TGM's two-stage DCF values IQVIA Holdings Inc. (IQV) between $46.69 and $133.88 depending on assumptions, with a base case of $82.95. 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 (10.1%) reflects its beta.
What would today's price require?
$208.05 is justified only if free cash flow grows about +19.8% a year (fading to 2.5% long-run) at a 10.1% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 2.6%/yr | 11.1% | $46.69 |
| Base case | 5.6%/yr | 10.1% | $82.95 |
| Optimistic | 8.6%/yr | 9.1% | $133.88 |
| Third-party model estimate (FMP) | independent reference · retrieved Jul 26, 2026 · assumptions not provided | $245.50 | |
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
$208.05
Market-Implied Growth
+19.8%/yr
vs +4.5% 5Y actual
Model Scenario Range
$46.69 – $133.88
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 · 0.17B shares · net debt $14.0B
Estimated Fair Value
$82.95
-60.1% vs $208.05
How the estimated fair value shifts with the discount rate (WACC) and terminal growth, holding your 5.6%/yr FCF growth and 10-year horizon fixed. Green = above today's $208.05; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 8.1% | $115 | $128 | $144 | $162 | $185 |
| 9.1% | $88.35 | $97.82 | $109 | $121 | $136 |
| 10.1% | $67.83 | $74.93 | $82.95 | $92.09 | $103 |
| 11.1% | $51.60 | $57.09 | $63.20 | $70.05 | $77.80 |
| 12.1% | $38.46 | $42.80 | $47.58 | $52.87 | $58.78 |
