Danaher vs IQVIA
Danaher reported revenue of $24.6 billion in fiscal 2025, 1.5 times IQVIA's $16.3 billion in fiscal 2025. Danaher's revenue grew 2.9% in its latest year, and IQVIA's grew 5.9%. Danaher had an operating margin of 19.1%, against 13.4% at IQVIA. Free cash flow was $5.3 billion at Danaher and $2.1 billion at IQVIA.
Side by side
| Danaher | IQVIA | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $24.6B | $16.3B |
| Revenue growth | 2.9% | 5.9% |
| Revenue growth a year, last 5 years | 2.0% | 7.5% |
| Gross margin | 59.1% | — |
| Operating margin | 19.1% | 13.4% |
| Net margin | 14.7% | 8.3% |
| Free cash flow | $5.3B | $2.1B |
| Free cash flow margin | 21.4% | 12.6% |
| Return on capital | 6.1% | 9.4% |
| Net debt to EBITDA | 1.9x | 4.2x |
| Dividends and buybacks | $4.0B | $1.2B |
| Change in diluted share count | −2.9% | −5.4% |
| Last close | $232.97 | $273.60 |
| P/E at the last close | 38.1× | 33.9× |
| Insider trades, last 12 months | sold $257.9 million | sold $51.4 million |
| Piotroski F-score | 7 of 9 | 5 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
DanaherIQVIA
Operating margin
Percent of revenue
DanaherIQVIA
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
DanaherIQVIA