Upside case
Bull case
$283+60.3%
IQV would need investors to value it at roughly 22x earnings — about 8x more generous than today's 14x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
IQVIA Holdings Inc. (IQV) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
44
analysts
37 bullish · 1 bearish · 44 covering IQV
Strong Buy
1
Buy
36
Hold
6
Sell
1
Strong Sell
0
Consensus Target
$226
+27.9% vs today
Scenario Range
$103 – $283
Model bear to bull value window
Coverage
44
Published analyst ratings
Valuation Context
13.9x
Forward P/E · Market cap $29.9B
IQV price targets
Three scenarios for where IQV stock could go
Current
~$176
Confidence
65 / 100
Updated
May 1, 2026
Where we are now
Current · $176
Bear
$103
Base
$265
Bull
$283
Market caseClosest to today
Base case
$265+50.0%
At 21x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$103-41.6%
If investor confidence fades or macro conditions deteriorate, a 6x multiple contraction could push IQV down roughly 42% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
IQVIA Holdings Inc.
IQV · NYSEHealthcareMedical - Diagnostics & ResearchDecember year-end
IQVIA is a global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. It generates revenue through three main segments: Technology & Analytics Solutions (~40% of revenue), Research & Development Solutions (~50%), and Contract Sales & Medical Solutions (~10%). The company's competitive advantage lies in its massive proprietary healthcare data sets—including prescription, claims, and clinical data—combined with sophisticated analytics capabilities that create high switching costs for pharmaceutical and biotech clients.
Market Cap
$29.9B
Revenue TTM
$16.6B
Net Income TTM
$1.4B
Net Margin
8.3%
IQV Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
92%Exceptional
vs consensus estimates
Avg EPS Surprise
+1.5%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$2.81/$2.77
Revenue
$4.0B/$4.0B
Q4 2025
EPS
$3.00/$2.98
Revenue
$4.1B/$4.1B
Q1 2026
EPS
$3.42/$3.40
Revenue
$4.4B/$4.2B
Q2 2026
EPS
$2.90/$2.83
Revenue
$4.2B/$4.1B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $2.81/$2.77 | +1.4% | $4.0B/$4.0B | +1.2% |
| Q4 2025 | $3.00/$2.98 | +0.7% | $4.1B/$4.1B | +0.5% |
| Q1 2026 | $3.42/$3.40 | +0.6% | $4.4B/$4.2B | +2.9% |
| Q2 2026 | $2.90/$2.83 | +2.5% | $4.2B/$4.1B | +1.2% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$17.4B
+4.7% YoY
FY2
$18.5B
+5.9% YoY
EPS Outlook
FY1
$10.84
+32.9% YoY
FY2
$11.76
+8.5% YoY
Trailing FCF (TTM)$2.7B
FCF Margin: 16.1%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
IQV beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
IQV Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $16.3B
Product Mix
Latest annual revenue by segment or product family
Research And Development Solutions
54.5%
+4.3% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Americas
47.5%
+5.3% YoY
Tap, hover, or focus a slice to inspect segment detail.
Research And Development Solutions is the largest disclosed segment at 54.5% of FY 2025 revenue, up 4.3% YoY.
Americas is the largest reported region at 47.5%, up 5.3% YoY.
IQV Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $261 — implies +65.2% from today's price.
Upside to Fair Value
65.2%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
IQV
22.5x
vs
S&P 500
25.2x
11% discount
vs Healthcare Trailing P/E
IQV
22.5x
vs
Healthcare
22.1x
In line with benchmark
vs IQV 5Y Avg P/E
Today
22.5x
vs
5Y Average
35.9x
37% discount
Forward PE
13.9x
S&P 500
19.1x
-27%
Healthcare
19.0x
-27%
5Y Avg
—
—
Trailing PE
22.5x
S&P 500
25.2x
-11%
Healthcare
22.1x
+2%
5Y Avg
35.9x
-37%
PEG Ratio
0.56x
S&P 500
1.75x
-68%
Healthcare
1.52x
-64%
5Y Avg
—
—
EV/EBITDA
12.9x
S&P 500
15.3x
-16%
Healthcare
14.1x
-9%
5Y Avg
18.1x
-29%
Price/FCF
14.6x
S&P 500
21.3x
-32%
Healthcare
18.7x
-22%
5Y Avg
22.7x
-36%
Price/Sales
1.8x
S&P 500
3.1x
-41%
Healthcare
2.8x
-36%
5Y Avg
2.9x
-36%
Dividend Yield
—
S&P 500
1.88%
—
Healthcare
1.40%
—
5Y Avg
—
—
| Metric | IQV | S&P 500 | Healthcare | 5Y Avg IQV |
|---|---|---|---|---|
| Forward PE | 13.9x | 19.1x-27% | 19.0x-27% | — |
| Trailing PE | 22.5x | 25.2x-11% | 22.1x | 35.9x-37% |
| PEG Ratio | 0.56x | 1.75x-68% | 1.52x-64% | — |
| EV/EBITDA | 12.9x | 15.3x-16% | 14.1x | 18.1x-29% |
| Price/FCF | 14.6x | 21.3x-32% | 18.7x-22% | 22.7x-36% |
| Price/Sales | 1.8x | 3.1x-41% | 2.8x-36% | 2.9x-36% |
| Dividend Yield | — | 1.88% | 1.40% | — |
IQV trades above S&P 500 benchmarks on 0 of 6 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolIQV Financial Health
Verdict
Strong
IQV generates $2.7B in free cash flow at a 16.1% margin — returns 4.2% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$16.6B
Revenue Growth
TTM vs prior year
+7.3%
Gross Margin
Gross profit as a share of revenue
26.1%
Operating Margin
Operating income divided by revenue
13.9%
Net Margin
Net income divided by revenue
8.3%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$8.16
Free Cash Flow (TTM)
Cash generation after capex
$2.7B
FCF Margin
FCF as share of revenue — the primary cash quality signal
16.1%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
8.7%
ROA
Return on assets, trailing twelve months
4.7%
Cash & Equivalents
Liquid assets on the balance sheet
$2.0B
Net Debt
Total debt minus cash
$14.2B
Debt Serviceability
Net debt as a multiple of annual free cash flow
5.3× FCF
~5.3 years to full repayment at current FCF run-rate
ROE *
Return on equity, trailing twelve months
22.1%
* Elevated by buyback-compressed equity — compare ROIC (8.7%) for an undistorted picture of capital efficiency.
Shareholder Returns
How capital is returned to owners
Total shareholder yield
4.2%
Dividend
—
Buyback
4.2%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$1.2B
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
170M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt). ROE marked * where buyback-compressed equity base may inflate the figure.
Open full ratios pageIQV Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
High Debt & Leverage
IQVIA’s total debt is $15.2 billion against $1.8 billion in cash, resulting in a net debt‑to‑EBITDA ratio of 4.9x. This high leverage amplifies financial risk and limits the company’s flexibility to invest or weather downturns.
High Risk
Probability of Bankruptcy
Analysts estimate an 18.7% chance that IQVIA will face financial distress within the next 24 months, underscoring significant solvency concerns.
High Risk
Goodwill Impairment Risk
The company reports $15.9 billion of goodwill, exceeding total equity, exposing it to potential impairment charges that could materially reduce book value.
Medium
Weak Liquidity
IQVIA’s current ratio fell to 0.75 by the end of 2025, indicating current liabilities outstrip current assets and raising short‑term funding pressure.
Medium
AI Disruption Concerns
Investor worry over generative AI in the CRO sector has compressed valuation multiples, suggesting that AI could erode IQVIA’s core service demand.
Medium
Dependence on Biopharma R&D Spending
If biopharma firms cut R&D or outsource fewer trials, IQVIA’s R&D Solutions revenue could decline materially, directly impacting earnings.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why IQV Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
Robust Financial Performance
IQVIA reported a revenue increase of over 10% year‑over‑year, reaching $16.31 billion in 2025—a 5.87% rise from the prior year. In the fourth quarter of 2025, revenue grew 10.3% on a reported basis, while earnings per share increased 7.1% year‑over‑year for the full year.
Strategic AI Integration
The launch of IQVIA.ai in partnership with NVIDIA positions the company at the forefront of AI‑driven clinical development and commercialization. Goldman Sachs views IQVIA as a long‑term AI player, leveraging its global contract research organization to accelerate drug‑market entry.
Growth in Key Segments
Year‑over‑year growth is evident in Flexible Solutions Provisioning, Real World Evidence, and Clinical Solutions Management Services, with the Technology & Analytics Solutions segment also showing strong reported growth in Q4 2025.
Focus on Growth
IQVIA operates as a growth stock, reinvesting profits rather than paying dividends. The company projects a long‑term EPS growth rate of 13%.
Positive Analyst Sentiment
A majority of Wall Street analysts maintain “Buy” or “Strong Buy” ratings, and the average 12‑month price target implies an upside of over 35% from current levels. Recent upgrades from Barclays, RBC, and TD Cowen further reinforce the bullish outlook.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
IQV Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$176.47
52W Range Position
37%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$134.65
+31.1% from the low
52-Week High
$247.05
-28.6% from the high
1 Month
+3.37%
3 Month
-5.88%
YTD
-21.7%
1 Year
+20.7%
3Y CAGR
-2.4%
5Y CAGR
-5.3%
10Y CAGR
+10.3%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
IQV vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
13.9x
vs 18.9x median
-26% below peer median
Revenue Growth
+4.7%
vs +5.9% median
-19% below peer median
Net Margin
8.3%
vs 7.4% median
+13% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
IQV IQV IQVIA Holdings Inc. | $29.9B | 13.9x | +4.7% | 8.3% | Buy | +27.9% |
CRL CRL Charles River Laboratories International, Inc. | $9.0B | 16.4x | +0.2% | -3.6% | Buy | +13.0% |
ICL ICLR ICON Public Limited Company | $9.5B | 10.5x | +5.9% | 7.4% | Buy | +20.5% |
PRA PRA ProAssurance Corporation | $1.3B | 21.8x | -3.5% | 6.0% | Hold | -25.5% |
MED MEDP Medpace Holdings, Inc. | $12.2B | 25.1x | +15.4% | 17.2% | Hold | +16.9% |
VEE VEEV Veeva Systems Inc. | $27.2B | 18.9x | +14.0% | 28.4% | Buy | +67.4% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
IQV Dividend and Capital Return
IQV returns 4.2% annually — null% through dividends and 4.2% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
4.2%
Dividend + buyback return per year
Buyback Yield
4.2%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
2Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$1.2B
Estimated Shares Retired
7M
Approx. Share Reduction
4.2%
Shares Outstanding
Current diluted share count from the screening snapshot
170M
At 4.2%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
FAQ
7 questionsIQV Investor Questions
Common questions answered from live analyst data and company financials.
01Is IQVIA Holdings Inc. (IQV) stock a buy or sell in 2026?
IQVIA Holdings Inc. (IQV) is rated Buy by Wall Street analysts as of 2026. Of 44 analysts covering the stock, 37 rate it Buy or Strong Buy, 6 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $226, implying +27.9% from the current price of $176. The bear case scenario is $103 and the bull case is $283.
02What is the IQV stock price target for 2026?
The Wall Street consensus price target for IQV is $226 based on 44 analyst estimates. The high-end target is $250 (+41.7% from today), and the low-end target is $185 (+4.8%). The base case model target is $265.
03Is IQVIA Holdings Inc. (IQV) stock overvalued in 2026?
IQV trades at 13.9x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals significantly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for IQVIA Holdings Inc. (IQV) stock in 2026?
The primary risks for IQV in 2026 are: (1) High Debt & Leverage — IQVIA’s total debt is $15. (2) Probability of Bankruptcy — Analysts estimate an 18. (3) Goodwill Impairment Risk — The company reports $15. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is IQVIA Holdings Inc.'s revenue and earnings forecast?
Analyst consensus estimates IQV will report consensus revenue of $17.4B (+4.7% year-over-year) and EPS of $10.84 (+32.9% year-over-year) for the upcoming fiscal year. The following year, analysts project $18.5B in revenue.
06When does IQVIA Holdings Inc. (IQV) report its next earnings?
A confirmed upcoming earnings date for IQV is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does IQVIA Holdings Inc. generate?
IQVIA Holdings Inc. (IQV) generated $2.7B in free cash flow over the trailing twelve months — a free cash flow margin of 16.1%. IQV returns capital to shareholders through and share repurchases ($1.2B TTM).