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SPS Commerce SPSC Free cash flow

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Other financials

Income statement

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Revenue$192.1M+5.8%
Gross profit$132.9M+6.6%
Operating income$24.6M-5.4%
Net income$19.7M-11.1%
EPS (diluted)$0.53-8.6%

Balance sheet

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Cash & equivalents$154.3M+62.5%
Total debt$6.6M-46.0%
Total equity$962.2M+4.5%
Total assets$1.2B+4.7%

Cash flow

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Operating cash flow$55.6M+39.1%
CapEx$7.1M+16.1%

Valuation

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Market cap$2.01B-58.8%
Enterprise value$1.86B-61.1%
P/E22.1×-37.9×
P/S2.6×-4.6×

Profitability

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Gross margin69.3%+1.6pp
Operating margin15.3%+0.5pp
Net margin11.9%-0.2pp
FCF margin21.9%+0.9pp

Returns & leverage

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Return on equity9.7%-0.5pp
Debt / equity0.0×
Current ratio2.1×+0.5×

Where this comes from

Calculated from SPS Commerce’s reported figures.

The official record: SPS Commerce’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SPS Commerce's free cash flow?
SPS Commerce (SPSC) reported free cash flow of $48.49M in Q1 2026.
How has SPS Commerce's free cash flow changed year-over-year?
SPS Commerce's free cash flow increased by 43.3% year-over-year, from $33.83M to $48.49M.
What is the long-term trend for SPS Commerce's free cash flow?
Over 4 years (2021 to 2025), SPS Commerce's free cash flow has grown at a 13.0% compound annual growth rate (CAGR), from $93.31M to $152.27M.
What does free cash flow mean?
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.