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 $43.7B against $31.5B — 1.4× the size. IQVIA Holdings Inc. trades at the lower P/E: 31.8× against 35.6×. IQVIA Holdings Inc. grew revenue faster over the last twelve months: 8.85% against 5.83%. Illumina, Inc. has the higher net margin (19.7% vs 8.05%) and the higher return on invested capital (16.7% vs 6.79%). 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 35.62 31.77 34.52
P/S 6.98 2.52 4.24
P/B 10.07 6.42 3.42
Price to free cash flow 30.41 20.96 33.51
EV/EBITDA 26.35 16.54 23.44
EV/Sales 7.19 3.31 5.18
Earnings yield 2.81% 3.15% (1.50%)
Free cash flow yield 3.29% 4.77% 0.00%

Profitability

Metric ILMN IQV Diagnostics & Research median
Gross margin 67.87% 33.07% 48.32%
Operating margin 21.18% 12.82% (5.68%)
Net margin 19.72% 8.05% (4.10%)
Free cash flow margin 23.29% 12.01% 0.00%
Return on equity 32.39% 21.32% 0.00%
Return on assets 13.78% 4.71% (6.05%)
Return on invested capital 16.70% 6.79% 0.00%

Growth

Metric ILMN IQV Diagnostics & Research median
Revenue growth (TTM) 5.83% 8.85% 8.99%
EPS growth (last fiscal year) 170.87% 4.67% 20.36%
Revenue growth, 5-year CAGR 6.04% 7.50% 7.30%
Net income growth, 5-year CAGR 5.32% 37.27% 0.00%

Health

Metric ILMN IQV Diagnostics & Research median
Debt to equity 0.57 2.37 0.01
Current ratio 2.63 0.83 2.27
Net debt to EBITDA (0.13) 4.06 0.68

Dividend

Metric ILMN IQV Diagnostics & Research median
Dividend yield — — 0.67%
Payout ratio — — 0.20

Size

Metric ILMN IQV Diagnostics & Research median
Market cap 31.45b 43.65b 2.22b

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