IQVIA Holdings

IQV

Medical - Diagnostics & Research · Healthcare

Also trades as: 0JDM.L

Price

$241.71

-2.13 (-0.87%)

Market Cap

$39.79B

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 13, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Exceptional

Stability

Mixed

Valuation

Strong

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Share count falling — buybacks

−11.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 195.0M (2021) → 173.5M (2025)

Winston Score History

The full picture

IQVIA Holdings helps drug companies run clinical trials and understand healthcare data. It provides technology, analytics, and research services that pharmaceutical and biotech companies use to develop and test new medicines. IQVIA is one of the largest contract research organizations in the world, formed from the 2016 merger of IMS Health and Quintiles.

The company earns revenue through long-term service contracts, data subscriptions, and technology platform fees paid mostly by large pharmaceutical clients. It operates in over 100 countries, with significant revenue coming from North America and Europe, and employs roughly 85,000 people. IQVIA's main competitive advantage is its proprietary database of anonymized patient and prescription data, which is difficult for rivals to replicate. The key risk is that if pharmaceutical companies cut research and development spending during economic downturns, demand for IQVIA's clinical trial and data services tends to fall alongside it.

Politician Trades

19 trades / 12mo

5 Congressional buys and 14 sells on IQV in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+8.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-0.6% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (18%)

Research and development spending

Insider Activity

5.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$2.6B cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

IQVIA Holdings is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

32.9%

Modest — 32.9% gross margin

Operating Margin

11.6%

Modest — 11.6% operating margin

ROCE

2.3%

Weak — 2.3% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+8.2%

Steady sales growth (+8.2% YoY)

EPS YoY

+16.5%

Earnings growing fast (+16.5% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

209%

Turns 209% of profit into real cash

FCF Margin

12.7%

Converts sales into free cash efficiently (12.7%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

2.59

Heavy debt load (2.59)

Interest Cover

2.99x

Tight — interest eats into profit (3.0x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

29.7x

Growth-priced — P/E 29.7

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+15.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (29.7 → 14.8)

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Dividends

Not applicable for this business.

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