Vertex, Inc. — Earnings Quality Grade C
VERX · Technology
Some red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 89 days, change -1 days YoY
AR growth 11.6% vs revenue growth 12.2%
Revenue grew 12.2% but CFFO only 0.4%
Expense Quality
No material inventory
CapEx growth 35.4% is >2x revenue growth 12.2%
SG&A/Gross Profit = 77.9%, exceeds 70%
Gross margin 64.3%, change +0.4pp. Stable
Cash Flow Quality
CFFO far exceeds NI (ratio 23.0x). Non-cash charges depressing profits
FCF $0.0B, FCF/NI = 6.60
Accruals ratio = -12.5%. Low accruals
Cash $0.3B covers 90% of debt $0.4B
Balance Sheet Health
Goodwill+Intangibles $0.4B = 167% of equity. Over 50%
Debt/EBITDA = 4.1x (>4x). Financial stress
Other assets -13.0% vs revenue 12.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 8% YoY. Normal
Manipulation Score
M-Score = -2.95 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25