SPS Commerce (SPSC) Financials

$149.00 -0.28 (-0.19%)

As of 05/20/2025 04:00 PM Eastern

Annual Income Statements for SPS Commerce

This table shows SPS Commerce's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	77	66	55	45	46	34	24	0.35	4.96	4.64
Consolidated Net Income / (Loss)	77	66	55	45	46	34	24	0.35	4.96	4.64
Net Income / (Loss) Continuing Operations	77	66	55	45	46	34	24	0.35	4.96	4.64
Total Pre-Tax Income	99	86	71	54	53	42	28	11	7.72	7.08
Total Operating Income	89	77	71	55	50	38	27	9.98	6.39	7.02
Total Gross Profit	427	355	298	254	213	187	166	146	129	108
Total Revenue	638	537	451	385	313	279	248	220	193	159
Operating Revenue	638	537	451	385	313	279	248	220	193	159
Total Cost of Revenue	211	182	153	132	100	92	82	74	64	50
Operating Cost of Revenue	211	182	153	132	100	92	82	74	64	50
Total Operating Expenses	338	278	227	199	163	148	140	136	122	101
Selling, General & Admin Expense	103	85	67	61	50	45	42	37	29	25
Marketing Expense	149	123	102	88	76	70	72	71	67	55
Research & Development Expense	63	54	46	39	31	28	22	23	22	18
Amortization Expense	24	16	12	10	5.54	5.32	4.09	4.57	4.74	3.31
Total Other Income / (Expense), net	11	8.32	0.14	-1.54	2.52	3.66	1.61	0.71	1.33	0.05
Income Tax Expense	22	20	16	8.94	7.09	8.36	4.47	10	2.76	2.44
Basic Earnings per Share	$2.07	$1.80	$1.53	$1.24	$1.29	$0.96	$0.69	$0.01	$0.29	$0.28
Weighted Average Basic Shares Outstanding	37.31M	36.65M	36.12M	35.93M	35.23M	35.02M	34.39M	34.37M	16.95M	16.57M
Diluted Earnings per Share	$2.04	$1.76	$1.49	$1.21	$1.26	$0.94	$0.68	$0.01	$0.29	$0.27
Weighted Average Diluted Shares Outstanding	37.86M	37.48M	36.95M	36.96M	36.29M	36.00M	35.21M	34.71M	17.24M	17.03M
Weighted Average Basic & Diluted Shares Outstanding	37.77M	36.97M	36.31M	36.01M	35.58M	34.86M	17.20M	2.20M	16.80M	16.60M

This table shows SPS Commerce's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	22	18	23	18	18	19	17	15	15	16	16
Consolidated Net Income / (Loss)	22	18	23	18	18	19	17	15	15	16	16
Net Income / (Loss) Continuing Operations	22	18	23	18	18	19	17	15	15	16	16
Total Pre-Tax Income	28	24	29	27	19	26	22	19	18	21	19
Total Operating Income	26	25	26	23	15	23	21	17	17	19	20
Total Gross Profit	125	115	112	102	98	96	90	86	83	80	76
Total Revenue	182	171	164	154	150	145	136	130	126	122	114
Operating Revenue	182	171	164	154	150	145	136	130	126	122	114
Total Cost of Revenue	57	56	52	52	51	49	46	45	43	42	39
Operating Cost of Revenue	57	56	52	52	51	49	46	45	43	42	39
Total Operating Expenses	99	91	86	78	83	73	70	69	66	61	56
Selling, General & Admin Expense	31	26	27	24	26	21	22	22	21	18	17
Marketing Expense	42	39	38	36	36	33	30	30	29	27	25
Research & Development Expense	17	17	15	14	16	14	14	13	13	12	11
Amortization Expense	8.59	7.86	6.47	4.84	4.34	5.00	3.79	3.48	3.85	3.83	3.00
Total Other Income / (Expense), net	2.21	-0.37	3.78	4.06	3.13	3.46	1.70	1.88	1.28	1.75	-0.70
Income Tax Expense	5.97	6.81	5.89	9.19	0.53	7.33	5.46	4.23	2.72	4.85	3.13
Basic Earnings per Share	$0.58	$0.46	$0.63	$0.49	$0.49	$0.52	$0.46	$0.40	$0.42	$0.44	$0.44
Weighted Average Basic Shares Outstanding	37.99M	37.31M	37.45M	37.08M	37.05M	36.65M	36.73M	36.59M	36.43M	36.12M	36.09M
Diluted Earnings per Share	$0.58	$0.46	$0.62	$0.48	$0.48	$0.51	$0.45	$0.39	$0.41	$0.43	$0.43
Weighted Average Diluted Shares Outstanding	38.16M	37.86M	38.00M	37.68M	37.69M	37.48M	37.58M	37.43M	37.16M	36.95M	36.92M
Weighted Average Basic & Diluted Shares Outstanding	37.98M	37.77M	37.57M	37.10M	37.03M	36.97M	36.70M	36.65M	36.53M	36.31M	36.04M

This table details how cash moves in and out of SPS Commerce's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	22	56	-45	58	-30	45	11	7.25	-5.66	-9.26
Net Cash From Operating Activities	157	132	100	113	89	72	55	31	19	14
Net Cash From Continuing Operating Activities	157	132	100	113	89	72	55	31	19	14
Net Income / (Loss) Continuing Operations	77	66	55	45	46	34	24	0.35	4.96	4.64
Consolidated Net Income / (Loss)	77	66	55	45	46	34	24	0.35	4.96	4.64
Depreciation Expense	19	19	16	15	13	11	8.59	7.21	6.60	6.27
Amortization Expense	24	16	12	10	5.54	5.32	4.09	4.57	4.74	3.31
Non-Cash Adjustments To Reconcile Net Income	61	52	35	35	23	19	15	14	9.40	7.65
Changes in Operating Assets and Liabilities, net	-23	-20	-19	7.98	0.97	3.06	3.72	4.50	-6.93	-7.43
Net Cash From Investing Activities	-110	-93	-113	-47	-120	-14	-40	-23	-34	-31
Net Cash From Continuing Investing Activities	-110	-93	-113	-47	-120	-14	-40	-23	-34	-31
Purchase of Property, Plant & Equipment	-20	-20	-20	-20	-16	-14	-14	-7.27	-8.01	-8.76
Acquisitions	-148	-70	-91	-17	-99	-12	-27	-0.50	-18	0.00
Purchase of Investments	-86	-134	-160	-121	-75	-74	-82	-48	-23	-23
Sale and/or Maturity of Investments	143	131	159	111	69	84	82	33	15	0.00
Net Cash From Financing Activities	-23	16	-32	-8.36	2.33	-12	-3.78	-2.47	10	8.25
Net Cash From Continuing Financing Activities	-23	16	-32	-8.36	2.33	-12	-3.78	-2.47	10	8.25
Repurchase of Common Equity	-38	0.00	-43	-20	-19	-21	-20	-5.82	0.00	0.00
Issuance of Common Equity	9.83	8.11	6.68	4.74	3.37	2.27	1.75	1.93	1.73	1.48
Other Financing Activities, net	4.71	7.86	4.91	7.33	18	6.21	14	1.41	8.37	6.78
Effect of Exchange Rate Changes	-1.98	0.56	-0.29	0.03	0.02	0.05	-0.04	1.29	-0.37	-0.66
Cash Income Taxes Paid	27	29	16	9.98	1.66	1.55	1.53	1.07	0.72	0.11

This table details how cash moves in and out of SPS Commerce's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-146	42	-41	5.60	16	40	-31	27	19	-23	-26
Net Cash From Operating Activities	40	41	53	29	34	33	44	34	22	24	40
Net Cash From Continuing Operating Activities	40	41	53	29	34	33	44	34	22	24	40
Net Income / (Loss) Continuing Operations	22	18	23	18	18	19	17	15	15	16	16
Consolidated Net Income / (Loss)	22	18	23	18	18	19	17	15	15	16	16
Depreciation Expense	4.96	4.71	4.63	4.68	4.69	4.67	4.68	4.66	4.63	4.44	4.17
Amortization Expense	8.59	7.86	6.47	4.84	4.34	5.00	3.79	3.48	3.85	3.83	3.00
Non-Cash Adjustments To Reconcile Net Income	15	15	12	14	20	11	13	14	13	7.98	7.12
Changes in Operating Assets and Liabilities, net	-11	-4.32	6.85	-12	-13	-7.18	5.48	-3.09	-15	-8.59	9.55
Net Cash From Investing Activities	-148	-0.23	-98	-8.98	-2.95	0.81	-75	-14	-4.59	-52	-55
Net Cash From Continuing Investing Activities	-148	-0.23	-98	-8.98	-2.95	0.81	-75	-14	-4.59	-52	-55
Purchase of Property, Plant & Equipment	-6.15	-6.21	-5.24	-5.06	-3.53	-4.29	-5.70	-4.51	-5.26	-5.99	-5.70
Acquisitions	-142	-0.52	-118	-	-	-	-70	-	-	-46	-
Purchase of Investments	0.00	-	-6.77	-35	-44	-31	-34	-34	-34	-26	-20
Sale and/or Maturity of Investments	0.00	6.51	32	60	45	36	35	25	35	26	15
Net Cash From Financing Activities	-39	4.67	2.25	-15	-15	5.97	1.05	6.53	2.43	5.02	-10
Net Cash From Continuing Financing Activities	-39	4.67	2.25	-15	-15	5.97	1.05	6.53	2.43	5.02	-10
Repurchase of Common Equity	-40	-	-0.08	-21	-17	-	-	-	0.00	-0.52	-12
Issuance of Common Equity	0.41	4.16	0.45	4.83	0.39	3.63	0.35	3.90	0.24	3.09	0.24
Other Financing Activities, net	0.64	0.52	1.88	1.05	1.26	2.33	0.71	2.64	2.18	2.45	1.77
Effect of Exchange Rate Changes	0.66	-2.83	1.33	0.20	-0.67	0.82	-0.35	0.15	-0.06	0.27	-0.42

This table presents SPS Commerce's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	1,031	824	673	616	526	447	386	340	298	262
Total Current Assets	382	401	323	352	271	292	250	224	186	167
Cash & Equivalents	241	219	163	208	150	179	134	123	116	122
Short-Term Investments	0.00	56	51	50	38	34	45	40	23	7.52
Accounts Receivable	52	47	39	35	34	32	27	25	21	18
Other Current Assets	89	79	69	61	50	47	44	36	26	20
Plant, Property, & Equipment, net	38	36	35	32	26	24	21	17	15	14
Total Noncurrent Assets	612	386	315	232	229	132	116	99	97	81
Goodwill	399	249	197	144	135	77	70	52	50	34
Intangible Assets	181	107	88	59	60	23	23	17	20	15
Noncurrent Deferred & Refundable Income Taxes	0.51	0.51	0.23	0.18	0.19	2.63	10	14	12	11
Other Noncurrent Operating Assets	31	29	29	29	31	30	13	12	7.61	6.30
Total Liabilities & Shareholders' Equity	1,031	824	673	616	526	447	386	340	298	262
Total Liabilities	177	156	136	132	106	93	67	52	49	40
Total Current Liabilities	147	131	111	103	80	68	57	44	32	24
Accounts Payable	8.58	7.42	11	8.33	5.35	4.27	4.44	4.46	2.30	2.16
Accrued Expenses	12	8.01	7.45	8.35	11	6.21	4.56	4.71	3.51	1.99
Current Deferred Revenue	74	69	57	50	38	31	27	20	13	8.93
Current Employee Benefit Liabilities	47	42	30	32	23	22	20	15	14	11
Other Current Liabilities	4.58	4.46	4.28	4.11	2.80	3.78	0.00	-	-	-
Total Noncurrent Liabilities	30	26	25	29	26	25	11	7.68	17	15
Noncurrent Deferred Revenue	6.19	6.93	4.77	5.14	3.00	2.85	7.88	5.80	15	15
Noncurrent Deferred & Payable Income Tax Liabilities	16	8.97	7.42	7.15	2.94	1.19	1.38	1.89	1.91	0.00
Other Noncurrent Operating Liabilities	8.13	9.80	13	16	20	20	1.37	0.00	-	-
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	855	667	537	484	421	355	319	288	249	222
Total Preferred & Common Equity	855	667	537	484	421	355	319	288	249	222
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	855	667	537	484	421	355	319	288	249	222
Common Stock	628	537	476	433	393	354	333	302	286	265
Retained Earnings	336	259	193	138	93	49	15	-8.61	-34	-39
Treasury Stock	-100	-129	-129	-86	-65	-46	-26	-5.82	0.00	-
Accumulated Other Comprehensive Income / (Loss)	-9.68	0.22	-3.41	-1.45	-1.02	-1.95	-3.22	0.66	-3.33	-3.65

This table presents SPS Commerce's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,109	1,003	855	840	787	736	697	637
Total Current Assets	252	345	407	420	360	385	346	339
Cash & Equivalents	95	199	240	235	179	209	182	186
Accounts Receivable	63	56	55	52	45	45	43	37
Other Current Assets	94	83	80	77	75	70	69	65
Plant, Property, & Equipment, net	39	36	35	35	36	35	35	33
Total Noncurrent Assets	819	623	413	385	391	315	315	265
Goodwill	534	424	269	249	252	203	199	166
Intangible Assets	252	168	108	99	104	78	85	71
Noncurrent Deferred & Refundable Income Taxes	0.56	0.41	7.35	7.48	6.81	6.68	3.37	0.22
Other Noncurrent Operating Assets	32	30	29	29	29	28	29	28
Total Liabilities & Shareholders' Equity	1,109	1,003	855	840	787	736	697	637
Total Liabilities	188	174	151	157	161	135	131	129
Total Current Liabilities	153	146	129	134	133	112	107	105
Accounts Payable	11	8.11	5.88	12	6.20	6.16	5.34	8.20
Accrued Expenses	17	8.97	9.45	11	8.90	6.71	8.16	5.20
Current Deferred Revenue	79	79	76	74	72	66	63	59
Current Employee Benefit Liabilities	41	46	32	33	41	29	26	29
Other Current Liabilities	6.16	4.36	4.59	4.48	4.45	4.07	4.12	4.34
Total Noncurrent Liabilities	35	28	23	23	28	23	24	24
Noncurrent Deferred Revenue	5.75	6.55	7.11	6.47	6.85	5.72	5.11	5.15
Noncurrent Deferred & Payable Income Tax Liabilities	20	12	7.01	7.54	10	5.81	6.98	4.84
Other Noncurrent Operating Liabilities	8.66	9.45	8.43	8.66	11	11	12	14
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	921	829	703	683	627	601	566	508
Total Preferred & Common Equity	921	829	703	683	627	601	566	508
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	921	829	703	683	627	601	566	508
Common Stock	672	612	575	558	520	509	490	463
Retained Earnings	358	319	295	277	240	223	209	177
Treasury Stock	-102	-100	-162	-149	-129	-129	-129	-128
Accumulated Other Comprehensive Income / (Loss)	-7.46	-1.19	-4.35	-3.23	-4.65	-1.84	-3.48	-4.66

This table displays calculated financial ratios and metrics derived from SPS Commerce's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	18.78%	19.08%	17.03%	23.24%	12.00%	12.44%	12.79%	13.94%	21.85%	23.89%
EBITDA Growth	17.07%	12.70%	24.22%	16.24%	25.49%	41.73%	80.46%	16.20%	12.18%	31.65%
EBIT Growth	15.06%	8.52%	29.22%	9.82%	30.60%	47.65%	169.24%	35.75%	3.47%	75.24%
NOPAT Growth	15.85%	8.00%	19.92%	5.71%	41.03%	36.68%	6,772.62%	-92.02%	-10.84%	59.77%
Net Income Growth	17.06%	19.39%	23.63%	-2.17%	35.22%	41.22%	6,701.14%	-92.93%	6.98%	71.56%
EPS Growth	15.91%	18.12%	23.14%	-3.97%	34.04%	38.24%	6,701.14%	-92.93%	7.41%	68.75%
Operating Cash Flow Growth	18.97%	32.23%	-11.37%	27.47%	23.36%	30.50%	77.18%	65.47%	30.05%	-14.05%
Free Cash Flow Firm Growth	-1,452.77%	75.88%	-182.12%	208.00%	-253.26%	1,868.55%	109.28%	19.95%	-2,948.39%	107.26%
Invested Capital Growth	56.54%	21.46%	42.22%	-1.64%	63.25%	0.54%	17.55%	16.31%	31.52%	5.23%
Revenue Q/Q Growth	4.24%	4.46%	4.46%	5.32%	3.50%	2.78%	2.96%	3.35%	4.64%	4.58%
EBITDA Q/Q Growth	3.77%	4.94%	6.11%	3.63%	5.52%	6.70%	25.78%	-4.02%	-5.18%	13.90%
EBIT Q/Q Growth	2.14%	5.28%	5.39%	3.41%	5.90%	6.49%	42.06%	-9.87%	-17.76%	38.39%
NOPAT Q/Q Growth	2.23%	3.27%	3.14%	1.05%	10.16%	5.75%	143.21%	-95.85%	-19.07%	24.91%
Net Income Q/Q Growth	-1.85%	4.94%	6.06%	-1.56%	10.44%	6.38%	139.85%	-95.71%	-17.79%	38.02%
EPS Q/Q Growth	-2.39%	4.76%	6.43%	-3.97%	7.69%	3.30%	139.85%	-95.71%	-19.44%	42.11%
Operating Cash Flow Q/Q Growth	5.20%	7.49%	-7.19%	7.93%	2.55%	4.92%	17.99%	2.19%	4.81%	19.75%
Free Cash Flow Firm Q/Q Growth	9.45%	83.45%	-3,040.11%	218.55%	-188.35%	1,961.32%	-87.12%	-321.62%	9.33%	104.64%
Invested Capital Q/Q Growth	-1.59%	1.17%	19.32%	3.85%	75.83%	-1.78%	20.93%	0.64%	-3.93%	-1.42%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	66.96%	66.09%	66.05%	65.82%	68.07%	66.95%	67.07%	66.55%	66.69%	68.43%
EBITDA Margin	20.56%	20.86%	22.04%	20.76%	22.01%	19.65%	15.59%	9.74%	9.55%	10.38%
Operating Margin	13.94%	14.39%	15.79%	14.30%	16.04%	13.76%	10.77%	4.54%	3.31%	4.43%
EBIT Margin	13.94%	14.39%	15.79%	14.30%	16.04%	13.76%	10.48%	4.39%	3.68%	4.34%
Profit (Net Income) Margin	12.08%	12.26%	12.23%	11.58%	14.58%	12.08%	9.62%	0.16%	2.57%	2.93%
Tax Burden Percent	77.46%	76.93%	77.30%	83.30%	86.53%	80.13%	84.23%	3.28%	64.30%	65.57%
Interest Burden Percent	111.92%	110.76%	100.20%	97.20%	105.03%	109.54%	108.95%	110.68%	108.44%	102.86%
Effective Tax Rate	22.54%	23.07%	22.70%	16.71%	13.47%	19.87%	15.77%	96.72%	35.70%	34.43%
Return on Invested Capital (ROIC)	13.69%	16.63%	20.02%	20.05%	23.33%	21.83%	17.31%	0.29%	4.54%	6.04%
ROIC Less NNEP Spread (ROIC-NNEP)	10.51%	14.02%	19.97%	20.62%	22.25%	20.34%	16.53%	0.28%	3.95%	6.02%
Return on Net Nonoperating Assets (RNNOA)	-3.57%	-5.70%	-9.22%	-10.19%	-11.58%	-11.83%	-9.45%	-0.16%	-2.43%	-3.87%
Return on Equity (ROE)	10.12%	10.93%	10.80%	9.86%	11.76%	10.01%	7.86%	0.13%	2.11%	2.17%
Cash Return on Invested Capital (CROIC)	-30.38%	-2.75%	-14.84%	21.71%	-24.73%	21.29%	1.17%	-14.78%	-22.69%	0.95%
Operating Return on Assets (OROA)	9.58%	10.32%	11.05%	9.64%	10.30%	9.21%	7.17%	3.03%	2.54%	2.72%
Return on Assets (ROA)	8.31%	8.80%	8.56%	7.81%	9.36%	8.09%	6.58%	0.11%	1.77%	1.84%
Return on Common Equity (ROCE)	10.12%	10.93%	10.80%	9.86%	11.76%	10.01%	7.86%	0.13%	2.11%	2.17%
Return on Equity Simple (ROE_SIMPLE)	9.02%	9.86%	10.27%	9.21%	10.84%	9.50%	7.48%	0.12%	1.99%	2.09%
Net Operating Profit after Tax (NOPAT)	69	59	55	46	43	31	23	0.33	4.11	4.60
NOPAT Margin	10.80%	11.07%	12.20%	11.91%	13.88%	11.03%	9.07%	0.15%	2.13%	2.91%
Net Nonoperating Expense Percent (NNEP)	3.18%	2.61%	0.05%	-0.58%	1.08%	1.50%	0.78%	0.01%	0.59%	0.02%
Return On Investment Capital (ROIC_SIMPLE)	8.06%	8.90%	10.25%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	33.04%	33.91%	33.95%	34.18%	31.93%	33.05%	32.93%	33.45%	33.31%	31.57%
SG&A Expenses to Revenue	16.14%	15.81%	14.94%	15.91%	16.03%	16.02%	16.86%	17.02%	14.92%	15.66%
R&D to Revenue	9.85%	9.99%	10.15%	10.13%	9.92%	10.14%	8.90%	10.53%	11.38%	11.33%
Operating Expenses to Revenue	53.02%	51.70%	50.26%	51.52%	52.02%	53.19%	56.30%	62.01%	63.38%	64.00%
Earnings before Interest and Taxes (EBIT)	89	77	71	55	50	38	26	9.66	7.12	6.88
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	131	112	99	80	69	55	39	21	18	16
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.09	10.66	8.62	10.57	9.11	5.44	4.56	2.90	4.78	5.25
Price to Tangible Book Value (P/TBV)	25.21	22.88	18.41	18.15	16.99	7.56	6.42	3.80	6.63	6.74
Price to Revenue (P/Rev)	10.84	13.25	10.27	13.29	12.26	6.92	5.86	3.80	6.17	7.36
Price to Earnings (P/E)	89.71	108.07	83.96	114.79	84.11	57.27	60.96	2,384.42	239.95	251.62
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.11%	0.93%	1.19%	0.87%	1.19%	1.75%	1.64%	0.04%	0.42%	0.40%
Enterprise Value to Invested Capital (EV/IC)	10.87	17.44	13.68	21.42	15.79	12.15	9.08	5.59	10.16	13.09
Enterprise Value to Revenue (EV/Rev)	10.46	12.74	9.79	12.62	11.66	6.15	5.14	3.04	5.41	6.46
Enterprise Value to EBITDA (EV/EBITDA)	50.88	61.06	44.42	60.78	52.95	31.31	33.00	31.17	56.60	62.20
Enterprise Value to EBIT (EV/EBIT)	75.06	88.52	62.02	88.27	72.65	44.71	49.09	69.19	146.75	148.77
Enterprise Value to NOPAT (EV/NOPAT)	96.90	115.07	80.23	105.97	83.96	55.80	56.71	2,040.13	254.38	222.21
Enterprise Value to Operating Cash Flow (EV/OCF)	42.38	51.69	44.12	43.07	41.15	23.92	23.21	21.53	55.66	70.92
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	97.88	0.00	57.22	837.44	0.00	0.00	1,419.40
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.34	-0.41	-0.46	-0.49	-0.52	-0.58	-0.57	-0.59	-0.62	-0.64
Leverage Ratio	1.22	1.24	1.26	1.26	1.26	1.24	1.20	1.19	1.19	1.18
Compound Leverage Factor	1.36	1.38	1.26	1.23	1.32	1.36	1.30	1.31	1.29	1.22
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	25.13	29.09	22.24	25.06	23.35	14.18	14.52	11.07	15.74	18.84
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.60	3.07	2.92	3.43	3.39	4.29	4.42	5.10	5.78	6.88
Quick Ratio	2.00	2.47	2.29	2.84	2.76	3.60	3.64	4.28	4.97	6.05
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-153	-9.84	-41	50	-46	30	1.52	-16	-21	0.72
Operating Cash Flow to CapEx	785.18%	669.49%	503.28%	576.34%	537.82%	528.48%	400.11%	427.04%	234.33%	164.77%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.69	0.72	0.70	0.67	0.64	0.67	0.68	0.69	0.69	0.63
Accounts Receivable Turnover	12.90	12.45	12.19	11.31	9.60	9.46	9.48	9.64	10.07	9.60
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	17.33	15.02	13.39	13.21	12.46	12.49	13.13	13.68	13.35	12.69
Accounts Payable Turnover	26.34	19.50	15.63	19.25	20.74	21.17	18.36	21.77	28.82	16.34
Days Sales Outstanding (DSO)	28.29	29.33	29.95	32.28	38.01	38.59	38.51	37.85	36.25	38.04
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	13.86	18.72	23.35	18.97	17.60	17.24	19.88	16.77	12.66	22.33
Cash Conversion Cycle (CCC)	14.44	10.61	6.60	13.31	20.41	21.35	18.64	21.08	23.58	15.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	614	392	323	227	231	141	141	120	103	78
Invested Capital Turnover	1.27	1.50	1.64	1.68	1.68	1.98	1.91	1.98	2.13	2.08
Increase / (Decrease) in Invested Capital	222	69	96	-3.79	89	0.76	21	17	25	3.88
Enterprise Value (EV)	6,671	6,838	4,415	4,862	3,644	1,717	1,277	668	1,044	1,023
Market Capitalization	6,912	7,113	4,629	5,120	3,834	1,931	1,455	837	1,191	1,167
Book Value per Share	$22.75	$18.19	$14.90	$13.47	$11.92	$10.19	$18.06	$16.73	$14.63	$13.36
Tangible Book Value per Share	$7.30	$8.47	$6.98	$7.84	$6.39	$7.33	$12.83	$12.77	$10.55	$10.42
Total Capital	855	667	537	484	421	355	319	288	249	222
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-241	-275	-214	-257	-190	-214	-178	-169	-146	-144
Capital Expenditures (CapEx)	20	20	20	20	16	14	14	7.27	8.01	8.76
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-5.79	-4.67	-2.13	-7.74	3.75	10	15	17	15	13
Debt-free Net Working Capital (DFNWC)	235	271	212	250	191	224	193	180	154	143
Net Working Capital (NWC)	235	271	212	250	191	224	193	180	154	143
Net Nonoperating Expense (NNE)	-8.21	-6.40	-0.11	1.29	-2.18	-2.94	-1.36	-0.02	-0.86	-0.03
Net Nonoperating Obligations (NNO)	-241	-275	-214	-257	-190	-214	-178	-169	-146	-144
Total Depreciation and Amortization (D&A)	42	35	28	25	19	16	13	12	11	9.57
Debt-free, Cash-free Net Working Capital to Revenue	-0.91%	-0.87%	-0.47%	-2.01%	1.20%	3.60%	5.92%	7.75%	7.67%	8.51%
Debt-free Net Working Capital to Revenue	36.88%	50.43%	47.06%	64.78%	61.17%	80.10%	77.78%	81.96%	79.61%	89.93%
Net Working Capital to Revenue	36.88%	50.43%	47.06%	64.78%	61.17%	80.10%	77.78%	81.96%	79.61%	89.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.07	$1.80	$1.53	$1.24	$1.29	$0.96	$0.00	($0.07)	$0.17	$0.14
Adjusted Weighted Average Basic Shares Outstanding	37.31M	36.65M	36.12M	35.93M	35.23M	35.02M	0.00	34.37M	33.89M	33.13M
Adjusted Diluted Earnings per Share	$2.04	$1.76	$1.49	$1.21	$1.26	$0.94	$0.00	($0.07)	$0.17	$0.14
Adjusted Weighted Average Diluted Shares Outstanding	37.86M	37.48M	36.95M	36.96M	36.29M	36.00M	0.00	34.37M	34.48M	34.06M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	37.77M	36.97M	36.31M	36.01M	35.58M	34.86M	0.00	34.50M	34.36M	33.69M
Normalized Net Operating Profit after Tax (NOPAT)	69	59	55	46	43	31	23	6.99	4.11	4.60
Normalized NOPAT Margin	10.80%	11.07%	12.20%	11.91%	13.88%	11.03%	9.07%	3.17%	2.13%	2.91%
Pre Tax Income Margin	15.60%	15.94%	15.82%	13.90%	16.85%	15.07%	11.42%	4.86%	4.00%	4.46%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	48.75%	0.00%	78.38%	45.81%	41.57%	61.16%	83.21%	1,656.70%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from SPS Commerce's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.38%	17.90%	20.66%	17.77%	18.84%	18.81%	18.50%	19.45%	19.65%	18.75%	16.96%
EBITDA Growth	61.66%	14.64%	26.19%	29.84%	-3.06%	19.30%	8.21%	12.46%	10.34%	26.53%	36.92%
EBIT Growth	68.51%	8.12%	24.14%	36.00%	-7.93%	20.36%	4.62%	6.67%	1.33%	23.68%	45.63%
NOPAT Growth	36.73%	7.93%	31.39%	16.07%	5.32%	13.35%	-5.39%	12.65%	15.60%	13.27%	36.02%
Net Income Growth	23.29%	-7.64%	39.29%	22.82%	17.75%	19.45%	6.17%	36.54%	21.31%	24.68%	38.55%
EPS Growth	20.83%	-9.80%	37.78%	23.08%	17.07%	18.60%	4.65%	34.48%	20.59%	26.47%	38.71%
Operating Cash Flow Growth	17.38%	23.72%	21.64%	-13.51%	57.48%	39.11%	10.44%	4.94%	397.61%	-24.76%	47.52%
Free Cash Flow Firm Growth	-823.71%	-286.37%	-112.55%	-7.13%	35.86%	35.07%	-185.62%	-1,611.50%	-956.82%	-587.69%	52.78%
Invested Capital Growth	110.63%	56.54%	60.92%	30.48%	17.96%	21.46%	43.26%	39.12%	33.80%	42.22%	23.78%
Revenue Q/Q Growth	6.23%	4.41%	6.57%	2.69%	3.18%	6.86%	4.02%	3.61%	3.16%	6.58%	4.86%
EBITDA Q/Q Growth	5.85%	1.75%	12.19%	33.78%	-24.93%	12.01%	15.44%	-0.13%	-7.61%	1.59%	19.97%
EBIT Q/Q Growth	4.90%	-3.23%	10.39%	50.39%	-32.70%	11.10%	20.94%	1.81%	-12.01%	-3.43%	23.31%
NOPAT Q/Q Growth	14.75%	-12.78%	33.20%	2.57%	-9.42%	6.18%	17.66%	-6.93%	-2.52%	-11.38%	40.11%
Net Income Q/Q Growth	26.41%	-25.15%	30.10%	0.16%	-5.30%	12.88%	14.71%	-3.97%	-3.93%	0.33%	47.52%
EPS Q/Q Growth	26.09%	-25.81%	29.17%	0.00%	-5.88%	13.33%	15.38%	-4.88%	-4.65%	0.00%	48.28%
Operating Cash Flow Q/Q Growth	-1.43%	-23.94%	81.14%	-13.57%	3.90%	-25.22%	28.80%	57.36%	-8.22%	-40.63%	22.38%
Free Cash Flow Firm Q/Q Growth	-102.83%	5.49%	-152.25%	-91.02%	15.16%	48.01%	-27.13%	-14.38%	14.13%	-128.74%	-661.80%
Invested Capital Q/Q Growth	34.60%	-1.59%	44.47%	10.07%	0.03%	1.17%	17.14%	-0.49%	3.00%	19.32%	13.76%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	68.65%	67.48%	68.46%	66.13%	65.58%	66.17%	66.45%	65.84%	65.87%	65.96%	66.28%
EBITDA Margin	21.76%	21.83%	22.41%	21.28%	16.34%	22.45%	21.42%	19.30%	20.03%	22.36%	23.46%
Operating Margin	14.30%	14.48%	15.62%	15.08%	10.30%	15.79%	15.18%	13.06%	13.29%	15.58%	17.20%
EBIT Margin	14.30%	14.48%	15.62%	15.08%	10.30%	15.79%	15.18%	13.06%	13.29%	15.58%	17.20%
Profit (Net Income) Margin	12.23%	10.27%	14.33%	11.74%	12.04%	13.11%	12.41%	11.26%	12.15%	13.04%	13.86%
Tax Burden Percent	78.81%	72.05%	79.93%	66.24%	97.13%	72.17%	75.52%	77.62%	84.91%	76.64%	83.51%
Interest Burden Percent	108.50%	98.49%	114.77%	117.51%	120.33%	115.10%	108.26%	111.05%	107.63%	109.21%	96.47%
Effective Tax Rate	21.19%	27.95%	20.07%	33.76%	2.87%	27.83%	24.48%	22.38%	15.09%	23.36%	16.49%
Return on Invested Capital (ROIC)	12.39%	13.23%	15.11%	15.30%	15.48%	17.12%	17.91%	17.57%	18.32%	19.59%	25.35%
ROIC Less NNEP Spread (ROIC-NNEP)	11.49%	13.33%	13.76%	14.31%	14.32%	16.10%	17.37%	17.02%	17.87%	19.02%	25.59%
Return on Net Nonoperating Assets (RNNOA)	-2.76%	-4.52%	-4.20%	-5.94%	-6.01%	-6.55%	-7.30%	-8.21%	-8.05%	-8.78%	-12.80%
Return on Equity (ROE)	9.63%	8.71%	10.91%	9.35%	9.47%	10.57%	10.62%	9.37%	10.27%	10.81%	12.56%
Cash Return on Invested Capital (CROIC)	-59.07%	-30.38%	-33.38%	-10.06%	0.20%	-2.75%	-18.07%	-12.19%	-9.28%	-14.84%	0.57%
Operating Return on Assets (OROA)	9.83%	9.96%	10.68%	11.07%	7.51%	11.33%	10.96%	9.48%	9.57%	10.90%	12.09%
Return on Assets (ROA)	8.40%	7.06%	9.79%	8.62%	8.78%	9.41%	8.96%	8.17%	8.74%	9.13%	9.74%
Return on Common Equity (ROCE)	9.63%	8.71%	10.91%	9.35%	9.47%	10.57%	10.62%	9.37%	10.27%	10.81%	12.56%
Return on Equity Simple (ROE_SIMPLE)	8.82%	0.00%	9.47%	10.22%	10.04%	0.00%	10.01%	10.27%	10.22%	0.00%	10.24%
Net Operating Profit after Tax (NOPAT)	20	18	20	15	15	17	16	13	14	15	16
NOPAT Margin	11.27%	10.43%	12.49%	9.99%	10.00%	11.39%	11.47%	10.14%	11.29%	11.94%	14.36%
Net Nonoperating Expense Percent (NNEP)	0.90%	-0.10%	1.36%	0.99%	1.16%	1.02%	0.54%	0.55%	0.45%	0.57%	-0.24%
Return On Investment Capital (ROIC_SIMPLE)	2.22%	2.09%	-	-	-	2.47%	-	-	-	2.71%	-
Cost of Revenue to Revenue	31.35%	32.52%	31.54%	33.87%	34.42%	33.83%	33.56%	34.16%	34.13%	34.05%	33.72%
SG&A Expenses to Revenue	17.09%	15.42%	16.59%	15.31%	17.32%	14.22%	16.15%	16.63%	16.43%	14.71%	14.61%
R&D to Revenue	9.61%	10.03%	9.34%	9.35%	10.70%	9.81%	9.99%	10.21%	9.98%	10.23%	9.73%
Operating Expenses to Revenue	54.35%	53.00%	52.84%	51.05%	55.28%	50.38%	51.26%	52.78%	52.57%	50.37%	49.08%
Earnings before Interest and Taxes (EBIT)	26	25	26	23	15	23	21	17	17	19	20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	40	37	37	33	24	33	29	25	25	27	27
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.44	8.09	8.68	9.91	9.94	10.66	9.98	11.68	9.77	8.62	8.81
Price to Tangible Book Value (P/TBV)	37.22	25.21	30.30	21.31	20.26	22.88	23.06	21.89	19.59	18.41	16.51
Price to Revenue (P/Rev)	7.49	10.84	11.77	11.94	12.10	13.25	12.17	14.24	11.73	10.27	10.37
Price to Earnings (P/E)	61.71	89.71	91.75	96.93	99.00	108.07	99.69	113.63	95.65	83.96	86.07
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.62%	1.11%	1.09%	1.03%	1.01%	0.93%	1.00%	0.88%	1.05%	1.19%	1.16%
Enterprise Value to Invested Capital (EV/IC)	5.96	10.87	11.22	15.51	16.56	17.44	15.52	20.39	15.93	13.68	15.66
Enterprise Value to Revenue (EV/Rev)	7.34	10.46	11.44	11.47	11.58	12.74	11.70	13.69	11.23	9.79	9.82
Enterprise Value to EBITDA (EV/EBITDA)	33.65	50.88	55.38	56.40	58.39	61.06	56.35	64.54	52.07	44.42	45.24
Enterprise Value to EBIT (EV/EBIT)	49.47	75.06	80.40	81.61	85.54	88.52	81.96	93.09	74.18	62.02	62.73
Enterprise Value to NOPAT (EV/NOPAT)	66.43	96.90	103.90	107.16	107.45	115.07	104.51	115.61	92.89	80.23	79.42
Enterprise Value to Operating Cash Flow (EV/OCF)	30.12	42.38	46.77	47.78	44.87	51.69	48.86	56.72	45.14	44.12	39.30
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	8,935.26	0.00	0.00	0.00	0.00	0.00	3,053.64
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.24	-0.34	-0.31	-0.42	-0.42	-0.41	-0.42	-0.48	-0.45	-0.46	-0.50
Leverage Ratio	1.22	1.22	1.23	1.22	1.23	1.24	1.26	1.24	1.24	1.26	1.26
Compound Leverage Factor	1.32	1.20	1.41	1.43	1.48	1.43	1.36	1.37	1.33	1.38	1.21
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	17.23	24.92	26.22	29.32	27.55	28.87	24.88	32.90	26.91	21.99	22.35
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.64	2.60	2.36	3.17	3.13	3.07	2.71	3.44	3.24	2.92	3.22
Quick Ratio	1.03	2.00	1.79	2.55	2.56	2.47	2.14	2.81	2.59	2.29	2.60
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-413	-204	-216	-85	-45	-53	-101	-80	-70	-81	-36
Operating Cash Flow to CapEx	650.13%	652.75%	1,017.75%	581.97%	964.17%	763.53%	769.43%	755.08%	411.16%	393.74%	696.09%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.69	0.69	0.68	0.73	0.73	0.72	0.72	0.73	0.72	0.70	0.70
Accounts Receivable Turnover	11.59	12.90	12.15	11.63	11.73	12.45	12.55	11.58	11.47	12.19	11.97
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	18.19	17.33	16.91	16.61	16.01	15.02	14.87	14.66	14.01	13.39	13.50
Accounts Payable Turnover	18.35	26.34	28.55	32.90	21.61	19.50	24.25	31.62	31.90	15.63	24.63
Days Sales Outstanding (DSO)	31.48	28.29	30.04	31.38	31.11	29.33	29.09	31.52	31.82	29.95	30.49
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	19.89	13.86	12.78	11.09	16.89	18.72	15.05	11.54	11.44	23.35	14.82
Cash Conversion Cycle (CCC)	11.59	14.44	17.26	20.29	14.22	10.61	14.04	19.97	20.38	6.60	15.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	826	614	624	432	392	392	388	331	332	323	271
Invested Capital Turnover	1.10	1.27	1.21	1.53	1.55	1.50	1.56	1.73	1.62	1.64	1.77
Increase / (Decrease) in Invested Capital	434	222	236	101	60	69	117	93	84	96	52
Enterprise Value (EV)	4,919	6,671	6,997	6,696	6,495	6,838	6,014	6,746	5,297	4,415	4,237
Market Capitalization	5,014	6,912	7,203	6,968	6,785	7,113	6,253	7,016	5,530	4,629	4,474
Book Value per Share	$24.38	$22.75	$22.36	$18.99	$18.43	$18.19	$17.10	$16.45	$15.58	$14.90	$14.10
Tangible Book Value per Share	$3.57	$7.30	$6.41	$8.83	$9.04	$8.47	$7.40	$8.77	$7.78	$6.98	$7.53
Total Capital	921	855	829	703	683	667	627	601	566	537	508
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-95	-241	-206	-272	-291	-275	-239	-270	-233	-214	-237
Capital Expenditures (CapEx)	6.15	6.21	5.24	5.06	3.53	4.29	5.70	4.51	5.26	5.99	5.70
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3.49	-5.79	-7.46	6.61	-4.74	-4.67	-12	2.83	5.97	-2.13	-3.35
Debt-free Net Working Capital (DFNWC)	98	235	198	278	286	271	227	273	239	212	234
Net Working Capital (NWC)	98	235	198	278	286	271	227	273	239	212	234
Net Nonoperating Expense (NNE)	-1.74	0.27	-3.02	-2.69	-3.04	-2.49	-1.29	-1.46	-1.08	-1.34	0.58
Net Nonoperating Obligations (NNO)	-95	-241	-206	-272	-291	-275	-239	-270	-233	-214	-237
Total Depreciation and Amortization (D&A)	14	13	11	9.52	9.03	9.67	8.46	8.14	8.48	8.27	7.17
Debt-free, Cash-free Net Working Capital to Revenue	0.52%	-0.91%	-1.22%	1.13%	-0.85%	-0.87%	-2.42%	0.57%	1.27%	-0.47%	-0.78%
Debt-free Net Working Capital to Revenue	14.69%	36.88%	32.41%	47.69%	51.03%	50.43%	44.14%	55.40%	50.77%	47.06%	54.17%
Net Working Capital to Revenue	14.69%	36.88%	32.41%	47.69%	51.03%	50.43%	44.14%	55.40%	50.77%	47.06%	54.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.58	$0.46	$0.63	$0.49	$0.49	$0.52	$0.46	$0.40	$0.42	$0.44	$0.44
Adjusted Weighted Average Basic Shares Outstanding	37.99M	37.31M	37.45M	37.08M	37.05M	36.65M	36.73M	36.59M	36.43M	36.12M	36.09M
Adjusted Diluted Earnings per Share	$0.58	$0.46	$0.62	$0.48	$0.48	$0.51	$0.45	$0.39	$0.41	$0.43	$0.43
Adjusted Weighted Average Diluted Shares Outstanding	38.16M	37.86M	38.00M	37.68M	37.69M	37.48M	37.58M	37.43M	37.16M	36.95M	36.92M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	37.98M	37.77M	37.57M	37.10M	37.03M	36.97M	36.70M	36.65M	36.53M	36.31M	36.04M
Normalized Net Operating Profit after Tax (NOPAT)	20	18	20	15	15	17	16	13	14	15	16
Normalized NOPAT Margin	11.27%	10.43%	12.49%	9.99%	10.00%	11.39%	11.47%	10.14%	11.29%	11.94%	14.36%
Pre Tax Income Margin	15.51%	14.26%	17.93%	17.72%	12.39%	18.17%	16.44%	14.50%	14.31%	17.02%	16.59%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	75.11%	48.75%	47.85%	52.14%	24.13%	0.00%	0.82%	21.04%	48.41%	78.38%	100.93%

Frequently Asked Questions About SPS Commerce's Financials

When does SPS Commerce's financial year end?

According to the most recent income statement we have on file, SPS Commerce's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has SPS Commerce's net income changed over the last 9 years?

SPS Commerce's net income appears to be on an upward trend, with a most recent value of $77.05 million in 2024, rising from $4.64 million in 2015. The previous period was $65.82 million in 2023. Check out SPS Commerce's forecast to explore projected trends and price targets.

What is SPS Commerce's operating income?

SPS Commerce's total operating income in 2024 was $88.88 million, based on the following breakdown:

Total Gross Profit: $427.05 million
Total Operating Expenses: $338.17 million

How has SPS Commerce revenue changed over the last 9 years?

Over the last 9 years, SPS Commerce's total revenue changed from $158.52 million in 2015 to $637.77 million in 2024, a change of 302.3%.

How much debt does SPS Commerce have?

SPS Commerce's total liabilities were at $176.54 million at the end of 2024, a 12.9% increase from 2023, and a 346.4% increase since 2015.

How much cash does SPS Commerce have?

In the past 9 years, SPS Commerce's cash and equivalents has ranged from $115.88 million in 2016 to $241.02 million in 2024, and is currently $241.02 million as of their latest financial filing in 2024.

How has SPS Commerce's book value per share changed over the last 9 years?

Over the last 9 years, SPS Commerce's book value per share changed from 13.36 in 2015 to 22.75 in 2024, a change of 70.2%.

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This page (NASDAQ:SPSC) was last updated on 5/21/2025 by MarketBeat.com Staff

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SPS Commerce (SPSC) Financials

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SPS Commerce (SPSC) Financials

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