Veeva SystemsLTS:0LO3 +2.29%82 Beneish M-Score is -2.89 as of Jun. 25, 2026. GuruFocus rates LTS:0LO3 with a GF Score™ of 82/100 and a GF Value™ of $288.51 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 632 Healthcare Providers & Services companies, Veeva Systems ranks better than 74.05% on this metric.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.89 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Veeva Systems's Beneish M-Score or its related term are showing as below:
LTS:0LO3'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.16 Med: -2.72 Max: -1.39
Current: -2.89
During the past 13 years, the highest Beneish M-Score of Veeva Systems was -1.39. The lowest was -3.16. And the median was -2.72.
Veeva Systems Beneish M-Score Related Terms
Veeva Systems Beneish M-Score Historical Data
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The historical data trend for Veeva Systems's Beneish M-Score 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.
LTS:0LO3 vs BTSG, TEM, HQY: Beneish M-Score Comparison
For the Health Information Services subindustry, Veeva Systems's Beneish M-Score, along with its competitors' market caps and Beneish M-Score 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 Beneish M-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Veeva Systems's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Veeva Systems's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Veeva Systems for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 0.9977
+
0.528 * 1.0064
+
0.404 * 0.8282
+
0.892 * 1.1625
+
0.115 * 1.2278
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9516
+
4.679 * -0.110739
-
0.327 * 1.0005
=
-2.89
* 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.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(40.706 / (40.706 + 122.225))
/
(39.737 / (39.737 + 155.544))
=
0.249836
/
0.203486
=
1.2278
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(941.652 - 287.468
-
1665.183)
/
9129.558
=
-0.110739
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Veeva Systems has a M-score of -2.89 suggests that the company is unlikely to be a manipulator.
Veeva Systems (LTS:0LO3) has a Beneish M-Score of -2.89 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Veeva Systems and its competitors. According to the industry distribution chart, Veeva Systems ranks #164 out of 632 companies in the Healthcare Providers & Services industry, placing it in the top 25.9%.
Is Veeva Systems' Beneish M-Score too high?
Veeva Systems' current Beneish M-Score is -2.89. Based on the distribution chart, Veeva Systems ranks #164 out of 632 companies in the Healthcare Providers & Services industry, which is above the industry midpoint. 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' Beneish M-Score compare to BTSG and TEM?
According to the Healthcare Providers & Services industry distribution chart, Veeva Systems ranks #164 out of 632 companies for Beneish M-Score. This puts Veeva Systems in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Healthcare Providers & Services company?
A good Beneish M-Score depends on the Healthcare Providers & Services industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Veeva Systems and its competitors. Veeva Systems's current Beneish M-Score is -2.89. 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 (LTS:0LO3) is currently considered Significantly Undervalued. The stock's GF Value™ is $288.51, compared to a current price of $163.29 — trading 43.4% below its estimated fair value. The current Beneish M-Score is -2.89. 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 Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Veeva Systems (LTS:0LO3), the current Beneish M-Score is -2.89 as of Jun. 25, 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 (LTS:0LO3) Overvalued in 2026?
Based on GuruFocus' analysis, Veeva Systems stock appears to be undervalued.
The current stock price of $163.29 is trading 43.4% below its estimated GF Value™ of $288.51.
GuruFocus considers Veeva Systems to be Significantly Undervalued.
Key valuation signals for LTS:0LO3:
Beneish M-Score: -2.89
GF Value™: $288.51 vs. price of $163.29 (43.4% below fair value)
No single metric tells the full story. See the LTS:0LO3 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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