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Veeva SystemsVEEV +2.01%88 Net-Net Working Capital is $36.29 as of Apr. 2026. GuruFocus rates VEEV with a GF Score™ of 88/100 and a GF Value™ of $290.82 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 190 Healthcare Providers & Services companies, Veeva Systems ranks better than 58.42% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Veeva Systems's Net-Net Working Capital for the quarter that ended in Apr. 2026 was $36.29.
The industry rank for Veeva Systems's Net-Net Working Capital or its related term are showing as below:
VEEV's Price-to-Net-Net-Working-Capital is ranked better than 58.42% of 190
companies
in the Healthcare Providers & Services industry
Industry Median: 7.505
vs VEEV: 6.00
Veeva Systems (NYSE:VEEV) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Veeva Systems Net-Net Working Capital Related Terms
Veeva Systems Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Veeva Systems's Net-Net Working Capital 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, HQY, TEM: Net-Net Working Capital Comparison
For the Health Information Services subindustry, Veeva Systems's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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 Price-to-Net-Net-Working-Capital vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Veeva Systems's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Veeva Systems's Price-to-Net-Net-Working-Capital falls into.
* 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.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of $36.29 mean?
Veeva Systems (VEEV) has a Net-Net Working Capital of $36.29 as of Apr. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Veeva Systems According to the industry distribution chart, Veeva Systems ranks #79 out of 190 companies in the Healthcare Providers & Services industry, placing it in the top 41.6%.
Is Veeva Systems' Net-Net Working Capital too high?
Veeva Systems' current Net-Net Working Capital is $36.29. The Healthcare Providers & Services industry median Net-Net Working Capital is 7.51. Veeva Systems' value of $36.29 is 383.5% above this industry median. Based on the distribution chart, Veeva Systems ranks #79 out of 190 companies in the Healthcare Providers & Services industry, which is above the industry midpoint. Overall, Veeva Systems has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Veeva Systems' Net-Net Working Capital compare to BTSG and HQY?
According to the Healthcare Providers & Services industry distribution chart, Veeva Systems ranks #79 out of 190 companies for Net-Net Working Capital. This puts Veeva Systems in the upper half of its industry. The industry median Net-Net Working Capital is 7.51. Veeva Systems' value of $36.29 is 383.5% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Healthcare Providers & Services company?
The median Net-Net Working Capital among Healthcare Providers & Services companies is 7.51, based on 190 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Veeva Systems's current Net-Net Working Capital of $36.29 is 383.5% 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 Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Veeva Systems For the Healthcare Providers & Services industry, the median Net-Net Working Capital is 7.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Veeva Systems's current Net-Net Working Capital is $36.29. 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 Modestly Undervalued. The stock's GF Value™ is $290.82, compared to a current price of $217.80 — trading 25.1% below its estimated fair value. The current Net-Net Working Capital is $36.29 and 383.5% above the Healthcare Providers & Services industry median of 7.51. Veeva Systems' overall GF Score™ is 88/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Veeva Systems (VEEV), the current Net-Net Working Capital is $36.29 as of Apr. 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 $217.80 is trading 25.1% below its estimated GF Value™ of $290.82.
GuruFocus considers Veeva Systems to be Modestly Undervalued.
Key valuation signals for VEEV:
Net-Net Working Capital: $36.29
GF Value™: $290.82 vs. price of $217.80 (25.1% below fair value)
Industry Position: 383.5% above the Healthcare Providers & Services median (#79 of 190)
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.
88GF Score
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