Vertex (VERX) Cash Flow: Operating & Free Cash Flow

Vertex Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Vertex, Inc. (VERX) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Operating Activities
Net Income	7.21	-52.73	-13.09	-12.30	-1.48	-75.08	31.06	-6.11
Depreciation & Amortization	100.67	86.74	74.46	61.15	44.78	32.22	25.19	24.90
Deferred Income Tax	-5.40	51.07	-11.57	-1.35	-3.12	-33.50	-0.85	0.85
Stock Based Compensation	57.76	47.43	33.92	19.73	26.16	147.90	9.46	5.11
Change in Working Capital	13.67	16.17	-19.65	-11.21	18.93	8.77	26.10	22.45
Change in Accounts Receivable	-12.88	-22.08	-45.22	-25.67	2.96	-6.76	-10.12	-16.96
Change in Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.09
Change in Accounts Payable	1.23	11.62	9.24	1.37	3.85	-1.84	3.87	3.40
Change in Other Working Capital	25.33	26.64	16.33	13.08	-12.05	17.37	32.35	33.92
Other Operating Activities	-8.38	16.14	10.27	7.83	1.90	-20.76	1.54	33.25
Net Cash from Operating Activities	165.54	164.82	74.33	63.85	90.29	59.54	92.50	80.45
Investing Activities
Capital Expenditures	-117.95	-87.11	-68.23	-60.42	-31.71	-32.81	-37.56	-33.31
Acquisitions	0.00	-71.76	0.00	-0.47	-251.41	-11.57	0.00	0.00
Purchases of Investments	-17.40	-15.99	-16.33	-16.52	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	11.61	16.71	18.39	5.36	-11.66	0.00	0.00	0.00
Other Investing Activities	-21.72	-21.34	-18.97	-14.89	-11.66	-11.85	-17.22	-12.26
Net Cash from Investing Activities	-123.75	-158.15	-66.17	-72.05	-294.78	-44.38	-37.56	-33.31
Financing Activities
Debt Repayment	-0.08	294.13	-2.29	47.71	-0.96	-51.25	-5.57	-3.28
Common Stock Issued	11.94	11.46	0.00	0.00	3.92	423.02	0.00	0.00
Common Stock Repurchased	-10.09	0.00	0.00	0.00	-12.76	0.00	-0.84	-1.28
Dividends Paid	0.00	0.00	0.00	-0.54	-2.70	-146.12	-28.57	-28.02
Other Financing Activities	-34.55	-74.33	-24.19	-30.08	0.70	-12.03	4.34	1.89
Net Cash from Financing Activities	-32.78	231.26	-26.48	17.09	-9.10	213.63	-30.63	-30.70
Summary
Effect of Forex Changes on Cash	3.21	-1.01	0.72	-0.35	-0.48	-0.02	0.01	-0.40
Net Change in Cash	12.23	236.92	-17.60	8.54	-214.07	228.78	24.32	16.04
Cash at Beginning of Period	326.07	89.15	106.75	98.21	312.27	83.50	59.17	43.14
Cash at End of Period	338.30	326.07	89.15	106.75	98.21	312.27	83.50	59.17
Free Cash Flow	47.59	77.71	6.10	3.43	58.58	26.74	54.94	47.14
Supplemental Disclosures
Interest Paid	-	3.29	3.73	2.22	0.22	-	-	-
Income Taxes Paid	-	8.59	5.65	3.06	1.29	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Vertex Cash Flow

What is Vertex's free cash flow?

Vertex generated free cash flow of $47.59M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $165.54M minus $117.95M of capital expenditures. That was down 38.8% from $77.71M a year earlier. Free cash flow equaled 6.4% of revenue.

How much does Vertex spend on capital expenditures?

Vertex spent $117.95M on capital expenditures in fiscal 2025, compared with $87.11M a year earlier. That equals 71.3% of operating cash flow.

Does Vertex pay dividends or buy back shares?

Yes. In fiscal 2025 Vertex returned $10.09M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition