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AEACapital Research

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Competitive Comparison

Tempus AI vs. Veeva Systems

Two different applications of software to healthcare and life sciences — the speculative AI-diagnostics bet I hold against the established, profitable clinical-software platform I don't.

MetricTempus AI (TEM)Veeva Systems (VEEV)
PEG ratioNot disclosed in public data as of this writing1.32
EBITDA~$65M (FY26 guidance)n/a (5yr EBITDA growth 15.0%)
Market capn/a$28.42B

Market cap, P/E, PEG, EV/EBITDA, and capex sourced via public filings and financial-data aggregators (GuruFocus, StockAnalysis, company earnings releases), as of July 2026. PEG ratio sourced primarily from GuruFocus where available; different providers use different growth-rate assumptions, so figures elsewhere for the same stock can vary by several multiples. Gold-highlighted column(s) indicate the name(s) actually held in this book.

Why Tempus, sized small, not Veeva

Veeva is an established, profitable software platform serving life-sciences and pharma companies with clinical and regulatory workflow tools — a mature, checkable business with a reasonable 1.32 PEG. Tempus is a genuinely different, earlier-stage bet: applying generative AI directly to clinical, molecular, and imaging data to inform treatment decisions, still working toward the roughly $65 million in adjusted EBITDA guided for full-year 2026. I hold Tempus specifically because it's a distinct application-layer AI bet in healthcare, different from the infrastructure and chip names dominating the rest of the book, sized small in the speculative sleeve to reflect that it's still proving the model rather than scaling a proven one, the way Veeva already has.