IDEXX Laboratories, Inc. (IDXX) vs IQVIA Holdings Inc. (IQV)

IDEXX Laboratories, Inc. and IQVIA Holdings Inc. are both Diagnostics & Research companies. IDEXX Laboratories, Inc. and IQVIA Holdings Inc. are of similar size ($44.6B and $43.1B). IQVIA Holdings Inc. trades at the lower P/E: 32.8× against 39.1×. IDEXX Laboratories, Inc. grew revenue faster over the last twelve months: 12.8% against 8.17%. IDEXX Laboratories, Inc. has the higher net margin (25.0% vs 8.10%) and the higher return on invested capital (48.9% vs 6.80%). Across the 22 metrics below, IDEXX Laboratories, Inc. leads on 13 and IQVIA Holdings Inc. on 9.

Valuation

Metric IDXX IQV Diagnostics & Research median
P/E 39.10 32.83 35.56
P/S 9.72 2.61 4.37
P/B 27.44 7.04 3.06
Price to free cash flow 35.76 19.62 35.76
EV/EBITDA 27.59 17.10 24.35
EV/Sales 9.77 3.43 5.51
Earnings yield 2.56% 3.05% (1.89%)
Free cash flow yield 2.80% 5.10% (0.15%)

Profitability

Metric IDXX IQV Diagnostics & Research median
Gross margin 62.45% 32.97% 50.89%
Operating margin 32.03% 12.95% (8.57%)
Net margin 25.03% 8.10% (6.37%)
Free cash flow margin 27.17% 13.30% 0.00%
Return on equity 74.21% 22.75% (2.92%)
Return on assets 33.65% 4.70% (6.71%)
Return on invested capital 48.87% 6.80% 0.00%

Growth

Metric IDXX IQV Diagnostics & Research median
Revenue growth (TTM) 12.77% 8.17% 7.69%
EPS growth (last fiscal year) 22.59% 4.67% 25.92%
Revenue growth, 5-year CAGR 9.72% 7.50% 7.40%
Net income growth, 5-year CAGR 12.74% 37.27% 0.00%

Health

Metric IDXX IQV Diagnostics & Research median
Debt to equity 0.28 2.54 0.11
Current ratio 1.17 0.71 2.02
Net debt to EBITDA 0.18 4.06 0.70

Dividend

Metric IDXX IQV Diagnostics & Research median
Dividend yield — — 0.66%
Payout ratio — — 0.20

Size

Metric IDXX IQV Diagnostics & Research median
Market cap 43.11b 44.61b 2.16b

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