SPS Commerce (SPSC) Financials

$130.18 -1.51 (-1.15%)

As of 04/14/2025 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	4.64	4.96	0.35	24	34	46	45	55	66	77
Consolidated Net Income / (Loss)	4.64	4.96	0.35	24	34	46	45	55	66	77
Net Income / (Loss) Continuing Operations	4.64	4.96	0.35	24	34	46	45	55	66	77
Total Pre-Tax Income	7.08	7.72	11	28	42	53	54	71	86	99
Total Operating Income	7.02	6.39	9.98	27	38	50	55	71	77	89
Total Gross Profit	108	129	146	166	187	213	254	298	355	427
Total Revenue	159	193	220	248	279	313	385	451	537	638
Operating Revenue	159	193	220	248	279	313	385	451	537	638
Total Cost of Revenue	50	64	74	82	92	100	132	153	182	211
Operating Cost of Revenue	50	64	74	82	92	100	132	153	182	211
Total Operating Expenses	101	122	136	140	148	163	199	227	278	338
Selling, General & Admin Expense	25	29	37	42	45	50	61	67	85	103
Marketing Expense	55	67	71	72	70	76	88	102	123	149
Research & Development Expense	18	22	23	22	28	31	39	46	54	63
Amortization Expense	3.31	4.74	4.57	4.09	5.32	5.54	10	12	16	24
Total Other Income / (Expense), net	0.05	1.33	0.71	1.61	3.66	2.52	-1.54	0.14	8.32	11
Income Tax Expense	2.44	2.76	10	4.47	8.36	7.09	8.94	16	20	22
Basic Earnings per Share	$0.28	$0.29	$0.01	$0.69	$0.96	$1.29	$1.24	$1.53	$1.80	$2.07
Weighted Average Basic Shares Outstanding	16.57M	16.95M	34.37M	34.39M	35.02M	35.23M	35.93M	36.12M	36.65M	37.31M
Diluted Earnings per Share	$0.27	$0.29	$0.01	$0.68	$0.94	$1.26	$1.21	$1.49	$1.76	$2.04
Weighted Average Diluted Shares Outstanding	17.03M	17.24M	34.71M	35.21M	36.00M	36.29M	36.96M	36.95M	37.48M	37.86M
Weighted Average Basic & Diluted Shares Outstanding	16.60M	16.80M	2.20M	17.20M	34.86M	35.58M	36.01M	36.31M	36.97M	37.77M

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

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

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

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

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	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	637	697	736	787	840	855	1,003
Total Current Assets	339	346	385	360	420	407	345
Cash & Equivalents	186	182	209	179	235	240	199
Short-Term Investments	51	51	61	61	56	32	6.93
Accounts Receivable	37	43	45	45	52	55	56
Other Current Assets	65	69	70	75	77	80	83
Plant, Property, & Equipment, net	33	35	35	36	35	35	36
Total Noncurrent Assets	265	315	315	391	385	413	623
Goodwill	166	199	203	252	249	269	424
Intangible Assets	71	85	78	104	99	108	168
Noncurrent Deferred & Refundable Income Taxes	0.22	3.37	6.68	6.81	7.48	7.35	0.41
Other Noncurrent Operating Assets	28	29	28	29	29	29	30
Total Liabilities & Shareholders' Equity	637	697	736	787	840	855	1,003
Total Liabilities	129	131	135	161	157	151	174
Total Current Liabilities	105	107	112	133	134	129	146
Accounts Payable	8.20	5.34	6.16	6.20	12	5.88	8.11
Accrued Expenses	5.20	8.16	6.71	8.90	11	9.45	8.97
Current Deferred Revenue	59	63	66	72	74	76	79
Current Employee Benefit Liabilities	29	26	29	41	33	32	46
Other Current Liabilities	4.34	4.12	4.07	4.45	4.48	4.59	4.36
Total Noncurrent Liabilities	24	24	23	28	23	23	28
Noncurrent Deferred Revenue	5.15	5.11	5.72	6.85	6.47	7.11	6.55
Noncurrent Deferred & Payable Income Tax Liabilities	4.84	6.98	5.81	10	7.54	7.01	12
Other Noncurrent Operating Liabilities	14	12	11	11	8.66	8.43	9.45
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	508	566	601	627	683	703	829
Total Preferred & Common Equity	508	566	601	627	683	703	829
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	508	566	601	627	683	703	829
Common Stock	463	490	509	520	558	575	612
Retained Earnings	177	209	223	240	277	295	319
Treasury Stock	-128	-129	-129	-129	-149	-162	-100
Accumulated Other Comprehensive Income / (Loss)	-4.66	-3.48	-1.84	-4.65	-3.23	-4.35	-1.19

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

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

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

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

Frequently Asked Questions About SPS Commerce's Financials

When does SPS Commerce's fiscal year end?

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

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 4/15/2025 by MarketBeat.com Staff

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SPS Commerce (SPSC) Financials

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SPS Commerce (SPSC) Financials

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