VEEV
Veeva Systems Inc.
Is VEEV Halal?
Permissible life-sciences software, but identifiable cash and short-term investments are 80.10% of total assets and fail the examined financial screens.
What You Should Know
Veeva's cloud software for pharmaceutical, biotech and medical-device companies remains a generally permissible professional-services business. The April 2026 filing reports no interest-bearing debt, but cash and short-term investments equal 80.10% of total assets, and other income primarily associated with interest is 8.43% of quarterly revenue on a conservative upper-bound basis. The numerical failure does not erase the qualitative assessment, but it prevents a universal halal conclusion.
⚠️ Concerns
- •Cash plus short-term investments were 80.10% of total assets
- •Other income, net of 74.418 million was primarily interest-related and equals an 8.43% conservative upper bound of revenue
- •Pharmaceutical clients and product end uses are not separated into a Sharia-screened revenue numerator
- •Clinical-data privacy, research ethics, profiling and commercial marketing require qualitative review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-30; calculated 2026-07-13.
0 / 9,129.558
7,312.719 / 9,129.558
2,524.352 / 9,129.558
74.418 / 882.948
- Financial
- Fails
- Overall
- Fails
Debt/assets is 0.00%, but identifiable liquidity/assets is 80.10%, above 33.33%; the conservative other-income upper bound is 8.43%, above 5%.
- Financial
- Fails
- Overall
- Fails
Identifiable cash and short-term investments are 80.10% of total assets, above the examined MSCI liquidity ratio; debt and receivables-plus-cash are below their respective limits.
- Financial
- Fails
- Overall
- Fails
Identifiable cash and interest-bearing securities are 80.10% of total assets, above the 33% ratio; this is not an official SAC classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the failed asset-based liquidity screen independently drives the failure.
Business-activity disclosure
Veeva provides subscription and professional-services software for pharmaceutical, biotechnology, medical-device and other life-sciences organizations. General-purpose regulatory, clinical, quality and commercial software is generally permissible, but customer end use and the underlying products supported are not classified as a universal Sharia revenue numerator.
Limitation: The filing does not allocate revenue by customer contract, product end use, content, or potentially prohibited life-sciences category. The balance-sheet liquidity failure is measurable, but operating-business classification remains a separate qualitative question.
Purification
Other income, net of 74.418 is primarily interest income but includes other investment and foreign-currency items. ZakatInvest does not prescribe a fixed purification amount, and the liquidity ratios fail independently of purification.
Inputs, assumptions and primary sources
- Amounts are USD millions converted from the Veeva filing's thousands presentation.
- No interest-bearing debt is reported; operating and finance lease liabilities are not treated as interest-bearing debt in this screen.
- Cash is 1,896.580 and short-term investments are 5,416.139; the latter are treated as identifiable interest-bearing securities.
- Receivables include net accounts receivable of 568.020 and unbilled accounts receivable of 59.752.
- Quarterly revenue is 882.948. Other income, net of 74.418 consists primarily of interest income and is used as a conservative upper bound; it also includes investment amortization and foreign-currency items.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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