该报告暂无中文版，以下为英文版分析。
按公开的固定规则计算，不是模型的主观判断——但其中一项输入（高等级风险的条数）取自下方的 AI 分析。
非投资建议，也不是目标价——评的是本季基本面，不是股价。 完整方法论 →
AI核心结论
IQVIA (IQV) delivered solid Q1 FY2026 results with revenue growing 8.4% YoY to $4.15B and net income rising 10.0% to $274M, though operating margin compressed slightly to 12.4% amid elevated debt levels and aggressive share buybacks.
营收
41.51亿美元
同比 +8.41%
每股收益（稀释）
1.61美元
同比 +15.00%
营业利润
5.14亿美元
同比 +3.63%
SEC XBRL 原值
Iqvia Holdings (IQV) Q1 FY2026 营收 41.51亿美元，同比增长 8.4%。 营业利润率 12.4%，较去年同期的 13.0% 收窄 0.6 个百分点。 经营活动现金流 6.18亿美元，同比增长 8.8%。 IQV 的财年 Q1 FY2026 对应日历 Q1 2026。
近 4 个季度：2 次超预期
| 季度 | 实际 EPS（美元） | 市场预期（美元） | 结果 |
|---|---|---|---|
| 2026年6月 | 3.15 | 3.06 | 超预期 +2.9% |
| 2026年3月本次财报 | 2.90 | 2.85 | 超预期 +1.9% |
| 2025年12月 | 3.42 | 3.43 | 不及预期 -0.3% |
| 2025年9月 | 3.00 | 3.00 | 不及预期 -0.0% |
2026年3月 调整后（非 GAAP） EPS 2.90美元，分析师一致预期 2.85美元，超预期 +1.9%。 分析师一致预期按市场通行的调整后（非 GAAP）口径。本季 GAAP 稀释每股收益为 1.61美元。
由 AI 基于本次 SEC 报告整理
Revenue increased 8.4% YoY to $4.15B in Q1 FY2026 (from $3.83B in Q1 FY2025), reflecting continued demand for IQVIA's clinical research, technology, and data analytics services in the life sciences sector.
来源: 10-Q Income Statement
Net income grew 10.0% YoY to $274M, while diluted EPS surged 15.0% to $1.61 (from $1.40), with EPS growth outpacing net income growth due to share count reduction from aggressive buybacks of $552M in the quarter.
来源: 10-Q Income Statement & Cash Flow Statement
Operating margin declined modestly to 12.4% from 13.0% in the prior-year period, even as SG&A expenses fell 1.2% YoY to $502M, suggesting higher cost of revenues or increased D&A (up 8.7% to $288M) weighed on profitability.
来源: 10-Q Income Statement & Key Ratios
Operating cash flow rose 8.8% YoY to $618M, closely tracking revenue growth and demonstrating the company's ability to convert earnings into cash, supporting both capital investment and shareholder returns.
来源: 10-Q Cash Flow Statement
IQVIA repurchased $552M in shares during Q1 FY2026, a 47.2% increase over the $375M bought back in Q1 FY2025, reflecting management's confidence in the business and contributing to EPS accretion despite elevated debt.
来源: 10-Q Cash Flow Statement
由 AI 基于本次 SEC 报告整理 · 高 2 中 2 低 1
Long-term debt stands at $14.0B as of Q1 FY2026, up 6.7% YoY, resulting in a debt-to-equity ratio of 3.75x. This elevated leverage increases interest expense burden and limits financial flexibility, particularly in a higher-for-longer interest rate environment.
来源: 10-Q Balance Sheet & Key Ratios
The current ratio of 0.75x indicates that current liabilities ($8.33B) significantly exceed current assets ($6.22B), a gap that widened as current liabilities grew 16.0% YoY. While common in service businesses with deferred revenue, this signals potential short-term liquidity pressure.
来源: 10-Q Balance Sheet & Key Ratios
Operating margin declined approximately 57 basis points YoY to 12.4%, even as SG&A costs were reduced. If cost pressures from D&A growth (up 8.7%) or cost of revenues continue to outpace revenue growth, profitability could erode further.
来源: 10-Q Income Statement & Key Ratios
IQVIA spent $552M on share buybacks in Q1 FY2026 while carrying $14.0B in long-term debt, resulting in net financing outflows of $433M. This capital allocation strategy, while EPS-accretive, may constrain the company's ability to deleverage or invest organically.
来源: 10-Q Cash Flow Statement & Balance Sheet
ROA of 0.92% and ROE of 4.4% are relatively modest, reflecting the capital-intensive and debt-heavy nature of IQVIA's balance sheet. These metrics suggest the company generates limited returns per dollar of assets or equity deployed, which may concern value-focused investors.
来源: 10-Q Key Ratios
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
营收 亿美元 | 41.51 亿美元 | 38.29 亿美元 | +8.41% |
营业利润 亿美元 | 5.14 亿美元 | 4.96 亿美元 | +3.63% |
净利润 亿美元 | 2.74 亿美元 | 2.49 亿美元 | +10.04% |
每股收益（基本） 美元 | 1.63 美元 | 1.42 美元 | +14.79% |
每股收益（稀释） 美元 | 1.61 美元 | 1.40 美元 | +15.00% |
销售及管理费用 亿美元 | 5.02 亿美元 | 5.08 亿美元 | -1.18% |
答案基于本次 SEC 报告与本页数据
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