Iqvia Holdings Inc.

Health Care
Biotechnology: Commercial Physical & Biological Resarch
www.iqvia.com

Earnings Score
Moat Score
Safety Score

Market Cap $36.80B
PE 26
Debt $14.80B
Cash $1.57B
EV $50.02B
FCF $1.96B

Earnings

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Sales & Net Margins

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Earnings	$1.41B
EBIT	$2.18B
ROE	20%
ROA	8%
FCF	$1.96B
Equity	$6.97B
Growth Stability	34%
PE	26.19
PEG	0.42
PB	5.28
P/FCF	18.76
P/S	2.4
Price/Cash	0.04
Debt/Equity	2.12
Debt/FCF	7.55
Net Margins	8%
Gross Margins	35%
Op. Margins	14%
Earnings CAGR	24%
Sales Growth YoY	4%
Sales Growth QoQ	2%
Sales CAGR	11%
FCF CAGR	19%
Equity CAGR	-4%
Earnings Stability	0.34
Earnings Growth YoY	-6%
Earnings Growth QoQ	-21%

Earnings CAGR 5Y	63%
Sales CAGR 5Y	8%
FCF CAGR 5Y	10%
Equity CAGR 5Y	1%
Earnings CAGR 3Y	4%
Sales CAGR 3Y	4%
FCF CAGR 3Y	-5%
Equity CAGR 3Y	7%
Market Cap	$36.80B
Revenue	$15.32B
Assets	$27.18B
Total Debt	$14.80B
Cash	$1.57B
Shares Outstanding	181.6M
EV	50.02B
Earnings Score	27%
Moat Score	90%
Safety Score	46%
Final Score	54%
Working Capital	-1.36B
Current Ratio	0.81
Gross Profit	$5.33B
Shares Growth 3y	-2%
Equity Growth QoQ	4%
Equity Growth YoY	20%

Assets & ROA

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Stockholders Equity & ROE

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IQVIA Holdings Inc is the result of the 2016 merger of Quintiles, a leading global contract research organization, and IMS Health, a leading healthcare data and analytics provider. The Research & Development segment focuses primarily on providing outsourced late-stage clinical trials for pharmaceutical, device, and diagnostic firms. The Technology & Analytics segment provides aggregated information and technology services to clients in the healthcare industry, including pharmaceutical companies, providers, payers, and policymakers, as well as data and analytics capabilities for clinical trials, including virtual trials. The company also has a small contract sales business.

SEC Filings

Direct access to Iqvia Holdings Inc. (IQV) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Iqvia Holdings Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Iqvia Holdings Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 24%

Stability 34%

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Iqvia Holdings Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Iqvia Holdings Inc..

Years

Calculation mode

= $72B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$2B	$2.3B	$2.8B	$3.3B	$3.9B	$4.6B	$5.4B	$6.5B	$7.7B	$9.1B	$11B	$108B
DCF		$2.1B	$2.3B	$2.5B	$2.6B	$2.9B	$3.1B	$3.3B	$3.6B	$3.8B	$4.1B	$41B
Value	$72B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	7%	7%	2%	13%	2%	2%	2%	7%	8%	9%	8%
ROA	-	16%	3%	3%	3%	3%	3%	6%	7%	8%	8%
ROE	-	-115%	1%	16%	4%	3%	4%	16%	19%	22%	20%

Net Margins (8.18%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	6.42	10.5	17.26	14.03	14.14	9.49	5.33	8.16	9.65	7.55
Debt over Equity	-3.28	-7.59	0.83	1.24	1.6	1.88	2.03	2.03	2.25	2.37	2.12
Growth Stability	-	-	-	100%	43%	34%	48%	100%	100%	100%	34%

Bad Debt/FCF ratio (7.55)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Bad Debt/Equity ratio (2.12)

The company is overleveraged and has a bad balance between equity and debt.

Bad Graham’s Stability (34%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	5%	20%	42%	7%	6%	2%	22%	4%	4%	8%
Earnings YoY growth	-	9%	-70%	1K%	-80%	-26%	46%	246%	13%	24%	63%
Equity YoY growth	-	-52%	-3K%	-6%	-17%	-10%	0%	-4%	-5%	6%	1%
FCF YoY growth	-	14%	75%	-14%	32%	5%	61%	71%	-31%	-5%	10%