Question 1

What is IQVIA's EV/EBITDA ratio?

Accepted Answer

IQVIA (IQV) EV/EBITDA ratio is 8.9× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for IQVIA?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For IQVIA specifically, the relevant sector benchmark is the current sector median of 15.0×.

Question 5

Is IQVIA's EV/EBITDA ratio high or low?

Accepted Answer

IQVIA's EV/EBITDA ratio of 8.9× is below its own 5-year average of 16.5× and below the sector median of 15.0×. That places the current reading at the 2th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is IQVIA's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, IQVIA (IQV) EV/EBITDA ratio has ranged from a low of 7.9× in 2026 to a high of 26.7× in 2021. The 5-year average is 16.5× and the 5-year median is 16.7×.

Question 7

What was IQVIA's EV/EBITDA ratio in 2025?

Accepted Answer

IQVIA (IQV) EV/EBITDA ratio at the end of 2025 was 15.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does IQVIA's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$38.32B	$3.46B	15.1×	+1.4×	Dec 31, 2025
2024	$35.16B	$3.47B	13.7×	-3.0×	Dec 31, 2024
2023	$42.09B	$3.26B	16.7×	-0.4×	Dec 31, 2023
2022	$38.05B	$2.90B	17.1×	-6.4×	Dec 31, 2022
2021	$53.83B	$2.75B	23.5×	+1.7×	Dec 31, 2021
2020	$34.28B	$2.08B	21.8×	+1.4×	Dec 31, 2020
2019	$29.76B	$2.00B	20.4×	+2.8×	Dec 31, 2019
2018	$23.18B	$1.88B	17.7×	+0.3×	Dec 31, 2018
2017	$20.49B	$1.71B	17.4×	-9.1×	Dec 31, 2017
2016	$18.16B	$911.52M	26.5×	+13.7×	Dec 31, 2016
2015	$8.31B	$768.53M	12.7×	+0.6×	Dec 31, 2015
2014	$7.40B	$723.79M	12.2×	-0.9×	Dec 31, 2014
2013	$5.99B	$554.13M	13.1×	-1.2×	Dec 31, 2013
2012	$5.28B	$500.09M	14.3×	—	Dec 31, 2012


Align Technology (ALGN)	14.0×
Gilead Sciences (GILD)	13.9×
Labcorp Holdings (LH)	13.6×
Amgen (AMGN)	13.6×
Charles River (CRL)	13.2×
Regeneron Pharmaceuticals (REGN)	12.9×
GE HealthCare (GEHC)	12.9×
UnitedHealth Group (UNH)	12.7×
Pfizer (PFE)	12.4×
Henry Schein (HSIC)	12.0×
Medtronic (MDT)	11.7×
AptarGroup (ATR)	11.5×
Bristol-Myers Squibb (BMY)	11.5×
Zimmer Biomet Holdings (ZBH)	11.2×
Biogen (BIIB)	10.5×
HCA Healthcare (HCA)	10.0×
Molina Healthcare (MOH)	8.8×
DaVita (DVA)	8.5×
Incyte (INCY)	7.9×
Cigna (CI)	7.8×
Elevance Health (ELV)	6.8×
Novo Nordisk (NVO)	6.5×
Solventum (SOLV)	5.8×
Universal Health Services (UHS)	5.7×
Humana (HUM)	4.5×

EV/EBITDA for IQVIA (IQV)

EV/EBITDA daily chart for IQVIA (IQV)

Historical EV/EBITDA for IQVIA (IQV) from 2012 to 2025

About EV/EBITDA at IQVIA (IQV)

IQVIA EV/EBITDA by Year

IQVIA EV/EBITDA 2025: 15.1×

IQVIA EV/EBITDA 2024: 13.7×

IQVIA EV/EBITDA 2023: 16.7×

IQVIA EV/EBITDA 2022: 17.1×

IQVIA EV/EBITDA 2021: 23.5×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

IQVIA (IQV) Key Financials

EV/EBITDA daily chart for IQVIA (IQV)

Historical EV/EBITDA for IQVIA (IQV) from 2012 to 2025

About EV/EBITDA at IQVIA (IQV)

IQVIA EV/EBITDA by Year

IQVIA EV/EBITDA 2025: 15.1×

IQVIA EV/EBITDA 2024: 13.7×

IQVIA EV/EBITDA 2023: 16.7×

IQVIA EV/EBITDA 2022: 17.1×

IQVIA EV/EBITDA 2021: 23.5×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is IQVIA's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for IQVIA?

+Is IQVIA's EV/EBITDA ratio high or low?

+What is IQVIA's historical EV/EBITDA ratio range?

+What was IQVIA's EV/EBITDA ratio in 2025?

+Why does IQVIA's EV/EBITDA ratio change over time?

IQVIA (IQV) Key Financials