VEEVA SYSTEMS INC

VEEV

Quality scores

Data as of Sep 5, 2026

6 / 9

Neutral

6/9 — middling fundamentals (neutral zone).

PassROA > 0 — ROA last year = 10.12 %
PassFCF > 0 — FCF last year = 1,415.23 mill.
PassFCF > net income (accrual quality) — FCF 1,415.23 vs. net income 908.91 (mill.)
PassRising ROA — ROA 10.12 % vs. prior year 9.73 %

FailLower long-term leverage — total debt (approx.)/assets 0.01 vs. prior 0.01
PassRising current ratio (more liquidity) — Current ratio 4.89 vs. prior 4.51
FailNo dilution (shares do not grow) — Shares 163.78 mill. vs. prior 162.58 mill.

Test 5: no long-term debt breakdown; approximated with total debt / assets.

Z-Score (original)

17.60

Safe zone

Z''-Score (non-manufacturing)

14.46

Safe zone

Ratio	Value
X1 — Working capital / Total assets	0.71
X2 — Retained earnings / Total assets	0.49
X3 — EBIT / Total assets	0.10
X4 — Market cap / Total liabilities	25.62
X4 — Book equity / Total liabilities	4.09
X5 — Sales / Total assets	0.36