Veeva Systems (VEEV) FY2019 results: revenue $862 million, up 24.9% on the year
Veeva Systems Inc. (VEEV) reported revenue of $862 million for fiscal 2019, the year ended 31 January 2019, up 24.9% on the year before. Net income was $230 million, up 52.0%, and diluted earnings per share $1.47. The figures are the company's own, from the 10-K it filed with the SEC on 28 March 2019.
Revenue
$862 million
+24.9% on the year
FY2012FY2019
Operating margin
25.8%
22.9% a year earlier
FY2012FY2019
Net income
$230 million
+52.0% on the year
FY2012FY2019
Diluted EPS
$1.47
+50.0% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
862
691
551
+24.9%
Cost of revenue
245
211
174
+16.0%
Gross profit
617
479
377
+28.8%
Gross margin
71.6%
69.4%
68.5%
Research and development
159
132
96.8
+20.2%
Operating income
223
158
121
+41.1%
Operating margin
25.8%
22.9%
21.9%
Pre-tax income
239
166
122
+44.0%
Income tax
8.8
14.6
44.8
-39.6%
Effective tax rate
3.7%
8.8%
36.6%
Net income
230
151
77.6
+52.0%
Net margin
26.7%
21.9%
14.1%
Diluted EPS
$1.47
$0.98
$0.53
+50.0%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
311
233
144
+33.2%
Capital expenditure
8.4
9.6
6.9
-12.4%
Free cash flow
302
224
137
+35.1%
Free cash flow margin
35.1%
32.4%
24.9%
Cash from investing
-104
-155
-96.8
Cash from financing
25.9
20.8
38.0
+24.7%
Depreciation and amortisation
14.1
14.3
13.8
-1.4%
Share-based compensation
76.4
54.0
40.8
+41.4%
Diluted shares, weighted
156m
154m
148m
+1.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,238
906
678
+36.6%
Debt
0.0
0.0
0.0
Other liabilities
416
324
240
+28.4%
Total liabilities and equity
1,654
1,230
918
+34.4%
Fixed assets
55.0
52.3
49.9
+5.1%
Goodwill
95.8
95.8
95.8
0.0%
Intangible assets
24.5
31.5
39.3
-22.1%
Investments
539
442
301
+22.0%
Cash and equivalents
551
320
218
+72.1%
Receivables
303
225
183
+35.1%
Other assets
84.8
64.1
31.0
+32.3%
Total assets
1,654
1,230
918
+34.4%
10-K for the year ended 31 January 2019, filed 28 March 2019: the filing.