Overview
VEEVA SYSTEMS INC
Latest 10-K: FY2026, filed Mar 20, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $3.20B
- 16.3%YoYup from FY2025
- TotalRevenue
- Gross profit
- $2.41B
- 17.9%YoYup from FY2025
- GrossProfit
- Operating income
- $0.92B
- 32.5%YoYup from FY2025
- OperatingIncome
- Net income
- $0.91B
- 27.3%YoYup from FY2025
- NetIncome
- Diluted EPS
- $5.44
- 25.9%YoYup from FY2025
- EPSDiluted
- Diluted shares
- 167.0M
- 1.1%YoYup from FY2025
- WeightedAvgSharesDiluted
At a glance
Growth
- VEEVA SYSTEMS INC reported revenue of $3.20B for fiscal 2026, up 16.3% from fiscal 2025.
- Revenue grew faster than the median S&P 500 member in 4 of the last 4 fiscal years.
Profitability
- Operating margin was 28.7% and net margin was 28.4%.
Per share
- Diluted EPS was $5.44, up 25.9% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $3.20B16.3%up | $2.75B16.2%up Benchmark median 6.4% | $2.36B9.7%up Benchmark median 4.5% | $2.16B16.4%up Benchmark median 4.8% | $1.85B26.3%up Benchmark median 10.3% | 14.6% |
| Gross Profit Median of 315 / 498 | $2.41B17.9%up | $2.05B21.4%up Benchmark median 6.8% | $1.69B9.1%up Benchmark median 5.5% | $1.55B14.7%up Benchmark median 5.2% | $1.35B27.5%up Benchmark median 8.3% | 15.7% |
| Operating Income Median of 373 / 498 | $916.37M32.5%up | $691.43M61.0%up Benchmark median 7.3% | $429.33M6.5%down Benchmark median 7.4% | $459.09M9.2%down Benchmark median 4.9% | $505.50M33.8%up Benchmark median 7.5% | 16.0% |
| Net Income | $908.91M27.3%up | $714.14M35.8%up Benchmark median 4.8% | $525.71M7.8%up Benchmark median 5.7% | $487.71M14.1%up Benchmark median 1.9% | $427.39M12.5%up Benchmark median 1.3% | 20.8% |
| EPS (Diluted) | $5.4425.9%up | $4.3234.2%up Benchmark median 6.2% | $3.227.3%up Benchmark median 7.9% | $3.0014.1%up Benchmark median 1.9% | $2.6311.4%up Benchmark median 1.5% | 19.9% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $8.98B22.3%up | $7.34B24.2%up Benchmark median 5.6% | $5.91B23.0%up Benchmark median 3.4% | $4.80B25.9%up Benchmark median 4.1% | $3.82B25.3%up Benchmark median 2.2% | 23.8% |
| Total Liabilities Median of 357 / 498 | $1.76B17.1%up | $1.51B19.1%up Benchmark median 6.4% | $1.27B16.4%up Benchmark median 1.9% | $1.09B20.2%up Benchmark median 2.9% | $0.90B16.0%up Benchmark median 2.0% | 18.2% |
| Stockholders' Equity | $7.21B23.7%up | $5.83B25.6%up Benchmark median 6.8% | $4.64B25.0%up Benchmark median 5.4% | $3.72B27.6%up Benchmark median 7.3% | $2.91B28.5%up Benchmark median 2.5% | 25.5% |
| Cash & Equivalents | $1.42B27.0%up | $1.12B59.0%up Benchmark median 5.2% | $0.70B20.6%down Benchmark median 1.9% | $0.89B22.1%down Benchmark median 6.7% | $1.14B55.8%up Benchmark median -8.6% | 5.7% |
| Total Debt | — | — | — | — | — | — |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.42B29.8%up | $1.09B19.6%up Benchmark median 6.3% | $0.91B16.8%up Benchmark median 4.8% | $0.78B2.1%up Benchmark median 9.9% | $0.76B38.7%up Benchmark median -0.7% | 16.6% |
| Capital Expenditures | — | — | — | — | — | — |
| Free Cash Flow Median of 378 / 498 | — | — | — | — | — | — |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2026Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
2.7%
Wall Street
on net earnings
FY2025 1.9%
— Not reported
Value investor
on free cash flow
FY2025 — Not reported
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 37.5×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
21.2%
Wall Street
on book equity
FY2025 15.1%
19.9%
Value investor
on tangible book
FY2025 14.0%
Gap −1.3 pts: Value-investor figure 1.3 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 4.7×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
13.9%
Wall Street
ROE: net income ÷ equity
FY2025 13.6%
89.1%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2025 68.2%
Gap +75.2 pts: Value-investor figure 75.2 points higher
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
29.1%
Wall Street
EBITDA margin
FY2025 25.9%
— Not reported
Value investor
Free-cash-flow margin
FY2025 — Not reported
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
4.89×
Wall Street
Current ratio
FY2025 4.51×
4.89×
Value investor
Quick ratio, inventory excluded
FY2025 4.51×
Gap Same: Both views read the same
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on VEEV yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on VEEV and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/VEEV
Valuein. (2026, October 31). VEEVA SYSTEMS INC (VEEV) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/VEEV
@misc{valuein_veev_2026,
author = {{Valuein}},
title = {VEEVA SYSTEMS INC (VEEV) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/VEEV}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Mar 20, 2026 · accession 0001393052-26-000014
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