Sps Commerce (SPSC) Net Margin (2010 - 2026)
Sps Commerce (SPSC) reported Net Margin of 10.27% for Q1 2026, down 196.0% year-over-year from 10.7% in Q1 2025, and down 23.44% on a QoQ basis from 13.41% in Q4 2025.
Sps Commerce (SPSC) has 17 years of Net Margin data on file, last reported at 10.27% in Q1 2026.
- Quarterly Net Margin fell 196.0% year-over-year to 10.27% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 11.92% (down 21.0% YoY) and the FY2025 annual result came in at 12.42%, up 34.0% from the prior year.
- Net Margin slipped to 10.27% in Q1 2026 per SPSC's latest filing, from 13.41% in the prior quarter.
- Across five years, Net Margin topped out at 14.33% in Q3 2024 and bottomed at 9.85% in Q2 2022.
- The 5-year median for Net Margin is 12.15% (2023), against an average of 12.11%.
- The widest annual swing landed in 2024, when Net Margin plunged 284 bps; it then surged 314 bps in 2025.
- Tracing SPSC's Net Margin over 5 years: stood at 13.04% in 2022, then gained by 1 bps to 13.11% in 2023, then declined by 22 bps to 10.27% in 2024, then jumped by 31 bps to 13.41% in 2025, then slipped by 23 bps to 10.27% in 2026.
- Per Business Quant, the three latest SPSC Net Margin figures stand at 10.27% (Q1 2026), 13.41% (Q4 2025), and 13.46% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 253.17 Bn | 235.20 Bn | 8.16 Bn | 20.22% |
| 2 | Salesforce | 171.07 Bn | 161.50 Bn | 8.69 Bn | 17.47% |
| 3 | Uber Technologies | 147.39 Bn | 146.35 Bn | 11.88 Bn | 2.29% |
| 4 | Shopify | 134.25 Bn | 128.50 Bn | 1.55 Bn | -18.33% |
| 5 | ServiceNow | 105.72 Bn | 100.54 Bn | 2.83 Bn | 12.44% |
| 6 | Cadence Design Systems | 101.64 Bn | 100.23 Bn | 1.26 Bn | 22.77% |
| 7 | Adobe | 100.35 Bn | 93.46 Bn | 5.73 Bn | 29.52% |
| 8 | Automatic Data Processing | 90.91 Bn | 87.68 Bn | 2.87 Bn | 22.90% |
| 9 | Intuit | 88.30 Bn | 81.52 Bn | 6.77 Bn | 35.80% |
| 10 | Sps Commerce | 2.01 Bn | 1.85 Bn | 132.90 Mn | 10.27% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 10.27% |
| Dec 31, 2025 | 13.41% |
| Sep 30, 2025 | 13.46% |
| Jun 30, 2025 | 10.53% |
| Mar 31, 2025 | 12.23% |
| Dec 31, 2024 | 10.27% |
| Sep 30, 2024 | 14.33% |
| Jun 30, 2024 | 11.74% |
| Mar 31, 2024 | 12.04% |
| Dec 31, 2023 | 13.11% |
| Sep 30, 2023 | 12.41% |
| Jun 30, 2023 | 11.26% |
| Mar 31, 2023 | 12.15% |
| Dec 31, 2022 | 13.04% |
| Sep 30, 2022 | 13.86% |
| Jun 30, 2022 | 9.85% |
| Mar 31, 2022 | 11.98% |
| Dec 31, 2021 | 12.42% |
| Sep 30, 2021 | 11.70% |
| Jun 30, 2021 | 10.77% |
| Mar 31, 2021 | 11.32% |
| Dec 31, 2020 | 16.17% |
| Sep 30, 2020 | 14.34% |
| Jun 30, 2020 | 14.81% |
| Mar 31, 2020 | 12.82% |
| Dec 31, 2019 | 12.60% |
| Sep 30, 2019 | 12.61% |
| Jun 30, 2019 | 12.84% |
| Mar 31, 2019 | 10.18% |
| Dec 31, 2018 | 16.98% |
| Sep 30, 2018 | 12.82% |
| Jun 30, 2018 | 8.87% |
| Mar 31, 2018 | 5.51% |
| Dec 31, 2017 | 6.46% |
| Sep 30, 2017 | 3.88% |
| Jun 30, 2017 | 3.64% |
| Mar 31, 2017 | 5.75% |
| Dec 31, 2016 | 2.07% |
| Sep 30, 2016 | 5.09% |
| Jun 30, 2016 | 0.74% |
| Mar 31, 2016 | 2.29% |
| Dec 31, 2015 | 5.91% |
| Sep 30, 2015 | 3.15% |
| Jun 30, 2015 | 1.68% |
| Mar 31, 2015 | 1.59% |
| Dec 31, 2014 | 6.27% |
| Sep 30, 2014 | 2.58% |
| Jun 30, 2014 | 2.05% |
| Mar 31, 2014 | 1.29% |
| Dec 31, 2013 | 1.05% |
| Sep 30, 2013 | 1.00% |
| Jun 30, 2013 | 1.12% |
| Mar 31, 2013 | 0.84% |
| Dec 31, 2012 | 1.63% |
| Sep 30, 2012 | 0.86% |
| Jun 30, 2012 | 2.39% |
| Mar 31, 2012 | 1.55% |
| Dec 31, 2011 | 82.90% |
| Sep 30, 2011 | 1.14% |
| Jun 30, 2011 | -0.78% |
| Mar 31, 2011 | 3.89% |
| Dec 31, 2010 | 3.70% |
| Sep 30, 2010 | 7.71% |
| Jun 30, 2010 | 5.83% |