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

Illumina, Inc. and IQVIA Holdings Inc. are both Diagnostics & Research companies. IQVIA Holdings Inc. is the larger, with a market value of $44.6B against $40.5B — 1.1× the size. IQVIA Holdings Inc. trades at the lower P/E: 32.8× against 48.4×. 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 48.43 32.83 35.56
P/S 8.81 2.61 4.37
P/B 13.94 7.04 3.06
Price to free cash flow 43.19 19.62 35.76
EV/EBITDA 34.96 17.10 24.35
EV/Sales 8.99 3.43 5.51
Earnings yield 2.06% 3.05% (1.89%)
Free cash flow yield 2.32% 5.10% (0.15%)

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% 25.92%
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 0.70

Dividend

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

Size

Metric ILMN IQV Diagnostics & Research median
Market cap 40.46b 44.61b 2.16b

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