Sps Commerce (SPSC) EBITDA Margin (2010 - 2026)
Sps Commerce's (SPSC) quarterly EBITDA Margin came in at 12.78% in Q1 2026, down 151.0% year-on-year from 25.06% in Q1 2025, and down 29.0% on a QoQ basis from 18.0% in Q4 2025.
Sps Commerce (SPSC) EBITDA Margin (2010 - 2026) Analysis & Trends
Sps Commerce (SPSC) has 17 years of EBITDA Margin data on file, last reported at 12.78% in Q1 2026.
- On a quarterly basis, EBITDA Margin fell 151.0% year-over-year to 12.78% in Q1 2026; TTM through Mar 2026 was 15.34%, a 49.0% increase from a year earlier, with the FY2025 full-year figure at 15.74%, up 181.0% from the prior year.
- EBITDA Margin for Q1 2026 stood at 12.78%, down from 18.0% in the prior quarter.
- Over the last five years, EBITDA Margin for SPSC reached as high as 18.0% in Q4 2025 and fell as low as 10.3% in Q1 2024.
- Historically, EBITDA Margin has averaged 14.8% across 5 years, with a median of 15.08% in 2024.
- Across the five-year window, EBITDA Margin slumped 299 bps in 2024 and soared 400 bps in 2025, its largest moves.
- Year by year, EBITDA Margin stood at 15.58% in 2022, then rose by 1 bps to 15.79% in 2023, then decreased by 8 bps to 14.48% in 2024, then advanced by 24 bps to 18.0% in 2025, then slipped by 29 bps to 12.78% in 2026.
- Per Business Quant data, the three most recent EBITDA Margin figures were 12.78% in Q1 2026, 18.0% in Q4 2025, and 16.42% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 208.91 Bn | 189.27 Bn | 8.16 Bn | 28.69% |
| 2 | Full Truck Alliance | 188.77 Bn | 186.13 Bn | - | - |
| 3 | Shopify | 145.98 Bn | 140.23 Bn | 1.55 Bn | 12.05% |
| 4 | Uber Technologies | 141.48 Bn | 140.44 Bn | 5.95 Bn | 14.56% |
| 5 | Salesforce | 128.51 Bn | 116.67 Bn | 8.56 Bn | 21.08% |
| 6 | ServiceNow | 98.38 Bn | 93.20 Bn | 2.82 Bn | 4.06% |
| 7 | Automatic Data Processing | 97.56 Bn | 94.34 Bn | 2.87 Bn | -22.99% |
| 8 | Snowflake | 91.55 Bn | 88.59 Bn | 926.45 Mn | -23.45% |
| 9 | Cadence Design Systems | 89.91 Bn | 88.50 Bn | 1.41 Bn | 29.26% |
| 10 | Sps Commerce | 2.37 Bn | 2.22 Bn | 132.90 Mn | 12.78% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 12.78% |
| Dec 31, 2025 | 18.00% |
| Sep 30, 2025 | 16.42% |
| Jun 30, 2025 | 14.12% |
| Mar 31, 2025 | 14.30% |
| Dec 31, 2024 | 14.48% |
| Sep 30, 2024 | 15.62% |
| Jun 30, 2024 | 15.08% |
| Mar 31, 2024 | 10.30% |
| Dec 31, 2023 | 15.79% |
| Sep 30, 2023 | 15.18% |
| Jun 30, 2023 | 13.06% |
| Mar 31, 2023 | 13.29% |
| Dec 31, 2022 | 15.58% |
| Sep 30, 2022 | 17.20% |
| Jun 30, 2022 | 14.63% |
| Mar 31, 2022 | 15.69% |
| Dec 31, 2021 | 14.96% |
| Sep 30, 2021 | 13.81% |
| Jun 30, 2021 | 14.31% |