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Iqvia Holdings

IQV on NYSE. IQVIA sells clinical research and healthcare data services to drug and medical companies. Market value $43.8bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Good business, but not cheap right now

Why it could be worth it

What to watch out for

See cheaper Health care stocks on the list

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
5.1%fair

For every $100 of what the whole company costs, it produced $5.10 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
25.9×full

You pay 25.9 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
8.4%five-year median

Each dollar kept in the business earns 8 cents a year. Above 10 is good.

Quality score: 74 of 100. Price score: 53 of 100. Our list needs 70 on quality and 60 on price.

$259.98 a share, 68% above its 1-year low

Over the past year the price has ranged from $154.50 to $277.40.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

2.3
1.6
1.5
2.1
2.1
2.2
2021202220232024202512 monthsto Jun '26
Revenue
$13.9bn$14.4bn$15.0bn$15.4bn$16.3bn
Operating margin
10.0%12.5%13.2%14.3%13.4%
Debt to equity
2.042.252.272.342.45
Shares outstanding
0.19bn0.18bn0.18bn0.17bn0.17bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)5 of 9
  • Profit backed by cash (accruals)Yes
  • Debt2.45× equity
  • Revenue growth, five yearsSlow, 7.5% a year
  • Buying back its own sharesYes, 10% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $4.4 billion last quarter, up 9% on a year ago.
  • Profit: $256 million, down 4% on a year ago.
  • It keeps 13 cents of each $1 of sales as operating profit, down from 14 cents a year earlier.
  • Spare cash over the past 12 months: $2.2 billion, up from $2 billion.
  • 3% fewer shares than a year ago. Each share owns a bit more of the company.
  • Debt is $14.1 billion more than cash, up from $13.5 billion a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$3.9bn
December 2024$4.0bn
March 2025$3.8bn
June 2025$4.0bn
September 2025$4.1bn
December 2025$4.4bn
March 2026$4.2bn
June 2026$4.4bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$285m
December 2024$437m
March 2025$249m
June 2025$266m
September 2025$331m
December 2025$514m
March 2026$274m
June 2026$256m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
27 October 2026
Last annual report (10-K)
17 February 2026
Next quarterly (estimated, 10-Q)
27 October 2026

Who owns it

15 long-term investors we follow own it, up from 13 last quarter. 1,087 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

2 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 6 sold $51m.

  • Berkshire James G.
    See Remarks
    Sold
    Date
    2 September 2026
    Shares
    2,668
    Price
    $261.33
    Value
    $697,228
  • STAUB W RICHARD
    See Remarks
    Sold
    Date
    3 August 2026
    Shares
    5,500
    Price
    $232.68
    Value
    $1m
  • Patel Bhavik
    See Remarks
    Sold
    Date
    31 July 2026
    Shares
    1,855
    Price
    $235.27
    Value
    $436,426
  • Sherbet Eric
    See Remarks
    Sold
    Date
    29 July 2026
    Shares
    5,000
    Price
    $249.16
    Value
    $1m
  • Cherofsky Keriann
    See Remarks
    Sold
    Date
    29 July 2026
    Shares
    558
    Price
    $245.21
    Value
    $136,827
  • BOUSBIB ARI
    See Remarks, Director
    Sold
    Date
    29 July 2026
    Shares
    106,279
    Price
    $245.51
    Value
    $26m
  • BOUSBIB ARI
    See Remarks, Director
    Sold
    Date
    18 December 2025
    Shares
    36,564
    Price
    $222.43
    Value
    $8m
  • Sherbet Eric
    See Remarks
    Sold
    Date
    29 October 2025
    Shares
    4,000
    Price
    $219.70
    Value
    $878,800
  • BOUSBIB ARI
    See Remarks, Director
    Sold
    Date
    29 October 2025
    Shares
    56,557
    Price
    $220.33
    Value
    $12m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 17 Feb 2026, plus the 10-Q filed 28 Jul 2026 and 9 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It carries a lot of debt: 2.5× its equity.
  • It isn't cheap on profits: 25.9× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.