Illumina, Inc. (ILMN) vs IQVIA Holdings Inc. (IQV)

Illumina, Inc. and IQVIA Holdings Inc. are both Diagnostics & Research companies. Illumina, Inc. and IQVIA Holdings Inc. are of similar size ($45.3B and $41.3B). IQVIA Holdings Inc. trades at the lower P/E: 33.3× against 50.4×. IQVIA Holdings Inc. grew revenue faster over the last twelve months: 8.17% against 4.88%. Illumina, Inc. has the higher net margin (18.4% vs 8.10%) and the higher return on invested capital (17.5% vs 6.80%). Across the 22 metrics below, Illumina, Inc. leads on 11 and IQVIA Holdings Inc. on 11.

Valuation

Metric ILMN IQV Diagnostics & Research median
P/E 50.39 33.26 33.95
P/S 9.16 2.64 4.87
P/B 14.50 7.13 3.12
Price to free cash flow 44.94 19.88 34.02
EV/EBITDA 35.99 17.27 25.20
EV/Sales 9.25 3.46 5.66
Earnings yield 1.98% 3.01% (1.75%)
Free cash flow yield 2.23% 5.03% (0.13%)

Profitability

Metric ILMN IQV Diagnostics & Research median
Gross margin 66.39% 32.97% 50.89%
Operating margin 19.65% 12.95% (8.57%)
Net margin 18.36% 8.10% (6.37%)
Free cash flow margin 20.72% 13.30% 0.00%
Return on equity 32.38% 22.75% (2.92%)
Return on assets 12.95% 4.70% (6.71%)
Return on invested capital 17.46% 6.80% 0.00%

Growth

Metric ILMN IQV Diagnostics & Research median
Revenue growth (TTM) 4.88% 8.17% 7.69%
EPS growth (last fiscal year) 170.87% 4.67% —
Revenue growth, 5-year CAGR 6.04% 7.50% 7.40%
Net income growth, 5-year CAGR 5.32% 37.27% 0.00%

Health

Metric ILMN IQV Diagnostics & Research median
Debt to equity 0.53 2.54 0.11
Current ratio 1.80 0.71 2.02
Net debt to EBITDA (0.13) 4.06 0.78

Dividend

Metric ILMN IQV Diagnostics & Research median
Dividend yield — — 0.70%
Payout ratio 0.00 0.00 0.00

Size

Metric ILMN IQV Diagnostics & Research median
Market cap 41.25b 45.27b 2.56b

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