Veeva Systems Inc Class A (VEEV)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $48.5B, Veeva Systems Inc Class A's free cash flow of $1.4B (fiscal 2026) would need to grow about 12% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Veeva Systems Inc Class A's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from VEEV's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Veeva Systems Inc Class A's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $1.9B | $2.2B | $2.4B | $2.7B | $3.2B |
| Net income | $427M | $488M | $526M | $714M | $909M |
| Free cash flow | $750M | $767M | $885M | $1.1B | $1.4B |
| EPS (diluted) | $2.63 | $3.00 | $3.22 | $4.32 | $5.44 |
| Operating margin | 27.3% | 21.3% | 18.2% | 25.2% | 28.7% |
Where the revenue comes from
Revenue by products, fiscal 2026.
Superinvestors who own VEEV
From each investor's latest 13F filing (what a 13F shows). 6 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Cliff Asness AQR Capital Management |
Added | $615M | 0.22% | Q2 2026 |
| Sean Stannard-Stockton Ensemble Capital Management |
Trimmed | $34M | 2.9% | Q3 2024 |
| Ron Baron Baron Capital (BAMCO) |
Trimmed | $30M | 0.04% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $22M | 0.05% | Q2 2026 |
| Francois Rochon Giverny Capital Inc. |
New position | $17M | 0.57% | Q2 2026 |
| C.T. Fitzpatrick Vulcan Value Partners |
New position | $4M | 0.12% | Q2 2026 |
Insider buying
Open-market purchases by Veeva Systems Inc Class A's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
What growth does Veeva Systems Inc Class A's stock price imply?
At a market value of $48.5B, Veeva Systems Inc Class A would need its free cash flow to grow about 12% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 29% a year.
Are Veeva Systems Inc Class A insiders buying the stock?
No open-market insider purchases of VEEV in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own Veeva Systems Inc Class A?
6 of the superinvestors Investingly tracks hold VEEV in their latest 13F, including Cliff Asness, Sean Stannard-Stockton, Ron Baron.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.