Veeva Systems
VEEV · NYSEServices-Prepackaged Software · Fiscal year ends Jan 31
Veeva Systems reported revenue of $3.2B in the fiscal year ended Jan 2026, up 16.3% from the year before. Operating income was $916M, an operating margin of 28.7%, and net income was $909M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | $1.9B | $2.2B | $2.4B | $2.7B | $3.2B |
| Cost of revenue | $504M | $609M | $677M | $700M | $782M |
| Gross profit | $1.3B | $1.5B | $1.7B | $2B | $2.4B |
| Research & development | $382M | $520M | $629M | $693M | $767M |
| Operating income | $505M | $459M | $429M | $691M | $916M |
| Pre-tax income | $512M | $509M | $588M | $919M | $1.2B |
| Income tax | $85M | $21M | $62M | $205M | $286M |
| Net income | $427M | $488M | $526M | $714M | $909M |
| Diluted EPS | 2.63 | 3.00 | 3.22 | 4.32 | 5.44 |
| Diluted shares | 162M | 162M | 163M | 165M | 167M |
Balance sheet
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.1B | $886M | $703M | $1.1B | $1.4B |
| Receivables | $631M | $703M | $852M | $1B | $1.3B |
| Current assets | $3.1B | $4B | $5B | $6.3B | $8B |
| Net PP&E | $54M | $50M | $59M | $56M | $70M |
| Goodwill | $440M | $440M | $440M | $440M | $440M |
| Total assets | $3.8B | $4.8B | $5.9B | $7.3B | $9B |
| Payables | $20M | $42M | $32M | $30M | $38M |
| Deferred revenue | $732M | $869M | $1B | $1.3B | $1.5B |
| Current liabilities | $841M | $1B | $1.2B | $1.4B | $1.6B |
| Total liabilities | $905M | $1.1B | $1.3B | $1.5B | $1.8B |
| Shareholders' equity | $2.9B | $3.7B | $4.6B | $5.8B | $7.2B |
Cash flow
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $764M | $780M | $911M | $1.1B | $1.4B |
| Depreciation & amortisation | $7M | $6M | $6M | – | – |
| Stock-based compensation | $235M | $352M | $394M | $437M | $473M |
| Acquisitions | $8M | $0 | $0 | – | – |
| Share buybacks | – | – | $0 | $0 | $170M |
Key ratios
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 16.4% | 9.7% | 16.2% | 16.3% |
| Operating income growth (YoY) | – | −9.2% | −6.5% | 61.0% | 32.5% |
| EPS growth (YoY) | – | 14.1% | 7.3% | 34.2% | 25.9% |
| Gross margin | 72.8% | 71.7% | 71.3% | 74.5% | 75.5% |
| Operating margin | 27.3% | 21.3% | 18.2% | 25.2% | 28.7% |
| Net margin | 23.1% | 22.6% | 22.2% | 26.0% | 28.4% |
| Return on equityBlank when equity is negative | 14.7% | 13.1% | 11.3% | 12.2% | 12.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 17.0% | 12.1% | 9.1% | 11.6% | 12.5% |
| Cash conversion (CFO ÷ net income) | 1.79x | 1.60x | 1.73x | 1.53x | 1.56x |
| Receivable days | 124 | 119 | 132 | 135 | 144 |
| Payable days | 15 | 25 | 17 | 16 | 18 |
| Current ratio | 3.70x | 3.94x | 4.24x | 4.51x | 4.89x |
Recent filings
More in Services-Prepackaged Software
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.