Veeva Systems (VEEV) FY2018 results: revenue $691 million, up 25.4% on the year
Veeva Systems Inc. (VEEV) reported revenue of $691 million for fiscal 2018, the year ended 31 January 2018, up 25.4% on the year before. Net income was $151 million, up 94.9%, and diluted earnings per share $0.98. The figures are the company's own, from the 10-K it filed with the SEC on 30 March 2018.
Revenue
$691 million
+25.4% on the year
FY2012FY2018
Operating margin
22.9%
21.9% a year earlier
FY2012FY2018
Net income
$151 million
+94.9% on the year
FY2012FY2018
Diluted EPS
$0.98
+84.9% on the year
FY2012FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
691
551
409
+25.4%
Cost of revenue
211
174
142
+21.7%
Gross profit
479
377
267
+27.1%
Gross margin
69.4%
68.5%
65.2%
Research and development
132
96.8
66.0
+36.5%
Operating income
158
121
78.6
+30.9%
Operating margin
22.9%
21.9%
19.2%
Pre-tax income
166
122
78.6
+35.5%
Income tax
14.6
44.8
24.2
-67.4%
Effective tax rate
8.8%
36.6%
30.7%
Net income
151
77.6
54.5
+94.9%
Net margin
21.9%
14.1%
13.3%
Diluted EPS
$0.98
$0.53
$0.38
+84.9%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
233
144
80.2
+62.1%
Capital expenditure
9.6
6.9
21.2
+39.1%
Free cash flow
224
137
59.0
+63.3%
Free cash flow margin
32.4%
24.9%
14.4%
Cash from investing
-155
-96.8
n/a
Cash from financing
20.8
38.0
n/a
-45.3%
Depreciation and amortisation
14.3
13.8
8.5
+3.3%
Share-based compensation
54.0
40.8
24.3
+32.5%
Diluted shares, weighted
154m
148m
145m
+4.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
906
678
522
+33.6%
Debt
0.0
0.0
0.0
Other liabilities
324
240
184
+35.3%
Total liabilities and equity
1,230
918
706
+34.1%
Fixed assets
52.3
49.9
47.5
+4.8%
Goodwill
95.8
95.8
95.8
0.0%
Intangible assets
31.5
39.3
47.5
-19.8%
Investments
442
301
214
+46.6%
Cash and equivalents
320
218
132
+47.1%
Receivables
225
183
145
+22.9%
Other assets
64.1
31.0
24.0
+106.7%
Total assets
1,230
918
706
+34.1%
10-K for the year ended 31 January 2018, filed 30 March 2018: the filing.