Veeva Systems Inc.

WBAG:VEEV Stock Report

Market Cap: €34.0b

Veeva Systems Valuation

Is VEEV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of VEEV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

€268.48
Fair Value
22.5% undervalued intrinsic discount
31
Number of Analysts

Below Fair Value: VEEV (€208.1) is trading below our estimate of fair value (€268.48)

Significantly Below Fair Value: VEEV is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VEEV?

Key metric: As VEEV is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for VEEV. This is calculated by dividing VEEV's market cap by their current earnings.
What is VEEV's PE Ratio?
PE Ratio45.9x
EarningsUS$860.33m
Market CapUS$39.50b

Price to Earnings Ratio vs Peers

How does VEEV's PE Ratio compare to its peers?

The above table shows the PE ratio for VEEV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average57.2x
2413 M3
35.7x13.45%JP¥1.7t
DOCS Doximity
38x7.42%US$9.7b
WAY Waystar Holding
62.5x28.56%US$7.0b
SECT B Sectra
92.6x16.18%SEK 54.3b
VEEV Veeva Systems
45.9x15.59%€39.5b

Price-To-Earnings vs Peers: VEEV is good value based on its Price-To-Earnings Ratio (45.9x) compared to the peer average (57.3x).

Price to Earnings Ratio vs Industry

How does VEEV's PE Ratio compare vs other companies in the European Healthcare Services Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
VEEV 45.9xIndustry Avg. 35.8xNo. of Companies3PE020406080100+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VEEV is expensive based on its Price-To-Earnings Ratio (45.9x) compared to the Global Healthcare Services industry average (36.2x).

Price to Earnings Ratio vs Fair Ratio

What is VEEV's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VEEV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio45.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate VEEV's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst VEEV forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€208.10
€271.87
+30.64%
9.69%€327.79€191.50n/a31
Nov ’26€251.50
€275.67
+9.61%
10.12%€326.72€190.88n/a30
Oct ’26€246.30
€269.84
+9.56%
9.68%€308.42€189.14n/a29
Sep ’26€230.50
€269.58
+16.95%
9.81%€309.47€189.79n/a29
Aug ’26€243.50
€256.37
+5.28%
11.27%€297.77€181.78n/a29
Jul ’26€241.60
€248.24
+2.75%
10.89%€284.42€178.29n/a29
Jun ’26€244.20
€252.48
+3.39%
10.73%€295.07€184.97n/a30
May ’26€202.50
€232.36
+14.75%
8.73%€256.85€178.03n/a30
Apr ’26€209.60
€246.87
+17.78%
9.38%€284.34€186.17n/a30
Mar ’26€213.30
€255.15
+19.62%
11.25%€307.62€187.45n/a30
Feb ’26€228.10
€256.06
+12.26%
11.25%€308.70€188.12n/a30
Jan ’26€204.30
€259.35
+26.94%
9.78%€308.90€188.23n/a30
Dec ’25€217.30
€237.26
+9.19%
11.37%€272.99€165.13€208.1028
Nov ’25€195.25
€216.52
+10.89%
10.75%€263.92€159.64€251.5027
Oct ’25€187.70
€209.69
+11.72%
10.05%€252.37€155.37€246.3027
Sep ’25€194.55
€209.08
+7.47%
10.11%€254.25€156.53€230.5027
Aug ’25€175.60
€204.07
+16.21%
10.99%€247.81€158.78€243.5027
Jul ’25€171.10
€207.64
+21.36%
11.56%€252.18€161.58€241.6026
Jun ’25€159.30
€209.63
+31.59%
11.87%€248.89€159.47€244.2025
May ’25€187.70
€226.53
+20.69%
8.02%€252.94€187.36€202.5027
Apr ’25€216.10
€224.37
+3.83%
8.09%€251.37€186.20€209.6028
Mar ’25€210.00
€214.55
+2.17%
11.01%€249.16€147.65€213.3028
Feb ’25€188.30
€196.38
+4.29%
11.36%€245.64€147.20€228.1026
Jan ’25€175.50
€191.82
+9.30%
11.00%€241.80€144.90€204.3027
Dec ’24€163.10
€198.73
+21.85%
11.46%€245.32€147.01€217.3027
€272.81
Fair Value
23.7% undervalued intrinsic discount
31
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/12/01 14:02
End of Day Share Price 2025/12/01 00:00
Earnings2025/10/31
Annual Earnings2025/01/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Veeva Systems Inc. is covered by 47 analysts. 32 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Joseph VruwinkBaird
Saket KaliaBarclays
Sean DodgeBMO Capital Markets Equity Research