IQV Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	42.78B EUR	31.8B EUR	28.46B EUR	38.23B EUR
Enterprise Value	56.92B EUR	46.14B EUR	42.58B EUR	54.18B EUR
Valuation Multiples
Trailing P/E	32.28x	23.13x	20.55x	34.41x
Forward P/E	18.01x	--	--	--
Price to Sales	2.52x	1.87x	1.71x	3.06x
Price to Book	6.93x	5.15x	4.58x	5.88x
EV/Revenue	3.35x	2.72x	2.56x	4.34x
EV/EBITDA	18.67x	12.5x	11.67x	19.43x
Price to FCF (P/FCF)	19.9x	14.56x	13.45x	23.53x
EV/FCF	26.48x	21.12x	20.12x	33.34x
FCF Yield	5.03%	6.87%	7.43%	4.25%