Veeva Systems (VEEV) FY2017 results: revenue $551 million, up 34.5% on the year
Veeva Systems Inc. (VEEV) reported revenue of $551 million for fiscal 2017, the year ended 31 January 2017, up 34.5% on the year before. Net income was $78 million, up 42.4%, and diluted earnings per share $0.53. The figures are the company's own, from the 10-K it filed with the SEC on 30 March 2017.
Revenue
$551 million
+34.5% on the year
FY2012FY2017
Operating margin
21.9%
19.2% a year earlier
FY2012FY2017
Net income
$78 million
+42.4% on the year
FY2012FY2017
Diluted EPS
$0.53
+39.5% on the year
FY2012FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
551
409
313
+34.5%
Cost of revenue
174
142
116
+22.1%
Gross profit
377
267
198
+41.1%
Gross margin
68.5%
65.2%
63.1%
Research and development
96.8
66.0
41.2
+46.6%
Operating income
121
78.6
70.0
+53.6%
Operating margin
21.9%
19.2%
22.3%
Pre-tax income
122
78.6
67.2
+55.6%
Income tax
44.8
24.2
26.8
+85.4%
Effective tax rate
36.6%
30.7%
39.9%
Net income
77.6
54.5
40.4
+42.4%
Net margin
14.1%
13.3%
12.9%
Diluted EPS
$0.53
$0.38
$0.28
+39.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
144
80.2
67.6
+79.7%
Capital expenditure
6.9
21.2
26.5
-67.3%
Free cash flow
137
59.0
41.0
+132.3%
Free cash flow margin
24.9%
14.4%
13.1%
Cash from investing
-96.8
n/a
n/a
Cash from financing
38.0
n/a
n/a
Depreciation and amortisation
13.8
8.5
3.9
+63.3%
Share-based compensation
40.8
24.3
14.3
+68.2%
Diluted shares, weighted
148m
145m
144m
+1.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
678
522
407
+29.9%
Debt
0.0
0.0
0.0
Other liabilities
240
184
138
+30.3%
Total liabilities and equity
918
706
545
+30.0%
Fixed assets
49.9
47.5
28.2
+5.1%
Goodwill
95.8
95.8
4.8
0.0%
Intangible assets
39.3
47.5
4.9
-17.3%
Investments
301
214
269
+40.8%
Cash and equivalents
218
132
129
+64.6%
Receivables
183
145
92.7
+26.3%
Other assets
31.0
24.0
16.4
+29.1%
Total assets
918
706
545
+30.0%
10-K for the year ended 31 January 2017, filed 30 March 2017: the filing.