Health Care · Life Sciences Tools & Services · US stock · price as of 16 Oct 2026
Key indicators
Price
$266.90
52-week range
$154.50 – $277.40
Market cap
$45.3B
P/E (trailing)
33.2×
EV / EBITDA
17.5×
Free-cash-flow yield
4.7%
Dividend yield
–
Revenue (last 12 months)
$16.6B
Revenue growth (3y a year)
4.2%
Operating margin
13.2%
Return on invested capital
9.3%
Net debt / EBITDA
4.1×
Fair value
Blended fair value$200.23 range $190 – $211
Versus priceOvervalued−25% to fair value
Peer multiples
$234.29
Fundamentals-adjusted multiple
$234.01
10-year DCF (market-scaled)
$132.38
Earnings power value (floor, not blended)
$38.74
Model uncertainty
Medium
X-Ray Score
42/ 100 · High confidence · ahead of 25% of sector peers
Valuation44
Growth56
Profitability52
Financial health11
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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.
StocksXray gives Iqvia Holdings Inc. an X-Ray Score of 42 out of 100 (high confidence), ahead of 25% of the S&P 500 stocks in its sector. Its strongest lens is growth (56) and its weakest is financial health (11).
Our fair value blend is $200.23 (range $189.57 to $210.91). At $266.90 the stock trades 33% above that blend, so the label is "Overvalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Iqvia Holdings Inc. (IQV)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$282.14
$204.89
$231.38
$196.51
$225.41
$266.90
Market cap
$55.0B
$39.1B
$43.1B
$36.0B
$39.1B
$45.3B
P/E
57.0×
35.8×
31.7×
26.2×
28.8×
33.2×
EV / revenue
4.7×
3.5×
3.7×
3.1×
3.2×
3.6×
EV / EBITDA
24.7×
17.2×
17.8×
14.5×
15.9×
17.6×
Price / free cash flow
23.9×
24.6×
28.7×
17.0×
19.1×
21.4×
Free-cash-flow yield
4.2%
4.1%
3.5%
5.9%
5.2%
4.7%
Price / book
9.1×
6.8×
7.1×
5.9×
6.0×
7.3×
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 1 Good · ● 9 Average · ● 5 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.4%Average
Free-cash-flow yield4.7%Average
Risk models
Altman Z score1.2×Bad
Piotroski F-Score4 of 9Bad
Growth
EPS growth (3y)11.1%Average
Free-cash-flow growth (3y)8.9%Average
Revenue growth (3y)4.2%Average
Growth consistency100%Good
Balance sheet
Current ratio0.7×Bad
Net debt / EBITDA4.1×Bad
Interest cover2.9×Bad
Valuation
Fair value vs price0.8×Average
EBIT / EV yield3.7%Average
Profitability
Return on invested capital9.3%Average
Operating margin13.2%Average
XStocksXray
Iqvia Holdings Inc. (IQV)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
13,874
14,410
14,984
15,405
16,310
16,632
Gross profit
–
–
–
–
–
–
Operating income
1,393
1,799
1,977
2,202
2,182
2,200
Net income
966
1,091
1,358
1,373
1,360
1,385
Diluted EPS ($)
4.95
5.72
7.29
7.49
7.84
8.05
Free cash flow
2,302
1,586
1,500
2,114
2,051
2,116
Gross margin
–
–
–
–
–
–
Operating margin
10.0%
12.5%
13.2%
14.3%
13.4%
13.2%
Net margin
7.0%
7.6%
9.1%
8.9%
8.3%
8.3%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
24,689
25,337
26,681
26,899
29,944
29,675
Cash
1,366
1,216
1,376
1,702
1,980
1,947
Total debt
12,125
12,747
13,673
13,983
15,724
15,833
Equity
6,042
5,765
6,112
6,067
6,503
6,221
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.