SPS Commerce, Inc.
SPSC
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Bull / bear case
Site-generated summary from fundamentals, news, and score — not investment advice. As of 2026-10-08.
- SPS Commerce operates in the growing software application industry, which is increasingly vital for supply chain management and e-commerce solutions.
- Revenue increased by 3% compared to the prior quarter, reaching $198 million.
- Gross margin improved to 70.2%, up from 69.2% in the previous quarter.
- The company's earnings growth has declined significantly, with a decrease of 63.9% year-over-year.
- The trailing P/E ratio stands at 39.14, indicating that the stock may be overvalued compared to its earnings growth.
- Net income dropped to $6.864 million in the latest quarter, down from $19.729 million in the previous quarter.
Fundamentals
| Market cap | $3.00B | Enterprise value | $2.83B | Trailing P/E | 40.25 | Forward P/E | 15.65 |
| PEG | 4.55 | Price / book | 3.21 | Beta | 0.62 | Dividend yield | 0.00% |
| Revenue growth | 5.6% | Earnings growth | -63.9% | Gross margin | 69.8% | Operating margin | 16.1% |
| Profit margin | 10.1% | ROE | 8.3% | ROA | 6.8% | Debt / equity | 0.01 |
| Current ratio | 2.26 | Free cash flow | $176.57M | Analyst recommendation | none | Mean target | $75.45 |
| 52w high | $114.87 | 52w low | $49.04 |
Quarterly
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | |
|---|---|---|---|---|---|
| Revenue | $198M | $192M | $193M | $190M | $187M |
| Op margin | 16.1% | 12.8% | 18.0% | 16.4% | 14.1% |
| Net income | $6.9M | $19.7M | $25.8M | $25.6M | $19.7M |
| Gross margin | 70.2% | 69.2% | 70.4% | 69.5% | 68.1% |
| Gross profit | $139M | $133M | $136M | $132M | $128M |
| Operating income | $31.9M | $24.6M | $34.7M | $31.2M | $26.5M |
- Revenue +3% vs prior quarter ($198M vs $192M).
- Gross margin 70.2% (was 69.2% prior quarter).
- Operating margin expanded to 16.1%.
Yearly (6y)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $752M | $638M | $537M | $451M | — |
| Op margin | 15.7% | 13.9% | 14.4% | 15.8% | — |
| Net income | $93.3M | $77.1M | $65.8M | $55.1M | — |
| Gross margin | 69.2% | 67.0% | 66.1% | 66.1% | — |
| Gross profit | $520M | $427M | $355M | $298M | — |
| Operating income | $118M | $88.9M | $77.2M | $71.2M | — |
No flags
• No distress or material-risk keywords in recent headlines (keyword scan only — not a guarantee).
News
2026-09-24 · This Company’s Software Manages Supply Chains for Retailers. Its Stock Can Surge 30%.
2026-09-23 · 3 Quality Growth Stocks For Investors Watching Global Trade And Software Demand
2026-09-23 · Marketo Co-Founder Jon Miller Launches Phave, Marketing Automation That Reasons Instead of Following Rules
2026-09-15 · SPS Commerce Brings Network Intelligence to AI, Enabling Supply Chain Leaders to Turn Investment into Insight
2026-09-14 · SPS Commerce (SPSC) Surges 7.1%: Is This an Indication of Further Gains?
2026-09-11 · Why SPS Commerce Rallied on Friday
2026-09-11 · Market Chatter: SPS Commerce in Talks to Be Acquired by GTCR
2026-09-02 · SPS Commerce to Present at Citi's 2026 Global TMT Conference
2026-08-19 · Why SPS Commerce Stock Was a Winner on Wednesday
2026-08-19 · Walgreens, US Foods, Petco and More Recognized in the Inaugural Class of Top Supply Chain Leaders by SPS Commerce
2026-08-04 · SPS Commerce (SPSC) Q2 2026 Earnings Call Transcript
2026-08-02 · SPS Commerce (SPSC) Faces A 8% Fair Value Gap As Earnings And Guidance Land
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