Veeva Systems (VEEV) | Financial Analysis & Statements
Veeva Systems Inc. Large-cap Healthcare
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Jan 2026Income Metrics
Revenue
836.0M
Gross Profit
622.5M
74.46%
Operating Income
245.9M
29.41%
Net Income
244.2M
29.21%
EPS (Diluted)
$1.45
Balance Sheet Metrics
Total Assets
9.0B
Total Liabilities
1.8B
Shareholders Equity
7.2B
Debt to Equity
0.24
Cash Flow Metrics
Operating Cash Flow
130.0M
Free Cash Flow
106.8M
Revenue & Profitability Trend
Quarter Income Flow
Jan 31, 2026
Annual Income Flow
2026
Veeva Systems Income Statement From 2022 to 2026
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | 3.2B | 2.7B | 2.4B | 2.2B | 1.9B |
| Cost of Goods Sold | 782.0M | 699.6M | 677.3M | 609.4M | 503.7M |
| Gross Profit | 2.4B | 2.0B | 1.7B | 1.5B | 1.3B |
| Gross Margin % | 75.5% | 74.5% | 71.3% | 71.7% | 72.8% |
| Operating Expenses | |||||
| Research & Development | 767.4M | 693.1M | 629.0M | 520.3M | 382.0M |
| Selling, General & Administrative | 729.5M | 662.5M | 628.0M | 566.3M | 459.6M |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 1.5B | 1.4B | 1.3B | 1.1B | 841.6M |
| Operating Income | 916.4M | 691.4M | 429.3M | 459.1M | 505.5M |
| Operating Margin % | 28.7% | 25.2% | 18.2% | 21.3% | 27.3% |
| Non-Operating Items | |||||
| Interest Income | 267.2M | 208.0M | 133.7M | 45.9M | 14.7M |
| Interest Expense | - | - | - | - | - |
| Other Non-Operating Income | 10.9M | 20.0M | 24.9M | 4.1M | -7.9M |
| Pre-tax Income | 1.2B | 919.4M | 588.0M | 509.1M | 512.3M |
| Income Tax | 285.6M | 205.2M | 62.3M | 21.4M | 84.9M |
| Effective Tax Rate % | 23.9% | 22.3% | 10.6% | 4.2% | 16.6% |
| Net Income | 908.9M | 714.1M | 525.7M | 487.7M | 427.4M |
| Net Margin % | 28.4% | 26.0% | 22.2% | 22.6% | 23.1% |
| Key Metrics | |||||
| EBITDA | 944.4M | 734.1M | 461.8M | 487.6M | 533.7M |
| EPS (Basic) | $5.55 | $4.41 | $3.27 | $3.14 | $2.79 |
| EPS (Diluted) | $5.44 | $4.32 | $3.22 | $3.00 | $2.63 |
| Basic Shares Outstanding | 163667000 | 161879000 | 160532000 | 155385000 | 153251000 |
| Diluted Shares Outstanding | 163667000 | 161879000 | 160532000 | 155385000 | 153251000 |
Income Statement Trend
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Veeva Systems Balance Sheet From 2022 to 2026
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 1.4B | 1.1B | 703.5M | 886.5M | 1.1B |
| Short-term Investments | 5.1B | 4.0B | 3.3B | 2.2B | 1.2B |
| Accounts Receivable | 1.3B | 1.0B | 852.2M | 703.1M | 631.1M |
| Inventory | - | - | - | - | - |
| Other Current Assets | 126.5M | 101.5M | 86.9M | 81.5M | 36.7M |
| Total Current Assets | 8.0B | 6.3B | 5.0B | 4.0B | 3.1B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 0 | 0 | 0 | 55.3M | 49.6M |
| Goodwill | 910.1M | 924.2M | 942.8M | 962.2M | 981.7M |
| Intangible Assets | 30.3M | 44.5M | 63.0M | 82.5M | 101.9M |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 365.6M | 426.8M | 300.7M | 207.5M | 63.3M |
| Total Non-Current Assets | 981.7M | 1.0B | 907.7M | 835.0M | 709.3M |
| Total Assets | 9.0B | 7.3B | 5.9B | 4.8B | 3.8B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 37.6M | 30.4M | 31.5M | 41.7M | 20.3M |
| Short-term Debt | 12.2M | 10.0M | 9.3M | 11.3M | 11.0M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | 1.6B | 1.4B | 1.2B | 1.0B | 840.8M |
| Non-Current Liabilities | |||||
| Long-term Debt | 83.7M | 65.8M | 46.4M | 49.7M | 43.6M |
| Deferred Tax Liabilities | 558.0K | 587.0K | 2.1M | 1.5M | 2.2M |
| Other Non-Current Liabilities | 43.3M | 42.6M | 38.7M | 30.1M | 18.2M |
| Total Non-Current Liabilities | 127.5M | 109.0M | 87.2M | 81.2M | 64.0M |
| Total Liabilities | 1.8B | 1.5B | 1.3B | 1.1B | 904.8M |
| Equity | |||||
| Common Stock | 2.0K | 2.0K | 2.0K | 2.0K | 2.0K |
| Retained Earnings | 4.4B | 3.5B | 2.7B | 2.2B | 1.7B |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 7.2B | 5.8B | 4.6B | 3.7B | 2.9B |
| Key Metrics | |||||
| Total Debt | 95.9M | 75.8M | 55.8M | 61.0M | 54.6M |
| Working Capital | 6.4B | 4.9B | 3.8B | 3.0B | 2.3B |
Balance Sheet Composition
Veeva Systems Cash Flow Statement From 2022 to 2026
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 908.9M | 714.1M | 525.7M | 487.7M | 427.4M |
| Depreciation & Amortization | 38.0M | 39.4M | 32.6M | 29.1M | 27.4M |
| Stock-Based Compensation | 472.7M | 437.4M | 393.7M | 351.9M | 234.6M |
| Working Capital Changes | -58.8M | 29.3M | 57.7M | 48.3M | 8.9M |
| Operating Cash Flow | 1.5B | 1.1B | 934.3M | 823.8M | 746.9M |
| Investing Activities | |||||
| Capital Expenditures | - | - | - | - | - |
| Acquisitions | - | - | 0 | 0 | -7.8M |
| Investment Purchases | -3.1B | -2.6B | -2.7B | -2.0B | -1.1B |
| Investment Sales | 2.1B | 1.9B | 1.6B | 1.0B | 792.9M |
| Investing Cash Flow | -1.1B | -700.1M | -1.1B | -1.0B | -346.2M |
| Financing Activities | |||||
| Share Repurchases | -169.9M | - | - | - | - |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | - | - | - | - | - |
| Debt Repayment | - | - | - | - | - |
| Financing Cash Flow | -263.2M | -79.4M | -78.9M | -63.0M | -55.3M |
| Free Cash Flow | 1.4B | 1.1B | 911.3M | 780.5M | 764.5M |
| Net Change in Cash | 90.5M | 356.6M | -220.9M | -246.9M | 345.5M |
Cash Flow Trend
Veeva Systems Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
29.57
Forward P/E
16.30
Price to Book
3.66
Price to Sales
8.29
PEG Ratio
1.22
Profitability Ratios
Profit Margin
28.45%
Operating Margin
29.41%
Return on Equity
13.93%
Return on Assets
7.25%
Financial Health
Current Ratio
4.88
Debt to Equity
1.33
Beta
1.10
Per Share Data
EPS (TTM)
$5.45
Book Value per Share
$44.05
Revenue per Share
$19.52
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| VEEV | 26.5B | 29.57 | 3.66 | 13.93% | 28.45% | 1.33 |
| Ge Healthcare | 31.9B | 15.92 | 3.18 | 22.38% | 10.10% | 98.72 |
| Tempus AI | 9.4B | 39.30 | 18.89 | -89.48% | -19.27% | 270.11 |
| MSP Recovery | 38.1K | - | 0.00 | -59.11% | 72.16% | 70.91 |
| MSP Recovery | 22.4M | 3.60 | 0.17 | -59.11% | 72.16% | 70.91 |
| BrightSpring Health | 9.3B | 100.33 | 5.24 | 5.92% | 1.48% | 143.60 |
Financial data is updated regularly. All figures are in the company's reporting currency.




