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Veeva SystemsVEEV +1.94%82 Cyclically Adjusted PB Ratio is 9.23 as of Jul. 20, 2026, which is 41% below its 10-year median of 15.66. GuruFocus rates VEEV with a GF Score™ of 82/100 and a GF Value™ of $289.09 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 357 Healthcare Providers & Services companies, Veeva Systems ranks worse than 92.44% on this metric.
The historical rank and industry rank for Veeva Systems's Cyclically Adjusted PB Ratio or its related term are showing as below:
VEEV'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 7.1 Med: 15.66 Max: 26.65
Current: 9.05
During the past years, Veeva Systems's highest Cyclically Adjusted PB Ratio was 26.65. The lowest was 7.10. And the median was 15.66.
VEEV's Cyclically Adjusted PB Ratio is ranked worse than 92.44% of 357
companies
in the Healthcare Providers & Services industry
Industry Median: 1.85
vs VEEV: 9.05
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
Veeva Systems's adjusted book value per share data for the three months ended in Apr. 2026 was $44.828. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $21.58 for the trailing ten years ended in Apr. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Veeva Systems (NYSE:VEEV) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
Veeva Systems Cyclically Adjusted PB Ratio Related Terms
Veeva Systems Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for Veeva Systems's Cyclically Adjusted PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
VEEV vs BTSG, TEM, HQY: Cyclically Adjusted PB Ratio Comparison
For the Health Information Services subindustry, Veeva Systems's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Veeva Systems Cyclically Adjusted PB Ratio vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Veeva Systems's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Veeva Systems's Cyclically Adjusted PB Ratio falls into.
Veeva Systems Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
Veeva Systems's Cyclically Adjusted PB Ratio for today is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 9.23 mean?
Veeva Systems (VEEV) has a Cyclically Adjusted PB Ratio of 9.23 as of Jul. 20, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Veeva Systems and its competitors. This is 41% below median its historical median of 15.66. Over the past decade, Veeva Systems' Cyclically Adjusted PB Ratio has ranged from 7.10 to 26.65. According to the industry distribution chart, Veeva Systems ranks #330 out of 357 companies in the Healthcare Providers & Services industry, placing it in the top 92.4%.
Is Veeva Systems' Cyclically Adjusted PB Ratio too high?
Veeva Systems' current Cyclically Adjusted PB Ratio of 9.23 is 41% below median its 10-year median of 15.66. Over the past 10 years, this metric has ranged from a low of 7.10 to a high of 26.65. The Healthcare Providers & Services industry median Cyclically Adjusted PB Ratio is 1.85. Veeva Systems' value of 9.23 is 398.9% above this industry median. Based on the distribution chart, Veeva Systems ranks #330 out of 357 companies in the Healthcare Providers & Services industry, which is in the bottom quartile relative to peers. Overall, Veeva Systems has a GF Score™ of 82/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Veeva Systems' Cyclically Adjusted PB Ratio compare to BTSG and TEM?
According to the Healthcare Providers & Services industry distribution chart, Veeva Systems ranks #330 out of 357 companies for Cyclically Adjusted PB Ratio. This places Veeva Systems in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.85. Veeva Systems' value of 9.23 is 398.9% above this benchmark. Historically, Veeva Systems' own Cyclically Adjusted PB Ratio has ranged from 7.10 to 26.65 over the past decade. While the company's 10-year median is 15.66 vs. the industry median of 1.85, Veeva Systems has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Healthcare Providers & Services company?
The median Cyclically Adjusted PB Ratio among Healthcare Providers & Services companies is 1.85, based on 357 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Veeva Systems's current Cyclically Adjusted PB Ratio of 9.23 is 398.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Veeva Systems and its competitors. For the Healthcare Providers & Services industry, the median Cyclically Adjusted PB Ratio is 1.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Veeva Systems's current Cyclically Adjusted PB Ratio is 9.23, which is 41% below median its own 10-year median of 15.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Veeva Systems stock overvalued right now?
Based on GuruFocus' analysis, Veeva Systems (VEEV) is currently considered Significantly Undervalued. The stock's GF Value™ is $289.09, compared to a current price of $199.17 — trading 31.1% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 9.23, which is 41% below median its 10-year median of 15.66 and 398.9% above the Healthcare Providers & Services industry median of 1.85. Veeva Systems' overall GF Score™ is 82/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Veeva Systems (VEEV), the current Cyclically Adjusted PB Ratio is 9.23 as of Jul. 20, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Veeva Systems (VEEV) Overvalued in 2026?
Based on GuruFocus' analysis, Veeva Systems stock appears to be undervalued.
The current stock price of $199.17 is trading 31.1% below its estimated GF Value™ of $289.09.
GuruFocus considers Veeva Systems to be Significantly Undervalued.
Key valuation signals for VEEV:
Cyclically Adjusted PB Ratio: 9.23 (41% below median its 10-year median of 15.66)
GF Value™: $289.09 vs. price of $199.17 (31.1% below fair value)
Industry Position: 398.9% above the Healthcare Providers & Services median (#330 of 357)
No single metric tells the full story. See the VEEV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Veeva is the global leading supplier of cloud-based software solutions for the life sciences industry. The company's best-of-breed offerings address operating and regulatory requirements for customers ranging from small, emerging biotechnology companies to departments of global pharmaceutical manufacturers. The company leverages its domain expertise to improve the efficiency and compliance of the underserved life sciences industry, displacing large, highly customized and dated enterprise resource planning systems that have limited flexibility. Its two main products are Veeva CRM, a customer relationship management platform for companies with a salesforce, and Veeva Vault, a content management platform that tackles various functions within any life sciences company.
82GF Score
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