VEEVA SYSTEMS Reports Fourth Quarter Earnings Results for Fiscal Year 2023.
March 12, 2023
Earnings Overview
On March 1 2023, VEEVA SYSTEMS ($NYSE:VEEV) reported their financial results for the fourth quarter of FY2023 ending on January 31 2023. The company reported total revenue of USD 188.5 million, indicating an impressive 94.2% increase from the same period of the prior year. Additionally, net income was up 16.0% to USD 563.4 million.
Price History
The company’s stock opened at $166.9, which was up 0.3% from its prior closing price of $165.7. Despite a brief dip during midday trading, VEEVA SYSTEMS closed at $166.1 at the end of the day. In addition to strong financial performance, VEEVA SYSTEMS also announced a two-for-one stock split. The company stated that shareholders would now receive two shares of stock for every one share owned.
Overall, VEEVA SYSTEMS’ fourth quarter earnings report was positive and demonstrated an impressive financial performance. The company’s stock split will also help attract more investors and potentially increase shareholder value over time. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Veeva Systems. More…
| Total Revenues | Net Income | Net Margin |
| 2.16k | 487.71 | 22.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Veeva Systems. More…
| Operations | Investing | Financing |
| 780.47 | -1.01k | -19.38 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Veeva Systems. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.8k | 1.09k | 21.97 |
Key Ratios Snapshot
Some of the financial key ratios for Veeva Systems are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.0% | 17.1% | 21.3% |
| FCF Margin | ROE | ROA |
| 36.2% | 8.0% | 6.0% |
Analysis
As an investor, I’ve taken a closer look at VEEVA SYSTEMS and analyzed their financials. I am pleased to report that according to the Star Chart VEEVA SYSTEMS has a high health score of 10/10 due to their strong cashflow and debt. This means that they are able to sustain future operations in times of crisis. Additionally, VEEVA SYSTEMS is strong in assets, growth, and profitability, but weak in dividends. VEEVA SYSTEMS is also classified as a ‘gorilla’, which is a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. This means that they are well positioned to succeed in the long-term and are thus attractive to long-term investors. It could also be of interest to value investors looking for companies with a strong competitive advantage that will generate returns over the long-term. More…
Peers
The company’s competitors include ORHub Inc, Essence Information Technology Co Ltd, and Xybion Digital Inc.
– ORHub Inc ($OTCPK:ORHB)
CrowdStrike Holdings, Inc. is an American cybersecurity technology firm headquartered in Sunnyvale, California. It provides endpoint security, threat intelligence, and cyber attack response services. The company was founded in 2011 by George Kurtz and Dmitri Alperovitch.
– Essence Information Technology Co Ltd ($SHSE:688555)
Essence Information Technology Co Ltd is a Chinese company that provides information technology services. It has a market cap of 1.01B as of 2022 and a Return on Equity of -2.84%. The company offers services in areas such as cloud computing, big data, and artificial intelligence.
– Xybion Digital Inc ($TSXV:XYBN)
Xybion Digital Inc is a publicly traded company with a market capitalization of $157.07 million as of 2022. The company has a negative return on equity of 12.47% and is involved in the digital media industry. Xybion Digital Inc owns and operates a number of online properties, including social media, video, and email platforms. The company has a strong presence in the United States, Canada, and Europe.
Summary
VEEVA SYSTEMS has demonstrated strong financial performance in the fourth quarter of FY2023, reporting total revenue of USD 188.5 million and net income of USD 563.4 million. This represents a 94.2% and 16.0% year-over-year increase respectively, indicating continued success for the company. Investors should remain optimistic about the company’s prospects given its impressive revenue growth, as well as its continued focus on innovation and customer service. VEEVA SYSTEMS is likely to remain a solid long-term investment, as it continues to expand its market share and maintain its competitive edge.
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