VEEVA SYSTEMS INC VEEV
Veeva is the leading provider of industry cloud solutions for the global life sciences industry. Our offerings span cloud software, data, and business consulting and are designed to meet the unique needs of our customers and their most strategic business functions—from research and development ("R&D") through commercialization. Our solutions help life sciences companies develop and bring products to market faster and more efficiently, market and sell more effectively, and maintain compliance with government regulations. Our goal is to become the most strategic software, data, and business consulting partner to the life sciences industry, supporting the industry's most critical drug development, quality and manufacturing, and commercialization functions.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.20B | $2.75B | $2.36B | $2.16B | $1.85B | $1.47B | $1.10B | $862.2M | $690.6M | $550.5M |
| Cost of revenue | $782.0M | $699.6M | $677.3M | $609.4M | $503.7M | $408.9M | $303.4M | $245.3M | $211.4M | $173.7M |
| Gross profit | $2.41B | $2.05B | $1.69B | $1.55B | $1.35B | $1.06B | $800.7M | $616.9M | $479.1M | $376.9M |
| R&D | $767.4M | $693.1M | $629.0M | $520.3M | $382.0M | $294.2M | $209.9M | $158.8M | $132.0M | $96.7M |
| SG&A | $300.7M | $265.7M | $246.5M | $217.6M | $171.5M | $149.1M | $114.3M | $86.4M | $60.4M | $48.8M |
| Total operating expenses | $1.50B | $1.36B | $1.26B | $1.09B | $841.6M | $678.3M | $514.5M | $394.1M | $321.2M | $256.2M |
| Operating income | $916.4M | $691.4M | $429.3M | $459.1M | $505.5M | $377.8M | $286.2M | $222.9M | $157.9M | $120.7M |
| Pre-tax income | $1.19B | $919.4M | $588.0M | $509.1M | $512.3M | $394.0M | $313.7M | $238.6M | $165.8M | $122.4M |
| Income tax | $285.6M | $205.2M | $62.3M | $21.4M | $84.9M | $14.0M | $12.6M | $8.8M | $14.6M | $44.8M |
| Net income | $908.9M | $714.1M | $525.7M | $487.7M | $427.4M | $380.0M | $301.1M | $229.8M | $151.2M | $77.6M |
| EPS, basic | 5.55 | 4.41 | 3.27 | 3.14 | 2.79 | 2.52 | 2.04 | 1.59 | 1.08 | 0.57 |
| EPS, diluted | 5.44 | 4.32 | 3.22 | 3.00 | 2.63 | 2.36 | 1.90 | 1.47 | 0.98 | 0.53 |
| Shares, diluted (wtd. avg.) | $167.0M | $165.2M | $163.5M | $162.4M | $162.3M | $160.7M | $158.3M | $156.1M | $153.7M | $147.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.42B | $1.12B | $703.5M | $889.6M | $1.14B | $731.7M | $479.8M | $552.2M | $321.4M | $218.6M |
| Short-term investments | $5.14B | $4.03B | $3.32B | $2.22B | $1.24B | $933.1M | $610.0M | $539.2M | $441.8M | — |
| Receivables | $1.26B | $1.02B | $852.2M | $703.1M | $631.1M | $564.4M | $389.7M | $303.5M | $224.7M | $182.8M |
| Total current assets | $8.00B | $6.31B | $5.00B | $3.97B | $3.11B | $2.31B | $1.53B | $1.43B | $1.01B | $711.9M |
| Property, plant and equipment | $70.3M | $55.9M | $58.5M | $49.8M | $54.5M | $53.6M | $54.8M | $55.0M | $52.3M | $49.9M |
| Goodwill | $439.9M | $439.9M | $439.9M | $439.9M | $439.9M | $436.0M | $438.5M | $95.8M | $95.8M | $95.8M |
| Other intangibles | $30.3M | $44.5M | $63.0M | $82.5M | $101.9M | $114.6M | $134.6M | $24.5M | $31.5M | $39.3M |
| Total assets | $8.98B | $7.34B | $5.91B | $4.80B | $3.82B | $3.05B | $2.27B | $1.65B | $1.23B | $917.4M |
| Accounts payable | $37.6M | $30.4M | $31.5M | $41.7M | $20.3M | $23.3M | $19.4M | $9.1M | $6.9M | $5.7M |
| Total current liabilities | $1.64B | $1.40B | $1.18B | $1.01B | $840.8M | $716.0M | $551.2M | $401.0M | $306.2M | $246.8M |
| Total liabilities | $1.76B | $1.51B | $1.27B | $1.09B | $904.8M | $779.7M | $606.2M | $416.0M | $324.1M | $264.7M |
| Retained earnings | $4.36B | $3.45B | $2.74B | $2.21B | $1.73B | $1.30B | $919.7M | $619.2M | $389.4M | $212.9M |
| Total equity | $7.21B | $5.83B | $4.64B | $3.72B | $2.91B | $2.27B | $1.67B | $1.24B | $906.2M | $678.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.42B | $1.09B | $911.3M | $780.5M | $764.5M | $551.2M | $437.4M | $310.8M | $233.4M | $144.0M |
| Depreciation and amortisation | — | — | $6.0M | $6.0M | $7.0M | $9.0M | $9.0M | $6.0M | $5.9M | $4.9M |
| Stock-based compensation | $472.7M | $437.4M | $393.7M | $351.9M | $234.6M | $185.0M | $115.9M | $76.4M | — | — |
| Capital expenditure | — | — | — | — | — | — | $3.1M | $8.4M | $9.6M | $6.9M |
| Investing cash flow | -$1.10B | -$700.1M | -$1.08B | -$1.01B | -$346.2M | -$333.6M | -$516.9M | -$103.9M | -$154.5M | -$96.8M |
| Financing cash flow | -$9.3M | $26.1M | -$16.2M | -$19.4M | -$4.1M | $33.8M | $10.0M | $25.9M | $20.8M | $38.0M |
| Buybacks | $169.9M | $0 | $0 | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-018796.
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