SPS Commerce
SPSC
81.00
-0.02
-0.02%
SPS Commerce
US · SPSC
#2510 by market cap
Listed 1970
81.00
-0.02
-0.02%
Live - 5344 symbols - heartbeat 342s ago
· 2026-10-08 07:40
Pre-market
80.80
-0.25%
After-hours
81.12
+0.15%
- Market cap
- 2.92B
- P/E (TTM)i
- 38.94
- P/Bi
- 3.11
- EPSi
- 2.46
- Div yieldi
- 0.00%
- 52W posi
- 49%
Reader sentiment
Are you bullish or bearish on SPSC?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Good
- Altman Z-Score is 10.60, above the 3.0 "safe zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +17.83% YoY
Margins
- Gross margin
- 69.18%
- Operating margin
- 15.74%
- Net margin
- 12.42%
Key ratios & quality
- PEG ratioi
- 2.03
- Altman Z-Scorei
- 10.60
PEG uses trailing P/E against the 3-year net income growth rate (19.18%/yr) since forward earnings estimates aren't available here, so this is not a "forward PEG." Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 248.24M | 279.12M | 312.63M | 385.28M | 450.88M | 536.91M | 637.77M | 751.51M |
| Gross profit | 166.49M | 186.89M | 212.79M | 253.60M | 297.81M | 354.84M | 427.05M | 519.88M |
| Selling & admin expenses | 113.58M | 114.86M | 126.07M | 149.35M | 169.11M | 207.82M | 251.85M | 295.72M |
| Research & development | 22.09M | 28.31M | 31.02M | 39.04M | 45.75M | 53.65M | 62.81M | 68.68M |
| Operating profit | 26.73M | 38.41M | 50.16M | 55.09M | 71.18M | 77.25M | 88.88M | 118.30M |
| Pretax profit | 28.34M | 42.07M | 52.68M | 53.54M | 71.32M | 85.56M | 99.48M | 123.84M |
| Tax | 4.47M | 8.36M | 7.09M | 8.94M | 16.19M | 19.74M | 22.42M | 30.50M |
| Net profit | 23.87M | 33.71M | 45.59M | 44.60M | 55.13M | 65.82M | 77.05M | 93.34M |
| Basic EPS | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 |
| Diluted EPS | 0.68 | 0.94 | 1.26 | 1.21 | 1.49 | 1.76 | 2.04 | 2.46 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 181.55M | 187.40M | 189.90M | 192.65M | 192.12M | 197.82M |
| Gross profit | 124.64M | 127.57M | 131.97M | 135.70M | 132.90M | 138.79M |
| Selling & admin expenses | 72.65M | 74.32M | 74.01M | 74.74M | 81.11M | 80.58M |
| Research & development | 17.44M | 17.27M | 17.28M | 16.69M | 17.92M | 16.96M |
| Operating profit | 25.96M | 26.47M | 31.19M | 34.69M | 24.56M | 31.87M |
| Pretax profit | 28.16M | 27.24M | 32.45M | 35.98M | 25.96M | 10.41M |
| Tax | 5.97M | 7.51M | 6.88M | 10.14M | 6.24M | 3.55M |
| Net profit | 22.20M | 19.73M | 25.57M | 25.84M | 19.73M | 6.86M |
| Basic EPS | 1 | 1 | 1 | 1 | 1 | 0 |
| Diluted EPS | 0.58 | 0.52 | 0.67 | 0.68 | 0.53 | 0.19 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 249.62M | 291.62M | 271.36M | 352.44M | 322.81M | 401.44M | 381.91M | 335.30M |
| Cash & ST investments | 178.40M | 213.54M | 187.48M | 257.31M | 214.31M | 275.44M | 241.02M | 151.36M |
| Inventory | -- | -- | -- | -- | -- | -- | -- | -- |
| Total assets | 386.12M | 447.44M | 526.46M | 615.85M | 672.91M | 823.84M | 1.03B | 1.17B |
| Total current liabilities | 56.52M | 68.03M | 80.13M | 102.87M | 110.64M | 130.67M | 146.68M | 154.35M |
| Short-term debt | -- | 3.78M | 2.80M | 4.11M | 4.28M | 4.46M | 4.58M | 4.35M |
| Long-term debt | -- | -- | -- | -- | -- | -- | -- | -- |
| Total liabilities | 67,149,000.00 | 92,564,000.00 | 105,737,000.00 | 131,587,000.00 | 135,841,000.00 | 156,369,000.00 | 176,540,000.00 | 195,966,000.00 |
| Total equity | 318.97M | 354.88M | 420.72M | 484.26M | 537.07M | 667.48M | 854.69M | 973.89M |
| Retained earnings | 15.26M | 48.97M | 93.49M | 138.09M | 193.22M | 259.05M | 336.10M | 429.44M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 251.84M | 269.38M | 315.62M | 335.30M | 328.74M | 330.40M |
| Cash & ST investments | 94.92M | 107.60M | 133.73M | 151.36M | 154.27M | 173.17M |
| Inventory | -- | -- | -- | -- | -- | -- |
| Total assets | 1.11B | 1.12B | 1.16B | 1.17B | 1.16B | 1.13B |
| Total current liabilities | 153.42M | 147.97M | 160.05M | 154.35M | 154.95M | 146.26M |
| Short-term debt | 6.16M | 5.75M | 5.62M | 4.35M | 1.92M | 1.54M |
| Long-term debt | -- | -- | -- | -- | -- | -- |
| Total liabilities | 188,129,000.00 | 171,324,000.00 | 199,740,000.00 | 195,966,000.00 | 199,048,000.00 | 186,947,000.00 |
| Total equity | 920.92M | 949.78M | 958.94M | 973.89M | 962.16M | 938.48M |
| Retained earnings | 358.30M | 378.03M | 403.60M | 429.44M | 449.17M | 456.03M |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 55.02M | 71.79M | 88.56M | 112.89M | 100.05M | 132.30M | 157.40M | 178.79M |
| Depreciation & amortization | 12.69M | 16.44M | 18.67M | 24.91M | 28.19M | 34.75M | 42.23M | 58.26M |
| Free cash flow | 41.27M | 58.21M | 72.10M | 93.31M | 80.17M | 112.54M | 137.35M | 152.27M |
| Dividends paid | -- | -- | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -19.86M | -20.62M | -18.95M | -20.43M | -43.22M | 0 | -37.57M | -114.28M |
| Ending cash balance | 133.86M | 179.25M | 149.69M | 207.55M | 162.89M | 219.08M | 241.02M | 151.36M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 39.98M | 32.32M | 60.61M | 45.87M | 55.63M | 66.03M |
| Depreciation & amortization | 13.55M | 14.50M | 14.85M | 15.37M | 15.15M | 15.53M |
| Free cash flow | 33.83M | 25.66M | 54.56M | 38.22M | 48.49M | 57.43M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -40.00M | -19.56M | -30.00M | -24.72M | -47.12M | -51.23M |
| Ending cash balance | 94.92M | 107.60M | 133.73M | 151.36M | 154.27M | 173.17M |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 8.01 | 10.01 | 11.76 | 9.86 | 10.80 | 10.93 | 10.12 | 10.21 |
| ROA %i | 6.62 | 8.09 | 9.36 | 7.81 | 8.56 | 8.80 | 8.31 | 8.48 |
| ROIC %i | 7.36 | 8.69 | 10.86 | 9.41 | 10.41 | 10.65 | 9.95 | 10.10 |
| 5-year avg ROE %i | 2.73 | 4.46 | 6.37 | 7.92 | 10.06 | 10.67 | 10.69 | 10.38 |
| EBIT margin %i | 10.77 | 13.76 | 16.04 | 14.30 | 15.79 | 14.39 | 13.94 | 15.74 |
| FCF / sales %i | 16.62 | 20.85 | 23.06 | 24.22 | 17.78 | 20.96 | 21.54 | 20.26 |
| Current ratioi | 4.42 | 4.29 | 3.39 | 3.43 | 2.92 | 3.07 | 2.60 | 2.17 |
| Quick ratioi | 3.64 | 3.60 | 2.76 | 2.84 | 2.29 | 2.47 | 2.00 | 1.42 |
| Debt / assetsi | 0.00 | 5.33 | 4.27 | 3.33 | 2.57 | 1.70 | 1.21 | 0.61 |
| LT debt / equityi | -- | 5.66 | 4.68 | 3.39 | 2.42 | 1.43 | 0.92 | 0.29 |
| Interest coveragei | -- | -- | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | 16.13 | 13.06 | 12.41 | 15.78 | 17.33 | 19.75 | 18.29 | 18.57 |
| Net income CAGR (3Y) %i | 72.65 | 89.39 | 406.42 | 23.16 | 17.82 | 13.03 | 20.00 | 19.18 |
| FCF CAGR (3Y) %i | 93.77 | 75.56 | 44.73 | 31.25 | 11.26 | 16.00 | 13.76 | 23.84 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 10.13 | 10.03 | 9.51 | 10.21 | 9.65 | 8.26 |
| ROA %i | 8.34 | 8.40 | 7.87 | 8.48 | 8.01 | 6.94 |
| ROIC %i | 9.97 | 9.90 | 9.39 | 10.10 | 9.56 | 8.19 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 14.85 | 14.60 | 14.85 | 15.74 | 15.34 | 15.83 |
| FCF / sales %i | 21.00 | 20.17 | 20.33 | 20.26 | 21.90 | 25.72 |
| Current ratioi | 1.64 | 1.82 | 1.97 | 2.17 | 2.12 | 2.26 |
| Quick ratioi | 1.03 | 1.18 | 1.26 | 1.42 | 1.42 | 1.62 |
| Debt / assetsi | 1.11 | 0.96 | 0.83 | 0.61 | 0.57 | 0.56 |
| LT debt / equityi | 0.66 | 0.53 | 0.42 | 0.29 | 0.49 | 0.51 |
| Interest coveragei | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Single-engine
- Fulfillment is the largest reported line at 85.93% of revenue, across 4 reported segments.
- The next-largest line, Analytics, is a distant second at 7.15% - a sharp slowdown here would have little to offset it.
Revenue breakdown most recent period
Business
Fulfillment85.93%
Analytics7.15%
One-time revenues3.74%
Other3.19%
Quote time 2026-10-08 07:40:03 · For reference only, not investment advice and not tailored to your situation.