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Veeva Systems (VEEV) Financials

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$223.91 +5.91 (+2.71%)
As of 03:58 PM Eastern
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Annual Income Statements for Veeva Systems

Annual Income Statements for Veeva Systems

This table shows Veeva Systems' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Net Income / (Loss) Attributable to Common Shareholders		 40 54 78 151 230 301 380 427 488 526 714
Consolidated Net Income / (Loss)		 40 54 78 151 230 301 380 427 488 526 714
Net Income / (Loss) Continuing Operations		 40 54 78 151 230 301 380 427 488 526 714
Total Pre-Tax Income 		67 79 122 166 239 314 394 512 509 588 919
Total Operating Income		 70 79 121 158 223 286 378 505 459 429 691
Total Gross Profit		 198 267 377 479 617 801 1,056 1,347 1,546 1,686 2,047
Total Revenue		 313 409 551 691 862 1,104 1,465 1,851 2,155 2,364 2,747
Operating Revenue		 313 409 551 691 862 1,104 1,465 1,851 2,155 2,364 2,747
Total Cost of Revenue		 116 142 174 211 245 303 409 504 609 677 700
Operating Cost of Revenue		 116 142 174 211 245 303 409 504 609 677 700
Total Operating Expenses		 128 188 256 321 394 514 678 842 1,087 1,257 1,356
Selling, General & Admin Expense		 30 41 49 60 86 114 149 172 218 247 266
Marketing Expense		 56 81 111 129 149 190 235 288 349 381 397
Research & Development Expense		 41 66 97 132 159 210 294 382 520 629 693
Total Other Income / (Expense), net		 -2.78 0.03 1.67 7.84 16 27 16 6.82 50 159 228
Other Income / (Expense), net		 -2.78 0.03 1.67 7.84 16 27 16 6.82 50 159 228
Income Tax Expense		 27 24 45 15 8.81 13 14 85 21 62 205
Basic Earnings per Share		 $0.31 $0.41 $0.57 $1.08 $1.59 $2.04 $2.52 $2.79 $3.14 $3.27 $4.41
Weighted Average Basic Shares Outstanding		 127.71M 132.02M 135.70M 140.31M 144.24M 147.80M 150.67M 153.25M 155.39M 160.53M 161.88M
Diluted Earnings per Share		 $0.28 $0.38 $0.53 $0.98 $1.47 $1.90 $2.36 $2.63 $3.00 $3.22 $4.32
Weighted Average Diluted Shares Outstanding		 144.20M 144.98M 147.58M 153.68M 156.12M 158.30M 160.73M 162.28M 162.44M 163.49M 165.23M
Weighted Average Basic & Diluted Shares Outstanding		 130.30M 132.80M 134.90M 140M 144.50M 149.26M 154.36M - 159.81M 161.32M 162.70M

Quarterly Income Statements for Veeva Systems

This table shows Veeva Systems' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Net Income / (Loss) Attributable to Common Shareholders		 91 108 189 132 112 135 147 162 171 186 196
Consolidated Net Income / (Loss)		 91 108 189 132 112 135 147 162 171 186 196
Net Income / (Loss) Continuing Operations		 91 108 189 132 112 135 147 162 171 186 196
Total Pre-Tax Income 		109 134 135 92 143 171 183 207 225 242 245
Total Operating Income		 101 121 109 62 104 128 135 155 166 181 188
Total Gross Profit		 383 398 399 360 421 449 457 476 506 525 540
Total Revenue		 534 552 563 526 590 617 631 650 676 699 721
Operating Revenue		 534 552 563 526 590 617 631 650 676 699 721
Total Cost of Revenue		 152 154 164 167 169 168 174 174 170 174 181
Operating Cost of Revenue		 152 154 164 167 169 168 174 174 170 174 181
Total Operating Expenses		 281 277 290 298 317 320 321 321 339 343 351
Selling, General & Admin Expense		 58 53 59 63 63 62 59 61 61 72 71
Marketing Expense		 90 94 89 89 97 97 99 97 102 99 99
Research & Development Expense		 134 130 143 147 157 161 164 163 176 172 182
Total Other Income / (Expense), net		 8.40 12 26 30 39 42 47 52 59 61 57
Other Income / (Expense), net		 8.40 12 26 30 39 42 47 52 59 61 57
Income Tax Expense		 19 25 -53 -40 31 36 35 45 54 56 50
Basic Earnings per Share		 $0.58 $0.70 $1.21 $0.82 $0.70 $0.84 $0.91 $1.00 $1.06 $1.15 $1.20
Weighted Average Basic Shares Outstanding		 154.95M 155.39M 155.39M 159.85M 160.40M 160.77M 160.53M 161.42M 161.71M 161.99M 161.88M
Diluted Earnings per Share		 $0.56 $0.67 $1.15 $0.81 $0.68 $0.83 $0.90 $0.98 $1.04 $1.13 $1.17
Weighted Average Diluted Shares Outstanding		 162.13M 162.30M 162.44M 162.52M 163.28M 163.76M 163.49M 164.39M 164.56M 164.98M 165.23M
Weighted Average Basic & Diluted Shares Outstanding		 - - 159.81M 160.22M 160.66M 161.02M 161.32M 161.65M 161.93M 162.35M 162.70M

Annual Cash Flow Statements for Veeva Systems

This table details how cash moves in and out of Veeva Systems' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Net Change in Cash & Equivalents		 -133 2.93 85 100 233 -72 252 410 -252 -183 414
Net Cash From Operating Activities		 68 80 144 233 311 437 551 764 780 911 1,090
Net Cash From Continuing Operating Activities		 68 80 144 233 311 437 551 764 779 911 1,089
Net Income / (Loss) Continuing Operations		 40 54 78 151 230 301 380 427 488 526 714
Consolidated Net Income / (Loss)		 40 54 78 151 230 301 380 427 488 526 714
Depreciation Expense		 3.93 8.46 14 14 14 20 29 27 29 33 39
Amortization Expense		 2.18 2.80 16 18 16 17 24 32 18 -8.34 -8.92
Non-Cash Adjustments To Reconcile Net Income		 15 24 38 50 72 109 180 230 345 451 445
Changes in Operating Assets and Liabilities, net		 6.53 -10 -1.33 0.21 -21 -10 -62 48 -101 -90 -100
Net Cash From Investing Activities		 -272 -97 -97 -155 -104 -517 -334 -346 -1,008 -1,076 -700
Net Cash From Continuing Investing Activities		 -272 -97 -97 -155 -104 -517 -334 -346 -1,008 -1,076 -700
Purchase of Property, Plant & Equipment		 -27 -22 -7.51 -11 -9.82 -4.32 -8.68 -14 -14 -26 -21
Purchase of Investments		 -402 -313 -315 -438 -726 -753 -979 -1,117 -1,997 -2,698 -2,582
Sale and/or Maturity of Investments		 157 365 226 295 632 688 654 793 1,003 1,648 1,902
Net Cash From Financing Activities		 71 19 38 21 26 10 34 -4.14 -19 -16 26
Net Cash From Continuing Financing Activities		 71 19 38 21 26 10 34 -4.14 -19 -16 26
Other Financing Activities, net		 65 19 38 21 26 10 34 -4.14 -19 -16 26
Effect of Exchange Rate Changes		 -0.07 0.05 - - - -2.86 0.48 -4.66 -4.99 -1.78 -1.74
Cash Income Taxes Paid		 1.52 20 14 12 20 14 18 59 168 134 322

Quarterly Cash Flow Statements for Veeva Systems

This table details how cash moves in and out of Veeva Systems' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Net Change in Cash & Equivalents		 -100 -275 21 207 -351 1.10 -40 494 -32 -121 74
Net Cash From Operating Activities		 93 143 63 506 265 83 58 764 93 164 70
Net Cash From Continuing Operating Activities		 93 143 62 506 265 83 58 764 93 162 71
Net Income / (Loss) Continuing Operations		 91 108 189 132 112 135 147 162 171 186 196
Consolidated Net Income / (Loss)		 91 108 189 132 112 135 147 162 171 186 196
Depreciation Expense		 7.23 7.16 7.68 7.55 8.09 8.36 8.63 8.50 11 9.93 9.93
Amortization Expense		 5.23 3.81 2.38 1.65 -3.13 -4.97 -1.88 -2.38 -4.22 -5.49 3.18
Non-Cash Adjustments To Reconcile Net Income		 85 93 96 138 106 98 109 97 110 24 214
Changes in Operating Assets and Liabilities, net		 -95 -70 -233 227 42 -154 -205 499 -195 -52 -352
Net Cash From Investing Activities		 -184 -406 -39 -297 -619 -73 -87 -272 -114 -298 -16
Net Cash From Continuing Investing Activities		 -184 -406 -39 -297 -619 -73 -87 -272 -114 -298 -16
Purchase of Property, Plant & Equipment		 -1.66 -5.61 -3.91 -2.96 -9.59 -5.91 -7.74 -8.48 -3.05 -4.27 -4.72
Purchase of Investments		 -433 -711 -281 -612 -988 -542 -556 -778 -614 -814 -375
Sale and/or Maturity of Investments		 251 311 245 318 379 474 477 514 504 520 364
Net Cash From Financing Activities		 -7.88 -11 -2.24 -1.39 2.58 -6.89 -10 3.83 -11 13 21
Net Cash From Continuing Financing Activities		 -7.88 -11 -2.24 -1.39 2.58 -6.89 -10 3.83 -11 13 21
Other Financing Activities, net		 -7.88 -11 -2.24 -1.39 2.58 -6.89 -10 3.83 -11 13 21
Effect of Exchange Rate Changes		 -1.05 -1.48 -0.59 0.02 0.29 -1.28 -0.81 -1.26 0.01 -0.09 -0.39
Cash Income Taxes Paid		 90 2.94 57 1.03 6.23 94 34 4.23 159 76 83

Annual Balance Sheets for Veeva Systems

This table presents Veeva Systems' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Total Assets		 545 706 917 1,230 1,654 2,272 3,816 3,816 4,804 5,911 7,340
Total Current Assets		 502 501 712 1,012 1,433 1,531 3,107 3,107 3,969 5,003 6,309
Cash & Equivalents		 129 132 218 320 551 477 1,138 1,138 886 703 1,119
Short-Term Investments		 269 214 301 442 539 610 1,238 1,238 2,216 3,324 4,031
Accounts Receivable		 93 145 183 238 322 423 694 694 785 889 1,057
Prepaid Expenses		 6.49 9.96 10 12 22 22 37 37 81 87 101
Plant, Property, & Equipment, net		 28 47 50 52 55 55 54 54 50 59 56
Total Noncurrent Assets		 15 157 156 166 165 686 655 655 785 849 975
Goodwill		 4.85 96 96 96 96 439 440 440 440 440 440
Intangible Assets		 6.14 48 39 31 25 135 102 102 82 63 44
Noncurrent Deferred & Refundable Income Taxes		 - 9.36 16 2.22 5.94 12 5.10 5.10 137 233 344
Other Noncurrent Operating Assets		 3.86 4.70 4.06 36 39 101 108 108 126 113 147
Total Liabilities & Shareholders' Equity		 545 706 917 1,230 1,654 2,272 3,816 3,816 4,804 5,911 7,340
Total Liabilities		 138 201 265 324 416 606 905 905 1,088 1,266 1,507
Total Current Liabilities		 136 186 247 306 401 551 841 841 1,007 1,179 1,398
Accounts Payable		 3.89 4.60 5.68 6.94 9.11 19 20 20 42 32 30
Accrued Expenses		 8.94 11 12 13 16 22 36 36 35 33 36
Current Deferred Revenue		 113 157 214 267 356 469 732 732 869 1,050 1,274
Current Deferred & Payable Income Tax Liabilities		 3.24 0.75 3.23 2.08 4.09 5.61 7.76 7.76 4.95 12 9.02
Current Employee Benefit Liabilities		 6.50 12 12 17 15 26 34 34 44 43 39
Other Current Liabilities		 - - - - - 10 11 11 11 9.33 9.97
Total Noncurrent Liabilities		 2.53 14 18 18 15 55 64 64 81 87 109
Noncurrent Deferred & Payable Income Tax Liabilities		 0.17 11 13 11 6.10 2.42 2.22 2.22 1.49 2.05 0.59
Other Noncurrent Operating Liabilities		 2.36 3.65 4.96 6.98 8.90 53 62 62 80 85 108
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 407 505 653 906 1,238 1,666 2,912 2,912 3,716 4,645 5,832
Total Preferred & Common Equity		 407 505 653 906 1,238 1,666 2,912 2,912 3,716 4,645 5,832
Total Common Equity		 407 505 653 906 1,238 1,666 2,912 2,912 3,716 4,645 5,832
Common Stock		 318 362 440 515 618 745 1,197 1,197 1,533 1,915 2,386
Retained Earnings		 89 143 213 389 619 920 1,727 1,727 2,215 2,740 3,455
Accumulated Other Comprehensive Income / (Loss)		 0.03 0.17 0.11 1.60 0.93 0.46 -12 -12 -31 -11 -8.42

Quarterly Balance Sheets for Veeva Systems

This table presents Veeva Systems' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Total Assets		 4,183 5,023 5,228 5,226 6,188 6,331 6,453
Total Current Assets		 3,386 4,188 4,362 4,336 5,245 5,368 5,447
Cash & Equivalents		 865 1,094 743 744 1,197 1,166 1,045
Short-Term Investments		 2,157 2,521 3,126 3,199 3,568 3,719 4,018
Accounts Receivable		 325 451 417 300 401 404 301
Prepaid Expenses		 39 122 76 93 79 79 83
Plant, Property, & Equipment, net		 51 50 57 58 58 57 56
Total Noncurrent Assets		 745 785 809 832 885 906 950
Goodwill		 440 440 440 440 440 440 440
Intangible Assets		 87 78 73 68 58 53 49
Noncurrent Deferred & Refundable Income Taxes		 99 156 184 218 266 291 323
Other Noncurrent Operating Assets		 119 111 112 106 120 122 139
Total Liabilities & Shareholders' Equity		 4,183 5,023 5,228 5,226 6,188 6,331 6,453
Total Liabilities		 764 1,080 1,076 846 1,298 1,146 951
Total Current Liabilities		 690 1,006 1,002 768 1,223 1,070 857
Accounts Payable		 41 44 50 36 32 28 32
Accrued Expenses		 33 32 32 33 41 33 31
Current Deferred Revenue		 510 870 837 644 1,029 956 740
Current Deferred & Payable Income Tax Liabilities		 54 4.62 24 6.56 72 5.62 11
Current Employee Benefit Liabilities		 40 44 48 38 39 37 35
Other Current Liabilities		 12 11 11 9.64 10 10 9.16
Total Noncurrent Liabilities		 74 74 74 78 75 76 94
Noncurrent Deferred & Payable Income Tax Liabilities		 1.55 1.41 1.28 1.15 0.71 0.59 0.48
Other Noncurrent Operating Liabilities		 72 73 72 77 74 75 94
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3,419 3,943 4,153 4,380 4,889 5,185 5,501
Total Preferred & Common Equity		 3,419 3,943 4,153 4,380 4,889 5,185 5,501
Total Common Equity		 3,419 3,943 4,153 4,380 4,889 5,185 5,501
Common Stock		 1,438 1,623 1,729 1,824 2,018 2,117 2,249
Retained Earnings		 2,026 2,346 2,458 2,593 2,902 3,073 3,259
Accumulated Other Comprehensive Income / (Loss)		 -46 -26 -34 -38 -31 -5.58 -6.46

Annual Metrics and Ratios for Veeva Systems

This table displays calculated financial ratios and metrics derived from Veeva Systems' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 49.05% 30.65% 34.53% 25.43% 24.86% 28.05% 32.70% 26.33% 16.44% 9.68% 16.20%
EBITDA Growth		 77.57% 22.64% 69.35% 30.13% 35.63% 30.57% 27.50% 27.91% -2.69% 9.99% 55.12%
EBIT Growth		 74.51% 17.01% 55.63% 35.48% 43.96% 31.45% 25.60% 30.03% -0.63% 15.50% 56.35%
NOPAT Growth		 74.44% 29.45% 40.55% 88.23% 49.03% 28.00% 32.62% 15.73% 4.29% -12.73% 39.92%
Net Income Growth		 71.01% 34.86% 42.44% 94.89% 52.03% 31.02% 26.20% 12.47% 14.11% 7.79% 35.84%
EPS Growth		 86.67% 35.71% 39.47% 84.91% 50.00% 29.25% 24.21% 11.44% 14.07% 7.33% 34.16%
Operating Cash Flow Growth		 61.84% 18.62% 79.67% 62.10% 33.15% 40.71% 26.04% 38.68% 2.09% 16.77% 19.61%
Free Cash Flow Firm Growth		 25.64% -481.70% 206.41% 31.20% 58.26% -174.06% 360.48% 3.44% -14.23% 5.16% 24.08%
Invested Capital Growth		 211.50% 1,675.07% -15.88% 7.84% 2.30% 292.20% -7.48% 0.00% 14.58% 0.56% 10.55%
Revenue Q/Q Growth		 8.38% 7.14% 8.34% 4.44% 5.68% 7.73% 6.18% -3.45% 7.45% 2.93% 3.40%
EBITDA Q/Q Growth		 13.91% -1.98% 40.83% -6.37% 10.82% 0.94% 9.70% 5.98% 1.50% 7.75% 7.81%
EBIT Q/Q Growth		 13.67% -5.09% 32.77% -2.05% 12.84% -1.09% 11.32% 6.36% 2.67% 8.75% 7.29%
NOPAT Q/Q Growth		 23.18% 6.87% 20.26% 4.98% 14.80% -1.44% 10.72% 8.15% 12.54% -9.15% 8.28%
Net Income Q/Q Growth		 21.26% 8.49% 19.92% 7.22% 15.30% -1.62% 10.70% 2.36% 18.46% -7.26% 7.24%
EPS Q/Q Growth		 21.74% 11.76% 15.22% 6.52% 14.84% -2.06% 10.80% 1.94% 18.11% -7.20% 6.67%
Operating Cash Flow Q/Q Growth		 -20.71% 6.46% -3.70% 1.53% 10.85% 1.68% 5.60% -1.84% 1.21% -0.61% 1.09%
Free Cash Flow Firm Q/Q Growth		 0.00% -0.44% -1.22% -22.32% 31.27% -151.90% 430.75% -17.25% -54.04% 2,634.03% -4.66%
Invested Capital Q/Q Growth		 176.85% 18.24% 40.68% 138.90% 70.86% 810.46% 3.80% 35.15% 0.00% 41.05% 55.59%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 63.07% 65.25% 68.45% 69.38% 71.55% 72.52% 72.09% 72.79% 71.72% 71.35% 74.53%
EBITDA Margin		 23.40% 21.96% 27.65% 28.68% 31.16% 31.77% 30.53% 30.91% 25.83% 25.91% 34.58%
Operating Margin		 22.34% 19.20% 21.92% 22.87% 25.85% 25.92% 25.79% 27.31% 21.30% 18.16% 25.17%
EBIT Margin		 21.45% 19.21% 22.22% 24.01% 27.68% 28.41% 26.89% 27.68% 23.62% 24.88% 33.47%
Profit (Net Income) Margin		 12.89% 13.31% 14.09% 21.89% 26.66% 27.27% 25.94% 23.09% 22.63% 22.24% 26.00%
Tax Burden Percent		 60.11% 69.27% 63.40% 91.20% 96.31% 95.99% 96.45% 83.42% 95.80% 89.40% 77.68%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 39.89% 30.73% 36.60% 8.80% 3.69% 4.01% 3.55% 16.58% 4.20% 10.60% 22.32%
Return on Invested Capital (ROIC)		 9,102.59% 64.81% 52.26% 103.59% 147.08% 75.64% 65.40% 78.74% 76.54% 62.38% 82.68%
ROIC Less NNEP Spread (ROIC-NNEP)		 9,103.07% 64.80% 52.02% 102.48% 145.44% 73.22% 64.49% 78.51% 74.79% 58.40% 78.82%
Return on Net Nonoperating Assets (RNNOA)		 -9,090.83% -52.87% -38.86% -84.20% -125.64% -54.90% -48.79% -64.07% -61.83% -49.80% -69.05%
Return on Equity (ROE)		 11.76% 11.94% 13.40% 19.40% 21.44% 20.74% 16.60% 14.68% 14.72% 12.58% 13.63%
Cash Return on Invested Capital (CROIC)		 279.66% -113.86% 69.51% 96.05% 144.81% -43.09% 73.17% 78.74% 62.95% 61.82% 72.66%
Operating Return on Assets (OROA)		 14.68% 12.57% 15.08% 15.44% 16.55% 15.98% 12.94% 13.42% 11.81% 10.98% 13.88%
Return on Assets (ROA)		 8.83% 8.71% 9.56% 14.08% 15.94% 15.34% 12.48% 11.20% 11.31% 9.81% 10.78%
Return on Common Equity (ROCE)		 11.76% 11.94% 13.40% 19.40% 21.44% 20.74% 16.60% 14.68% 14.72% 12.58% 13.63%
Return on Equity Simple (ROE_SIMPLE)		 9.93% 10.78% 11.89% 16.68% 18.57% 18.08% 13.05% 14.68% 13.12% 11.32% 12.24%
Net Operating Profit after Tax (NOPAT)		 42 54 77 144 215 275 364 422 440 384 537
NOPAT Margin		 13.43% 13.30% 13.90% 20.86% 24.89% 24.88% 24.87% 22.79% 20.41% 16.24% 19.55%
Net Nonoperating Expense Percent (NNEP)		 -0.49% 0.01% 0.24% 1.12% 1.64% 2.42% 0.90% 0.24% 1.75% 3.98% 3.86%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 11.83% 8.26% 9.21%
Cost of Revenue to Revenue		 36.93% 34.75% 31.55% 30.62% 28.45% 27.48% 27.91% 27.21% 28.28% 28.65% 25.47%
SG&A Expenses to Revenue		 9.65% 10.13% 8.86% 8.75% 10.02% 10.35% 10.18% 9.27% 10.10% 10.43% 9.68%
R&D to Revenue		 13.14% 16.12% 17.57% 19.12% 18.42% 19.01% 20.08% 20.64% 24.14% 26.61% 25.23%
Operating Expenses to Revenue		 40.74% 46.04% 46.53% 46.51% 45.70% 46.60% 46.30% 45.47% 50.42% 53.18% 49.35%
Earnings before Interest and Taxes (EBIT)		 67 79 122 166 239 314 394 512 509 588 919
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 73 90 152 198 269 351 447 572 557 612 950
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 9.23 6.34 8.90 9.80 12.80 13.08 14.38 12.49 7.15 7.19 6.49
Price to Tangible Book Value (P/TBV)		 9.49 8.86 11.22 11.41 14.18 19.94 17.67 15.35 8.31 8.06 7.08
Price to Revenue (P/Rev)		 11.99 7.83 10.55 12.87 18.38 19.73 28.58 19.65 12.32 14.13 13.79
Price to Earnings (P/E)		 93.01 58.85 74.85 58.77 68.95 72.34 110.19 85.10 54.44 63.53 53.03
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.08% 1.70% 1.34% 1.70% 1.45% 1.38% 0.91% 1.18% 1.84% 1.57% 1.89%
Enterprise Value to Invested Capital (EV/IC)		 374.78 17.98 39.52 56.30 99.98 35.76 73.75 63.48 38.22 47.59 47.97
Enterprise Value to Revenue (EV/Rev)		 10.72 6.99 9.60 11.76 17.11 18.75 26.96 18.37 10.88 12.42 11.91
Enterprise Value to EBITDA (EV/EBITDA)		 45.82 31.81 34.73 41.01 54.93 59.00 88.30 59.42 42.12 47.96 34.45
Enterprise Value to EBIT (EV/EBIT)		 49.98 36.37 43.21 49.00 61.83 65.98 100.24 66.36 46.06 49.94 35.59
Enterprise Value to NOPAT (EV/NOPAT)		 79.85 52.52 69.10 56.40 68.75 75.33 108.39 80.61 53.32 76.51 60.92
Enterprise Value to Operating Cash Flow (EV/OCF)		 49.69 35.67 36.71 34.80 47.47 47.32 71.65 44.47 30.05 32.23 30.02
Enterprise Value to Free Cash Flow (EV/FCFF)		 134.01 0.00 51.95 60.83 69.83 0.00 96.88 80.61 64.83 77.21 69.32
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.00 -0.82 -0.75 -0.82 -0.86 -0.75 -0.76 -0.82 -0.83 -0.85 -0.88
Leverage Ratio		 1.33 1.37 1.40 1.38 1.35 1.35 1.33 1.31 1.30 1.28 1.26
Compound Leverage Factor		 1.33 1.37 1.40 1.38 1.35 1.35 1.33 1.31 1.30 1.28 1.26
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 18.34 11.36 15.13 18.59 25.13 23.59 29.84 26.39 16.83 17.98 17.32
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.70 2.69 2.88 3.31 3.57 2.78 3.70 3.70 3.94 4.24 4.51
Quick Ratio		 3.62 2.64 2.84 3.27 3.52 2.74 3.65 3.65 3.86 4.17 4.44
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 25 -96 102 134 211 -157 408 422 362 380 472
Operating Cash Flow to CapEx		 250.79% 371.36% 1,918.36% 2,053.65% 3,165.57% 10,122.08% 6,348.57% 5,378.24% 5,776.12% 3,478.92% 5,312.40%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.68 0.65 0.68 0.64 0.60 0.56 0.48 0.48 0.50 0.44 0.41
Accounts Receivable Turnover		 4.15 3.45 3.36 3.28 3.08 2.97 2.62 2.67 2.91 2.82 2.82
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 20.44 10.82 11.31 13.52 16.08 20.13 26.82 33.96 41.32 43.63 48.00
Accounts Payable Turnover		 38.53 33.52 33.80 33.50 30.56 21.27 20.57 24.75 19.65 18.51 22.58
Days Sales Outstanding (DSO)		 88.04 105.90 108.60 111.22 118.45 123.00 139.13 136.95 125.30 129.23 129.28
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 9.47 10.89 10.80 10.89 11.94 17.16 17.75 14.75 18.58 19.72 16.16
Cash Conversion Cycle (CCC)		 78.56 95.01 97.80 100.32 106.50 105.83 121.38 122.20 106.73 109.51 113.12
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 8.96 159 134 144 148 579 536 536 614 617 682
Invested Capital Turnover		 677.97 4.87 3.76 4.97 5.91 3.04 2.63 3.46 3.75 3.84 4.23
Increase / (Decrease) in Invested Capital		 17 150 -25 10 3.31 431 -43 0.00 78 3.44 65
Enterprise Value (EV)		 3,358 2,859 5,287 8,123 14,756 20,698 39,495 33,995 23,450 29,368 32,720
Market Capitalization		 3,756 3,205 5,806 8,885 15,847 21,784 41,871 36,371 26,553 33,396 37,870
Book Value per Share		 $3.12 $3.80 $4.76 $6.41 $8.52 $11.21 $19.22 $18.94 $23.87 $28.85 $35.92
Tangible Book Value per Share		 $3.03 $2.72 $3.77 $5.51 $7.69 $7.35 $15.65 $15.41 $20.51 $25.72 $32.94
Total Capital		 407 505 653 906 1,238 1,666 2,912 2,912 3,716 4,645 5,832
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -398 -346 -519 -762 -1,090 -1,087 -2,376 -2,376 -3,103 -4,028 -5,150
Capital Expenditures (CapEx)		 27 22 7.51 11 9.82 4.32 8.68 14 14 26 21
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -32 -32 -54 -56 -58 -107 -110 -110 -140 -203 -240
Debt-free Net Working Capital (DFNWC)		 366 315 465 706 1,032 980 2,266 2,266 2,963 3,824 4,910
Net Working Capital (NWC)		 366 315 465 706 1,032 980 2,266 2,266 2,963 3,824 4,910
Net Nonoperating Expense (NNE)		 1.67 -0.02 -1.06 -7.15 -15 -26 -16 -5.69 -48 -142 -177
Net Nonoperating Obligations (NNO)		 -398 -346 -519 -762 -1,090 -1,087 -2,376 -2,376 -3,103 -4,028 -5,150
Total Depreciation and Amortization (D&A)		 6.11 11 30 32 30 37 53 60 48 24 30
Debt-free, Cash-free Net Working Capital to Revenue		 -10.08% -7.70% -9.77% -8.07% -6.70% -9.67% -7.49% -5.93% -6.50% -8.61% -8.73%
Debt-free Net Working Capital to Revenue		 116.95% 76.90% 84.48% 102.27% 119.74% 88.76% 154.70% 122.46% 137.47% 161.80% 178.78%
Net Working Capital to Revenue		 116.95% 76.90% 84.48% 102.27% 119.74% 88.76% 154.70% 122.46% 137.47% 161.80% 178.78%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.31 $0.41 $0.51 $1.01 $1.59 $2.04 $0.00 $0.00 $3.14 $3.27 $4.41
Adjusted Weighted Average Basic Shares Outstanding		 127.71M 132.02M 135.70M 140.31M 144.24M 147.80M 0.00 0.00 155.39M 160.53M 161.88M
Adjusted Diluted Earnings per Share		 $0.28 $0.38 $0.47 $0.92 $1.47 $1.90 $0.00 $0.00 $3.00 $3.22 $4.32
Adjusted Weighted Average Diluted Shares Outstanding		 144.20M 144.98M 147.58M 153.68M 156.12M 158.30M 0.00 0.00 162.44M 163.49M 165.23M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 131.47M 134.15M 138.70M 142.39M 146.43M 149.26M 0.00 0.00 159.81M 161.32M 162.70M
Normalized Net Operating Profit after Tax (NOPAT)		 42 54 77 144 215 275 364 422 440 384 537
Normalized NOPAT Margin		 13.43% 13.30% 13.90% 20.86% 24.89% 24.88% 24.87% 22.79% 20.41% 16.24% 19.55%
Pre Tax Income Margin		 21.45% 19.21% 22.22% 24.01% 27.68% 28.41% 26.89% 27.68% 23.62% 24.88% 33.47%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics and Ratios for Veeva Systems

This table displays calculated financial ratios and metrics derived from Veeva Systems' official financial filings.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 17.26% 0.00% 36.09% 4.20% 10.48% 11.61% 11.93% 23.56% 14.56% 13.41% 14.31%
EBITDA Growth		 -2.45% -2.75% 6.01% -30.12% 21.23% 20.19% 30.27% 110.97% 56.84% 41.74% 36.32%
EBIT Growth		 0.00% 0.00% 10.86% -29.61% 30.49% 27.50% 34.97% 125.44% 57.52% 41.96% 34.18%
NOPAT Growth		 0.00% 0.00% 36.60% -10.06% -2.82% 3.44% -28.06% 37.51% 55.64% 36.68% 37.79%
Net Income Growth		 -16.77% 0.00% 67.51% 31.37% 23.21% 24.62% -21.82% 22.92% 53.22% 37.47% 32.72%
EPS Growth		 -16.42% 0.00% 66.67% 30.65% 21.43% 23.88% -21.74% 20.99% 52.94% 36.14% 30.00%
Operating Cash Flow Growth		 -19.79% 26.29% 17.28% 5.18% 183.81% -42.10% -8.88% 50.91% -64.96% 98.69% 20.38%
Free Cash Flow Firm Growth		 85.62% 126.80% -33.71% -173.22% -149.60% -167.88% 43.57% 235.45% 154.69% 141.15% -19.30%
Invested Capital Growth		 0.00% 0.00% 14.58% 0.00% 0.00% 0.00% 0.56% -62.11% 5.54% 0.21% 10.55%
Revenue Q/Q Growth		 5.76% 3.39% 2.00% -6.58% 12.14% 4.45% 2.29% 3.13% 3.97% 3.41% 3.10%
EBITDA Q/Q Growth		 -15.60% 18.77% 0.41% -30.57% 46.41% 17.74% 8.83% 12.45% 8.85% 6.41% 4.67%
EBIT Q/Q Growth		 -16.02% 22.26% 1.12% -32.20% 55.67% 19.46% 7.04% 13.25% 8.78% 7.66% 1.17%
NOPAT Q/Q Growth		 -14.67% 17.59% 54.23% -41.88% -7.80% 25.16% 7.26% 11.10% 4.36% 9.92% 8.12%
Net Income Q/Q Growth		 -9.50% 19.71% 73.83% -30.24% -15.13% 21.08% 9.06% 9.68% 5.80% 8.63% 5.28%
EPS Q/Q Growth		 -9.68% 19.64% 71.64% -29.57% -16.05% 22.06% 8.43% 8.89% 6.12% 8.65% 3.54%
Operating Cash Flow Q/Q Growth		 -80.59% 52.76% -55.56% 698.04% -47.61% -68.84% -30.06% 1,221.67% -87.84% 76.71% -57.63%
Free Cash Flow Firm Q/Q Growth		 24.63% 21.08% -85.12% -426.00% 15.57% -65.71% 131.48% 207.56% -65.91% 24.67% -38.26%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -46.52% -13.49% 54.10% 41.05% -79.85% 140.96% 46.32% 55.59%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 71.61% 72.14% 70.83% 68.33% 71.36% 72.80% 72.42% 73.26% 74.80% 75.06% 74.89%
EBITDA Margin		 22.83% 26.22% 25.81% 19.18% 25.05% 28.23% 30.04% 32.75% 34.29% 35.29% 35.82%
Operating Margin		 18.92% 21.98% 19.33% 11.69% 17.63% 20.84% 21.45% 23.86% 24.62% 25.94% 26.14%
EBIT Margin		 20.50% 24.24% 24.03% 17.44% 24.21% 27.68% 28.97% 31.81% 33.28% 34.65% 34.00%
Profit (Net Income) Margin		 16.96% 19.64% 33.46% 24.99% 18.91% 21.92% 23.37% 24.86% 25.30% 26.57% 27.14%
Tax Burden Percent		 82.75% 81.02% 139.28% 143.30% 78.13% 79.19% 80.68% 78.14% 76.00% 76.69% 79.80%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 17.25% 18.98% -39.28% -43.30% 21.87% 20.81% 19.32% 21.86% 24.00% 23.31% 20.20%
Return on Invested Capital (ROIC)		 0.00% 0.00% 101.00% 222.20% 216.59% 173.27% 66.47% 204.99% 165.06% 120.64% 88.19%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 99.65% 219.80% 215.03% 171.57% 65.40% 204.02% 164.04% 119.61% 87.21%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% -82.37% -201.51% -200.33% -154.43% -55.77% -193.57% -153.79% -109.00% -76.39%
Return on Equity (ROE)		 0.00% 0.00% 18.62% 20.69% 16.27% 18.83% 10.70% 11.42% 11.27% 11.64% 11.80%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 62.95% 64.23% 98.97% -6.86% 61.82% 272.81% 151.81% 113.04% 72.66%
Operating Return on Assets (OROA)		 0.00% 0.00% 12.01% 7.55% 10.34% 12.17% 12.78% 14.12% 14.82% 15.76% 14.10%
Return on Assets (ROA)		 0.00% 0.00% 16.73% 10.83% 8.08% 9.63% 10.31% 11.03% 11.26% 12.09% 11.25%
Return on Common Equity (ROCE)		 0.00% 0.00% 18.62% 20.69% 16.27% 18.83% 10.70% 11.42% 11.27% 11.64% 11.80%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 13.17% 13.01% 12.94% 0.00% 11.37% 11.87% 12.10% 0.00%
Net Operating Profit after Tax (NOPAT)		 84 98 152 88 81 102 109 121 127 139 150
NOPAT Margin		 15.66% 17.81% 26.93% 16.75% 13.77% 16.50% 17.31% 18.64% 18.71% 19.89% 20.86%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 1.34% 2.40% 1.57% 1.69% 1.07% 0.96% 1.02% 1.04% 0.99%
Return On Investment Capital (ROIC_SIMPLE)		 - - 4.08% - - - 2.35% - - - 2.58%
Cost of Revenue to Revenue		 28.39% 27.86% 29.17% 31.67% 28.64% 27.20% 27.58% 26.74% 25.20% 24.94% 25.11%
SG&A Expenses to Revenue		 10.83% 9.57% 10.40% 11.91% 10.66% 10.10% 9.30% 9.42% 9.08% 10.35% 9.81%
R&D to Revenue		 25.08% 23.58% 25.30% 27.92% 26.64% 26.16% 25.94% 25.02% 26.09% 24.66% 25.18%
Operating Expenses to Revenue		 52.69% 50.16% 51.50% 56.64% 53.74% 51.96% 50.97% 49.40% 50.18% 49.12% 48.76%
Earnings before Interest and Taxes (EBIT)		 109 134 135 92 143 171 183 207 225 242 245
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 122 145 145 101 148 174 189 213 232 247 258
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 7.15 7.26 7.88 7.07 7.19 6.55 5.98 6.15 6.49
Price to Tangible Book Value (P/TBV)		 0.00 0.00 8.31 8.35 8.99 8.00 8.06 7.29 6.61 6.75 7.08
Price to Revenue (P/Rev)		 17.94 13.00 12.32 13.15 14.66 13.48 14.13 12.88 12.06 12.73 13.79
Price to Earnings (P/E)		 84.62 63.34 54.44 55.13 60.58 54.62 63.53 57.63 50.43 50.78 53.03
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.18% 1.58% 1.84% 1.81% 1.65% 1.83% 1.57% 1.74% 1.98% 1.97% 1.89%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 38.22 76.19 101.63 61.76 47.59 219.28 87.25 65.59 47.97
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 10.88 11.49 12.92 11.77 12.42 10.96 10.16 10.82 11.91
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 42.12 48.72 53.52 47.54 47.96 37.64 32.34 32.64 34.45
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 46.06 53.14 57.26 49.97 49.94 38.78 33.29 33.55 35.59
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 53.32 57.67 67.98 63.95 76.51 65.95 57.00 57.97 60.92
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 30.05 31.05 29.53 29.46 32.23 23.33 26.23 26.67 30.02
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 64.83 237.24 205.36 0.00 77.21 44.17 59.02 58.08 69.32
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 0.00 -0.83 -0.92 -0.93 -0.90 -0.85 -0.95 -0.94 -0.91 -0.88
Leverage Ratio		 0.00 0.00 1.30 1.27 1.26 1.19 1.28 1.27 1.24 1.18 1.26
Compound Leverage Factor		 0.00 0.00 1.30 1.27 1.26 1.19 1.28 1.27 1.24 1.18 1.26
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 0.00 16.57 17.80 20.20 24.02 17.75 16.75 18.26 23.42 17.02
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 0.00 3.94 4.16 4.35 5.64 4.24 4.29 5.01 6.36 4.51
Quick Ratio		 0.00 0.00 3.86 4.04 4.28 5.52 4.17 4.22 4.94 6.26 4.44
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 408 495 74 -240 -203 -336 106 325 111 138 85
Operating Cash Flow to CapEx		 5,615.51% 2,543.41% 1,622.65% 17,103.99% 2,762.81% 1,397.60% 746.85% 9,007.98% 3,043.05% 3,842.59% 1,473.39%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.50 0.43 0.43 0.44 0.44 0.44 0.45 0.45 0.41
Accounts Receivable Turnover		 0.00 0.00 2.91 4.83 5.36 7.65 2.82 5.84 6.27 8.83 2.82
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 41.32 43.47 39.21 39.87 43.63 46.03 45.30 46.89 48.00
Accounts Payable Turnover		 0.00 0.00 19.65 14.34 13.10 18.43 18.51 17.93 17.53 20.35 22.58
Days Sales Outstanding (DSO)		 0.00 0.00 125.30 75.64 68.12 47.74 129.23 62.51 58.20 41.33 129.28
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 18.58 25.46 27.87 19.81 19.72 20.35 20.82 17.94 16.16
Cash Conversion Cycle (CCC)		 0.00 0.00 106.73 50.18 40.25 27.93 109.51 42.16 37.38 23.39 113.12
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 0.00 614 328 284 437 617 124 300 438 682
Invested Capital Turnover		 0.00 0.00 3.75 13.26 15.73 10.50 3.84 11.00 8.82 6.07 4.23
Increase / (Decrease) in Invested Capital		 -325 -396 78 328 284 437 3.44 -204 16 0.93 65
Enterprise Value (EV)		 0.00 0.00 23,450 25,003 28,852 27,018 29,368 27,266 26,141 28,754 32,720
Market Capitalization		 34,621 26,078 26,553 28,618 32,721 30,960 33,396 32,031 31,026 33,817 37,870
Book Value per Share		 $0.00 $0.00 $23.87 $24.67 $25.92 $27.26 $28.85 $30.31 $32.07 $33.97 $35.92
Tangible Book Value per Share		 $0.00 $0.00 $20.51 $21.44 $22.72 $24.10 $25.72 $27.22 $29.02 $30.96 $32.94
Total Capital		 0.00 0.00 3,716 3,943 4,153 4,380 4,645 4,889 5,185 5,501 5,832
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 0.00 -3,103 -3,615 -3,869 -3,942 -4,028 -4,765 -4,885 -5,063 -5,150
Capital Expenditures (CapEx)		 1.66 5.61 3.91 2.96 9.59 5.91 7.74 8.48 3.05 4.27 4.72
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 -140 -433 -509 -375 -203 -743 -588 -473 -240
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 2,963 3,182 3,360 3,568 3,824 4,022 4,297 4,590 4,910
Net Working Capital (NWC)		 0.00 0.00 2,963 3,182 3,360 3,568 3,824 4,022 4,297 4,590 4,910
Net Nonoperating Expense (NNE)		 -6.95 -10 -37 -43 -30 -33 -38 -40 -45 -47 -45
Net Nonoperating Obligations (NNO)		 0.00 0.00 -3,103 -3,615 -3,869 -3,942 -4,028 -4,765 -4,885 -5,063 -5,150
Total Depreciation and Amortization (D&A)		 12 11 10 9.19 4.96 3.39 6.75 6.12 6.80 4.44 13
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% -6.50% -19.90% -22.80% -16.32% -8.61% -29.88% -22.83% -17.80% -8.73%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 137.47% 146.20% 150.51% 155.35% 161.80% 161.66% 166.98% 172.80% 178.78%
Net Working Capital to Revenue		 0.00% 0.00% 137.47% 146.20% 150.51% 155.35% 161.80% 161.66% 166.98% 172.80% 178.78%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $1.21 $0.82 $0.70 $0.84 $0.91 $1.00 $1.06 $1.15 $1.20
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 155.39M 159.85M 160.40M 160.77M 160.53M 161.42M 161.71M 161.99M 161.88M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $1.15 $0.81 $0.68 $0.83 $0.90 $0.98 $1.04 $1.13 $1.17
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 162.44M 162.52M 163.28M 163.76M 163.49M 164.39M 164.56M 164.98M 165.23M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 159.81M 160.22M 160.66M 161.02M 161.32M 161.65M 161.93M 162.35M 162.70M
Normalized Net Operating Profit after Tax (NOPAT)		 84 98 76 43 81 102 109 121 127 139 150
Normalized NOPAT Margin		 15.66% 17.81% 13.53% 8.18% 13.77% 16.50% 17.31% 18.64% 18.71% 19.89% 20.86%
Pre Tax Income Margin		 20.50% 24.24% 24.03% 17.44% 24.21% 27.68% 28.97% 31.81% 33.28% 34.65% 34.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Frequently Asked Questions About Veeva Systems' Financials

When does Veeva Systems's financial year end?

According to the most recent income statement we have on file, Veeva Systems' fiscal year ends in January. Their fiscal year 2025 ended on January 31, 2025.

How has Veeva Systems' net income changed over the last 10 years?

Veeva Systems' net income appears to be on an upward trend, with a most recent value of $714.14 million in 2025, rising from $40.38 million in 2015. The previous period was $525.71 million in 2024.

What is Veeva Systems's operating income?
Veeva Systems's total operating income in 2025 was $691.44 million, based on the following breakdown:
  • Total Gross Profit: $2.05 billion
  • Total Operating Expenses: $1.36 billion
How has Veeva Systems revenue changed over the last 10 years?

Over the last 10 years, Veeva Systems' total revenue changed from $313.22 million in 2015 to $2.75 billion in 2025, a change of 776.9%.

How much debt does Veeva Systems have?

Veeva Systems' total liabilities were at $1.51 billion at the end of 2025, a 19.1% increase from 2024, and a 991.9% increase since 2015.

How much cash does Veeva Systems have?

In the past 10 years, Veeva Systems' cash and equivalents has ranged from $129.25 million in 2015 to $1.14 billion in 2021, and is currently $1.12 billion as of their latest financial filing in 2025.

How has Veeva Systems' book value per share changed over the last 10 years?

Over the last 10 years, Veeva Systems' book value per share changed from 3.12 in 2015 to 35.92 in 2025, a change of 1,053.2%.

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This page (NYSE:VEEV) was last updated on 4/14/2025 by MarketBeat.com Staff
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