Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $551M | $691M | $862M | $1.10B | $1.47B | $1.85B | $2.16B | $2.36B | $2.75B | $3.20B |
| Revenue growth | — | 25.4% | 24.9% | 28.1% | 32.7% | 26.3% | 16.4% | 9.7% | 16.2% | 16.3% |
| Gross profit | $377M | $479M | $617M | $801M | $1.06B | $1.35B | $1.55B | $1.69B | $2.05B | $2.41B |
| Gross margin | 68.5% | 69.4% | 71.6% | 72.5% | 72.1% | 72.8% | 71.7% | 71.3% | 74.5% | 75.5% |
| Operating income | $121M | $158M | $223M | $286M | $378M | $505M | $459M | $429M | $691M | $916M |
| Operating margin | 21.9% | 22.9% | 25.8% | 25.9% | 25.8% | 27.3% | 21.3% | 18.2% | 25.2% | 28.7% |
| Net income | $77.6M | $151M | $230M | $301M | $380M | $427M | $488M | $526M | $714M | $909M |
| Net margin | 14.1% | 21.9% | 26.7% | 27.3% | 25.9% | 23.1% | 22.6% | 22.2% | 26.0% | 28.4% |
| EPS (diluted) | $0.53 | $0.98 | $1.47 | $1.90 | $2.36 | $2.63 | $3.00 | $3.22 | $4.32 | $5.44 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $144M | $233M | $311M | $437M | $551M | $764M | $780M | $911M | $1.09B | $1.42B |
| Capital expenditures | $6.92M | $9.63M | $8.44M | $3.11M | — | — | — | — | — | — |
| Free cash flow | $137M | $224M | $302M | $434M | — | — | — | — | — | — |
| Share buybacks | — | — | — | — | — | — | — | $0.00 | $0.00 | $170M |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $218M | $320M | $551M | $477M | $731M | $1.14B | $886M | $703M | $1.12B | $1.42B |
| Total assets | $917M | $1.23B | $1.65B | $2.27B | $3.05B | $3.82B | $4.80B | $5.91B | $7.34B | $8.98B |
| Total liabilities | $265M | $324M | $416M | $606M | $780M | $905M | $1.09B | $1.27B | $1.51B | $1.76B |
| Shareholders' equity | $678M | $906M | $1.24B | $1.67B | $2.27B | $2.91B | $3.72B | $4.64B | $5.83B | $7.21B |
| Retained earnings | $213M | $389M | $619M | $920M | $1.30B | $1.73B | $2.21B | $2.74B | $3.45B | $4.36B |
| Shares (wtd avg diluted) | 148M | 154M | 156M | 158M | 161M | 162M | 162M | 163M | 165M | 167M |
Every figure is extracted from VEEVA SYSTEMS INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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