We publish no single base value for IQVIA. Our valuation methods put it between $214.38 and $237.80 a share. The valuation code's reason: no point fair value: the two anchors behind it compound the same growth rate and differ only in how they end — a perpetuity at the terminal rate against a multiple on the final year — so the midpoint between them measures terminal treatment rather than what the business is worth. The published range is the same reading with the false precision removed: read it as the span the method supports, and treat neither edge as a point estimate.
| Method | Value | vs price | Basis |
|---|---|---|---|
| Discounted cash flow | $237.80 | -12.3% | free cash flow $2.08bn, growth 8% for 5 years, then fading to 3% over 5 more, discounted at 10.21%; stress floor $147.07 |
| Exit multiple (P/E) | $214.38 | -20.9% | earnings per share $12.96 valued at 20.33× (the stock's own median P/E) in 5 years, discounted back |
| Sum of the parts | — | — | no sum of the parts: this run holds no segment disclosure for the name |
| Price to sales | — | — | not reached: the cash-flow or earnings methods produced an anchor, so this fallback was not run |
| Tangible book | — | — | used only for lenders, where book value is the business |
| Price to FFO (REITs) | — | — | used only for REITs |
Each working is rebuilt by code from the valuation's own figures and checked against the published value.
The discount rate:
| Risk-free rate | 5.13% (10-year US Treasury yield) |
| Company's own beta | 1.16 (5 years of monthly returns against the S&P 500; standard error 0.25) |
| Peer beta | 1.20 (median of 8 S&P 500 Life Sciences Tools & Services companies) |
| Blend of own and peers | 1.19 (27% own, 73% peers, weighted by how precisely the company's own beta is measured) |
| Adjusted beta | 1.13 (0.67 × 1.19 + 0.33, pulled toward the market's 1.0) |
| Equity risk premium | 4.5% |
| Discount rate = risk-free + adjusted beta × premium | 10.21% |
Free cash flow grows 8.00% a year for 5 years, then fades in equal steps toward 3% over 5 more; each year is discounted by 1 ÷ (1 + rate)^year:
| Year | Growth | Free cash flow | Discount factor | Present value |
|---|---|---|---|---|
| Now | — | $2.08bn | — | — |
| Year 1 | 8.00% | $2.25bn | 0.9073 | $2.04bn |
| Year 2 | 8.00% | $2.42bn | 0.8232 | $2.00bn |
| Year 3 | 8.00% | $2.62bn | 0.7469 | $1.96bn |
| Year 4 | 8.00% | $2.83bn | 0.6777 | $1.92bn |
| Year 5 | 8.00% | $3.05bn | 0.6149 | $1.88bn |
| Year 6 | 7.17% | $3.27bn | 0.5579 | $1.83bn |
| Year 7 | 6.33% | $3.48bn | 0.5062 | $1.76bn |
| Year 8 | 5.50% | $3.67bn | 0.4593 | $1.69bn |
| Year 9 | 4.67% | $3.84bn | 0.4167 | $1.60bn |
| Year 10 | 3.83% | $3.99bn | 0.3781 | $1.51bn |
| Terminal value = year-10 cash flow × (1 + 3%) ÷ (10.21% − 3%) | $56.98bn |
| Terminal value in today's money | $21.54bn |
| Present value of years 1–10 | $18.17bn |
| Total present value | $39.71bn |
| Shares outstanding | 167.00m |
| Value per share = total ÷ shares | $237.80 |
How the DCF value moves with the discount rate and the starting growth (the middle cell is the published value):
| Discount rate | Growth 3% | Growth 8% | Growth 13% |
|---|---|---|---|
| 9.21% | $206.32 | — | $373.66 |
| 10.21% | $177.72 | $237.80 | $317.26 |
| 11.21% | $156.09 | $207.32 | — |
The same DCF at each beta, starting growth unchanged:
| Beta | Value | Discount rate | DCF value |
|---|---|---|---|
| Company's own beta | 1.16 | 10.35% | $233.20 |
| Peer beta | 1.20 | 10.53% | $227.32 |
| Adjusted beta (used) | 1.13 | 10.21% | $237.80 |
Earnings per share grow on the same fading path as the DCF:
| Year | Growth | Earnings per share |
|---|---|---|
| Now | — | $12.96 |
| Year 1 | 8.00% | $14.00 |
| Year 2 | 6.50% | $14.90 |
| Year 3 | 5.45% | $15.72 |
| Year 4 | 4.71% | $16.46 |
| Year 5 | 4.20% | $17.15 |
| Earnings per share in year 5 | $17.15 |
| Exit P/E (the stock's own median P/E) | 20.33× |
| Value in 5 years = earnings × P/E | $348.65 |
| Discounted at 10.21% over 5 years: ÷ 1.6263 | $214.38 |
We publish no single base value for IQVIA. Our valuation methods put it between $214.38 and $237.80 a share. The valuation code's reason: no point fair value: the two anchors behind it compound the same growth rate and differ only in how they end — a perpetuity at the terminal rate against a multiple on the final year — so the midpoint between them measures terminal treatment rather than what the business is worth. The published range is the same reading with the false precision removed: read it as the span the method supports, and treat neither edge as a point estimate.
One-year price simulation: a 10% chance the price is below $204.43 and a 10% chance it is above $408.48 in a year; a 60% chance it is higher than today's $271.11, from 26.87% volatility. The simulation assumes the price drifts up at our discount rate of 10.21% a year.
At $271.11 the price implies free cash flow growing 10.3% a year for five years and then fading toward 3% over five more; its revenue has grown 8.0%.
| Week | Price | Base value |
|---|---|---|
| 2 Oct 2026 | $258.21 | — |
| 9 Oct 2026 | $259.88 | — |
| 16 Oct 2026 | $266.90 | $215.73 |
| 23 Oct 2026 | $279.36 | $216.61 |
| 30 Oct 2026 | $267.33 | — |
| 6 Nov 2026 | $271.83 | $216.96 |
| 12 Nov 2026 | $271.11 | — |
Data as of 12 Nov 2026; financials to 30 Sep 2026. Sources: company filings via EODHD, SEC EDGAR, US Treasury. How these values are computed. Not investment advice.
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