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Side-by-side financial comparison of IQVIA (IQV) and Molson Coors Beverage Company (TAP). Click either name above to swap in a different company.
IQVIA is the larger business by last-quarter revenue ($4.4B vs $3.1B, roughly 1.4× Molson Coors Beverage Company). IQVIA runs the higher net margin — 11.8% vs 7.6%, a 4.2% gap on every dollar of revenue. On growth, IQVIA posted the faster year-over-year revenue change (10.3% vs -3.6%). IQVIA produced more free cash flow last quarter ($561.0M vs $357.8M). Over the past eight quarters, IQVIA's revenue compounded faster (8.1% CAGR vs 1.2%).
IQVIA Holdings, Inc., headquartered in Durham, North Carolina, is an American company focused on health information technology and clinical research.
Molson Coors Beverage Company is a Canadian-American multinational drink and brewing company headquartered in Chicago, Illinois and Montreal, Quebec.
IQV vs TAP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.4B | $3.1B |
| Net Profit | $514.0M | $238.3M |
| Gross Margin | — | 31.0% |
| Operating Margin | 14.4% | 10.4% |
| Net Margin | 11.8% | 7.6% |
| Revenue YoY | 10.3% | -3.6% |
| Net Profit YoY | 17.6% | -17.2% |
| EPS (diluted) | $2.97 | $1.32 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.4B | $3.1B | ||
| Q3 25 | $4.1B | $3.5B | ||
| Q2 25 | $4.0B | $3.7B | ||
| Q1 25 | $3.8B | $2.7B | ||
| Q4 24 | $4.0B | $3.2B | ||
| Q3 24 | $3.9B | $3.6B | ||
| Q2 24 | $3.8B | $3.8B | ||
| Q1 24 | $3.7B | $3.0B |
| Q4 25 | $514.0M | $238.3M | ||
| Q3 25 | $331.0M | $-2.9B | ||
| Q2 25 | $266.0M | $428.7M | ||
| Q1 25 | $249.0M | $121.0M | ||
| Q4 24 | $437.0M | $287.8M | ||
| Q3 24 | $285.0M | $199.8M | ||
| Q2 24 | $363.0M | $427.0M | ||
| Q1 24 | $288.0M | $207.8M |
| Q4 25 | — | 31.0% | ||
| Q3 25 | — | 33.7% | ||
| Q2 25 | — | 34.3% | ||
| Q1 25 | — | 31.6% | ||
| Q4 24 | — | 32.0% | ||
| Q3 24 | 23.5% | 33.4% | ||
| Q2 24 | 22.6% | 34.6% | ||
| Q1 24 | 22.1% | 31.6% |
| Q4 25 | 14.4% | 10.4% | ||
| Q3 25 | 13.5% | -98.5% | ||
| Q2 25 | 12.6% | 15.6% | ||
| Q1 25 | 13.0% | 6.9% | ||
| Q4 24 | 15.8% | 12.0% | ||
| Q3 24 | 14.1% | 12.5% | ||
| Q2 24 | 13.6% | 15.6% | ||
| Q1 24 | 13.5% | 10.3% |
| Q4 25 | 11.8% | 7.6% | ||
| Q3 25 | 8.1% | -84.0% | ||
| Q2 25 | 6.6% | 11.5% | ||
| Q1 25 | 6.5% | 4.5% | ||
| Q4 24 | 11.0% | 8.9% | ||
| Q3 24 | 7.3% | 5.5% | ||
| Q2 24 | 9.5% | 11.1% | ||
| Q1 24 | 7.7% | 6.8% |
| Q4 25 | $2.97 | $1.32 | ||
| Q3 25 | $1.93 | $-14.79 | ||
| Q2 25 | $1.54 | $2.13 | ||
| Q1 25 | $1.40 | $0.59 | ||
| Q4 24 | $2.41 | $1.39 | ||
| Q3 24 | $1.55 | $0.96 | ||
| Q2 24 | $1.97 | $2.03 | ||
| Q1 24 | $1.56 | $0.97 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.1B | $896.5M |
| Total DebtLower is stronger | — | $6.3B |
| Stockholders' EquityBook value | $6.5B | $10.2B |
| Total Assets | $29.9B | $22.7B |
| Debt / EquityLower = less leverage | — | 0.61× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.1B | $896.5M | ||
| Q3 25 | $2.0B | $950.2M | ||
| Q2 25 | $2.2B | $613.8M | ||
| Q1 25 | $1.9B | $412.7M | ||
| Q4 24 | $1.8B | $969.3M | ||
| Q3 24 | $1.7B | $1.0B | ||
| Q2 24 | $1.7B | $1.6B | ||
| Q1 24 | $1.6B | $458.4M |
| Q4 25 | — | $6.3B | ||
| Q3 25 | — | $6.3B | ||
| Q2 25 | — | $6.3B | ||
| Q1 25 | — | $6.2B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.2B | ||
| Q2 24 | — | $7.0B | ||
| Q1 24 | — | $6.2B |
| Q4 25 | $6.5B | $10.2B | ||
| Q3 25 | $6.2B | $10.3B | ||
| Q2 25 | $5.8B | $13.4B | ||
| Q1 25 | $6.0B | $13.1B | ||
| Q4 24 | $6.1B | $13.1B | ||
| Q3 24 | $7.0B | $13.3B | ||
| Q2 24 | $6.7B | $13.2B | ||
| Q1 24 | $6.3B | $13.1B |
| Q4 25 | $29.9B | $22.7B | ||
| Q3 25 | $28.7B | $22.9B | ||
| Q2 25 | $28.6B | $26.8B | ||
| Q1 25 | $27.3B | $25.9B | ||
| Q4 24 | $26.9B | $26.1B | ||
| Q3 24 | $27.2B | $26.6B | ||
| Q2 24 | $26.4B | $27.4B | ||
| Q1 24 | $26.6B | $26.1B |
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.47× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $735.0M | $540.7M |
| Free Cash FlowOCF − Capex | $561.0M | $357.8M |
| FCF MarginFCF / Revenue | 12.9% | 11.4% |
| Capex IntensityCapex / Revenue | 4.0% | 5.9% |
| Cash ConversionOCF / Net Profit | 1.43× | 2.27× |
| TTM Free Cash FlowTrailing 4 quarters | $2.1B | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $735.0M | $540.7M | ||
| Q3 25 | $908.0M | $616.1M | ||
| Q2 25 | $443.0M | $718.3M | ||
| Q1 25 | $568.0M | $-90.7M | ||
| Q4 24 | $885.0M | $494.5M | ||
| Q3 24 | $721.0M | $521.2M | ||
| Q2 24 | $588.0M | $869.2M | ||
| Q1 24 | $522.0M | $25.4M |
| Q4 25 | $561.0M | $357.8M | ||
| Q3 25 | $772.0M | $483.0M | ||
| Q2 25 | $292.0M | $555.0M | ||
| Q1 25 | $426.0M | $-328.0M | ||
| Q4 24 | $721.0M | $383.4M | ||
| Q3 24 | $571.0M | $350.4M | ||
| Q2 24 | $445.0M | $691.7M | ||
| Q1 24 | $377.0M | $-189.3M |
| Q4 25 | 12.9% | 11.4% | ||
| Q3 25 | 18.8% | 13.9% | ||
| Q2 25 | 7.3% | 14.8% | ||
| Q1 25 | 11.1% | -12.2% | ||
| Q4 24 | 18.2% | 11.8% | ||
| Q3 24 | 14.7% | 9.7% | ||
| Q2 24 | 11.7% | 18.0% | ||
| Q1 24 | 10.1% | -6.2% |
| Q4 25 | 4.0% | 5.9% | ||
| Q3 25 | 3.3% | 3.8% | ||
| Q2 25 | 3.8% | 4.4% | ||
| Q1 25 | 3.7% | 8.8% | ||
| Q4 24 | 4.1% | 3.4% | ||
| Q3 24 | 3.9% | 4.7% | ||
| Q2 24 | 3.7% | 4.6% | ||
| Q1 24 | 3.9% | 7.0% |
| Q4 25 | 1.43× | 2.27× | ||
| Q3 25 | 2.74× | — | ||
| Q2 25 | 1.67× | 1.68× | ||
| Q1 25 | 2.28× | -0.75× | ||
| Q4 24 | 2.03× | 1.72× | ||
| Q3 24 | 2.53× | 2.61× | ||
| Q2 24 | 1.62× | 2.04× | ||
| Q1 24 | 1.81× | 0.12× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
