Veeva Systems Inc. (VEEV)财务
NYSE · Technology · Software - Application · 员工7,928人 · CEO Peter Gassner
- 股价
- $312.96 +0.84%
- 市值
- $507亿
- 企业价值
- $490亿
- 最近财报
- Q2 '27 2026-08-27提交
- 下次财报
- 2026-11-25 EPS预期 $2.33
营收(TTM)$34.6亿+16.5% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)29.9%+3.0 百分点 对比去年同期营业利润 $10.3亿
净利润(TTM)$10.1亿+25.3% 对比去年同期税后,含营业外收益
自由现金流(TTM)$16.4亿+23.7% 对比去年同期资本支出 $2310万
稀释EPS(TTM)$6.08+25.1% 对比去年同期最近4个季度之和
净现金$70.9亿+12.2% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $507亿 EV $490亿
- 营收
- $34.6亿 过去12个月
- 营收增速
- +16% FY2027年一致预期
- 净利润率
- 29.3% 净利润 / 营收,TTM
- P/E
- 50.4× 预期 33.9×(FY2027)
- P/S
- 14.7× 股价 / 营收,TTM
- EV / EBITDA
- 37.8× TTM
- 自由现金流
- $16.4亿 过去12个月
- 净利润
- $10.1亿 过去12个月
- 营收预期
- $36.9亿 FY2027年一致预期
- 盈利
- 2026-11-25 营收预期 $9.35亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-26):营收超预期2.5%,EPS 超预期5.4%营收$9.28亿,预期$9.05亿(+2.5%);EPS $2.35,预期$2.23(+5.4%)。
- 营收增长加速:同比17.6%Q2 '27营收$9.28亿,此前四个季度的平均值为16.3%。
- 营业利润率29.9%(TTM),较去年同期+3.0 百分点营收增长16.5%,营业利润增长29.5%。
- 税前利润的22.0%来自营业外收益税前利润$13.3亿,营业利润$10.3亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的0.7%(去年为0.7%)最近4个季度投入$2310万(同比+9.0%)。自由现金流$16.4亿,相当于净利润的161.8%。
- 股东回报$6.43亿 = 自由现金流的39.1%回购$6.43亿(去年为$0),股息$0,股权激励$2.55亿(TTM)。
- 稀释股数一年内减少1.3%Q2 '27稀释股数1.65亿,一年前为1.67亿。
- 净现金 $70.9亿现金 + 短期投资 $72.4亿,含租赁债务 $1.52亿;一年前净现金 $63.2亿。
上一季度:Q2 '27
截至2026-07-31的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '27 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $9.28亿 | $7.89亿 | +17.6% |
| 毛利率 | 75.0% | 75.3% | -0.3 百分点 |
| 营业利润 | $2.75亿 | $1.96亿 | +40.4% |
| 营业利润率 | 29.6% | 24.8% | +4.8 百分点 |
| 净利润 | $2.73亿 | $2亿 | +36.5% |
| 稀释EPS | $1.66 | $1.19 | +39.5% |
| 经营现金流 | $2.39亿 | $2.38亿 | +0.1% |
| 资本支出 | $802万 | $630万 | +27.3% |
| 自由现金流 | $2.31亿 | $2.32亿 | -0.6% |
| R&D | $2.23亿 | $1.93亿 | +15.7% |
| 股权激励费用 | $1.37亿 | -$194万 | +7,148.1% |
实际 vs 一致预期
2026-08-26| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $9.28亿 | $9.05亿 | +2.5% |
| EPS(一致预期口径) | $2.35 | $2.23 | +5.4% |
来自2026-08-26发布的Q2 '27财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Subscription Services Veeva Commercial Cloud | $3.47亿 | +13.0% | 85.3% | – | – | |
| Subscription Services Veeva Research And Development | – | – | – | – | – | |
| Professional Services Veeva Commercial Cloud | $5970万 | +25.2% | 14.7% | – | – | |
| Professional Services Veeva Research And Development | – | – | – | – | – |
按地区划分的营收
占总额比例| 分部 | Q2 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| North America | $5.49亿 | +17.3% | 60.4% | – | – | |
| Europe | $2.84亿 | +22.0% | 31.2% | – | – | |
| Asia Pacific | $7630万 | +8.8% | 8.4% | – | – | |
| Middle East, Africa, And Latin America | – | – | – | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $16.7亿
- 资本支出
- -$2310万
- 股票回购
- -$6.43亿
- 股息
- $0
- 收购
- -$8180万
- 债务净发行
- $0
- 股权激励费用
- $2.55亿
- 自由现金流
- $16.4亿
- 股东回报 / FCF
- 39.1%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 50.4× | 58.4× | 36.7× – 84.8× |
| EV / EBITDA | 37.8× | 45.4× | 25.7× – 64.0× |
| EV / 营收 | 14.2× | 13.6× | 10.0× – 19.0× |
| 股价 / FCF | 30.9× | 36.0× | 24.1× – 48.3× |
| 股价 / 净资产 | 6.8× | 7.6× | 4.6× – 12.5× |
| FCF收益率 | 3.2% | 2.9% | 2.1% – 4.2% |
| 投入资本回报率 | 10.4% | 10.5% | 8.1% – 14.1% |
| 净资产收益率 | 14.0% | 12.8% | 11.3% – 14.7% |
分析师
一致目标价 $300.50 (-4.0%)
区间 $165.00 – $375.00 · 评级 Buy
强烈买入0
买入29
持有13
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $36.9亿 | +15.5% | $9.24 | +69.8% | 33.9× | 17 |
| FY2028 | $41.4亿 | +12.3% | $10.28 | +11.3% | 30.5× | 16 |
| FY2029 | $46.5亿 | +12.3% | $11.55 | +12.3% | 27.1× | 8 |
| FY2030 | $52亿 | +11.7% | $12.82 | +11.1% | 24.4× | 3 |
| FY2031 | $58.5亿 | +12.7% | $14.50 | +13.0% | 21.6× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Veeva Systems Inc.在近期10-Q / 10-K文件中标记的全部230项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $3600万 | $3360万 | +7.1% | $3760万 | $3040万 | +23.6% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $4.97亿 | $4.22亿 | +17.7% | $12.6亿 | $10.2亿 | +23.9% |
| Accounts Receivable, Allowance for Credit Loss, Current | $9.7万 | $60.2万 | -83.9% | $25.6万 | $5.7万 | +349.1% |
| Accretion (Amortization) of Discounts and Premiums, Investments | $105万 | $203万 | -48.0% | $969万 | $2440万 | -60.3% |
| Accrued Income Taxes, Current | $302万 | $366万 | -17.6% | $670万 | $902万 | -25.8% |
| Accrued Liabilities and Other Liabilities | $4960万 | $5880万 | -15.6% | $4590万 | $3560万 | +29.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $3370万2026-01-31 | $3150万 | +7.2% | $3370万 | $3150万 | +7.2% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$4610万 | -$200万 | -2,210.8% | $816万 | -$842万 | +197.0% |
| Additional Paid in Capital, Common Stock | $25.8亿 | $27.6亿 | -6.4% | $28.4亿 | $23.9亿 | +19.1% |
| Amortization of Deferred Charges | $500万 | $400万 | +25.0% | $1600万 | $1600万 | 0.0% |
| Amortization of Intangible Assets | $400万 | $400万 | 0.0% | $1400万 | $1900万 | -26.3% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1100万 | 730万 | +50.2% | 955万 | 861万 | +10.9% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $1.37亿 | $1.23亿 | +11.5% | $4.77亿 | $4.45亿 | +7.1% |
| Assets | $90.6亿 | $80亿 | +13.3% | $89.8亿 | $73.4亿 | +22.3% |
| Assets, Current | $79.5亿 | $69.9亿 | +13.6% | $80亿 | $63.1亿 | +26.8% |
| Assets, Fair Value Disclosure | $59.9亿 | – | – | $54.3亿 | $43.5亿 | +24.8% |
| Capitalized Contract Cost, Impairment Loss | $0 | $0 | – | $0 | $0 | – |
| Cash and Cash Equivalents, at Carrying Value | $18.1亿 | $19.3亿 | -6.1% | $14.2亿 | $11.2亿 | +27.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $18.1亿 | $19.3亿 | -6.1% | $14.2亿 | $11.2亿 | +27.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$8440万 | -$3460万 | -144.4% | $3.02亿 | $4.14亿 | -27.0% |
| Common Stock, Par or Stated Value Per Share | $0.002026-01-31 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 8亿2026-01-31 | 8亿 | 0.0% | 8亿 | 8亿 | 0.0% |
| Common Stock, Shares, Issued | 1.64亿2026-01-31 | 1.63亿 | +0.7% | 1.64亿 | 1.63亿 | +0.7% |
| Common Stock, Shares, Outstanding | 1.62亿 | 1.64亿 | -1.2% | 1.64亿 | 1.63亿 | +0.7% |
| Common Stock, Value, Issued | $2000 | $2000 | 0.0% | $2000 | $2000 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $2.47亿 | $1.89亿 | +30.5% | $9.25亿 | $7.16亿 | +29.2% |
| Contract with Customer, Liability, Current | $13.1亿 | $11.1亿 | +18.3% | $14.9亿 | $12.7亿 | +16.9% |
| Contract with Customer, Liability, Revenue Recognized | $6.4亿 | $5.56亿 | +15.1% | $12.3亿 | $10.3亿 | +19.3% |
| Cost of Goods and Services Sold | $2.32亿 | $1.95亿 | +18.8% | $7.82亿 | $7亿 | +11.8% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.6亿 | $2.44亿 | -34.2% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1590万 | $1090万 | +45.5% |
| Current Income Tax Expense (Benefit) | – | – | – | $2.21亿 | $3.18亿 | -30.6% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $4420万 | $6300万 | -29.8% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $316万 | $1880万 | -83.2% | $3050万 | $1620万 | +88.6% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $4630万 | $494万 | +838.4% | $154万 | $1040万 | -85.3% |
| Debt Securities, Available-for-sale, Amortized Cost | $54.7亿 | $44.6亿 | +22.8% | $51.1亿 | $40.3亿 | +26.9% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $841万 | $4770万 | -82.4% | $914万 | $2.89亿 | -96.8% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $5.4万 | $9.5万 | -43.2% | $5.9万 | $58.6万 | -89.9% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $42.6亿 | $14.1亿 | +202.4% | $6.78亿 | $12.1亿 | -43.9% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $4630万 | $484万 | +855.7% | $148万 | $984万 | -85.0% |
| Debt Securities, Available-for-sale, Current | $54.3亿 | $44.7亿 | +21.4% | $51.4亿 | $40.3亿 | +27.5% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $44.2亿 | $35.4亿 | +24.7% | $41.1亿 | $29.6亿 | +38.7% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $10.1亿 | $9.3亿 | +8.7% | $10.3亿 | $10.7亿 | -3.8% |
| Deferred Costs, Noncurrent | $2780万 | $2590万 | +7.5% | $3000万 | $2640万 | +13.6% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $6050万 | -$9000万 | +167.2% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$355万 | -$367万 | +3.3% |
| Deferred Income Tax Assets, Net | $2.68亿 | $3.1亿 | -13.4% | $2.73亿 | $3.44亿 | -20.5% |
| Deferred Income Tax Expense (Benefit) | $1220万 | $5910万 | -79.4% | $6510万 | -$1.12亿 | +158.0% |
| Deferred Income Tax Liabilities, Net | $206万 | $43.9万 | +368.3% | $55.8万 | $58.7万 | -4.9% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $813万 | -$1860万 | +143.8% |
| Deferred Tax Assets, Gross | $4.35亿2026-01-31 | $4.94亿 | -11.9% | $4.35亿 | $4.94亿 | -11.9% |
| Deferred Tax Assets, Net | $2.73亿2026-01-31 | $3.43亿 | -20.5% | $2.73亿 | $3.43亿 | -20.5% |
| Deferred Tax Assets, Net of Valuation Allowance | $3.56亿2026-01-31 | $4.17亿 | -14.7% | $3.56亿 | $4.17亿 | -14.7% |
| Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $1300万2026-01-31 | $1300万 | 0.0% | $1300万 | $1300万 | 0.0% |
| Deferred Tax Assets, Other | $1420万2026-01-31 | $1480万 | -4.1% | $1420万 | $1480万 | -4.1% |
| Deferred Tax Assets, Property, Plant and Equipment | $2.46亿2026-01-31 | $3.27亿 | -24.7% | $2.46亿 | $3.27亿 | -24.7% |
| Deferred Tax Assets, Tax Credit Carryforwards | $6710万2026-01-31 | $6450万 | +3.9% | $6710万 | $6450万 | +3.9% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $8270万2026-01-31 | $6850万 | +20.7% | $8270万 | $6850万 | +20.7% |
| Deferred Tax Assets, Valuation Allowance | $7950万2026-01-31 | $7710万 | +3.2% | $7950万 | $7710万 | +3.2% |
| Deferred Tax Liabilities, Goodwill and Intangible Assets | $2190万2026-01-31 | $2330万 | -5.8% | $2190万 | $2330万 | -5.8% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-07-31, 10-Q 2026-04-30, 10-K 2026-01-31, 10-Q 2025-10-31, 10-Q 2025-07-31, 10-Q 2025-04-30, 10-K 2025-01-31, 10-Q 2024-10-31, 10-Q 2024-07-31
数据截至 2026-11-02