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Specialty business services · Industrials · Fiscal year ends Dec 31
NIQ Global Intelligence reported revenue of $4.2B in the fiscal year ended Dec 2025, up 5.7% from the year before. Operating income was $85M, an operating margin of 2.0%, and net income was −$353M. Operating cash flow of $299M less capital expenditure of $35M left free cash flow of $264M. Net debt was $3.1B.
Ranks among the 21 specialty business services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Revenue | 3,341 | 3,973 | 4,198 |
| Cost of revenue | 1,512 | 1,772 | 1,862 |
| Gross profit | 1,830 | 2,201 | 2,336 |
| Selling, general & admin | 1,449 | 1,601 | 1,598 |
| Operating income | −109 | −99.8 | 85.4 |
| Pre-tax income | −513 | −691 | −210 |
| Income tax | 51.8 | 114 | 136 |
| Net income | −577 | −798 | −353 |
| Diluted EPS | −2.35 | −3.26 | −1.32 |
| Diluted shares | 245 | 245 | 267 |
| Fiscal year | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Cash & equivalents | 283 | 266 | 519 |
| Receivables | – | 645 | 696 |
| Current assets | – | 1,194 | 1,450 |
| Net PP&E | – | 208 | 208 |
| Goodwill | 2,366 | 2,210 | 2,432 |
| Total assets | – | 6,373 | 6,802 |
| Payables | – | 217 | 224 |
| Deferred revenue | – | 273 | 262 |
| Current liabilities | – | 1,366 | 1,403 |
| Short-term debt | – | 121 | 108 |
| Long-term debt | – | 3,960 | 3,503 |
| Total liabilities | – | 6,074 | 5,576 |
| Shareholders' equity | 1,217 | 59.7 | 988 |
| Backlog (remaining obligations) | – | – | 1,600 |
| Fiscal year | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Operating cash flow | −11.8 | 73.9 | 299 |
| Capital expenditure | 24.2 | 35.4 | 34.7 |
| Free cash flow | −36.0 | 38.5 | 264 |
| Depreciation & amortisation | 461 | 597 | 633 |
| Stock-based compensation | 4.3 | 4.7 | 61.1 |
| Acquisitions | 1,428 | −20.2 | 26.7 |
| Fiscal year | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Revenue growth (YoY) | – | 18.9% | 5.7% |
| Gross margin | 54.8% | 55.4% | 55.6% |
| Operating margin | −3.3% | −2.5% | 2.0% |
| Net margin | −17.3% | −20.1% | −8.4% |
| Return on equityBlank when equity is negative | −47.5% | −1336.7% | −35.7% |
| ROCEEBIT ÷ (assets − current liabilities) | – | −2.0% | 1.6% |
| Free cash flow margin | −1.1% | 1.0% | 6.3% |
| Cash conversion (CFO ÷ net income) | 0.02x | −0.09x | −0.85x |
| Receivable days | – | 59 | 60 |
| Payable days | – | 45 | 44 |
| Debt ÷ equity | – | 68.4x | 3.65x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | 3,815 | 3,091 |
| Current ratio | – | 0.87x | 1.03x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.