COMPARE · Reviewed August 3, 2026
HQY vs VEEV
Verdict: Side-by-side breakdown using the Bull Rankings model. HQY scored 67.6, VEEV scored 81.5 — VEEV leads.
Compare another set
HQY
HealthEquity, Inc.
67.6
$104.45 · $8.7B
fundamentals as of
Score gap
13.9
VEEV leads
VEEV
Veeva Systems Inc.
81.5
$210.94 · $34.3B
fundamentals as of
The model, pillar by pillar (0–100 each)
HQY
stronger →← stronger
VEEV
70
Qualityreturns · margins · balance sheet
77
69
Growthrevenue & earnings expansion
94
64
Valuevaluation vs sector peers
74
VEEV is stronger on 3 of 3 pillars.
Fundamentals, head-to-head
HQY
VEEV
$488mC
FCF
$1.7bC+
+7.6%B
Rev
+16.2%B+
0.48B
D/E
0.01A-
39.1xC+
P/E
37.5xC+
1.44B
PEG
0.92B+
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
HQY
VEEV
7% below
Price vs fair valuelower is cheaper
11% above
~8%/yr
Growth the price implies10-yr FCF · lower = less priced in
~10%/yr
-8%
1-yr DCF upside
-18%
+8%
5-yr DCF upside
-10%
+35%
10-yr DCF upside
+4%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
HQY
Why this score
- Buying back stock
VEEV
No notable signals flagged.
The companies
HQYHealthEquity, Inc.
Why now
Health Information Services · market cap $8.7b. Trading near 52-week high of $105.96 — momentum setup, limited technical margin of safety. 15 sell-side analysts rate this a Strong Buy with a mean 1-yr target of $118.53 (implying +13% upside).
Moat
Net margin 17% beats the market median by a meaningful margin — the company is keeping more of every revenue dollar than the average S&P constituent. ROE 11% meets the long-run market sustainable threshold — solid but not differentiated; the durability comes from elsewhere. Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong.
Risk
Trading within 1% of the 52-week high — limited technical margin of safety; a momentum reversal would test conviction. Trailing P/E 39x sits well above the S&P median (~20x) — multiple compression is a real risk if revenue growth decelerates.
VEEVVeeva Systems Inc.
Why now
Health Information Services · market cap $34.3b. Down 32% from 52-week high of $310.50 — deep drawdown territory. Revenue growing +16%, comfortably above the S&P median. PEG 0.92 — paying under fair value for the growth rate. 28 sell-side analysts rate this a Buy with a mean 1-yr target of $244.14 (implying +16% upside).
Moat
Net margin 28% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. ROE 13% meets the long-run market sustainable threshold — solid but not differentiated; the durability comes from elsewhere. FCF converts 177% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Down 32% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Trailing P/E 37x sits well above the S&P median (~20x) — multiple compression is a real risk if revenue growth decelerates. P/S 10.3x embeds aggressive forward growth — disappointing top-line guidance would compress the multiple hard.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.