SPS Commerce, Inc.

SPSC

$81.98

-2.65%

N/A-$2.24

Technology

Software - Application

NASDAQ

Active Trading

SPS Commerce, Inc. delivers comprehensive, cloud-based solutions for supply chain management across the globe. The company's central offering is its "SPS Commerce" ...

Financial Highlights of SPSC

Profitability trend

Latest / TTM · 6 periods

Gross Margin

69.8%

Net Margin

10.1%

P/E Ratio

39.41x

n/a

Debt / Equity

0.01

n/a

Current Ratio

2.26

Dividend Yield

0.0%

Understanding

TTM —

Interest coverage is weak

Financial highlights

Latest / TTM · 6 periods

Snapshot

Latest / TTM: 2026-09-04

Gross Margin

69.8%

Net Margin

10.1%

P/E Ratio

39.41x

Debt / Equity

0.01

Profitability

Profitability table

Metric	2021	2022	2023	2024	2025	2026
Gross MarginGross profit as a percentage of revenue.	65.8%	66.1%	66.1%	67.0%	69.2%	—
Operating MarginOperating income as a percentage of revenue.	14.3%	15.8%	14.4%	13.9%	15.7%	—
Net MarginNet income as a percentage of revenue.	11.6%	12.2%	12.3%	12.1%	12.4%	—
EBITDA MarginEBITDA divided by revenue.	20.4%	22.0%	22.4%	22.2%	23.5%	—
Pre-tax MarginPre-tax profit as a percentage of revenue.	13.9%	15.8%	15.9%	15.6%	16.5%	—

Liquidity & leverage

Liquidity & leverage table

Metric	2021	2022	2023	2024	2025	2026
Current RatioCurrent assets divided by current liabilities.	3.43	2.92	3.07	2.60	2.17	—
Quick RatioLiquid assets divided by current liabilities.	3.43	2.92	3.07	2.60	2.17	—
Cash RatioCash and equivalents divided by current liabilities.	2.02	1.47	1.68	1.64	0.98	—
Debt / AssetsDebt as a share of total assets.	3.3%	2.6%	1.7%	1.2%	0.6%	—
Debt / EquityDebt compared with shareholder equity.	0.04	0.03	0.02	0.01	0.01	—

Operating efficiency

Operating efficiency table

Metric	2021	2022	2023	2024	2025	2026
Receivables TurnoverHow often receivables are collected in a year.	11.15x	11.43x	11.46x	12.26x	11.02x	—
Inventory TurnoverHow often inventory is sold in a year.	0.00x	0.00x	0.00x	0.00x	0.00x	—
Payables TurnoverHow often payables are paid in a year.	15.81x	13.60x	24.54x	24.57x	16.84x	—
Asset TurnoverRevenue generated per dollar of assets.	0.63x	0.67x	0.65x	0.62x	0.64x	—
Working Capital TurnoverRevenue generated per dollar of working capital.	1.91x	1.95x	2.22x	2.52x	3.61x	—

Valuation ratios

Valuation ratios table

Metric	2021	2022	2023	2024	2025	2026
P/E RatioPrice paid for each dollar of earnings.	114.80x	83.94x	107.69x	88.88x	36.23x	—
P/B RatioPrice paid for each dollar of book value.	10.56x	8.64x	10.64x	8.03x	3.47x	—
P/S RatioPrice paid for each dollar of sales.	13.27x	10.29x	13.23x	10.76x	4.49x	—
P/FCF RatioPrice paid for each dollar of free cash flow.	54.81x	57.86x	63.12x	49.97x	22.17x	—
Dividend YieldAnnual dividend divided by current share price.	0.0%	0.0%	0.0%	0.0%	0.0%	—

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