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SPS Commerce, Inc. SPSC R2K

Technology · Software - Application · United States
https://www.spscommerce.com

SPS Commerce, Inc. provides cloud-based supply chain management solutions in the United States. It offers solutions through SPS Commerce, a cloud-based platform that connects retailers, brands, distributors, manufacturers, and logistics providers, handling the complexity of modern commerce operations. The company also provides Fulfillment, a comprehensive solution designed to streamline supply chain operation that sends and receives order data, ensuring accurate execution of required processes from order to invoicing and revenue recovery through fully automated operations; and Analytics product that simplifies managing sell-through data from customers business partners that handle data acquisition, cleansing, normalization, and delivery. In addition, it offers various complimentary products, such as assortment product, which simplifies the communication of robust, accurate item data by automatically translating item attributes, and hierarchies through single connection across all sales channels; and relationship management product that allows organizations to accelerate digitization of their supply chain and improve collaboration with suppliers through change management, onboarding programs, and supplier score carding. The company was formerly known as St. Paul Software, Inc. and changed its name to SPS Commerce, Inc. in May 2001. SPS Commerce, Inc. was incorporated in 1987 and is headquartered in Minneapolis, Minnesota.

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$56.75
-59.68% 1Y

Market & Price

Market Cap
$2.08B
Current Price
$56.75
High / Low (52W)
$145.01 / $49.91
Beta
0.58

Valuation

Stock P/E
23.55
Industry PE
32.74
Forward P/E
10.86
PEG Ratio
4.55
Book Value
$26.04
Price to Book
2.18
P/S
2.73
EV/EBITDA
10.95
Dividend Yield
-

Profitability & Returns

ROCE
11.65%
ROE
9.65%
ROA
6.44%
Profit Margin
11.92%
Op Margin
12.78%
EPS (Latest Qtr)
$0.53
EPS (TTM)
$2.41

Balance Sheet & Liquidity

Debt/Equity
0.69
Quick Ratio
1.42
Current Ratio
2.12
Debt
$6.62M
Total Assets
$1.17B
Current Assets
$335.30M
Working Capital
$180.95M

Ownership

Promoter Holding
0.94%
Chg in Prom Hold
-
FII / Inst Holding
110.74%
Chg in FII Hold
0.01%

Financial Snapshot

Enterprise Value
$1.94B
Total Revenue (TTM)
$762.08M
EBITDA
$176.77M
Free Cash Flow
$151.57M
Operating Cash Flow
$194.44M
Shares Outstanding
36.71M
Gross Margin
69.30%
Payout Ratio
0.00%

Growth (CAGR)

Revenue 5Y
18.57%
Profit 5Y
19.18%
Revenue (YoY)
5.80%
Earnings (YoY)
-9.00%

PROS

  • Compounding revenue at 18.6% over 5 years.
  • Profit CAGR of 19.2% over 5 years.
  • Generates positive free cash flow.

CONS

  • Trading 60.9% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 SPSC SPS Commerce, Inc. R2K 56.75 23.55 $2.08B - 11.65% 9.65% 18.57% 19.18%
2 NVDA NVIDIA Corporation NDXSPXAI 211.14 32.38 $5.11T 0.47% 81.14% 114.29% 100.05% 201.80%
3 AAPL Apple Inc. NDXSPX 312.06 37.73 $4.58T 0.35% 68.72% 141.47% 1.81% 3.92%
4 MSFT Microsoft Corporation NDXSPXAI 450.24 26.82 $3.34T 0.81% 26.37% 34.01% 12.42% 11.87%
5 TSM Taiwan Semiconductor Manufacturing Company Limited AI 418.45 35.86 $2.17T 0.91% 32.04% 36.21% 18.94% 19.57%
6 MU Micron Technology, Inc. NDXSPXAI 971.00 45.87 $1.10T 0.06% 14.20% 39.82% 6.71% -0.57%
7 AMD Advanced Micro Devices, Inc. NDXSPXAI 516.10 172.61 $841.55B - 6.33% 8.06% 13.64% 48.64%
8 ORCL Oracle Corporation SPXAI 225.78 40.46 $649.35B 0.89% 13.07% 57.57% 10.59% 22.81%
9 ASML ASML Holding N.V. NDXAI 1,612.76 53.76 $621.59B 0.54% 43.81% 52.24% 15.55% 19.55%
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Quarterly Results

Figures in USD.

Metric Mar 2015Jun 2015Sep 2015Dec 2015Mar 2016Jun 2016Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Mar 2021Jun 2021Sep 2021Mar 2022Jun 2022Sep 2022Mar 2023Jun 2023Sep 2023Mar 2024Jun 2024Sep 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue --------51.88M54.09M56.06M58.06M59.09M61.09M62.87M65.19M66.93M68.53M70.93M72.73M74.19M75.57M79.56M90.09M94.54M97.89M105.19M109.18M114.49M125.87M130.42M135.66M149.58M153.60M163.69M181.55M187.40M189.90M192.65M192.12M
Cost of Revenue -----------------------------------56.91M59.83M57.93M56.96M59.22M
Gross Profit 25.40M26.51M27.65M28.91M30.72M31.38M33.11M33.74M34.55M35.90M37.41M38.60M39.33M40.69M42.46M44.01M45.57M44.83M47.66M48.82M50.65M51.25M54.51M60.12M62.81M63.54M69.80M71.65M75.88M82.90M85.87M90.14M98.09M101.58M112.06M124.64M127.57M131.97M135.69M132.90M
Operating Expenses -----------------------------------98.68M101.10M100.78M101.01M108.34M
Operating Income 922.00K1.03M2.26M2.81M1.31M880.00K2.67M2.65M3.38M2.96M3.35M292.00K4.30M5.96M8.26M8.21M7.38M9.33M10.93M10.76M11.54M11.11M13.95M12.66M13.53M13.52M16.51M15.97M19.69M16.73M17.03M20.60M15.40M23.16M25.57M25.96M26.47M31.19M34.69M24.56M
EBITDA -----------------------------------39.50M40.97M46.04M50.05M39.71M
Interest Expense ----------------------------------------
Pretax Income -----------------------------------28.16M27.24M32.45M35.98M25.96M
Tax Provision -----------------------------------5.97M7.51M6.88M10.14M6.24M
Net Income 586.00K651.00K1.27M2.13M1.04M352.00K2.51M1.80M2.98M1.97M2.18M-6.78M3.25M5.42M8.06M7.14M6.81M8.80M8.94M9.16M9.52M11.19M11.41M10.20M10.18M11.45M12.60M10.75M15.86M15.29M14.68M16.84M18.00M18.03M23.46M22.20M19.73M25.57M25.84M19.73M
Diluted EPS 0.030.040.070.120.060.020.140.100.170.110.13-0.390.090.150.230.210.190.240.250.250.260.310.310.280.280.310.340.290.430.410.390.450.480.480.620.580.520.670.680.53
R&D Expense 4.07M4.50M4.49M-5.07M5.54M5.57M-5.11M5.37M6.55M-5.13M5.29M5.15M-6.19M6.51M7.74M-7.57M7.47M8.05M8.71M8.90M10.85M10.70M11.43M11.13M12.56M13.32M13.56M16.01M14.37M15.29M17.44M17.27M17.28M-17.92M

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue -------193.15M220.09M248.24M279.12M312.63M-450.88M536.91M637.76M751.50M
Cost of Revenue -------------153.06M182.07M210.71M231.63M
Gross Profit 26.03M31.97M42.60M55.07M72.61M87.96M108.47M128.81M146.46M166.49M186.88M212.79M-297.81M354.84M427.05M519.88M
Operating Expenses -------------226.63M277.59M338.17M401.57M
Operating Income 1.88M3.04M1.14M1.57M1.77M4.38M7.02M6.38M9.98M26.73M38.41M50.16M-71.18M77.25M88.88M118.30M
EBITDA -------------99.37M112.00M131.11M176.56M
Interest Expense -----------------
Pretax Income -------------71.32M85.56M99.48M123.83M
Tax Provision -------------16.19M19.74M22.42M30.50M
Net Income 1.16M2.88M13.70M1.22M1.05M2.70M4.64M4.96M351.00K23.87M33.71M45.59M-55.13M65.82M77.05M93.34M
Diluted EPS 0.130.251.080.090.070.160.270.290.010.680.941.26-1.491.762.042.46
R&D Expense 4.30M4.35M5.84M8.17M10.87M13.49M17.95M21.98M23.18M22.09M28.30M31.02M39.04M45.75M53.65M62.81M68.68M

Compounded Sales Growth

5 Years:18.57%
1 Year:5.80%

Compounded Profit Growth

5 Years:19.18%
1 Year:-9.00%

Stock Price Performance

1 Year:-59.68%
6 Months:-31.70%
3 Months:+0.42%
1 Month:+2.85%

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets --57.88M77.62M159.20M223.33M243.78M261.73M298.37M339.74M386.12M447.44M526.46M-672.91M823.84M1.03B1.17B
Current Assets --------------322.81M401.44M381.91M335.30M
Cash & Equivalents 3.71M5.93M40.47M31.98M66.05M131.29M130.79M121.54M115.88M123.13M133.86M179.25M149.69M-162.89M219.08M241.02M151.35M
Inventory ------------------
Receivables --------------39.44M46.84M52.03M68.17M
Total Liabilities --14.37M18.07M24.38M30.56M38.68M39.55M49.10M51.63M67.15M92.56M105.74M-135.84M156.37M176.54M195.97M
Current Liabilities --9.09M11.47M14.47M18.91M24.56M24.23M32.16M43.95M56.52M68.03M80.13M-110.64M130.67M146.68M154.35M
Long Term Debt ------------------
Total Debt -------------20.53M17.29M14.03M12.47M-
Total Equity -61.84M-60.47M43.51M59.55M134.82M192.77M205.09M231.43M257.77M288.11M318.97M354.88M420.72M-537.07M667.48M854.69M973.89M
Shares Outstanding --------------38.31M38.97M39.59M40.05M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow 5.16M4.92M4.49M6.83M18.24M--18.77M31.05M55.02M71.79M88.56M-100.05M132.30M157.40M178.79M
Investing Cash Flow -1.00M-1.77M-13.43M-32.24M-5.70M---34.16M-22.62M-40.47M-14.31M-120.47M--112.79M-92.64M-110.45M-169.15M
Financing Cash Flow -1.94M31.39M452.00K59.48M52.70M--10.11M-2.47M-3.77M-12.14M2.33M--31.63M15.97M-23.03M-100.83M
Capital Expenditure -1.00M-1.77M-2.58M-5.98M-5.70M-7.58M-8.76M-8.01M-7.27M-13.75M-13.59M-16.47M--19.88M-19.76M-20.05M-26.52M
Free Cash Flow 4.16M3.15M1.90M846.00K12.54M--10.76M23.78M41.27M58.21M72.09M-80.17M112.54M137.35M152.27M
Net Change in Cash --------------44.37M55.63M23.92M-91.19M
Share Buybacks --------5.82M19.86M20.62M18.95M20.43M43.22M037.57M114.28M

Ratios (Annual)

Figures in %.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % -------66.7%66.5%67.1%67.0%68.1%-66.1%66.1%67.0%69.2%
Operating Margin % -------3.3%4.5%10.8%13.8%16.0%-15.8%14.4%13.9%15.7%
Net Margin % -------2.6%0.2%9.6%12.1%14.6%-12.2%12.3%12.1%12.4%
ROE % -1.9%6.6%23.0%0.9%0.5%1.3%2.0%1.9%0.1%7.5%9.5%10.8%-10.3%9.9%9.0%9.6%
ROCE % -6.2%1.7%1.1%0.9%2.0%3.0%2.4%3.4%8.1%10.1%11.2%-12.7%11.1%10.0%11.6%

Shareholding Pattern

Insiders
0.94%
Institutions
110.74%
Public Float
111.78%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 15.88% 5.83M $330.78M
2 Vanguard Portfolio Management LLC 8.06% 2.96M $167.91M
3 Neuberger Berman Group, LLC 4.88% 1.79M $101.60M
4 Vanguard Capital Management LLC 4.63% 1.70M $96.37M
5 State Street Corporation 4.09% 1.50M $85.11M
6 Goldman Sachs Group Inc 2.91% 1.07M $60.68M
7 Geode Capital Management, LLC 2.72% 997.96K $56.63M
8 Bank of America Corporation 2.72% 998.62K $56.67M
9 Morgan Stanley 2.62% 960.88K $54.53M
10 Citadel Advisors Llc 2.49% 913.24K $51.83M

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