VEEV - Veeva Systems Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$276.57
DETAILS
HIGH:
$333.00
LOW:
$205.00
MEDIAN:
$283.00
CONSENSUS:
$276.57
UPSIDE:
72.67%
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||
| Revenue | 3,195.3 | 2,746.6 | 2,363.7 | 2,155.1 | 1,850.8 | 1,465.1 | 1,104.1 | 862.2 | 690.6 | 544.0 | 313.2 | 210.2 | 129.5 | 61.3 | 29.1 |
| Cost of Revenue | 782.0 | 699.6 | 677.3 | 609.4 | 503.7 | 408.9 | 303.4 | 245.3 | 211.4 | 173.7 | 115.7 | 82.6 | 57.0 | 29.1 | 12.3 |
| Gross Profit | 2,413.3 | 2,047.0 | 1,686.4 | 1,545.7 | 1,347.1 | 1,056.1 | 800.7 | 616.9 | 479.1 | 370.4 | 197.6 | 127.5 | 72.5 | 32.2 | 16.8 |
| Operating Expenses | |||||||||||||||
| R&D Expenses | 767.4 | 693.1 | 629.0 | 520.3 | 382.0 | 294.2 | 209.9 | 158.8 | 132.1 | 96.8 | 41.2 | 26.3 | 14.6 | 7.8 | 3.6 |
| SG&A Expenses | 729.5 | 662.5 | 628.0 | 566.3 | 459.6 | 384.1 | 304.6 | 235.3 | 189.2 | 159.4 | 86.4 | 61.9 | 27.9 | 17.8 | 8.1 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0.0) | (0.0) | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 1,496.9 | 1,355.5 | 1,257.0 | 1,086.6 | 841.6 | 678.3 | 514.5 | 394.1 | 321.2 | 256.2 | 127.6 | 88.2 | 42.5 | 25.6 | 11.7 |
| Operating Income | |||||||||||||||
| Operating Income | 916.4 | 691.4 | 429.3 | 459.1 | 505.5 | 377.8 | 286.2 | 222.9 | 157.9 | 120.7 | 70.0 | 39.3 | 30.0 | 6.6 | 5.1 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 208.0 | 133.7 | 45.9 | 14.7 | 15.9 | 25.2 | 15.4 | 8.4 | 4.5 | 3.5 | 0.5 | 0.1 | 0 | 0 |
| Profitability | |||||||||||||||
| EBITDA | 916.4 | 730.8 | 462.0 | 488.2 | 532.9 | 407.2 | 306.1 | 236.9 | 179.5 | 134.5 | 73.9 | 41.7 | 30.8 | 7.0 | 5.3 |
| EBIT | 916.4 | 691.4 | 429.3 | 459.1 | 505.5 | 377.8 | 286.2 | 222.9 | 165.8 | 120.7 | 70.0 | 39.3 | 30.0 | 6.6 | 5.1 |
| Income Before Tax | 1,194.5 | 919.4 | 588.0 | 509.1 | 512.3 | 394.0 | 313.7 | 238.6 | 165.8 | 122.4 | 67.2 | 38.5 | 29.1 | 6.7 | 5.3 |
| Income Tax Expense | 285.6 | 205.2 | 62.3 | 21.4 | 84.9 | 14.0 | 12.6 | 8.8 | 14.6 | 44.8 | 26.8 | 14.9 | 10.3 | 2.4 | 1.4 |
| Net Income | 908.9 | 714.1 | 525.7 | 487.7 | 427.4 | 380.0 | 301.1 | 229.8 | 151.2 | 77.6 | 40.4 | 23.6 | 3.5 | 4.2 | 3.9 |
| Per Share Data | |||||||||||||||
| EPS (Basic) | 5.55 | 4.41 | 3.27 | 3.14 | 2.79 | 2.52 | 2.04 | 1.59 | 1.08 | 0.51 | 0.31 | 0.20 | 0.03 | 0.01 | 0.00 |
| EPS (Diluted) | 5.44 | 4.32 | 3.22 | 3.00 | 2.63 | 2.36 | 1.90 | 1.47 | 0.98 | 0.47 | 0.28 | 0.15 | 0.03 | 0.01 | 0.00 |
| Shares Outstanding | 163.7 | 161.9 | 160.5 | 155.4 | 153.3 | 150.7 | 147.8 | 144.2 | 140.3 | 146.4 | 127.7 | 103.5 | 108.4 | 125.8 | 125.8 |
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 1,421.2 | 1,118.8 | 703.5 | 886.5 | 1,138.0 | 730.5 | 476.7 | 551.0 | 320.2 | 217.6 |
| Short-Term Investments | 5,139.6 | 4,031.4 | 3,324.3 | 2,216.2 | 1,238.1 | 933.1 | 610.0 | 539.2 | 441.8 | 301.3 |
| Net Receivables | 1,310.3 | 1,057.1 | 888.5 | 785.2 | 694.4 | 611.6 | 422.5 | 321.6 | 238.0 | 182.8 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 126.5 | 101.5 | 86.9 | 81.5 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 7,997.6 | 6,308.8 | 5,003.2 | 3,969.3 | 3,107.2 | 2,310.8 | 1,531.1 | 1,433.4 | 1,008.1 | 711.9 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 145.9 | 119.8 | 104.1 | 105.2 | 104.1 | 110.6 | 103.9 | 55.0 | 52.3 | 49.9 |
| Goodwill | 439.9 | 439.9 | 439.9 | 439.9 | 439.9 | 436.0 | 438.5 | 95.8 | 95.8 | 95.8 |
| Intangible Assets | 30.3 | 44.5 | 63.0 | 82.5 | 101.9 | 114.6 | 134.6 | 24.5 | 31.5 | 39.3 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 92.2 | 82.9 | 67.2 | 70.8 | 58.2 | 60.0 | 51.8 | 39.1 | 36.1 | 4.1 |
| Total Non-Current Assets | 981.7 | 1,031.0 | 907.7 | 835.0 | 709.3 | 735.2 | 740.7 | 220.4 | 217.9 | 205.8 |
| Total Assets | 8,979.3 | 7,339.8 | 5,910.9 | 4,804.3 | 3,816.5 | 3,046.1 | 2,271.8 | 1,653.8 | 1,230.3 | 917.7 |
| Current Liabilities | ||||||||||
| Account Payables | 37.6 | 30.4 | 31.5 | 41.7 | 20.3 | 23.3 | 19.4 | 9.1 | 6.9 | 5.7 |
| Short-Term Debt | 12.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 1,488.8 | 1,274.0 | 1,049.8 | 869.3 | 731.7 | 617.0 | 468.9 | 356.4 | 266.9 | 213.6 |
| Other Current Liabilities | 98.4 | 18.8 | 19.8 | 16.8 | 15.8 | 30.4 | 25.6 | 15.3 | 17.1 | 12.0 |
| Total Current Liabilities | 1,637.1 | 1,398.4 | 1,178.9 | 1,006.8 | 840.8 | 716.0 | 551.2 | 401.0 | 306.2 | 246.8 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0.6 | 0.6 | 2.1 | 1.5 | 2.2 | 1.8 | 2.4 | 6.1 | 10.9 | 13.0 |
| Other Non-Current Liabilities | 43.3 | 42.6 | 38.7 | 30.1 | 18.2 | 10.6 | 7.8 | 8.9 | 7.0 | 5.0 |
| Total Non-Current Liabilities | 127.5 | 109.0 | 87.2 | 81.2 | 64.0 | 63.8 | 55.0 | 15.0 | 17.9 | 17.9 |
| Total Liabilities | 1,764.6 | 1,507.4 | 1,266.1 | 1,088.0 | 904.8 | 779.7 | 606.2 | 416.0 | 324.1 | 264.7 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | 4,363.5 | 3,454.6 | 2,740.5 | 2,214.8 | 1,727.0 | 1,299.7 | 919.7 | 619.2 | 389.4 | 212.2 |
| Accumulated Other Comprehensive Income | 8.2 | (8.4) | (10.6) | (31.1) | (12.0) | 1.0 | 0.5 | 0.9 | 1.6 | 0.1 |
| Total Stockholders' Equity | 7,214.8 | 5,832.4 | 4,644.8 | 3,716.3 | 2,911.6 | 2,266.3 | 1,665.6 | 1,237.7 | 906.2 | 653.0 |
| Total Liabilities & Equity | 8,979.3 | 7,339.8 | 5,910.9 | 4,804.3 | 3,816.5 | 3,046.1 | 2,271.8 | 1,653.8 | 1,230.3 | 917.7 |
| Debt Metrics | ||||||||||
| Total Debt | 95.9 | 75.8 | 55.8 | 61.0 | 54.6 | 63.1 | 54.8 | 0 | 0 | 0 |
| Net Debt | (1,325.4) | (1,043.0) | (647.7) | (825.5) | (1,083.5) | (667.4) | (421.9) | (551.0) | (320.2) | (217.6) |
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 908.9 | 714.1 | 525.7 | 487.7 | 427.4 | 380.0 | 301.1 | 229.8 | 151.2 | 68.8 |
| Depreciation & Amortization | 50.5 | 50.9 | 37.1 | 37.7 | 37.0 | 39.3 | 26.6 | 13.4 | 13.7 | 13.1 |
| Stock-Based Compensation | 472.7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Working Capital | (91.9) | 7.6 | 60.8 | 7.3 | 20.7 | (75.6) | (18.2) | (17.4) | (5.3) | 23.7 |
| Other Non-Cash Items | 10.0 | 429.6 | 393.0 | 375.3 | 268.4 | 208.6 | 134.5 | 93.1 | 72.7 | 43.5 |
| Operating Cash Flow | 1,415.2 | 1,090.1 | 911.3 | 780.5 | 764.5 | 551.2 | 437.4 | 310.8 | 233.4 | 144.0 |
| Investing Activities | ||||||||||
| Capital Expenditure | (29.1) | (20.5) | (26.2) | (13.5) | (14.2) | (8.7) | (3.1) | (8.4) | (9.6) | (6.9) |
| Acquisitions | 0 | 0 | 0 | 0 | (7.8) | 0 | (448.2) | 0 | 0 | 0 |
| Purchases of Investments | (3,133.1) | (2,582.0) | (2,698.0) | (1,996.9) | (1,117.1) | (979.3) | (752.5) | (726.4) | (437.9) | (314.8) |
| Sales/Maturities of Investments | 2,057.8 | 1,902.3 | 1,647.8 | 1,002.7 | 792.9 | 654.3 | 688.1 | 632.3 | 294.7 | 225.6 |
| Other Investing Activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1 |
| Investing Cash Flow | (1,104.4) | (700.1) | (1,076.4) | (1,007.7) | (346.2) | (333.6) | (516.9) | (103.9) | (154.5) | (96.7) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 0 | 0 | 0 | 0 | (0.4) | (1.0) | (1.0) | 0 | 0 | 0 |
| Stock Repurchased | (169.9) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0.0) |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (93.2) | (79.4) | (78.9) | (63.0) | (55.3) | 0 | 0 | 0 | 0 | 25.6 |
| Financing Cash Flow | (9.3) | 26.1 | (16.2) | (19.4) | (4.1) | 33.8 | 10.0 | 25.9 | 20.8 | 38.0 |
| Cash Position | ||||||||||
| Net Change in Cash | 302.4 | 414.3 | (183.0) | (251.6) | 409.5 | 251.9 | (72.4) | 230.8 | 102.6 | 85.4 |
| Cash at Beginning | 1,121.0 | 706.7 | 889.6 | 1,141.2 | 731.7 | 479.8 | 552.2 | 321.4 | 217.6 | 132.2 |
| Cash at End | 1,423.4 | 1,121.0 | 706.7 | 889.6 | 1,141.2 | 731.7 | 479.8 | 552.2 | 320.2 | 217.6 |
| Free Cash Flow | 1,386.1 | 1,069.5 | 885.1 | 767.0 | 750.2 | 542.6 | 434.3 | 302.4 | 223.8 | 137.1 |
| Key Metrics | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||||
| Revenue | 3,195.3 | 2,746.6 | 2,363.7 | 2,155.1 | 1,850.8 | 1,465.1 | 1,104.1 | 862.2 | 690.6 | 544.0 | 313.2 | 210.2 | 129.5 | 61.3 | 29.1 |
| Gross Profit | 2,413.3 | 2,047.0 | 1,686.4 | 1,545.7 | 1,347.1 | 1,056.1 | 800.7 | 616.9 | 479.1 | 370.4 | 197.6 | 127.5 | 72.5 | 32.2 | 16.8 |
| Operating Income | 916.4 | 691.4 | 429.3 | 459.1 | 505.5 | 377.8 | 286.2 | 222.9 | 157.9 | 120.7 | 70.0 | 39.3 | 30.0 | 6.6 | 5.1 |
| Net Income | 908.9 | 714.1 | 525.7 | 487.7 | 427.4 | 380.0 | 301.1 | 229.8 | 151.2 | 77.6 | 40.4 | 23.6 | 3.5 | 4.2 | 3.9 |
| EPS (Diluted) | 5.44 | 4.32 | 3.22 | 3.00 | 2.63 | 2.36 | 1.90 | 1.47 | 0.98 | 0.47 | 0.28 | 0.15 | 0.03 | 0.01 | 0.00 |
| Balance Sheet | |||||||||||||||
| Cash & Equivalents | 1,421.2 | 1,118.8 | 703.5 | 886.5 | 1,138.0 | 730.5 | 476.7 | 551.0 | 320.2 | 217.6 | |||||
| Total Assets | 8,979.3 | 7,339.8 | 5,910.9 | 4,804.3 | 3,816.5 | 3,046.1 | 2,271.8 | 1,653.8 | 1,230.3 | 917.7 | |||||
| Total Debt | 95.9 | 75.8 | 55.8 | 61.0 | 54.6 | 63.1 | 54.8 | 0 | 0 | 0 | |||||
| Stockholders' Equity | 7,214.8 | 5,832.4 | 4,644.8 | 3,716.3 | 2,911.6 | 2,266.3 | 1,665.6 | 1,237.7 | 906.2 | 653.0 | |||||
| Cash Flow | |||||||||||||||
| Operating Cash Flow | 1,415.2 | 1,090.1 | 911.3 | 780.5 | 764.5 | 551.2 | 437.4 | 310.8 | 233.4 | 144.0 | |||||
| Capital Expenditure | (29.1) | (20.5) | (26.2) | (13.5) | (14.2) | (8.7) | (3.1) | (8.4) | (9.6) | (6.9) | |||||
| Free Cash Flow | 1,386.1 | 1,069.5 | 885.1 | 767.0 | 750.2 | 542.6 | 434.3 | 302.4 | 223.8 | 137.1 | |||||