Financials Veeva Systems Inc.

Equities

VEEV

US9224751084

Advanced Medical Equipment & Technology

Market Closed - Nyse Other stock markets 21:00:02 13/02/2026 GMT			5-day change	1st Jan Change
174.11 ^USD	+1.23%		-5.19%	-22.00%

02-03	BioDlink Modernizes Quality Management with Successful Go-Live of Veeva QMS	CI
01-08	Veeva and Biomarin form long-term strategic partnership	RE

Projected Income Statement: Veeva Systems Inc.

Fiscal Period: January	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	1,465	1,851	2,155	2,364	2,747	3,171	3,557	4,007
Change	-	26.33%	16.44%	9.68%	16.2%	15.46%	12.15%	12.68%
EBITDA ¹	612.3	786.1	859.6	875.2	1,173	1,437	1,620	1,922
Change	-	28.39%	9.35%	1.81%	34.05%	22.45%	12.75%	18.65%
EBIT ¹	582.8	758.7	830.5	842.5	1,152	1,418	1,581	1,847
Change	-	30.17%	9.47%	1.45%	36.77%	23.07%	11.49%	16.84%
Interest Paid	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	394	512.3	509.1	588	919.4	1,165	1,284	1,471
Change	-	30.03%	-0.63%	15.5%	56.35%	26.71%	10.21%	14.55%
Net income ¹	380	427.4	487.7	525.7	714.1	894.3	1,019	1,194
Change	-	12.47%	14.11%	7.79%	35.84%	25.23%	13.94%	17.18%
Announcement Date	02/03/21	02/03/22	01/03/23	29/02/24	05/03/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: January	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1	2028 Q2	2028 Q3
Net sales ¹	396.8	433.6	455.6	476.1	485.5	505.1	534.2	552.4	563.4	526.3	590.2	616.5	630.6	650.3	676.2	699.2	720.9	759	789.1	811.2	810.9	846.7	883	909.6	917.6	941	977.6	1,008
Change	-	9.28%	5.08%	4.5%	1.97%	4.04%	5.76%	3.39%	2%	-6.58%	12.14%	4.45%	2.29%	3.13%	3.97%	3.41%	3.1%	5.29%	3.96%	2.81%	-0.04%	4.41%	4.29%	3.01%	0.88%	2.55%	3.88%	3.15%
EBITDA ¹	159.9	188	198.5	206.3	193.3	206.6	209.3	226.7	217.1	164.5	219.9	243	247.7	264.6	285.9	309.1	313.6	355.8	358.6	370.8	359	389.2	402.4	417.7	412.5	450.1	468.3	485.2
Change	-	17.57%	5.57%	3.97%	-6.33%	6.89%	1.29%	8.31%	-4.24%	-24.19%	33.66%	10.48%	1.93%	6.82%	8.05%	8.14%	1.43%	13.46%	0.8%	3.4%	-3.18%	8.41%	3.38%	3.79%	-1.23%	9.11%	4.04%	3.61%
EBIT ¹	153.2	181.4	191.6	199.4	186.3	199.6	202	219.5	209.4	157	211.8	234.6	239.1	260.9	279.8	304	307.7	349.9	352.6	364.9	352	380	393.4	409.7	407.3	444	462.1	481.9
Change	-	18.41%	5.64%	4.1%	-6.62%	7.14%	1.25%	8.64%	-4.61%	-25.02%	34.94%	10.75%	1.89%	9.12%	7.24%	8.68%	1.21%	13.71%	0.77%	3.5%	-3.54%	7.97%	3.52%	4.13%	-0.57%	9.01%	4.06%	4.29%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	105.3	133	126.3	133.5	119.5	130.4	109.5	133.9	135.4	91.78	142.9	170.7	182.7	206.9	225.1	242.3	245.1	298.8	265.4	312.8	298.5	322.5	329.2	334.9	335.9	-	-	-
Change	-	26.32%	-5.05%	5.73%	-10.52%	9.12%	-16.02%	22.26%	1.12%	-32.2%	55.67%	19.46%	7.04%	13.25%	8.78%	7.66%	1.17%	21.9%	-11.2%	17.87%	-4.58%	8.05%	2.07%	1.75%	0.3%	-	-	-
Net income ¹	102.9	115.6	108.9	105.9	97.1	100.1	90.6	108.5	188.5	131.5	111.6	135.2	147.4	161.7	171	185.8	195.6	228.2	200.3	236.2	224.4	249.5	257.5	267.7	265.1	300	317.8	329.3
Change	-	12.29%	-5.81%	-2.75%	-8.29%	3.11%	-9.5%	19.71%	73.83%	-30.24%	-15.13%	21.08%	9.06%	9.68%	5.8%	8.63%	5.28%	16.65%	-12.22%	17.92%	-5.01%	11.21%	3.19%	3.98%	-0.97%	13.13%	5.93%	3.63%
Announcement Date	02/03/21	27/05/21	01/09/21	01/12/21	02/03/22	01/06/22	31/08/22	01/12/22	01/03/23	31/05/23	30/08/23	06/12/23	29/02/24	30/05/24	28/08/24	05/12/24	05/03/25	28/05/25	27/08/25	20/11/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Veeva Systems Inc.

Fiscal Period: January	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-1,664	-2,376	-3,103	-4,028	-5,150	-6,647	-8,317	-9,448
Change	-	-42.79%	-30.6%	-29.81%	-27.86%	-29.06%	-25.12%	-13.6%
Announcement Date	02/03/21	02/03/22	01/03/23	29/02/24	05/03/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Veeva Systems Inc.

Fiscal Period: January	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	8.683	14.21	13.51	26.2	20.52	28.52	30.69	32.89
Change	-	63.7%	-4.94%	93.87%	-21.67%	38.99%	7.61%	7.18%
Free Cash Flow (FCF) ¹	542.6	750.2	767	885.1	1,070	1,329	1,536	1,708
Change	-	38.28%	2.23%	15.41%	20.83%	24.29%	15.55%	11.22%
Announcement Date	02/03/21	02/03/22	01/03/23	29/02/24	05/03/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Veeva Systems Inc.

Fiscal Period: January	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	41.79%	42.47%	39.89%	37.03%	42.71%	45.3%	45.54%	47.95%
EBIT Margin (%)	39.78%	40.99%	38.54%	35.64%	41.95%	44.72%	44.46%	46.1%
EBT Margin (%)	26.89%	27.68%	23.62%	24.88%	33.47%	36.74%	36.1%	36.7%
Net margin (%)	25.94%	23.09%	22.63%	22.24%	26%	28.2%	28.65%	29.79%
FCF margin (%)	37.03%	40.54%	35.59%	37.45%	38.94%	41.92%	43.19%	42.63%
FCF / Net Income (%)	142.78%	175.54%	157.26%	168.37%	149.77%	148.65%	150.76%	143.08%
Profitability
ROA	14.29%	17.62%	16.14%	14.76%	16.46%	13.25%	12.82%	12.16%
ROE	24.07%	23.36%	20.99%	18.92%	20.82%	18.07%	16.66%	17.02%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	0.59%	0.77%	0.63%	1.11%	0.75%	0.9%	0.86%	0.82%
CAPEX / EBITDA (%)	1.42%	1.81%	1.57%	2.99%	1.75%	1.99%	1.89%	1.71%
CAPEX / FCF (%)	1.6%	1.89%	1.76%	2.96%	1.92%	2.15%	2%	1.93%
Items per share
Cash flow per share ¹	3.43	4.711	4.805	5.574	6.597	8.517	9.361	10.41
Change	-	37.34%	1.99%	16.02%	18.35%	29.1%	9.92%	11.2%
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	15.04	18.88	22.88	28.41	35.3	44.9	52.99	61.49
Change	-	25.53%	21.16%	24.18%	24.24%	27.21%	18.01%	16.05%
EPS ¹	2.36	2.63	3	3.22	4.32	5.296	5.922	6.823
Change	-	11.44%	14.07%	7.33%	34.16%	22.6%	11.82%	15.2%
Nbr of stocks (in thousands)	151,466	153,764	155,688	161,016	162,350	164,382	164,382	164,382
Announcement Date	02/03/21	02/03/22	01/03/23	29/02/24	05/03/25	-	-	-