IQVIA Holdings Inc (IQV)
NYSE:IQV
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IQVIA Holdings
(NYSE:IQV)
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Rating:63Neutral
Price Target:
$171.00
▼(-3.09% Downside)
Action:ReiteratedDate:05/05/26
The score is led by strong earnings-call momentum (raised EPS guidance, record results, solid bookings/backlog) but is capped by financial risk from high leverage and recent margin/free-cash-flow pressure. Technicals also weigh on the score due to a pronounced downtrend, while valuation is moderate based on a mid-range P/E and no dividend yield provided.
Positive Factors
Sustained revenue expansion
Multi-year revenue growth to $16.31B demonstrates scale and diversified demand across CRO, analytics, and commercial outsourcing. The larger revenue base supports durable client relationships, cross-selling, and investment in platforms, making underlying cash flows and contract renewals more resilient over the medium term.
Negative Factors
High leverage
Elevated debt and net leverage reduce financial flexibility and increase sensitivity to interest rates or earnings volatility. Given moderate operating cash flow relative to total debt (~32% in 2025), material deleveraging will require several years of steady FCF, constraining optionality for large M&A or aggressive capital returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue expansion
Multi-year revenue growth to $16.31B demonstrates scale and diversified demand across CRO, analytics, and commercial outsourcing. The larger revenue base supports durable client relationships, cross-selling, and investment in platforms, making underlying cash flows and contract renewals more resilient over the medium term.
Read all positive factors
IQVIA Holdings (IQV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$27.31B
Dividend YieldN/A
Average Volume (3M)1.43M
Price to Earnings (P/E)18.6
Beta (1Y)0.86
Revenue Growth5.84%
EPS Growth4.62%
CountryUS
Employees89,000
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)7.93
Shares Outstanding169,700,000
10 Day Avg. Volume1,471,550
30 Day Avg. Volume1,426,159
Financial Highlights & Ratios
PEG Ratio6.34
Price to Book (P/B)5.96
Price to Sales (P/S)2.38
P/FCF Ratio18.89
Enterprise Value/Market Cap1.10
Enterprise Value/Revenue1.84
Enterprise Value/Gross Profit7.02
Enterprise Value/Ebitda8.68
Forecast
1Y Price Target
$216.75Price Target Upside22.83% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)12.71
Revenue Forecast (FY)$17.24B
IQVIA Holdings Business Overview & Revenue Model
Company Description
IQVIA Holdings Inc. provides advanced analytics, technology solutions, and clinical research services to the life sciences industry in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Technology & Analytics S...
How the Company Makes Money
IQVIA makes money by selling contracted services and technology solutions primarily to life sciences customers, with revenue largely generated from service fees under multi-month or multi-year agreements. Its key revenue streams include: (1) Resea...
IQVIA Holdings Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyIQVIA Holdings Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Positive
The call conveyed broad strength: record revenue, EPS beat, double-digit bookings growth in R&D Solutions, accelerating organic growth in both Commercial and R&D segments, strong free cash flow and share repurchases, meaningful customer wins and rapid AI adoption. Near-term caveats included unusually low pass-throughs that depressed a headline book-to-bill metric, a ~60 bps EBITDA margin contraction driven by FX and mix, and elevated net leverage (3.62x). Management reaffirmed revenue and EBITDA guidance and raised EPS guidance. On balance, the positives materially outweigh the negatives.Positive Updates
Record Q1 Revenue and EPS Beat
Total Q1 revenue of $4.151 billion, up 8.4% year over year (6.0% at constant currency); adjusted diluted EPS of $2.90, up 7.4% year over year, both exceeding the high end of guidance.
Negative Updates
Unusually Low Pass-Through Bookings
Pass-through bookings in Q1 were about one-third below historical averages, driven by the mix of full-service trials booked; this lowered pass-through contribution and suppressed the reported book-to-bill (1.04) despite strong service-fee bookings.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Q1 Revenue and EPS Beat
Total Q1 revenue of $4.151 billion, up 8.4% year over year (6.0% at constant currency); adjusted diluted EPS of $2.90, up 7.4% year over year, both exceeding the high end of guidance.
Read all positive updates
Company Guidance
IQVIA reaffirmed full‑year 2026 revenue guidance of $17.15–$17.35 billion (growth 5.2%–6.4%, 5.8% at the midpoint), assuming roughly 150 basis points from acquisitions and ~100 basis points of FX tailwind, and reiterated adjusted EBITDA guidance of $4.05–$4.25 billion (growth 4.9%–6.3%, 5.6% midpoint), while raising adjusted diluted EPS to $12.65–$12.95 (up 6.1%–8.6%, 7.4% midpoint); for Q2 they guide revenue of $4.28–$4.34 billion (up 6.5%–8%), adjusted EBITDA of $955–$975 million (up 4.9%–7.1%) and adjusted diluted EPS of $2.98–$3.08 (up 6%–9.6%), with all guidance assuming foreign exchange rates as of May 4 persist for the balance of the year.IQVIA Holdings Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
56
Neutral
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 16.31B | 15.40B | 14.98B | 14.41B | 13.87B |
| Gross Profit | 4.29B | 5.38B | 5.24B | 5.03B | 4.64B |
| EBITDA | 3.46B | 3.45B | 3.26B | 2.91B | 2.77B |
| Net Income | 1.36B | 1.37B | 1.36B | 1.09B | 966.00M |
Balance Sheet | |||||
| Total Assets | 29.94B | 26.90B | 26.68B | 25.34B | 24.69B |
| Cash, Cash Equivalents and Short-Term Investments | 2.14B | 1.84B | 1.50B | 1.31B | 1.48B |
| Total Debt | 16.17B | 14.16B | 13.90B | 13.01B | 12.44B |
| Total Liabilities | 23.31B | 20.83B | 20.57B | 19.57B | 18.65B |
| Stockholders Equity | 6.50B | 6.07B | 6.11B | 5.76B | 6.04B |
Cash Flow | |||||
| Free Cash Flow | 2.05B | 2.11B | 1.50B | 1.59B | 2.30B |
| Operating Cash Flow | 2.65B | 2.72B | 2.15B | 2.26B | 2.94B |
| Investing Cash Flow | -2.31B | -1.44B | -1.60B | -2.01B | -2.10B |
| Financing Cash Flow | -150.00M | -878.00M | -382.00M | -329.00M | -1.24B |
IQVIA Holdings Technical Analysis
Positive
176.46
Price Trends
171.29
Positive
200.55
Negative
196.85
Negative
Market Momentum
0.09
Negative
54.66
Neutral
68.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IQV, the sentiment is Positive. The current price of 176.46 is above the 20-day moving average (MA) of 170.22, above the 50-day MA of 171.29, and below the 200-day MA of 196.85, indicating a neutral trend. The MACD of 0.09 indicates Negative momentum. The RSI at 54.66 is Neutral, neither overbought nor oversold. The STOCH value of 68.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IQV.
IQVIA Holdings Risk Analysis
IQVIA Holdings disclosed 51 risk factors in its most recent earnings report. IQVIA Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
IQVIA Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $8.55B | 1,437.41 | 6.32% | ― | -2.46% | -17.89% | |
70 Outperform | $21.20B | 21.39 | 13.88% | 1.80% | 11.03% | 14.34% | |
70 Outperform | $11.91B | 27.57 | 120.89% | ― | 24.19% | 20.19% | |
69 Neutral | $123.18B | 31.22 | 7.06% | 0.53% | 4.02% | 0.05% | |
67 Neutral | $171.91B | 26.66 | 13.26% | 0.30% | 5.36% | 6.54% | |
63 Neutral | $27.31B | 18.64 | 22.28% | ― | 5.84% | 4.62% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
IQV
IQVIA Holdings
160.94
14.74
10.08%
DHR
Danaher
174.04
-14.71
-7.79%
ICLR
Icon
111.97
-23.13
-17.12%
DGX
Quest Diagnostics
191.50
18.51
10.70%
TMO
Thermo Fisher
462.60
57.07
14.07%
MEDP
Medpace Holdings
417.02
128.25
44.41%
IQVIA Holdings Corporate Events
Business Operations and StrategyShareholder Meetings
IQVIA Shareholders Approve New 2026 Incentive Plan
Positive
Apr 23, 2026
On April 23, 2026, IQVIA Holdings Inc. stockholders approved a new 2026 Incentive and Stock Award Plan at the company’s annual meeting, replacing the 2017 plan and authorizing a broad mix of performance- and time-based equity awards, includi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.