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

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.

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

Price

$80.82

Market Cap

$2.99B

P/E (TTM)

32.4

EPS (TTM)

$2.46

Revenue (TTM)

$752M

Div Yield

—

ROE

9.7%

Debt/Equity

—

52W Range

$49 – $117

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

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

Revenue & Net Income $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

Margins 12.4%

2016-12-31 → 2025-12-31

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

Metric

5Y trend

SPSC

Peer Median

P/E (TTM)

32.4

36.3

P/S (TTM)

4.0

5.1

P/B

3.1

6.3

Price / FCF

19.6

—

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

Metric

5Y trend

SPSC

Peer Median

Gross Margin

69.2%

67.8%

Operating Margin

15.7%

—

Net Profit Margin

12.4%

6.8%

ROA

8.5%

4.3%

ROE

9.7%

7.3%

ROIC

9.2%

—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric

5Y trend

SPSC

Peer Median

Current Ratio

2.2

3.6

Quick Ratio

1.4

—

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

Metric

5Y trend

SPSC

Peer Median

Revenue YoY

17.8%

—

Revenue CAGR 3Y

18.6%

—

Revenue CAGR 5Y

19.2%

—

EPS YoY

20.6%

—

Net Income YoY

21.1%

—

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

Metric

5Y trend

SPSC

Peer Median

EPS (Diluted)

$2.46

—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric

5Y trend

SPSC

Peer Median

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

BUY 18 analysts

Strong Buy 3 16.7%
Buy 5 27.8%
Hold 9 50.0%
Sell 1 5.6%
Strong Sell 0 0.0%

12-Month Price Target

11 analysts · 2026-08-15

Median $70.00

Now $80.82

Low $59.00

High $103.00

Median target $70.00 -13.4%

Mean target $73.18 -9.5%

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

Avg Surprise

0.11%

Period	EPS Actual	EPS Est	Surprise
June 30, 2026	$1.27	$1.12	0.15%
March 31, 2026	$1.10	$1.00	0.10%
Dec. 31, 2025	$1.10	$1.03	0.07%
Sept. 30, 2025	$1.13	$1.02	0.11%
June 30, 2025	$1.00	$0.92	0.08%
March 31, 2025	$1.00	$0.86	0.14%

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

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%
AGYS	$2.00B	51.9	15.8%	12.2%	12.4%	62.6%
SOUN	—	—	—	—	—	—
NN	—	—	—	—	—	—
CLSK	—	—	—	—	—	—
INTA	$1.93B	-48.5	14.6%	-7.1%	-11.3%	75.8%
AVPT	$2.99B	92.6	26.9%	8.3%	7.5%	74.1%
ALRM	$2.53B	20.7	7.6%	13.0%	16.0%	—
FIVN	$1.55B	44.6	10.3%	3.4%	5.6%	55.1%
NCNO	$2.43B	427.2	10.0%	0.87%	0.49%	60.6%
RAMP	—	11.8	9.0%	17.9%	15.2%	70.7%

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

Income Statement 17

Annual Income Statement data for SPSC
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

Annual Balance Sheet data for SPSC
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

Annual Cash Flow data for SPSC
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

Annual Profitability data for SPSC
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

Annual Liquidity & Solvency data for SPSC
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

Annual Efficiency data for SPSC
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

Annual Per Share data for SPSC
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

Annual Growth Rates data for SPSC
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

Annual Valuation (TTM) data for SPSC
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

Quarterly Income Statement data for SPSC
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	-75,969,000	37,895,000	37,965,000	37,990,000	-74,268,000	37,447,000	37,078,000	37,049,000	-73,102,000	36,728,000	36,593,000	36,427,000	-72,197,000	36,093,000
Shares (Diluted)	36,577,000	37,442,000	-76,263,000	37,993,000	38,099,000	38,163,000	-75,509,000	37,996,000	37,683,000	37,686,000	-74,690,000	37,584,000	37,426,000	37,155,000	-73,813,000	36,915,000
EBITDA	$8M	·	·	$31M	$26M	$31M	·	$26M	$23M	$20M	·	$21M	$17M	$21M	·	$20M

Balance Sheet 26

Quarterly Balance Sheet data for SPSC
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

Quarterly Cash Flow data for SPSC
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

Quarterly Profitability data for SPSC
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

Quarterly Liquidity & Solvency data for SPSC
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

Quarterly Efficiency data for SPSC
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

Quarterly Per Share data for SPSC
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)	$1.91	$2.30	·	$2.39	$2.20	$2.16	·	$2.03	$1.80	$1.73	·	$1.68	$1.52	$1.47	·	$1.37

Valuation (TTM) 10

Quarterly Valuation (TTM) data for SPSC
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	$767M	$751M	·	$723M	$686M	$648M	·	$603M	$569M	$542M	·	$506M	$480M	$455M	·	$427M
Net Income TTM	$72M	$87M	·	$91M	$83M	$82M	·	$76M	$68M	$65M	·	$63M	$57M	$55M	·	$51M
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	29.9	24.2	·	43.6	61.9	61.4	·	95.7	104.5	106.9	·	101.6	126.4	103.6	·	90.7
P/S	2.7	·	·	5.4	7.5	7.8	·	12.1	12.3	12.7	·	12.4	14.7	12.2	·	10.5
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	·	·
P / FCF	·	·	·	·	·	149.1	·	·	·	224.4	·	·	·	339.9	·	·
Earnings Yield	3.3%	4.1%	·	2.3%	1.6%	1.6%	·	1.1%	0.96%	0.94%	·	0.98%	0.79%	0.97%	·	1.1%

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

Income Statement

	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

Balance Sheet

	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

Cash Flow

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

Latest News Recent headlines mentioning this company

Should You Consider Selling Your Position in SPS Commerce (SPSC)? Yahoo Finance · 3 months, 3 weeks ago

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

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Institutional owners (13F) 348 filers · $2.0B total · As of June 30, 2026

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.

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
63 (+2 vs prior Q)	62 (-19 vs prior Q)	107 (-18 vs prior Q)	107 (+14 vs prior Q)	+7.0M

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	$410,936,004	4,610,524	20.64%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$166,633,914	2,914,709	8.37%	Shares
DISCIPLINED GROWTH INVESTORS INC /MN	$121,422,277	2,123,881	6.10%	Shares
NEUBERGER BERMAN GROUP LLC	$101,344,744	1,772,691	5.09%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$91,379,556	1,598,383	4.59%	Shares
STATE STREET CORP	$88,367,440	1,545,696	4.44%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$64,531,189	1,128,588	3.24%	Shares
Engine Capital Management, LP	$52,389,445	916,380	2.63%	Shares
GOLDMAN SACHS GROUP INC	$50,992,381	891,943	2.56%	Shares
Invenomic Capital Management LP	$49,704,170	869,410	2.50%	Shares
CITADEL ADVISORS LLC	$49,587,772	867,374	2.49%	Shares
BNP PARIBAS ASSET MANAGEMENT Holding S.A.	$42,795,518	748,566	2.15%	Shares
Anson Funds Management LP	$42,591,650	745,000	2.14%	Shares
Lightrock Netherlands B.V.	$35,054,871	613,169	1.76%	Shares
Irenic Capital Management LP	$34,170,738	597,704	1.72%	Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$31,016,097	542,524	1.56%	Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	$29,127,543	509,490	1.46%	Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	$23,552,000	411,959	1.18%	Shares
Thematics Asset Management	$20,506,624	196,914	1.03%	Shares
DIMENSIONAL FUND ADVISORS LP	$17,854,819	312,311	0.90%	Shares
JANUS HENDERSON GROUP PLC	$16,943,612	304,549	0.85%	Shares
Public Sector Pension Investment Board	$15,489,868	270,944	0.78%	Shares
BARCLAYS PLC	$15,265,361	267,017	0.77%	Shares
PRINCIPAL FINANCIAL GROUP INC	$15,226,086	266,330	0.76%	Shares
BNP PARIBAS FINANCIAL MARKETS	$14,985,400	262,120	0.75%	Shares
VANGUARD FIDUCIARY TRUST CO	$14,512,319	253,845	0.73%	Shares
BANK OF AMERICA CORP /DE/	$13,304,488	232,718	0.67%	Shares
Qube Research & Technologies Ltd	$12,478,210	218,265	0.63%	Shares
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND	$11,585,215	202,645	0.58%	Shares
GLENMEDE TRUST CO NA	$11,549,940	202,028	0.58%	Shares
Fenimore Asset Management Inc	$11,194,229	195,806	0.56%	Shares
D. E. Shaw & Co., Inc.	$10,450,219	182,792	0.52%	Shares
Long Path Partners LP	$10,342,739	180,912	0.52%	Shares
Walleye Capital LLC	$10,309,752	180,335	0.52%	Shares
Bank of New York Mellon Corp	$9,419,501	164,763	0.47%	Shares
CANADA PENSION PLAN INVESTMENT BOARD	$8,967,686	156,860	0.45%	Shares
LAZARD ASSET MANAGEMENT LLC	$8,790,974	153,769	0.44%	Shares
Glenmede Investment Management, LP	$8,343,280	80,116	0.42%	Shares
Congress Wealth Management LLC / DE /	$6,645,130	48,828	0.33%	Shares
PERRY CREEK CAPITAL LP	$6,055,847	105,927	0.30%	Shares
Anson Funds Management LP	$5,717,000	100,000	0.29%	Call option
RHUMBLINE ADVISERS	$5,327,534	93,188	0.27%	Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	$4,813,314	84,193	0.24%	Shares
RENAISSANCE GROUP LLC	$4,476,754	78,306	0.22%	Shares
ALLIANCEBERNSTEIN L.P.	$4,356,957	78,264	0.22%	Shares
PRUDENTIAL FINANCIAL INC	$4,341,718	75,944	0.22%	Shares
LPL Financial LLC	$4,268,284	74,660	0.21%	Shares
Swiss National Bank	$4,253,448	74,400	0.21%	Shares
CAXTON ASSOCIATES LLP	$4,247,159	74,290	0.21%	Shares
AMERICAN CAPITAL MANAGEMENT INC	$4,228,179	73,958	0.21%	Shares
Quantinno Capital Management LP	$4,020,538	70,326	0.20%	Shares
HERALD INVESTMENT MANAGEMENT Ltd	$3,999,100	70,000	0.20%	Shares
Advantage Alpha Capital Partners LP	$3,994,706	38,359	0.20%	Shares
Voleon Capital Management LP	$3,988,122	69,759	0.20%	Shares
Sovereign's Capital Management, LLC	$3,957,955	69,184	0.20%	Shares
VICTORY CAPITAL MANAGEMENT INC	$3,873,668	67,757	0.19%	Shares
AMERIPRISE FINANCIAL INC	$3,711,047	64,912	0.19%	Shares
MONTRUSCO BOLTON INVESTMENTS INC.	$3,618,861	63,300	0.18%	Shares
Occam Crest Management LP	$3,608,800	52,000	0.18%	Shares
Diametric Capital, LP	$3,404,416	59,549	0.17%	Shares
BUCKHEAD CAPITAL MANAGEMENT LLC	$3,294,262	57,626	0.17%	Shares
EFG Asset Management (North America) Corp.	$3,280,471	31,490	0.16%	Shares
Legal & General Group Plc	$3,217,871	56,286	0.16%	Shares
Ballast Asset Management, LP	$3,215,755	56,249	0.16%	Shares
Palisades Investment Partners, LLC	$3,192,170	55,838	0.16%	Shares
FRED ALGER MANAGEMENT, LLC	$3,154,641	55,180	0.16%	Shares
Verition Fund Management LLC	$3,144,350	55,000	0.16%	Shares
FMR LLC	$3,062,597	53,570	0.15%	Shares
FEDERATED HERMES, INC.	$3,060,139	53,527	0.15%	Shares
NATIXIS	$3,001,425	52,500	0.15%	Shares
ZB,N.A.	$2,966,287	16,122	0.15%	Shares
UBS Group AG	$2,878,795	50,355	0.14%	Shares
Numerai GP LLC	$2,862,959	50,078	0.14%	Shares
Amundi	$2,588,029	45,269	0.13%	Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	$2,462,674	44,237	0.12%	Shares
SYNOVUS FINANCIAL CORP	$2,270,460	21,802	0.11%	Shares
BROWN CAPITAL MANAGEMENT LLC	$2,184,351	38,208	0.11%	Shares
Prescott Group Capital Management, L.L.C.	$2,181,264	38,154	0.11%	Shares
ENVESTNET ASSET MANAGEMENT INC	$2,072,584	36,253	0.10%	Shares
VANGUARD ASSET MANAGEMENT, Ltd	$2,035,767	35,609	0.10%	Shares
Ewing Morris & Co. Investment Partners Ltd.	$2,014,842	35,243	0.10%	Shares
WELLS FARGO & COMPANY/MN	$1,955,557	34,206	0.10%	Shares
NEW YORK STATE COMMON RETIREMENT FUND	$1,942,351	33,975	0.10%	Shares
Bridgewater Associates, LP	$1,874,833	32,794	0.09%	Shares
Corient Private Wealth LP	$1,783,305	31,193	0.09%	Shares
BlackRock, Inc.	$1,757,920	30,749	0.09%	Shares
Linden Thomas Advisory Services, LLC	$1,736,253	30,370	0.09%	Shares
Hillsdale Investment Management Inc.	$1,732,251	30,300	0.09%	Shares
KENNEDY CAPITAL MANAGEMENT LLC	$1,660,217	29,040	0.08%	Shares
Redwood Investments, LLC	$1,639,348	12,351	0.08%	Shares
Elo Mutual Pension Insurance Co	$1,586,982	27,759	0.08%	Shares
KLP KAPITALFORVALTNING AS	$1,572,175	27,500	0.08%	Shares
VELA Investment Management, LLC	$1,569,431	27,452	0.08%	Shares
DEUTSCHE BANK AG\	$1,449,603	25,356	0.07%	Shares
Assenagon Asset Management S.A.	$1,419,531	24,830	0.07%	Shares
RIVERBRIDGE PARTNERS LLC	$1,389,863	24,311	0.07%	Shares
INTECH INVESTMENT MANAGEMENT LLC	$1,362,418	23,831	0.07%	Shares
Cresset Asset Management, LLC	$1,334,176	23,337	0.07%	Shares
STATE OF WISCONSIN INVESTMENT BOARD	$1,305,191	22,830	0.07%	Shares
NORGES BANK	$1,303,476	22,800	0.07%	Shares

Company insiders 24 insiders · 6 officers · 16 directors

Insider	Role	Last activity	Shares owned	Net 12m
Chadwick Collins	Chief Executive Officer	Nov. 2, 2023 A	39,835	$0
Kimberly K. Nelson	EVP & CFO	Nov. 6, 2023 M	147,234	$0
James J. Frome	President & COO	June 7, 2023 M	34,332	$0
Jamie Thingelstad	EVP, Chief Technology Officer	Nov. 4, 2025 M	35,467	$0
Michael J. Gray	EVP of Operations	June 29, 2012 M	6,319	$0
David J. Novak Jr.	EVP of Business Develpmt	June 29, 2012 M	6,319	$0
Marty M Reaume	Director	Dec. 19, 2023 M	7,383	$0
Archie C. Black	Director	Nov. 30, 2023 M	60,043	$0
Sven Wehrwein	Director	Nov. 2, 2023 M	17,387	$0
Anne Sempowski Ward	Director	May 12, 2023 A	2,359	$0
Tami Reller	Director	May 12, 2023 A	31,043	$0
James Burr Ramsey	Director	May 12, 2023 A	14,263	$0
Martin J Leestma	Director	Nov. 3, 2020 M	28,318	$0
Michael J Mcconnell	Director	April 30, 2019 M	2,440	$0
Melvin L Keating	Director	May 31, 2018 A	913	$0
Michael A Smerklo	Director	May 2, 2018 S	0	$0
Michael B Gorman	Director	Dec. 15, 2014 G	22,363	$0
George H. Spencer III	Director	Aug. 30, 2013 S	2,003	$0
Daniel R Fishback	Director	May 24, 2012 A	1,055	$0
Steve A. Cobb	Director	May 27, 2011 M	1,200	$0
Murray R. Wilson	Director	April 27, 2010 A	1,011,947	$0
Philip Soran	—	Nov. 18, 2025 M	22,177	$0
Bradley A. Cleveland	—	May 15, 2013 A	948	$0
Split Rock Partners LLC	—	May 17, 2011 A	—	$0

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

ETF ownership Held by 77 ETFs

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	2.52%	42,280 NS	April 30, 2026	N-PORT
CLOU · Global X Funds	1.50%	70,886 NS	May 31, 2026	N-PORT
PSCT · Invesco Exchange-Traded Fund Trust …	1.14%	80,233 SH	Aug. 8, 2026	Daily
FSCC · Federated Hermes ETF Trust	1.06%	51,863 NS	May 31, 2026	N-PORT
SCOW · Pacer Funds Trust	0.78%	215 NS	April 30, 2026	N-PORT
NBSM · Neuberger Berman ETF Trust	0.51%	20,239 NS	May 31, 2026	N-PORT
HAPS · Harbor ETF Trust	0.39%	11,014 NS	April 30, 2026	N-PORT
CAFG · Pacer Funds Trust	0.29%	1,175 NS	April 30, 2026	N-PORT
AFSM · First Trust Exchange-Traded Fund VI…	0.29%	4,963 NS	May 31, 2026	N-PORT
IJT · iShares Trust	0.18%	204,044 SH	Aug. 8, 2026	Daily
NUSC · Nushares ETF Trust	0.17%	38,924 NS	April 30, 2026	N-PORT
XJR · iShares Trust	0.17%	4,345 SH	Aug. 8, 2026	Daily
IJR · iShares Trust	0.14%	2,241,328 SH	Aug. 8, 2026	Daily
VIOG · VANGUARD ADMIRAL FUNDS	0.14%	26,219 SH	Aug. 8, 2026	Daily
SMDX · Tidal Trust III	0.13%	2,821 NS	April 30, 2026	N-PORT
IJS · iShares Trust	0.11%	130,315 SH	Aug. 8, 2026	Daily
BBSC · J.P. Morgan Exchange-Traded Fund Tr…	0.11%	14,602 NS	April 30, 2026	N-PORT
VIOO · VANGUARD ADMIRAL FUNDS	0.11%	127,978 SH	Aug. 8, 2026	Daily
IWO · iShares Trust	0.10%	202,323 SH	Aug. 8, 2026	Daily
SAA · ProShares Trust	0.09%	451 NS	May 31, 2026	N-PORT
BKSE · BNY Mellon ETF Trust	0.09%	1,340 NS	April 30, 2026	N-PORT
IGV · iShares Trust	0.09%	179,148 SH	Aug. 8, 2026	Daily
PRFZ · Invesco Exchange-Traded Fund Trust	0.09%	35,713 SH	Aug. 8, 2026	Daily
VIOV · VANGUARD ADMIRAL FUNDS	0.09%	31,161 SH	Aug. 8, 2026	Daily
IWM · iShares Trust	0.09%	954,303 SH	Aug. 8, 2026	Daily
ESML · iShares Trust	0.08%	30,235 SH	Aug. 8, 2026	Daily
JPSE · J.P. Morgan Exchange-Traded Fund Tr…	0.07%	7,828 NS	April 30, 2026	N-PORT
PNQI · Invesco Exchange-Traded Fund Trust	0.07%	5,507 SH	Aug. 8, 2026	Daily
IWN · iShares Trust	0.07%	142,493 SH	Aug. 8, 2026	Daily
VTWG · VANGUARD SCOTTSDALE FUNDS	0.07%	23,828 SH	Aug. 8, 2026	Daily
RSSL · Global X Funds	0.06%	16,487 NS	April 30, 2026	N-PORT
GSSC · Goldman Sachs ETF Trust	0.06%	11,195 NS	May 31, 2026	N-PORT
RWJ · Invesco Exchange-Traded Fund Trust …	0.06%	17,604 SH	Aug. 8, 2026	Daily
VTWO · VANGUARD SCOTTSDALE FUNDS	0.06%	214,651 SH	Aug. 8, 2026	Daily
VTWV · VANGUARD SCOTTSDALE FUNDS	0.06%	13,129 SH	Aug. 8, 2026	Daily
ITWO · ProShares Trust	0.05%	1,794 NS	May 31, 2026	N-PORT
VBK · VANGUARD INDEX FUNDS	0.05%	458,806 SH	Aug. 8, 2026	Daily
DFAS · Dimensional ETF Trust	0.05%	119,803 NS	April 30, 2026	N-PORT
ISCG · iShares Trust	0.05%	6,500 SH	Aug. 8, 2026	Daily
SCHA · SCHWAB STRATEGIC TRUST	0.04%	180,234 NS	May 31, 2026	N-PORT
SXQG · EXCHANGE TRADED CONCEPTS TRUST	0.04%	506 NS	May 31, 2026	N-PORT
ISCB · iShares Trust	0.04%	1,620 SH	Aug. 8, 2026	Daily
SCHM · SCHWAB STRATEGIC TRUST	0.04%	102,783 NS	May 31, 2026	N-PORT
FTEC · FIDELITY COVINGTON TRUST	0.04%	117,980 NS	April 30, 2026	N-PORT
ISCV · iShares Trust	0.04%	3,446 SH	Aug. 8, 2026	Daily
UWM · ProShares Trust	0.03%	1,403 NS	May 31, 2026	N-PORT
OMFS · Invesco Exchange-Traded Self-Indexe…	0.03%	1,175 SH	Aug. 8, 2026	Daily
VGT · VANGUARD WORLD FUND	0.03%	952,221 SH	Aug. 8, 2026	Daily
FNDA · SCHWAB STRATEGIC TRUST	0.03%	41,892 NS	May 31, 2026	N-PORT
WSML · iShares Trust	0.02%	2,264 SH	Aug. 8, 2026	Daily
URTY · ProShares Trust	0.02%	1,419 NS	May 31, 2026	N-PORT
VXF · VANGUARD INDEX FUNDS	0.02%	421,209 SH	Aug. 8, 2026	Daily
VB · VANGUARD INDEX FUNDS	0.02%	797,921 SH	Aug. 8, 2026	Daily
RILA · Spinnaker ETF Series	0.02%	171 NS	April 30, 2026	N-PORT
DXUV · Dimensional ETF Trust	0.02%	1,186 NS	April 30, 2026	N-PORT
DFSV · Dimensional ETF Trust	0.01%	19,584 NS	April 30, 2026	N-PORT
AVSC · AMERICAN CENTURY ETF TRUST	0.01%	5,951 NS	May 31, 2026	N-PORT
IGM · iShares Trust	0.01%	17,230 SH	Aug. 8, 2026	Daily
MSSM · MORGAN STANLEY PATHWAY FUNDS	0.01%	1,468 NS	May 31, 2026	N-PORT
HDG · ProShares Trust	0.01%	36 NS	May 31, 2026	N-PORT
ONEQ · Fidelity Commonwealth Trust	0.01%	12,706 NS	May 31, 2026	N-PORT
TILT · FlexShares Trust	0.00%	1,694 NS	April 30, 2026	N-PORT
ITOT · iShares Trust	0.00%	49,643 SH	Aug. 8, 2026	Daily
IYY · iShares Trust	0.00%	1,567 SH	Aug. 8, 2026	Daily
IWV · iShares Trust	0.00%	9,989 SH	Aug. 8, 2026	Daily
DFAT · Dimensional ETF Trust	0.00%	6,861 NS	April 30, 2026	N-PORT
SCHB · SCHWAB STRATEGIC TRUST	0.00%	21,732 NS	May 31, 2026	N-PORT
DFAC · Dimensional ETF Trust	0.00%	14,111 NS	April 30, 2026	N-PORT
FNDB · SCHWAB STRATEGIC TRUST	0.00%	416 NS	May 31, 2026	N-PORT
AVSU · AMERICAN CENTURY ETF TRUST	0.00%	127 NS	May 31, 2026	N-PORT
DFUS · Dimensional ETF Trust	0.00%	5,187 NS	April 30, 2026	N-PORT
EBI · RBB Fund Trust	0.00%	20 NS	May 31, 2026	N-PORT
VTI · VANGUARD INDEX FUNDS	0.00%	1,110,399 SH	Aug. 8, 2026	Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX…	0.00%	30,104 SH	Aug. 8, 2026	Daily
VTHR · VANGUARD SCOTTSDALE FUNDS	0.00%	2,995 SH	Aug. 8, 2026	Daily
ESGV · VANGUARD WORLD FUND	0.00%	8,217 SH	Aug. 8, 2026	Daily
CSMD · Professionally Managed Portfolios	0.00%	-189 NS	April 30, 2026	N-PORT

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

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Institutional owners (13F) 348 filers · $2.0B total · As of June 30, 2026

Company insiders 24 insiders · 6 officers · 16 directors

ETF ownership Held by 77 ETFs