IQVIA Holdings Inc. (IQV) Financial Ratios
15 years of historical data (2011–2025) · Healthcare · Medical - Diagnostics & Research
EV/EBITDA
↓
12.44
↓-31% vs avg
5yr avg: 18.07
30Y Low12.6·High24.9
P/FCF
↓
13.88
↓-39% vs avg
5yr avg: 22.68
30Y Low16.6·High36.9
P/B Ratio
↓
4.39
↓-37% vs avg
5yr avg: 6.95
30Y Low1.3·High9.1
ROE
↑
21.4%
↓+6% vs avg
5yr avg: 20.2%
30Y Low3%·High23%
Debt/EBITDA
↑
4.71
+4% vs avg
5yr avg: 4.52
30Y Low3.2·High7.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
IQV Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
IQVIA Holdings Inc. trades at 21.4x earnings, 40% below its 5-year average of 35.9x, sitting at the 8th percentile of its historical range. This is roughly in line with the Healthcare sector median P/E of 22.1x. On a free-cash-flow basis, the stock trades at 13.9x P/FCF, 39% below the 5-year average of 22.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $28.5B | $39.1B | $36.0B | $43.1B | $39.1B | $55.0B | $34.9B | $30.8B | $24.2B | $21.8B | $11.6B |
| Enterprise Value | $42.7B | $53.3B | $48.5B | $55.6B | $50.8B | $66.1B | $46.0B | $42.0B | $34.3B | $31.1B | $17.6B |
| P/E Ratio → | 21.40 | 28.75 | 26.24 | 31.74 | 35.82 | 57.00 | 125.29 | 160.95 | 93.69 | 16.65 | 100.07 |
| P/S Ratio | 1.75 | 2.40 | 2.34 | 2.88 | 2.71 | 3.97 | 3.08 | 2.78 | 2.32 | 2.25 | 1.70 |
| P/B Ratio | 4.39 | 5.90 | 5.94 | 7.05 | 6.77 | 9.11 | 5.56 | 4.92 | 3.48 | 2.61 | 1.30 |
| P/FCF | 13.88 | 19.07 | 17.05 | 28.74 | 24.62 | 23.90 | 26.02 | 36.93 | 30.42 | 36.26 | 16.61 |
| P/OCF | 10.73 | 14.74 | 13.27 | 20.06 | 17.28 | 18.70 | 17.83 | 21.76 | 19.29 | 22.47 | 13.44 |
P/E links to full P/E history page with 30-year chart
IQV EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
IQVIA Holdings Inc.'s enterprise value stands at 12.4x EBITDA, 31% below its 5-year average of 18.1x. The Healthcare sector median is 14.2x, placing the stock at a 13% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.27 | 3.15 | 3.71 | 3.53 | 4.76 | 4.05 | 3.79 | 3.29 | 3.20 | 2.58 |
| EV / EBITDA | 12.44 | 15.54 | 14.62 | 17.93 | 17.36 | 24.87 | 22.81 | 21.25 | 18.23 | 17.95 | 18.86 |
| EV / EBIT | 18.66 | 22.98 | 20.73 | 26.10 | 28.58 | 43.97 | 58.34 | 52.62 | 46.23 | 48.53 | 31.36 |
| EV / FCF | — | 25.99 | 22.94 | 37.08 | 32.06 | 28.71 | 34.27 | 50.35 | 43.15 | 51.68 | 25.23 |
IQV Profitability
Margins and return-on-capital ratios measuring operating efficiency
IQVIA Holdings Inc. earns an operating margin of 14.0%. ROE of 21.4% indicates solid capital efficiency. ROIC of 8.7% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.3% | 26.3% | 34.9% | 35.0% | 34.9% | 33.5% | 34.0% | 34.2% | 35.2% | 35.1% | 30.3% |
| Operating Margin | 14.0% | 14.0% | 14.3% | 13.2% | 12.5% | 10.0% | 6.4% | 7.0% | 7.1% | 7.4% | 9.4% |
| Net Profit Margin | 8.3% | 8.3% | 8.9% | 9.1% | 7.6% | 7.0% | 2.5% | 1.7% | 2.5% | 13.5% | 1.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.4% | 21.4% | 22.5% | 22.9% | 18.5% | 15.7% | 4.4% | 2.9% | 3.4% | 15.2% | 2.6% |
| ROA | 4.8% | 4.8% | 5.1% | 5.2% | 4.4% | 3.9% | 1.2% | 0.8% | 1.1% | 6.0% | 0.9% |
| ROIC | 8.7% | 8.7% | 8.9% | 8.2% | 7.8% | 6.1% | 3.1% | 3.4% | 3.2% | 3.3% | 5.9% |
| ROCE | 11.0% | 11.0% | 11.0% | 9.9% | 9.2% | 7.1% | 3.7% | 4.1% | 3.8% | 3.8% | 6.2% |
IQV Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
IQVIA Holdings Inc. carries a Debt/EBITDA ratio of 4.7x, which is highly leveraged (47% above the sector average of 3.2x). Net debt stands at $14.2B ($16.2B total debt minus $2.0B cash). Interest coverage of 3.2x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.44 | 2.44 | 2.33 | 2.27 | 2.26 | 2.06 | 2.05 | 1.92 | 1.58 | 1.22 | 0.81 |
| Debt / EBITDA | 4.71 | 4.71 | 4.27 | 4.48 | 4.44 | 4.68 | 6.39 | 6.08 | 5.85 | 5.91 | 7.73 |
| Net Debt / Equity | — | 2.14 | 2.05 | 2.05 | 2.05 | 1.83 | 1.77 | 1.79 | 1.45 | 1.11 | 0.68 |
| Net Debt / EBITDA | 4.14 | 4.14 | 3.76 | 4.04 | 4.03 | 4.17 | 5.50 | 5.66 | 5.38 | 5.36 | 6.45 |
| Debt / FCF | — | 6.92 | 5.89 | 8.35 | 7.44 | 4.81 | 8.26 | 13.42 | 12.72 | 15.42 | 8.62 |
| Interest Coverage | 3.18 | 3.18 | 3.49 | 3.17 | 4.28 | 4.01 | 1.90 | 1.79 | 1.79 | 1.85 | 3.89 |
IQV Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.75x is below 1.0, meaning current liabilities exceed current assets — though the company's $2.0B cash position helps mitigate short-term liquidity concerns. The current ratio has declined from 0.86x to 0.75x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.75 | 0.75 | 0.84 | 0.86 | 0.89 | 0.91 | 1.12 | 1.05 | 1.10 | 1.22 | 1.23 |
| Quick Ratio | 0.75 | 0.75 | 0.84 | 0.86 | 0.89 | 0.91 | 1.12 | 1.05 | 1.10 | 1.22 | 1.23 |
| Cash Ratio | 0.26 | 0.26 | 0.26 | 0.23 | 0.23 | 0.28 | 0.42 | 0.23 | 0.27 | 0.35 | 0.46 |
| Asset Turnover | — | 0.54 | 0.57 | 0.56 | 0.57 | 0.56 | 0.46 | 0.48 | 0.46 | 0.43 | 0.32 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 76.69 | 76.77 | 83.14 | 74.98 | 68.64 | 79.24 | 86.84 | 86.34 | 80.66 | 93.25 |
IQV Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
IQVIA Holdings Inc. returns 4.4% to shareholders annually primarily through share buybacks. The earnings yield of 4.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 3.5% | 3.8% | 3.2% | 2.8% | 1.8% | 0.8% | 0.6% | 1.1% | 6.0% | 1.0% |
| FCF Yield | 7.2% | 5.2% | 5.9% | 3.5% | 4.1% | 4.2% | 3.8% | 2.7% | 3.3% | 2.8% | 6.0% |
| Buyback Yield | 4.4% | 3.2% | 3.7% | 2.3% | 3.0% | 0.7% | 1.3% | 3.1% | 5.8% | 12.0% | 9.5% |
| Total Shareholder Yield | 4.4% | 3.2% | 3.7% | 2.3% | 3.0% | 0.7% | 1.3% | 3.1% | 5.8% | 12.0% | 9.5% |
| Shares Outstanding | — | $174M | $183M | $186M | $191M | $195M | $195M | $200M | $208M | $223M | $152M |
Peer Comparison
Compare IQV with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 IQVYou | $28B | 21.4 | 12.4 | 13.9 | 26.3% | 14.0% | 21.4% | 8.7% | 4.7 |
 CRL | $9B | -63.6 | 12.9 | 17.2 | 30.5% | 12.6% | -4.3% | 6.3% | 3.4 |
 ICLR | $11B | 50.3 | 10.1 | 13.0 | 26.4% | 12.3% | 2.5% | 6.2% | 2.5 |
 PRA | $1B | 24.9 | 19.5 | — | 39.4% | 6.6% | 4.0% | 3.2% | 5.1 |
 MEDP | $13B | 30.1 | 22.9 | 19.3 | 30.1% | 21.1% | 70.2% | 154.9% | 0.4 |
 VEEV | $25B | 28.2 | 19.7 | 18.0 | 75.5% | 28.7% | 13.9% | 12.9% | 0.1 |
 INCY | $20B | 15.3 | 11.6 | 14.5 | 91.5% | 26.1% | 29.9% | 51.1% | 0.0 |
 EXAS | $20B | -95.4 | — | 56.1 | 69.7% | -6.4% | -8.7% | -3.6% | — |
 HCAT | $129M | -0.7 | 17.3 | — | 33.5% | -11.6% | -58.3% | -6.1% | 11.9 |
 UNH | $364B | 30.3 | 17.9 | 22.6 | 18.5% | 4.2% | 11.8% | 9.2% | 3.4 |
 CVS | $125B | 70.7 | 14.0 | 16.1 | 13.8% | 2.6% | 2.3% | 5.0% | 6.2 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 15 years · Updated daily
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IQV — Frequently Asked Questions
Quick answers to the most common questions about buying IQV stock.
What is IQVIA Holdings Inc.'s P/E ratio?
IQVIA Holdings Inc.'s current P/E ratio is 21.4x. The historical average is 57.4x. This places it at the 8th percentile of its historical range.
What is IQVIA Holdings Inc.'s EV/EBITDA?
IQVIA Holdings Inc.'s current EV/EBITDA is 12.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.5x.
What is IQVIA Holdings Inc.'s ROE?
IQVIA Holdings Inc.'s return on equity (ROE) is 21.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 13.0%.
Is IQV stock overvalued?
Based on historical data, IQVIA Holdings Inc. is trading at a P/E of 21.4x. This is at the 8th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are IQVIA Holdings Inc.'s profit margins?
IQVIA Holdings Inc. has 26.3% gross margin and 14.0% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does IQVIA Holdings Inc. have?
IQVIA Holdings Inc.'s Debt/EBITDA ratio is 4.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.