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Company Analysis

SPS Commerce, Inc. SPSC

A comprehensive view of key metrics, scores, and financial health for SPS Commerce, Inc.

Overview of SPS Commerce, Inc.

SPSC NMS
Technology Software - Application Mid Cap
SPS Commerce, Inc. (SPSC), is a Mid Cap company, in the Software - Application industry, last closed at $60.55, about 42.7% undervalued vs fair value, -53.0% 1Y return, placing in the top 25% of its sector.
$60.55
-0.26%
As of March 13, 2026
Previous close • Vol 90d: 53.5%
52-Week Range
Market Cap
$2.38B
Enterprise Value
$2.24B
Overall Score
Scores locked

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Top Beats

Quick Facts

Website https://www.spscommerce.com
HQ Minneapolis, MN
Employees 2,948
Fiscal year Dec 31

Next Events

Earnings Apr 30 Estimated

Fair Value Snapshot

Bear Base Bull
$79
$86
$95
Current: $60.55 +43% vs base

Engine Room Money Flow™

Mid Cap

Corporate Free Cash Flow - Where revenue goes and how value is created

Flow Steps
Revenue
$751.5M
17.8%%
Gross Profit
$482.7M
13%%
Operating Income
$118.3M
33.1%%
Net Income
$93.3M
21.1%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Corporate Free Cash Flow

Quality & Reliability Indicators

Operating Cash Flow Margin
23.8%
Good

OCF / Revenue - cash profitability from operations

Locked Metric
-
Premium

Where It Leaks

Cash Flow Health healthy
Strong cash conversion with minimal leakage across profit-to-cash-to-value chain.
Analysis based on partial data. Some metrics unavailable for complete assessment.
0
Active Leaks
0/0
Improving
0
High Impact
0
Critical
Moat Analysis Corporate Default

Competitive Advantage Assessment

Evaluating SPS Commerce, Inc.'s durable competitive advantages across 6 defense dimensions

Overall Moat Strength
76
/100
Strong
Scores based on quantitative metrics and qualitative factors

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Pricing Power

Strong
78
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For informational purposes only. Not investment advice.

Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Software SaaS vs Industry Peers 70% Coverage
Trade-Off Triangle Visualization A ternary plot showing SPSC's balance between Growth (35.2%), Profitability (34.9%), and Safety (29.9%). Growth 35% Safety 30% Profitability 35%

Click axes to expand details. Marker shows current allocation.

3-Year Trend Analysis Locked
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Growth

68th percentile vs peers
68
Key Signals
Rev Growth YoY 17.8% 72p Revenue CAGR 3Y 18.6% 63p
Strengths
  • Operating Margin in top 20% of peers (15.7%, 80th percentile)
  • Cash To Debt Ratio in top 20% of peers (15.09, 86th percentile)
  • Consistently strong margins across 3 metrics
  • Strong liquidity position vs peers
Risks

No significant risks identified for this axis.

Profitability

67th percentile vs peers
68
Key Signals
Strengths
Risks
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Safety

57th percentile vs peers
58
Key Signals
Strengths
Safety drilldowns are available to premium members.

Two Futures

Scenario-based fair value ranges for SPS Commerce, Inc..

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Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

  • Recently listed companies (IPOs, SPACs)
  • Shell companies or holding companies
  • Companies that haven't filed recent financials
  • Foreign companies with limited data coverage
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Bear
-
- - -
- upside
-
Base
$86.41
- - -
+42.7% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
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