IQV
IQVIA Holdings Inc.
IQV's outlook is improving, though it still trails on the overall score.
LLY
Eli Lilly and Company
LLY has the edge over IQV overall, supported by stronger fundamentals and stronger modeled upside.
IQV Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Weak |
IQV's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet is weak.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
IQV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 20x | $271 | — |
| Cheap | 27x | $218 | -19% |
| Current | 33x | $271 | — |
| Fair | 36x | $292 | +7.6% |
| Expensive | 124x | $1,021 | +277% |
Historical ranges are pointers, not guarantees.
IQV has the edge over LLY in the historical PE scenario, which offers more potential upside but is not a forecast.
LLY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 27x | $845 | -41% |
| Forward | 30x | $1,427 | — |
| Current | 46x | $1,427 | — |
| Fair | 48x | $1,466 | +2.7% |
| Expensive | 85x | $2,612 | +83% |
Historical ranges are pointers, not guarantees.
LLY's PE is in its fair range at 46x. If earnings grow as analysts expect, today's price would be 30x next year's earnings, in its cheap range.
IQV Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for IQV, with profitability holding steady.
LLY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
LLY has the edge over IQV on the outlook, with more favorable profitability expectations.
IQV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.78 | +68% |
| Q3 2026 | $8.21 | +13% |
| Q2 2026 | $8.04 | +17% |
| Q1 2026 | $8.05 | +9.8% |
| Q4 2025 | $7.84 | +4.7% |
| Q3 2025 | $7.28 | -4.5% |
| Q2 2025 | $6.90 | -10% |
| Q1 2025 | $7.33 | +0.1% |
| Q4 2024 | $7.49 | +2.7% |
IQV earned $8.21 per share over the past year, up 13% from the year before.
LLY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $46.82 | +52% |
| Q3 2026 | $30.81 | +51% |
| Q2 2026 | $29.80 | +95% |
| Q1 2026 | $28.15 | +129% |
| Q4 2025 | $22.95 | +96% |
| Q3 2025 | $20.44 | +121% |
| Q2 2025 | $15.30 | +88% |
| Q1 2025 | $12.29 | +81% |
| Q4 2024 | $11.71 | +102% |
LLY has the edge over IQV on earnings, with more consistent year-over-year improvement.
IQV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.4B | +8% |
| Q2 2026 | $4.4B | +8.7% |
| Q1 2026 | $4.2B | +8.4% |
| Q4 2025 | $4.4B | +10% |
| Q3 2025 | $4.1B | +5.2% |
| Q2 2025 | $4B | +5.3% |
| Q1 2025 | $3.8B | +2.5% |
| Q4 2024 | $4B | +2.3% |
IQV's revenue has grown year over year every quarter since late 2020: $4.4B last quarter, up 8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 13% | -0.6 points |
| Q2 2026 | 12% | -1 points |
| Q1 2026 | 12% | -0.6 points |
| Q4 2025 | 14% | -1.5 points |
| Q3 2025 | 13% | -0.6 points |
| Q2 2025 | 13% | -1 points |
| Q1 2025 | 13% | -0.6 points |
| Q4 2024 | 16% | +2.9 points |
IQV's operating margin was 13% last quarter, down 0.6 points from the same quarter a year ago.
LLY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.4B | +39% |
| Q2 2026 | $23B | +48% |
| Q1 2026 | $19.8B | +56% |
| Q4 2025 | $19.3B | +43% |
| Q3 2025 | $17.6B | +54% |
| Q2 2025 | $15.6B | +38% |
| Q1 2025 | $12.7B | +45% |
| Q4 2024 | $13.5B | +45% |
LLY has the edge over IQV on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | -6.6 points |
| Q2 2026 | 40% | -3.3 points |
| Q1 2026 | 45% | +18 points |
| Q4 2025 | 43% | +5.6 points |
| Q3 2025 | 41% | +27 points |
| Q2 2025 | 44% | +12 points |
| Q1 2025 | 27% | -1.8 points |
| Q4 2024 | 37% | +10 points |
LLY has the edge over IQV on profitability, with a higher operating margin.
IQV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $667M | -14% |
| Q2 2026 | $360M | +23% |
| Q1 2026 | $491M | +15% |
| Q4 2025 | $561M | -22% |
| Q3 2025 | $772M | +35% |
| Q2 2025 | $292M | -34% |
| Q1 2025 | $426M | +13% |
| Q4 2024 | $721M | +27% |
IQV's free cash flow has been positive every quarter for seven years: $2.1B over the past year, down 6% from the year before.
LLY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $8.2B | +22% |
| Q2 2026 | $7.8B | +458% |
| Q1 2026 | $3B | +1826% |
| Q4 2025 | $677.9M | -31% |
| Q3 2025 | $6.7B | +186% |
| Q2 2025 | $1.4B | +476% |
| Q1 2025 | $156.1M | -13% |
| Q4 2024 | $977.8M | +$2.4B |
LLY has the edge over IQV on cash flow, with more consistent year-over-year improvement.
IQV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -300K shares |
| 1 year | -2.7% | -4.7M shares |
| 3 years | -10% | -18.5M shares |
| 5 years | -14% | -28.3M shares |
| Available history | -16% | -32.6M shares |
IQV has the edge over LLY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $398M |
| Q1 2026 | $552M |
| Q4 2025 | $212M |
| Q3 2025 | — |
| Q2 2025 | $657M |
| Q1 2025 | $375M |
| Q4 2024 | $1.2B |
IQV spent $1.2B buying back its own shares over the past year, down 47% from the year before.
LLY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -300K shares |
| 1 year | -0.6% | -5.4M shares |
| 3 years | -0.7% | -6.4M shares |
| 5 years | -1.9% | -17.4M shares |
| Available history | -4.5% | -42.3M shares |
LLY has 893M diluted shares, down 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $377M |
| Q2 2026 | $1.6B |
| Q1 2026 | $2.4B |
| Q4 2025 | $1.5B |
| Q3 2025 | $708.1M |
| Q2 2025 | $692.2M |
| Q1 2025 | $1.2B |
| Q4 2024 | $2.1B |
LLY spent $5.8B buying back its own shares over the past year, up 26% from the year before.
IQV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.0x | High |
| Q2 2026 | 4.2x | High |
| Q1 2026 | 4.1x | High |
| Q4 2025 | 4.1x | High |
| Q3 2025 | 4.0x | Elevated |
| Q2 2025 | 4.1x | High |
| Q1 2025 | 3.8x | Elevated |
| Q4 2024 | 3.7x | Elevated |
IQV's net debt is about 4.0 years of its operating earnings (EBITDA), about the same as a year ago.
LLY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 2.0x | Healthy |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 2.1x | Moderate |
LLY has the edge over IQV on leverage, with a lower net debt burden relative to earnings.
IQV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.2 | Neutral |
| Stochastic | 76.5 | Neutral |
IQV's weekly RSI is 65 (neutral) and its Stochastic is 76 (neutral).
LLY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.3 | Neutral |
| Stochastic | 84.1 | Overbought |
LLY's weekly RSI is 68 (neutral) and its Stochastic is 84 (overbought).
IQV PE vs Healthcare Sector
| Metric | IQV | Sector median | Relative |
|---|---|---|---|
| PE | 33x | 26x | 28% above |
| PE % | 38 | 29 | 9 pts above |
IQV has the edge over LLY on valuation relative to its sector.
LLY PE vs Healthcare Sector
| Metric | LLY | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 26x | 79% above |
| PE % | 48 | 29 | 19 pts above |
LLY is trading at 46x earnings, a 79% premium to the Healthcare sector's median of 26x.
IQV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $268.1 | 1.1% above |
| 20 week MA | $250.1 | 8.4% above |
| 50 week MA | $213.9 | 27% above |
| 100 week MA | $198.5 | 37% above |
| 200 week MA | $208.6 | 30% above |
IQV has climbed back above all five of its weekly moving averages, and it's now 30% above its 200-week average.
LLY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,279.4 | 12% above |
| 20 week MA | $1,218.8 | 17% above |
| 50 week MA | $1,102.2 | 29% above |
| 100 week MA | $954.1 | 50% above |
| 200 week MA | $797.5 | 79% above |
LLY is in an uptrend: it's above all five of its weekly moving averages, and 79% above its 200-week average.
IQV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $154.4 | $175.9 | +14% |
| 2021 | $175.9 | $278.0 | +58% |
| 2022 | $278.0 | $203.8 | -27% |
| 2023 | $203.8 | $231.4 | +14% |
| 2024 | $231.4 | $199.4 | -14% |
| 2025 | $199.4 | $226.9 | +14% |
| 2026 YTD | $226.9 | $271.1 | +19% |
IQV has finished higher in four of the last six years. It's up 19% so far in 2026.
LLY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $131.5 | $166.7 | +27% |
| 2021 | $166.7 | $273.1 | +64% |
| 2022 | $273.1 | $367.9 | +35% |
| 2023 | $367.9 | $582.9 | +58% |
| 2024 | $582.9 | $783.2 | +34% |
| 2025 | $783.2 | $1,077.8 | +38% |
| 2026 YTD | $1,077.8 | $1,427.3 | +32% |
LLY has the edge over IQV on returns for 2026, with the stronger performance.