SPSC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03

Price $82.35

Market Cap (MRQ) $2.98B

P/E (TTM) 39.6

EPS (TTM) $2.08

Revenue (TTM) $772M

ROE (TTM) 8.3%

52W Range $49–$115

SPSC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04

range

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Stock splits 1

Ex-date	Split	Type
Aug. 23, 2019	2-for-1	Forward

About SPS Commerce, Inc. - Common Stock Company overview from Wikipedia

05 · wikidata

SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.

## History

The company was founded in 1987 (1987), under the name St. Paul Software. In 2000, the company sold its software business to Netherlands-based TIE Commerce. After the sale, the company primarily offered internet-based business-to-business (B2B) exchanges for retailers and manufacturers. St. Paul Software was renamed SPS Commerce in May 2001. SPS Commerce went public in April 2010 when it debuted on the NASDAQ global market.

Acquisitions:

2011: acquired San Diego–based EDI services company Direct EDI for $10.9 million, adding 40 employees in a San Diego office and a development group in Ukraine.

2012: purchased New Jersey–based data analytics firm Edifice for $26M

2014: $14.9M acquisition of LeadTec, an EDI provider headquartered in Melbourne, Australia.

2016: $23M acquisition of ToolBox Solutions

2018: $23M acquisition of CovalentWorks

2019: $11.5M acquisition of long-term technology partner MAPADOC

2020: $100M acquisition of Data Masons

2021: $17M acquisition of Genius Central

2022: $45M acquisition of GCommerce

2022: $49M acquisition of InterTrade

2023: €64.5M acquisition of TIE Kinetix

2024: $25M acquisition of Traverse Systems

2024: $206M acquisition of SupplyPike

2025: $210M acquisition of Carbon6

In December 2025, activist investor Anson Funds Management disclosed a stake in SPS Commerce and pushed the company to explore a sale and consider management changes, arguing the stock price lagged competitors by 40% to 60%.

== References ==

10-Year Performance Revenue, net income, margins and EPS trends

06

Revenue$752M

2016-12-31 → 2025-12-31

EPS$2.46

2016-12-31 → 2025-12-31

Free Cash Flow$152M

2016-12-31 → 2025-12-31

Net margin10.1%

2016-12-31 → 2025-12-31

Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric	SPSC	5Y avg	Peer Median	Verdict
P/E (TTM)	39.65Y avg ≈88.1	≈88.1	31.8	Fair value
P/S (TTM)	3.95Y avg ≈10.4	≈10.4	3.1	Undervalued
P/B (MRQ)	3.25Y avg ≈8.3	≈8.3	3.0	Undervalued
Price / FCF (TTM)	15.05Y avg ≈49.7	≈49.7	·	·
Price / Cash Flow (TTM)	13.15Y avg ≈41.7	≈41.7	17.6	Fair value
Price / Tangible Book (MRQ)	3.95Y avg ≈20.1	≈20.1	·	·
PEG Ratio	≈2.8	·	·	·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric	SPSC	5Y avg	Peer Median	Verdict
Gross Margin (TTM)	69.8%5Y avg ≈66.8%	≈66.8%	75.8%	Weak
Operating Margin (TTM)	12.8%5Y avg ≈14.8%	≈14.8%	4.2%	In line
EBITDA Margin (TTM)	15.8%5Y avg ≈18.2%	≈18.2%	4.2%	In line
Pretax Margin (TTM)	13.6%5Y avg ≈15.5%	≈15.5%	5.3%	In line
Net Profit Margin (TTM)	10.1%5Y avg ≈12.1%	≈12.1%	3.5%	In line
ROA (TTM)	6.9%5Y avg ≈8.4%	≈8.4%	5.8%	Top tier
ROE (TTM)	8.3%5Y avg ≈9.8%	≈9.8%	12.8%	Below avg
ROIC	9.2%5Y avg ≈9.2%	≈9.2%	7.6%	Top tier

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric	5Y trend	SPSC	5Y avg	Peer Median	Verdict
Current Ratio (MRQ)		2.35Y avg ≈2.8	≈2.8	2.1	In line
Quick Ratio		1.45Y avg ≈2.2	≈2.2	1.8	In line

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric	SPSC	5Y avg	Peer Median	Verdict
Revenue YoY	17.8%5Y avg ≈19.2%	≈19.2%	·	·
Revenue CAGR 3Y	18.6%5Y avg ≈18.9%	≈18.9%	·	·
Revenue CAGR 5Y	19.2%	·	·	·
EPS YoY	20.6%5Y avg ≈14.8%	≈14.8%	·	·
Net Income YoY	21.1%5Y avg ≈15.8%	≈15.8%	·	·
EPS CAGR 3Y	18.2%5Y avg ≈16.3%	≈16.3%	·	·
EPS CAGR 5Y	14.3%	·	·	·
Net Income CAGR 3Y	19.2%5Y avg ≈17.4%	≈17.4%	·	·
Net Income CAGR 5Y	15.4%	·	·	·

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric	SPSC	5Y avg	Peer Median	Verdict
EPS (Diluted)	$2.465Y avg ≈$1.79	≈$1.79	·	·
Revenue / Share	$19.785Y avg ≈$14.72	≈$14.72	·	·
Cash Flow / Share	$4.715Y avg ≈$3.63	≈$3.63	·	·
Cash / Share	$4.035Y avg ≈$5.33	≈$5.33	·	·

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric	SPSC	5Y avg	Peer Median	Verdict
Asset Turnover	0.75Y avg ≈0.7	≈0.7	0.6	Top tier
Receivables Turnover	12.55Y avg ≈12.3	≈12.3	6.1	Top tier
Revenue / Employee	≈$254.9K	·	·	·

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14

Avg Surprise 11.0%

Next Report Oct 28, 2026

Period	Report	EPS Actual	EPS Est	Surprise
June 30, 2026	Jul 28, 2026	$1.27	$1.12	13.8%
March 31, 2026		$1.10	$1.00	10.3%
Dec. 31, 2025		$1.10	$1.03	7.0%
Sept. 30, 2025		$1.13	$1.02	11.1%
June 30, 2025		$1.00	$0.92	8.2%
March 31, 2025		$1.00	$0.86	15.7%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15

Income Statement 17

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	$752M	$638M	$537M	$451M	$385M	$313M	$279M	$248M	$220M	$193M	$159M	$128M
Cost of Revenue	$232M	$211M	$182M	$153M	$132M	$100M	$92M	$82M	$74M	$64M	$50M	$40M
Gross Profit	$520M	$427M	$355M	$298M	$254M	$213M	$187M	$166M	$146M	$129M	$108M	$88M
R&D Expense	$69M	$63M	$54M	$46M	$39M	$31M	$28M	$22M	$23M	$22M	$18M	$13M
SG&A Expense	$127M	$103M	$85M	$67M	$61M	$50M	$45M	$42M	$37M	$29M	$25M	$20M
Operating Expenses	$402M	$338M	$278M	$227M	$199M	$163M	$148M	$140M	$136M	$122M	$101M	$84M
Operating Income	$118M	$89M	$77M	$71M	$55M	$50M	$38M	$27M	$10M	$6M	$7M	$4M
Interest Income	·	·	·	·	·	·	·	·	·	·	·	$187.0K
Other Non-op	$495.0K	$-104.0K	$-1M	$-502.0K	$-366.0K	$-354.0K	$1M	$-626.0K	$-320.0K	$732.0K	$-145.0K	$-458.0K
Pretax Income	$124M	$99M	$86M	$71M	$54M	$53M	$42M	$28M	$11M	$8M	$7M	$4M
Income Tax	$30M	$22M	$20M	$16M	$9M	$7M	$8M	$4M	$10M	$3M	$2M	$1M
Net Income	$93M	$77M	$66M	$55M	$45M	$46M	$34M	$24M	$351.0K	$5M	$5M	$3M
EPS (Basic)	$2.46	$2.07	$1.80	$1.53	$1.24	$1.29	$0.96	$0.69	$0.01	$0.29	$0.28	$0.17
EPS (Diluted)	$2.46	$2.04	$1.76	$1.49	$1.21	$1.26	$0.94	$0.68	$0.01	$0.29	$0.27	$0.16
Shares (Basic)	37,881,000	37,306,000	36,646,000	36,117,000	35,928,000	35,226,000	35,024,000	34,392,000	34,366,000	16,947,000	16,565,000	16,236,000
Shares (Diluted)	37,992,000	37,856,000	37,475,000	36,953,000	36,962,000	36,285,000	36,002,000	35,212,000	34,712,000	17,241,000	17,032,000	16,814,000
EBITDA	$139M	$108M	$96M	$88M	$70M	$63M	$50M	$35M	$16M	$14M	$13M	$10M

Balance Sheet 26

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Cash & Equivalents	$151M	$241M	$219M	$163M	$208M	$150M	$179M	$134M	$123M	$116M	$122M	$131M
Short-term Investments	·	$0	$56M	$51M	$50M	$38M	$34M	$45M	$40M	$23M	$8M	·
Receivables	$68M	$52M	$47M	$39M	$35M	$34M	$32M	$27M	$25M	$21M	$18M	$15M
Other Current Assets	$49M	$24M	$17M	$16M	$16M	$12M	$11M	$9M	$6M	$7M	$5M	$4M
Current Assets	$335M	$382M	$401M	$323M	$352M	$271M	$292M	$250M	$224M	$186M	$167M	$162M
PP&E (Net)	$43M	$38M	$36M	$35M	$32M	$26M	$24M	$21M	$17M	$15M	$14M	$11M
PP&E (Gross)	$145M	$125M	$121M	$108M	$102M	$86M	$74M	$62M	$51M	$44M	$39M	$32M
Accum. Depreciation	$101M	$88M	$85M	$72M	$70M	$59M	$51M	$41M	$34M	$29M	$25M	$20M
Goodwill	$542M	$399M	$249M	$197M	$144M	$135M	$77M	$70M	$52M	$50M	$34M	$35M
Intangibles	$216M	$181M	$107M	$88M	$59M	$60M	$23M	$23M	$17M	$20M	$15M	$19M
Other Non-current Assets	$8M	$2M	$1M	$2M	$3M	$3M	$3M	$2M	$2M	$2M	$1M	$213.0K
Total Assets	$1.17B	$1.03B	$824M	$673M	$616M	$526M	$447M	$386M	$340M	$298M	$262M	$244M
Accounts Payable	$14M	$9M	$7M	$11M	$8M	$5M	$4M	$4M	$4M	$2M	$2M	$4M
Accrued Liabilities	$13M	$12M	$8M	$7M	$8M	$11M	$6M	$5M	$5M	$4M	$2M	$2M
Current Liabilities	$154M	$147M	$131M	$111M	$103M	$80M	$68M	$57M	$44M	$32M	$24M	$25M
Capital Leases	$3M	$8M	$10M	$13M	$16M	$20M	$20M	·	·	·	·	·
Deferred Tax	$33M	$16M	$9M	$7M	$7M	$3M	$1M	$1M	$2M	$2M	·	$41.0K
Other Non-current Liabilities	$287.0K	$241.0K	$229.0K	$0	·	·	$405.0K	$1M	·	·	·	·
Total Liabilities	$196M	$177M	$156M	$136M	$132M	$106M	$93M	$67M	$52M	$49M	$40M	$39M
Common Stock	$40.0K	$40.0K	$39.0K	$38.0K	$38.0K	$37.0K	$36.0K	$36.0K	$17.0K	$17.0K	$17.0K	$16.0K
Retained Earnings	$429M	$336M	$259M	$193M	$138M	$93M	$49M	$15M	$-9M	$-34M	$-39M	$-44M
Treasury Stock	$178M	$100M	$129M	$129M	$86M	$65M	$46M	$26M	$6M	·	·	·
AOCI	$-373.0K	$-10M	$222.0K	$-3M	$-1M	$-1M	$-2M	$-3M	$657.0K	$-3M	$-4M	$-1M
Stockholders' Equity	$974M	$855M	$667M	$537M	$484M	$421M	$355M	$319M	$288M	$258M	$231M	$205M
Liabilities + Equity	$1.17B	$1.03B	$824M	$673M	$616M	$526M	$447M	$386M	$340M	$298M	$262M	$244M
Shares Outstanding	37,517,239	37,661,308	36,820,048	36,158,046	36,009,257	35,487,217	34,863,271	34,691,472	17,127,006	17,081,145	16,723,994	16,348,747

Cash Flow 14

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
D&A	$21M	$19M	$19M	$16M	$15M	$13M	$11M	$9M	$7M	$7M	$6M	$6M
Stock-based Comp	$54M	$55M	$46M	$33M	$28M	$19M	$15M	$13M	$13M	$8M	$6M	$5M
Deferred Tax	$19M	$-10M	$-10M	$-4M	$4M	$4M	$8M	$3M	$10M	$-2M	$-38.0K	$1M
Amort. of Intangibles	$37M	$24M	$16M	$12M	$10M	$6M	$5M	$4M	$5M	$5M	$3M	$3M
Other Non-cash	$-8M	$17M	$12M	$-1M	$22M	$7M	$5M	$7M	$3M	$132.0K	$-3M	$2M
Operating Cash Flow	$179M	$157M	$132M	$100M	$113M	$89M	$72M	$55M	$31M	$19M	$14M	$17M
CapEx	$27M	$20M	$20M	$20M	$20M	$16M	$14M	$14M	$7M	$8M	$9M	$8M
Investing Cash Flow	$-169M	$-110M	$-93M	$-113M	$-47M	$-120M	$-14M	$-40M	$-23M	$-34M	·	·
Stock Repurchased	$114M	$38M	$0	$43M	$20M	$19M	$21M	$20M	$6M	·	·	·
Net Stock Activity	$-114M	$-38M	$0	$-43M	$-20M	$-19M	$-21M	$-20M	$-6M	·	·	·
Financing Cash Flow	$-101M	$-23M	$16M	$-32M	$-8M	$2M	$-12M	$-4M	$-2M	$10M	·	·
Net Change in Cash	$-90M	$22M	$56M	$-45M	$58M	$-30M	$45M	$11M	$7M	$-6M	$-9M	$-499.0K
Taxes Paid	$29M	$27M	$29M	$16M	$10M	$2M	$2M	$2M	$1M	$722.0K	$114.0K	·
Free Cash Flow	$152M	$137M	$113M	$80M	$93M	$72M	$58M	$41M	$24M	$11M	$6M	$9M

Profitability 8

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Gross Margin	69.2%	67.0%	66.1%	66.0%	65.8%	68.1%	67.0%	67.1%	66.6%	66.7%	68.4%	68.7%
Operating Margin	15.7%	13.9%	14.4%	15.8%	14.3%	16.0%	13.8%	10.8%	3.8%	3.9%	4.4%	3.4%
Net Margin	12.4%	12.1%	12.3%	12.2%	11.6%	14.6%	12.1%	9.6%	-1.1%	2.9%	2.9%	2.1%
Pretax Margin	16.5%	15.6%	15.9%	15.8%	13.9%	16.9%	15.1%	11.4%	4.1%	4.6%	4.5%	3.2%
EBITDA Margin	18.6%	16.9%	17.9%	19.4%	18.1%	20.2%	17.7%	14.2%	7.1%	7.3%	8.4%	7.9%
ROA	8.5%	8.3%	8.8%	8.6%	7.8%	9.4%	8.1%	6.6%	-0.77%	2.0%	1.8%	1.2%
ROE	9.7%	9.2%	10.2%	10.5%	9.3%	11.2%	9.6%	7.6%	-0.91%	2.4%	2.2%	1.4%
ROIC	9.2%	8.1%	8.9%	10.2%	9.5%	10.3%	8.7%	7.1%	-0.81%	1.9%	2.1%	1.4%

Liquidity & Solvency 2

Metric	Trend	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Current Ratio		2.2	2.6	3.1	2.9	3.4	3.4	4.3	4.4	5.1	5.8	6.9	6.6
Quick Ratio		1.4	2.0	2.5	2.3	2.8	2.8	3.6	3.6	4.4	5.0	6.1	6.0

Efficiency 2

Metric	Trend	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Asset Turnover		0.7	0.7	0.7	0.7	0.7	0.6	0.7	0.7	0.7	0.7	0.6	0.5
Receivables Turnover		12.5	12.9	12.4	12.2	11.3	9.6	9.5	9.5	9.7	10.1	9.6	9.5

Per Share 5

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Book Value / Share	$25.96	$22.69	$18.13	$14.85	$13.45	$11.86	$10.18	$18.39	$16.16	$14.59	$13.29	$12.54
Revenue / Share	$19.78	$16.85	$14.33	$12.20	$10.42	$8.62	$7.75	$14.10	$12.84	$11.21	$9.31	$7.61
Cash Flow / Share	$4.71	$4.16	$3.53	$2.71	$3.05	$2.44	$1.99	$3.12	$1.81	$1.09	$0.85	$1.00
Cash / Share	$4.03	$6.40	$5.95	$4.50	$5.76	$4.22	$5.14	$7.72	$7.19	$6.78	$7.27	$8.00
EPS (TTM)	$2.46	$2.04	$1.76	$1.49	$1.21	$1.26	$0.94	$0.68	$0.01	$0.29	$0.27	$0.16

Growth Rates 9

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue YoY	17.8%	18.8%	19.1%	17.0%	23.2%	·	·	·	·	·	·	·
Revenue CAGR 3Y	18.6%	18.3%	19.8%	·	·	·	·	·	·	·	·	·
Revenue CAGR 5Y	19.2%	·	·	·	·	·	·	·	·	·	·	·
EPS YoY	20.6%	15.9%	18.1%	23.1%	-4.0%	·	·	·	·	·	·	·
EPS CAGR 3Y	18.2%	19.0%	11.8%	·	·	·	·	·	·	·	·	·
EPS CAGR 5Y	14.3%	·	·	·	·	·	·	·	·	·	·	·
Net Income YoY	21.1%	17.1%	19.4%	23.6%	-2.2%	·	·	·	·	·	·	·
Net Income CAGR 3Y	19.2%	20.0%	13.0%	·	·	·	·	·	·	·	·	·
Net Income CAGR 5Y	15.4%	·	·	·	·	·	·	·	·	·	·	·

Valuation (TTM) 10

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue TTM	$752M	$638M	$537M	$451M	$385M	$313M	$279M	$248M	$220M	$193M	$159M	$128M
Net Income TTM	$93M	$77M	$66M	$55M	$45M	$46M	$34M	$24M	$351.0K	$5M	$5M	$3M
Market Cap	$3.34B	$6.93B	$7.14B	$4.64B	$5.13B	$3.85B	$1.93B	$714M	$416M	$597M	$587M	$463M
P/E	36.2	90.2	110.1	86.2	117.6	86.2	59.0	60.6	2429.5	120.5	130.0	177.0
P/S	4.4	10.9	13.3	10.3	13.3	12.3	6.9	2.9	1.9	3.1	3.7	3.6
P/B	3.4	8.1	10.7	8.6	10.6	9.2	5.4	2.2	1.5	2.4	2.6	2.3
P / Tangible Book	15.5	25.3	23.0	18.5	18.2	17.1	·	·	·	·	·	·
P / Cash Flow	18.7	44.0	53.9	46.4	45.4	43.5	26.9	13.0	13.4	31.8	40.7	27.6
P / FCF	22.0	50.4	63.4	57.9	54.9	53.5	33.2	17.3	17.5	55.5	103.5	50.3
Earnings Yield	2.8%	1.1%	0.91%	1.2%	0.85%	1.2%	1.7%	1.7%	0.04%	0.83%	0.77%	0.57%

Income Statement 16

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue	$198M	$192M	$193M	$190M	$187M	$182M	$171M	$164M	$154M	$150M	$145M	$136M	$130M	$126M	$122M	$114M
Cost of Revenue	$59M	$59M	$57M	$58M	$60M	$57M	$56M	$52M	$52M	$51M	$49M	$46M	$45M	$43M	$42M	$39M
Gross Profit	$139M	$133M	$136M	$132M	$128M	$125M	$115M	$112M	$102M	$98M	$96M	$90M	$86M	$83M	$80M	$76M
R&D Expense	$17M	$18M	$17M	$17M	$17M	$17M	$17M	$15M	$14M	$16M	$14M	$14M	$13M	$13M	$12M	$11M
SG&A Expense	$37M	$36M	$33M	$32M	$31M	$31M	$26M	$27M	$24M	$26M	$21M	$22M	$22M	$21M	$18M	$17M
Operating Expenses	$130M	$108M	$101M	$101M	$101M	$99M	$91M	$86M	$78M	$83M	$73M	$70M	$69M	$66M	$61M	$56M
Operating Income	$8M	$25M	$35M	$31M	$26M	$26M	$25M	$26M	$23M	$15M	$23M	$21M	$17M	$17M	$19M	$20M
Other Non-op	$385.0K	$134.0K	$546.0K	$-21.0K	$-22.0K	$-8.0K	$-57.0K	$-3.0K	$7.0K	$-51.0K	$-33.0K	$-1M	$-19.0K	$12.0K	$-96.0K	$-130.0K
Pretax Income	$10M	$26M	$36M	$32M	$27M	$28M	$24M	$29M	$27M	$19M	$26M	$22M	$19M	$18M	$21M	$19M
Income Tax	$4M	$6M	$10M	$7M	$8M	$6M	$7M	$6M	$9M	$532.0K	$7M	$5M	$4M	$3M	$5M	$3M
Net Income	$7M	$20M	$26M	$26M	$20M	$22M	$18M	$23M	$18M	$18M	$19M	$17M	$15M	$15M	$16M	$16M
EPS (Basic)	$0.19	$0.53	$0.69	$0.67	$0.52	$0.58	$0.46	$0.63	$0.49	$0.49	$0.52	$0.46	$0.40	$0.42	$0.44	$0.44
EPS (Diluted)	$0.19	$0.53	$0.69	$0.67	$0.52	$0.58	$0.46	$0.62	$0.48	$0.48	$0.51	$0.45	$0.39	$0.41	$0.43	$0.43
Shares (Basic)	36,533,000	37,379,000	·	37,895,000	37,965,000	37,990,000	·	37,447,000	37,078,000	37,049,000	·	36,728,000	36,593,000	36,427,000	·	36,093,000
Shares (Diluted)	36,577,000	37,442,000	·	37,993,000	38,099,000	38,163,000	·	37,996,000	37,683,000	37,686,000	·	37,584,000	37,426,000	37,155,000	·	36,915,000
EBITDA	$8M	·	·	$31M	$26M	$31M	·	$26M	$23M	$20M	·	$21M	$17M	$21M	·	$20M

Balance Sheet 26

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Cash & Equivalents	$173M	$154M	$151M	$134M	$108M	$95M	$241M	$199M	$240M	$235M	·	$179M	$209M	$182M	·	$186M
Short-term Investments	·	·	·	·	·	·	·	$7M	$32M	$56M	·	$61M	$61M	$51M	·	$51M
Receivables	$64M	$65M	$68M	$67M	$68M	$63M	$52M	$56M	$55M	$52M	·	$45M	$45M	$43M	·	$37M
Other Current Assets	$30M	$43M	$49M	$48M	$27M	$26M	$24M	$19M	$15M	$14M	·	$16M	$14M	$16M	·	$15M
Current Assets	$330M	$329M	$335M	$316M	$269M	$252M	$382M	$345M	$407M	$420M	·	$360M	$385M	$346M	·	$339M
PP&E (Net)	$44M	$46M	$43M	$41M	$40M	$39M	$38M	$36M	$35M	$35M	·	$36M	$35M	$35M	·	$33M
PP&E (Gross)	$155M	$153M	$145M	$137M	$135M	$131M	$125M	$132M	$126M	$124M	·	$118M	$113M	$112M	·	$111M
Accum. Depreciation	$111M	$107M	$101M	$96M	$95M	$92M	$88M	$96M	$91M	$89M	·	$82M	$78M	$77M	·	$78M
Goodwill	$539M	$541M	$542M	$543M	$544M	$534M	$399M	$424M	$269M	$249M	·	$252M	$203M	$199M	·	$166M
Intangibles	$172M	$206M	$216M	$225M	$237M	$252M	$181M	$168M	$108M	$99M	·	$104M	$78M	$85M	·	$71M
Other Non-current Assets	$13M	$14M	$8M	$5M	$2M	$2M	$2M	$1M	$1M	$1M	·	$1M	$1M	$2M	·	$2M
Total Assets	$1.13B	$1.16B	$1.17B	$1.16B	$1.12B	$1.11B	$1.03B	$1.00B	$855M	$840M	·	$787M	$736M	$697M	·	$637M
Accounts Payable	$9M	$14M	$14M	$13M	$12M	$11M	$9M	$8M	$6M	$12M	·	$6M	$6M	$5M	·	$8M
Accrued Liabilities	$15M	$16M	$13M	$12M	$13M	$17M	$12M	$9M	$9M	$11M	·	$9M	$7M	$8M	·	$5M
Current Liabilities	$146M	$155M	$154M	$160M	$148M	$153M	$147M	$146M	$129M	$134M	·	$133M	$112M	$107M	·	$105M
Capital Leases	$5M	$5M	$3M	$4M	$5M	$6M	$8M	$9M	$8M	$8M	·	$11M	$11M	$12M	·	$14M
Deferred Tax	$31M	$34M	$33M	$30M	$13M	$20M	$16M	$12M	$7M	$8M	·	$10M	$6M	$7M	·	$5M
Other Non-current Liabilities	$271.0K	$279.0K	$287.0K	$299.0K	$296.0K	$3M	$241.0K	$640.0K	$680.0K	$232.0K	·	·	·	·	·	·
Total Liabilities	$187M	$199M	$196M	$200M	$171M	$188M	$177M	$174M	$151M	$157M	·	$161M	$135M	$131M	·	$129M
Common Stock	$40.0K	$40.0K	$40.0K	$40.0K	$40.0K	$40.0K	$40.0K	$39.0K	$39.0K	$39.0K	·	$39.0K	$39.0K	$39.0K	·	$38.0K
Retained Earnings	$456M	$449M	$429M	$404M	$378M	$358M	$336M	$319M	$295M	$277M	·	$240M	$223M	$209M	·	$177M
Treasury Stock	$277M	$227M	$178M	$152M	$122M	$102M	$100M	$100M	$162M	$149M	·	$129M	$129M	$129M	·	$128M
AOCI	$-4M	$-2M	$-373.0K	$-919.0K	$695.0K	$-7M	$-10M	$-1M	$-4M	$-3M	·	$-5M	$-2M	$-3M	·	$-5M
Stockholders' Equity	$938M	$962M	$974M	$959M	$950M	$921M	$855M	$829M	$703M	$683M	$667M	$627M	$601M	$566M	$537M	$508M
Liabilities + Equity	$1.13B	$1.16B	$1.17B	$1.16B	$1.12B	$1.11B	$1.03B	$1.00B	$855M	$840M	·	$787M	$736M	$697M	·	$637M
Shares Outstanding	36,194,528	36,948,282	37,517,239	37,732,760	37,927,432	38,001,227	37,661,308	37,566,443	37,086,627	37,049,001	36,820,048	36,695,930	36,646,819	36,532,756	36,158,046	36,037,964

Cash Flow 13

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
D&A	$6M	$6M	$6M	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$4M	$4M
Stock-based Comp	$19M	$18M	$10M	$14M	$15M	$14M	$12M	$11M	$11M	$20M	$9M	$11M	$13M	$12M	$8M	$8M
Deferred Tax	$-5M	$713.0K	$6M	$18M	$-1M	$-4M	$132.0K	$-2M	$-1M	$-7M	$2M	$-3M	$-4M	$-5M	$-2M	$68.0K
Amort. of Intangibles	$9M	$9M	$10M	$9M	$10M	$9M	$8M	$6M	$5M	$4M	$5M	$4M	$3M	$4M	$4M	$3M
Other Non-cash	·	·	·	·	·	$3M	·	·	·	$-2M	·	·	·	$-5M	·	·
Operating Cash Flow	$66M	$56M	$46M	$61M	$32M	$40M	$41M	$53M	$29M	$34M	$33M	$44M	$34M	$22M	$24M	$40M
CapEx	$9M	$7M	$8M	$6M	$7M	$6M	$6M	$5M	$5M	$4M	$4M	$6M	$5M	$5M	$6M	$6M
Investing Cash Flow	$170.0K	$-7M	$-8M	$-6M	$-8M	$-148M	$-227.0K	$-98M	$-9M	$-3M	$806.0K	$-75M	$-14M	$-5M	$-52M	$-55M
Stock Repurchased	$51M	$47M	$25M	$30M	$20M	$40M	$0	$84.0K	$21M	$17M	$0	$0	$0	$0	$515.0K	$12M
Net Stock Activity	·	·	·	·	·	$-40M	·	·	·	$-17M	·	·	·	$0	·	·
Financing Cash Flow	$-47M	$-46M	$-21M	$-28M	$-13M	$-39M	$5M	$2M	$-15M	$-15M	$6M	$1M	$7M	$2M	$5M	$-10M
Net Change in Cash	$19M	$3M	$18M	$26M	$13M	$-146M	$42M	$-41M	$6M	$16M	$40M	$-31M	$27M	$19M	$-23M	$-26M
Free Cash Flow	·	·	·	·	·	$34M	·	·	·	$31M	·	·	·	$16M	·	·

Profitability 8

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Gross Margin	70.2%	·	·	69.5%	68.1%	68.7%	·	68.5%	66.1%	65.6%	·	66.5%	65.8%	65.9%	·	66.3%
Operating Margin	4.2%	·	·	16.4%	14.1%	14.3%	·	15.6%	15.1%	10.3%	·	15.2%	13.1%	13.3%	·	17.2%
Net Margin	3.5%	·	·	13.5%	10.5%	12.2%	·	14.3%	11.7%	12.0%	·	12.4%	11.3%	12.2%	·	13.9%
Pretax Margin	5.3%	·	·	17.1%	14.5%	15.5%	·	17.9%	17.7%	12.4%	·	16.4%	14.5%	14.3%	·	16.6%
EBITDA Margin	4.2%	·	·	16.4%	14.1%	17.0%	·	15.6%	15.1%	13.4%	·	15.2%	13.1%	17.0%	·	17.2%
ROA	0.61%	·	·	2.4%	2.0%	2.3%	·	2.6%	2.3%	2.3%	·	2.4%	2.2%	2.3%	·	2.6%
ROE	0.73%	·	·	2.9%	2.4%	2.8%	·	3.2%	2.8%	2.9%	·	3.0%	2.7%	2.9%	·	3.2%
ROIC	0.59%	·	·	2.6%	2.0%	2.2%	·	2.5%	2.2%	2.2%	·	2.5%	2.2%	2.5%	·	3.2%

Liquidity & Solvency 2

Metric	Trend	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Current Ratio		2.3	·	·	2.0	1.8	1.6	·	2.4	3.2	3.1	·	2.7	3.4	3.2	·	3.2
Quick Ratio		1.6	·	·	1.3	1.2	1.0	·	1.8	2.5	2.6	·	2.1	2.8	2.6	·	2.6

Efficiency 2

Metric	Trend	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Asset Turnover		0.2	·	·	0.2	0.2	0.2	·	0.2	0.2	0.2	·	0.2	0.2	0.2	·	0.2
Receivables Turnover		3.0	·	·	3.1	3.0	3.1	·	3.3	3.1	3.1	·	3.3	3.1	3.1	·	3.2

Per Share 5

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Book Value / Share	$25.93	·	·	$25.41	$25.04	$24.23	·	$22.08	$18.97	$18.43	·	$17.08	$16.40	$15.49	·	$14.09
Revenue / Share	$5.41	·	·	$5.00	$4.92	$4.76	·	$4.31	$4.08	$3.97	·	$3.61	$3.48	$3.39	·	$3.10
Cash Flow / Share	·	·	·	·	·	$1.05	·	·	·	$0.90	·	·	·	$0.58	·	·
Cash / Share	$4.78	·	·	$3.54	$2.84	$2.50	·	$5.29	$6.48	$6.33	·	$4.87	$5.71	$4.99	·	$5.17
EPS (TTM)	$2.08	$2.30	·	$2.23	$2.18	$2.14	·	$2.09	$1.92	$1.83	·	$1.68	$1.66	$1.56	·	$1.40

Valuation (TTM) 9

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue TTM	$772M	$751M	·	$730M	$704M	$670M	·	$612M	$584M	$561M	·	$514M	$493M	$472M	·	$432M
Net Income TTM	$78M	$87M	·	$85M	$83M	$81M	·	$79M	$72M	$69M	·	$63M	$62M	$58M	·	$52M
Market Cap	$2.07B	·	·	$3.93B	$5.16B	$5.04B	·	$7.29B	$6.98B	$6.85B	·	$6.26B	$7.04B	$5.56B	·	$4.48B
P/E	27.5	24.2	·	46.7	62.4	62.0	·	92.9	98.0	101.0	·	101.6	115.7	97.6	·	88.7
P/S	2.7	·	·	5.4	7.3	7.5	·	11.9	12.0	12.2	·	12.2	14.3	11.8	·	10.4
P/B	2.2	·	·	4.1	5.4	5.5	·	8.8	9.9	10.0	·	10.0	11.7	9.8	·	8.8
P / Tangible Book	9.1	9.6	·	20.6	30.5	37.4	·	30.7	21.3	20.5	·	23.1	22.0	19.7	·	16.5
P / Cash Flow	·	·	·	·	·	126.2	·	·	·	201.1	·	·	·	257.2	·	·
Earnings Yield	3.6%	4.1%	·	2.1%	1.6%	1.6%	·	1.1%	1.0%	0.99%	·	0.98%	0.86%	1.0%	·	1.1%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	$752M	$638M	$537M	$451M	$385M
Gross Margin %	69.2%	67.0%	66.1%	66.0%	65.8%
Operating Margin %	15.7%	13.9%	14.4%	15.8%	14.3%
Net Income	$93M	$77M	$66M	$55M	$45M
Diluted EPS	$2.46	$2.04	$1.76	$1.49	$1.21

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Current Ratio	2.2	2.6	3.1	2.9	3.4
Quick Ratio	1.4	2.0	2.5	2.3	2.8

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Free Cash Flow	$152M	$137M	$113M	$80M	$93M

Institutional owners (13F) 343 filers · $2.6B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 343

Value held $2.6B

New positions 57

Exited positions 62

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
57 (-12 vs prior Q)	62 (-19 vs prior Q)	112 (-15 vs prior Q)	111 (+18 vs prior Q)	-73K

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution	Value	Shares	% of tracked 13F	Type
VANGUARD GROUP INC	$439,004,555	4,925,441	16.72%	Shares
BlackRock, Inc.	$339,258,844	5,934,211	12.92%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$166,633,914	2,914,709	6.35%	Shares
DISCIPLINED GROWTH INVESTORS INC /MN	$121,422,277	2,123,881	4.63%	Shares
NEUBERGER BERMAN GROUP LLC	$101,812,680	1,780,876	3.88%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$91,379,556	1,598,383	3.48%	Shares
STATE STREET CORP	$88,367,440	1,545,696	3.37%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$72,401,154	1,266,247	2.76%	Shares
GOLDMAN SACHS GROUP INC	$63,312,001	1,107,434	2.41%	Shares
MORGAN STANLEY	$57,054,061	997,970	2.17%	Shares
Engine Capital Management, LP	$52,389,445	916,380	2.00%	Shares
CITADEL ADVISORS LLC	$52,245,834	913,868	1.99%	Shares
FEDERATED HERMES, INC.	$51,546,302	901,632	1.96%	Shares
Invenomic Capital Management LP	$49,704,170	869,410	1.89%	Shares
BNP PARIBAS ASSET MANAGEMENT Holding S.A.	$43,489,218	760,700	1.66%	Shares
Anson Funds Management LP	$42,591,650	745,000	1.62%	Shares
Lightrock Netherlands B.V.	$35,054,871	613,169	1.34%	Shares
Irenic Capital Management LP	$34,170,738	597,704	1.30%	Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$31,016,097	542,524	1.18%	Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	$29,127,543	509,490	1.11%	Shares
NORTHERN TRUST CORP	$28,291,603	494,868	1.08%	Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	$23,552,000	411,959	0.90%	Shares
BANK OF AMERICA CORP /DE/	$21,643,818	378,587	0.82%	Shares
Thematics Asset Management	$20,506,624	196,914	0.78%	Shares
DIMENSIONAL FUND ADVISORS LP	$19,663,870	343,932	0.75%	Shares
JANUS HENDERSON GROUP PLC	$16,943,612	304,549	0.65%	Shares
Bank of New York Mellon Corp	$15,731,751	275,175	0.60%	Shares
Public Sector Pension Investment Board	$15,489,868	270,944	0.59%	Shares
PRINCIPAL FINANCIAL GROUP INC	$15,341,398	268,347	0.58%	Shares
BARCLAYS PLC	$15,272,107	267,135	0.58%	Shares
BNP PARIBAS FINANCIAL MARKETS	$14,985,400	262,120	0.57%	Shares
VANGUARD FIDUCIARY TRUST CO	$14,512,319	253,845	0.55%	Shares
Nuveen, LLC	$13,271,786	232,146	0.51%	Shares
Qube Research & Technologies Ltd	$12,478,210	218,265	0.48%	Shares
GLENMEDE TRUST CO NA	$12,250,272	214,278	0.47%	Shares
AQR CAPITAL MANAGEMENT LLC	$11,883,953	207,870	0.45%	Shares
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND	$11,585,215	202,645	0.44%	Shares
Fenimore Asset Management Inc	$11,194,229	195,806	0.43%	Shares
D. E. Shaw & Co., Inc.	$10,450,219	182,792	0.40%	Shares
Long Path Partners LP	$10,342,739	180,912	0.39%	Shares
Walleye Capital LLC	$10,309,752	180,335	0.39%	Shares
UBS Group AG	$10,044,254	175,691	0.38%	Shares
Invesco Ltd.	$9,957,470	174,173	0.38%	Shares
Glenmede Investment Management, LP	$9,782,807	93,939	0.37%	Shares
CANADA PENSION PLAN INVESTMENT BOARD	$8,967,686	156,860	0.34%	Shares
LAZARD ASSET MANAGEMENT LLC	$8,790,974	153,769	0.33%	Shares
ROYAL BANK OF CANADA	$8,006,000	140,044	0.31%	Shares
COMERICA BANK	$7,668,263	86,035	0.29%	Shares
Congress Wealth Management LLC / DE /	$6,645,130	48,828	0.25%	Shares
JPMORGAN CHASE & CO	$6,484,009	110,694	0.25%	Shares

Show all 343 institutional owners →

Company insiders 30 insiders · 9 officers · 19 directors

19

Insider	Role	Last activity	Shares owned	Sells 12m	Net 12m
Chadwick Collins	Chief Executive Officer	Feb. 20, 2026 A	174,173	3	$-785,102
Del Preto Joseph	EXECUTIVE VP AND CFO	May 7, 2026 A	141,707	0	$0
Kimberly K. Nelson	EVP & CFO	Feb. 20, 2026 A	185,141	3	$-369,541
James J. Frome	President and COO	Aug. 16, 2024 S	43,466	0	$0
Jamie Thingelstad	EVP, Chief Technology Officer	May 8, 2026 A	95,777	2	$-132,853
Eduardo Rosini	EVP, Chief Commercial Officer	Feb. 20, 2026 A	109,860	0	$0
Dan Juckniess	EVP, Chief Sales Officer	Feb. 18, 2025 A	31,802	0	$0
Michael J. Gray	EVP of Operations	June 29, 2012 M	6,319	0	$0
David J. Novak Jr.	EVP of Business Develpmt	June 29, 2012 M	6,319	0	$0
Marty M Reaume	Director	May 7, 2026 M	9,158	6	$-417,377
Tami Reller	Director	March 13, 2026 M	51,172	0	$0
Fumbi F. Chima	Director	Feb. 20, 2026 A	3,451	0	$0
Michael J Mcconnell	Director	Feb. 20, 2026 A	3,451	0	$0
Mark Partin	Director	Nov. 6, 2025 A	2,485	0	$0
Razat Gaurav	Director	May 13, 2025 A	1,310	0	$0
Anne Sempowski Ward	Director	May 13, 2025 A	4,134	0	$0
Sven Wehrwein	Director	May 13, 2025 A	17,522	0	$0
James Burr Ramsey	Director	May 22, 2024 M	14,728	0	$0
Archie C. Black	Director	Feb. 22, 2024 S	56,997	0	$0
Martin J Leestma	Director	Nov. 3, 2020 M	28,318	0	$0
Melvin L Keating	Director	May 31, 2018 A	913	0	$0
Michael A Smerklo	Director	May 2, 2018 S	0	0	$0
Michael B Gorman	Director	Dec. 15, 2014 G	22,363	0	$0
George H. Spencer III	Director	Aug. 30, 2013 S	2,003	0	$0
Daniel R Fishback	Director	May 24, 2012 A	1,055	0	$0
Steve A. Cobb	Director	May 27, 2011 M	1,200	0	$0
Murray R. Wilson	Director	April 27, 2010 A	1,011,947	0	$0
Philip Soran	·	Nov. 18, 2025 M	22,177	0	$0
Bradley A. Cleveland	·	May 15, 2013 A	948	0	$0
Split Rock Partners LLC	·	May 17, 2011 A	·	0	$0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 58 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund	Weight	Units	As of	Source
SOVF · Elevation Series Trust	3.12%	37,171 NS	July 31, 2026	N-PORT
PSCT · Invesco Exchange-Traded Fund Trust …	1.25%	79,609 SH	Oct. 2, 2026	Daily
SCOW · Pacer Funds Trust	0.92%	215 NS	July 31, 2026	N-PORT
CAFG · Pacer Funds Trust	0.57%	2,353 NS	July 31, 2026	N-PORT
HAPS · Harbor ETF Trust	0.49%	11,452 NS	July 31, 2026	N-PORT
CALF · Pacer Funds Trust	0.21%	106,386 NS	July 31, 2026	N-PORT
NUSC · Nushares ETF Trust	0.20%	35,715 NS	July 31, 2026	N-PORT
FYC · First Trust Exchange-Traded AlphaDE…	0.17%	30,125 NS	July 31, 2026	N-PORT
VIOG · VANGUARD ADMIRAL FUNDS	0.14%	26,219 SH	Aug. 19, 2026	Daily
PRFZ · Invesco Exchange-Traded Fund Trust	0.12%	38,911 SH	Oct. 2, 2026	Daily
IWO · iShares Trust	0.11%	210,890 SH	Sept. 11, 2026	Daily
VIOO · VANGUARD ADMIRAL FUNDS	0.11%	127,978 SH	Aug. 19, 2026	Daily
JPSE · J.P. Morgan Exchange-Traded Fund Tr…	0.11%	8,557 NS	July 31, 2026	N-PORT
BBSC · J.P. Morgan Exchange-Traded Fund Tr…	0.10%	9,947 NS	July 31, 2026	N-PORT
IGV · iShares Trust	0.10%	167,820 SH	Sept. 11, 2026	Daily
IWM · iShares Trust	0.09%	956,239 SH	Sept. 11, 2026	Daily
VIOV · VANGUARD ADMIRAL FUNDS	0.09%	31,161 SH	Aug. 19, 2026	Daily
RSSL · Global X Funds	0.09%	17,846 NS	July 31, 2026	N-PORT
ESML · iShares Trust	0.08%	30,468 SH	Sept. 11, 2026	Daily
PNQI · Invesco Exchange-Traded Fund Trust	0.08%	5,126 SH	Oct. 2, 2026	Daily
VTWG · VANGUARD SCOTTSDALE FUNDS	0.07%	23,828 SH	Aug. 19, 2026	Daily
VTWO · VANGUARD SCOTTSDALE FUNDS	0.06%	214,651 SH	Aug. 19, 2026	Daily
VTWV · VANGUARD SCOTTSDALE FUNDS	0.06%	13,129 SH	Aug. 19, 2026	Daily
RWJ · Invesco Exchange-Traded Fund Trust …	0.05%	12,545 SH	Oct. 2, 2026	Daily
ISCG · iShares Trust	0.05%	6,639 SH	Sept. 11, 2026	Daily
VBK · VANGUARD INDEX FUNDS	0.05%	458,806 SH	Aug. 19, 2026	Daily
OMFS · Invesco Exchange-Traded Self-Indexe…	0.04%	1,169 SH	Oct. 2, 2026	Daily
FAD · First Trust Exchange-Traded AlphaDE…	0.03%	2,727 NS	July 31, 2026	N-PORT
VGT · VANGUARD WORLD FUND	0.03%	952,221 SH	Aug. 19, 2026	Daily
RILA · Spinnaker ETF Series	0.03%	171 NS	July 31, 2026	N-PORT
DXUV · Dimensional ETF Trust	0.03%	2,005 NS	July 31, 2026	N-PORT
WSML · iShares Trust	0.03%	2,287 SH	Sept. 11, 2026	Daily
SMDX · Tidal Trust III	0.02%	382 NS	July 31, 2026	N-PORT
VXF · VANGUARD INDEX FUNDS	0.02%	421,209 SH	Aug. 19, 2026	Daily
VB · VANGUARD INDEX FUNDS	0.02%	797,921 SH	Aug. 19, 2026	Daily
DFSV · Dimensional ETF Trust	0.02%	19,584 NS	July 31, 2026	N-PORT
IGM · iShares Trust	0.01%	17,256 SH	Sept. 11, 2026	Daily
DFAS · Dimensional ETF Trust	0.01%	21,579 NS	July 31, 2026	N-PORT
FTEC · FIDELITY COVINGTON TRUST	0.00%	11,146 NS	July 31, 2026	N-PORT
ITOT · iShares Trust	0.00%	49,639 SH	Sept. 11, 2026	Daily
IYY · iShares Trust	0.00%	1,567 SH	Sept. 10, 2026	Daily
IWV · iShares Trust	0.00%	10,099 SH	Sept. 9, 2026	Daily
DFAT · Dimensional ETF Trust	0.00%	6,861 NS	July 31, 2026	N-PORT
DFAC · Dimensional ETF Trust	0.00%	14,111 NS	July 31, 2026	N-PORT
DFUS · Dimensional ETF Trust	0.00%	5,187 NS	July 31, 2026	N-PORT
TILT · FlexShares Trust	0.00%	474 NS	July 31, 2026	N-PORT
VTI · VANGUARD INDEX FUNDS	0.00%	1,110,399 SH	Aug. 19, 2026	Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX…	0.00%	30,104 SH	Aug. 19, 2026	Daily
VTHR · VANGUARD SCOTTSDALE FUNDS	0.00%	2,995 SH	Aug. 19, 2026	Daily
ESGV · VANGUARD WORLD FUND	0.00%	8,217 SH	Aug. 19, 2026	Daily
FTLS · First Trust Exchange-Traded Fund III	-0.04%	-12,623 NS	July 31, 2026	N-PORT
IJR · iShares Trust	·	2,239,710 SH	Sept. 10, 2026	Daily
IJT · iShares Trust	·	208,559 SH	Sept. 9, 2026	Daily
IJS · iShares Trust	·	130,595 SH	Sept. 8, 2026	Daily
IWN · iShares Trust	·	143,043 SH	Sept. 11, 2026	Daily
XJR · iShares Trust	·	5,065 SH	Aug. 31, 2026	Daily
ISCB · iShares Trust	·	1,620 SH	Sept. 11, 2026	Daily
ISCV · iShares Trust	·	3,446 SH	Sept. 11, 2026	Daily

SPSC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21

rating · 19 analysts BUY

Median target $70.00 -15.0%

3 15.8% Strong Buy

5 26.3% Buy

10 52.6% Hold

1 5.3% Sell

0 0.0% Strong Sell

12-Month Price Target

11 analysts · 2026-10-03

Mean target $75.45 -8.4%

Now Current price $82.35

Low$59.00 Mean$75.45 High$103.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
SPSC	$3.34B	36.2	17.8%	12.4%	9.7%	69.2%
FRSH	$3.47B	19.4	16.4%	21.9%	18.2%	85.0%
WK	·	-183.5	19.8%	-3.0%	72.7%	78.5%
CLSK	·	·	·	·	·	·
AVPT	$2.99B	92.6	26.9%	8.3%	7.5%	74.1%
BRZE	·	-17.7	24.4%	-17.8%	-21.5%	67.2%
AGYS	$2.00B	51.9	15.8%	12.2%	12.4%	62.6%
INTA	$1.93B	-48.5	14.6%	-7.1%	-11.3%	75.8%
ALRM	$2.53B	20.7	7.6%	13.0%	16.0%	·
SOUN	·	·	·	·	·	·
FIVN	$1.55B	44.6	10.3%	3.4%	5.6%	55.1%

Latest News Recent headlines mentioning this company

23

Should You Consider Selling Your Position in SPS Commerce (SPSC)? Yahoo Finance · 5 months ago

Trading Signals Recent buy/sell signals with entry price and risk/reward ratio

25

BOUNCE_UP Expired Oct 31

risk 1 reward 1.50

entry $78.83 R:R 1.50

No open signal right now — no card is filled, and that's honest.

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

Pick the metrics that matter to you — click the + next to any row in Full Fundamentals above.

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SPSC SPS Commerce, Inc. - Common Stock

SPSC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

SPSC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

About SPS Commerce, Inc. - Common Stock Company overview from Wikipedia

10-Year Performance Revenue, net income, margins and EPS trends

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Financial Health Debt, liquidity, solvency — balance sheet strength

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Institutional owners (13F) 343 filers · $2.6B total · As of Sept. 30, 2026

Company insiders 30 insiders · 9 officers · 19 directors

ETF ownership Held by 58 ETFs

SPSC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

12-Month Price Target

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Latest News Recent headlines mentioning this company

Trading Signals Recent buy/sell signals with entry price and risk/reward ratio

My Metrics Your personal watchlist — selected rows from Full Fundamentals