Which has the lower trailing P/E, IQV or WAT?

IQV has the lower trailing P/E: IQV trades at 33.48 and WAT at 105.72. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, IQV or WAT?

Over the past five years, WAT grew revenue faster — IQV at a 5.61% CAGR versus WAT at 11.70%.

Is IQV or WAT more profitable?

IQV runs the higher net margin — IQV at 8.10% versus WAT at 3.58%.

How have IQV and WAT total returns compared?

Over the past 10 years, IQV delivered 13.00% and WAT delivered 10.36% annualized total return. Past performance doesn't predict future results.

IQVIA Holdings Inc. (IQV) vs Waters Corporation (WAT)

A side-by-side comparison of IQVIA Holdings Inc. and Waters Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.

IQV

IQVIA Holdings Inc.

$44.42B

$269.88HealthcareDelayed quote: Sep 21, 2026, 4:00 PM EDT

WAT

Waters Corporation

$41.62B

$423.92HealthcareDelayed quote: Sep 21, 2026, 4:00 PM EDT

Total return — IQV vs WAT

growth of $100 · dividends reinvested · last 10y

IQV +232.7% (+12.8%/yr)WAT +154.2% (+9.8%/yr)IQV compounded faster over this window

IQV WAT

IQV vs WAT: by the numbers

•IQV is the larger company ($44.42B vs $41.62B market cap).
•IQV trades at the lower trailing earnings multiple (33.48 vs 105.72 P/E), one valuation lens rather than an overall verdict.
•IQV converts more revenue to profit (8.10% vs 3.58% net margin).
•WAT grew revenue faster over the past five years (11.70% vs 5.61% CAGR).

Metrics side by side

Valuation

Metric	IQV	WAT
P/E ratio	33.48	105.72
Forward P/E	20.81	29.09
P/S ratio	2.62	8.96
P/B ratio	7.20	2.74
EV / EBITDA	16.84	49.94
FCF yield	4.56%	0.96%

Profitability

Metric	IQV	WAT
Gross margin	26.23%	50.78%
Operating margin	13.57%	28.22%
Net margin	8.10%	3.58%
ROE	22.28%	1.09%
ROIC	8.32%	1.34%

Growth (annualized)

Metric	IQV	WAT
Revenue CAGR (5Y)	5.61%	11.70%
EPS CAGR (5Y)	40.21%	5.16%
FCF CAGR (5Y)	4.44%	-9.10%
Total return CAGR (5Y)	0.10%	-0.83%

Frequently asked

Which has the lower trailing P/E, IQV or WAT?: IQV has the lower trailing P/E: IQV trades at 33.48 and WAT at 105.72. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, IQV or WAT?: Over the past five years, WAT grew revenue faster — IQV at a 5.61% CAGR versus WAT at 11.70%.
Is IQV or WAT more profitable?: IQV runs the higher net margin — IQV at 8.10% versus WAT at 3.58%.
How have IQV and WAT total returns compared?: Over the past 10 years, IQV delivered 13.00% and WAT delivered 10.36% annualized total return. Past performance doesn't predict future results.

Go deeper

Full IQV analysis Full WAT analysis Interactive comparison tool

Dig into the metrics

IQVIA P/E ratio Waters P/E ratio IQVIA ROE Waters ROE IQVIA operating margin Waters operating margin IQVIA revenue growth Waters revenue growth IQVIA free cash flow Waters free cash flow

IQVIA & Waters appear in these rankings

Highest FCF Yield Stocks Highest 10-Year Total Return Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.