WallStSmart

HealthEquity Inc (HQY)vsVeeva Systems Inc Class A (VEEV)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Veeva Systems Inc Class A generates 154% more annual revenue ($3.46B vs $1.36B). VEEV leads profitability with a 29.3% profit margin vs 17.4%. VEEV appears more attractively valued with a PEG of 1.16. VEEV earns a higher WallStSmart Score of 66/100 (B-).

HQY

Buy

62

out of 100

Grade: C+

Growth: 6.7Profit: 7.5Value: 6.7Quality: 7.5
Piotroski: 7/9Altman Z: 1.86

VEEV

Strong Buy

66

out of 100

Grade: B-

Growth: 8.7Profit: 8.0Value: 6.7Quality: 9.0
Piotroski: 4/9Altman Z: 4.78
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

HQYUndervalued (+58.3%)

Margin of Safety

+58.3%

Fair Value

$184.63

Current Price

$91.75

$92.88 discount

UndervaluedFair: $184.63Overvalued
VEEVUndervalued (+41.1%)

Margin of Safety

+41.1%

Fair Value

$300.79

Current Price

$260.91

$39.88 discount

UndervaluedFair: $300.79Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

HQY1 strengths · Avg: 8.0/10
Operating MarginProfitability
28.4%8/10

Strong operational efficiency at 28.4%

VEEV6 strengths · Avg: 8.8/10
Debt/EquityHealth
0.0210/10

Conservative balance sheet, low leverage

Altman Z-ScoreHealth
4.7810/10

Safe zone — low bankruptcy risk

Profit MarginProfitability
29.3%9/10

Keeps 29 of every $100 in revenue as profit

Operating MarginProfitability
29.6%8/10

Strong operational efficiency at 29.6%

Revenue GrowthGrowth
17.6%8/10

17.6% revenue growth

EPS GrowthGrowth
39.5%8/10

Earnings expanding 39.5% YoY

Areas to Watch

HQY2 concerns · Avg: 4.0/10
P/E RatioValuation
34.1x4/10

Premium valuation, high expectations priced in

Altman Z-ScoreHealth
1.864/10

Grey zone — moderate risk

VEEV1 concerns · Avg: 2.0/10
P/E RatioValuation
42.7x2/10

Premium valuation, high expectations priced in

Comparative Analysis Report

WallStSmart Research

Bull Case : HQY

The strongest argument for HQY centers on Operating Margin. Profitability is solid with margins at 17.4% and operating margin at 28.4%. PEG of 1.38 suggests the stock is reasonably priced for its growth.

Bull Case : VEEV

The strongest argument for VEEV centers on Debt/Equity, Altman Z-Score, Profit Margin. Profitability is solid with margins at 29.3% and operating margin at 29.6%. Revenue growth of 17.6% demonstrates continued momentum.

Bear Case : HQY

The primary concerns for HQY are P/E Ratio, Altman Z-Score.

Bear Case : VEEV

The primary concerns for VEEV are P/E Ratio. A P/E of 42.7x leaves little room for execution misses.

Key Dynamics to Monitor

HQY profiles as a mature stock while VEEV is a growth play — different risk/reward profiles.

VEEV carries more volatility with a beta of 0.97 — expect wider price swings.

VEEV is growing revenue faster at 17.6% — sustainability is the question.

VEEV generates stronger free cash flow (231M), providing more financial flexibility.

Bottom Line

VEEV scores higher overall (66/100 vs 62/100), backed by strong 29.3% margins and 17.6% revenue growth. HQY offers better value entry with a 58.3% margin of safety. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

HealthEquity Inc

HEALTHCARE · HEALTH INFORMATION SERVICES · USA

HealthEquity, Inc. provides technology-enabled service platforms to consumers and employers in the United States. The company is headquartered in Draper, Utah.

Veeva Systems Inc Class A

HEALTHCARE · HEALTH INFORMATION SERVICES · USA

Veeva Systems Inc. provides cloud-based software for the life sciences industry in North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America. The company is headquartered in Pleasanton, California.

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