DOCS vs VEEV Stock Comparison: AI Score, Valuation, Performance and Upside
Doximity monetizes a physician-facing professional network primarily through pharmaceutical advertising with a high-margin, asset-light model, while Veeva Systems is the entrenched software-of-record for life sciences companies managing CRM, regulatory, and clinical operations. Both are dominant, high-margin healthcare software franchises, but they serve different ends of the pharmaceutical value chain — physicians versus the drug makers themselves.
Use this DOCS vs VEEV comparison to evaluate two dominant, high-margin healthcare software franchises serving different customers. Doximity's network effect is built around physician engagement and pharma advertising dollars, while Veeva's moat is built around mission-critical software embedded in life sciences companies' regulatory and commercial operations.
VEEV holds the edge across 3 of 5 key metrics in this comparison. VEEV has delivered stronger 1-year price return (-12.18% vs -60.50%), though DOCS has the better forward P/E setup (16.35x vs 24.72x for VEEV). VEEV leads on both revenue growth (16.30%) and operating margin (30.93%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for DOCS (+17.56%) than for VEEV (+2.29%).
- Want exposure to a dominant, high-margin physician network funded by pharmaceutical advertising
- Prefer an asset-light platform with strong free cash flow conversion
- Believe physician engagement and telehealth workflow tools remain durable long-term
- Are comfortable with revenue concentration in pharmaceutical advertising budgets
- Want exposure to the software-of-record for the life sciences industry's CRM and regulatory operations
- Value high switching costs and long-term customer retention within a mission-critical software category
- Prefer a consistently profitable, high-margin SaaS business model
- Are comfortable with growth tied to pharmaceutical and biotech industry spending cycles
| Metric | DOCS | VEEV |
|---|---|---|
| AI score | 23.5 | 53.4 |
| AI rank | #3586 | #296 |
| Latest close | $25.33 | $247.90 |
| 1M return | +23.62% | +34.33% |
| 6M return | +0.40% | +35.78% |
| 1Y return | -60.50% | -12.18% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | DOCS | VEEV |
|---|---|---|
| 1Y ago | $3.95K (-60.5%) started 2025-08-21 | $8.78K (-12.2%) started 2025-08-21 |
| 5Y ago | $2.91K (-70.9%) started 2021-08-23 | $7.69K (-23.1%) started 2021-08-23 |
| 10Y ago | $4.78K (-52.2%) started 2021-06-24 | $62.92K (+529.2%) started 2016-08-22 |
Hypothetical — past performance does not guarantee future results.
| Metric | DOCS | VEEV |
|---|---|---|
| Market cap | $4.51B | $40.27B |
| Trailing P/E | 30.15 | 43.88 |
| Forward P/E | 16.35 | 24.72 |
| Price/Sales | 6.89 | 12.13 |
| EV/Revenue | 5.85 | 9.96 |
| Analyst target | $29.78 | $253.57 |
| Target upside | +17.56% | +2.29% |
| Metric | DOCS | VEEV |
|---|---|---|
| Revenue growth | 7.30% | 16.30% |
| Earnings growth | -51.90% | 14.60% |
| EPS growth | -51.90% | +14.60% |
| FCF margin | +36.56% | +37.95% |
| Operating margin | 21.54% | 30.93% |
| Profit margin | 25.48% | 28.37% |
| ROIC proxy | 17.21% | 13.93% |
| Return on equity | 17.21% | 13.93% |
| Dividend yield | 0.00% | 0.00% |
| Beta | 1.21 | 0.92 |
| Debt/equity | 1.06 | 1.41 |
| Current ratio | 6.08 | 4.74 |
| Quick ratio | 5.80 | 4.67 |
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | DOCS | VEEV |
|---|---|---|---|
| 1Y | Growth | -60.50% | -12.18% |
| CAGR | -60.53% | -12.19% | |
| Sharpe ratio | -1.23 | -0.23 | |
| Max drawdown | 76.03% | 50.55% | |
| Max daily drop | 23.00% | 9.77% | |
| Max wkly drop | 30.81% | 16.81% | |
| 5Y | Growth | -70.94% | -23.12% |
| CAGR | -21.92% | -5.13% | |
| Sharpe ratio | -0.11 | -0.06 | |
| Max drawdown | 82.35% | 54.74% | |
| Max daily drop | 23.00% | 16.24% | |
| Max wkly drop | 32.63% | 21.64% | |
| 10Y | Growth | -52.21% | +529.19% |
| CAGR | -13.34% | +20.20% | |
| Sharpe ratio | 0.06 | 0.55 | |
| Max drawdown | 82.35% | 55.69% | |
| Max daily drop | 23.00% | 16.24% | |
| Max wkly drop | 32.63% | 21.64% |
| Category | DOCS | VEEV |
|---|---|---|
| Company | Doximity, Inc. | Veeva Systems Inc. |
| Sector | Healthcare Technology | Healthcare Technology |
| Industry | N/A | N/A |
| Core business | Digital platform for U.S. physicians and healthcare professionals offering networking, telehealth workflow tools, and information resources, monetized primarily through subscriptions and advertising sold to pharmaceutical and health system clients. | Provider of cloud-based software for the life sciences industry, including customer relationship management (Veeva CRM) and content/quality management (Veeva Vault), used by pharmaceutical and biotech companies to manage regulatory, clinical, and commercial operations. |
| Investor focus | Subscription and advertising revenue growth, physician user engagement and network effects, and high incremental margins as the ad-supported model scales. | Subscription revenue growth, customer retention and expansion within the life sciences vertical, profitability and free cash flow margins, and progress of newer product lines beyond core CRM. |
- Dominant network effect among U.S. physicians, with a large majority of doctors registered on the platform
- High-margin, asset-light business model funded largely by pharmaceutical advertising and health system subscriptions
- Sticky professional network that is difficult for new entrants to replicate given physician trust and adoption
- Dominant, entrenched position in life sciences CRM and content management software with high switching costs
- Consistently profitable, high-margin SaaS business model with strong free cash flow generation
- Long track record of successful product expansion within its core life sciences vertical
- Revenue concentration in pharmaceutical advertising budgets, which can be cyclical
- Growth deceleration risk as physician market penetration in the U.S. matures
- Regulatory or reimbursement changes affecting telehealth workflow tools used within the platform
- Growth deceleration risk as its core life sciences CRM market matures and penetration increases
- Customer concentration within the pharmaceutical and biotech industry ties growth to that sector's spending cycles
- Competitive risk from broader enterprise CRM and data platforms attempting to enter life sciences
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