NYSE : VEEV
Veeva Systems Inc. — Financial statements
Healthcare · Health Information Services · United States
Last price 312.96 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 50.67B
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Financial statements
Veeva Systems Inc. (VEEV) reported revenue of 3.46B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 3.46B | 3.20B | 2.75B | 2.36B | 2.16B | 1.85B |
| Cost of Revenue | 865.88M | 782.02M | 699.64M | 677.29M | 609.40M | 503.68M |
| Gross Profit | 2.59B | 2.41B | 2.05B | 1.69B | 1.55B | 1.35B |
| Selling, General & Admin | 735.44M | 698.91M | 657.47M | 628.02M | 566.29M | 459.57M |
| Research & Development | 821.92M | 767.39M | 693.08M | 629.03M | 520.28M | 382.04M |
| Operating Expenses | 1.56B | 1.47B | 1.35B | 1.26B | 1.09B | 841.60M |
| Operating Income | 1.03B | 947.00M | 696.43M | 429.33M | 459.09M | 505.50M |
| Interest & Investment Income | 274.30M | 267.22M | 207.99M | 133.75M | 45.86M | 14.73M |
| Currency Exchange Gain (Loss) | 10.54M | 1.53M | -3.27M | 124.00K | 591.00K | -714.00K |
| Other Non Operating Income (Expenses) | 934.00K | 934.00K | 611.00K | 572.00K | ||
| EBT Excluding Unusual Items | 1.32B | 1.22B | 901.76M | 563.21M | 506.11M | 519.51M |
| Gain (Loss) on Sale of Investments | 6.76M | 8.45M | 22.62M | 24.82M | 2.98M | -7.20M |
| Legal Settlements | -30.63M | -5.00M | ||||
| Pretax Income | 1.33B | 1.19B | 919.38M | 588.02M | 509.10M | 512.31M |
| Income Tax Expense | 312.61M | 285.60M | 205.24M | 62.32M | 21.39M | 84.92M |
| Net Income | 1.01B | 908.91M | 714.14M | 525.71M | 487.71M | 427.39M |
| Net Income to Common | 1.01B | 908.91M | 714.14M | 525.71M | 487.71M | 427.39M |
| Shares Outstanding (Basic) | 163.52M | 163.67M | 161.88M | 160.53M | 155.38M | 153.25M |
| Shares Outstanding (Diluted) | 166.40M | 167.00M | 165.23M | 163.49M | 162.44M | 162.28M |
| EPS (Basic) | 6.21 | 5.55 | 4.41 | 3.27 | 3.14 | 2.79 |
| EPS (Diluted) | 6.10 | 5.44 | 4.32 | 3.22 | 3.00 | 2.63 |
| Free Cash Flow | 1.64B | 1.39B | 1.07B | 885.14M | 766.96M | 750.25M |
| Free Cash Flow Per Share | 9.85 | 8.30 | 6.47 | 5.41 | 4.72 | 4.62 |
| Gross Margin | 74.96% | 75.53% | 74.53% | 71.35% | 71.72% | 72.79% |
| Operating Margin | 29.93% | 29.64% | 25.36% | 18.16% | 21.30% | 27.31% |
| Profit Margin | 29.34% | 28.44% | 26.00% | 22.24% | 22.63% | 23.09% |
| Free Cash Flow Margin | 47.39% | 43.38% | 38.94% | 37.45% | 35.59% | 40.54% |
| EBITDA | 1.08B | 984.97M | 735.82M | 461.96M | 488.21M | 532.94M |
| EBITDA Margin | 31.10% | 30.83% | 26.79% | 19.54% | 22.65% | 28.80% |
| D&A For EBITDA | 40.48M | 37.97M | 39.38M | 32.63M | 29.12M | 27.45M |
| EBIT | 1.03B | 947.00M | 696.43M | 429.33M | 459.09M | 505.50M |
| EBIT Margin | 29.93% | 29.64% | 25.36% | 18.16% | 21.30% | 27.31% |
| Effective Tax Rate | 23.55% | 23.91% | 22.32% | 10.60% | 4.20% | 16.58% |
| Revenue as Reported | 3.46B | 3.20B | 2.75B | 2.36B | 2.16B | 1.85B |
Balance sheet
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.81B | 1.42B | 1.12B | 703.49M | 886.47M | 1.14B |
| Short-Term Investments | 5.43B | 5.14B | 4.03B | 3.32B | 2.22B | 1.24B |
| Cash & Short-Term Investments | 7.24B | 6.56B | 5.15B | 4.03B | 3.10B | 2.38B |
| Receivables | 565.65M | 1.31B | 1.06B | 888.54M | 785.23M | 694.40M |
| Prepaid Expenses | 137.63M | 126.47M | 101.46M | 86.92M | 81.46M | 36.68M |
| Total Current Assets | 7.95B | 8.00B | 6.31B | 5.00B | 3.97B | 3.11B |
| Property, Plant & Equipment | 208.80M | 145.89M | 119.78M | 104.13M | 105.15M | 104.14M |
| Goodwill | 492.99M | 439.88M | 439.88M | 439.88M | 439.88M | 439.88M |
| Other Intangible Assets | 55.65M | 30.31M | 44.46M | 63.02M | 82.48M | 101.94M |
| Long-Term Deferred Tax Assets | 268.25M | 273.42M | 343.92M | 233.46M | 136.70M | 5.10M |
| Long-Term Deferred Charges | 27.84M | 29.96M | 26.38M | 23.92M | 31.82M | 33.11M |
| Other Long-Term Assets | 60.47M | 62.26M | 56.54M | 43.30M | 38.95M | 25.13M |
| Total Assets | 9.06B | 8.98B | 7.34B | 5.91B | 4.80B | 3.82B |
| Accounts Payable | 35.98M | 37.64M | 30.45M | 31.51M | 41.68M | 20.35M |
| Accrued Expenses | 91.82M | 91.74M | 74.99M | 76.41M | 79.59M | 69.94M |
| Current Portion of Leases | 14.63M | 12.15M | 9.97M | 9.33M | 11.31M | 10.98M |
| Current Income Taxes Payable | 3.02M | 6.70M | 9.02M | 11.86M | 4.95M | 7.76M |
| Current Unearned Revenue | 1.31B | 1.49B | 1.27B | 1.05B | 869.28M | 731.75M |
| Total Current Liabilities | 1.46B | 1.64B | 1.40B | 1.18B | 1.01B | 840.78M |
| Long-Term Leases | 137.06M | 83.71M | 65.81M | 46.44M | 49.67M | 43.61M |
| Long-Term Deferred Tax Liabilities | 2.06M | 558.00K | 587.00K | 2.05M | 1.49M | 2.22M |
| Other Long-Term Liabilities | 33.71M | 43.27M | 42.59M | 38.72M | 30.08M | 18.23M |
| Total Liabilities | 1.63B | 1.76B | 1.51B | 1.27B | 1.09B | 904.83M |
| Common Stock | 2.00K | 2.00K | 2.00K | 2.00K | 2.00K | 2.00K |
| Additional Paid-In Capital | 2.58B | 2.84B | 2.39B | 1.92B | 1.53B | 1.20B |
| Retained Earnings | 4.90B | 4.36B | 3.45B | 2.74B | 2.21B | 1.73B |
| Comprehensive Income & Other | -46.15M | 8.16M | -8.42M | -10.64M | -31.13M | -11.96M |
| Shareholders' Equity | 7.43B | 7.21B | 5.83B | 4.64B | 3.72B | 2.91B |
| Total Liabilities & Equity | 9.06B | 8.98B | 7.34B | 5.91B | 4.80B | 3.82B |
| Total Debt | 151.69M | 95.86M | 75.78M | 55.77M | 60.98M | 54.59M |
| Net Cash (Debt) | 7.09B | 6.46B | 5.07B | 3.97B | 3.04B | 2.32B |
| Net Cash Per Share | 42.62 | 38.71 | 30.71 | 24.30 | 18.73 | 14.31 |
| Filing Date Shares Outstanding | 161.91M | 163.33M | 162.70M | 161.32M | 159.81M | 154.36M |
| Total Common Shares Outstanding | 161.83M | 163.78M | 162.58M | 161.26M | 158.24M | 154.20M |
| Working Capital | 6.49B | 6.36B | 4.91B | 3.82B | 2.96B | 2.27B |
| Book Value Per Share | 45.92 | 44.05 | 35.87 | 28.80 | 23.48 | 18.88 |
| Tangible Book Value | 6.88B | 6.74B | 5.35B | 4.14B | 3.19B | 2.37B |
| Tangible Book Value Per Share | 42.53 | 41.18 | 32.89 | 25.68 | 20.18 | 15.37 |
| Land | 3.04M | 3.04M | 3.04M | 3.04M | 3.04M | |
| Buildings | 20.98M | 20.98M | 20.98M | 20.98M | 20.98M | |
| Machinery | 10.35M | 7.77M | 18.05M | 16.23M | 18.62M | |
| Construction In Progress | 2.06M | 2.99M | 31.00K | 302.00K | 730.00K | |
| Leasehold Improvements | 45.15M | 30.19M | 30.79M | 18.99M | 19.00M |
Cash flow statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 1.01B | 908.91M | 714.14M | 525.71M | 487.71M | 427.39M |
| Depreciation & Amortization | 40.48M | 37.97M | 39.38M | 32.63M | 29.12M | 27.45M |
| Other Amortization | 18.02M | 16.42M | 15.53M | 18.18M | 22.10M | 26.05M |
| Loss (Gain) From Sale of Investments | -8.00M | -9.69M | -24.44M | -26.52M | -3.62M | 6.26M |
| Stock-Based Compensation | 494.59M | 472.70M | 437.35M | 393.73M | 351.91M | 234.64M |
| Provision & Write-off of Bad Debts | 272.00K | |||||
| Other Operating Activities | 76.69M | 80.85M | -99.53M | -93.21M | -114.08M | 21.74M |
| Change in Accounts Receivable | -88.04M | -254.55M | -168.97M | -104.00M | -91.08M | -83.08M |
| Change in Accounts Payable | 2.07M | 6.08M | -1.96M | -10.23M | 21.43M | -3.00M |
| Change in Unearned Revenue | 193.94M | 213.06M | 227.84M | 188.16M | 140.47M | 116.14M |
| Change in Income Taxes | -909.00K | -2.33M | -2.84M | 6.92M | -2.81M | 5.28M |
| Change in Other Net Operating Assets | -78.16M | -54.20M | -46.45M | -20.03M | -60.66M | -14.68M |
| Operating Cash Flow | 1.67B | 1.42B | 1.09B | 911.34M | 780.47M | 764.46M |
| Capital Expenditures | -26.69M | -29.13M | -20.52M | -26.20M | -13.51M | -14.21M |
| Cash Acquisitions | -81.83M | -7.78M | ||||
| Investment in Securities | -1.01B | -1.08B | -679.62M | -1.05B | -994.17M | -324.16M |
| Investing Cash Flow | -1.12B | -1.10B | -700.14M | -1.08B | -1.01B | -346.15M |
| Long-Term Debt Repaid | -384.00K | |||||
| Net Debt Issued (Repaid) | -384.00K | |||||
| Issuance of Common Stock | 88.71M | 253.86M | 105.54M | 62.69M | 43.65M | 51.54M |
| Repurchase of Common Stock | -755.95M | -263.20M | -79.42M | -78.88M | -63.03M | -55.29M |
| Financing Cash Flow | -667.24M | -9.33M | 26.11M | -16.19M | -19.38M | -4.14M |
| Foreign Exchange Rate Adjustments | -1.28M | 919.00K | -1.74M | -1.78M | -4.99M | -4.66M |
| Net Cash Flow | -118.29M | 302.45M | 414.29M | -182.98M | -251.57M | 409.51M |
| Free Cash Flow | 1.64B | 1.39B | 1.07B | 885.14M | 766.96M | 750.25M |
| Free Cash Flow Margin | 47.39% | 43.38% | 38.94% | 37.45% | 35.59% | 40.54% |
| Free Cash Flow Per Share | 9.85 | 8.30 | 6.47 | 5.41 | 4.72 | 4.62 |
| Levered Free Cash Flow | 1.26B | 1.05B | 942.78M | 751.96M | 706.64M | 631.55M |
| Unlevered Free Cash Flow | 1.26B | 1.05B | 942.78M | 751.96M | 706.64M | 631.55M |
| Cash Income Tax Paid | 254.82M | 229.97M | 322.05M | 134.47M | 167.95M | 58.63M |
| Change in Working Capital | 28.90M | -91.94M | 7.62M | 60.82M | 7.34M | 20.66M |
Ratios
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 50.67B | 33.52B | 37.87B | 33.40B | 26.55B | 36.37B |
| Enterprise Value | 43.58B | 26.97B | 32.88B | 29.51B | 23.59B | 34.08B |
| Last Close Price | 312.96 | 203.92 | 233.26 | 207.41 | 170.55 | 236.54 |
| PE Ratio | 51.31 | 36.88 | 53.03 | 63.53 | 54.44 | 85.10 |
| Forward PE | 32.42 | 24.49 | 34.59 | 38.48 | 39.11 | 61.30 |
| PS Ratio | 14.65 | 10.49 | 13.79 | 14.13 | 12.32 | 19.65 |
| PB Ratio | 6.82 | 4.65 | 6.49 | 7.19 | 7.14 | 12.49 |
| P/TBV Ratio | 7.36 | 4.97 | 7.08 | 8.06 | 8.31 | 15.35 |
| P/FCF Ratio | 30.92 | 24.18 | 35.41 | 37.73 | 34.62 | 48.48 |
| P/OCF Ratio | 30.42 | 23.69 | 34.74 | 36.65 | 34.02 | 47.58 |
| PEG Ratio | 0.93 | 1.30 | 1.78 | 1.80 | 2.04 | 3.94 |
| EV/Sales Ratio | 12.60 | 8.44 | 11.97 | 12.49 | 10.95 | 18.41 |
| EV/EBITDA Ratio | 40.53 | 27.39 | 44.68 | 63.88 | 48.32 | 63.94 |
| EV/EBIT Ratio | 42.11 | 28.48 | 47.21 | 68.74 | 51.39 | 67.41 |
| EV/FCF Ratio | 26.59 | 19.46 | 30.74 | 33.34 | 30.76 | 45.42 |
| Debt / Equity Ratio | 0.02 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 |
| Debt / EBITDA Ratio | 0.14 | 0.10 | 0.10 | 0.12 | 0.12 | 0.10 |
| Debt / FCF Ratio | 0.09 | 0.07 | 0.07 | 0.06 | 0.08 | 0.07 |
| Net Debt / Equity Ratio | -0.95 | -0.90 | -0.87 | -0.85 | -0.82 | -0.80 |
| Net Debt / EBITDA Ratio | -6.59 | -6.56 | -6.90 | -8.60 | -6.23 | -4.36 |
| Net Debt / FCF Ratio | -4.33 | -4.66 | -4.75 | -4.49 | -3.97 | -3.09 |
| Asset Turnover | 0.41 | 0.39 | 0.41 | 0.44 | 0.50 | 0.54 |
| Quick Ratio | 5.36 | 4.81 | 4.44 | 4.17 | 3.86 | 3.65 |
| Current Ratio | 5.46 | 4.88 | 4.51 | 4.24 | 3.94 | 3.70 |
| Return on Equity (ROE) | 14.42% | 13.93% | 13.63% | 12.57% | 14.72% | 16.51% |
| Return on Assets (ROA) | 7.58% | 7.25% | 6.57% | 5.01% | 6.66% | 9.21% |
| Return on Invested Capital (ROIC) | 95.58% | 75.62% | 56.97% | 69.55% | 67.15% | |
| Return on Capital Employed (ROCE) | 13.60% | 12.90% | 11.70% | 9.10% | 12.10% | 17.00% |
| Earnings Yield | 1.95% | 2.71% | 1.89% | 1.57% | 1.84% | 1.18% |
| FCF Yield | 3.23% | 4.13% | 2.82% | 2.65% | 2.89% | 2.06% |
| Buyback Yield / Dilution | 0.14% | -1.07% | -1.07% | -0.65% | -0.10% | -0.96% |