Last 24 quarters of trend data · Technology · Software - Application
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 33.18 | 17.01 | 42.02 | 17.44 | 32.21 | 103.12 | 275.54 | 45.17 | 110.06 | 70.62 | — | 98.29 | — | — | — | — | — | — | — | — | — |
| — | -83.5% | -84.8% | -61.4% | -70.7% | +46.0% | — | -54.0% | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 2.69 | 2.65 | 2.81 | 2.50 | 3.43 | 5.26 | 4.41 | 4.60 | 6.39 | 6.18 | 7.15 | 5.21 | 4.60 | 4.69 | 4.27 | 3.90 | 4.56 | 3.80 | 8.48 | 13.79 | 29.84 |
| — | -49.6% | -36.2% | -45.7% | -46.3% | -14.8% | -38.3% | -11.7% | +38.8% | +31.8% | +67.3% | +33.8% | +1.0% | +23.2% | -49.6% | -71.8% | -84.7% | — | — | — | — | |
| P/B Ratio | 2.90 | 3.05 | 2.93 | 2.91 | 3.38 | 4.94 | 3.89 | 4.43 | 5.46 | 5.56 | 6.20 | 5.27 | 3.78 | 3.47 | 2.70 | 2.58 | 2.54 | 2.02 | 3.73 | 6.26 | 11.35 |
| — | -38.3% | -24.6% | -34.3% | -38.0% | -11.2% | -37.3% | -16.0% | +44.2% | +60.3% | +129.3% | +104.2% | +48.8% | +71.6% | -27.6% | -58.8% | -77.6% | — | — | — | — | |
| P/FCF | 19.98 | 12.89 | 12.86 | 15.35 | 27.22 | 43.45 | 36.02 | 22.87 | 43.15 | 118.27 | 240.77 | 33.46 | 87.00 | — | — | 70.53 | — | — | — | — | — |
| — | -70.3% | -64.3% | -32.9% | -36.9% | -63.3% | -85.0% | -31.7% | -50.4% | — | — | -52.6% | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 29.62 | 16.03 | 23.47 | 13.79 | 39.88 | 81.57 | 445.82 | 34.22 | 88.81 | 292.41 | — | 44.86 | — | — | — | — | — | — | — | — | — |
| — | -80.4% | -94.7% | -59.7% | -55.1% | -72.1% | — | -23.7% | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | 34.96 | 17.47 | 40.97 | 15.34 | 31.41 | 80.20 | 162.85 | 35.03 | 149.76 | 51.17 | 40.23 | 49.97 | — | — | — | — | — | — | — | — | — |
| — | -78.2% | -74.8% | -56.2% | -79.0% | +56.7% | +304.8% | -29.9% | — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 77.5% | 80.3% | 78.8% | 79.5% | 77.3% | 77.0% | 75.7% | 74.9% | 74.5% | 73.5% | 71.9% | 73.9% | 70.3% | 67.6% | 65.6% | 67.9% | 67.4% | 66.4% | 63.6% | 62.9% | 59.9% |
| — | +4.3% | +4.2% | +6.1% | +3.8% | +4.7% | +5.2% | +1.3% | +5.9% | +8.8% | +9.8% | +8.8% | +4.3% | +1.8% | +3.0% | +7.9% | +12.6% | +9.9% | +9.3% | +6.2% | +0.6% | |
| Operating Margin | 7.5% | 15.0% | 10.3% | 16.5% | 7.0% | 5.0% | -0.4% | 11.6% | 5.1% | 1.4% | -4.7% | 9.4% | -6.9% | -14.9% | -23.0% | -6.7% | -29.1% | -48.9% | -48.1% | -35.4% | -76.5% |
| — | +202.8% | +2932.1% | +42.6% | +36.4% | +247.1% | +92.3% | +23.3% | +174.7% | +109.6% | +79.4% | +241.2% | +76.5% | +69.6% | +52.3% | +81.2% | +61.9% | +7.9% | -3.7% | -399.6% | -316.7% | |
| Net Margin | 8.3% | 15.6% | 6.7% | 14.4% | 10.7% | 5.1% | 1.6% | 10.2% | 5.8% | 11.6% | -1.6% | 5.3% | -4.7% | -13.8% | -18.8% | -0.7% | -29.8% | -55.4% | -55.1% | -28.6% | -68.9% |
| — | +206.1% | +322.4% | +41.7% | +83.9% | -56.2% | +197.4% | +91.6% | +223.6% | +184.2% | +91.3% | +848.2% | +84.3% | +75.1% | +65.9% | +97.5% | +56.8% | -10.6% | -14.6% | -95.1% | -120.5% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.2% | 4.4% | 1.7% | 4.1% | 2.6% | 1.2% | 0.3% | 2.4% | 1.3% | 2.7% | -0.4% | 1.3% | -0.9% | -2.5% | -2.9% | -0.1% | -4.1% | -7.1% | -5.9% | -3.2% | -11.3% |
| — | +264.0% | +409.0% | +70.6% | +104.0% | -54.6% | +196.5% | +82.4% | +234.5% | +205.8% | +87.9% | +1233.3% | +76.8% | +64.5% | +50.8% | +96.4% | +63.9% | +72.3% | +66.2% | +53.8% | -1.9% | |
| ROA | 5.6% | 2.9% | 1.2% | 2.8% | 1.8% | 0.8% | 0.2% | 1.7% | 0.9% | 1.9% | -0.2% | 1.0% | -0.7% | -1.9% | -2.2% | -0.1% | -3.2% | -5.5% | -4.7% | -2.5% | -7.8% |
| — | +255.2% | +397.8% | +65.3% | +98.1% | -55.6% | +195.4% | +78.0% | +229.2% | +199.8% | +88.8% | +1150.8% | +78.3% | +66.2% | +52.2% | +96.4% | +59.2% | +50.2% | +47.8% | +17.2% | — | |
| ROIC | 5.9% | 3.3% | 2.1% | 3.8% | 1.4% | 0.9% | -0.1% | 2.2% | 0.9% | 0.3% | -0.8% | 1.9% | -1.3% | -2.6% | -2.9% | -0.9% | -3.2% | -5.7% | -5.7% | -8.3% | -56.5% |
| — | +251.8% | +3482.3% | +70.7% | +50.2% | +260.4% | +92.5% | +15.4% | +168.6% | +110.2% | +70.8% | +316.8% | +58.7% | +54.9% | +49.6% | +89.3% | +94.3% | +81.9% | +79.7% | -219.3% | -2151.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.03 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| — | +106.4% | -18.6% | -4.6% | +31.9% | +25.2% | -11.5% | -24.0% | -43.9% | -40.2% | -35.1% | -31.0% | -30.5% | -32.3% | -33.0% | -12.8% | -5.2% | -85.4% | -79.3% | -82.8% | — | |
| Debt / EBITDA | 0.13 | 0.67 | 0.35 | 0.24 | 0.68 | 1.03 | 6.08 | 0.41 | 0.71 | 2.61 | — | 0.59 | — | — | — | — | — | — | — | — | — |
| — | -34.5% | -94.3% | -41.2% | -3.7% | -60.7% | — | -31.4% | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 3.04 | 2.89 | 3.10 | 3.04 | 3.08 | 3.31 | 3.39 | 3.51 | 3.60 | 3.59 | 3.40 | 3.45 | 3.94 | 4.12 | 4.50 | 4.63 | 5.02 | 5.33 | 5.48 | 5.94 | 5.16 |
| — | -12.7% | -8.6% | -13.5% | -14.6% | -8.0% | -0.3% | +2.0% | -8.5% | -12.7% | -24.3% | -25.6% | -21.6% | -22.7% | -17.9% | -22.0% | -2.7% | +301.1% | +227.8% | +156.9% | — | |
| Quick Ratio | 3.04 | 2.89 | 3.10 | 3.04 | 3.08 | 3.31 | 3.39 | 3.51 | 3.60 | 3.59 | 3.40 | 3.45 | 3.94 | 4.12 | 4.50 | 4.63 | 5.02 | 5.33 | 5.48 | 5.94 | 5.16 |
| — | -12.7% | -8.6% | -13.5% | -14.6% | -8.0% | -0.3% | +2.0% | -8.5% | -12.7% | -24.3% | -25.6% | -21.6% | -22.7% | -17.9% | -22.0% | -2.7% | +301.1% | +227.8% | +156.9% | — | |
| Interest Coverage | — | — | — | — | — | — | — | 55.36 | 4.48 | 17.56 | 0.74 | 10.79 | -6.06 | -24.59 | -0.34 | -2.81 | -1.27 | -3.98 | -1.35 | -73.08 | -6.94 |
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Includes 30+ ratios · 24 years · Updated daily
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Quick answers to the most common questions about buying VTEX stock.
Vtex's current P/E is 33.2x. The average P/E over the last 4 quarters is 27.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Vtex's current operating margin is 7.5%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Vtex's business trajectory between earnings reports.