Is IQV or WAT cheaper?

On trailing earnings, IQV is cheaper: IQV trades at a 22.49 P/E and WAT at 45.18.

Which has grown faster, IQV or WAT?

Over the past five years, WAT grew revenue faster — IQV at a 6.72% CAGR versus WAT at 8.48%.

Is IQV or WAT more profitable?

WAT runs the higher net margin — IQV at 8.33% versus WAT at 11.91%.

Which has been the better investment, IQV or WAT?

Over the past 10-year, IQV delivered the higher annualized total return — IQV at 10.71% versus WAT at 9.92%. Past performance doesn't predict future results.

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

IQV leads on 9 of 16 compared metrics.

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 June 14, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

Total return — IQV vs WAT

growth of $100 · last 13y

IQV +330.9%WAT +268.7%IQV compounded faster

IQV WAT

IQV vs WAT: by the numbers

•IQV is the larger company ($30.29B vs $23.17B market cap).
•IQV trades at the lower earnings multiple (22.49 vs 45.18 P/E).
•WAT converts more revenue to profit (11.91% vs 8.33% net margin).
•WAT grew revenue faster over the past five years (8.48% vs 6.72% CAGR).

Which is better, IQV or WAT?

Metric tally: IQV 9 · WAT 7

It depends on what you're optimizing for:

ValueIQV(lower P/E)

GrowthWAT(faster 5Y revenue CAGR)

QualityWAT(higher ROIC)

Metrics side by side

Valuation

Metric	IQV	WAT
P/E ratio	22.49●	45.18
Forward P/E	12.81●	21.65
P/S ratio	1.85●	7.74
P/B ratio	4.95	1.91●
PEG ratio	6.34●	75.62
EV / EBITDA	12.77●	37.11
FCF yield	8.26%●	0.90%

Profitability

Metric	IQV	WAT
Gross margin	26.11%	55.02%●
Operating margin	13.86%	17.08%●
Net margin	8.33%	11.91%●
ROE	22.26%●	2.94%
ROIC	8.23%	17.57%●

Growth (annualized)

Metric	IQV	WAT
Revenue CAGR (5Y)	6.72%	8.48%●
EPS CAGR (5Y)	40.21%●	5.16%
FCF CAGR (5Y)	4.53%●	-17.63%
Total return CAGR (5Y)	-5.71%	1.10%●

Frequently asked

Which is better, IQV or WAT?: It depends on your goal. value: IQV (lower P/E); growth: WAT (faster 5Y revenue CAGR); quality: WAT (higher ROIC). Across all compared metrics, IQV leads 9 to 7.
Is IQV or WAT cheaper?: On trailing earnings, IQV is cheaper: IQV trades at a 22.49 P/E and WAT at 45.18.
Which has grown faster, IQV or WAT?: Over the past five years, WAT grew revenue faster — IQV at a 6.72% CAGR versus WAT at 8.48%.
Is IQV or WAT more profitable?: WAT runs the higher net margin — IQV at 8.33% versus WAT at 11.91%.
Which has been the better investment, IQV or WAT?: Over the past 10-year, IQV delivered the higher annualized total return — IQV at 10.71% versus WAT at 9.92%. 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 dividend yield Waters dividend yield 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

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 June 14, 2026.