TGM's two-stage DCF values IQVIA Holdings Inc. (IQV) between $47.27 and $137.35 depending on assumptions, with a base case of $84.59. Growth is taken from the company's own record (blend of 5-year revenue and FCF growth), fading to 2.5% long-run; the discount rate (9.9%) reflects its beta.
What would today's price require?
$259.21 is justified only if free cash flow grows about +23.0% a year (fading to 2.5% long-run) at a 9.9% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 2.0%/yr | 10.9% | $47.27 |
| Base case | 5.0%/yr | 9.9% | $84.59 |
| Optimistic | 8.0%/yr | 8.9% | $137.35 |
| Third-party model estimate (FMP) | independent reference · retrieved Sep 8, 2026 · assumptions not provided | $218.43 | |
The FMP figure is a third-party point estimate. Its cash-flow forecast, discount rate, terminal growth, and valuation date are not included in the stored response, so TGMCharts presents it only as a reference—not as an intrinsic-value conclusion or price target.
Current Price
$259.21
Market-Implied Growth
+23.0%/yr
vs +4.4% 5Y actual
Model Scenario Range
$47.27 – $137.35
model output — not a price target
Edit the assumptions to see how they change the estimated fair value. Opens seeded with TGM's data-driven base case for IQV (growth from its own 5-year record, discount from its beta), so the sandbox starts where the scenarios above leave off. Illustrative model — not investment advice.
Base inputs: FCF $1.8B · 0.16B shares · net debt $14.0B
Estimated Fair Value
$84.59
-67.4% vs $259.21
How the estimated fair value shifts with the discount rate (WACC) and terminal growth, holding your 5.0%/yr FCF growth and 10-year horizon fixed. Green = above today's $259.21; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 7.9% | $118 | $132 | $148 | $168 | $192 |
| 8.9% | $90.09 | $100 | $112 | $125 | $141 |
| 9.9% | $68.81 | $76.21 | $84.59 | $94.18 | $105 |
| 10.9% | $52.08 | $57.76 | $64.11 | $71.25 | $79.34 |
| 11.9% | $38.58 | $43.05 | $48.00 | $53.48 | $59.61 |
