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IQVIA IQV Operating margin

Operating margin at other companies

Thermo Fisher Scientific logo
Thermo Fisher ScientificTMO
17.2%+0.8pp
UnitedHealth Group logo
UnitedHealth GroupUNH
4.2%-4.0pp
Labcorp Holdings logo
Labcorp HoldingsLH
10.2%+1.9pp
Cognizant logo
CognizantCTSH
15.8%+0.6pp
Oracle logo
OracleORCL
30.6%-0.4pp
Veeva Systems logo
Veeva SystemsVEEV
28.8%+1.8pp

Other financials

Income statement

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Revenue$4.2B+8.4%
Gross profit$1.4B+4.4%
Operating income$514.0M+3.6%
Net income$274.0M+10.0%
EPS (diluted)$1.61+15.0%

Balance sheet

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Cash & equivalents$1.9B+11.9%
Total debt$16.1B+10.7%
Total equity$6.2B+4.1%
Total assets$29.7B+8.6%

Cash flow

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Operating cash flow$618.0M+8.8%
CapEx$127.0M-10.6%
Free cash flow$491.0M+15.3%

Valuation

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Market cap$28B-7.9%
Enterprise value$42.12B-2.5%
P/E20.2×-2.6×
P/S1.7×-0.3×

Profitability

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Gross margin33%-1.7pp
Net margin8.3%-0.3pp
FCF margin12.7%-1.2pp

Returns & leverage

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Return on equity22.7%+1.1pp
Debt / equity2.6×+0.2×
Current ratio0.7×-0.1×

Where this comes from

Calculated from IQVIA’s reported figures.

Based on trailing twelve months.

The official record: IQVIA’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is IQVIA's operating margin?
IQVIA (IQV) reported operating margin of 13.2% in Q1 2026.
How has IQVIA's operating margin changed year-over-year?
IQVIA's operating margin decreased by 6.5% year-over-year, from 14.1% to 13.2%.
What is the long-term trend for IQVIA's operating margin?
Over 5 years (2020 to 2025), IQVIA's operating margin has grown at a 15.8% compound annual growth rate (CAGR), from 6.4% to 13.4%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.