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Veeva Systems

VEEV Clue Score76
United States Fiscal year ends January CIK 0001393052
$296.13 +3.96% Close, 9 Oct 2026
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Price $296.13 +4.20% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue550.5Operating income120.7Net income77.6EPS, diluted0.53Fiscal year 2018Revenue690.6 +25.4%Operating income157.9Net income151.2 +94.9%EPS, diluted0.98 +84.9%Fiscal year 2019Revenue862.2 +24.9%Operating income222.9Net income229.8 +52.0%EPS, diluted1.47 +50.0%Fiscal year 2020Revenue1,104.1 +28.1%Operating income286.2Net income301.1 +31.0%EPS, diluted1.90 +29.3%Fiscal year 2021Revenue1,465.1 +32.7%Operating income377.8Net income380.0 +26.2%EPS, diluted2.36 +24.2%Fiscal year 2022Revenue1,850.8 +26.3%Operating income505.5Net income427.4 +12.5%EPS, diluted2.63 +11.4%Fiscal year 2023Revenue2,155.1 +16.4%Operating income459.1Net income487.7 +14.1%EPS, diluted3.00 +14.1%Fiscal year 2024Revenue2,363.7 +9.7%Operating income429.3Net income525.7 +7.8%EPS, diluted3.22 +7.3%Fiscal year 2025Revenue2,746.6 +16.2%Operating income691.4Net income714.1 +35.8%EPS, diluted4.32 +34.2%Fiscal year 2026Revenue3,195.3 +16.3%Operating income916.4Net income908.9 +27.3%EPS, diluted5.44 +25.9%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 550.5 690.6 862.2 1,104.1 1,465.1 1,850.8 2,155.1 2,363.7 2,746.6 3,195.3
Growth +25.4% +24.9% +28.1% +32.7% +26.3% +16.4% +9.7% +16.2% +16.3%
Operating income 120.7 157.9 222.9 286.2 377.8 505.5 459.1 429.3 691.4 916.4
Net income 77.6 151.2 229.8 301.1 380.0 427.4 487.7 525.7 714.1 908.9
Growth +94.9% +52.0% +31.0% +26.2% +12.5% +14.1% +7.8% +35.8% +27.3%
EPS, diluted 0.53 0.98 1.47 1.90 2.36 2.63 3.00 3.22 4.32 5.44
Growth +84.9% +50.0% +29.3% +24.2% +11.4% +14.1% +7.3% +34.2% +25.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin68.5%Operating margin21.9%Net margin14.1%Free cash flow margin24.9%Fiscal year 2018Gross margin69.4%Operating margin22.9%Net margin21.9%Free cash flow margin32.4%Fiscal year 2019Gross margin71.6%Operating margin25.8%Net margin26.7%Free cash flow margin35.1%Fiscal year 2020Gross margin72.5%Operating margin25.9%Net margin27.3%Free cash flow margin39.3%Fiscal year 2021Gross margin72.1%Operating margin25.8%Net margin25.9%Fiscal year 2022Gross margin72.8%Operating margin27.3%Net margin23.1%Fiscal year 2023Gross margin71.7%Operating margin21.3%Net margin22.6%Fiscal year 2024Gross margin71.3%Operating margin18.2%Net margin22.2%Fiscal year 2025Gross margin74.5%Operating margin25.2%Net margin26.0%Fiscal year 2026Gross margin75.5%Operating margin28.7%Net margin28.4%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 68.5% 69.4% 71.6% 72.5% 72.1% 72.8% 71.7% 71.3% 74.5% 75.5%
Operating margin 21.9% 22.9% 25.8% 25.9% 25.8% 27.3% 21.3% 18.2% 25.2% 28.7%
Net margin 14.1% 21.9% 26.7% 27.3% 25.9% 23.1% 22.6% 22.2% 26.0% 28.4%
Free cash flow margin 24.9% 32.4% 35.1% 39.3% n/a n/a n/a n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow144.0Capital expenditure−6.9Free cash flow137.1Fiscal year 2018Operating cash flow233.4Capital expenditure−9.6Free cash flow223.8 +63.3%Fiscal year 2019Operating cash flow310.8Capital expenditure−8.4Free cash flow302.4 +35.1%Fiscal year 2020Operating cash flow437.4Capital expenditure−3.1Free cash flow434.3 +43.6%Fiscal year 2021Operating cash flow551.2Fiscal year 2022Operating cash flow764.5Fiscal year 2023Operating cash flow780.5Fiscal year 2024Operating cash flow911.3Buybacks0.0Fiscal year 2025Operating cash flow1,090.1Buybacks0.0Fiscal year 2026Operating cash flow1,415.2Buybacks−169.9
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 144.0 233.4 310.8 437.4 551.2 764.5 780.5 911.3 1,090.1 1,415.2
Capital expenditure −6.9 −9.6 −8.4 −3.1 n/a n/a n/a n/a n/a n/a
Free cash flow 137.1 223.8 302.4 434.3 n/a n/a n/a n/a n/a n/a
Growth +63.3% +35.1% +43.6%
Buybacks n/a n/a n/a n/a n/a n/a n/a 0.0 0.0 −169.9

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2017Cash217.6Shareholders’ equity678.2Fiscal year 2018Cash320.2Shareholders’ equity906.2Fiscal year 2019Cash551.0Shareholders’ equity1,237.7Fiscal year 2020Cash476.7Shareholders’ equity1,665.6Fiscal year 2021Cash730.5Shareholders’ equity2,266.3Fiscal year 2022Cash1,138.0Shareholders’ equity2,911.6Fiscal year 2023Cash886.5Shareholders’ equity3,716.3Fiscal year 2024Cash703.5Shareholders’ equity4,644.8Fiscal year 2025Cash1,118.8Shareholders’ equity5,832.4Fiscal year 2026Cash1,421.2Shareholders’ equity7,214.8
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 217.6 320.2 551.0 476.7 730.5 1,138.0 886.5 703.5 1,118.8 1,421.2
Shareholders’ equity 678.2 906.2 1,237.7 1,665.6 2,266.3 2,911.6 3,716.3 4,644.8 5,832.4 7,214.8

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending January, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Jan 2017 FY2018 31 Jan 2018 FY2019 31 Jan 2019 FY2020 31 Jan 2020 FY2021 31 Jan 2021 FY2022 31 Jan 2022 FY2023 31 Jan 2023 FY2024 31 Jan 2024 FY2025 31 Jan 2025 FY2026 31 Jan 2026
Revenue and profit
550.5 690.6 862.2 1,104.1 1,465.1 1,850.8 2,155.1 2,363.7 2,746.6 3,195.3
Growth +25.4% +24.9% +28.1% +32.7% +26.3% +16.4% +9.7% +16.2% +16.3%
173.7 211.4 245.3 303.4 408.9 503.7 609.4 677.3 699.6 782.0
376.9 479.1 616.9 800.7 1,056.1 1,347.1 1,545.7 1,686.4 2,047.0 2,413.3
Growth +27.1% +28.8% +29.8% +31.9% +27.5% +14.7% +9.1% +21.4% +17.9%
96.7 132.0 158.8 209.9 294.2 382.0 520.3 629.0 693.1 767.4
48.8 60.4 86.4 114.3 149.1 171.5 217.6 246.5 265.7 300.7
120.7 157.9 222.9 286.2 377.8 505.5 459.1 429.3 691.4 916.4
Growth +30.9% +41.1% +28.4% +32.0% +33.8% −9.2% −6.5% +61.0% +32.5%
122.4 165.8 238.6 313.7 394.0 512.3 509.1 588.0 919.4 1,194.5
44.8 14.6 8.8 12.6 14.0 84.9 21.4 62.3 205.2 285.6
77.6 151.2 229.8 301.1 380.0 427.4 487.7 525.7 714.1 908.9
Growth +94.9% +52.0% +31.0% +26.2% +12.5% +14.1% +7.8% +35.8% +27.3%
Per share
0.57 1.08 1.59 2.04 2.52 2.79 3.14 3.27 4.41 5.55
0.53 0.98 1.47 1.90 2.36 2.63 3.00 3.22 4.32 5.44
Growth +84.9% +50.0% +29.3% +24.2% +11.4% +14.1% +7.3% +34.2% +25.9%
135.7 140.3 144.2 147.8 150.7 153.3 155.4 160.5 161.9 163.7
147.6 153.7 156.1 158.3 160.7 162.3 162.4 163.5 165.2 167.0
Growth +4.1% +1.6% +1.4% +1.5% +1.0% +0.1% +0.6% +1.1% +1.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 16.9% a year over five years, and earnings per share grew 18.2% a year.
  • The diluted share count rose 3.9% in five years, which is dilution.
  • Operating margin is up 2.9 points on five years ago, at 28.7%.
  • Profitable in every one of the 10 years on file.