VTEX
Vtex
VTEX's fundamentals are strong and it looks cheap: trading at 23x earnings, about a third of its usual 72x. Analysts expect strong earnings growth.
VTEX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
VTEX's revenue, profitability, cash flow and balance sheet are all currently healthy.
VTEX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $3.94 | — |
| Current | 23x | $3.94 | — |
| Cheap | 29x | $4.99 | +27% |
| Fair | 72x | $12.19 | +209% |
| Expensive | 137x | $23.24 | +490% |
Historical ranges are pointers, not guarantees.
VTEX's PE is in its cheap range at 23x. If earnings grow as analysts expect, today's price would be 18x next year's earnings.
VTEX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for VTEX, with profitability improving.
VTEX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.22 | +31% |
| Q2 2026 | $0.17 | +143% |
| Q1 2026 | $0.13 | +63% |
| Q4 2025 | $0.11 | +83% |
| Q3 2025 | $0.09 | +80% |
| Q2 2025 | $0.07 | +250% |
| Q1 2025 | $0.08 | +$0.12 |
| Q4 2024 | $0.06 | +$0.13 |
| Q3 2024 | $0.05 | +$0.14 |
VTEX's earnings per share have climbed steadily: $0.17 over the past year, up 143% from the year before, and higher year over year for 15 quarters in a row.
VTEX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $64.4M | +9.5% |
| Q1 2026 | $60.7M | +12% |
| Q4 2025 | $68M | +10% |
| Q3 2025 | $59.6M | +6.5% |
| Q2 2025 | $58.8M | +4% |
| Q1 2025 | $54.2M | +2.9% |
| Q4 2024 | $61.5M | +1.3% |
| Q3 2024 | $56M | +11% |
VTEX's revenue has grown year over year every quarter since early 2021: $64M last quarter, up 9.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 15% | +10 points |
| Q1 2026 | 10% | +11 points |
| Q4 2025 | 17% | +4.9 points |
| Q3 2025 | 7% | +1.9 points |
| Q2 2025 | 5% | +3.5 points |
| Q1 2025 | -0.4% | +4.4 points |
| Q4 2024 | 12% | +2.2 points |
| Q3 2024 | 5.1% | +12 points |
VTEX's operating margin was 15% last quarter, up 10 points from the same quarter a year ago.
VTEX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $13.3M | +86% |
| Q1 2026 | $13.3M | +100% |
| Q4 2025 | $11.1M | -11% |
| Q3 2025 | $7.5M | -9.4% |
| Q2 2025 | $7.1M | +141% |
| Q1 2025 | $6.6M | +325% |
| Q4 2024 | $12.4M | +31% |
| Q3 2024 | $8.3M | +210% |
VTEX generated $45M in free cash flow over the past year, up 31% from the year before.
VTEX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -8.9% | -16.6M shares |
| 3 years | -8.7% | -16.2M shares |
| 5 years | -8.8% | -16.4M shares |
| Available history | -8.8% | -16.4M shares |
VTEX has 171M diluted shares, down 8.9% from a year ago, with $74M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $23.8M |
| Q1 2026 | $9.7M |
| Q4 2025 | $21.3M |
| Q3 2025 | $18.9M |
| Q2 2025 | $3.9M |
| Q1 2025 | $15.1M |
| Q4 2024 | $11.2M |
| Q3 2024 | — |
VTEX spent $74M buying back its own shares over the past year, up 145% from the year before.
VTEX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.2x | Net Cash |
| Q1 2026 | -0.5x | Net Cash |
| Q4 2025 | -0.5x | Net Cash |
| Q3 2025 | -0.7x | Net Cash |
| Q2 2025 | -0.9x | Net Cash |
| Q1 2025 | -0.8x | Net Cash |
| Q4 2024 | -0.5x | Net Cash |
| Q3 2024 | -0.7x | Net Cash |
VTEX has more cash than debt.
VTEX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.7 | Neutral |
| Stochastic | 47.1 | Neutral |
VTEX's weekly RSI is 52 (neutral) and its Stochastic is 47 (neutral).
VTEX PE vs Technology Sector
| Metric | VTEX | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 28x | 17% below |
| PE % | 0 | 44 | 44 pts below |
VTEX is trading at 23x earnings, a 17% discount to the Technology sector's median of 28x.
VTEX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.94 | 0% above |
| 20 week MA | $3.91 | 0.8% above |
| 50 week MA | $3.76 | 4.8% above |
| 100 week MA | $4.52 | 13% below |
| 200 week MA | $5.30 | 26% below |
VTEX's trend is mixed: it's above two of its five weekly moving averages, and 26% below its 200-week average.
VTEX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $25.4 | $11.7 | -54% |
| 2022 | $11.7 | $3.42 | -71% |
| 2023 | $3.42 | $6.88 | +101% |
| 2024 | $6.88 | $5.75 | -16% |
| 2025 | $5.75 | $3.71 | -35% |
| 2026 YTD | $3.71 | $3.94 | +6.2% |
VTEX's yearly returns have swung widely, from +101% in 2023 to −71% in 2022. It's up 6.2% so far in 2026.