Stocktoria

SPS COMMERCE INC SPSC

Nasdaq · stock · Services-Prepackaged Software · website · IPO 2010-04-22 · LEI

SPS COMMERCE INC (SPSC) earns a Piotroski F-score of 6/9 (mixed financial health), with an Altman Z″ in the safe zone. It does not currently pay a dividend. FY2025 revenue was $751.5M at a 12.4% net margin.

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75/100
Stocktoria Quality Score · grade A
6/9
Piotroski F — financial health
8.11
Altman Z″ — distress risk · safe
Dividend yield · no dividend
-2.51
Beneish M-score — earnings quality · low

Quality score trend · recomputed for each fiscal year

Piotroski F /9
4 4 5 4 5 5 7 5 4 6 2016201720182019202020212022202320242025
Altman Z″
8.67 9.46 8.86 8.24 7.78 7.85 7.87 8.29 8.22 8.11 2016201720182019202020212022202320242025

Each year's score is computed from that year's filing — a rising Piotroski F or Altman Z″ means improving financial health, a fall is worth a look.

$76.41 as of 2026-08-01 · -30.7% 1y
$55.67$110.3052-wk

Beneish M-score: -2.51 — low (below −2.22 — no manipulation red flag) . A statistical screen for earnings manipulation, not proof — and it doesn't apply to most banks/insurers.

Market cap USD$2.2B
P / E23.2×
Net margin 5y avg12.1%
Return on equity 5y avg9.6%
Beta0.56
Employees2,948

Analyst price target

$68.09 -10.9% vs last
consensus: hold · 11 analysts
target range $55.00 – $103.00

Wall Street analyst consensus — a sentiment gauge, not our scoring.

Revenue trend · last 10y · up

How it ranks in Services · percentile among 982 companies

Piotroski Fstronger than 76%
Net marginstronger than 81%
Return on equitystronger than 66%
Revenue growthstronger than 75%

Percentile vs other Services companies we cover — e.g. “stronger than 90%” means only 10% score higher on that measure.

Piotroski F breakdown · 6/9 tests passed

Altman Z″ components · safe zone

ComponentValue
Working capital / assets0.155
Retained earnings / assets0.367
EBIT / assets0.101
Equity / liabilities4.97

Sector peers · similar-size Services companies compare side by side →

TickerCompanyPiotroski FAltman Z″P / ERevenue growth
SPSCSPS COMMERCE INC6/98.1123.2+17.8%
BANDBandwidth Inc.5/90.7+0.7%
VERXVertex, Inc.7/90.09267.9+12.2%
COURCoursera, Inc.5/91.89+9%
BRZEBraze, Inc.3/9-0.77+24.4%
CWANClearwater Analytics Holdings, Inc.2/92.68+61.9%
DSGXDESCARTES SYSTEMS GROUP INC5/98.6949.4+12%

All Services companies →

About SPS COMMERCE INC

SPS Commerce, Inc. provides cloud-based supply chain management solutions in the United States. It offers solutions through SPS Commerce, a cloud-based platform that connects retailers, brands, distributors, manufacturers, and logistics providers, handling the complexity of modern commerce operations. The company also provides Fulfillment, a comprehensive solution designed to streamline supply chain operation that sends and receives order data, ensuring accurate execution of required processes from order to invoicing and revenue recovery through fully automated operations; and Analytics product that simplifies managing sell-through data from customers business partners that handle data acquisition, cleansing, normalization, and delivery. In addition, it offers various complimentary products, such as assortment product, which simplifies the communication of robust, accurate item data by automatically translating item attributes, and hierarchies through single connection across all sales channels; and relationship management product that allows organizations to accelerate digitization of their supply chain and improve collaboration with suppliers through change management, onboarding programs, and supplier score carding. The company was formerly known as St. Paul Software, Inc. and changed its name to SPS Commerce, Inc. in May 2001. SPS Commerce, Inc. was incorporated in 1987 and is headquartered in Minneapolis, Minnesota.

FAQ

Is SPSC financially healthy?

SPS COMMERCE INC's Piotroski F-score is 6/9 (8–9 is excellent, 0–3 weak), and its Altman Z″ distress score is in the safe zone.

Does SPSC pay a dividend?

No, SPS COMMERCE INC does not currently pay a dividend.

How profitable is SPSC?

In FY2025, SPS COMMERCE INC had a net margin of 12.4% and a return on equity of 9.6%.

Is SPSC overvalued or undervalued?

SPS COMMERCE INC trades at about 31.1× trailing earnings — below its 10-year norm (10-year range 36.3×–2630.0×, median 91.3×). Stocktoria reports the data, not buy/sell advice.

What is the analyst price target for SPSC?

The average Wall-Street price target for SPS COMMERCE INC is $68.09, about 10.9% below the recent price, from 11 analysts (consensus: hold).

Is SPSC a good stock to buy?

Stocktoria doesn't give buy or sell advice, but here is the data on SPS COMMERCE INC: a Piotroski F-score of 6/9, an Altman Z″ in the safe zone, a P/E of about 23.2×. Weigh these quality and valuation signals against your own goals.

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.