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IQVIA Q2 adjusted EPS grew 12.1% y/y to $3.15; revenues rose 8.7% to $4.37B and beat estimates.
IQVIA's R&DS new bookings climbed 19% to $3.2 billion, while trailing-12-month bookings rose 13% to $11.3B.
IQVIA had a 0.71 current ratio, $14.1B in net debt and net leverage near 3.6X adjusted EBITDA.
IQVIA Holdings (IQV - Free Report) reported second-quarter 2026 adjusted earnings of $3.15 per share, rising 12.1% year over year and beating the Zacks Consensus Estimate of $3.02 by 4.3%. Revenues of $4.37 billion increased 8.7% and topped the consensus mark of $4.29 billion by 1.6%.
How Is IQVIA Doing?
IQV’s information base includes more than one billion longitudinal, non-identified patient records, about 61 petabytes of proprietary data, nearly 150,000 data suppliers and global data feeds exceeding one million.
IQVIA Connected Intelligence combines this information with advanced analytics, technology and Healthcare-grade AI. In the second quarter of 2026, management said that AI-enabled capabilities were improving study design, patient recruitment and commercial analytics, with clients expanding beyond pilot programs.
IQVIA addresses a market exceeding $330 billion across outsourced R&D, real-world evidence, and connected health and technology-enabled clinical and commercial services. In the second quarter of 2026, Research & Development Solutions’ (R&DS) net new bookings increased 19% year over year to $3.2 billion, while trailing-12-month bookings escalated 13% to $11.3 billion.
The company repurchased shares worth $950 million in the first half of 2026, following a $398-million repurchase in the second quarter of 2026, leaving $2.8 billion of authorization as of June 30, 2026.
The operating cash flow rose in the second quarter of 2026 rose 26% year over year to $558 million, while the free cash flow increased 23.3% to $360 million. Continued repurchases reduce the share count and support earnings per share.
Meanwhile, IQVIA had $6.2 billion in current assets against $8.8 billion in current liabilities as of June 30, 2026, implying a current ratio of 0.71. The current portion of long-term debt rose to $2.3 billion from $1.8 billion at the end of 2025. Net debt was $14.1 billion and net leverage stood at 3.6X adjusted EBITDA.
IQVIA currently is devoid of any plan to pay out cash dividends on its common stock. Any future dividend would depend on its financial condition, cash requirements and contractual restrictions. Income-seeking investors therefore should not expect dividends from IQVIA shares.
PAYX’s adjusted earnings were $1.34 per share, rising 9.8% year over year and beating the Zacks Consensus Estimate of $1.33 by a slight margin. Total revenues rose 5.9% to $1.63 billion, topping the consensus mark of $1.62 billion by a small margin.
Fiserv (FISV - Free Report) posted second-quarter 2026 adjusted earnings of $1.84 per share, missing the Zacks Consensus Estimate of $1.89 by 2.6%. Adjusted earnings declined 26% from the year-ago quarter as profitability contracted sharply.
GAAP revenues of $5.29 billion beat the consensus mark of $5.05 billion by 4.8% but decreased 4% year over year.
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Extensive Database & Solid Bookings Benefit IQVIA Amid Low Liquidity
Key Takeaways
IQVIA Holdings (IQV - Free Report) reported second-quarter 2026 adjusted earnings of $3.15 per share, rising 12.1% year over year and beating the Zacks Consensus Estimate of $3.02 by 4.3%. Revenues of $4.37 billion increased 8.7% and topped the consensus mark of $4.29 billion by 1.6%.
How Is IQVIA Doing?
IQV’s information base includes more than one billion longitudinal, non-identified patient records, about 61 petabytes of proprietary data, nearly 150,000 data suppliers and global data feeds exceeding one million.
IQVIA Connected Intelligence combines this information with advanced analytics, technology and Healthcare-grade AI. In the second quarter of 2026, management said that AI-enabled capabilities were improving study design, patient recruitment and commercial analytics, with clients expanding beyond pilot programs.
IQVIA addresses a market exceeding $330 billion across outsourced R&D, real-world evidence, and connected health and technology-enabled clinical and commercial services. In the second quarter of 2026, Research & Development Solutions’ (R&DS) net new bookings increased 19% year over year to $3.2 billion, while trailing-12-month bookings escalated 13% to $11.3 billion.
The company repurchased shares worth $950 million in the first half of 2026, following a $398-million repurchase in the second quarter of 2026, leaving $2.8 billion of authorization as of June 30, 2026.
The operating cash flow rose in the second quarter of 2026 rose 26% year over year to $558 million, while the free cash flow increased 23.3% to $360 million. Continued repurchases reduce the share count and support earnings per share.
Meanwhile, IQVIA had $6.2 billion in current assets against $8.8 billion in current liabilities as of June 30, 2026, implying a current ratio of 0.71. The current portion of long-term debt rose to $2.3 billion from $1.8 billion at the end of 2025. Net debt was $14.1 billion and net leverage stood at 3.6X adjusted EBITDA.
IQVIA currently is devoid of any plan to pay out cash dividends on its common stock. Any future dividend would depend on its financial condition, cash requirements and contractual restrictions. Income-seeking investors therefore should not expect dividends from IQVIA shares.
Earnings Snapshot of Peers
Paychex (PAYX - Free Report) reported an impressive first-quarter fiscal 2027.
PAYX’s adjusted earnings were $1.34 per share, rising 9.8% year over year and beating the Zacks Consensus Estimate of $1.33 by a slight margin. Total revenues rose 5.9% to $1.63 billion, topping the consensus mark of $1.62 billion by a small margin.
Fiserv (FISV - Free Report) posted second-quarter 2026 adjusted earnings of $1.84 per share, missing the Zacks Consensus Estimate of $1.89 by 2.6%. Adjusted earnings declined 26% from the year-ago quarter as profitability contracted sharply.
GAAP revenues of $5.29 billion beat the consensus mark of $5.05 billion by 4.8% but decreased 4% year over year.