IQV vs. WAT: IQVIA vs. Waters Stock Comparison
How do IQVIA (IQV) and Waters (WAT) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.
Company Profile
IQVIA (IQV) and Waters (WAT) are both classified in the Life Sciences Tools & Services sub-industry within the broader Life Sciences Tools & Services industry, placing them in the closest GICS peer bucket.
| Profile Item | IQV | WAT |
|---|---|---|
| Name | IQVIA Holdings Inc. | Waters Corporation |
| Country/Region | United States | United States |
| GICS Sector | Health Care | Health Care |
| GICS Industry Group | Pharmaceuticals, Biotechnology & Life Sciences | Pharmaceuticals, Biotechnology & Life Sciences |
| GICS Industry | Life Sciences Tools & Services | Life Sciences Tools & Services |
| GICS Sub-Industry | Life Sciences Tools & Services | Life Sciences Tools & Services |
| Market Capitalization | 44.80 billion USD | 44.93 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | May 9, 2013 | November 17, 1995 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | IQV | WAT |
|---|---|---|
| Total Return (1Y) | 32.11% | 27.70% |
| Total Return (3Y, Annualized) | 13.15% | 23.32% |
| Total Return (5Y, Annualized) | 2.00% | 6.27% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | IQV | WAT |
|---|---|---|
| Volatility (1Y, Annualized) | 40.77% | 35.45% |
| Beta (5Y) | 1.14 | 1.13 |
| Max Drawdown (5Y) | -51.52% | -36.47% |
| Avg. Volume (3M) | 1.40M | 816.72K |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | IQV | WAT |
|---|---|---|
| Sharpe Ratio (1Y) | 0.68 | 0.66 |
| Sortino Ratio (1Y) | 1.03 | 0.98 |
Profitability
ROE (TTM)
IQVIA (IQV) at 21.39% sits in the top ROE quartile, while Waters (WAT) at 1.12% is closer to the peer norm — stronger capital efficiency for IQV.
IQV
Pharmaceuticals, Biotechnology & Life Sciences industry group
21.39%
- Max
- 109.18%
- IQV
- 21.39%
- Q3
- 6.23%
- Median
- -26.66%
- Q1
- -64.05%
- Min
- -167.77%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
1.12%
- Max
- 109.18%
- Q3
- 6.23%
- WAT
- 1.12%
- Median
- -26.66%
- Q1
- -64.05%
- Min
- -167.77%
Net Margin (TTM)
IQVIA (IQV) at 8.05% retains a top-quartile share of revenue as profit, ahead of Waters (WAT) at 1.76%, which keeps about the industry-typical share.
IQV
Pharmaceuticals, Biotechnology & Life Sciences industry group
8.05%
- Max
- 18.05%
- IQV
- 8.05%
- Q3
- 4.78%
- Median
- 0.00%
- Q1
- -4.14%
- Min
- -17.05%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
1.76%
- Max
- 18.05%
- Q3
- 4.78%
- WAT
- 1.76%
- Median
- 0.00%
- Q1
- -4.14%
- Min
- -17.05%
Operating Margin (TTM)
Both IQVIA (IQV) at 13.73% and Waters (WAT) at 11.38% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.
IQV
Pharmaceuticals, Biotechnology & Life Sciences industry group
13.73%
- Max
- 83.12%
- Q3
- 14.77%
- IQV
- 13.73%
- Median
- 0.00%
- Q1
- -78.82%
- Min
- -207.40%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
11.38%
- Max
- 83.12%
- Q3
- 14.77%
- WAT
- 11.38%
- Median
- 0.00%
- Q1
- -78.82%
- Min
- -207.40%
Profitability Metrics
| Metric | IQV | WAT |
|---|---|---|
| ROE (TTM) | 21.39% | 1.12% |
| ROA (TTM) | 5.08% | 2.36% |
| Net Margin (TTM) | 8.05% | 1.76% |
| Operating Margin (TTM) | 13.73% | 11.38% |
| Gross Margin (TTM) | 33.07% | 49.83% |
Growth
Revenue Growth
Both IQVIA (IQV) at 5.87% and Waters (WAT) at 6.99% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.
EPS Growth
Both IQVIA (IQV) at 4.67% and Waters (WAT) at 0.47% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.
Growth Metrics
| Metric | IQV | WAT |
|---|---|---|
| Revenue Growth (YoY) | 5.87% | 6.99% |
| Revenue Growth (3Y CAGR) | 4.21% | 2.12% |
| EPS Growth (YoY) | 4.67% | 0.47% |
| EPS Growth (3Y CAGR) | 11.08% | -2.84% |
Financial Strength
Current Ratio (MRQ)
Short-term liquidity can only be read on one side of this pairing: IQVIA (IQV) shows current ratio of 0.83 against its industry benchmark, while Waters (WAT) has no reading this period.
IQV
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.83
- Max
- 25.13
- Q3
- 12.13
- Median
- 5.52
- Q1
- 2.47
- IQV
- 0.83
- Min
- 0.10
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
--
- Max
- 25.13
- Q3
- 12.13
- Median
- 5.52
- Q1
- 2.47
- Min
- 0.10
- WAT
- --
Debt / Equity (MRQ)
Waters (WAT) at 0.34 is near its industry mid-range for debt-to-equity ratio, while IQVIA (IQV) at 2.40 sits above its benchmark range, pointing to a heavier debt load relative to equity.
IQV
Pharmaceuticals, Biotechnology & Life Sciences industry group
2.40
- IQV
- 2.40
- Max
- 1.42
- Q3
- 0.65
- Median
- 0.15
- Q1
- 0.02
- Min
- 0.00
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.34
- Max
- 1.42
- Q3
- 0.65
- WAT
- 0.34
- Median
- 0.15
- Q1
- 0.02
- Min
- 0.00
Financial Strength Metrics
| Metric | IQV | WAT |
|---|---|---|
| Current Ratio (MRQ) | 0.83 | -- |
| Debt / Equity (MRQ) | 2.40 | 0.34 |
| Net Debt / EBITDA | 4.46 | 3.23 |
Dividends
Dividend Yield (TTM)
Neither IQVIA (IQV) nor Waters (WAT) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
IQV
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.00%
- IQV
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.00%
- WAT
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Neither IQVIA (IQV) nor Waters (WAT) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
IQV
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.00%
- IQV
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.00%
- WAT
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | IQV | WAT |
|---|---|---|
| Dividend Yield (TTM) | 0.00% | 0.00% |
| Dividend Payout Ratio (TTM) | 0.00% | 0.00% |
Valuation
P/E Ratio (TTM)
IQVIA (IQV) at 33.07 is near its industry’s usual P/E ratio, while Waters (WAT) at 191.46 sits above its peer range — an unusually expensive price for WAT’s trailing earnings.
IQV
Pharmaceuticals, Biotechnology & Life Sciences industry group
33.07
- Max
- 85.34
- Q3
- 43.46
- IQV
- 33.07
- Median
- 26.69
- Q1
- 13.30
- Min
- 0.07
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
191.46
- WAT
- 191.46
- Max
- 85.34
- Q3
- 43.46
- Median
- 26.69
- Q1
- 13.30
- Min
- 0.07
P/S Ratio (TTM)
IQVIA (IQV) at 2.59 sits in the cheaper P/S ratio quartile while Waters (WAT) at 8.01 prices around its industry’s middle — IQV costs less per dollar of sales, though read it alongside growth and margins.
IQV
Pharmaceuticals, Biotechnology & Life Sciences industry group
2.59
- Max
- 58.18
- Q3
- 25.77
- Median
- 7.30
- Q1
- 3.01
- IQV
- 2.59
- Min
- 0.01
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
8.01
- Max
- 58.18
- Q3
- 25.77
- WAT
- 8.01
- Median
- 7.30
- Q1
- 3.01
- Min
- 0.01
P/B Ratio (MRQ)
Waters (WAT) at 2.94 is valued about in line with its industry on P/B ratio, while IQVIA (IQV) at 6.73 carries an above-peer premium to book — IQV is pricier on assets.
IQV
Pharmaceuticals, Biotechnology & Life Sciences industry group
6.73
- Max
- 13.53
- IQV
- 6.73
- Q3
- 6.54
- Median
- 3.25
- Q1
- 1.69
- Min
- -5.59
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
2.94
- Max
- 13.53
- Q3
- 6.54
- Median
- 3.25
- WAT
- 2.94
- Q1
- 1.69
- Min
- -5.59
Valuation Metrics
| Metric | IQV | WAT |
|---|---|---|
| P/E Ratio (TTM) | 33.07 | 191.46 |
| P/S Ratio (TTM) | 2.59 | 8.01 |
| P/B Ratio (MRQ) | 6.73 | 2.94 |
| Free Cash Flow Yield (TTM) | 4.72% | -- |