Veeva Systems Inc.VEEV
NYSE•Healthcare•Health Information Services
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.
Veeva Systems Inc. (VEEV) reported trailing twelve months revenue of $3.32B as of April 2026, a 16.2% increase year-over-year. Quarterly revenue reached $882.95M, reflecting continued top-line momentum.
Veeva Systems Inc. generated $941.65M in TTM net income, with quarterly EBITDA of $273.11M. The operating margin expanded from 30.8% to 30.9%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (30.9%) and net margin (29.6%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 30.1% a year ago, reflecting increased costs or interest expense.
VEEV trades at a P/E of 27.4x (in line with broad market averages) and a P/S of 7.8x. The price-to-book ratio of 3.5x reflects a moderate premium to book value.
The company generated $1.13B in free cash flow over the trailing twelve months, a 28.5% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $9.13B in total assets with no in long-term debt against $7.30B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~27.8%, suggesting durable pricing power and cost discipline.
ROE is positive at ~12.3% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~29.0% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~28.7% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation