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Vtex (VTEX) 10-Year Financial Performance & Capital Metrics

VTEX • • Industrial / General
TechnologyApplication SoftwareMarketing & Customer EngagementDigital Advertising
AboutVTEX provides software-as-a-service digital commerce platform for enterprise brands and retailers. Its platform enables customers to execute their commerce strategy, including building online stores, integrating, and managing orders across channels, and creating marketplaces to sell products from third-party vendors. It has operations in Brazil, Argentina, Chile, Colombia, France, Italy, Mexico, Peru, Portugal, Romania, Spain, the United Kingdom, and the United States. VTEX was founded in 2000 and is headquartered in London, the United Kingdom.Show more
  • Revenue $227M +12.5%
  • EBITDA $14M +250.9%
  • Net Income $12M +187.7%
  • EPS (Diluted) 0.06 +185.0%
  • Gross Margin 73.79% +5.8%
  • EBITDA Margin 6.38% +234.2%
  • Operating Margin 4.46% +161.5%
  • Net Margin 5.29% +177.9%
  • ROE 4.84% +191.0%
  • ROIC 3.32% +171.7%
  • Debt/Equity 0.01 -24.0%
  • Interest Coverage 7.07 +128.0%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong Piotroski F-Score: 8/9
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 29.9%

✗Weaknesses

  • ✗Weak momentum: RS Rating 15 (bottom 15%)
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y29.89%
3Y21.7%
TTM3.63%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM35.15%

EPS CAGR

10Y-
5Y-
3Y-
TTM86.32%

ROCE

10Y Avg-6.8%
5Y Avg-7.63%
3Y Avg-5.62%
Latest3.68%

Peer Comparison

Digital Advertising
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Valuation
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Quality & Returns
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Momentum & Returns
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
SEMRSemrush Holdings, Inc.1.54B11.88214.8322.47%-1.05%-1.51%2.8%0.05
APPAppLovin Corporation186.71B606.99133.9943.44%51.28%192.05%1.12%3.26
DSPViant Technology Inc.199.15M11.9499.5029.74%1.85%2.32%24.74%0.09
VTEXVtex327.46M3.3754.0112.5%7.03%6.81%7.69%0.01
TTDThe Trade Desk, Inc.15.95B36.2346.4525.63%15.72%16.86%3.96%0.11
PUBMPubMatic, Inc.299.11M7.8434.099.08%-2.51%-2.96%11.67%0.16
DVDoubleVerify Holdings, Inc.1.7B10.563314.72%6.1%4.16%7.79%0.08
MTCHMatch Group, Inc.7.46B31.6015.643.41%16.2%11.83%

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+61.33M98.68M125.77M157.62M201.52M226.71M
Revenue Growth %-0.61%0.27%0.25%0.28%0.13%
Cost of Goods Sold+20.25M34.85M49.59M52.83M60.95M59.42M
COGS % of Revenue0.33%0.35%0.39%0.34%0.3%0.26%
Gross Profit+41.08M63.83M76.18M104.79M140.57M167.29M
Gross Margin %0.67%0.65%0.61%0.66%0.7%0.74%
Gross Profit Growth %-0.55%0.19%0.38%0.34%0.19%
Operating Expenses+42.89M57.31M142.11M154.71M155.17M157.19M
OpEx % of Revenue0.7%0.58%1.13%0.98%0.77%0.69%
Selling, General & Admin30.87M37.8M95.41M96.15M93.13M102.29M
SG&A % of Revenue0.5%0.38%0.76%0.61%0.46%0.45%
Research & Development12.69M19.04M45.19M57.2M60.12M53.62M
R&D % of Revenue0.21%0.19%0.36%0.36%0.3%0.24%
Other Operating Expenses-665K462K1.51M1.36M1.92M1.27M
Operating Income+-1.81M6.52M-65.93M-49.92M-14.6M10.1M
Operating Margin %-0.03%0.07%-0.52%-0.32%-0.07%0.04%
Operating Income Growth %-4.6%-11.11%0.24%0.71%1.69%
EBITDA+717K8.92M-61.86M-45.3M-9.58M14.47M
EBITDA Margin %0.01%0.09%-0.49%-0.29%-0.05%0.06%
EBITDA Growth %-11.44%-7.94%0.27%0.79%2.51%
D&A (Non-Cash Add-back)2.53M2.4M4.07M4.62M5.02M4.36M
EBIT-2.37M4.46M-69.2M-55.71M-10.01M10.03M
Net Interest Income+-2.17M-720K-526K1.52M23.18M12.74M
Interest Income334K556K264K2.25M23.76M14.17M
Interest Expense2.51M1.28M790K733K578K1.43M
Other Income/Expense-1.88M-3.06M-4.06M-6.53M4.01M-440K
Pretax Income+-3.69M3.46M-69.99M-56.44M-10.59M9.66M
Pretax Margin %-0.06%0.04%-0.56%-0.36%-0.05%0.04%
Income Tax+883K4.29M-9.47M-4.03M3.11M-2.33M
Effective Tax Rate %1.24%-0.26%0.86%0.93%1.29%1.24%
Net Income+-4.59M-914K-60.51M-52.42M-13.69M12M
Net Margin %-0.07%-0.01%-0.48%-0.33%-0.07%0.05%
Net Income Growth %-0.8%-65.2%0.13%0.74%1.88%
Net Income (Continuing)-4.58M-825K-60.51M-52.42M-13.69M11.99M
Discontinued Operations000000
Minority Interest37K126K7K19K39K56K
EPS (Diluted)+-0.02-0.00-0.32-0.27-0.070.06
EPS Growth %-0.82%-0.16%0.73%1.85%
EPS (Basic)-0.02-0.00-0.32-0.27-0.070.06
Diluted Shares Outstanding190.11M190.11M191.03M190.69M186.37M192.33M
Basic Shares Outstanding190.11M190.11M191.03M190.69M186.37M185.04M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+65.92M108.73M349.52M287.16M266.25M284.59M
Cash & Short-Term Investments44.26M76.95M298.2M238.56M209.41M214.81M
Cash Only29.76M59.99M121.01M24.39M28.04M18.67M
Short-Term Investments14.49M16.97M177.19M214.16M181.37M196.13M
Accounts Receivable17.27M29M41.56M41.97M50.62M62.85M
Days Sales Outstanding102.81107.27120.6297.1891.69101.18
Inventory000000
Days Inventory Outstanding------
Other Current Assets2.89M397K1.84M2.48M1.08M1.82M
Total Non-Current Assets+31.77M31.28M65.45M70.52M74.89M82.19M
Property, Plant & Equipment11.5M9.63M9.89M8.73M5.97M5.78M
Fixed Asset Turnover5.33x10.25x12.71x18.06x33.73x39.21x
Goodwill11.94M9.88M21.6M20.96M21.83M22.17M
Intangible Assets6.44M5.21M12.05M10.24M8.19M6.82M
Long-Term Investments58K525K621K1.15M3.12M9.65M
Other Non-Current Assets500K3.86M8.72M11.72M15.85M18.72M
Total Assets+97.69M140.01M414.97M357.67M341.14M366.78M
Asset Turnover0.63x0.70x0.30x0.44x0.59x0.62x
Asset Growth %-0.43%1.96%-0.14%-0.05%0.08%
Total Current Liabilities+29.24M47.06M58.89M62.02M77.24M80.97M
Accounts Payable4.12M9.97M29.54M34.14M39.73M36.95M
Days Payables Outstanding74.31104.45217.39235.84237.92226.99
Short-Term Debt3.12M2.44M2.09M1.15M00
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K
Other Current Liabilities5.19M11.5M266K3.82M1.49M1.99M
Current Ratio2.25x2.31x5.94x4.63x3.45x3.51x
Quick Ratio2.25x2.31x5.94x4.63x3.45x3.51x
Cash Conversion Cycle------
Total Non-Current Liabilities+21.36M17.21M28.89M20.98M23.57M30.01M
Long-Term Debt7.91M4.77M1.19M000
Capital Lease Obligations6.31M5.3M4.89M3.74M2.23M1.7M
Deferred Tax Liabilities325K731K2.04M2.46M2.67M2.48M
Other Non-Current Liabilities5.44M1.39M4.57M856K2.08M3.62M
Total Liabilities50.6M64.26M87.78M83M100.81M110.98M
Total Debt+18.7M12.51M9.27M6.79M4.1M3.31M
Net Debt-11.06M-47.47M-111.74M-17.61M-23.94M-15.36M
Debt / Equity0.40x0.17x0.03x0.02x0.02x0.01x
Debt / EBITDA26.09x1.40x---0.23x
Net Debt / EBITDA-15.42x-5.32x----1.06x
Interest Coverage-0.72x5.11x-83.45x-68.10x-25.26x7.07x
Total Equity+47.09M75.75M327.19M274.68M240.33M255.8M
Equity Growth %-0.61%3.32%-0.16%-0.13%0.06%
Book Value per Share0.250.401.711.441.291.33
Total Shareholders' Equity47.05M75.62M327.18M274.66M240.29M255.75M
Common Stock17K17K19K19K18K18K
Retained Earnings-2.53M-3.44M-63.95M-116.37M-130.06M-118.06M
Treasury Stock000000
Accumulated OCI49.56M79.05M391.12M391.01M370.33M373.79M
Minority Interest37K126K7K19K39K56K

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+2.07M11.16M-52.99M-29.22M4.26M27.26M
Operating CF Margin %0.03%0.11%-0.42%-0.19%0.02%0.12%
Operating CF Growth %-4.4%-5.75%0.45%1.15%5.4%
Net Income-4.58M-825K-60.51M-52.42M-13.69M11.99M
Depreciation & Amortization2.53M2.4M4.07M4.62M5.02M4.36M
Stock-Based Compensation744K2.8M9.22M12.2M19.69M15.55M
Deferred Taxes-132K-616K-3.51M-6.03M1.25M-2.33M
Other Non-Cash Items1.64M126K-2.75M7.66M-8.34M-651K
Working Capital Changes1.86M7.28M489K4.75M326K-1.68M
Change in Receivables-6.68M-10.1M-16.75M-3.58M-13.14M-26.16M
Change in Inventory-57K-181K-2.51M05.66M0
Change in Payables3.86M7.96M7.42M5.23M855K-227K
Cash from Investing+-19.2M-6.1M-166.78M-43.38M38.42M-20.01M
Capital Expenditures-1.83M-1.65M-1.75M-340K-472K-2.07M
CapEx % of Revenue0.03%0.02%0.01%0%0%0.01%
Acquisitions------
Investments------
Other Investing100K1.04M588K1.26M3.24M691K
Cash from Financing+43.51M24.96M283.68M-19.58M-38.43M-14.03M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid-1.37M00000
Share Repurchases------
Other Financing-905K689K587K-2.87M-375K-1.15M
Net Change in Cash------
Free Cash Flow+239K9.52M-54.74M-29.56M3.79M25.19M
FCF Margin %0%0.1%-0.44%-0.19%0.02%0.11%
FCF Growth %-38.82%-6.75%0.46%1.13%5.65%
FCF per Share0.000.05-0.29-0.160.020.13
FCF Conversion (FCF/Net Income)-0.45x-12.22x0.88x0.56x-0.31x2.27x
Interest Paid000000
Taxes Paid000000

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-9.75%-1.49%-30.04%-17.42%-5.32%4.84%
Return on Invested Capital (ROIC)-3.77%15.21%-40.58%-15.85%-4.63%3.32%
Gross Margin66.99%64.68%60.57%66.48%69.75%73.79%
Net Margin-7.49%-0.93%-48.11%-33.26%-6.79%5.29%
Debt / Equity0.40x0.17x0.03x0.02x0.02x0.01x
Interest Coverage-0.72x5.11x-83.45x-68.10x-25.26x7.07x
FCF Conversion-0.45x-12.22x0.88x0.56x-0.31x2.27x
Revenue Growth-60.9%27.46%25.32%27.85%12.5%

Revenue by Segment

2021202220232024
Subscription Cost-162.13M208.78M239.79M
Subscription Cost Growth--28.77%14.86%
Subscription Revenue---217.71M
Subscription Revenue Growth----
Services Cost-9.8M11.76M9.54M
Services Cost Growth--20.03%-18.88%
Services Revenue7.31M9.14M11.21M9M
Services Revenue Growth-25.15%22.64%-19.72%
Subscription revenue118.47M148.47M190.3M-
Subscription revenue Growth-25.33%28.17%-

Frequently Asked Questions

Valuation & Price

Vtex (VTEX) has a price-to-earnings (P/E) ratio of 54.0x. This suggests investors expect higher future growth.

Growth & Financials

Vtex (VTEX) reported $234.1M in revenue for fiscal year 2024. This represents a 282% increase from $61.3M in 2019.

Vtex (VTEX) grew revenue by 12.5% over the past year. This is steady growth.

Yes, Vtex (VTEX) is profitable, generating $16.5M in net income for fiscal year 2024 (5.3% net margin).

Dividend & Returns

Vtex (VTEX) has a return on equity (ROE) of 4.8%. This is below average, suggesting room for improvement.

Vtex (VTEX) generated $33.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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