VEEV VEEV

Name: VEEV Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored March 23, 2026

Price at analysis: $178.08

Crucible Score

65.9

B-

Quality × Value Composite

KQI — Quality

73.6

B+

Fundamental Quality Index

KVI — Value

56.4

Valuation Attractiveness Index

Crucible Verdict — VEEV

Veev (VEEV) presents a classic quality-value disconnect, scoring well on fundamentals (B- overall) but trading 25% below fair value at $178. The company delivers exceptional earnings consistency with a perfect 20-for-20 beat rate, though management effectiveness lags and insiders are selling. The discount creates opportunity for patient investors willing to overlook near-term execution concerns.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

83.5

Growth Profile

81.1

Moat Durability

84.0

Management Effectiveness

55.6

Diversification & Resilience⚠

50.0

Market Position

64.0

Weakest dimension: Diversification & Resilience (50.0)

◆ KVI Value Dimensions

DCF Margin of Safety

73.1

FCF Yield & Cash Returns

43.4

Relative Valuation

23.7

Growth-Adjusted Value

58.8

Historical Valuation

94.5

Macro Context

36.9

◆ DCF Valuation Scenarios

Bear Case

$148.52

Base Case

$222.37

Bull Case

$327.14

Price at Analysis

$178.08

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$148.52	8.0%	30.0%	10.5%
🟢 Base	$222.37	11.0%	33.0%	10.0%
🟢 Bull	$327.14	14.0%	37.0%	9.5%

Key Assumptions: Revenue growth anchored to 5-year historical CAGR of ~15% but decelerating as VEEV matures; operating margins trend from current ~29% toward 30-37% terminal range reflecting SaaS scalability offset by R&D investment. Tax rate normalized to ~15.5% reflecting historical blend between low effective rates and statutory rates, with VEEV benefiting from stock-based compensation deductions. WACC set at 9.5-10.5% using CAPM with 5.5% ERP and beta of 1.12, with scenario-specific adjustments reflecting execution risk.

◆ Financial Snapshot

Profitability

Gross Margin75.5%

Operating Margin28.7%

Net Margin28.4%

ROIC9.4%

ROE14.6%

Balance Sheet

Balance SheetCR: 4.89

Cash ConversionFCF/EPS: 1.54x

Capital IntensityCapex/Rev: 0.9%

Altman Z-Score12.51 (Safe)

Piotroski F-Score5/9 (Mixed)

Growth

Revenue CAGR14.6% CAGR

Earnings CAGR20.8% CAGR

Growth ConsistencyCV: 0.32

Segment Breadth2/2 growing (100%)

Quarterly TrendMargin↑, Cash↓, WC↓, Exp↓

Earnings CredibilityConsistent Beater

◆ Analyst Consensus & Leadership

Leadership & Governance

CEOKevin Bocek · 6 years

CEO Ownership10.3%

Compensation99% performance-based

Insider ActivitySelling

Capital AllocationROIC 9.4% vs WACC 10.7%

Earnings Beat Rate100% (20/20)

◆ Related Companies in Our Universe

Other Unknown companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted March 23, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.