| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 41 | 32.3x | 17.8x | Around median | |
Growth | 44 | 8.2% | 7.1% | Around median | |
Quality | 66 | 8.9% | 4.5% | Top tier | |
Safety | 40 | 4.3x | 2.6x | Around median | |
Capital Return | 33 | — | 2.12% | Bottom tier | |
Momentum | 92 | 28.9% | 2.9% | Top tier | |
Sentiment | 42 | 14 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
IQVIA provides integrated services to the life sciences sector through two main segments. The Research & Development Solutions segment generated $2.575 billion in revenue in Q2 FY2026 from clinical trial execution, full-service offerings, technologies, laboratories, and patient solutions, while the Commercial Solutions segment generated $1.793 billion from pharmaceutical data, analytics, consulting, technology, and patient and healthcare provider engagement services; the two segments therefore represented approximately 59% and 41% of quarterly revenue, respectively.
IQVIA's revenue in Q2 FY2026 reached approximately $4.368 billion, up 8.7% on a reported basis and 8.5% at constant currency, including approximately 2.5 percentage points from acquisitions. GAAP net income was $256 million, or $1.53 per diluted share, while adjusted net income was $527 million and adjusted earnings per share were $3.15, up 12.1% year over year.
Adjusted earnings before interest, taxes, depreciation, and amortization reached $994 million in Q2 FY2026, equivalent to a margin of approximately 22.8% and year-over-year growth of 9.2%. The margin improved by 10 basis points, as operating productivity programs added 90 basis points and offset an 80-basis-point negative impact from pass-through costs and non-operating factors; in the first half of FY2026, revenue reached $8.519 billion and GAAP net income was $530 million.
The average analyst price target is $237.38, compared with a wide range of between $185 and $287 and a consensus rating of “Buy”; the average is below the 52-week range high of $265.24, while the highest target exceeds that high. The 52-week range is between $154.5 and $265.24, and no usable price-to-earnings ratio is available in the provided data, so the valuation assessment depends heavily on achieving FY2026 guidance and sustaining bookings and margin improvement in the face of high debt and slowdown risks.
Figures in the text are as of 2026-08-27; the live price is shown at the top of the page.
Q2 FY2026 revenue increased 8.7% to $4.368 billion, with total organic growth of 6%. Acquisitions contributed approximately 2.5 percentage points of quarterly growth, while the Commercial Solutions and Research & Development Solutions segments grew 8.6% and 8.8%, respectively. Management raised FY2026 revenue guidance to a range of $17.275–$17.475 billion, driven by improved demand, organic growth, and the contribution from acquisitions.
The Research & Development Solutions backlog reached $34.2 billion as of June 30, 2026, with $9.23 billion expected to convert into revenue over the following twelve months, up 7.5% year over year. Net new bookings in Q2 FY2026 reached $3.15 billion, up 19.3%, with a book-to-bill ratio of 1.22. Management stated that bookings were broad-based and cancellations remained within their historical level, but it also noted a preliminary review that could adjust approximately 5% of the backlog due to inactive trials, with no expected impact on historical results, guidance, or revenue over the following twelve months.
By Q2 FY2026, IQVIA had deployed 294 artificial intelligence agents across 90 use cases. It used its study design, site activation, and patient recruitment capabilities to support wins for phase three trials in stroke and oncology, as well as global autoimmune programs. On the commercial side, a mid-sized pharmaceutical client expanded the use of IQVIA's solution for an immunology franchise across 95 countries, while 19 of the 20 largest pharmaceutical companies had deployed the company's solutions within their workflows.
Automated analysis for informational purposes only — not investment advice.
In Q2 FY2026, Research & Development Solutions generated $2.575 billion in revenue, while Commercial Solutions generated $1.793 billion. Within Research & Development Solutions, the 20 largest pharmaceutical companies represent approximately 50% of revenue, mid-sized companies 15%, and emerging biopharma companies 35%. Commercial Solutions is divided approximately among information at 30%, analytics and consulting at 20%, and technology, patient solutions, and commercial engagement services at a combined 50%.
IQVIA's net debt was approximately $14.09 billion as of June 30, 2026, and its net leverage ratio was 3.59 times trailing twelve-month adjusted earnings before interest, taxes, depreciation, and amortization. Management expects the adjusted earnings before interest, taxes, depreciation, and amortization margin to remain flat at approximately 23.2% in FY2026 because of zero-profit pass-through costs and the lower margins of the acquired Charles River assets. Conversely, the company generated $360 million of free cash flow in Q2 FY2026, up 23% year over year, and productivity programs delivered a 90-basis-point operating margin improvement.
IQVIA repurchased $398 million of shares in Q2 FY2026, bringing total first-half repurchases to $950 million. Approximately $2.8 billion remained under the repurchase authorization as of June 30, 2026, giving the company additional capacity to return capital. Conversely, insiders recorded eight sales with no purchases and net sales of $29.2 million during the three months through the latest transaction on August 3, 2026, but these sales may have been prearranged and are not sufficient on their own to assess the operating trajectory.
