Veeva Systems Inc. (VEEV) Key Metrics
VEEV valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $50.25B
- Enterprise value
- $36.75B
- P/E (TTM)
- 50.9 10-yr median 69.3
- Forward P/E
- 30.2
- PEG ratio
- 1.21
- Price / sales
- 14.5 10-yr median 14.2
- Price / book
- 5.9 10-yr median 10.1
- EV / EBITDA
- 34.2 10-yr median 50.1
- Dividend yield
- —
- Beta
- 0.93
VEEV key metrics, FY2017–FY2026
Fiscal year ended January 31, 2026 · U.S. dollarsVEEV valuation Price multiples at each fiscal year-end price.
VEEV returns How much profit the business earns on the capital it uses.
VEEV per-share figures Results divided by the shares outstanding at year-end.
VEEV financial health Debt, liquidity and how easily interest is covered.
VEEV efficiency & capital use Working capital cycle and where the cash goes.
VEEV valuation history
VEEV returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
VEEV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
VEEV cash returned to shareholders
VEEV price vs earnings per share
VEEV key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $34.05B | $38.54B | $33.91B | $27.70B | $38.39B | $44.43B | $23.21B | $17.03B | $9.66B | $6.25B |
| Enterprise value | $27.59B | $33.47B | $29.94B | $24.66B | $36.06B | $42.83B | $22.18B | $15.94B | $8.90B | $5.73B |
| P/E ratio | 37.5 | 54.0 | 64.5 | 56.8 | 89.8 | 116.9 | 77.1 | 74.1 | 63.9 | 80.5 |
| Price / sales | 10.7 | 14.0 | 14.3 | 12.9 | 20.7 | 30.3 | 21.0 | 19.7 | 14.0 | 11.5 |
| Price / book | 4.7 | 6.6 | 7.3 | 7.5 | 13.2 | 19.6 | 13.9 | 13.8 | 10.7 | 9.6 |
| Price / free cash flow | 24.6 | 36.0 | 38.3 | 36.1 | 51.2 | 81.9 | 53.4 | 56.3 | 43.2 | 45.6 |
| Price / operating cash flow | 24.1 | 35.4 | 37.2 | 35.5 | 50.2 | 80.6 | 53.1 | 54.8 | 41.4 | 43.4 |
| EV / sales | 8.6 | 12.2 | 12.7 | 11.4 | 19.5 | 29.2 | 20.1 | 18.5 | 12.9 | 10.5 |
| EV / EBITDA | 22.2 | 34.9 | 47.9 | 50.5 | 71.3 | 102.7 | 70.9 | 67.3 | 49.6 | 42.9 |
| EV / free cash flow | 19.9 | 31.3 | 33.8 | 32.2 | 48.1 | 78.9 | 51.1 | 52.7 | 39.8 | 41.8 |
| Earnings yield | 2.7% | 1.9% | 1.6% | 1.8% | 1.1% | 0.9% | 1.3% | 1.3% | 1.6% | 1.2% |
| Free cash flow yield | 4.1% | 2.8% | 2.6% | 2.8% | 2.0% | 1.2% | 1.9% | 1.8% | 2.3% | 2.2% |
| Dividend yield | — | — | — | — | 0.0% | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.5% | 0.0% | 0.2% | 0.2% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Share price at fiscal year-end | $203.92 | $233.26 | $207.41 | $170.55 | $236.54 | $276.44 | $146.61 | $109.06 | $62.86 | $42.33 |
| Per share | ||||||||||
| Revenue per share | $19.13 | $16.62 | $14.46 | $13.27 | $11.41 | $9.11 | $6.97 | $5.52 | $4.49 | $3.69 |
| Earnings per share | $5.44 | $4.32 | $3.22 | $3.00 | $2.63 | $2.36 | $1.90 | $1.47 | $0.98 | $0.53 |
| Operating cash flow per share | $8.47 | $6.60 | $5.57 | $4.80 | $4.71 | $3.43 | $2.76 | $1.99 | $1.52 | $0.98 |
| Free cash flow per share | $8.30 | $6.47 | $5.41 | $4.72 | $4.62 | $3.38 | $2.74 | $1.94 | $1.46 | $0.93 |
| Cash per share | $39.29 | $31.17 | $24.64 | $19.10 | $14.64 | $10.35 | $6.87 | $6.98 | $4.96 | $3.52 |
| Book value per share | $43.20 | $35.30 | $28.41 | $22.88 | $17.94 | $14.10 | $10.52 | $7.93 | $5.90 | $4.42 |
| Tangible book value per share | $40.39 | $32.37 | $25.34 | $19.66 | $14.60 | $10.67 | $6.90 | $7.16 | $5.07 | $3.51 |
| Dividends per share | — | — | — | — | $0.02 | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.17 | $0.12 | $0.16 | $0.08 | $0.09 | $0.05 | $0.02 | $0.05 | $0.06 | $0.05 |
| Debt per share | $0.57 | $0.46 | $0.34 | $0.38 | $0.34 | $0.39 | $0.35 | $0.04 | $0.03 | $0.04 |
| Shares outstanding | 167.0M | 165.2M | 163.5M | 162.4M | 162.3M | 160.7M | 158.3M | 156.1M | 153.7M | 147.6M |
| Change in shares outstanding | +1.1% | +1.1% | +0.6% | +0.1% | +1.0% | +1.5% | +1.4% | +1.6% | +4.1% | +1.8% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 13.9% | 13.6% | 12.6% | 14.7% | 16.5% | 19.3% | 20.7% | 21.4% | 19.4% | 13.4% |
| Return on invested capital (ROIC) | 92.5% | 75.1% | 57.0% | 69.5% | 67.2% | 56.1% | 69.7% | 141.3% | 99.8% | 50.9% |
| Return on assets (ROA) | 11.1% | 10.8% | 9.8% | 11.3% | 12.5% | 14.3% | 15.3% | 15.9% | 14.1% | 9.6% |
| Return on tangible assets | 10.7% | 10.4% | 9.7% | 11.4% | 13.1% | 15.2% | 17.7% | 15.0% | 13.7% | 9.9% |
| Free cash flow margin | 43.4% | 38.9% | 37.4% | 35.6% | 40.5% | 37.0% | 39.3% | 35.1% | 32.4% | 25.2% |
| Income quality (OCF / net income) | 1.56 | 1.53 | 1.73 | 1.60 | 1.79 | 1.45 | 1.45 | 1.35 | 1.54 | 1.86 |
| Financial health | ||||||||||
| Total debt | $95.9M | $75.8M | $55.8M | $61.0M | $54.6M | $63.1M | $54.8M | $6.9M | $5.1M | $5.2M |
| Cash & short-term investments | $6.56B | $5.15B | $4.03B | $3.10B | $2.38B | $1.66B | $1.09B | $1.09B | $762.0M | $518.9M |
| Net debt | −$6.46B | −$5.07B | −$3.97B | −$3.04B | −$2.32B | −$1.60B | −$1.03B | −$1.08B | −$756.9M | −$513.6M |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.03 | 0.01 | 0.01 | 0.01 |
| Debt / assets | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.00 | 0.00 | 0.01 |
| Net debt / EBITDA | −5.19 | −5.29 | −6.35 | −6.23 | −4.59 | −3.84 | −3.30 | −4.57 | −4.22 | −3.84 |
| Current ratio | 4.89 | 4.51 | 4.24 | 3.94 | 3.70 | 3.23 | 2.78 | 3.57 | 3.29 | 2.88 |
| Quick ratio | 4.89 | 4.51 | 4.24 | 3.94 | 3.70 | 3.23 | 2.78 | 3.57 | 3.29 | 2.88 |
| Interest coverage | — | — | — | — | — | 23.3 | 10.4 | — | — | — |
| Working capital | $6.36B | $4.91B | $3.82B | $2.96B | $2.27B | $1.59B | $980.0M | $1.03B | $702.0M | $465.1M |
| Invested capital | $749.8M | $757.9M | $672.8M | $674.6M | $590.1M | $665.8M | $633.7M | $154.5M | $149.4M | $139.4M |
| Tangible asset value | $6.74B | $5.35B | $4.14B | $3.19B | $2.37B | $1.72B | $1.09B | $1.12B | $778.9M | $517.9M |
| Net current asset value | $6.23B | $4.80B | $3.74B | $2.88B | $2.20B | $1.53B | $924.9M | $1.02B | $684.0M | $447.1M |
| Graham number | $72.74 | $58.59 | $45.34 | $39.31 | $32.61 | $27.39 | $21.22 | $16.21 | $11.42 | $7.23 |
| Graham net-net per share | $34.61 | $26.85 | $20.97 | $16.03 | $12.28 | $8.35 | $5.04 | $5.86 | $4.01 | $2.65 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | $3.8M | — | — | — | $0 | $0 |
| Share buybacks (net) | $169.9M | $0 | $78.9M | $63.0M | $55.3M | $0 | $0 | $0 | $0 | $14,000 |
| Dividend payout ratio | — | — | — | — | 0.9% | — | — | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 12.3% | 0.0% | 8.9% | 8.2% | 7.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / revenue | 0.9% | 0.7% | 1.1% | 0.6% | 0.8% | 0.6% | 0.3% | 1.0% | 1.4% | 1.3% |
| Capex / operating cash flow | 2.1% | 1.9% | 2.9% | 1.7% | 1.9% | 1.6% | 0.7% | 2.7% | 4.1% | 4.8% |
| Capex / depreciation | 0.58 | 0.52 | 0.71 | 0.36 | 0.38 | 0.22 | 0.12 | 0.63 | 0.70 | 0.53 |
| Stock-based compensation / revenue | 14.8% | 15.9% | 16.7% | 16.3% | 12.7% | 12.6% | 10.5% | 8.9% | 7.8% | 7.5% |
| R&D / revenue | 24.0% | 25.2% | 26.6% | 24.1% | 20.6% | 20.1% | 19.0% | 18.4% | 19.1% | 17.8% |
| SG&A / revenue | 22.8% | 24.1% | 26.6% | 26.3% | 24.8% | 26.2% | 27.6% | 27.3% | 27.4% | 29.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 135.2 | 129.3 | 129.2 | 125.3 | 128.8 | 128.8 | 123.0 | 118.4 | 111.2 | 109.9 |
| Days of inventory on hand | — | — | — | 0.0 | 0.0 | — | — | 0.0 | — | 0.0 |
| Days payables outstanding | 15.9 | 16.2 | 19.7 | 18.6 | 15.8 | 19.0 | 17.2 | 11.9 | 10.9 | 10.8 |
| Cash conversion cycle (days) | 119.3 | 113.1 | 109.5 | 106.7 | 113.0 | 109.8 | 105.8 | 106.5 | 100.3 | 99.1 |
| Receivables turnover | 2.70 | 2.82 | 2.82 | 2.91 | 2.83 | 2.83 | 2.97 | 3.08 | 3.28 | 3.32 |
| Payables turnover | 22.97 | 22.58 | 18.51 | 19.65 | 23.10 | 19.17 | 21.27 | 30.56 | 33.51 | 33.80 |
| Inventory turnover | — | — | — | 609,405,000.00 | 503,678,000.00 | — | — | 490,562,000.00 | — | 115,787,333.33 |
| Asset turnover | 0.39 | 0.41 | 0.44 | 0.50 | 0.54 | 0.55 | 0.56 | 0.60 | 0.64 | 0.67 |
| Average receivables | $1.18B | $972.8M | $836.9M | $739.8M | $653.0M | $517.0M | $372.0M | $279.8M | $210.4M | $163.8M |
| Average payables | $34.0M | $31.0M | $36.6M | $31.0M | $21.8M | $21.3M | $14.3M | $8.0M | $6.3M | $5.1M |
| Average inventory | — | — | — | $1 | $1 | — | — | $0 | $1 | $2 |
| Intangibles / total assets | 5.2% | 6.6% | 8.5% | 10.9% | 14.2% | 18.1% | 25.2% | 7.3% | 10.3% | 14.7% |
Computed from VEEV's annual financial statements (latest annual report filed March 20, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
VEEV valuation and financial ratios
At the end of fiscal 2026 (January 31, 2026), Veeva traded at 37.5 times earnings, against a 10-year median of 69.3. Based on the latest twelve months, the trailing P/E is 50.9 and the forward P/E is 30.2. Veeva earned a return on equity of 13.9% and a return on invested capital of 92.5% in fiscal 2026. It ended the year with $95.9 million of debt and $6.6 billion in cash and short-term investments, a net cash position of $6.5 billion. It returned $169.9 million to shareholders: $0 in dividends and $169.9 million in share buybacks, 12% of free cash flow. The share count rose 13.2% from 147.6M to 167.0M over 9 years.
See the VEEV income statement, the VEEV chart for price history, or the VEEV stock overview for the latest quote and news.
VEEV key metrics FAQ
What is Veeva's P/E ratio?
Veeva's trailing P/E ratio is 50.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 30.2. At the end of fiscal 2026 it was 37.5, compared with a 10-year median of 69.3.
What is Veeva's EV/EBITDA?
Veeva's enterprise value was 22.2 times EBITDA at the end of fiscal 2026 (enterprise value $27.6 billion, EBITDA $1.2 billion); the current EV/EBITDA is 34.2.
What is Veeva's return on equity?
Veeva's return on equity (ROE) was 13.9% in fiscal 2026: net income of $908.9 million on average shareholders' equity of $6.5 billion.
What is Veeva's ROIC?
Veeva's return on invested capital was 92.5% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Veeva have?
Veeva had total debt of $95.9 million at the end of fiscal 2026, a debt-to-equity ratio of 0.01 and more cash than debt.
Does Veeva buy back its shares?
Yes. Veeva spent $169.9 million on net share repurchases in fiscal 2026 Shares outstanding changed +1.1% over the year, to 167.0M..
What is Veeva's free cash flow yield?
Veeva generated $1.4 billion of free cash flow in fiscal 2026, a free cash flow yield of 4.1% on its market value at year-end ($34.1 billion).
What is Veeva's current ratio?
Veeva's current ratio was 4.89 at the end of fiscal 2026: current assets were 4.89 times current liabilities.