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Vertex, Inc. (VERX) stock

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NASDAQ: VERX Nasdaq Application Software Next results ~November 4, 2026

C Fundamentals grade

Vertex, Inc. is a US-listed company in the application software industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$11

Cash-flow model

Base case. Range ~$8.3–$15 across our lower- and higher-growth cases (7.5%–17.5% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 28% below it.

Price used: $15.83, November 2, 2026

Vertex, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders4 buying, 1 selling5 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds125 adding, 108 cuttingOf 44 active managers that changed their stake, 25 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Vertex files

Where Vertex stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $787m, up 10.8% on a year earlier, slower than the 11.8% growth a quarter earlier. Free-cash-flow margin held at 8.4%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 5 financial-health checks. Our price-to-sales vs peers value is $40.19 a share, against a share price of $14.72.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Vertex, Inc.'s trailing-twelve-month revenue grew 10.8% year on year, with a free-cash-flow margin of 8.4%.

Our discounted-cash-flow model values the business at ~$11 per share in the base case (~$8.3–$15 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth decelerating: TTM revenue growth slowed to 10.8% (-1.0pp vs the prior quarter), the 7th consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $15.83 is 28% above our value per share of $11.
  • Loss-making. Operating margin is -1.7%: costs exceed revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 61% and a beta of 0.3 against the S&P 500.

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
$0.20 against an average estimate of $0.19: beat by 4.8%
Revenue
$204m, up 10.5% on a year earlier
Share reaction
-4.0% in the first session after the results on August 3, 2026, against +3.3% for the S&P 500
Next report
November 4, 2026; average EPS estimate $0.22

Vertex's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.3%
  • 1 week+4.4%
  • 1 month+31.8%
  • This year-20.7%
  • 1 year-30.9%
  • 5 years-24.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$787M
Operating margin
-1.7%
Net margin
0.5%

Growth

Revenue growth
+10.8%
Change in growth rate
−1.0 pts

Cash

Free cash flow (TTM)
$66.2M
FCF margin
8.4%
Stock pay % of revenue
7.2%

Earnings

Last results
August 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Vertex, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 16.7% a year of cash-flow growth for five years.That is close to the 13.1% a year revenue growth Vertex has delivered.

  • Priced in16.7%
  • Last 12 months10.8%
  • 3 years a year14.1%
  • 5 years a year13.1%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($15.10, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$11
Price used
$15.10close November 3, 2026
Implied change
▼ 24%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Vertex, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($34.8M, FY2026 Q2 TTM), growing 11.2% and 11.8% in the next two years (forecasts, guidance and its record), then back to 12.5% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$8.3–~$15 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Vertex, Inc.'s free cash flow after stock-based pay ( $34.8M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Vertex, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.95 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$11 ~$8.3–$15 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$14 ~$12–$24 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$12 ~$11–$14 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Vertex, Inc. with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −26%
  • Revenue growth 5 points higher ▲ +34%
  • Free-cash-flow margin 1 point lower ▼ −13%
  • Last year's free-cash-flow margin change, if it persists ▲ +7%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $5$7$10$14$19$26
8.5% $3$5$7$10$14$18
10% $3$4$5$8$10$14

Moat

56 /100

Moderate moat

How hard Vertex's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 13 / 20

    Cash operating profit has been a median 10.1% of total assets over 6 years.

  • Pricing power 20 / 20

    Gross margin has been a median 61.2%, moving by 1.8 percentage points (standard deviation) across 7 years.

  • Durability 10 / 20

    Operating margin has been a median -1.7%; its worst year was -11.8%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 7 of 7 years, at a median 8.4% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (71 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $210m and EPS of $0.22 (range $0.19 to $0.24) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.82 +29% $827m +11%
Next $1.03 +25% $914m +11%

Next year's EPS estimate has moved −1.1% in 90 days, across 13 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.3% on 90 days ago. In the last 30 days, 9 analysts raised Vertex, Inc.'s forecast and 3 cut it.

Consensus EPS forecast Vertex, Inc., last 90 days
$0.80 $0.90 $1.00 $1.10 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.81 Current fiscal year, 60 days ago: $0.82 Current fiscal year, 30 days ago: $0.82 Current fiscal year, 7 days ago: $0.82 Current fiscal year, Now: $0.82 $0.82 Next fiscal year, 90 days ago: $1.04 Next fiscal year, 60 days ago: $1.02 Next fiscal year, 30 days ago: $1.02 Next fiscal year, 7 days ago: $1.02 Next fiscal year, Now: $1.03 $1.03

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.81$1.04
60 days ago $0.82$1.02
30 days ago $0.82$1.02
7 days ago $0.82$1.02
Now $0.82$1.03

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.19 $0.20 +4.8%
Mar 2026 $0.16 $0.17 +3.3%
Dec 2025 $0.16 $0.17 +3.5%
Sept 2025 $0.16 $0.17 +7.8%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Vertex, Inc.'s revenue by +11.2% next year and +11.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+10.6%, weight 68%) and the company's own record (+12.5%, weight 32%) . How the weights are set.

Analyst recommendations

14 analysts, Oct 2026
Buy643%
Hold857%
Sell00%

Monthly trend

  1. Oct 202633814
  2. Sep 202634815
  3. Aug 202634815

Counts of recommendations published by analysts covering Vertex, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.0%
of tradable shares
Days to cover
4.05
at average volume
Short interest, 1 month
+1%
to October 15, 2026
Held by institutions
95%
of shares
Held by insiders
7.0%
of shares
Employees
2,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
VERX−55%−9%+86%+98%−63%−21%
Industry peers (median)−7%−50%+19%+2%−20%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
VERX25%33%67%50%33%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
VERX−59%−43%−23%−17%−68%−47%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since July 29, 2020: 82% from January 28, 2025 to June 22, 2026. Getting back needed a 457% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$10.58 – $20.71
From 52-week high
−23.6%
vs 50-day average
+19.9%
vs 200-day average
+19.3%
Volatility (1 year)
61%
Beta vs S&P 500
0.35

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±10.1%
After a week
4 up, 8 down
typical move ±8.8%
After a month
6 up, 6 down
typical move ±13.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 3, 2026 −4.0% +3.3% −6.0% +7.1%
May 7, 2026 +17.9% +0.5% −2.2% +2.0%
February 11, 2026 −16.9% −1.6% −13.9% −10.6%
November 3, 2025 −13.1% −1.0% −16.2% −13.6%
October 21, 2025 +0.8% −0.5% −2.1% −23.5%
August 6, 2025 −16.9% +0.7% −19.9% −27.3%
May 7, 2025 −3.0% +1.1% +0.3% +6.1%
February 27, 2025 −24.3% −0.1% −20.1% −16.6%
November 6, 2024 +17.4% +3.3% +15.7% +28.8%
August 7, 2024 −1.4% +1.6% +0.2% −2.5%
May 8, 2024 +1.3% +0.6% +5.5% +13.7%
April 23, 2024 −3.8% +1.1% −3.0% +10.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Vertex, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Vertex, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Vertex, Inc.
$500M $600M $700M $800M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $548.6M Revenue (TTM), FY23 Q4: $572.4M Revenue (TTM), FY24 Q1: $596.4M Revenue (TTM), FY24 Q2: $617.8M Revenue (TTM), FY24 Q3: $643.2M Revenue (TTM), FY24 Q4: $666.8M Revenue (TTM), FY25 Q1: $687.1M Revenue (TTM), FY25 Q2: $710.5M Revenue (TTM), FY25 Q3: $732.2M Revenue (TTM), FY25 Q4: $748.4M Revenue (TTM), FY26 Q1: $768M Revenue (TTM), FY26 Q2: $787.4M $787.4M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $548.6M
FY23 Q4 $572.4M
FY24 Q1 $596.4M
FY24 Q2 $617.8M
FY24 Q3 $643.2M
FY24 Q4 $666.8M
FY25 Q1 $687.1M
FY25 Q2 $710.5M
FY25 Q3 $732.2M
FY25 Q4 $748.4M
FY26 Q1 $768M
FY26 Q2 $787.4M
Revenue growth, TTM YoY Vertex, Inc.
10% 12% 14% 16% 18% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 16.2% Revenue growth, TTM YoY, FY23 Q4: 16.4% Revenue growth, TTM YoY, FY24 Q1: 17.1% Revenue growth, TTM YoY, FY24 Q2: 16.6% Revenue growth, TTM YoY, FY24 Q3: 17.3% Revenue growth, TTM YoY, FY24 Q4: 16.5% Revenue growth, TTM YoY, FY25 Q1: 15.2% Revenue growth, TTM YoY, FY25 Q2: 15.0% Revenue growth, TTM YoY, FY25 Q3: 13.8% Revenue growth, TTM YoY, FY25 Q4: 12.2% Revenue growth, TTM YoY, FY26 Q1: 11.8% Revenue growth, TTM YoY, FY26 Q2: 10.8% 10.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 16.2%
FY23 Q4 16.4%
FY24 Q1 17.1%
FY24 Q2 16.6%
FY24 Q3 17.3%
FY24 Q4 16.5%
FY25 Q1 15.2%
FY25 Q2 15.0%
FY25 Q3 13.8%
FY25 Q4 12.2%
FY26 Q1 11.8%
FY26 Q2 10.8%
Operating margin (TTM) Vertex, Inc.
-4% -2% 0% 2% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -3.4% Operating margin (TTM), FY23 Q4: -3.1% Operating margin (TTM), FY24 Q1: -1.7% Operating margin (TTM), FY24 Q2: 0.2% Operating margin (TTM), FY24 Q3: 1.3% Operating margin (TTM), FY24 Q4: -0.3% Operating margin (TTM), FY25 Q1: 0.6% Operating margin (TTM), FY25 Q2: -1.1% Operating margin (TTM), FY25 Q3: -1.1% Operating margin (TTM), FY25 Q4: 0.3% Operating margin (TTM), FY26 Q1: -1.7% Operating margin (TTM), FY26 Q2: -1.7% -1.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -3.4%
FY23 Q4 -3.1%
FY24 Q1 -1.7%
FY24 Q2 0.2%
FY24 Q3 1.3%
FY24 Q4 -0.3%
FY25 Q1 0.6%
FY25 Q2 -1.1%
FY25 Q3 -1.1%
FY25 Q4 0.3%
FY26 Q1 -1.7%
FY26 Q2 -1.7%
FCF margin (TTM) Vertex, Inc.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 3.6% FCF margin (TTM), FY23 Q4: 4.4% FCF margin (TTM), FY24 Q1: 7.0% FCF margin (TTM), FY24 Q2: 20.1% FCF margin (TTM), FY24 Q3: 13.3% FCF margin (TTM), FY24 Q4: 14.0% FCF margin (TTM), FY25 Q1: 10.3% FCF margin (TTM), FY25 Q2: 7.9% FCF margin (TTM), FY25 Q3: 9.9% FCF margin (TTM), FY25 Q4: 9.2% FCF margin (TTM), FY26 Q1: 11.3% FCF margin (TTM), FY26 Q2: 8.4% 8.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 3.6%
FY23 Q4 4.4%
FY24 Q1 7.0%
FY24 Q2 20.1%
FY24 Q3 13.3%
FY24 Q4 14.0%
FY25 Q1 10.3%
FY25 Q2 7.9%
FY25 Q3 9.9%
FY25 Q4 9.2%
FY26 Q1 11.3%
FY26 Q2 8.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 272 322 375 426 492 572 667 748 787
Gross profit 177 211 209 264 298 349 426 482 504
EBITDA 22 57 −73 42 53 54 81 99 94
Operating income −3 32 −105 −3 −8 −18 −2 2 −13
Net income −6 31 −75 −1 −12 −13 −53 7 4
Growth (year on year)
Revenue — +18.0% +16.5% +13.6% +15.5% +16.4% +16.5% +12.2% +10.8%
EBITDA — +158.5% −227.2% — +26.8% +2.5% +48.0% +23.3% +18.3%
Operating income — — −428.9% — — — — — —
Net income — — −341.8% — — — — — —
Margins
Gross margin 64.9% 65.7% 55.9% 62.0% 60.7% 60.9% 63.9% 64.3% 64.0%
EBITDA margin 8.1% 17.7% −19.4% 9.8% 10.8% 9.5% 12.1% 13.3% 11.9%
Operating margin −1.0% 9.9% −28.0% −0.7% −1.6% −3.1% −0.3% 0.3% −1.7%
Net margin −2.2% 9.7% −20.0% −0.3% −2.5% −2.3% −7.9% 1.0% 0.5%
Free-cash-flow margin 21.8% 22.4% 10.3% 13.8% 3.7% 4.4% 14.0% 22.1% 22.0%
Cash flow
Cash from operations 80 92 60 90 64 74 165 166 174
Capital spending 21 20 21 32 46 49 72 0 0
Free cash flow 59 72 39 59 18 25 93 166 174
Stock-based pay 5 9 148 26 20 34 47 58 57
Free cash flow after stock pay 54 63 −109 32 −1 −9 46 108 117
Balance sheet
Cash 56 76 303 73 92 68 296 314 230
Total debt 0 51 1 — 49 47 345 345 345
Net debt (negative = net cash) −56 −24 −302 −73 −43 −21 49 31 115
Returned to shareholders
Dividends 28 29 146 — — — — — —
Buybacks 1 1 — — — — — 10 —
Total returned 29 29 146 — — — — 10 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · June 30, 2026
What it owns · $1.2bn
Short-term assets $492mLonger-term assets $718m
What it owes, and who funded it · $1.2bn
Short-term liabilities $564mLonger-term liabilities $405mShareholders' equity $241m
  • Short-term assets cover short-term liabilities $492m of assets due within a year against $564m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $492m short-term assets against $405m of longer-dated liabilities.
  • More cash than debt $230m of cash against $339m of debt.
  • Debt below 40% of shareholders' equity Debt is 140% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $174m of operating cash flow against $339m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Vertex, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$12.2M
R&D spending
11.6%
of revenue
Days sales outstanding
71 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated VERX SPSC APPN IDCC ASAN RAMP Median
Revenue, last 12 months $787m $780m $795m $817m $828m $832m $482m
Revenue growth, last 12 months 10.8% 6.9% 20.9% −12.0% 9.5% 8.9% 12.0%
Revenue growth, 3-year average 14.1% 14.9% 16.2% 13.4% 10.9% 11.0% 11.1%
Revenue growth, latest quarter 10.5% 4.1% 19.1% 17.5% 9.9% 9.8% 11.9%
Gross margin 64.0% 70.2% 71.1% — 87.6% 70.8% 69.2%
Operating margin −1.7% 13.8% 1.3% 45.1% −19.4% 11.6% 1.1%
Operating margin, 3-year average −0.8% 14.3% −5.5% 49.7% −29.3% 4.8% −0.8%
Net margin 0.5% 10.7% −1.3% 38.5% −18.6% 18.7% 2.1%
Cash from operations / revenue 22.0% 29.7% 10.2% 38.2% 15.7% 24.1% 18.2%
Free-cash-flow margin 8.4% 26.0% 9.6% 37.8% 15.0% 23.9% 15.0%
Free-cash-flow margin, 3-year average 12.1% 22.6% 1.1% 38.5% 6.2% 17.6% 16.2%
Stock pay / revenue 7.2% 8.1% 5.4% 7.4% 23.8% 9.4% 9.3%
Change in share count — −2.9% 0.8% 3.5% 1.4% −3.5% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 10.8% 12.0% 102 of 184
Change in growth rate Growth -1.0pp +0.2pp 122 of 184
Gross margin Profitability 64.0% 69.8% 97 of 160
Operating margin Profitability -1.7% 1.1% 103 of 181
Net margin Profitability 0.5% 2.1% 98 of 185
Free-cash-flow margin Cash generation 8.4% 15.2% 112 of 180
Stock pay as % of revenue Cash generation 7.2% 9.3% 65 of 177
Long-term debt as % of assets Balance sheet 28.0% 16.9% 69 of 98
Days sales outstanding Balance sheet 71 days 57 days 107 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Licenses and services $640M 85.5% ▲ 12.8%
Cloud Subscriptions $353M 55.2% ▲ 27.9%
Software Licenses $287M 44.8% ▼ 1.5%
Other services $109M 14.5% ▲ 9.2%

From Vertex, Inc.'s 10-K filed February 24, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$857M
Institutions reporting
224
Shares held vs prior quarter
▼ 7.1%
Positions opened / closed
41 / 38

Top buyers and sellers, Q2 2026: 125 institutions bought and 108 sold ; the biggest buyer was Brown Advisory Inc (+1.7M shares) and the biggest seller UBS Group AG (−3.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $71.6M 6.2M 8.4% ▲ 10.2%
Vanguard Portfolio Management LLC $57.2M 5.0M 6.7% ▲ 4.3%
Morgan Stanley $47.4M 4.1M 5.5% ▼ 3.7%
Brown Advisory Inc $40.7M 3.5M 4.8% ▲ 96.2%
Vanguard Capital Management LLC $36.4M 3.2M 4.3% ▲ 1.9%
Tensile Capital Management LP $33.3M 2.9M 3.9% ▼ 14.7%
Jpmorgan Chase & Co $28.8M 2.5M 3.4% ▼ 25.0%
D. E. Shaw & Co., Inc. $25.1M 2.2M 2.9% ▲ 33.6%
William Blair Investment Management, LLC $24.4M 2.1M 2.9% ▲ 66.4%
State Street Corp $23.6M 2.1M 2.8% ▲ 7.8%
UBS Group AG $23.2M 2.0M 2.7% ▼ 63.0%
Geode Capital Management, LLC $21.1M 1.8M 2.5% ▲ 3.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Vertex, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $6.5M 5 trades by 4 insiders, last 12 months Insider sales History → $82,365 1 trade by 1 insider · 0% under pre-set plans
Net ▲ $6.4M net buying
Insider Date Trade Shares Price Value
Destefano David Director May 28, 2026 Sell 6,460 $12.75 $82,365
Item Second Irr. Trust Fbo Kyle R. Westphal U/A Of Jeffrey R. Westphal Dated October 5, 2001 10% owner March 9, 2026 Buy 10,000 $15.05 $150,500
Young Christopher David President and CEO February 23, 2026 Buy 60,000 $12.18 $730,800
Andersen Eric C. Director February 20, 2026 Buy 40,000 $12.91 $516,400
Westphal Jeffrey 10% owner February 17, 2026 Buy 150,000 $12.53 $1.9M
Westphal Jeffrey 10% owner February 13, 2026 Buy 247,740 $13.08 $3.2M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 2, 2026 estimated from the company's past filing pattern, not announced

  • August 3, 2026
  • May 7, 2026
  • February 11, 2026
  • November 3, 2025
  • October 21, 2025
  • August 6, 2025

Recent SEC filings

Data status

When each part of this page on Vertex, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Vertex, Inc. in brief

What does Vertex, Inc. do?
Vertex, Inc. is a US-listed company in the application software industry. Its financial year ends in December.
What is Vertex, Inc.'s stock ticker?
Vertex, Inc. trades under the ticker VERX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Vertex, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Vertex, Inc. reported revenue of $787M, 10.8% higher than a year earlier, according to its SEC filings.
What is Vertex, Inc.'s free cash flow?
Vertex, Inc.'s free-cash-flow margin is 8.4% of revenue over the trailing twelve months, ranking 112 of the 180 application software companies we cover.
What is Vertex, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Vertex, Inc.'s free cash flow after stock-based pay gives ~$11 per share in the base case, and ~$8.3–$15 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Vertex, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Morgan Stanley. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
How much debt does Vertex, Inc. have?
Vertex, Inc.'s debt-to-equity ratio is 140.4%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Vertex, Inc.'s competitors?
In our Application Software peer group, the companies closest to Vertex, Inc. are SPS Commerce Inc, Appian Corp, Interdigital, Inc., Asana, Inc. and Liveramp Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Vertex, Inc.'s.
Are insiders buying or selling Vertex, Inc. stock?
Over the last 12 months, Vertex, Inc.'s directors and officers reported 5 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Vertex, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Vertex, Inc. announces its own schedule.