# SPS Commerce Inc. (SPSC) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Technology / Software. Price $85.25, market value $3.0 billion.

## Valuation
- **P/E (trailing): 38.1×** (5-yr avg 88.1×, 3-yr avg 78.9×). SPS Commerce Inc. trades at 38.1× trailing earnings, well below its own five-year average of 88.1×: cheap by its own standards. The Technology median in the September 2026 study was 32.1×. Forward P/E is 15.6×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.76**. A PEG of 0.76 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 3.9×**. Each dollar of revenue is priced at 3.9×.
- **Price / book: 3.3×**. The shares trade at 3.3× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: 6.7%** (5-yr avg 2.3%). Free cash flow equals 6.7% of the market value, above its five-year average of 2.3%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 2.6%**. The inverse of the P/E: 2.6% of the price is earned each year.

## Profitability
- **Gross margin: 70.2%**. SPS Commerce Inc. keeps 70.2% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 13.8%**. 13.8% of revenue is left after running the business.
- **Net margin: 12.4%**. 12.4% of each dollar of sales reaches the bottom line.
- **Return on equity: 9.6%**. 9.6% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on assets: 7.1%**. Each dollar of assets produces 7.1% of profit.

## Growth
- **Revenue growth (1 yr): 17.8%** (3-yr 18.6%/yr, 5-yr 19.2%/yr). Revenue grew 17.8% over the last year, against 19.2% a year compounded over five years.
- **EPS growth (1 yr): 20.6%** (3-yr 18.2%/yr, 5-yr 14.3%/yr). Earnings per share rose 20.6%, roughly in step with revenue.
- **Free-cash-flow growth (3 yr): 23.8%/yr**. Free cash flow has compounded at 23.8% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Current ratio: 2.17** (quick 2.17). Current assets cover the next year's liabilities 2.17 times.
- **Altman Z-score: 11.58**. A Z-score of 11.58 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. SPS Commerce Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: hold** (11 analysts). 11 analysts cover SPS Commerce Inc.; the consensus is hold, with an average price target of $83.73 (-2% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 3.5%** (YTD -4.5%, 3-mo 12.6%). The shares are up 3.5% over twelve months including dividends.
- **From 52-week high: -11.7%** (73.8% above the low). Trading 12% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 50**. An RSI of 50 is neutral.
- **Beta (1 yr): 0.45** (volatility 46%). Beta of 0.45 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=SPSC · Page: https://foliofundamentals.com/stocks/spsc

Not investment advice.