Comprehensive Stock Comparison
Compare Vtex (VTEX) vs Shopify Inc. (SHOP) vs Grab Holdings Limited (GRAB) vs Manhattan Associates, Inc. (MANH) vs StubHub Holdings, Inc. (STUB) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
Selected Stocks
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | SHOP | 30.1% revenue growth vs MANH's 3.7% |
| Value | STUB | Lower P/E (8.4x vs 38.5x) |
| Quality / Margins | MANH | 20.3% net margin vs STUB's -72.0% |
| Stability / Safety | VTEX | Beta 1.21 vs STUB's 2.25, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | SHOP | +7.8% vs STUB's -56.5% |
| Efficiency (ROA) | MANH | 26.2% ROA vs STUB's -23.5%, ROIC 236.8% vs 3.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
VTEX is a cloud-based digital commerce platform that helps enterprise brands and retailers build and manage online stores across multiple channels. The company generates revenue primarily through subscription fees for its SaaS platform — typically based on gross merchandise volume — with additional income from professional services and marketplace transaction fees. Its key advantage is a composable, API-first architecture that allows enterprise clients to customize their commerce stack while maintaining scalability across global markets.
Shopify is a comprehensive commerce platform that enables businesses of all sizes to create online stores, manage sales across multiple channels, and handle operations like payments, shipping, and inventory. It generates revenue primarily through subscription fees for its platform tiers — which account for about 30% of revenue — and merchant solutions like payment processing, shipping, and capital advances that make up the remaining 70%. The company's key advantage is its integrated ecosystem that combines easy-to-use store creation tools with a vast app marketplace and fulfillment network, creating high switching costs for merchants as they grow their businesses.
Grab is a Southeast Asian superapp that offers ride-hailing, food delivery, and digital financial services through a single mobile platform. It generates revenue primarily from its mobility segment — which includes ride-hailing and taxi services — and its deliveries segment — mainly food and grocery delivery — with financial services and enterprise offerings contributing smaller portions. The company's key advantage is its dominant first-mover position across Southeast Asia, creating a powerful network effect where its massive user base attracts more drivers and merchants, which in turn draws more users.
Manhattan Associates is a supply chain and omnichannel commerce software provider that helps companies manage inventory, logistics, and retail operations. It generates revenue primarily through software license sales (~40%), maintenance and support services (~35%), and professional implementation services (~25%). The company's competitive advantage lies in its deep domain expertise and integrated platform approach—spanning warehouse management, transportation, and omnichannel solutions—which creates switching costs for enterprise clients.
StubHub operates a global online marketplace for secondary ticket sales to live events — primarily sports, concerts, and theater. It generates revenue primarily through transaction fees charged to both buyers and sellers on each ticket sale. Its key advantage is its massive scale and brand recognition as one of the world's largest secondary ticket platforms, creating network effects that attract both buyers and sellers.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 5 stocks. BestLagging
Financial Scorecard
MANH leads in 2 of 6 categories (Financial Metrics, Analyst Outlook). STUB leads in 1 (Valuation Metrics). 2 tied.
Financial Metrics (TTM)
SHOP is the larger business by revenue, generating $11.6B annually — 49.4x VTEX's $234M. MANH is the more profitable business, keeping 20.3% of every revenue dollar as net income compared to STUB's -72.0%. On growth, SHOP holds the edge at +30.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | VTEXVtex | SHOPShopify Inc. | GRABGrab Holdings Lim… | MANHManhattan Associa… | STUBStubHub Holdings,… |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $234M | $11.6B | $3.4B | $1.1B | $1.8B |
| EBITDAEarnings before interest/tax | $17M | $1.5B | $285M | $286M | -$1.2B |
| Net IncomeAfter-tax profit | $16M | $1.2B | $267M | $220M | -$1.3B |
| Free Cash FlowCash after capex | $34M | $2.0B | -$2M | $374M | $164M |
| Gross MarginGross profit ÷ Revenue | +76.2% | +48.1% | +43.2% | +55.9% | +79.3% |
| Operating MarginEBIT ÷ Revenue | +6.0% | +12.7% | +3.2% | +25.9% | -65.2% |
| Net MarginNet income ÷ Revenue | +7.0% | +10.7% | +7.9% | +20.3% | -72.0% |
| FCF MarginFCF ÷ Revenue | +14.4% | +17.4% | -0.1% | +34.6% | +9.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +6.5% | +30.6% | +18.6% | +5.7% | +7.9% |
| EPS Growth (YoY)Latest quarter vs prior year | +101.2% | -42.0% | — | +11.7% | -42.1% |
Valuation Metrics
At 37.6x trailing earnings, MANH trades at a 71% valuation discount to SHOP's 128.4x P/E. Adjusting for growth (PEG ratio), MANH offers better value at 1.75x vs SHOP's 4.38x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | VTEXVtex | SHOPShopify Inc. | GRABGrab Holdings Lim… | MANHManhattan Associa… | STUBStubHub Holdings,… |
|---|---|---|---|---|---|
| Market CapShares × price | $333M | $157.4B | $16.7B | $8.1B | $3.1B |
| Enterprise ValueMkt cap + debt − cash | $318M | $156.1B | $15.4B | $7.9B | $4.4B |
| Trailing P/EPrice ÷ TTM EPS | 54.97x | 128.44x | 66.25x | 37.62x | -63.80x |
| Forward P/EPrice ÷ next-FY EPS est. | 18.89x | 65.90x | 38.54x | 25.97x | 8.39x |
| PEG RatioP/E ÷ EPS growth rate | — | 4.38x | — | 1.75x | — |
| EV / EBITDAEnterprise value multiple | 21.98x | 104.11x | 40.55x | 27.29x | 27.07x |
| Price / SalesMarket cap ÷ Revenue | 1.47x | 13.62x | 4.97x | 7.49x | 1.73x |
| Price / BookPrice ÷ Book value/share | 2.58x | 11.69x | 2.63x | 26.27x | 2.26x |
| Price / FCFMarket cap ÷ FCF | 13.23x | 78.44x | 124.99x | 21.67x | 12.03x |
Profitability & Efficiency
MANH delivers a 69.9% return on equity — every $100 of shareholder capital generates $70 in annual profit, vs $-54 for STUB. VTEX carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to STUB's 1.69x. On the Piotroski fundamental quality scale (0–9), VTEX scores 8/9 vs GRAB's 4/9, reflecting strong financial health.
| Metric | VTEXVtex | SHOPShopify Inc. | GRABGrab Holdings Lim… | MANHManhattan Associa… | STUBStubHub Holdings,… |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | +6.8% | +9.1% | +4.0% | +69.9% | -53.7% |
| ROA (TTM)Return on assets | +4.6% | +8.1% | +2.2% | +26.2% | -23.5% |
| ROICReturn on invested capital | +3.3% | +9.4% | +3.3% | +2.4% | +3.6% |
| ROCEReturn on capital employed | +3.7% | +11.0% | +2.9% | +76.3% | +3.4% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 6 | 4 | 6 | 6 |
| Debt / EquityFinancial leverage | 0.01x | 0.01x | 0.30x | 0.36x | 1.69x |
| Net DebtTotal debt minus cash | -$15M | -$1.4B | -$1.4B | -$216M | $1.3B |
| Cash & Equiv.Liquid assets | $19M | $1.5B | $3.4B | $329M | $1.0B |
| Total DebtShort + long-term debt | $3M | $188M | $2.1B | $112M | $2.3B |
| Interest CoverageEBIT ÷ Interest expense | 118.50x | — | 3.39x | — | -7.50x |
Total Returns (with DRIP)
A $10,000 investment in MANH five years ago would be worth $10,428 today (with dividends reinvested), compared to $1,546 for VTEX. Over the past 12 months, SHOP leads with a +7.8% total return vs STUB's -56.5%. The 3-year compound annual growth rate (CAGR) favors SHOP at 43.2% vs STUB's -24.2% — a key indicator of consistent wealth creation.
| Metric | VTEXVtex | SHOPShopify Inc. | GRABGrab Holdings Lim… | MANHManhattan Associa… | STUBStubHub Holdings,… |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | -5.5% | -23.2% | -16.9% | -19.0% | -33.0% |
| 1-Year ReturnPast 12 months | -28.5% | +7.8% | -13.0% | -23.4% | -56.5% |
| 3-Year ReturnCumulative with dividends | -13.2% | +193.5% | +31.5% | -5.8% | -56.5% |
| 5-Year ReturnCumulative with dividends | -84.5% | -7.8% | -67.3% | +4.3% | -56.5% |
| 10-Year ReturnCumulative with dividends | -84.5% | +5294.6% | -64.5% | +145.1% | -56.5% |
| CAGR (3Y)Annualised 3-year return | -4.6% | +43.2% | +9.5% | -2.0% | -24.2% |
Risk & Volatility
VTEX is the less volatile stock with a 1.21 beta — it tends to amplify market swings less than STUB's 2.25 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. SHOP currently trades 66.3% from its 52-week high vs STUB's 34.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | VTEXVtex | SHOPShopify Inc. | GRABGrab Holdings Lim… | MANHManhattan Associa… | STUBStubHub Holdings,… |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.21x | 2.23x | 1.41x | 1.37x | 2.25x |
| 52-Week HighHighest price in past year | $6.82 | $182.19 | $6.62 | $247.22 | $27.89 |
| 52-Week LowLowest price in past year | $2.84 | $69.84 | $3.36 | $127.86 | $8.30 |
| % of 52W HighCurrent price vs 52-week peak | +50.3% | +66.3% | +63.7% | +54.8% | +34.3% |
| RSI (14)Momentum oscillator 0–100 | 43.7 | 48.7 | 46.9 | 42.0 | 39.8 |
| Avg Volume (50D)Average daily shares traded | 809K | 10.0M | 43.1M | 696K | 2.7M |
Analyst Outlook
Analyst consensus: VTEX as "Buy", SHOP as "Buy", GRAB as "Buy", MANH as "Buy", STUB as "Buy". Consensus price targets imply 146.2% upside for STUB (target: $24) vs 36.8% for SHOP (target: $165).
| Metric | VTEXVtex | SHOPShopify Inc. | GRABGrab Holdings Lim… | MANHManhattan Associa… | STUBStubHub Holdings,… |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $5.27 | $165.16 | $6.60 | $231.71 | $23.56 |
| # AnalystsCovering analysts | 12 | 63 | 12 | 15 | 8 |
| Dividend YieldAnnual dividend ÷ price | — | — | — | — | — |
| Dividend StreakConsecutive years of raises | 1 | — | — | 2 | 0 |
| Dividend / ShareAnnual DPS | — | — | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +3.4% | 0.0% | +1.6% | +3.9% | 0.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Jul 21 | Feb 26 | Change |
|---|---|---|---|
| Vtex (VTEX) | 100 | 14.25 | -85.8% |
| Shopify Inc. (SHOP) | 100 | 85.92 | -14.1% |
| Grab Holdings Limit… (GRAB) | 100 | 40.61 | -59.4% |
| Manhattan Associate… (MANH) | 100 | 93.72 | -6.3% |
Manhattan Associate… (MANH) returned +4% over 5 years vs Vtex (VTEX)'s -85%. A $10,000 investment in MANH 5 years ago would be worth $10,428 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Vtex (VTEX) | $61M | $227M | +269.7% |
| Shopify Inc. (SHOP) | $389M | $11.6B | +2868.2% |
| Grab Holdings Limit… (GRAB) | $-845M | $3.4B | +498.8% |
| Manhattan Associate… (MANH) | $605M | $1.1B | +78.9% |
| StubHub Holdings, I… (STUB) | $212M | $1.8B | +736.7% |
Shopify Inc.'s revenue grew from $389M (2016) to $11.6B (2025) — a 45.8% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Vtex (VTEX) | -7.5% | 5.3% | +170.7% |
| Shopify Inc. (SHOP) | -9.1% | 10.7% | +217.3% |
| Grab Holdings Limit… (GRAB) | 4.4% | 8.0% | +79.3% |
| Manhattan Associate… (MANH) | 20.5% | 20.3% | -1.0% |
| StubHub Holdings, I… (STUB) | -29.2% | -0.2% | +99.5% |
Shopify Inc.'s net margin went from -9% (2016) to 11% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Shopify Inc. (SHOP) | 435.4 | 171.2 | -60.7% |
| Manhattan Associate… (MANH) | 29.5 | 48.1 | +63.1% |
Shopify Inc. has traded in a 61x–435x P/E range over 4 years; current trailing P/E is ~128x. Manhattan Associates, Inc. has traded in a 27x–90x P/E range over 9 years; current trailing P/E is ~38x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Vtex (VTEX) | -0.02 | 0.06 | +358.9% |
| Shopify Inc. (SHOP) | -0.04 | 0.94 | +2332.8% |
| Grab Holdings Limit… (GRAB) | -0.95 | 0.06 | +106.7% |
| Manhattan Associate… (MANH) | 1.72 | 3.6 | +109.3% |
| StubHub Holdings, I… (STUB) | -0.17 | -0.15 | +11.8% |
Shopify Inc.'s EPS grew from $-0.04 (2016) to $0.94 (2025).
Chart 6Free Cash Flow — 5 Years
Vtex generated $25M FCF in 2024 (+146% vs 2021). Shopify Inc. generated $2B FCF in 2025 (+314% vs 2021).
VTEX vs SHOP vs GRAB vs MANH vs STUB: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is VTEX or SHOP or GRAB or MANH or STUB a better buy right now?
Manhattan Associates, Inc. (MANH) offers the better valuation at 37.6x trailing P/E (26.0x forward), making it the more compelling value choice. Analysts rate Vtex (VTEX) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — VTEX or SHOP or GRAB or MANH or STUB?
On trailing P/E, Manhattan Associates, Inc. (MANH) is the cheapest at 37.6x versus Shopify Inc. at 128.4x. On forward P/E, StubHub Holdings, Inc. is actually cheaper at 8.4x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Manhattan Associates, Inc. wins at 1.21x versus Shopify Inc.'s 2.25x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — VTEX or SHOP or GRAB or MANH or STUB?
Over the past 5 years, Manhattan Associates, Inc. (MANH) delivered a total return of +4.3%, compared to -84.5% for Vtex (VTEX). A $10,000 investment in MANH five years ago would be worth approximately $10K today (assuming dividends reinvested). Over 10 years, the gap is even starker: SHOP returned +52.9% versus VTEX's -84.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — VTEX or SHOP or GRAB or MANH or STUB?
By beta (market sensitivity over 5 years), Vtex (VTEX) is the lower-risk stock at 1.21β versus StubHub Holdings, Inc.'s 2.25β — meaning STUB is approximately 85% more volatile than VTEX relative to the S&P 500. On balance sheet safety, Vtex (VTEX) carries a lower debt/equity ratio of 1% versus 169% for StubHub Holdings, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — VTEX or SHOP or GRAB or MANH or STUB?
Manhattan Associates, Inc. (MANH) is the more profitable company, earning 20.3% net margin versus -0.2% for StubHub Holdings, Inc. — meaning it keeps 20.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MANH leads at 26.1% versus 4.5% for VTEX. At the gross margin level — before operating expenses — STUB leads at 81.1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is VTEX or SHOP or GRAB or MANH or STUB more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Manhattan Associates, Inc. (MANH) is the more undervalued stock at a PEG of 1.21x versus Shopify Inc.'s 2.25x. A PEG below 1.5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, StubHub Holdings, Inc. (STUB) trades at 8.4x forward P/E versus 65.9x for Shopify Inc. — 57.5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for STUB: 146.2% to $23.56.
07Which pays a better dividend — VTEX or SHOP or GRAB or MANH or STUB?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is VTEX or SHOP or GRAB or MANH or STUB better for a retirement portfolio?
For long-horizon retirement investors, Manhattan Associates, Inc. (MANH) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+145.1% 10Y return). StubHub Holdings, Inc. (STUB) carries a higher beta of 2.25 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (MANH: +145.1%, STUB: -56.5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between VTEX and SHOP and GRAB and MANH and STUB?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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