VEEV

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Veeva Systems Inc. Class A

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Key Metrics

Previous Close: $251.00
52-Week Range: $148.05 – $310.50
Market Cap: $40.70B
P/E (TTM): 44.42
EPS (TTM): 5.64
Dividend Yield: —

Advanced Metrics

Price/Book: 5.59
PEG Ratio: 1.13
Return on Equity: 13.93%
Return on Assets: 7.30%
Gross Margin: 75.02%
Operating Margin: 30.93%
Profit Margin: 28.37%
Current Ratio: 4.74
Debt/Equity: 0.01
Total Debt: $103.07M
Free Cash Flow: $1.26B
Revenue Growth: 16.30%
Earnings Growth: 14.60%
Enterprise Value: $33.49B

VEEV Income statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Revenue	$2.16B	$2.36B	$2.75B	$3.20B
Cost of Revenue	$609.40M	$677.29M	$699.64M	$782.02M
Gross Profit	$1.55B	$1.69B	$2.05B	$2.41B
Research & Development	$520.28M	$629.03M	$693.08M	$767.39M
Selling, General & Admin	$566.29M	$628.02M	$662.47M	$729.54M
Operating Expenses	$1.09B	$1.26B	$1.36B	$1.50B
Operating Income	$459.09M	$429.33M	$691.43M	$916.37M
EBITDA	$488.21M	$461.96M	$730.82M	$954.34M
Pretax Income	$509.10M	$588.02M	$919.38M	$1.19B
Income Tax	$21.39M	$62.32M	$205.24M	$285.60M
Net Income	$487.71M	$525.71M	$714.14M	$908.91M
Diluted EPS	3.00	3.22	4.32	5.44
Diluted Shares	162.44M	163.49M	165.23M	167.00M

VEEV Balance Sheet statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$886.47M	$703.49M	$1.12B	$1.42B
Receivables	$785.23M	$888.54M	$1.06B	$1.31B
Current Assets	$3.97B	$5.00B	$6.31B	$8.00B
Total Assets	$4.80B	$5.91B	$7.34B	$8.98B
Current Liabilities	$1.01B	$1.18B	$1.40B	$1.64B
Total Debt	$60.98M	$55.77M	$75.78M	$95.86M
Total Liabilities	$1.09B	$1.27B	$1.51B	$1.76B
Retained Earnings	$2.21B	$2.74B	$3.45B	$4.36B
Shareholders' Equity	$3.72B	$4.64B	$5.83B	$7.21B
Working Capital	$2.96B	$3.82B	$4.91B	$6.36B

VEEV Cash Flow statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	$780.47M	$911.34M	$1.09B	$1.42B
Free Cash Flow	$780.47M	$911.34M	$1.09B	$1.42B
Depreciation & Amortisation	$29.12M	$32.63M	$39.38M	$37.97M
Stock-Based Compensation	$351.91M	$393.73M	$437.35M	$472.70M
Investing Cash Flow	-$1.01B	-$1.08B	-$700.14M	-$1.10B
Financing Cash Flow	-$19.38M	-$16.19M	$26.11M	-$9.33M
Share Repurchases	—	$0.00	$0.00	-$169.95M
Net Change in Cash	-$246.59M	-$181.20M	$416.03M	$301.53M

VEEV Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$759.04M	$789.08M	$811.24M	$835.95M	$882.95M
Cost of Revenue	$173.82M	$195.25M	$199.47M	$213.48M	$220.92M
Gross Profit	$585.22M	$593.83M	$611.77M	$622.47M	$662.02M
Research & Development	$184.03M	$192.68M	$191.88M	$198.79M	$208.32M
Selling, General & Admin	$167.45M	$205.24M	$179.03M	$177.81M	$180.59M
Operating Expenses	$351.49M	$397.92M	$370.92M	$376.60M	$388.91M
Operating Income	$233.73M	$195.91M	$240.85M	$245.88M	$273.11M
EBITDA	$243.55M	$206.03M	$250.56M	$254.19M	$284.70M
Pretax Income	$298.82M	$265.36M	$312.79M	$317.54M	$347.53M
Income Tax	$70.63M	$65.06M	$76.58M	$73.33M	$86.59M
Net Income	$228.19M	$200.31M	$236.20M	$244.20M	$260.94M
Diluted EPS	1.37	1.19	1.40	1.45	1.57
Diluted Shares	166.23M	167.69M	168.94M	168.26M	165.99M

VEEV Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$1.96B	$1.93B	$1.66B	$1.42B	$1.90B
Receivables	$541.28M	$472.42M	$371.78M	$1.31B	$627.77M
Current Assets	$6.71B	$6.99B	$7.11B	$8.00B	$8.06B
Total Assets	$7.77B	$8.00B	$8.10B	$8.98B	$9.13B
Current Liabilities	$1.46B	$1.26B	$944.88M	$1.64B	$1.70B
Total Debt	$77.23M	$85.45M	$89.80M	$95.86M	$103.07M
Total Liabilities	$1.55B	$1.36B	$1.06B	$1.76B	$1.83B
Retained Earnings	$3.68B	$3.88B	$4.12B	$4.36B	$4.62B
Shareholders' Equity	$6.21B	$6.64B	$7.04B	$7.21B	$7.30B
Working Capital	$5.25B	$5.74B	$6.17B	$6.36B	$6.36B

VEEV Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$877.16M	$238.43M	$192.79M	$106.85M	$1.13B
Free Cash Flow	$877.16M	$238.43M	$192.79M	$106.85M	$1.13B
Depreciation & Amortisation	$9.82M	$10.13M	$9.71M	$8.32M	$11.59M
Stock-Based Compensation	$112.21M	$121.97M	$120.27M	$118.26M	$119.26M
Investing Cash Flow	-$52.11M	-$389.27M	-$495.23M	-$167.75M	-$388.71M
Financing Cash Flow	$20.38M	$115.69M	$32.65M	-$178.05M	-$262.53M
Share Repurchases	$0.00	—	—	—	-$226.95M
Net Change in Cash	$845.43M	-$35.15M	-$269.80M	-$238.95M	$475.88M

Market Snapshot

About

Veeva Systems is a leading provider of cloud-based software solutions for the global life sciences industry. The company offers applications for customer relationship management, content management, data management, and regulatory compliance. Veeva serves pharmaceutical, biotechnology, and medical device companies worldwide.