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SPS Commerce SPSC Gross margin

Gross margin at other companies

International Business Machines logo
International Business MachinesIBM
58.4%+1.3pp
Open Text logo
Open TextOTEX
73.1%+0.8pp
Salesforce logo
SalesforceCRM
77.6%+0.3pp
Symbotic Inc. logo
Symbotic Inc.SYM
20.6%+4.0pp
Teradata logo
TeradataTDC
60.1%+0.1pp
Ingram Micro logo
Ingram MicroINGM
6.6%-0.4pp

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%
Free cash flow$48.5M+43.3%

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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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.

Based on trailing twelve months.

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 gross margin?
SPS Commerce (SPSC) reported gross margin of 69.3% in Q1 2026.
How has SPS Commerce's gross margin changed year-over-year?
SPS Commerce's gross margin increased by 2.3% year-over-year, from 67.7% to 69.3%.
What is the long-term trend for SPS Commerce's gross margin?
Over 5 years (2020 to 2025), SPS Commerce's gross margin has grown at a 0.3% compound annual growth rate (CAGR), from 68.1% to 69.2%.
What does gross margin mean?
Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.