What are SPS Commerce's profit margins?

SPS Commerce (SPSC) runs a 69.3% gross margin and a 15.3% operating margin, with a 11.9% net margin.

Where do SPS Commerce's ratios come from?

Every ratio is computed from SPS Commerce's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

SPS Commerce SPSC Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Gross margin	69.2%+2.2pp	67%+0.9pp	66.1%0.0pp	66.1%+0.2pp
Operating margin	15.7%+1.8pp	13.9%-0.5pp	14.4%-1.4pp	15.8%+1.5pp
Net margin	12.4%+0.3pp	12.1%-0.2pp	12.3%0.0pp	12.2%+0.7pp
EBITDA margin	18.5%+1.7pp	16.9%-1.0pp	17.9%-1.6pp	19.4%+1.3pp
Free cash flow margin	20.3%-1.3pp	21.5%+0.6pp	21%+3.2pp	17.8%-6.4pp
Returns
Return on equity	10.2%+0.1pp	10.1%-0.8pp	10.9%+0.1pp	10.8%+0.9pp
Return on assets	8.5%+0.2pp	8.3%-0.5pp	8.8%+0.2pp	8.6%+0.7pp
Return on invested capital	12.2%-0.4pp	12.6%-1.3pp	13.9%-2.1pp	16%+0.4pp
Efficiency
Asset turnover	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×
Liquidity
Current ratio	2.2×-0.4×	2.6×-0.5×	3.1×+0.2×	2.9×-0.5×
Quick ratio	2.2×-0.4×	2.6×-0.5×	3.1×+0.2×	2.9×-0.5×
Cash ratio	1×-0.7×	1.6×0.0×	1.7×+0.2×	1.5×-0.5×
Leverage
Debt-to-equity	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Debt-to-assets	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Net debt / EBITDA	-1×+1.1×	-2.1×0.0×	-2.1×-0.5×	-1.7×+1.0×
Per Share
Book value per share	$25.63+13.5%	$22.58+26.8%	$17.81+22.5%	$14.53+10.9%
Valuation
Market capitalization	$3.36B-51.4%	$6.91B-3.2%	$7.14B+53.7%	$4.64B-9.7%
Enterprise value	$3.22B-51.9%	$6.68B-3.6%	$6.93B+54.2%	$4.5B-9.3%
Price / earnings	36×-53.7×	89.7×-18.8×	108.5×+24.2×	84.2×-31.1×
Price / sales	4.5×-6.4×	10.8×-2.5×	13.3×+3.0×	10.3×-3.1×
Price / book	3.5×-4.6×	8.1×-2.6×	10.7×+2.0×	8.6×-2.0×
EV / EBITDA	23.1×-39.0×	62.1×-10.2×	72.3×+21.0×	51.3×-19.6×
EV / sales	4.3×-6.2×	10.5×-2.4×	12.9×+2.9×	10×-2.9×
Free cash flow yield	4.5%+2.5pp	2%+0.4pp	1.6%-0.2pp	1.7%-0.1pp
Earnings yield	2.8%+1.7pp	1.1%+0.2pp	0.9%-0.3pp	1.2%+0.3pp
PEG ratio	1.7×-3.6×	5.3×-0.3×	5.6×+2.0×	3.6×—

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Questions, answered.

What are SPS Commerce's profit margins?: SPS Commerce (SPSC) runs a 69.3% gross margin and a 15.3% operating margin, with a 11.9% net margin.
Where do SPS Commerce's ratios come from?: Every ratio is computed from SPS Commerce's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.