$3.58

-0.15 (-4.02%)

Weekly Expected Move ±8.1%

$3 $3 $4 $4 $4

NYSE · Technology · Software - Application · Alpha Radar Sell · Power 42 · $633.5M mcap · 118M float · 1.14% daily turnover · Short 49% of daily vol

Overview Chart Smart Money Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ESG Institutions ETF Exposure Dark Pool Short Interest

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NARROW EDGE

62.3 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: 51.3% · 5Y Avg: -4.4%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. VTEX has a Narrow competitive edge (62.3/100) — meaningful but not impregnable advantages over competitors. The primary source of advantage is Intangible Assets. ROIC of 51.3% confirms the company is generating returns well above its cost of capital — a hallmark of durable competitive advantages.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Low

Avg Target

High

Based on 1 analyst since May 7, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 9Hold: 4Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$4.10

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-05-08	UBS	—	$4	$4	+0	+5.4%	$3.89
2026-01-14	UBS	Leonardo Olmos	$8	$4	-4	+11.1%	$3.60
2025-10-15	Goldman Sachs	—	$16	$5	-11	+23.8%	$4.28
2025-09-17	Jefferies	—	$7	$6	-1	+42.2%	$4.57
2025-08-22	UBS	Leonardo Olmos	Initiated	$8	—	+90.9%	$4.19
2025-05-22	Jefferies	Antonio Pedro Cardoso	Initiated	$7	—	+17.4%	$6.22
2023-06-23	D.A. Davidson	Franco Granda	Initiated	$6	—	+20.0%	$4.58
2022-04-29	Credit Suisse	—	Initiated	$8	—	+47.3%	$5.43
2022-04-25	Piper Sandler	—	Initiated	$11	—	+97.8%	$5.56
2022-01-18	Goldman Sachs	Diego Aragao	Initiated	$16	—	+110.8%	$7.59

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

May 22, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. VTEX receives an overall rating of A. Strongest factors: DCF (5/5), ROE (4/5), ROA (4/5), D/E (4/5). Areas of concern: P/E (2/5).

Rating Change History

Date	From	To
2026-05-11	A-	A
2026-04-06	B+	A-
2026-03-31	A-	B+
2026-03-30	B+	A-
2026-03-27	A-	B+
2026-03-02	B	A-
2026-02-27	B-	B
2026-01-03	B	B-

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 73 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. VTEX scores highest in Safety (100/100) and lowest in Profitability (46/100). An overall grade of A places VTEX among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

4.85

Safe Zone

Piotroski F-Score

7/9

✓ ✓ ✓ ✓ ✗ ✗ ✓ ✓ ✓

Beneish M-Score

-2.73

Unlikely Manipulator

Ohlson O-Score

-8.96

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AA+

Score: 91.9/100

Trend: Stable

Earnings Quality

100/100

OCF/NI: 1.72x

Accruals: -4.7%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. VTEX scores 4.85, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. VTEX scores 7/9, signaling strong financial health across all three dimensions. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. VTEX's score of -2.73 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. VTEX's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. VTEX receives an estimated rating of AA+ (score: 91.9/100), with a stable trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). VTEX's score of 100/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

26.34x

PEG

0.46x

P/S

2.56x

P/B

2.62x

P/FCF

17.53x

P/OCF

17.07x

EV/EBITDA

16.57x

EV/Revenue

2.00x

EV/EBIT

18.71x

EV/FCF

12.68x

Earnings Yield

3.40%

FCF Yield

5.70%

Shareholder Yield

7.87%

Graham Number

$2.04

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 26.3x earnings, VTEX commands a growth premium. Graham's intrinsic value formula yields $2.04 per share, 75% below the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.924

NI / EBT

Interest Burden

0.951

EBT / EBIT

EBIT Margin

0.107

EBIT / Rev

Asset Turnover

0.693

Rev / Assets

Equity Multiplier

1.458

Assets / Equity

ROE

9.5%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. VTEX's ROE of 9.5% is driven by Asset Turnover (0.693), indicating efficient use of assets to generate revenue. A tax burden ratio of 0.92 indicates minimal tax leakage — the company retains over 90% of pre-tax earnings.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Adj. Growth Rate

51.29%

Fair P/E

111.08x

Intrinsic Value

$15.10

Price/Value

0.26x

Margin of Safety

73.50%

Premium

-73.50%

Assessment

Undervalued

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with VTEX's realized 51.3% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. At an intrinsic value of $15.10, VTEX appears undervalued with a 74% margin of safety. The adjusted fair P/E of 111.1x compares to the current market P/E of 26.3x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1216 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$3.58

Median 1Y

$2.04

5th Pctile

$0.75

95th Pctile

$5.54

Ann. Volatility

61.5%

Analyst Target

$4.10

25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

544

+7.9% YoY

Revenue / Employee

$442,127

Rev: $240,517,000

Profit / Employee

$36,783

NI: $20,010,000

SGA / Employee

$188,676

Avg labor cost proxy

R&D / Employee

$117,447

Innovation spend

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
ROE	-29.0%	-10.0%	-15.8%	-22.4%	-31.1%	-17.4%	-13.7%	-8.8%	-5.7%	-5.3%	-2.6%	2.5%	4.7%	6.1%	6.8%	5.4%	6.6%	8.2%	9.5%	9.49%
ROA	-15.7%	-7.9%	-12.5%	-17.6%	-22.6%	-13.6%	-10.7%	-6.8%	-4.5%	-3.9%	-1.9%	1.9%	3.5%	4.3%	4.8%	3.8%	4.7%	5.6%	6.5%	6.51%
ROIC	-1.7%	-77.5%	-1.1%	-1.5%	-1.2%	-92.0%	-79.1%	-57.4%	-43.0%	-33.0%	-16.7%	1.5%	20.9%	21.5%	22.6%	24.9%	26.8%	36.4%	51.3%	51.25%
ROCE	-23.4%	-12.3%	-15.7%	-22.4%	-19.4%	-24.6%	-21.2%	-15.3%	-12.2%	-1.6%	-1.8%	1.0%	2.6%	3.0%	3.8%	4.6%	6.0%	7.7%	10.2%	10.21%
Gross Margin	59.9%	62.9%	63.6%	66.4%	67.4%	67.9%	65.6%	67.6%	70.3%	73.9%	71.9%	73.5%	74.5%	74.9%	75.7%	77.0%	77.3%	79.5%	78.8%	78.84%
Operating Margin	-76.5%	-35.4%	-48.1%	-48.9%	-29.1%	-6.7%	-23.0%	-14.9%	-6.9%	9.4%	-4.7%	1.4%	5.1%	11.6%	-0.4%	5.0%	7.0%	16.5%	10.3%	10.30%
Net Margin	-68.9%	-28.6%	-55.1%	-55.4%	-29.8%	-0.7%	-18.8%	-13.8%	-4.7%	5.3%	-1.6%	11.6%	5.8%	10.2%	1.6%	5.1%	10.7%	14.4%	6.7%	6.69%
EBITDA Margin	-65.2%	-55.8%	-31.9%	-58.8%	-25.4%	-53.8%	-1.8%	-10.9%	-1.3%	12.2%	-2.6%	2.1%	6.2%	14.6%	1.0%	6.4%	12.1%	17.3%	11.7%	11.74%
FCF Margin	-33.7%	-43.7%	-44.6%	-41.4%	-34.5%	-18.8%	-11.2%	-5.2%	-1.7%	1.9%	4.9%	7.6%	9.9%	11.1%	13.3%	14.9%	14.4%	13.4%	15.8%	15.78%
OCF Margin	-32.1%	-42.8%	-43.9%	-40.8%	-34.2%	-18.5%	-10.9%	-5.0%	-1.5%	2.1%	5.4%	8.3%	10.7%	12.0%	13.9%	15.4%	14.9%	13.9%	16.2%	16.20%
ROE 3Y Avg	snapshot only																			4.60%
ROE 5Y Avg	snapshot only																			-3.40%
ROA 3Y Avg	snapshot only																			3.13%
ROIC 3Y Avg	snapshot only																			20.89%
ROIC Economic	snapshot only																			9.81%
Cash ROA	snapshot only																			11.55%
Cash ROIC	snapshot only																			90.40%
CROIC	snapshot only																			88.02%
NOPAT Margin	snapshot only																			9.19%
Pretax Margin	snapshot only																			10.17%
R&D / Revenue	snapshot only																			26.74%
SGA / Revenue	snapshot only																			41.29%
SBC / Revenue	snapshot only																			-3.94%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
P/E Ratio	-173.19	-62.83	-22.75	-8.06	-11.26	-13.52	-17.52	-34.00	-54.07	-92.50	-227.56	212.72	117.45	74.39	56.44	92.57	49.68	33.95	29.43	26.343
P/S Ratio	119.35	29.68	11.34	4.14	4.73	4.50	4.37	5.15	5.00	6.28	7.10	6.33	6.34	5.00	4.19	5.37	3.50	2.82	2.77	2.564
P/B Ratio	50.29	6.26	3.59	1.80	2.16	2.58	2.63	3.27	3.39	5.27	6.26	5.81	5.96	4.43	3.74	4.84	3.20	2.91	2.93	2.625
P/FCF	-353.83	-67.95	-25.44	-10.00	-13.72	-23.97	-39.11	-98.38	-294.74	334.33	145.38	83.85	64.27	44.96	31.59	35.93	24.32	21.01	17.53	17.531
P/OCF	—	—	—	—	—	—	—	—	—	297.28	131.82	76.70	59.19	41.55	30.20	34.90	23.46	20.36	17.07	17.068
EV/EBITDA	-180.02	-42.41	-16.88	-3.99	-6.48	-7.00	-8.48	-16.52	-22.49	1397.62	8965.36	181.94	114.82	75.19	52.55	61.30	29.60	21.11	16.57	16.568
EV/Revenue	117.33	25.49	8.56	2.11	2.80	3.03	2.97	3.82	3.76	5.26	6.14	5.40	5.43	4.06	3.26	4.45	2.59	2.04	2.00	2.000
EV/EBIT	-171.54	-40.22	-15.87	-3.76	-6.05	-6.55	-7.84	-14.73	-19.36	-249.07	-274.31	465.13	177.82	106.45	68.06	78.60	35.55	24.56	18.71	18.710
EV/FCF	-347.84	-58.36	-19.19	-5.10	-8.11	-16.13	-26.57	-72.99	-221.45	280.11	125.55	71.53	55.05	36.56	24.60	29.78	18.03	15.16	12.68	12.676
Earnings Yield	-0.6%	-1.6%	-4.4%	-12.4%	-8.9%	-7.4%	-5.7%	-2.9%	-1.8%	-1.1%	-0.4%	0.5%	0.9%	1.3%	1.8%	1.1%	2.0%	2.9%	3.4%	3.40%
FCF Yield	-0.3%	-1.5%	-3.9%	-10.0%	-7.3%	-4.2%	-2.6%	-1.0%	-0.3%	0.3%	0.7%	1.2%	1.6%	2.2%	3.2%	2.8%	4.1%	4.8%	5.7%	5.70%
PEG Ratio	snapshot only																			0.459
Price/Tangible Book	snapshot only																			3.430
EV/OCF	snapshot only																			12.341
EV/Gross Profit	snapshot only																			2.557
Acquirers Multiple	snapshot only																			20.118
Shareholder Yield	snapshot only																			7.87%
Graham Number	snapshot only																			$2.04

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Current Ratio	2.31	5.94	5.94	5.94	5.94	4.63	4.63	4.63	4.63	3.45	3.45	3.45	3.45	3.51	3.51	3.51	3.51	3.04	3.04	3.041
Quick Ratio	2.31	5.94	5.94	5.94	5.94	4.63	4.63	4.63	4.63	3.45	3.45	3.45	3.45	3.51	3.51	3.51	3.51	3.04	3.04	3.041
Debt/Equity	0.17	0.03	0.03	0.03	0.03	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.012
Net Debt/Equity	-0.85	-0.88	-0.88	-0.88	-0.88	-0.84	-0.84	-0.84	-0.84	-0.85	-0.85	-0.85	-0.85	-0.83	-0.83	-0.83	-0.83	-0.81	-0.81	-0.810
Debt/Assets	0.09	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.008
Debt/EBITDA	-0.60	-0.22	-0.18	-0.12	-0.14	-0.10	-0.12	-0.17	-0.22	5.40	28.25	0.63	0.38	0.27	0.23	0.20	0.16	0.12	0.10	0.097
Net Debt/EBITDA	3.10	6.97	5.50	3.84	4.49	3.40	4.00	5.75	7.44	-270.50	-1415.95	-31.36	-19.23	-17.27	-14.93	-12.64	-10.32	-8.15	-6.35	-6.346
Interest Coverage	-6.94	-12.71	-4.49	-4.32	-2.87	-2.21	-2.10	-1.88	-2.31	-0.60	-0.35	0.19	0.49	0.64	10.39	19.47	118.50	—	—	—
Equity Multiplier	1.85	1.27	1.27	1.27	1.27	1.30	1.30	1.30	1.30	1.42	1.42	1.42	1.42	1.43	1.43	1.43	1.43	1.48	1.48	1.485
Cash Ratio	snapshot only																			2.184
Cash to Debt	snapshot only																			66.609
FCF to Debt	snapshot only																			13.514
Defensive Interval	snapshot only																			549.1 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Asset Turnover	0.23	0.17	0.25	0.34	0.54	0.41	0.43	0.45	0.48	0.58	0.61	0.63	0.65	0.64	0.64	0.65	0.66	0.67	0.69	0.693
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	1.30	1.99	2.99	4.10	5.04	4.41	4.62	4.88	5.21	4.98	5.23	5.45	5.58	4.69	4.72	4.77	4.84	4.22	4.33	4.330
Payables Turnover	1.28	0.90	1.33	1.77	2.63	1.66	1.72	1.80	1.87	1.65	1.66	1.64	1.62	1.55	1.51	1.47	1.45	1.48	1.47	1.472
DSO	281	184	122	89	72	83	79	75	70	73	70	67	65	78	77	77	75	87	84	84.3 days
DIO	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0 days
DPO	285	406	275	207	139	220	212	203	195	221	220	222	225	235	242	248	251	246	248	248.0 days
Cash Conversion Cycle	-4	-223	-153	-118	-66	-137	-133	-128	-125	-148	-151	-155	-160	-158	-165	-171	-176	-160	-164	-163.7 days
Fixed Asset Turnover	snapshot only																			41.202
Cash Velocity	snapshot only																			1.286
Capital Intensity	snapshot only																			1.403

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue	—	—	—	—	3.7%	1.3%	59.4%	22.5%	24.8%	27.8%	28.2%	26.4%	21.3%	12.5%	7.7%	4.5%	3.6%	6.1%	8.3%	8.25%
Net Income	—	—	—	—	-1.9%	-60.9%	20.2%	63.9%	72.5%	73.9%	84.0%	1.2%	1.7%	2.1%	3.6%	1.0%	35.2%	31.5%	37.1%	37.06%
EPS	—	—	—	—	-1.8%	-62.6%	18.9%	63.1%	71.8%	73.2%	83.6%	1.2%	1.7%	2.1%	3.5%	1.1%	39.2%	39.9%	51.3%	51.29%
FCF	—	—	—	—	-3.8%	1.9%	60.0%	84.5%	93.9%	1.1%	1.6%	2.8%	8.0%	5.7%	1.9%	1.1%	51.1%	28.4%	28.8%	28.80%
EBITDA	—	—	—	—	-2.1%	-64.4%	-10.2%	46.5%	51.7%	1.0%	1.0%	1.2%	1.3%	15.1%	96.7%	1.6%	92.0%	89.6%	1.1%	1.10%
Op. Income	—	—	—	—	-1.5%	-33.1%	20.7%	57.4%	61.1%	70.7%	82.8%	1.0%	1.3%	1.6%	2.4%	22.0%	1.0%	1.2%	1.3%	1.31%
OCF Growth	snapshot only																			26.45%
Asset Growth	snapshot only																			-5.49%
Equity Growth	snapshot only																			-8.70%
Debt Growth	snapshot only																			-12.92%
Shares Change	snapshot only																			-9.40%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue 3Y	—	—	—	—	—	—	—	—	—	—	—	—	92.1%	48.7%	30.1%	17.4%	16.2%	15.1%	14.3%	14.35%
Revenue 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross Profit 3Y	—	—	—	—	—	—	—	—	—	—	—	—	1.1%	58.0%	38.2%	24.5%	22.4%	21.2%	20.5%	20.49%
Gross Profit 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Assets 3Y	—	—	—	—	—	—	—	—	—	—	—	—	34.6%	-4.0%	-4.0%	-4.0%	-4.0%	-1.0%	-1.0%	-1.04%
Assets 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Equity 3Y	—	—	—	—	—	—	—	—	—	—	—	—	47.0%	-7.9%	-7.9%	-7.9%	-7.9%	-5.3%	-5.3%	-5.27%
Book Value 3Y	—	—	—	—	—	—	—	—	—	—	—	—	45.1%	-8.1%	-7.5%	-7.3%	-7.2%	-3.8%	-2.1%	-2.15%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue Stability	—	—	—	—	—	—	—	—	0.92	0.96	0.99	0.99	0.91	0.93	0.94	0.95	0.94	0.94	0.93	0.933
Earnings Stability	—	—	—	—	—	—	—	—	0.01	0.24	0.91	0.99	0.38	0.67	0.96	0.91	0.57	0.78	0.95	0.953
Margin Stability	—	—	—	—	—	—	—	—	0.94	0.94	0.93	0.93	0.91	0.92	0.92	0.92	0.93	0.93	0.93	0.933
Rev. Growth Consistency	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
FCF Positive Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1
Earnings Persistence	—	—	—	—	—	—	—	—	0.50	0.50	0.50	0.20	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.500
Earnings Smoothness	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.32	0.70	0.73	0.69	0.687
ROE Trend	—	—	—	—	—	—	—	—	0.18	0.09	0.13	0.19	0.18	0.18	0.16	0.09	0.07	0.08	0.08	0.080
Gross Margin Trend	—	—	—	—	—	—	—	—	0.05	0.06	0.07	0.07	0.07	0.06	0.06	0.06	0.05	0.06	0.05	0.053
FCF Margin Trend	—	—	—	—	—	—	—	—	0.32	0.33	0.33	0.31	0.28	0.20	0.16	0.14	0.10	0.07	0.07	0.067
Sustainable Growth Rate	—	—	—	—	—	—	—	—	—	—	—	2.5%	4.7%	6.1%	6.8%	5.4%	6.6%	8.2%	9.5%	9.49%
Internal Growth Rate	—	—	—	—	—	—	—	—	—	—	—	1.9%	3.6%	4.5%	5.0%	3.9%	4.9%	5.9%	7.0%	6.96%

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
OCF/Net Income	0.47	0.91	0.88	0.79	0.81	0.56	0.44	0.33	0.16	-0.31	-1.73	2.77	1.98	1.79	1.87	2.65	2.12	1.67	1.72	1.724
FCF/OCF	1.05	1.02	1.02	1.01	1.01	1.01	1.02	1.04	1.11	0.89	0.91	0.91	0.92	0.92	0.96	0.97	0.96	0.97	0.97	0.974
FCF/Net Income	snapshot only																			1.679
OCF/EBITDA	snapshot only																			1.342
CapEx/Revenue	1.7%	0.9%	0.7%	0.5%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.5%	0.7%	0.8%	0.9%	0.6%	0.4%	0.5%	0.4%	0.4%	0.43%
CapEx/Depreciation	snapshot only																			0.310
Accruals Ratio	-0.08	-0.01	-0.01	-0.04	-0.04	-0.06	-0.06	-0.05	-0.04	-0.05	-0.05	-0.03	-0.03	-0.03	-0.04	-0.06	-0.05	-0.04	-0.05	-0.047
Sloan Accruals	snapshot only																			-0.077
Cash Flow Adequacy	snapshot only																			37.871
Earnings Quality Score	snapshot only																			1.000

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
FCF Payout Ratio	—	—	—	—	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Total Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	3.3%	83.6%	73.6%	1.6%	2.3%	3.0%	3.0%	2.3%	2.32%
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.7%	1.8%	2.5%	3.0%	3.5%	2.8%	2.0%	1.5%	0.7%	1.0%	2.7%	2.4%	6.0%	8.7%	7.9%	7.87%
Net Buyback Yield	-7.8%	-13.8%	-24.0%	-47.8%	-1.3%	1.8%	2.5%	3.0%	3.5%	2.8%	2.0%	1.5%	0.7%	0.9%	2.7%	2.4%	6.0%	8.7%	7.9%	7.87%
Total Shareholder Return	-7.8%	-13.8%	-24.0%	-47.8%	-1.3%	1.8%	2.5%	3.0%	3.5%	2.8%	2.0%	1.5%	0.7%	0.9%	2.7%	2.4%	6.0%	8.7%	7.9%	7.87%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Tax Burden (NI/EBT)	0.89	0.83	0.86	0.87	0.89	0.93	0.96	1.03	1.04	1.29	1.12	0.93	1.06	1.15	0.94	0.87	0.84	0.89	0.92	0.924
Interest Burden (EBT/EBIT)	1.14	0.89	1.08	1.06	1.03	0.78	0.69	0.57	0.46	2.49	1.25	2.76	1.66	1.53	1.64	1.18	1.14	1.13	0.95	0.951
EBIT Margin	-0.68	-0.63	-0.54	-0.56	-0.46	-0.46	-0.38	-0.26	-0.19	-0.02	-0.02	0.01	0.03	0.04	0.05	0.06	0.07	0.08	0.11	0.107
Asset Turnover	0.23	0.17	0.25	0.34	0.54	0.41	0.43	0.45	0.48	0.58	0.61	0.63	0.65	0.64	0.64	0.65	0.66	0.67	0.69	0.693
Equity Multiplier	1.85	1.27	1.27	1.27	1.38	1.28	1.28	1.28	1.28	1.36	1.36	1.36	1.36	1.43	1.43	1.43	1.43	1.46	1.46	1.458

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
EPS (Diluted TTM)	$-0.12	$-0.17	$-0.27	$-0.38	$-0.33	$-0.28	$-0.22	$-0.14	$-0.09	$-0.07	$-0.04	$0.03	$0.06	$0.08	$0.09	$0.07	$0.09	$0.11	$0.14	$0.14
Book Value/Share	$0.41	$1.71	$1.71	$1.71	$1.71	$1.45	$1.46	$1.47	$1.48	$1.31	$1.30	$1.25	$1.25	$1.33	$1.36	$1.36	$1.37	$1.29	$1.37	$1.36
Tangible Book/Share	$0.33	$1.54	$1.54	$1.53	$1.54	$1.29	$1.29	$1.30	$1.31	$1.14	$1.14	$1.09	$1.09	$1.18	$1.20	$1.21	$1.21	$1.10	$1.17	$1.17
Revenue/Share	$0.17	$0.36	$0.54	$0.74	$0.78	$0.83	$0.88	$0.93	$1.00	$1.10	$1.15	$1.15	$1.17	$1.18	$1.21	$1.23	$1.25	$1.33	$1.45	$1.45
FCF/Share	$-0.06	$-0.16	$-0.24	$-0.31	$-0.27	$-0.16	$-0.10	$-0.05	$-0.02	$0.02	$0.06	$0.09	$0.12	$0.13	$0.16	$0.18	$0.18	$0.18	$0.23	$0.23
OCF/Share	$-0.06	$-0.15	$-0.24	$-0.30	$-0.27	$-0.15	$-0.10	$-0.05	$-0.02	$0.02	$0.06	$0.09	$0.13	$0.14	$0.17	$0.19	$0.19	$0.18	$0.23	$0.23
Cash/Share	$0.42	$1.56	$1.56	$1.56	$1.56	$1.26	$1.27	$1.28	$1.28	$1.14	$1.14	$1.09	$1.09	$1.12	$1.14	$1.15	$1.15	$1.06	$1.12	$1.13
EBITDA/Share	$-0.11	$-0.22	$-0.27	$-0.39	$-0.34	$-0.36	$-0.31	$-0.22	$-0.17	$0.00	$0.00	$0.03	$0.06	$0.06	$0.08	$0.09	$0.11	$0.13	$0.17	$0.17
Debt/Share	$0.07	$0.05	$0.05	$0.05	$0.05	$0.04	$0.04	$0.04	$0.04	$0.02	$0.02	$0.02	$0.02	$0.02	$0.02	$0.02	$0.02	$0.02	$0.02	$0.02
Net Debt/Share	$-0.35	$-1.51	$-1.51	$-1.51	$-1.51	$-1.23	$-1.23	$-1.24	$-1.25	$-1.12	$-1.11	$-1.07	$-1.07	$-1.10	$-1.12	$-1.13	$-1.13	$-1.05	$-1.11	$-1.11

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	4.848
Altman Z-Prime	snapshot only																			9.410
Piotroski F-Score	2	2	2	2	5	4	5	5	5	6	6	6	6	8	8	9	8	7	7	7
Beneish M-Score	—	—	—	—	-2.09	-2.66	-2.65	-2.55	-2.52	-2.49	-2.52	-2.45	-2.44	-2.39	-2.44	-2.53	-2.48	-2.70	-2.73	-2.726
Ohlson O-Score	snapshot only																			-8.960
ROIC (Greenblatt)	snapshot only																			14.23%
Net-Net WC	snapshot only																			$0.90
EVA	snapshot only																			$18267018.10

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Credit Rating	snapshot only																			AA+
Credit Score	57.94	59.71	59.91	61.12	61.11	62.14	61.48	61.54	61.35	61.22	58.58	71.04	70.34	70.37	91.87	93.52	94.85	91.95	91.89	91.888
Credit Grade	snapshot only																			2
Credit Trend	snapshot only																			0.014
Implied Spread (bps)	snapshot only																			65.000
Industry Credit Rank	snapshot only																			84
Sector Credit Rank	snapshot only																			82

VTEX NYSE

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Workforce & Productivity

Scaling Efficiency

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