Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

IQVIA

IQV stock analysis · Health Care · Life Sciences Tools & Services

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$193.22HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$32.2B

Price × SEC outstanding shares. Shares measured 2026-04-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$186.65

Equity cash-flow scenario · SEC outstanding shares at 2026-04-30 · -3.4% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

5.8%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

40.2%

6 industry peers · median 33.2×

How this is calculated ↗
Valuation

Historical multiples

38.5×

7 annual observations · snapshot P/E 23.7× · -38.4% versus history

How this is calculated ↗
Valuation

Free cash flow yield

6.4%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

8.9%

Normalized tax · financing-capital proxy · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

59/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

11.3%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-4.5%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

1.2%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 2.9B2020-12-31: cfo $1,959,000,000.002020-12-31: capex $616,000,000.0020202021-12-31: cfo $2,942,000,000.002021-12-31: capex $640,000,000.0020212022-12-31: cfo $2,260,000,000.002022-12-31: capex $674,000,000.0020222023-12-31: cfo $2,149,000,000.002023-12-31: capex $649,000,000.0020232024-12-31: cfo $2,716,000,000.002024-12-31: capex $602,000,000.0020242025-12-31: cfo $2,654,000,000.002025-12-31: capex $603,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$234.11$255.44$278.37
10.0%$171.55$186.65$202.86
12.0%$135.34$146.86$159.21

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3116.3B1.4B2.7B603M29.9B
2024-12-3115.4B1.4B2.7B602M26.9B
2023-12-3115B1.4B2.1B649M26.7B
2022-12-3114.4B1.1B2.3B674M25.3B
2021-12-3113.9B971M2.9B640M24.7B
2020-12-3111.4B308M2B616M24.6B
2019-12-3111.1B227M1.4B582M23.3B
2018-12-3110.4B284M1.3B459M22.5B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue16.3BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-17
netIncome1.4BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-17
Parent/common earnings proxy1.4BNetIncomeLoss2026-02-17
cfo2.7BNetCashProvidedByUsedInOperatingActivities2026-02-17
capex603MPaymentsToAcquireProductiveAssets2026-02-17
operatingIncome2.2BOperatingIncomeLoss2026-02-17
assets29.9BAssets2026-02-17
equity6.6BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-17
Parent book equity proxy6.5BStockholdersEquity2026-02-17
debt15.7BLongTermDebtCurrent + LongTermDebtNoncurrent2026-02-17
shortDebtNot reported under a supported tag
cash2BCashAndCashEquivalentsAtCarryingValue2026-02-17
shares173.5MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-17
dividendsNot reported under a supported tag
buybacks1.2BPaymentsForRepurchaseOfCommonStock2026-02-17
issuanceNot reported under a supported tag