IQVIA Holdings Inc., current enterprise value calculation

Current share price (P)	$180.01
No. shares of common stock outstanding	182,500,000
US$ in millions
Common equity (market value)¹	32,852)
Add: Non-controlling interests (per books)	—)
Total equity	32,852)
Add: Current portion of long-term debt (per books)	152)
Add: Current finance lease liabilities (per books)	5)
Add: Long-term debt, less current portion (per books)	12,595)
Add: Long-term finance lease liabilities (per books)	224)
Total equity and debt	45,828)
Less: Cash and cash equivalents	1,216)
Less: Investments in debt, equity and other securities	93)
Enterprise value (EV)	44,519)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 180.01 × 182,500,000

IQVIA Holdings Inc., EV calculation

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Share price^1, 2	$227.03	$232.18	$192.66	$165.42	$141.49
No. shares of common stock outstanding¹	185,722,621	190,485,264	191,281,286	192,339,093	197,599,861
US$ in millions
Common equity (market value)³	42,165)	44,227)	36,852)	31,817)	27,958)
Add: Non-controlling interests (book value)	—)	—)	279)	260)	240)
Total equity	42,165)	44,227)	37,131)	32,077)	28,198)
Add: Current portion of long-term debt (book value)	152)	91)	149)	100)	100)
Add: Current finance lease liabilities (book value)	5)	9)	—)	—)	—)
Add: Long-term debt, less current portion (book value)	12,595)	12,034)	12,384)	11,545)	10,907)
Add: Long-term finance lease liabilities (book value)	224)	177)	122)	—)	—)
Total equity and debt	55,141)	56,538)	49,786)	43,722)	39,205)
Less: Cash and cash equivalents	1,216)	1,366)	1,814)	837)	891)
Less: Investments in debt, equity and other securities	93)	111)	88)	62)	47)
Enterprise value (EV)	53,832)	55,061)	47,884)	42,823)	38,267)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of IQVIA Holdings Inc. Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 227.03 × 185,722,621

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	IQVIA Holdings Inc. EV increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.

IQVIA Holdings Inc. (NYSE:IQV)

Enterprise Value (EV)