Vtex (VTEX) Operating Margin (2020 - 2026)
Vtex (VTEX) reported Operating Margin of 15.00% for Q2 2026, up 10.05 percentage points from 4.95% a year earlier and up 5.45 percentage points from the prior quarter.
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Analysis
Vtex (VTEX) Operating Margin (2020 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Vtex's Operating Margin came in at 9.17%, up 5.73 percentage points year-over-year; for FY2025, it was 7.53%, up 4.27 percentage points from FY2024.
- Operating Margin has increased for four consecutive years, with a five-year change of +0.92 percentage points (FY2020 to FY2025).
- By year, Operating Margin came in at 3.26% in FY2024 (+10.25 pp), -6.99% in FY2023 (+24.68 pp), -31.67% in FY2022 (+20.75 pp) and -52.42% in FY2021 (-59.03 pp).
- Five-year quarterly Operating Margin spans a low of -177.63% in Q4 2021 and a high of 16.47% in Q4 2025.
- Year over year, Operating Margin has now increased in each of the last 17 quarters, with an average year-over-year change of +5.67 percentage points over the last eight quarters.
- The high point for year-over-year Operating Margin in five years was Q4 2022 (a gain of 171.04 percentage points); the low point was Q4 2021 (a drop of 170.41 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 9.56% (Q1 2026), 16.47% (Q4 2025) and 3.99% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,248.48 Bn | 4,006.00 Bn | 73.85 Bn | 34.03% |
| 2 | Meta Platforms | 1,873.50 Bn | 1,576.02 Bn | 49.47 Bn | 30.88% |
| 3 | Netflix | 304.25 Bn | 264.45 Bn | 6.52 Bn | 33.38% |
| 4 | Alibaba Group Holding | 257.83 Bn | 71.60 Bn | 15.11 Bn | 5.64% |
| 5 | Shopify | 230.63 Bn | 207.82 Bn | 1.71 Bn | 13.62% |
| 6 | Uber Technologies | 145.10 Bn | 116.90 Bn | 6.38 Bn | 13.32% |
| 7 | Booking Holdings | 127.39 Bn | 60.44 Bn | - | 34.00% |
| 8 | PDD Holdings | 115.26 Bn | -128.52 Bn | 9.45 Bn | 24.71% |
| 9 | Spotify Technology | 109.42 Bn | 66.92 Bn | 1.86 Bn | 13.71% |
| 10 | Vtex | 760.70 Mn | -13.61 Mn | 51.71 Mn | 15.00% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 15.00% |
| Mar 31, 2026 | 9.56% |
| Dec 31, 2025 | 16.47% |
| Sep 30, 2025 | 7.05% |
| Jun 30, 2025 | 4.95% |
| Mar 31, 2025 | -0.37% |
| Dec 31, 2024 | 10.89% |
| Sep 30, 2024 | 4.11% |
| Jun 30, 2024 | 1.42% |
| Mar 31, 2024 | -4.75% |
| Dec 31, 2023 | 10.10% |
| Sep 30, 2023 | -7.11% |
| Jun 30, 2023 | -15.34% |
| Mar 31, 2023 | -385.08% |
| Dec 31, 2022 | -6.65% |
| Sep 30, 2022 | -503.97% |
| Jun 30, 2022 | -48.89% |
| Mar 31, 2022 | -798.95% |
| Dec 31, 2021 | -35.41% |
| Sep 30, 2021 | -76.48% |
API Access
Vtex Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=VTEX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "VTEX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=VTEX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();