Capital IQ vs PitchBook, which is better for private companies?
For private company deals, rounds and investors, PitchBook is usually the better fit; for financials and comparables that feed a model, Capital IQ is. S&P says Capital IQ Pro covers more than 60 million private companies, 16 million of them with recent financials (S&P Global, 2026). PitchBook lists 13.4 million companies and 3.2 million deals (PitchBook, 2026).
How do Capital IQ and PitchBook differ on private companies?
They count different things. Capital IQ starts from company financials and firmographics, so its private universe is large but thin: of the 60 million private companies S&P lists, about 16 million carry recent financials (S&P Global). PitchBook starts from capital events, so it tracks fewer companies but more of what matters to a deal team: rounds, investors, valuations where known and exits (PitchBook).
Comparisons published in 2026 draw the same line. One describes Capital IQ as strongest on public company fundamentals and Excel work, and PitchBook as the leader in private markets (ZoomInfo, July 2026). That article comes from a vendor selling a third tool, so read it as a summary of positioning rather than a test.
Capital IQ vs PitchBook side by side
| Feature | S&P Capital IQ | PitchBook | Source |
|---|---|---|---|
| Reported price | About $13,000 a year and up; S&P Global contracts median $56,672 (all products) | $12,000 to $70,000 a year, quote-based | PageCrawl, Vendr, VC Beast |
| Private coverage | 60M+ private companies, 16M+ with recent financials (self-reported) | 13.4M companies, 3.2M deals, 175K funds (self-reported) | S&P Global, PitchBook |
| G2 rating | 4.3 from 68 reviews (Capital IQ Pro) | About 4.5 | G2 |
| Ease of setup on G2 | 7.8 | 8.9 | G2 |
| Best for | Financials, comparables, Excel models, public companies | Private deals, rounds, investors, fund data | Sources above |
| Main gap | Learning curve; private records often lack financials | Stale data on smaller companies | G2, G2 |
Prices above are reported by third parties, several of which sell competing tools. Check current terms with each vendor.
Is Capital IQ good for private company financials?
For larger private companies, often yes; for small ones, rarely. US private companies do not file financial statements, so any database's private financials come from voluntary disclosure, debt filings, foreign registers or estimates. S&P's own split, 16 million with recent financials out of more than 60 million (S&P Global), shows how much of the universe is a name and an address. Our guide on how to research a private company covers the public records that fill the gap.
Is PitchBook or Capital IQ better for private equity?
PitchBook for sourcing, Capital IQ for the model. PE deal teams use PitchBook to find targets, see who backs them and pull comparable deals. Associates building an LBO or a comps table often prefer Capital IQ's Excel plug-in, which reviewers on G2 single out alongside its breadth (G2). Many firms pay for both.
What do users complain about?
For PitchBook, freshness. G2's summary of 262 reviews counts 36 mentions of outdated information and 29 of limited data on smaller companies (G2). For Capital IQ, the interface. G2 reviewers mention a steeper learning curve, higher cost and a busy screen, and PitchBook scores 8.9 for ease of setup against 7.8 for Capital IQ Pro (G2).
How much does Capital IQ cost compared with PitchBook?
Both quote privately. A 2026 guide reports Capital IQ at about $13,000 a year and up (PageCrawl). Vendr reports a median of $56,672 across 58 S&P Global purchases, with a range of $13,700 to $215,000, but that figure covers every S&P Global product, not Capital IQ alone (Vendr). PitchBook is reported at $12,000 to $70,000 (VC Beast); see PitchBook's cost and alternatives.
Who should pick Capital IQ?
Bankers, corporate development teams and credit analysts who build models on financial statements and need public and private companies in the same screen. If most of your private targets are large enough to have reported financials somewhere, Capital IQ gives you more of them in a format Excel can read.
Who should pick PitchBook?
Venture and PE investors whose targets are young, private and changing fast. If the question is who raised what, from whom and when, PitchBook answers it more directly. Test it on your own pipeline first, because the small-company gaps reviewers describe sit exactly where early-stage funds work.
When should you keep Capital IQ?
Keep Capital IQ if your models pull from its Excel plug-in every day, or if your work spans public comparables and private targets. Rewiring models to a new data source takes weeks, and few tools match its depth on listed companies. Keep PitchBook alongside it if your team also sources private deals.
Where does Tamarly Intelligence fit?
Tamarly Intelligence is Tamarly's research platform on companies, funds, countries and markets, built from official filings and open data. It holds 19,910 company pages built from free public records such as SEC EDGAR, UK Companies House, European ESEF filings and GLEIF, and every figure links to the filing or record it came from. When Tamarly does not cover a company it says so.
Its deals database is built from SEC merger filings, and each venture-backed company has its Form D history rebuilt into rounds. It has no Excel data feed, no market prices and no investor names on private rounds, so it does not replace Capital IQ for modelling or PitchBook for investor data. It suits teams who want a sourced first read on a private company before they open either.
Run a sourced read on any private company free for 7 days
Frequently asked questions
Does Capital IQ have more private companies than PitchBook?
By headline count, yes. S&P lists more than 60 million private companies (S&P Global) against PitchBook's 13.4 million companies (PitchBook). Fewer than a third of Capital IQ's private records carry recent financials.
Is Capital IQ cheaper than PitchBook?
Reported entry prices are similar, around $12,000 to $13,000 a year for each (PageCrawl; VC Beast). Final cost depends on seats, add-ons and negotiation.
Can I get Capital IQ or PitchBook for free?
Neither offers a free plan. Many universities provide student access to both through their libraries. For private companies, SEC EDGAR and UK Companies House are free primary sources.
About the author. Melvine Manchau is the founder of Tamarly and author of the Tamarly Newsletter. He previously worked at PwC, Salesforce, BlackRock/eFront and Lazard.
About Tamarly Research. Tamarly Research is part of Tamarly Media, which holds no investment positions. Tamarly is a New York research house that studies how AI is changing regulated institutions.