.0 86.4 88.4 92.7 85.1 90.2 73.0 66.8 38.5 48.3 35.0 52.1 47.2 43.3
EPS (Diluted) 1.61 2.99 1.93 1.54 1.40 2.42 1.55 1.97 1.56 2.54 1.63 1.59 1.53 1.20 1.49 1.34 1.68 1.63 1.34 0.90 1.09 0.62 0.52 -0.12 0.42 0.09 0.29 0.30 0.29 0.34 0.29 0.29 0.32 5.02 0.38 0.34 0.32 -0.75 0.82 0.71 0.88 0.85 0.89 0.67 0.68 0.69 0.71 0.64 0.68 0.56 0.50 0.30 0.37 0.28 0.41 0.37 0.34
Balance Sheet
Cash & Equivalents 1,947 1,980 1,814 2,039 1,740 1,702 1,572 1,545 1,444 1,376 1,224 1,382 1,494 1,216 1,274 1,428 1,387 1,366 1,470 1,807 2,305 1,814 1,464 1,109 927 837 863 938 936 891 827 879 960 959 1,103 902 862 1,198 1,209.7 955.7 1,053.2 977.2 1,081.8 803.6 779.1 867.4 645.0 636.5 741.4 778.1 609.7 585.7 454.3 567.7
Total Assets 29,675 29,944 28,727 28,632 27,322 26,899 27,180 26,398 26,574 26,681 25,977 26,036 25,739 25,337 24,223 24,413 24,969 24,689 24,033 23,937 24,467 24,564 23,837 23,183 23,078 23,251 22,892 23,068 23,109 22,549 22,498 22,626 23,235 22,742 22,445 21,782 21,183 21,208 4,128.8 3,962.8 3,982.9 3,926.3 4,033.7 3,341.8 3,236.7 3,305.8 3,106.7 2,978.6 3,061.9 3,066.8 2,842.0 2,648.2 2,426.7 2,499.2
Total Debt 16,065 16,174 15,190 15,700 14,507 14,156 13,700 13,450 13,740 13,896 13,848 14,019 13,431 13,011 12,653 13,052 12,947 12,438 12,495 12,632 12,583 12,904 12,726 12,509 12,573 12,041 11,935 11,797 11,688 11,007 10,619 10,728 10,446 10,225 9,754 8,952 8,345 7,200 2,435.6 2,446.3 2,457.1 2,467.8 2,478.5 2,489.5 2,294.2 2,293.3 2,043.3 2,047.6 2,046.8 2,046.0 2,046.1 2,045.3 2,389.5 2,422.0
Stockholders' Equity 6,221 6,503 6,160 5,778 5,977 6,067 6,967 6,714 6,344 6,112 5,805 5,748 5,932 5,765 5,347 5,352 5,919 6,042 5,829 5,760 5,953 6,001 5,846 5,591 5,542 6,003 6,131 6,523 6,615 6,714 7,215 7,364 8,196 8,109 7,264 7,539 7,571 8,633 (313.4) (228.7) (205.9) (564.2) (179.9) (701.7) (612.3) (704.1) (536.2) (621.5) (559.5) (667.4) (712.0) (797.9) (1,322.3) (1,359.5)
Cash Flow
Operating Cash Flow 618 735 908 443 568 885 721 588 522 747 583 402 417 560 863 329 508 692 844 539 867 750 574 472 163 583 330 391 113 417 344 311 182 233 436 245 56 447.1 260.2 40.6 112.1 206.3 282.9 50.8 (64.3) 256.0 137.1 67.1 (28.4) 215.5 176.5 26.8 (21.5) 160.0 88.4 82.7 4.6
Capital Expenditure (127) (174) 293 (151) (142) (164) (150) (143) (145) (179) (146) (160) (164) (171) (165) (161) (177) (184) (162) (145) (149) (176) (157) (142) (141) (137) (149) (155) (141) (138) (123) (110) (88) (102) (89) (100) (78) (85.9) (20.7) (31.2) (26.2) (21.7) (24.8) (15.5) (16.4) (24.9) (21.9) (18.1) (17.7) (14.4) (13.7) (32.8) (31.5) (22.0) (15.4) (22.8) (11.1)
Free Cash Flow 491 561 1,201 292 426 721 571 445 377 568 437 242 253 389 698 168 331 508 682 394 718 574 417 330 22 446 181 236 (28) 279 221 201 94 131 347 145 (22) 361.1 239.5 9.4 85.9 184.6 258.2 35.3 (80.8) 231.1 115.2 49.0 (46.1) 201.1 162.9 (6.0) (52.9) 138.0 73.0 59.9 (6.5)