Discounted Cash Flow

Iqvia Holdings Inc.

IQV · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $6.9b $115.0m $820.0m 1.7% $0.77
2017 $9.7b (41.6%) $1.3b (1038.3%) $970.0m (18.3%) 13.4% (703.9%) $6.01 (680.5%)
2018 $10.4b (6.9%) $259.0m (-80.2%) $1.3b (29.3%) 2.5% (-81.5%) $1.27 (-78.9%)
2019 $11.1b (6.5%) $191.0m (-26.3%) $1.4b (13.0%) 1.7% (-30.8%) $0.98 (-22.8%)
2020 $11.4b (2.4%) $279.0m (46.1%) $2.0b (38.2%) 2.5% (42.6%) $1.46 (49.0%)
2021 $13.9b (22.1%) $966.0m (246.2%) $2.9b (50.2%) 7.0% (183.5%) $5.05 (245.9%)
2022 $14.4b (3.9%) $1.1b (12.9%) $1.6b (-46.1%) 7.6% (8.7%) $5.82 (15.2%)
2023 $15.0b (4.0%) $1.4b (24.5%) $1.5b (-5.4%) 9.1% (19.7%) $7.39 (27.0%)
2024 $15.4b (2.8%) $1.4b (1.1%) $2.1b (40.9%) 8.9% (-1.7%) $7.57 (2.4%)
2025 $16.3b (5.9%) $1.4b (-0.9%) $2.1b (-3.0%) 8.3% (-6.4%) $7.91 (4.5%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model