Vertex, Inc. (VERX) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Technology / Software · as of Jun 27, 2026
Vertex, Inc. (VERX)
A forensic read on Vertex, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Distress
Financial health
0.1
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-2.5%
ROE
$1.8B
Market cap
Vertex, Inc. earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is 0.1, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+25.5%Accruals ratio.Net operating assets grew +25.5% relative to their average in FY2025 — the accrual component of earnings. Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The cash-flow cross-check agrees: reported earnings ran behind operating cash by -63% of net operating assets.
1%Return on invested capital.Return on invested capital is 1% and rising from -3% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
8% of revStock-based comp load.Stock-based compensation ran 8% of revenue and 35% of free cash flow in FY2025. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.
Key fundamentals
Net Margin1.0%
Debt / Equity1.31x
Free Cash Flow$93.8M
Latest Revenue$748.4M
Return on Equity2.8%
Revenue Growth YoY+12.2%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Vertex, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about VERX's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown