Veeva Systems Cash Flow Statement

Financials in millions USD. Fiscal year is February - January.

Millions USD. Fiscal year is Feb - Jan.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '25 Oct 31, 2025	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022	Jan '21 Jan 31, 2021
Net Income	860.33	714.14	525.71	487.71	427.39	380
Depreciation & Amortization	39.59	39.38	32.63	29.12	27.45	29.46
Other Amortization	16.19	15.53	18.18	22.1	26.05	20.68
Loss (Gain) From Sale of Investments	-10.61	-24.44	-26.52	-3.62	6.26	3.13
Stock-Based Compensation	469.65	437.35	393.73	351.91	234.64	185
Provision & Write-off of Bad Debts	-	-	-	-	0.27	-0.31
Other Operating Activities	42.85	-99.53	-93.21	-114.08	21.74	8.93
Change in Accounts Receivable	-71.57	-168.97	-104	-91.09	-83.08	-188.45
Change in Accounts Payable	0.81	-1.96	-10.23	21.43	-3	0.75
Change in Unearned Revenue	82.81	227.84	188.16	140.47	116.14	147.48
Change in Income Taxes	-4.78	-2.84	6.92	-2.82	5.28	-3.02
Change in Other Net Operating Assets	-47.33	-46.45	-20.03	-60.66	-14.68	-32.4
Operating Cash Flow	1,378	1,090	911.34	780.47	764.46	551.25
Operating Cash Flow Growth	27.79%	19.61%	16.77%	2.09%	38.68%	26.04%
Capital Expenditures	-26.82	-20.52	-26.2	-13.51	-14.21	-8.68
Cash Acquisitions	-	-	-	-	-7.78	-
Investment in Securities	-925.48	-679.62	-1,050	-994.17	-324.16	-324.95
Investing Cash Flow	-952.3	-700.14	-1,076	-1,008	-346.15	-333.63
Long-Term Debt Repaid	-	-	-	-	-0.38	-1.04
Net Debt Issued (Repaid)	-	-	-	-	-0.38	-1.04
Issuance of Common Stock	280.43	105.54	62.69	43.65	51.54	34.86
Repurchase of Common Stock	-90.9	-79.42	-78.88	-63.03	-55.29	-
Financing Cash Flow	189.53	26.12	-16.19	-19.38	-4.14	33.82
Foreign Exchange Rate Adjustments	0.48	-1.74	-1.78	-4.99	-4.66	0.48
Net Cash Flow	615.63	414.29	-182.98	-251.58	409.51	251.91
Free Cash Flow	1,351	1,070	885.14	766.96	750.25	542.56
Free Cash Flow Growth	28.10%	20.83%	15.41%	2.23%	38.28%	25.29%
Free Cash Flow Margin	43.86%	38.94%	37.45%	35.59%	40.54%	37.03%
Free Cash Flow Per Share	8.06	6.47	5.41	4.72	4.62	3.38
Cash Income Tax Paid	248.02	322.05	134.47	167.95	58.63	18.1
Levered Free Cash Flow	1,051	942.78	751.96	706.64	631.55	422.82
Unlevered Free Cash Flow	1,051	942.78	751.96	706.64	631.55	422.82
Change in Working Capital	-40.07	7.62	60.82	7.34	20.66	-75.65

Source: S&P Global Market Intelligence. Standard template. Financial Sources.