Veeva Systems (VEEV) AI Stock Analysis

• Market Cap: $36.86B
• Dividend Yield: N/A
• Average Volume (3M): 1.79M
• Price to Earnings (P/E): 43.6
• Beta (1Y): 1.03
• Revenue Growth: 15.96%
• EPS Growth: 27.91%
• Country: US
• Employees: 7,291
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Information Services
• EPS (TTM): 2.04
• Shares Outstanding: 164,381,850
• 10 Day Avg. Volume: 2,135,589
• 30 Day Avg. Volume: 1,791,293
• PEG Ratio: 1.52
• Price to Book (P/B): 6.47
• Price to Sales (P/S): 13.75
• P/FCF Ratio: 35.31
• Enterprise Value/Market Cap: 1.16
• Enterprise Value/Revenue: 13.85
• Enterprise Value/Gross Profit: 18.30
• Enterprise Value/Ebitda: 46.93
• 1Y Price Target: $316.81
• Price Target Upside: 41.27% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 23
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: $264.00 ▲(17.72% Upside)

Veeva Systems' strong financial performance and strategic initiatives in AI and Crossix are significant positives. However, bearish technical indicators and a high P/E ratio suggest caution. The balanced sentiment from the earnings call reflects both opportunities and challenges, resulting in a moderate overall stock score.

Positive Factors

Revenue Growth

Exceeding revenue expectations indicates strong demand and effective execution, supporting long-term growth and market leadership.

AI Innovation

Veeva's focus on AI innovation enhances its product offerings, potentially increasing efficiency and customer satisfaction, driving future growth.

Strong Cash Flow

Robust cash flow conversion supports operational flexibility and strategic investments, ensuring long-term financial health and stability.

Negative Factors

CRM Customer Migration Risks

Potential loss of CRM customers to competitors could impact revenue, challenging Veeva's market position in this segment.

Moderating Revenue Growth

Slower revenue growth could indicate market saturation or increased competition, potentially affecting future earnings and expansion.

Loss of EDC Customer

Losing a key customer to a competitor may signal competitive pressures in the EDC market, impacting Veeva's growth prospects.

Veeva Systems Business Overview & Revenue Model

Company Description

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, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety. It also provides professional and support services in the areas of implementation and deployment planning and project management; requirements analysis, solution design, and configuration; systems environment management and deployment services; services focused on advancing or transforming business and operating processes related to Veeva solutions; technical consulting services related to data migration and systems integrations; training on its solutions; and ongoing managed services that include 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.

How the Company Makes Money

Veeva Systems generates revenue primarily through a subscription-based model, where clients pay for access to its cloud-based software solutions. The company offers various pricing tiers based on the specific services and features utilized by its customers. Key revenue streams include subscriptions for its core products like Veeva Vault and Veeva CRM, as well as additional services such as consulting and support. Veeva also derives income from multi-year contracts with clients, which provide predictable long-term revenue. Significant partnerships with major pharmaceutical companies and strategic alliances in the life sciences ecosystem further enhance its market position and contribute to sustained earnings growth, as these collaborations often lead to increased adoption of Veeva's platform and services.

Veeva Systems Financial Statement Overview

Summary

Veeva Systems exhibits strong financial performance with consistent revenue growth, high profitability margins, and a robust balance sheet. The company maintains low leverage and generates substantial cash flows, supporting its operational and strategic initiatives. While revenue and free cash flow growth have moderated, the company's financial stability and efficiency remain commendable.

Income Statement

Veeva Systems demonstrates strong financial performance with consistent revenue growth and robust profitability margins. The TTM data shows a gross profit margin of 75.67% and a net profit margin of 27.93%, indicating efficient cost management and strong profitability. The revenue growth rate of 3.77% in the TTM period, although lower than previous years, still reflects positive growth. Overall, the company maintains healthy EBIT and EBITDA margins, showcasing operational efficiency.

Balance Sheet

The balance sheet of Veeva Systems is solid, characterized by a low debt-to-equity ratio of 0.0128, indicating minimal leverage and financial risk. The return on equity (ROE) is 13.40% in the TTM period, reflecting effective use of equity to generate profits. The equity ratio stands at a strong 86.93%, highlighting the company's reliance on equity financing and a stable financial structure.

Cash Flow

Veeva Systems shows strong cash flow generation with a free cash flow to net income ratio of 98.77% in the TTM period, indicating efficient conversion of earnings into cash. The operating cash flow to net income ratio is 145.83%, demonstrating robust cash flow from operations. Free cash flow growth of 2.47% in the TTM period, while positive, suggests a slower growth trajectory compared to previous periods.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.75B	2.36B	2.16B	1.85B	1.47B
Gross Profit	2.05B	1.69B	1.55B	1.35B	1.06B
EBITDA	730.82M	461.96M	488.21M	532.94M	407.25M
Net Income	714.14M	525.71M	487.71M	427.39M	380.00M
Balance Sheet
Total Assets	7.34B	5.91B	4.80B	3.82B	3.05B
Cash, Cash Equivalents and Short-Term Investments	5.15B	4.03B	3.10B	2.38B	1.66B
Total Debt	75.78M	55.77M	60.98M	54.59M	63.12M
Total Liabilities	1.51B	1.27B	1.09B	904.83M	779.75M
Stockholders Equity	5.83B	4.64B	3.72B	2.91B	2.27B
Cash Flow
Free Cash Flow	1.07B	885.14M	766.96M	750.25M	542.56M
Operating Cash Flow	1.09B	911.34M	780.47M	764.46M	551.25M
Investing Cash Flow	-700.14M	-1.08B	-1.01B	-346.15M	-333.63M
Financing Cash Flow	26.11M	-16.19M	-19.38M	-4.14M	33.82M

Veeva Systems Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 224.26
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VEEV, the sentiment is Negative. The current price of 224.26 is below the 20-day moving average (MA) of 231.12, below the 50-day MA of 263.85, and below the 200-day MA of 263.89, indicating a bearish trend. The MACD of -12.64 indicates Negative momentum. The RSI at 30.60 is Neutral, neither overbought nor oversold. The STOCH value of 42.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VEEV.

Veeva Systems Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GEHC	78 Outperform	$37.95B	17.23	24.22%	0.17%	3.52%	32.21%
HQY	76 Outperform	$7.92B	42.48	9.01%	―	12.20%	98.75%
DOCS	72 Outperform	$8.20B	34.72	24.61%	―	20.21%	44.14%
BTSG	67 Neutral	$6.81B	63.07	4.25%	―	17.23%	―
VEEV	66 Neutral	$36.86B	43.58	13.72%	―	15.96%	27.91%
TEM	52 Neutral	$11.51B	-54.68	-72.61%	―	72.58%	76.81%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Veeva Systems Corporate Events

Veeva Systems Announces Chief Accounting Officer Resignation

On November 17, 2025, Veeva Systems Inc. announced that Kristine Diamond, the Chief Accounting Officer, will resign from her position effective December 11, 2025. Following her departure, Brian Van Wagener, the Chief Financial Officer, will temporarily assume the role of principal accounting officer until a successor is appointed.