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Side-by-side financial comparison of IQVIA (IQV) and Workday, Inc. (WDAY). Click either name above to swap in a different company.
IQVIA is the larger business by last-quarter revenue ($4.2B vs $2.4B, roughly 1.7× Workday, Inc.). Workday, Inc. runs the higher net margin — 10.4% vs 6.6%, a 3.7% gap on every dollar of revenue. On growth, Workday, Inc. posted the faster year-over-year revenue change (12.6% vs 8.4%). Workday, Inc. produced more free cash flow last quarter ($550.0M vs $491.0M). Over the past eight quarters, Workday, Inc.'s revenue compounded faster (12.5% CAGR vs 4.3%).
IQVIA Holdings, Inc., headquartered in Durham, North Carolina, is an American company focused on health information technology and clinical research.
Workday, Inc. is a leading global enterprise cloud software provider that develops and distributes human capital management, financial management, and enterprise resource planning solutions. It caters primarily to mid-sized and large organizations across sectors including education, healthcare, finance, and technology, with operations spanning North America, Europe, and Asia Pacific.
IQV vs WDAY — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.2B | $2.4B |
| Net Profit | $275.0M | $252.0M |
| Gross Margin | — | — |
| Operating Margin | 12.4% | 10.6% |
| Net Margin | 6.6% | 10.4% |
| Revenue YoY | 8.4% | 12.6% |
| Net Profit YoY | 10.0% | 30.6% |
| EPS (diluted) | $1.61 | $0.94 |
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.
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.4B | $2.4B | ||
| Q3 25 | $4.1B | $2.3B | ||
| Q2 25 | $4.0B | $2.2B | ||
| Q1 25 | $3.8B | $2.2B | ||
| Q4 24 | $4.0B | $2.2B | ||
| Q3 24 | $3.9B | $2.1B | ||
| Q2 24 | $3.8B | $2.0B |
| Q1 26 | $275.0M | — | ||
| Q4 25 | $514.0M | $252.0M | ||
| Q3 25 | $331.0M | $228.0M | ||
| Q2 25 | $266.0M | $68.0M | ||
| Q1 25 | $249.0M | $94.0M | ||
| Q4 24 | $437.0M | $193.0M | ||
| Q3 24 | $285.0M | $132.0M | ||
| Q2 24 | $363.0M | $107.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 23.5% | — | ||
| Q2 24 | 22.6% | — |
| Q1 26 | 12.4% | — | ||
| Q4 25 | 14.4% | 10.6% | ||
| Q3 25 | 13.5% | 10.6% | ||
| Q2 25 | 12.6% | 1.7% | ||
| Q1 25 | 13.0% | 3.4% | ||
| Q4 24 | 15.8% | 7.6% | ||
| Q3 24 | 14.1% | 5.3% | ||
| Q2 24 | 13.6% | 3.2% |
| Q1 26 | 6.6% | — | ||
| Q4 25 | 11.8% | 10.4% | ||
| Q3 25 | 8.1% | 9.7% | ||
| Q2 25 | 6.6% | 3.0% | ||
| Q1 25 | 6.5% | 4.3% | ||
| Q4 24 | 11.0% | 8.9% | ||
| Q3 24 | 7.3% | 6.3% | ||
| Q2 24 | 9.5% | 5.4% |
| Q1 26 | $1.61 | — | ||
| Q4 25 | $2.97 | $0.94 | ||
| Q3 25 | $1.93 | $0.84 | ||
| Q2 25 | $1.54 | $0.25 | ||
| Q1 25 | $1.40 | $0.34 | ||
| Q4 24 | $2.41 | $0.72 | ||
| Q3 24 | $1.55 | $0.49 | ||
| Q2 24 | $1.97 | $0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.9B | $6.8B |
| Total DebtLower is stronger | $15.8B | — |
| Stockholders' EquityBook value | $6.3B | $8.9B |
| Total Assets | $29.7B | $17.8B |
| Debt / EquityLower = less leverage | 2.49× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.1B | $6.8B | ||
| Q3 25 | $2.0B | $8.2B | ||
| Q2 25 | $2.2B | $8.0B | ||
| Q1 25 | $1.9B | $8.0B | ||
| Q4 24 | $1.8B | $7.2B | ||
| Q3 24 | $1.7B | $7.4B | ||
| Q2 24 | $1.7B | $7.2B |
| Q1 26 | $15.8B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $3.0B |
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.5B | $8.9B | ||
| Q3 25 | $6.2B | $9.2B | ||
| Q2 25 | $5.8B | $8.9B | ||
| Q1 25 | $6.0B | $9.0B | ||
| Q4 24 | $6.1B | $8.6B | ||
| Q3 24 | $7.0B | $8.3B | ||
| Q2 24 | $6.7B | $8.2B |
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.9B | $17.8B | ||
| Q3 25 | $28.7B | $18.0B | ||
| Q2 25 | $28.6B | $17.2B | ||
| Q1 25 | $27.3B | $18.0B | ||
| Q4 24 | $26.9B | $16.4B | ||
| Q3 24 | $27.2B | $16.2B | ||
| Q2 24 | $26.4B | $15.9B |
| Q1 26 | 2.49× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.37× |
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 | $618.0M | $588.0M |
| Free Cash FlowOCF − Capex | $491.0M | $550.0M |
| FCF MarginFCF / Revenue | 11.8% | 22.6% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | 2.25× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $2.1B | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $618.0M | — | ||
| Q4 25 | $735.0M | $588.0M | ||
| Q3 25 | $908.0M | $616.0M | ||
| Q2 25 | $443.0M | $457.0M | ||
| Q1 25 | $568.0M | $1.1B | ||
| Q4 24 | $885.0M | $406.0M | ||
| Q3 24 | $721.0M | $571.0M | ||
| Q2 24 | $588.0M | $372.0M |
| Q1 26 | $491.0M | — | ||
| Q4 25 | $561.0M | $550.0M | ||
| Q3 25 | $772.0M | $588.0M | ||
| Q2 25 | $292.0M | $421.0M | ||
| Q1 25 | $426.0M | $1.0B | ||
| Q4 24 | $721.0M | $359.0M | ||
| Q3 24 | $571.0M | $516.0M | ||
| Q2 24 | $445.0M | $291.0M |
| Q1 26 | 11.8% | — | ||
| Q4 25 | 12.9% | 22.6% | ||
| Q3 25 | 18.8% | 25.0% | ||
| Q2 25 | 7.3% | 18.8% | ||
| Q1 25 | 11.1% | 46.4% | ||
| Q4 24 | 18.2% | 16.6% | ||
| Q3 24 | 14.7% | 24.7% | ||
| Q2 24 | 11.7% | 14.6% |
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 1.6% | ||
| Q3 25 | 3.3% | 1.2% | ||
| Q2 25 | 3.8% | 1.6% | ||
| Q1 25 | 3.7% | 3.9% | ||
| Q4 24 | 4.1% | 2.2% | ||
| Q3 24 | 3.9% | 2.6% | ||
| Q2 24 | 3.7% | 4.1% |
| Q1 26 | 2.25× | — | ||
| Q4 25 | 1.43× | 2.33× | ||
| Q3 25 | 2.74× | 2.70× | ||
| Q2 25 | 1.67× | 6.72× | ||
| Q1 25 | 2.28× | 11.83× | ||
| Q4 24 | 2.03× | 2.10× | ||
| Q3 24 | 2.53× | 4.33× | ||
| Q2 24 | 1.62× | 3.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IQV
Segment breakdown not available.
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
