Iqvia Holdings Inc. (IQV)

Health Care · Life Sciences Tools & Services · US stock · S&P 500 component

$278.32 ▲ +1.69 (0.61%)

At close 22 Oct 2026 · USD · Volume 1,672,402

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Fair valueFair

$278 −0.1% to fair value

$139fair band $237–$337$417

Day's range

$273.80 – $282.98

52-week range

$154.50 – $282.98

About Iqvia Holdings Inc.

Iqvia provides services and technology to the life sciences industry, helping drug, biotech and medical device companies plan and run clinical trials, analyse health data and bring products to market. Its customers include pharmaceutical and biotechnology firms, medical device makers and healthcare organisations. The company is organised around technology and analytics solutions, research and development solutions, and contract sales and medical solutions, drawing on large stores of healthcare data.

Revenue comes from multi-year research contracts and from data, analytics and technology services supplied to life sciences clients. It totals $16.6 billion over the last twelve months, growing at 4.2% a year across the last three years. The operating margin is 13.2%, and the business earns a profit of 9% on the capital invested in it. Iqvia carries net debt of 4.1 times EBITDA and does not pay a dividend. On the site's X-Ray Score it receives 43 out of 100.

Price chart

Interactive chart Historical data & CSV

52-wk range $154.50 – $282.98Volume 1,672,402Daily, split-adjusted

Vitals

Market cap$47.3B

52-week range$154.50 – $282.98

Volume (last day)1,672,402

P/E (TTM)34.6

EBIT / EV yield3.6%

Free-cash-flow yield4.5%

Dividend yieldNo dividend

Revenue (TTM)$16.6B

Net income (TTM)$1.4B

Operating margin13.2%

Return on capital9.3%

Debt incl. leases$15.8B

Cash & securities$2.1B

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$278middle half of models $252 – $313

Fair −0.1% to fair value

Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $278

Undervalued < $237Fair $237 – $337Overvalued > $337

P/E multiple

$276

P/B multiple

$252

P/S multiple

$376

EV/EBITDA multiple

$391

EV/EBIT multiple

$313

EV/revenue multiple

$346

10-year DCF, EBITDA exit

$304

5-year DCF, EBITDA exit

$309

10-year DCF, revenue exit

$302

5-year DCF, revenue exit

$307

10-year DCF, growth exit

$154

5-year DCF, growth exit

$132

Earnings power value

$153

Growth the price implies

19.7%/yr

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Weak business, fairly priced

The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better 32 The price is not above fair value $278 fair value Debt looks manageable 4.1× EBITDA Revenue has been growing 4.2% a year Profits are backed by cash There are no red flags none raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Weak

50/100

Expensive against its sector on earnings and cash flow.

See the numbers →

EBIT / EV yield3.6%

Free-cash-flow yield4.5%

Fair value vs price1.0×

Growth Fair

56/100

Growing at a typical pace for its sector.

See the numbers →

Revenue growth (3y)4.2%

EPS growth (3y)11.1%

Growth consistency100%

Profitability Fair

52/100

Returns on capital are typical for its sector.

See the numbers →

Return on invested capital9.3%

Operating margin13.2%

Financial health Weak

11/100

Balance sheet is more stretched than most peers.

See the numbers →

Piotroski F-Score4 / 9

Net debt / EBITDA4.1×

Interest cover2.9×

Dividends None

–/100

Pays no dividend.

See the numbers →

Quarterly results: last 6 quarters

+2.3%

Dec '24

+2.5%

Mar '25

+5.3%

Jun '25

+5.2%

Sep '25

+10.3%

Dec '25

+8.4%

Mar '26

Revenue against the same quarter a year earlier. Latest quarter revenue $4.2B, diluted EPS $1.61.

Compare with peers

MTD Mettler Toledo Interna...47 TECH BIO-TECHNE Corp45 A Agilent Technologies,...40 ILMN Illumina, Inc.39

Other Life Sciences Tools & Services companies by X-Ray Score.

SWOT analysis: Iqvia Holdings Inc.

Strengthsinside the company

No standout strength in the figures we track.

Weaknessesinside the company

Net debt is 4.1x EBITDA, above the 3x level that lenders usually watch.
Operating profit covers interest only 2.9x.
Altman Z-score of 1.2 is in the zone linked with financial distress in past studies.

Opportunitiesvaluation and setting

Price momentum is strong on the weekly and monthly signals (trends can reverse).

Threatsvaluation and setting

Heavy debt makes profits sensitive to interest rates and refinancing conditions.
Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare IQV with peers and sector

Medians of 8 Life Sciences Tools & Services peers and of 59 Health Care stocks in our universe. Largest peers (X-Ray Score): TMO 34, DHR 30, A 40, WAT 33, ILMN 39, MTD 47.

Metric	IQV	Peers	Sector
X-Ray Score (out of 100)	43	37	49
Valuation	50	23	55
Growth	56	28	47
Profitability	52	41	49
Financial health	11	45	48
Dividends	–	45	51

Sector leaders: highest X-Ray Score in Health Care

IQV ranks #43 of 60 in Health Care and #3 of 9 in Life Sciences Tools & Services by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 INCY Incyte Corp	80
#2 DXCM Dexcom Inc	78
#3 PODD Insulet Corp	72
#4 RMD Resmed Inc	70
#5 ZTS Zoetis Inc.	69
…
#43 IQV Iqvia Holdings Inc. (this stock)	43

Metric	IQV	Peers	Sector
P/E ratio	34.1x	39.1x	28.0x
PEG ratio	3.08	12.24	2.29
Price / book	7.6x	5.6x	3.7x
Price / sales	2.8x	7.4x	3.8x
EV / EBITDA	18.2x	35.9x	17.5x
Price / free cash flow	22.3x	39.3x	22.4x
Dividend yield	–	0.6%	1.0%
Gap to our fair value	−0.1%	−14.4%	−1.8%

Metric	IQV	Peers	Sector
Price change, 1 month	+3.0%	+5.6%	+7.6%
Price change, 3 months	+40.2%	+29.5%	+13.3%
Price change, 6 months	+58.8%	+34.1%	+22.1%
Price change, 1 year	+27.8%	+21.0%	+20.7%

Metric	IQV	Peers	Sector
Market value	$47.3B	$43.0B	$50.8B
Revenue (last 12 months)	$16.6B	$4.6B	$14.3B
EBITDA (last 12 months)	$3.4B	$1.0B	$2.7B
Net income (last 12 months)	$1.4B	$906M	$1.4B
Free cash flow (last 12 months)	$2.1B	$931M	$2.3B

Metric	IQV	Peers	Sector
Revenue growth, last year	+5.9%	+3.4%	+7.2%
Revenue growth, 3 years a year	+4.2%	+0.4%	+5.6%
EPS growth, 3 years a year	+11.1%	−1.3%	+4.5%
Free cash flow growth, 3 years a year	+8.9%	+4.8%	+4.2%
Dividend growth	–	+3.2%	+4.2%

Metric	IQV	Peers	Sector
Gross margin	–	60.3%	65.0%
EBITDA margin	20.2%	20.0%	21.2%
Operating margin	13.2%	20.0%	16.9%
Net margin	8.3%	15.9%	12.3%
Return on invested capital	9.3%	8.5%	12.5%
Return on equity	22.3%	13.3%	13.6%

Metric	IQV	Peers	Sector
Net debt / EBITDA	4.1x	3.2x	2.0x
Interest cover	2.9x	12.2x	10.4x
Current ratio	0.7x	1.7x	1.5x
Piotroski F-score (0 to 9)	4	5.5	6

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for IQV

Each factor is rated by where IQV stands among the 60 Health Care stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 2 Good · 13 Average · 6 Bad of 21 Growth: 0 · 3 · 0 Profitability: 1 · 3 · 0 Financial strength: 0 · 0 · 4 Valuation: 0 · 4 · 1 Cash flow: 1 · 3 · 0 Efficiency: 0 · 0 · 1

Factor	IQV	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	+4.2%	Average beats 43%	+5.5%	–	–
Revenue growth, last year	+5.9%	Average beats 39%	+7.1%	+4.0%	≈ In line
EPS growth, 3 years a year	+11.1%	Average beats 66%	+5.0%	–	–
Profitability
Operating margin	13.2%	Average beats 41%	16.4%	13.2%	≈ In line
Net margin	8.3%	Average beats 35%	11.1%	8.3%	≈ In line
Return on invested capital	9.3%	Average beats 38%	12.2%	–	–
Return on equity	22.3%	Good beats 73%	13.7%	20.9%	≈ In line
Financial strength
Net debt / EBITDA	4.1x	Bad beats 13%	2.0x	3.9x	≈ In line
Interest cover	2.9x	Bad beats 14%	9.4x	3.3x	≈ In line
Current ratio	0.75	Bad beats 1%	1.52	0.86	▼ Worse
Piotroski F-score	4 / 9	Bad beats 10%	6 / 9	–	–
Valuation
P/E ratio	34.1x	Average beats 39%	28.2x	31.7x	≈ In line
Price / book	7.6x	Bad beats 26%	3.7x	6.8x	▼ Worse
Price / sales	2.8x	Average beats 57%	3.7x	2.7x	≈ In line
EV / EBITDA	18.2x	Average beats 48%	17.6x	17.2x	≈ In line
Free cash flow yield	4.5%	Average beats 53%	4.4%	4.2%	≈ In line
Cash flow
Free cash flow margin	12.7%	Average beats 36%	16.3%	12.6%	≈ In line
Cash from operations / net income	1.95	Good beats 83%	1.61	1.98	≈ In line
Free cash flow growth, 3 years a year	+8.9%	Average beats 62%	+4.3%	–	–
Accruals (lower is better)	−4.4%	Average beats 65%	−3.9%	–	–
Efficiency
Days sales outstanding	73 days	Bad beats 23%	62 days	76 days	≈ In line

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 1 Good · ● 9 Average · ● 5 Bad

Cash quality

Earnings backed by cashAverage

Free-cash-flow yieldAverage

Risk models

Altman Z''Bad

Piotroski F-ScoreBad

Growth

EPS growth (3y)Average

Free-cash-flow growth (3y)Average

Revenue growth (3y)Average

Growth consistencyGood

Balance sheet

Current ratioBad

Net debt / EBITDABad

Interest coverBad

Valuation

Fair value vs priceAverage

EBIT / EV yieldAverage

Profitability

Return on invested capitalAverage

Operating marginAverage

Each check is graded against the company's sector, not a fixed number. Checklist score 42/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$13.9B	$14.4B	$15.0B	$15.4B	$16.3B
Operating income	$1.4B	$1.8B	$2.0B	$2.2B	$2.2B
Net income	$966M	$1.1B	$1.4B	$1.4B	$1.4B
Operating cash flow	$2.9B	$2.3B	$2.1B	$2.7B	$2.7B
Operating margin	10.0%	12.5%	13.2%	14.3%	13.4%
Free cash flow	$2.3B	$1.6B	$1.5B	$2.1B	$2.1B
Diluted EPS	$4.95	$5.72	$7.29	$7.49	$7.84

Fiscal years, from SEC filings.

Technical summary

Daily

Strongly bullish

12 bullish · 1 neutral · 3 bearish

Weekly

Strongly bullish

11 bullish · 0 neutral · 1 bearish

Monthly

Strongly bullish

7 bullish · 1 neutral · 0 bearish

Moving averages (daily)

SMA 10	267.1	Bullish
EMA 10	269.2	Bullish
SMA 20	265.6	Bullish
EMA 20	266.7	Bullish
SMA 50	262.5	Bullish
EMA 50	257.5	Bullish
SMA 100	233.3	Bullish
EMA 100	240.1	Bullish
SMA 200	208.6	Bullish
EMA 200	221.8	Bullish

Oscillators (daily)

RSI (14)	64.72	Neutral
MACD (12, 26)	3.08	Bullish
Momentum (12)	7.05	Bullish
Stochastic %K (14)	84.68	Bearish
Williams %R (14)	-15.32	Bearish
CCI (20)	187.6	Bearish

Pivot points (classic, last session)

264.6

269.2

273.8

Pivot

278.4

282.9

287.5

292.1

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

ETFs that hold IQV

ETF	Share of the fund
COWZ Pacer US Cash Cows 100	0.81%
IYH iShares U.S. Healthcare	0.64%
FHLC Fidelity MSCI Health Care Index	0.58%
XLV Health Care Select Sector SPDR	0.56%
VOE Vanguard Mid-Cap Value	0.56%
JAVA JPMorgan Active Value	0.55%
VHT Vanguard Health Care	0.49%
CURE Direxion Daily Healthcare Bull 3X	0.45%

The eight funds with the largest weight in IQV among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.