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Vertex Balance Sheet 2025-2011 | VERX
Brief overview of Vertex's balance sheet strength
This overview follows the five latest available annual observations between 2021 and 2025.
Assets reached $1.3 billion, compared with $670.2 million at the beginning. Growth of +89.6% and CAGR near 17.3% show active expansion.
Asset growth of +89.6% came with a +129.9% rise in liabilities. Financial leverage became more prominent.
Internal capital represents 20.4% of the balance sheet versus 34.3% five periods ago. The cushion is thin.
Net debt to equity stands at 0.11x; the current burden does not look excessive.
Cash represents 24.7% of assets versus 10.9% initially, showing how the immediate liquidity reserve changed.
The accumulated result is -$46.1 million and remains below zero. The number alone does not explain whether losses, dividends or repurchases were the main cause.
Conclusion
Vertex has limited balance sheet resilience and depends heavily on cash generation and refinancing capacity.
Annual Balance Sheet Vertex
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
27.8 M | 43.2 M | -20.4 M | -41 M | -69.3 M | -302 M | -24.4 M | -955 K | - | - | - | - | - | - | - |
Long Term Debt |
337 M | 335 M | 44.1 M | 46.7 M | 68 K | 225 K | 682 K | 50 M | - | - | - | - | - | - | - |
Long Term Debt Current |
4.28 M | 4 M | 3.72 M | 4.09 M | 3.93 M | 882 K | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 42.5 M | 88 M | - | - | - | - | - | - | - |
Total Current Liabilities |
575 M | 537 M | 441 M | 403 M | 369 M | 292 M | - | - | - | - | - | - | - | - | - |
Total Liabilities |
1.01 B | 987 M | 507 M | 489 M | 440 M | 329 M | 377 M | 327 M | - | - | - | - | - | - | - |
Deferred Revenue |
383 M | 339 M | 290 M | 269 M | 237 M | 208 M | 192 M | 164 M | - | - | - | - | - | - | - |
Retained Earnings |
-46.1 M | -53.3 M | -586 K | 12.5 M | 24.8 M | 21.9 M | -90.7 M | -88 M | - | - | - | - | - | - | - |
Total Assets |
1.27 B | 1.17 B | 760 M | 719 M | 670 M | 555 M | 265 M | 215 M | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
314 M | 296 M | 68.2 M | 91.8 M | 73.3 M | 303 M | 75.9 M | 59.2 M | - | - | - | - | - | - | - |
Book Value |
259 M | 179 M | 253 M | 230 M | 230 M | 225 M | -112 M | -112 M | - | - | - | - | - | - | - |
Total Shareholders Equity |
259 M | 179 M | 253 M | 230 M | 230 M | 229 M | -130 M | -126 M | - | - | - | - | - | - | - |
All numbers in USD currency
Quarterly Balance Sheet Vertex
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
338 M | 337 M | 336 M | 336 M | 335 M | 334 M | 43.5 M | 44.9 M | 45.5 M | 46.1 M | 46.7 M | 47.3 M | 47.9 M | 48.6 M | 68 K | 334 K | 334 K | 334 K | 225 K | 329 K | 225 K | 225 K | 682 K | 682 K | 682 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
968 M | 957 M | 950 M | 954 M | 932 M | 791 M | 506 M | 500 M | 499 M | 502 M | 489 M | 463 M | 469 M | 465 M | 440 M | 422 M | 382 M | 332 M | 329 M | 329 M | 329 M | 329 M | 377 M | 377 M | 377 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
393 M | 334 M | 342 M | 350 M | 301 M | 297 M | 297 M | 265 M | 274 M | 276 M | 269 M | 243 M | 244 M | 235 M | 237 M | 211 M | 211 M | 205 M | 208 M | 208 M | 208 M | 208 M | 192 M | 192 M | 192 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-48.6 M | -39.1 M | -43.1 M | -42.2 M | 14.5 M | 7.26 M | 2.1 M | -15.9 M | -12.5 M | -5.62 M | 12.5 M | 17.8 M | 19 M | 24.5 M | 24.8 M | 25.4 M | 29.4 M | 28.6 M | 25.8 M | 21.9 M | 21.9 M | 21.9 M | -90.7 M | -90.7 M | -90.7 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
1.21 B | 1.22 B | 1.2 B | 1.15 B | 1.19 B | 1.02 B | 756 M | 720 M | 725 M | 726 M | 719 M | 677 M | 690 M | 698 M | 670 M | 650 M | 613 M | 562 M | 559 M | 555 M | 555 M | 555 M | 265 M | 265 M | 265 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
252 M | 314 M | 284 M | 270 M | 279 M | 326 M | 56.1 M | 49.5 M | 41.9 M | 68.6 M | 91.8 M | 72.4 M | 85.6 M | 97.3 M | 73.3 M | 47.5 M | 102 M | 278 M | 312 M | 303 M | 303 M | 303 M | 75.9 M | 75.9 M | 75.9 M | - | 55.8 M | - | - | - | 43.1 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
247 M | 264 M | 248 M | 200 M | 259 M | 233 M | 250 M | 220 M | 226 M | 223 M | 230 M | 214 M | 221 M | 233 M | 230 M | 228 M | 232 M | 230 M | 229 M | 225 M | 225 M | 225 M | -112 M | -112 M | -112 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
247 M | 264 M | 248 M | 200 M | 259 M | 233 M | 250 M | 220 M | 226 M | 223 M | 230 M | 214 M | 221 M | 233 M | 230 M | 228 M | 232 M | 230 M | 229 M | 225 M | 225 M | 225 M | -130 M | -130 M | -130 M | -125 M | -126 M | - | - | - | -78.6 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Vertex, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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