IQV
IQVIA Holdings Inc.
$266.42
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 126.5% above fair value
You pay
$266.42
Bear
$94.08
Fair
$117.60
Bull
$141.12
Bear
$94.08
-64.7%
$7.84 × 12x P/E
Fair
$117.60
-55.9%
$7.84 × 15x P/E
Bull
$141.12
-47.0%
$7.84 × 18x P/E
Adjust Assumptions
15.0x
7.84$
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
34.0x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (45 analysts)
$246.13
Divergence from AlphaVal
52%
Summary
Applying a 15x P/E to adjusted EPS of $7.84, the base-case value is $117.60 per share.
Warnings
Wall Street's average price target is $246.13 (from 45 analysts). Our estimate is 52% below the consensus -- consider that gap carefully.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples