Veeva Systems (VEEV) FY2016 results: revenue $409 million, up 30.6% on the year
Veeva Systems Inc. (VEEV) reported revenue of $409 million for fiscal 2016, the year ended 31 January 2016, up 30.6% on the year before. Net income was $54 million, up 34.9%, and diluted earnings per share $0.38. The figures are the company's own, from the 10-K it filed with the SEC on 31 March 2016.
Revenue
$409 million
+30.6% on the year
FY2012FY2016
Operating margin
19.2%
22.3% a year earlier
FY2012FY2016
Net income
$54 million
+34.9% on the year
FY2012FY2016
Diluted EPS
$0.38
+35.7% on the year
FY2012FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
409
313
210
+30.6%
Cost of revenue
142
116
82.6
+23.0%
Gross profit
267
198
128
+35.1%
Gross margin
65.2%
63.1%
60.7%
Research and development
66.0
41.2
26.3
+60.3%
Operating income
78.6
70.0
39.3
+12.3%
Operating margin
19.2%
22.3%
18.7%
Pre-tax income
78.6
67.2
38.5
+17.0%
Income tax
24.2
26.8
14.9
-9.9%
Effective tax rate
30.7%
39.9%
38.7%
Net income
54.5
40.4
23.6
+34.9%
Net margin
13.3%
12.9%
11.2%
Diluted EPS
$0.38
$0.28
$0.15
+35.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
80.2
67.6
41.8
+18.6%
Capital expenditure
21.2
26.5
1.9
-20.3%
Free cash flow
59.0
41.0
39.9
+43.8%
Free cash flow margin
14.4%
13.1%
19.0%
Cash from investing
n/a
n/a
-26.6
Cash from financing
n/a
n/a
215
Depreciation and amortisation
8.5
3.9
2.4
+115.4%
Share-based compensation
24.3
14.3
7.0
+69.3%
Diluted shares, weighted
145m
144m
68m
+0.5%
Shares outstanding at period end
n/a
n/a
0
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
522
407
280
+28.3%
Debt
0.0
0.0
0.0
Other liabilities
184
138
90.2
+33.1%
Total liabilities and equity
706
545
370
+29.5%
Fixed assets
47.5
28.2
2.4
+68.3%
Goodwill
95.8
4.8
4.8
+1,875.3%
Intangible assets
47.5
4.9
6.6
+868.6%
Investments
214
269
25.6
-20.3%
Cash and equivalents
132
129
263
+2.3%
Receivables
145
92.7
58.4
+56.3%
Other assets
24.0
16.4
9.9
+46.5%
Total assets
706
545
370
+29.5%
10-K for the year ended 31 January 2016, filed 31 March 2016: the filing.