Doximity, Inc. (DOCS) vs Veeva Systems Inc. (VEEV)

Doximity, Inc. and Veeva Systems Inc. are both Health Information Services companies. Veeva Systems Inc. is the larger, with a market value of $50.7B against $5.6B — 9.0× the size. Doximity, Inc. trades at the lower P/E: 34.8× against 50.0×. Veeva Systems Inc. grew revenue faster over the last twelve months: 16.5% against 11.2%. Veeva Systems Inc. has the higher net margin (29.3% vs 25.5%) and the higher return on invested capital (343.1% vs 53.1%). Across the 21 metrics below, Doximity, Inc. leads on 14 and Veeva Systems Inc. on 7.

Valuation

Metric DOCS VEEV Health Information Services median
P/E 34.80 49.97 39.82
P/S 8.62 14.57 2.24
P/B 6.17 6.78 1.79
Price to free cash flow 19.04 30.74 19.04
EV/EBITDA 22.77 39.74 11.52
EV/Sales 7.58 12.47 2.64
Earnings yield 2.87% 2.00% (2.45%)
Free cash flow yield 5.25% 3.25% 0.00%

Profitability

Metric DOCS VEEV Health Information Services median
Gross margin 88.07% 74.96% 62.87%
Operating margin 29.60% 29.93% (9.45%)
Net margin 25.48% 29.34% (15.48%)
Free cash flow margin 45.31% 47.39% 0.00%
Return on equity 17.21% 14.42% (6.91%)
Return on assets 14.60% 11.90% (6.28%)
Return on invested capital 53.13% 343.12% 0.00%

Growth

Metric DOCS VEEV Health Information Services median
Revenue growth (TTM) 11.18% 16.50% 8.78%
EPS growth (last fiscal year) (11.71%) 25.93% 57.06%
Revenue growth, 5-year CAGR 25.53% 16.88% 11.91%
Net income growth, 5-year CAGR 55.51% 19.05% 0.00%

Health

Metric DOCS VEEV Health Information Services median
Debt to equity 0.00 0.00 0.00
Current ratio 6.08 5.46 2.31
Net debt to EBITDA (3.18) (6.83) 0.48

Dividend

Metric DOCS VEEV Health Information Services median
Dividend yield — — —
Payout ratio — — —

Size

Metric DOCS VEEV Health Information Services median
Market cap 5.61b 50.68b 332.37m

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