Value Investor
Start free

Veeva Systems

VEEV on NYSE. Veeva sells software and data to life sciences companies. Market value $45.9bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to July 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to January 2026.

We can't read total debt from the filing, so debt is left out.

Cash flow or capital spending isn't reported, so free cash flow is unknown.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
annual report to January 2026
n/a

We could not compute this from the filings.

Price to profit
past 12 months to July 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to January 2026
n/a

The filings do not give us enough to work this out.

Quality score: not known. Price score: not known. Our list needs 70 on quality and 60 on price.

$283.50 a share, 91% above its 1-year low

Over the past year the price has ranged from $148.05 to $310.50.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
n/a
n/a
n/a
n/a
20222023202420252026
Revenue
$1.9bn$2.2bn$2.4bn$2.7bn$3.2bn
Operating margin
27.3%21.3%18.2%25.2%28.7%
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.16bn0.16bn0.16bn0.16bn0.16bn

Health checks

  • Free cash flow positiveNot enough data
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)6 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • DebtUnknown
  • Revenue growth, five yearsStrong, 16.9% a year
  • Buying back its own sharesRoughly flat

The quarter to July 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $928 million last quarter, up 18% on a year ago.
  • Profit: $273 million, up 37% on a year ago.
  • It keeps 30 cents of each $1 of sales as operating profit, up from 27 cents a year earlier.
  • 2% fewer shares than a year ago. Each share owns a bit more of the company.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
October 2024$699m
January 2025$721m
April 2025$759m
July 2025$789m
October 2025$811m
January 2026$836m
April 2026$883m
July 2026$928m
Profit by quarter
Profit by quarter
Quarter toAmount
October 2024$186m
January 2025$196m
April 2025$228m
July 2025$200m
October 2025$236m
January 2026$244m
April 2026$261m
July 2026$273m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
25 November 2026
Last annual report (10-K)
20 March 2026
Next quarterly (estimated, 10-Q)
26 November 2026

Who owns it

12 long-term investors we follow own it, up from 7 last quarter. 1,061 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

2 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 3 sold $16m, $14m of it under preset trading plans.

  • Schwenger Thomas D.
    Pres. & Chief Customer Officer
    Sold
    under a preset trading plan
    Date
    14 September 2026
    Shares
    1,000
    Price
    $265.20
    Value
    $265,200
  • Hung Priscilla
    Director
    Sold
    Date
    9 September 2026
    Shares
    750
    Price
    $261.04
    Value
    $195,780
  • Schwenger Thomas D.
    Pres. & Chief Customer Officer
    Sold
    under a preset trading plan
    Date
    27 August 2026
    Shares
    10,000
    Price
    $281.33
    Value
    $3m
  • Schwenger Thomas D.
    Pres. & Chief Customer Officer
    Sold
    under a preset trading plan
    Date
    13 August 2026
    Shares
    36,000
    Price
    $250.23
    Value
    $9m
  • Schwenger Thomas D.
    Pres. & Chief Customer Officer
    Sold
    under a preset trading plan
    Date
    16 July 2026
    Shares
    5,000
    Price
    $200.00
    Value
    $1m
  • Hung Priscilla
    Director
    Sold
    under a preset trading plan
    Date
    30 April 2026
    Shares
    750
    Price
    $155.64
    Value
    $116,730
  • Hung Priscilla
    Director
    Sold
    under a preset trading plan
    Date
    10 April 2026
    Shares
    750
    Price
    $153.50
    Value
    $115,125
  • Schwenger Thomas D.
    Pres. & Chief Customer Officer
    Sold
    under a preset trading plan
    Date
    5 March 2026
    Shares
    1,000
    Price
    $200.00
    Value
    $200,000
  • Schwenger Thomas D.
    Pres. & Chief Customer Officer
    Sold
    under a preset trading plan
    Date
    13 January 2026
    Shares
    1,000
    Price
    $231.43
    Value
    $231,430
  • Zuppas Eleni Nitsa
    President & Chief of Staff
    Sold
    Date
    7 October 2025
    Shares
    6,000
    Price
    $306.62
    Value
    $2m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.