Enterprise Value to EBITDA (EV/EBITDA)
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
IQVIA Holdings Inc., EBITDA calculation
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Item | Description | The company |
|---|---|---|
| EBITDA | To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. | IQVIA Holdings Inc. EBITDA increased from 2020 to 2021 and from 2021 to 2022. |
Enterprise Value to EBITDA Ratio, Current
IQVIA Holdings Inc., current EV/EBITDA calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | 44,519) |
| Earnings before interest, tax, depreciation and amortization (EBITDA) | 2,897) |
| Valuation Ratio | |
| EV/EBITDA | 15.37 |
| Benchmarks | |
| EV/EBITDA, Competitors1 | |
| AbbVie Inc. | 19.98 |
| Amgen Inc. | 14.08 |
| Bristol-Myers Squibb Co. | 7.48 |
| Danaher Corp. | 24.13 |
| Eli Lilly & Co. | 86.09 |
| Gilead Sciences Inc. | 12.20 |
| Johnson & Johnson | 16.08 |
| Merck & Co. Inc. | 39.74 |
| Moderna Inc. | — |
| Pfizer Inc. | 21.01 |
| Regeneron Pharmaceuticals Inc. | 15.67 |
| Thermo Fisher Scientific Inc. | 20.24 |
| EV/EBITDA, Sector | |
| Pharmaceuticals, Biotechnology & Life Sciences | 14.02 |
| EV/EBITDA, Industry | |
| Health Care | 14.38 |
Based on: 10-K (reporting date: 2022-12-31).
1 Click competitor name to see calculations.
If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.
Enterprise Value to EBITDA Ratio, Historical
IQVIA Holdings Inc., historical EV/EBITDA calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Enterprise value (EV)1 | 53,832) | 55,061) | 47,884) | 42,823) | 38,267) | |
| Earnings before interest, tax, depreciation and amortization (EBITDA)2 | 2,897) | 2,773) | 2,083) | 1,992) | 1,898) | |
| Valuation Ratio | ||||||
| EV/EBITDA3 | 18.58 | 19.86 | 22.99 | 21.50 | 20.16 | |
| Benchmarks | ||||||
| EV/EBITDA, Competitors4 | ||||||
| AbbVie Inc. | 13.31 | 13.44 | 21.34 | 13.68 | — | |
| Amgen Inc. | 12.97 | 13.22 | 12.24 | 12.26 | — | |
| Bristol-Myers Squibb Co. | 9.46 | 8.65 | 34.35 | 23.84 | — | |
| Danaher Corp. | 18.42 | 21.05 | 26.68 | 25.23 | — | |
| Eli Lilly & Co. | 37.74 | 29.85 | 23.67 | 21.40 | — | |
| Gilead Sciences Inc. | 13.89 | 8.57 | 24.90 | 11.77 | — | |
| Johnson & Johnson | 14.78 | 14.47 | 18.20 | 16.28 | — | |
| Merck & Co. Inc. | 13.91 | 12.18 | 16.05 | 13.66 | — | |
| Moderna Inc. | 4.52 | 3.77 | — | — | — | |
| Pfizer Inc. | 6.12 | 8.64 | 15.78 | 9.17 | — | |
| Regeneron Pharmaceuticals Inc. | 15.27 | 6.68 | 12.70 | 14.80 | — | |
| Thermo Fisher Scientific Inc. | 20.25 | 20.21 | 18.72 | 19.74 | — | |
| EV/EBITDA, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 13.10 | 12.43 | 19.64 | 14.94 | — | |
| EV/EBITDA, Industry | ||||||
| Health Care | 13.35 | 13.31 | 16.61 | 14.16 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
3 2022 Calculation
EV/EBITDA = EV ÷ EBITDA
= 53,832 ÷ 2,897 = 18.58
4 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| EV/EBITDA | Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. | IQVIA Holdings Inc. EV/EBITDA ratio decreased from 2020 to 2021 and from 2021 to 2022. |