Is IQVIA Holdings, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for IQVIA Holdings, Inc. moved from very expensive to expensive. Based on the current metrics, the company appears to be overvalued. The P/E ratio stands at 29, which is significantly higher than the peer average of 29.20 for Laboratory Corp. of America Holdings and 27.82 for Quest Diagnostics, Inc. Additionally, the EV to EBITDA ratio of 15.15 is also above the peer average of 14.94 for Laboratory Corp. of America, indicating a premium valuation compared to its peers.
In terms of returns, IQVIA has underperformed against the S&P 500 over the one-year and three-year periods, with returns of -12.54% and 12.90%, respectively, compared to the S&P 500's 14.08% and 81.19%. This underperformance further supports the conclusion that IQVIA Holdings, Inc. is currently overvalued in the market.