Last 48 quarters of trend data · Technology · Vertical Industry Software
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 35.68 | 24.25 | 75.22 | 26.26 | 32.77 | 38.86 | 65.43 | 57.21 | 99.99 | 78.29 | 98.00 | 96.30 | 95.02 | 94.78 | 123.12 | 92.87 | 74.67 | 72.23 | 97.46 | 96.47 | 104.67 |
| — | -37.6% | +15.0% | -54.1% | -67.2% | -50.4% | -33.2% | -40.6% | +5.2% | -17.4% | -20.4% | +3.7% | +27.3% | +31.2% | +26.3% | -3.7% | -28.7% | -44.5% | +9.3% | +8.8% | +42.7% | |
| P/S Ratio | 3.85 | 3.78 | 2.68 | 2.71 | 4.37 | 5.21 | 6.92 | 6.98 | 10.19 | 11.27 | 11.54 | 11.65 | 12.58 | 11.82 | 13.78 | 11.24 | 9.73 | 10.01 | 9.54 | 11.53 | 12.87 |
| — | -27.5% | -61.3% | -61.1% | -57.1% | -53.8% | -40.1% | -40.1% | -19.0% | -4.6% | -16.2% | +3.6% | +29.3% | +18.0% | +44.4% | -2.5% | -24.4% | -34.3% | -1.7% | +14.0% | +7.5% | |
| P/B Ratio | 3.20 | 3.20 | 2.26 | 2.17 | 3.46 | 4.13 | 5.46 | 5.50 | 8.15 | 8.90 | 10.08 | 10.20 | 10.93 | 10.23 | 11.96 | 10.00 | 8.84 | 9.03 | 8.38 | 9.87 | 10.92 |
| — | -22.4% | -58.7% | -60.6% | -57.6% | -53.6% | -45.8% | -46.1% | -25.4% | -13.0% | -15.7% | +2.0% | +23.6% | +13.2% | +42.7% | +1.3% | -19.1% | -28.8% | +3.9% | +19.3% | +15.2% | |
| P/FCF | 14.84 | 12.76 | 9.21 | 10.75 | 22.02 | 18.13 | 50.52 | 37.43 | 50.70 | 38.35 | 72.70 | 57.06 | 64.02 | 42.03 | 60.85 | 86.42 | 67.51 | 33.73 | 36.42 | — | 48.43 |
| — | -29.6% | -81.8% | -71.3% | -56.6% | -52.7% | -30.5% | -34.4% | -20.8% | -8.7% | +19.5% | -34.0% | -5.2% | +24.6% | +67.1% | — | +39.4% | -54.6% | +9.5% | — | -11.6% | |
| EV / EBITDA | 14.84 | 12.72 | 10.28 | 12.19 | 16.09 | 20.81 | 31.05 | 31.54 | 45.13 | 49.03 | 52.49 | 69.02 | 54.46 | 53.75 | 69.45 | 54.47 | 42.17 | 41.13 | 44.37 | 51.10 | 59.15 |
| — | -38.9% | -66.9% | -61.3% | -64.3% | -57.6% | -40.8% | -54.3% | -17.1% | -8.8% | -24.4% | +26.7% | +29.1% | +30.7% | +56.5% | +6.6% | -28.7% | -44.3% | -0.2% | +11.5% | +14.9% | |
| EV / EBIT | 24.20 | 17.18 | 15.30 | 19.72 | 23.22 | 30.72 | 48.06 | 47.99 | 69.10 | 61.26 | 63.03 | 91.00 | 77.46 | 75.84 | 102.65 | 82.08 | 60.52 | 56.09 | 62.20 | 70.71 | 82.97 |
| — | -44.1% | -68.2% | -58.9% | -66.4% | -49.9% | -23.8% | -47.3% | -10.8% | -19.2% | -38.6% | +10.9% | +28.0% | +35.2% | +65.0% | +16.1% | -27.1% | -47.7% | -4.0% | +2.3% | +16.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.2% | 71.1% | 70.2% | 69.2% | 70.4% | 69.5% | 68.1% | 68.7% | 67.5% | 68.5% | 63.0% | 62.7% | 62.7% | 66.4% | 65.8% | 65.9% | 66.0% | 66.3% | 65.6% | 66.4% | 65.3% |
| — | +2.3% | +3.1% | +0.8% | +4.4% | +1.5% | +8.1% | +9.5% | +7.6% | +3.0% | -4.3% | -4.8% | -4.9% | +0.2% | +0.3% | -0.7% | +1.0% | +2.1% | -1.2% | -0.6% | -3.5% | |
| Operating Margin | 15.7% | 20.2% | 16.1% | 12.8% | 18.0% | 16.4% | 14.1% | 14.3% | 14.5% | 15.6% | 15.1% | 10.3% | 15.8% | 15.2% | 13.1% | 13.3% | 15.6% | 17.2% | 14.6% | 15.7% | 15.0% |
| — | +23.0% | +14.1% | -10.6% | +24.4% | +5.1% | -6.3% | +38.8% | -8.3% | +2.9% | +15.5% | -22.5% | +1.3% | -11.7% | -10.7% | -15.3% | +4.2% | +24.5% | +2.2% | +11.7% | -8.1% | |
| Net Margin | 12.4% | 15.5% | 3.5% | 10.3% | 13.4% | 13.5% | 10.5% | 12.2% | 10.3% | 14.3% | 11.7% | 12.0% | 13.1% | 12.4% | 11.3% | 12.1% | 13.0% | 13.9% | 9.8% | 12.0% | 12.4% |
| — | +15.3% | -67.0% | -16.0% | +30.6% | -6.1% | -10.3% | +1.6% | -21.7% | +15.4% | +4.3% | -0.9% | +0.5% | -10.4% | +14.3% | +1.4% | +5.0% | +18.5% | -8.6% | +5.8% | -23.2% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.2% | 3.3% | 0.7% | 2.0% | 2.7% | 2.7% | 2.1% | 2.5% | 2.1% | 3.1% | 2.6% | 2.7% | 2.9% | 2.7% | 2.5% | 2.8% | 3.0% | 3.2% | 2.2% | 2.6% | 2.7% |
| — | +22.4% | -65.8% | -18.5% | +28.2% | -12.5% | -18.9% | -6.2% | -29.0% | +11.6% | +3.4% | -3.8% | -3.6% | -13.1% | +15.7% | +7.3% | +13.9% | +27.6% | -4.4% | +9.1% | -19.0% | |
| ROA | 8.5% | 2.7% | 0.6% | 1.7% | 2.2% | 2.2% | 1.8% | 2.1% | 1.7% | 2.5% | 2.1% | 2.2% | 2.4% | 2.2% | 2.0% | 2.2% | 2.4% | 2.5% | 1.7% | 2.1% | 2.1% |
| — | +21.2% | -66.1% | -18.4% | +28.6% | -11.2% | -16.9% | -4.2% | -26.9% | +14.2% | +3.8% | -3.0% | -2.9% | -12.2% | +17.8% | +8.9% | +14.9% | +28.0% | -4.1% | +8.2% | -20.4% | |
| ROIC | 12.2% | 3.8% | 3.0% | 2.2% | 3.1% | 2.8% | 2.3% | 2.7% | 2.9% | 3.4% | 3.7% | 2.5% | 3.7% | 3.6% | 3.2% | 3.2% | 3.9% | 4.6% | 3.9% | 4.1% | 3.9% |
| — | +38.7% | +28.4% | -15.7% | +6.9% | -19.1% | -36.7% | +6.3% | -21.2% | -3.5% | +17.1% | -21.1% | -4.9% | -22.7% | -19.2% | -22.5% | +0.2% | +33.1% | +13.1% | +26.8% | -3.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 |
| — | -29.4% | -40.9% | -48.3% | -49.4% | -36.7% | -35.2% | -29.5% | -30.6% | -33.7% | -30.3% | -33.7% | -34.7% | -33.6% | -32.7% | -28.9% | -24.1% | -17.6% | -21.6% | -20.5% | -26.8% | |
| Debt / EBITDA | 0.04 | 0.12 | 0.13 | 0.17 | 0.14 | 0.21 | 0.26 | 0.31 | 0.33 | 0.36 | 0.38 | 0.53 | 0.43 | 0.52 | 0.60 | 0.64 | 0.63 | 0.68 | 0.83 | 0.86 | 0.95 |
| — | -43.3% | -49.5% | -46.3% | -57.0% | -41.7% | -30.2% | -41.2% | -22.5% | -30.5% | -37.2% | -17.4% | -32.0% | -24.2% | -27.6% | -25.8% | -33.5% | -35.1% | -24.5% | -25.8% | -26.7% | |
| Current Ratio | 2.17 | 2.25 | 2.26 | 2.12 | 2.17 | 1.97 | 1.82 | 1.64 | 2.60 | 2.36 | 3.17 | 3.13 | 3.07 | 2.71 | 3.44 | 3.24 | 2.92 | 3.22 | 3.61 | 3.72 | 3.43 |
| — | +14.3% | +24.1% | +29.3% | -16.6% | -16.3% | -42.5% | -47.6% | -15.3% | -13.0% | -7.9% | -3.3% | +5.3% | -15.8% | -4.8% | -13.0% | -14.8% | -11.0% | +2.2% | +4.6% | +17.6% | |
| Quick Ratio | 2.17 | 2.25 | 2.26 | 2.12 | 2.17 | 1.97 | 1.82 | 1.64 | 2.60 | 2.36 | 3.17 | 3.13 | 3.07 | 2.71 | 3.44 | 3.24 | 2.92 | 3.22 | 3.61 | 3.72 | 3.43 |
| — | +14.3% | +24.1% | +29.3% | -16.6% | -16.3% | -42.5% | -47.6% | -15.3% | -13.0% | -7.9% | -3.3% | +5.3% | -15.8% | -4.8% | -13.0% | -14.8% | -11.0% | +2.2% | +4.6% | +17.6% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | 17.93 | — | — | — | — | 28.33 | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying SPSC stock.
SPS Commerce, Inc.'s current P/E is 35.7x. The average P/E over the last 4 quarters is 39.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
SPS Commerce, Inc.'s current operating margin is 15.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking SPS Commerce, Inc.'s business trajectory between earnings reports.