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VTEX

VTEX Technology Software Application

VTEX’s revenue for fiscal 2025 (year ended December 2025) was $240.5 million, up 6.11% from fiscal 2024.

Revenue
+9.52%
EPS
+200.0%
Free cash flow
+79.1%
Total debt
+168.6%

Quarter to June 2026, against a year earlier

3.96 0.07 −1.74%
Market cap
$677.8M
P/E
23.2×
Fwd P/E
19.9×
Dividend yield
—
F-score
8/9
Altman Z
4.71
Beneish M
−2.61
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 2.90
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 4 9 4 9 9 9 1 7 2
Insider Ownership 63.67%

Capital & Financial Ratios $m

Size
Market Cap 677.75
Revenue ttm 252.65
Net income ttm 30.26
Free cash flow ttm 43.76
Net debt Q (180.98)
Valuation
P/E 23.18
Forward P/E 19.90
Price / sales 2.61
Forward P/S Powerpack
Price / FCF 15.09
Price / book 2.95
Financial health
Current ratio Q 2.91 (at or above 1.5: strong)
Debt / equity Q 0.02 (at or below 0.5: strong)
Interest coverage Q 0.26
Growth
Revenue growth Q +9.52% (above 0%: growing)
Operating income growth Q +231.62% (above 0%: growing)
EPS, this year −1.47% (below 0%: weak)
EPS, next year A +21.71% (at or above 15%: strong)
Revenue, next year A +9.60%
EPS, past 5 yrs —
EPS, next 5 yrs A +8.26%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.9×, against a ten-year median of 4.0×; over the ten years it ranged from 1.6× in 2026 to 38.0× in 2021.
P/S against its own 10 years 7.96%
10-year low 10-year high
P/B against its own 10 years 31.01%
10-year low 10-year high
EV/Sales against its own 10 years 8.48%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 209 215 192 186
Receivables 51 63 68 65
Inventory — — — —
Other 0 0 — 5
266 285 268 258
2023 2024 2025 Q'26
Payables 40 36 36 35
ST’ Debt — — — —
Other 1 2 5 7
77 80 88 89

Compound Annual Growth %

10y 5y 3y
Sales — 19.51% 15.13%
Cash Flow — 24.48% 0.00%
Earnings — 0.00% 0.00%
Book Value — 25.26% (5.26%)

Earnings Trends EPS, adjusted, against the consensus

Sep 2026 Estimate 0.05 Actual 0.02

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2025 0.05 0.05 Met by 0.00
Mar 2026 0.03 0.02 Miss by 0.01
Jun 2026 0.04 0.06 Beat by 0.02
Sep 2026 0.05 0.02 Miss by 0.03
Dec 2026 0.08 — Reports 25 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.02 0.06 — — —
’25 0.00 0.02 0.03 0.05 0.11
’24 0.00 0.03 0.02 0.03 0.08
’23 (0.04) (0.04) (0.01) 0.02 (0.08)
’22 (0.10) (0.11) (0.06) 0.00 (0.28)
’21 (0.07) (0.09) (0.12) (0.06) (0.33)
’20 (0.03) 0.03 0.02 (0.02) 0.00
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 61 64 — — —
’25 54 59 60 68 241
’24 53 57 56 62 227
’23 42 48 51 61 202
’22 35 39 39 45 158
’21 26 31 32 37 126
’20 17 25 28 29 99
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 13 13 — — —
’25 7 7 8 11 33
’24 2 3 8 13 26
’23 (5) (3) 3 10 5
’22 (16) (13) (3) 3 (29)
’21 (7) (14) (10) (21) (53)
’20 (9) 6 12 3 11
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 13 13 — — —
’25 7 7 8 11 32
’24 2 3 7 12 24
’23 (5) (3) 3 9 5
’22 (16) (13) (3) 3 (30)
’21 (8) (15) (11) (21) (55)
’20 (10) 5 12 2 10
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — 61 99 126 158 202 227 241 253 +25.6% 264 283 292 +6.7%
Gross margin, % — — — 66.99 64.68 60.57 66.48 69.75 73.66 77.47 79.26 +10.5 pt
EBT — — — (4) 3 (70) (56) (11) 13 22 33 n/m
EBT margin, % — — — (6.02) 3.51 (55.64) (35.81) (5.25) 5.85 9.35 12.92 +15.4 pt
Net income — 0 — (5) (1) (61) (52) (16) 16 20 30 n/m
Per share, $
Per share, $ Revenue — — — 0.39 0.59 0.69 0.83 1.08 1.22 1.34 1.51 +22.6%
Earnings — — — (0.03) 0.00 (0.33) (0.28) (0.08) 0.09 0.11 0.17 n/m
Cash flow — — — 0.01 0.07 (0.29) (0.15) 0.03 0.14 0.19 0.27 +55.2%
Capex — — — (0.01) (0.01) (0.01) 0.00 0.00 (0.01) (0.01) (0.01) (11.0%)
Free cash flow — — — 0.00 0.06 (0.30) (0.15) 0.03 0.13 0.18 0.26 +122.1%
Book value — — — 0.30 0.45 1.80 1.44 1.29 1.37 1.30 1.34 +27.5%
Shares, m — — — 156 168 182 191 186 185 180 175 +2.4%
Valuation, ×
Valuation, × P/E — — — 0.00 0.00 0.00 0.00 0.00 78.22 32.78 23.18 15.9
P/S — — — 33.72 33.72 15.47 4.75 6.19 4.81 2.81 2.61 14.5
P/B — — — 69.52 69.52 5.95 2.73 5.19 4.29 2.89 2.95 22.9
EV/Sales — — — 33.45 33.45 13.14 3.25 5.16 3.87 2.01 1.90 13.5
EV/FCF — — — (437.95) (437.95) (30.40) (17.35) 274.52 36.69 14.99 10.95 (85.4)
Cash, $m
Cash, $m Operating cash flow — — — 2 11 (53) (29) 5 26 33 46 +59.0%
Capex — — — (2) (2) (2) 0 0 (2) (1) (2) (9.0%)
Free cash flow — — — 0 10 (55) (30) 5 24 32 44 +126.6%
Balance, $m
Balance, $m Working capital — — — 37 62 291 225 189 205 180 170 +30.3%
Net debt — — — (33) (67) (293) (236) (207) (213) (191) (181) +34.1%
Shareholders’ equity — — — 47 76 327 275 240 254 234 224 +30.6%
Returns, %
Returns, % ROA — — — (9.40) (0.77) (21.81) (13.57) (3.92) 4.50 5.65 8.57 +15.0 pt
ROIC — — — (7.92) 45.93 (121.60) (81.57) (27.53) 11.25 26.50 44.94 +34.4 pt
ROE — — — (7.48) (1.49) (30.03) (17.42) (5.32) 6.40 8.21 12.76 +15.7 pt
People
People Employees — — — — 1,238 1,727 1,349 1,277 1,368 1,139 — (1.7%)
Revenue/emp, $m — — — 0.00 0.08 0.07 0.12 0.16 0.17 0.21 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

VTEX vs peers in Software Application (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DSP Viant Technology Inc. $841.2M 25.3× 62.4× +33.91% (above 0%: growing) n/m +38.79% (above 0%: growing) 100.00% (3.69%) Compare
PAR PAR Technology Corporation $793.3M — (loss-making) — (loss-making) +15.04% (above 0%: growing) n/m +300.71% (above 0%: growing) 43.81% (3.99%) Compare
PUBM PubMatic, Inc. $764.3M — (loss-making) — (loss-making) +10.55% (above 0%: growing) n/m +47.47% (above 0%: growing) 67.07% 0.74% Compare
MITK Mitek Systems, Inc. $763.9M 34.4× 39.4× +18.17% (above 0%: growing) +280.00% (above 0%: growing) +19.18% (above 0%: growing) 84.86% 21.36% Compare
DCBO Docebo Inc. $758.5M 24.7× 36.8× +13.04% (above 0%: growing) −10.00% (below 0%: shrinking) −154.48% (below 0%: shrinking) 79.44% 3.76% Compare
SMWB Similarweb Ltd. $736.7M — (loss-making) — (loss-making) +8.76% (above 0%: growing) n/m +217.42% (above 0%: growing) 80.73% 0.96% Compare
YALA Truth Social God Bless America ETF $705.3M 6.2× 7.0× −2.31% (below 0%: shrinking) −12.50% (below 0%: shrinking) +9,191.70% (above 0%: growing) 67.55% 23.49% Compare
VTEX VTEX $677.8M 23.2× 19.9× +9.52% (above 0%: growing) +200.00% (above 0%: growing) +79.12% (above 0%: growing) 80.31% 15.00%
SPT Sprout Social, Inc. $654.1M — (loss-making) — (loss-making) +8.27% (above 0%: growing) n/m +20.36% (above 0%: growing) 76.56% (5.52%) Compare
Median of peers $761.2M 25.0× 38.1× +11.80% −10.00% +43.13% 78.00% 0.85%

All 230 Software Application stocks →

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stockrow.com/VTEX · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com