VTEXNYSEServices-Prepackaged SoftwareFiscal year ends December 31
VTEX
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Feb 26, 2026
$4.18−0.02 (-0.48%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 38.7
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Gross margin
77.5%+12.8 pts over 5 years
Operating margin
7.5%+0.9 pts over 5 years
Net margin
8.3%+9.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +6.1% | +15.1% | +19.5% | – | |
| Gross profit | +11.6% | +21.2% | +23.9% | – | |
| Operating income | +145.2% | – | +22.7% | – | |
| Net income | +26.5% | – | – | – | |
| EPS, diluted | +31.7% | – | – | – | |
| Free cash flow | +35.3% | – | +27.7% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 8.2% | |
| Return on assets | – | – | 5.6% | |
| Current ratio | – | 2.31 | 3.04 | |
| Debt to equity | – | 0.08 | – | |
| Net debt to EBITDA | – | -5.85× | – | |
| Interest coverage | – | 0.9× | – | |
| Capex to revenue | – | 1.7% | 0.4% | |
| Diluted shares | – | – | 0M |
Where the cash went
Fiscal 2021 to 2025, five years combined
VTEX generated $146.95M from operations and spent $110.86M on capital expenditure, dividends and share buybacks. 5% of that went back into the business.
Generated
$146.95M
Used
$110.86M
Capital expenditure$5.31M5%Dividends$00%Share buybacks$105.55M95%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.3%
×Asset turnover0.68×
×Equity multiplier1.45×
=Return on equity, FY20258.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 8.3% | 0.68× | 1.45× | 8.2% |
| FY2024 | 7.0% | 0.64× | 1.42× | 6.4% |
| FY2023 | -7.9% | 0.57× | 1.36× | -6.2% |
| FY2022 | -33.3% | 0.41× | 1.28× | -17.4% |
| FY2021 | -48.1% | 0.45× | 1.38× | -30.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$20.01M
- Cash generatingOperating cash flow above zero$33.37M
- Return on assets improvedROA up on the prior year4.6% → 5.5%
- Earnings backed by cashOperating cash flow above net income$33.37M vs $20.01M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.56 → 3.04
- No dilutionShare count did not rise0M → 0M
- Gross margin improvedGross margin up on the prior year73.66% → 77.47%
- More efficientAsset turnover rose0.66 → 0.66