This paper presents an efficient and stable recursive compliance matrix method for analyzing wave propagation in multilayered piezoelectric media. The effective permittivity and generalized Green's functions for a layered system, a layered system on a substrate, and a layered system between two substrates have been obtained from the elements of the total or surface compliance/stiffness matrices, which are calculated recursively, layer by layer, from the layer compliance/stiffness matrices. The method is very closely related to the transfer matrix method and retains its simplicity and efficiency, but it is numerically stable for high thickness-to-wavelength ratio. Numerical examples for wave propagation in zinc oxide (ZnO)/Diamond/silicon(Si) structures are presented using the compliance matrix formulation for effective permittivity and Green's function.