SPS Commerce, Inc. (SPSC) P/E Ratio History
Historical price-to-earnings valuation from 2010 to 2026
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SPSC Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 7, 2026, SPS Commerce, Inc. (SPSC) trades at a price-to-earnings ratio of 22.7x, with a stock price of $55.87 and trailing twelve-month earnings per share of $2.43.
The current P/E is 74% below its 5-year average of 86.6x. Over the past five years, SPSC's P/E has ranged from a low of 23.2x to a high of 130.1x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Technology sector median P/E of 27.5x, SPSC trades at a 17% discount to its sector peers. The sector includes 357 companies with P/E ratios ranging from 0.0x to 175.4x.
The PEG ratio of 1.59 (P/E divided by 21% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, SPSC trades roughly in line with the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our SPSC DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
SPSC P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $11B | 13.7Lowest | - | -3% | |
| $6B | 43.1 | - | -30% | |
| $6B | 25.5 | 0.90Best | +11% | |
| $558B | 44.7 | 6.30 | +17% | |
| $202B | 24.6 | 3.73 | +126%Best | |
| $8B | 38.3 | 1.78 | +3% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
SPSC Historical P/E Data (2010–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | $55.67 | $2.40 | 23.2x | -89% | |
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $89.13 | $2.45 | 36.4x | -82% |
| FY2025 Q3 | $104.14 | $2.23 | 46.7x | -77% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $136.09 | $2.18 | 62.4x | -70% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $132.73 | $2.14 | 62.0x | -70% |
| FY2024 Q4 | $183.99 | $2.04 | 90.2x | -56% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $194.17 | $2.09 | 92.9x | -55% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $188.16 | $1.92 | 98.0x | -52% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $184.90 | $1.83 | 101.0x | -51% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $193.84 | $1.76 | 110.1x | -46% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $170.61 | $1.68 | 101.6x | -51% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $192.06 | $1.66 | 115.7x | -44% |
Average P/E for displayed period: 205.7x
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Start ComparisonSPSC — Frequently Asked Questions
Quick answers to the most common questions about buying SPSC stock.
Is SPSC stock overvalued or undervalued?
SPSC trades at 22.7x P/E, below its 5-year average of 86.6x. At the N/A percentile of historical range, the stock is priced at a discount to its own history.
How does SPSC's valuation compare to peers?
SPS Commerce, Inc. P/E of 22.7x compares to sector median of 27.5x. The discount suggests lower growth expectations or higher risk.
What is SPSC's PEG ratio?
SPSC PEG ratio is 1.59. Between 1-2 suggests valuation aligns with growth. Historical P/E data spans 2010-2026.