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IQV

NYSE · USD
IQVIA Holdings Inc.
Healthcare · Medical - Diagnostics & Research
CEO Ari Bousbib Employees 93,000 R&D / revenue 0.0%
Last price
$266.90−1.53%last session
Market cap
$43.9B
P/E (TTM)
32.8x
From 52w high
−3.8%
From 52w low
+72.8%
1-year return
+29.8%
RSI 14 · vs SMA200
54.9 · +28.5%
IS score
56.4/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

IQV   SPY   XLV (sector ETF) · weekly closes
80100120Jan 26Apr 26Jul 26Oct 26IQV 130XLV 124SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
45
Profitability
55
Growth
41
Value
82
Momentum
50
Risk (safety)
59
Quality
21
Balance sheet
70
Earnings quality

Flags

Strengths
✓ FCF yield 5%+
Warnings
None of the computed warning flags fires for IQV (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Weak, Efficient ScalePiotroski 7 / 9Altman Z 1.9Beta 1.192 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
9 open-market sales, $29.9M
Form 144 notices (12m): 8, $50.7M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+23
136 new holders, 104 closed
1,090 filers hold 94.6% · 397 added, 430 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+37
1,126 funds adding shares
1,089 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
47.4%
20-day avg 30.1%, 50-day avg 40.0%
Latest 17.3 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$16.3B
Revenue growth YoY+5.9%
Gross margin26.3%
Operating income$2.3B
Operating margin14.0%
Net income$1.4B
Net margin8.3%
EPS (diluted)$7.84
Cash flow
Operating cash flow$2.7B
Capital expenditure$603.0M
Free cash flow$2.1B
FCF conversion (FCF / OCF)77.3%
Stock-based compensation$247.0M
FCF less SBC$1.8B
Buybacks$1.2B
Dividends$0
Balance sheet & returns
Cash & short-term investments$2.1B
Total debt$15.9B
Net debt$13.8B
Shareholders' equity$6.6B
Goodwill & intangibles$21.6B
Debt / equity2.63
ROE (TTM)22.0%
ROIC (TTM)8.3%
Operating margin by fiscal year
10.1%FY202112.6%FY202213.2%FY202314.5%FY202414.0%FY2025
Revenue $13.9B (FY2021) to $16.3B (FY2025), a 4.1% CAGR.

Valuation

P/E (TTM)32.8x
EV / EBITDA16.5x
Price / sales2.59x
Price / FCF16.8x
FCF yield5.95%
Buyback yield2.83%
SBC / revenue1.6%
Price / book7.23x
Forward P/E FY202620.6x
Forward P/E FY202718.6x
Forward P/E FY202816.5x
Forward multiples divide today's price by Street EPS estimates. Street mean target $294.56 across 9 analysts last quarter is theirs, not ours.

IQV vs industry median

126 companies in Medical - Diagnostics & Research
Gross margin 26.2% 48.5% Operating margin 13.6% -9.4% Net margin 8.1% -9.5% ROIC 8.3% -2.5%
IQV (TTM)Industry median Asset turnover 0.57 vs industry 0.54 · financial leverage 4.84

Earnings delivery

Next report 2026-10-27 · consensus EPS $3.25
100%
beat rate, 12 of 12 quarters
+1.3%
median EPS surprise
12
longest beat streak
+1+1+2+3+1+0+3+1+1+1+3+4
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-01 to 2026-07-28. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
IQV IQVIA Holdings Inc. $43.9B32.8x22.0%8.1%+5.9% +29.8%
IDXX IDEXX Laboratories, Inc. $44.1B39.4x74.2%27.8%+12.8% −12.1%
WAT Waters Corporation $42.9B108.7x1.9%-8.3%+52.5% +30.5%
ILMN Illumina, Inc. $39.6B48.5x32.4%17.9%+4.9% +173.7%
A Agilent Technologies, Inc. $48.8B34.0x21.0%19.3%+8.6% +22.6%
NTRA Natera, Inc. $56.7Bn/m-12.5%-8.9%+37.8% —
MTD Mettler-Toledo International $32.5B36.4x-736.4%22.7%+6.9% —
DGX Quest Diagnostics Incorporat $25.9B24.6x14.4%10.5%+9.9% —
12-month window: SPY +15.9%, sector ETF XLV +24.2%. Past returns describe history only.

Recent 8-K filings

2026-09-23Material Agreement; Financial Obligation; Exhibits
2026-09-09Other Events; Exhibits
2026-07-28Earnings Release; Exhibits
2026-06-11Material Agreement; Financial Obligation; Exhibits
2026-06-04Other Events; Exhibits
2026-06-03Other Events; Exhibits

Context

Shares outstanding164,600,000
Free float94.9%
Institutional ownership94.6%
Beta1.19
Dividend yield0.00%
Last dividendNone on file
50 / 200-day average$259.33 / $207.55
Large-cap Healthcare median P/E29.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where IQV sits among 30 scored companies in Medical - Diagnostics & Research (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureIQVIndustry medianIndustry percentileSector median
P/E (TTM) 32.0x 35.5x
35th		 27.6x
PEG (P/E ÷ 3-yr EPS CAGR) 2.76 2.73
62nd		 1.28
Price / sales 2.6x 5.7x
24th		 3.7x
Price / book 7.1x 4.1x
70th		 3.6x
Price / tangible book —
Price / free cash flow 16.8x 34.4x
5th		 21.2x
Price / operating cash flow 15.6x 26.0x
13th		 17.1x
Enterprise value $58.1B $16.3B
93rd		 $2.5B
EV / sales 3.4x 5.9x
31st		 3.8x
EV / EBITDA 16.5x 25.4x
24th		 16.2x
EV / EBIT 24.8x 29.2x
29th		 23.0x
EV / free cash flow 22.2x 35.1x
11th		 24.6x
Earnings yield 3.1% 1.7%
79th		 -0.3%
FCF yield 5.9% 2.5%
97th		 1.7%
Operating cash flow yield 6.4% 3.2%
90th		 2.9%
Graham number (per share) $81.95 $65.89
71st		 $26.70

Profitability (TTM)

MeasureIQVIndustry medianIndustry percentileSector median
Gross margin 26.2% 52.9%
14th		 65.1%
EBITDA margin 20.8% 15.0%
62nd		 6.6%
Operating margin 13.6% 11.0%
62nd		 3.5%
EBIT margin 13.8% 9.1%
62nd		 2.4%
Net margin 8.1% 7.5%
52nd		 0.3%
NOPAT margin 11.4% 9.5%
66th		 2.7%
FCF margin 15.4% 9.2%
59th		 4.3%
Operating cash flow margin 16.6% 15.0%
55th		 7.1%
R&D / revenue 0.0% 7.2%
0th		 12.4%
SG&A / revenue 12.1% 29.8%
10th		 37.9%
Stock comp / revenue 1.6% 1.8%
36th		 4.5%
Effective tax rate 15.7% 20.5%
24th		 21.0%

Returns on capital

MeasureIQVIndustry medianIndustry percentileSector median
ROE (on average equity) 23.0% 4.7%
81st		 0.8%
ROA 4.7% 3.2%
59th		 -0.3%
ROIC 9.6% 5.6%
69th		 5.5%
ROCE 11.1% 4.0%
79th		 2.3%
Return on tangible assets 8.0% 3.5%
69th		 1.7%
Cash ROIC (OCF / invested capital) 13.9% 11.8%
62nd		 9.7%
Gross profitability (GP / assets) 14.9% 22.3%
28th		 29.9%
ROIC, 3-yr average 7.3% 3.7%
79th		 2.6%
ROIC, 5-yr average 7.6% 5.7%
71st		 3.2%
ROE, 5-yr average 21.1% 3.1%
84th		 -4.9%
Incremental ROIC 96.4% -3.0%
81st		 17.2%

Growth

MeasureIQVIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 8.2% 8.1%
54th		 10.5%
Revenue growth (QoQ) 5.2% 8.1%
28th		 7.2%
Revenue CAGR, 3 yr 5.0% 4.9%
52nd		 10.7%
Revenue CAGR, 5 yr 5.6% 7.0%
48th		 12.1%
Gross profit CAGR, 3 yr -4.5% 5.3%
19th		 10.6%
Operating income CAGR, 3 yr 7.7% 6.4%
53rd		 11.7%
Net income growth (TTM YoY) 11.2% 11.8%
44th		 17.5%
Net income CAGR, 3 yr 7.9% 6.7%
67th		 11.3%
EPS growth (TTM YoY) 14.2% 15.1%
44th		 19.2%
EPS CAGR, 3 yr 11.6% 9.3%
83rd		 14.0%
EPS CAGR, 5 yr 21.2% -1.0%
86th		 8.1%
FCF growth (TTM YoY) 30.0% 12.4%
72nd		 18.6%
FCF CAGR, 3 yr 18.2% 7.7%
71st		 15.4%
Operating cash flow CAGR, 3 yr 7.9% 8.0%
47th		 11.9%
Book value CAGR, 3 yr 5.9% 2.6%
64th		 2.1%
Dividend CAGR, 3 yr —
Sustainable growth rate 23.0% 10.3%
69th		 12.2%

Margin history & stability

MeasureIQVIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 31.3% 53.7%
21st		 62.6%
Operating margin, 3-yr average 13.6% 8.7%
64th		 1.0%
Net margin, 3-yr average 8.5% 4.1%
68th		 -2.6%
FCF margin, 3-yr average 13.4% 10.5%
57th		 3.2%
Revenue stability (0-1) 0.98 0.82
93rd		 0.80
Earnings stability (0-1) 0.64 0.46
75th		 0.37
Margin stability (0-1) 0.89 0.93
43rd		 0.93

Liquidity (latest quarter)

MeasureIQVIndustry medianIndustry percentileSector median
Cash & short-term investments $2.1B $520.8M
93rd		 $330.9M
Net cash (− = net debt) −$14.2B −$874.6M
7th		 $8.4M
Working capital −$2.6B $404.8M
0th		 $381.1M
Current ratio 0.71 2.13
0th		 3.02
Quick ratio 0.71 1.77
0th		 2.51
Cash ratio (cash + ST investments / current liabilities) 0.24 0.96
21st		 1.43
Defensive interval (days) 928 days 466 days
86th		 415 days

Leverage & solvency (latest quarter)

MeasureIQVIndustry medianIndustry percentileSector median
Total debt $16.2B $1.7B
93rd		 $289.1M
Debt / equity 2.63 0.50
96th		 0.45
Net debt / equity 2.29 0.30
96th		 −0.13
Debt / assets 54.4% 28.5%
90th		 24.4%
Debt / capital 72.5% 33.6%
93rd		 31.1%
Debt / EBITDA 4.60 3.30
76th		 2.62
Net debt / EBITDA 4.01 2.39
81st		 1.42
Interest coverage (EBIT / interest) 3.0x 2.9x
52nd		 2.1x
Cash interest coverage 3.7x 6.7x
28th		 3.6x
Debt payback (years of OCF) 5.8 yrs 3.8 yrs
78th		 2.7 yrs
Liabilities / assets 78.9% 45.2%
90th		 49.8%
IS credit model rating BB — —
Implied credit spread (bps) 475 175
76th		 225

Efficiency

MeasureIQVIndustry medianIndustry percentileSector median
Asset turnover 0.58 0.56
55th		 0.56
Fixed asset turnover 19.96 4.31
100th		 4.87
Inventory turnover —
Receivables turnover 7.1 6.5
66th		 6.4
Days sales outstanding 52 days 56 days
34th		 57 days
Days inventory outstanding —
Days payables outstanding 102 days 45 days
100th		 59 days
Cash conversion cycle (days) −51 days 67 days
0th		 70 days
Capex / revenue 1.2% 3.4%
7th		 2.6%
Capex / depreciation 0.17 0.69
10th		 0.55
Operating expense ratio 21.3% 45.1%
17th		 56.5%

Cash flow & earnings quality

MeasureIQVIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.05 1.58
82nd		 1.61
FCF / net income 1.90 1.14
82nd		 1.36
FCF / operating cash flow 92.7% 76.8%
91st		 81.2%
Capex / operating cash flow 7.3% 23.2%
9th		 18.8%
Accruals ratio -4.9% -4.3%
41st		 -5.4%
Sloan accruals ratio -8.7% -1.5%
7th		 -1.3%
Earnings quality score (0-1) 1.00 1.00
24th		 0.75

Dividends & buybacks

MeasureIQVIndustry medianIndustry percentileSector median
Dividend yield 0.0% 0.0%
0th		 0.0%
Dividend per share (TTM) $0.00 $0.00
0th		 $0.00
Payout ratio (dividends / net income) 0.0% 0.0%
0th		 0.0%
Dividends / FCF 0.0% 0.0%
0th		 0.0%
Dividend growth (YoY) —
Buyback yield 0.3% 0.9%
41st		 0.0%
Shareholder yield (dividends + buybacks) 0.3% 1.1%
41st		 0.0%
Share count change (YoY) -2.7% -0.7%
25th		 2.0%
Buybacks, last 5 years $4.3B $129.7M
90th		 $0

Scores & forensic checks

MeasureIQVIndustry medianIndustry percentileSector median
IS score 56 50
55th		 46
IS profitability 45 36
59th		 22
IS growth 55 55
46th		 60
IS value 41 40
52nd		 39
IS momentum 82 72
68th		 67
IS risk (safety) 50 80
21st		 80
IS quality 59 62
41st		 49
IS balance sheet 21 51
21st		 55
IS earnings quality 70 69
59th		 56
IS cash flow 71 50
79th		 41
Piotroski F-score (0-9) 7 6
59th		 5
Altman Z-score 1.9 3.4
24th		 3.2
Beneish M-score −2.69 −2.60
25th		 −2.62
Ohlson O-score −6.50 −8.12
69th		 −7.16
IS credit score 44 67
24th		 62

Per share

MeasureIQVIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $8.16 $1.54
79th		 −$0.03
Book value per share $36.60 $17.72
69th		 $7.10
Tangible book per share −$90.02 $0.32
0th		 $1.91
Revenue per share $100.73 $26.05
83rd		 $9.38
FCF per share $15.50 $2.08
83rd		 $0.46
Operating cash flow per share $16.72 $3.59
79th		 $0.93
Cash per share $12.34 $6.18
93rd		 $3.51

Size (TTM)

MeasureIQVIndustry medianIndustry percentileSector median
Market cap $43.9B $13.8B
83rd		 $2.4B
Revenue $17.0B $2.5B
93rd		 $770.2M
EBITDA $3.5B $438.4M
93rd		 $56.1M
Net income $1.4B $139.0M
90th		 −$3.3M
Free cash flow $2.6B $268.0M
93rd		 $41.2M
Total assets $29.9B $3.4B
93rd		 $1.3B
Shareholders' equity $6.2B $1.5B
72nd		 $568.4M
Employees 94,000 6,319
97th		 1,086

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-02Berkshire James G.
See Remarks
 Option exercise 5,381$131.82$709,32313,558
2026-09-02Berkshire James G.
See Remarks
 Open-market sale 2,668$261.33$697,22810,890
2026-09-02Berkshire James G.
See Remarks
 Return to issuer 2,713$261.54$709,5588,177
2026-09-02Berkshire James G.
See Remarks
 Option exercise 5,381$131.82$709,3230
2026-08-03Staub W Richard
See Remarks
 Open-market sale 5,500$232.68$1.3M13,312
2026-07-31Patel Bhavik
See Remarks
 Open-market sale 1,855$235.27$436,4261,348
2026-07-29Sherbet Eric
See Remarks
 Open-market sale 5,000$249.16$1.2M20,999
2026-07-29Cherofsky Keriann
See Remarks
 Open-market sale 558$245.21$136,8272,989
2026-07-29Bousbib Ari
Director, See Remarks
 Option exercise 156,206$78.21$12.2M992,147
2026-07-29Bousbib Ari
Director, See Remarks
 Open-market sale 4,465$247.10$1.1M987,682
2026-07-29Bousbib Ari
Director, See Remarks
 Open-market sale 4,584$246.85$1.1M983,098
2026-07-29Bousbib Ari
Director, See Remarks
 Open-market sale 44,039$246.08$10.8M939,059

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
AprMayJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1614,052—
Open-market saleDisposed9121,860$29.9M
Option exerciseDisposed2161,587$12.9M
Option exerciseAcquired2161,587$12.9M
Return to issuerDisposed352,640$12.9M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 8 notices · 216,313 shares · $50.7M
FiledFilerShares proposedEst. proceeds
2026-08-03Walter Staub5,500$1.3M
2026-07-31Bhavik Patel1,855$436,426
2026-07-29Ari Bousbib106,279$26.1M
2026-07-29Eric Sherbet5,000$1.2M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 13 trades (0 purchases) · Senate 2 (2 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-14Kevin HernHouseSale$15,001 - $50,0002026-09-28
2026-09-14Kevin HernHouseSale$15,001 - $50,0002026-09-25
2026-09-14Kevin HernHouseSale (Full)$15,001 - $50,0002026-09-25
2026-09-08Kevin HernHouseSale$1,001 - $15,0002026-09-28
2025-12-29Markwayne MullinSenatePurchase$15,001 - $50,0002026-01-16
2025-12-29Markwayne MullinSenatePurchase$15,001 - $50,0002026-01-15
2025-10-02John BoozmanSenateSale$1,001 - $15,0002025-11-15
2025-10-02John BoozmanSenateSale (Partial)$1,001 - $15,0002025-11-15
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.14,549,693$2.8B8.84%
VANGUARD CAPITAL MANAGEMENT LLC10,905,053$2.1B6.63%
STATE STREET CORP7,508,244$1.5B4.56%
VANGUARD PORTFOLIO MANAGEMENT LLC7,501,993$1.4B4.56%
JPMORGAN CHASE & CO5,939,700$1.1B3.61%
Artisan Partners Limited Partnership4,743,434$916.5M2.88%
GEODE CAPITAL MANAGEMENT, LLC4,454,134$857.2M2.71%
Boston Partners4,330,969$839.4M2.63%
Invesco Ltd.3,275,141$632.8M1.99%
MORGAN STANLEY2,520,876$487.1M1.53%
NORGES BANK2,264,944$437.6M1.38%
FRANKLIN RESOURCES INC2,105,086$406.7M1.28%
GOLDMAN SACHS GROUP INC1,949,797$376.7M1.18%
DIMENSIONAL FUND ADVISORS LP1,735,452$335.3M1.05%
Longview Partners1,500,760$290.0M0.91%

Institutional ownership by quarter

2023-092026-0694.6%
% of shares held by 13F filers
2023-092026-061,090
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,09094.6%136397430104
2026-03-311,06793.7%121414402177
2025-12-311,13996.2%23140536471
2025-09-301,00494.7%144399344103
2025-06-3097596.8%124428320122
2025-03-3198692.1%112370374104
2024-12-3199691.8%133323427171
2024-09-301,05393.7%11343935561
2024-06-301,01194.1%10143232487
2024-03-311,00994.4%11838435851
2023-12-3195496.3%134277417100
2023-09-3093696.1%10035434369

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-30SCHEDULE 13GVanguard Capital Management7.5%12,714,783
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-08-14SCHEDULE 13G/AHarris Associates, Inc.6.8%11,753,182
2025-05-09SCHEDULE 13G/AGIC Private Ltd3.7%6,541,387
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.06%$1.4B
VTSAX0.06%$1.4B
VSMPX0.06%$1.4B
VTI0.06%$1.4B
VOO0.07%$1.2B
VFINX0.07%$1.2B

Share structure

Shares outstanding164,600,000
Float156,249,842
Free float94.9%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$13.9B$14.4B$15.0B$15.4B$16.3B
Cost of revenue$9.2B$9.4B$9.7B$10.0B$12.0B
Gross profit$4.6B$5.0B$5.2B$5.4B$4.3B
R&D$0$0$0$0$0
SG&A$2.0B$2.1B$2.1B$2.0B$2.0B
Operating income$1.4B$1.8B$2.0B$2.2B$2.3B
EBITDA$2.8B$2.9B$3.3B$3.5B$3.5B
Pretax income$1.1B$1.4B$1.5B$1.7B$1.6B
Income tax$163.0M$260.0M$101.0M$296.0M$252.0M
Net income$966.0M$1.1B$1.4B$1.4B$1.4B
EPS, diluted$4.95$5.72$7.29$7.49$7.84
Diluted shares195.0M190.6M186.3M183.4M173.5M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$1.5B$1.3B$1.5B$1.8B$2.1B
Receivables$2.6B$3.0B$3.4B$3.2B$3.4B
Inventory$0$0$0$0$0
Total current assets$4.8B$5.0B$5.6B$5.8B$6.2B
PP&E, net$903.0M$863.0M$819.0M$773.0M$823.0M
Goodwill & intangibles$18.2B$18.7B$19.4B$19.2B$21.6B
Total assets$24.7B$25.3B$26.7B$26.9B$29.9B
Accounts payable$621.0M$645.0M$709.0M$736.0M$3.8B
Total current liabilities$5.2B$5.6B$6.5B$7.0B$8.3B
Long-term debt$12.0B$12.6B$13.0B$12.8B$14.1B
Total liabilities$18.6B$19.6B$20.6B$20.8B$23.3B
Shareholders' equity$6.0B$5.8B$6.1B$6.1B$6.6B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$966.0M$1.1B$1.4B$1.4B$1.4B
Depreciation & amortization$1.3B$1.1B$1.1B$1.1B$1.1B
Stock-based compensation$170.0M$194.0M$217.0M$206.0M$247.0M
Change in working capital$680.0M−$84.0M−$280.0M$158.0M$125.0M
Operating cash flow$2.9B$2.3B$2.1B$2.7B$2.7B
Capital expenditure−$640.0M−$674.0M−$649.0M−$602.0M−$603.0M
Free cash flow$2.3B$1.6B$1.5B$2.1B$2.1B
Investing cash flow−$2.1B−$2.0B−$1.6B−$1.4B−$2.3B
Net debt issued / repaid$70.0M$941.0M$802.0M$553.0M$1.2B
Buybacks−$406.0M−$1.2B−$992.0M−$1.4B−$1.2B
Dividends paid$0$0$0$0$0

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin33.5%33.1%35.0%33.1%26.3%
Operating margin10.1%12.6%13.2%14.5%14.0%
Net margin7.0%7.6%9.1%8.9%8.3%
FCF margin16.6%11.0%10.0%13.7%15.2%
ROE16.0%18.5%22.9%22.5%21.6%
ROIC7.1%8.4%9.9%10.0%9.4%
ROA3.9%4.4%5.2%5.1%4.8%
Debt / equity2.062.262.272.332.49
Interest coverage4.0x4.3x3.2x3.5x3.2x
Current ratio0.910.890.860.840.75
Revenue growth+22.1%+4.0%+3.9%+2.8%+5.9%
EPS growth+240.0%+16.7%+27.4%+3.1%+4.2%
P/E at year end56.9x35.4x31.4x25.9x28.5x
EV / EBITDA at year end23.9x17.3x16.9x13.8x15.2x
FCF yield at year end4.19%4.10%3.52%5.95%6.40%
Dividend payout0.0%0.0%0.0%0.0%0.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Research And Development Solutions$7.6B$7.9B$8.4B$8.5B$8.9B
Technology And Analytics Solutions$5.5B$5.7B$5.9B$6.2B$6.6B
Contract Sales And Medical Solutions$784.0M$743.0M$727.0M$718.0M$788.0M

Revenue by region · FY2025

Americas$7.7B · 47%
EMEA$5.2B · 32%
Asia Pacific$3.4B · 21%

Street estimates by fiscal year

Next report 2026-10-27 · consensus EPS $3.25 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$17.4B$17.4B – $17.5B$12.94$12.89 – $13.001420.6x
2027$18.4B$18.2B – $19.0B$14.39$13.94 – $15.051418.6x
2028$19.6B$19.2B – $20.7B$16.15$13.78 – $19.11816.5x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-28$3.03$3.15+4.0%$4.3B$4.4B+1.5%
2026-05-05$2.82$2.90+2.8%$4.1B$4.2B+1.2%
2026-02-05$3.40$3.42+0.6%$4.2B$4.4B+2.9%
2025-10-28$2.98$3.00+0.7%$4.1B$4.1B+0.5%
2025-07-22$2.77$2.81+1.4%$4.0B$4.0B+1.2%
2025-05-06$2.63$2.70+2.7%$3.8B$3.8B+1.5%
2025-02-06$3.11$3.12+0.3%$3.9B$4.0B+0.8%
2024-10-31$2.82$2.84+0.7%$3.9B$3.9B+0.8%
2024-07-22$2.56$2.64+3.1%$3.8B$3.8B+0.6%
2024-05-02$2.49$2.54+2.0%$3.7B$3.7B+1.0%
2024-02-14$2.82$2.84+0.7%$3.8B$3.9B+3.0%
2023-11-01$2.46$2.49+1.2%$3.8B$3.7B−1.0%
2023-08-01$2.37$2.43+2.5%$3.7B$3.7B+0.5%
2023-04-27$2.41$2.45+1.7%$3.6B$3.7B+1.0%
2023-02-10$2.75$2.78+1.1%$3.7B$3.7B+0.8%
2022-10-26$2.39$2.48+3.8%$3.5B$3.6B+0.6%
2022-07-21$2.39$2.44+2.1%$3.5B$3.5B+1.3%
2022-04-27$2.43$2.47+1.6%$3.5B$3.6B+0.8%
2022-02-15$2.43$2.55+4.9%$3.6B$3.6B+1.2%
2021-10-21$2.13$2.17+1.9%$3.4B$3.4B+1.2%
2021-07-27$2.07$2.13+2.9%$3.4B$3.4B+2.6%
2021-04-22$1.85$2.18+17.8%$3.2B$3.4B+7.6%
2021-02-10$2.01$2.11+5.0%$3.1B$3.3B+4.9%
2020-10-20$1.51$1.63+7.9%$2.6B$2.8B+5.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.406-150.506-220.406-290.307-060.407-130.407-201.107-270.508-030.308-100.608-170.608-240.608-31
Week ofNotionalSharesTrades
2026-08-31$554.3M2,102,01154,022
2026-08-24$550.4M2,106,00549,491
2026-08-17$586.9M2,347,31765,240
2026-08-10$347.4M1,440,25743,373
2026-08-03$523.4M2,248,15663,999
2026-07-27$1.1B4,486,22192,316

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1547.4%
DateShort shareShort volumeTotal volume
2026-10-1547.4%235,629496,964
2026-10-1433.3%136,760411,032
2026-10-1331.8%204,706642,945
2026-10-1234.5%207,134599,960
2026-10-0940.1%189,906473,362
2026-10-0840.4%175,240433,670
2026-10-0731.8%156,597492,690
2026-10-0635.0%161,922462,704
2026-10-0528.3%177,569628,319
2026-10-0223.8%136,724573,655
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.9Jan-0.2Feb-2.9Mar+1.9Apr+1.3May+3.6Jun+8.5Jul+0.1Aug-2.9Sep-0.3Oct+2.9Nov+1.5Dec
MonthAvg returnUp yearsYears
Jan+0.9%69%13
Feb−0.2%46%13
Mar−2.9%46%13
Apr+1.9%42%12
May+1.3%69%13
Jun+3.6%62%13
Jul+8.5%92%13
Aug+0.1%62%13
Sep−2.9%31%13
Oct−0.3%38%13
Nov+2.9%62%13
Dec+1.5%54%13
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1454.9
MFI63.6
ADX21.5
Stochastic %K / %D64.7 / 52.1
Williams %R-33.4
CCI41
TSI / signal5.5 / 9.3
Chaikin money flow-0.03
ATR$7.38
Bollinger width7.8%
Volume vs 20-day avg0.59x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$265.34 (+0.6%)
SMA 50$260.02 (+2.6%)
SMA 200$207.74 (+28.5%)
EMA 21$263.66 (+1.2%)
EMA 50$254.96 (+4.7%)
EMA 200$219.72 (+21.5%)
Bollinger upper$275.63 (−3.2%)
Bollinger lower$255.06 (+4.6%)
Parabolic SAR$252.94 (+5.5%)
Open the live chart, 110+ indicators

About IQVIA Holdings Inc.

IQVIA Holdings Inc. is a premier global provider of sophisticated analytical insights, advanced technology solutions, and comprehensive clinical research services, catering to the life sciences industry across the Americas, Europe, Africa, and Asia-Pacific. The company's operations are structured into three key divisions: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions. The Technology & Analytics Solutions segment provides a suite of cloud-native applications, complete with implementation services, and offers real-world data solutions designed to empower life sciences and healthcare providers in generating and disseminating evidence crucial for informed decision-making and improving patient outcomes. This division also delivers strategic and operational consulting, including advanced analytics support and outsourcing of commercial processes. Furthermore, it supplies country-level performance metrics detailing pharmaceutical sales, prescribing trends, medical treatments, and promotional activities across diverse channels like retail, hospital, and mail order, with data granularity extending to regional, postal code, and individual prescriber levels. Focusing on clinical trials, the Research & Development Solutions segment offers project management, clinical monitoring, broader clinical trial support, virtual trial capabilities, and strategic planning and design services. It also manages an extensive network of laboratory services, encompassing central, genomic, bioanalytical, ADME, discovery, vaccine, and biomarker analyses. The Contract Sales & Medical Solutions segment is responsible for engaging healthcare professionals and patients, alongside providing scientific strategy and medical affairs support. IQVIA's diverse clientele includes pharmaceutical, biotechnology, medical device and diagnostic, and consumer health companies. The company maintains a strategic collaboration with HealthCore, Inc. Founded in 1982, the firm was formerly known as Quintiles IMS Holdings, Inc. before rebranding as IQVIA Holdings Inc. in November 2017. Its headquarters are located in Durham, North Carolina.

https://www.iqvia.com

Key executives

NameTitlePayBorn
Ari BousbibChief Executive Officer & Chairman$7.2M1961
Michael J. FedockExecutive Vice President & Chief Financial Officer$2.2M1976
W. Richard StaubPresident of Research & Development Solutions$1.8M1963
Alistair GrenfellPresident of Commercial Solutions$1.7M1974
Eric SherbetExecutive Vice President, General Counsel & Secretary$1.5M1964
James G. BerkshireExecutive Vice President of Global Infrastructure & Operations—1974
Keriann CherofskySenior Vice President, Corporate Controller & Chief Accounting Officer—1985
Kerri JosephSenior VP of Investor Relations & Treasurer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Ari Bousbib Chairman and Chief Executive Officer2025$1.8M$15.7M$5.0M$28.1M
Ronald E. Bruehlman Executive Vice President, Chief Financial Officer2025$905,000$6.7M$1.3M$11.4M
Alistair R. Grenfell President, Commercial Solutions2025$629,907$6.0M$806,945$9.7M
W. Richard Staub, III President, Research & Development Solutions2025$800,000$5.2M$943,014$8.8M
Alistair R. Grenfell President, Commercial Solutions Eric M. Sherbet Executive Vice President, General Counsel and Secretary2025$665,000$3.0M$764,301$5.5M

Employees

58k201867k201970k202079k202186k202287k202388k202493k2025

Dividends

Ex-dateAmountPaid
None on file.

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage60
Intangibles25
Switching costs53
Network effect40
Efficient scale68
Our component scores (0-100) and overall 47.7; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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