15 years of revenue, profit, cash flow and balance-sheet history through FY2026,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 16.9% per year over the past 5 years.
Net income has grown faster than revenue (19.1% vs 16.9% per year).
Operating margin has expanded, at 28.7% in the latest year.
Free cash flow has grown 46.9% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2026
$3.2B
$909M
75.5%
28.7%
—
—
$1.4B
2025
$2.7B
$714M
74.5%
25.2%
—
—
$1.1B
2024
$2.4B
$526M
71.3%
18.2%
—
—
$703M
2023
$2.2B
$488M
71.7%
21.3%
—
—
$886M
2022
$1.9B
$427M
72.8%
27.3%
—
—
$1.1B
2021
$1.5B
$380M
72.1%
25.8%
—
—
$731M
2020
$1.1B
$301M
72.5%
25.9%
$434M
—
$477M
2019
$862M
$230M
71.6%
25.8%
$302M
—
$551M
2018
$691M
$151M
69.4%
22.9%
$224M
—
$320M
2017
$551M
$78M
68.5%
21.9%
$137M
—
$218M
2016
—
$54M
—
—
—
—
$132M
2015
—
$40M
—
—
—
—
$129M
2014
—
$24M
—
—
$40M
—
$263M
2013
—
$19M
—
—
$30M
—
$32M
2012
—
$4M
—
—
$4M
—
$17M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Apr '26
$883M
$261M
75.0%
30.9%
—
—
$1.9B
Jan '26
$836M
$244M
74.5%
29.4%
—
—
$1.4B
Oct '25
$811M
$236M
75.4%
29.7%
—
—
$1.7B
Jul '25
$789M
$200M
75.3%
24.8%
—
—
$1.9B
Apr '25
$759M
$228M
77.1%
30.8%
—
—
$2.0B
Jan '25
$721M
$196M
74.9%
26.1%
—
—
$1.1B
Oct '24
$699M
$186M
75.1%
25.9%
—
—
$1.0B
Jul '24
$676M
$171M
74.8%
24.6%
—
—
$1.2B
Apr '24
$650M
$162M
73.3%
23.9%
—
—
$1.2B
Jan '24
$631M
$147M
72.4%
21.4%
—
—
$703M
Oct '23
$617M
$135M
72.8%
20.8%
—
—
$744M
Jul '23
$590M
$112M
71.4%
17.6%
—
—
$743M
Apr '23
$526M
$132M
68.3%
11.7%
—
—
$1.1B
Jan '23
$563M
$189M
70.8%
19.3%
—
—
$886M
Oct '22
$552M
$108M
72.1%
22.0%
—
—
$865M
Jul '22
$534M
$91M
71.6%
18.9%
—
—
$1.1B
Apr '22
$505M
$100M
72.4%
25.3%
—
—
$1.2B
Jan '22
—
$97M
—
—
—
—
$1.1B
Oct '21
$476M
$106M
72.8%
27.9%
—
—
$1.1B
Jul '21
$456M
$109M
73.2%
27.4%
—
—
$1.1B
Valuation over time
How the market has priced VEEV against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 61.2× (Mar '23) to 28.3× (Jun '26).
The price-to-sales ratio has fallen from 13.9× (Mar '23) to 8.0× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is VEEV growing its revenue and profit?
Over the past 5 years, Veeva Systems's revenue has grown 16.9% per year, and net income grown 19.1% per year. These are computed facts, not advice.
How much debt does VEEV have?
As of FY2026, Veeva Systems reported — of total debt against $1.4B of cash.
What is VEEV's profit margin?
In FY2026, gross margin was 75.5%, operating margin 28.7%, and net margin 28.4%.
What is VEEV's P/E ratio?
As of Jun '26, Veeva Systems traded at a price-to-earnings ratio of about 28.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.