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VEEV.NYSE
Veeva Systems
Health Care · Health Care Technology
Veeva Systems Inc. provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America.MoreShow less
HQ: United StatesListed: United States

Profile & Fundamentals

Veeva Systems (VEEV.NYSE) Profile & Fundamentals

Review Veeva Systems reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.

Interactive annual chartsAI financial reviewsReported source tables
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Profile & Fundamentals contents

Company and Market Context

Veeva Systems: Company Profile & Ownership

Veeva Systems Inc. provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud comprising Veeva Vault CRM Suite for pharmaceutical and biotechnology companies; Veeva Medical that provides source of medical content across multiple channels and geographies; Veeva PromoMats, an end-to-end content and digital asset management solution; and Veeva Crossix, an analytics platform for pharmaceutical brands. It also provides Veeva Data Cloud, such as Veeva OpenData, a customer reference data solution; Veeva Link, which provides deep data; Veeva Compass, which includes de-identified and longitudinal patient data; and Veeva CRM Pulse that provides access and multichannel engagement metrics. In addition, the company offers Veeva Development Cloud consisting of Veeva Clinical Platform, which advances clinical trial execution; Veeva Clinical Data Management that helps sponsors and CROs design and run trials; Veeva Safety, which unifies systems and processes; Veeva RIM that provides regulatory information management capabilities, as well as Veeva Quality Cloud, which is used by the life sciences and consumer products industries; and Veeva Business Consulting services. Further, it provides professional and support services, including implementation and deployment planning, and project management; requirements analysis, solution design, and configuration; systems environment management and deployment; services focused on advancing or transforming business and operating processes; technical consulting services on data migration and systems integrations; training; and ongoing managed services, such as outsourced systems administration. The company was formerly known as Verticals onDemand, Inc. and changed its name to Veeva Systems Inc. in April 2009. Veeva Systems Inc. was incorporated in 2007 and is headquartered in Pleasanton, California.

VEEV.NYSE

Company profile record

Veeva Systems Inc Class A

Common Stock · Health Care · Health Care Technology

Official website

Company

Company / asset
Veeva Systems Inc Class A
Security type
Common Stock
Sector
Health Care
Industry
Health Care Technology
HQ
🇺🇸 United States
Head office
4280 Hacienda Drive, Pleasanton, CA, United States, 94588

Leadership & scale

Chief executive
Mr. Peter P. Gassner
CEO year born
1965
Full-time employees
7.9K
Fiscal year end
January
IPO date
2013-10-16

Fundamentals snapshot

Updated 2026-11-08
Market Cap
USD 50.4B
P/E
49.7x
Revenue (Q3 26)
USD 928.0M
Profit (Q3 26)
USD 273.4M
Dividend Yield
--
Revenue (FY 26)
USD 3.2B
Shares in public float
148.3M
Insider ownership
8.62%

Reporting & identifiers

Symbol
VEEV.NYSE
Listing
🇺🇸 United States | Dividend Tax: 30%
Ticker Currency
USD
Income Statement Currency
USD
Balance Sheet Currency
USD
Cash Flow Currency
USD
EPS Currency
USD
Contract Type
SPOT
ISIN
US9224751084
Asset ID
equity_3448ed91-1365-51d0-8e39-1bb85c70b3f8

Veeva Systems: Ownership

Shares Outstanding

Latest: 165.1M | Max: 168.0M | Min: 154.3M

Shares Outstanding
211.6M158.7M105.8M52.9M0.00
165.1M
'17
'19
'21
'23
'25
'26

Latest reported ownership snapshot

Float Shares

89.83%

148.3M latest reported shares

Insider Ownership

8.62%

Latest reported insider stake

Short Float

0.03%

Latest reported short interest / float

Top Holders

Top 5 concentration: 25.69%
BlackRock Inc
institution
Filed 2026-06-30 • Change +1.3M (+11.28%)
7.94%(12.9M shares)
Vanguard Capital Management, LLC
institution
Filed 2026-06-30 • Change +3.0M (+45.31%)
5.99%(9.7M shares)
Vanguard Portfolio Management, LLC
institution
Filed 2026-06-30 • Change +38.7K (+0.52%)
4.58%(7.4M shares)
State Street Corp
institution
Filed 2026-06-30 • Change +3.1M (+85.86%)
4.14%(6.7M shares)
AllianceBernstein L.P.
institution
Filed 2026-06-30 • Change -1.4M (-21.65%)
3.03%(4.9M shares)
Vanguard MStar Total Stk Mkt Idx Invest
fund
Filed 2026-09-30 • Change -34.8K (-0.75%)
2.86%(4.6M shares)
Geode Capital Management, LLC
institution
Filed 2026-06-30 • Change +1.2M (+36.11%)
2.78%(4.5M shares)
Source tablesView ownership tables

Shares Outstanding

Annual reported shares outstanding; up to 10 reporting dates.

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Shares outstanding — reported values
Reporting dateShares outstanding
2017-01-01154,256,000
2018-01-01156,025,000
2019-01-01158,750,000
2020-01-01161,711,000
2021-01-01163,034,000
2022-01-01162,295,000
2023-01-01163,761,000
2024-01-01164,979,000
2025-01-01167,953,000
2026-01-01165,057,000

Top Holders

Available reported ownership records.

Scroll the table to see every column.

Largest reported holders
HolderSharesOwnershipReported date
BlackRock Inc12,862,5037.94%2026-06-30
Vanguard Capital Management, LLC9,692,8625.99%2026-06-30
Vanguard Portfolio Management, LLC7,414,7434.58%2026-06-30
State Street Corp6,706,9094.14%2026-06-30
AllianceBernstein L.P.4,913,3223.03%2026-06-30
Vanguard MStar Total Stk Mkt Idx Invest4,629,1292.86%2026-09-30
Geode Capital Management, LLC4,508,9332.78%2026-06-30
Linonia Partnership LP4,409,5982.72%2026-06-30
Principal Financial Group Inc4,249,3642.62%2026-09-30
Vanguard 500 Index Investor3,924,3742.42%2026-09-30
AQR Capital Management LLC3,498,3712.16%2026-06-30
T. Rowe Price Associates, Inc.3,161,5841.95%2026-06-30
Vanguard MStar Mid Cap Index Instl3,120,3021.93%2026-09-30
T. Rowe Price Investment Management,Inc.3,043,6601.88%2026-06-30
Principal MidCap R52,625,4261.62%2026-09-30

Veeva Systems: Earnings, Profitability & Valuation

Latest Financials Filed On

Earnings & Revenue

Earnings and Revenue Trajectory

AI Review

Financial results demonstrate powerful operational momentum driven by non-discretionary software subscriptions. In fiscal 2026, revenue grew 16.3% to $3.20 billion while operating income surged 32.5% to $916 million, supported by the July 2026 quarter delivering $928 million in revenue. Subscription revenues now represent over 80% of sales, providing predictable recurring cash flow across economic cycles. Behind headline expansion, cash flow generation outpaces accounting profits. Trailing twelve-month free cash flow reached $1.64 billion, reflecting an exceptional cash conversion margin above 40%. While implementation services grew quickly to support customer migrations, high-margin subscriptions remain the fundamental engine driving long-term earnings compounding.

Revenue, Net Income, and Free Cash Flow

Latest: USD 3.2B | Max: USD 3.2B | Min: USD 77.6M

RevenueFree Cash FlowNet Income
USD 4.0BUSD 3.0BUSD 2.0BUSD 1.0BUSD 0.00
3.2B
1.4B
908.9M
'17
'19
'21
'23
'25
'26

Valuation

P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.

Latest: 37x

99x74x50x25x0x
90x
65x
37x
'22'24'26

Profitability & Margins

Margins and Operating Efficiency

AI Review

Profitability margins are expanding structurally as the business achieves software economies of scale. Gross margins reached 75.5% in fiscal 2026, while operating margin expanded to 28.7%, up from 18.2% two years earlier. High pricing power in mission-critical regulatory compliance tools ensures that incremental subscription sales drop directly to operating profit. The critical operational inflection lies in shedding third-party platform licensing fees over the next three years. As customer migrations wrap up, eliminating partner royalties will structurally propel gross margins toward 78%, permanently lifting underlying profitability and protecting cash flows from broader wage inflation.

Profitability Margins

Latest: 75.5% | Max: 75.5% | Min: 14.3%

Gross MarginOperating MarginNet Margin
95.2%71.4%47.6%23.8%0.0%
75.5%
28.7%
28.4%
'17
'19
'21
'23
'25
'26

Latest Profitability Ratios as of 2026-01-31

Gross Margin

75.5%

Gross profit / revenue

Operating Margin

28.7%

Operating income / revenue

Net Margin

28.4%

Net income / revenue

FCF Margin

43.4%

Free cash flow / revenue

Source tablesView earnings, profitability & valuation tables

Revenue, Net Income, and Free Cash Flow

Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.

Scroll the table to see every column.

Annual earnings and cash flow
Period endRevenue (USD)Net income (USD)Free cash flow (USD)
2017-01-31544,043,00077,572,000137,088,000
2018-01-31690,559,000151,177,000223,805,000
2019-01-31862,210,000229,832,000302,387,000
2020-01-311,104,081,000301,118,000434,262,000
2021-01-311,465,069,000379,998,000542,563,000
2022-01-311,850,777,000427,390,000750,249,000
2023-01-312,155,060,000487,706,000766,958,000
2024-01-312,363,673,000525,705,000885,143,000
2025-01-312,746,619,000714,138,0001,069,531,999
2026-01-313,195,311,000908,906,0001,386,094,000

Published P/E Ratio

Published valuation snapshots retain each observation's earnings basis.

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Published valuation snapshots
Period endP/E (times earnings)Earnings basis
2026-01-3137Trailing four quarters
2025-01-3154.9Trailing four quarters
2024-01-3165.1Trailing four quarters
2023-01-3157.3Annual net income
2022-01-3189.8Annual net income

Profitability Margins

Matching annual reporting dates. Values are percentages.

Scroll the table to see every column.

Annual profitability margins
Period endGross margin (%)Operating margin (%)Net margin (%)Free cash flow margin (%)
2017-01-3168.0822.1814.2625.2
2018-01-3169.3822.8721.8932.41
2019-01-3171.5525.8526.6635.07
2020-01-3172.5225.9227.2739.33
2021-01-3172.0925.7925.9437.03
2022-01-3172.7927.3123.0940.54
2023-01-3171.7221.322.6335.59
2024-01-3171.3518.1622.2437.45
2025-01-3174.5325.172638.94
2026-01-3175.5328.6828.4443.38

Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-10.

Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.

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