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% quarter-over-quarter from 13.41% in Q4 2025.
Sps Commerce (SPSC) Net Margin (2010 - 2026) Analysis & Trends
Sps Commerce (SPSC) has 17 years of Net Margin data on file, last reported at 10.27% in Q1 2026.
- Net Margin for Q1 2026 came in at 10.27%, down 196.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 11.92% (down 21.0% YoY), and the FY2025 annual result was 12.42%, up 34.0% from the prior year.
- Net Margin retreated to 10.27% in Q1 2026 per SPSC's latest filing, from 13.41% in the prior quarter.
- Over five years, Net Margin peaked at 14.33% in Q3 2024 and troughed at 9.85% in Q2 2022.
- A 5-year average of 12.11% and a median of 12.15% in 2023 frame the typical range for Net Margin.
- The sharpest annual moves came in 2024 and 2025: Net Margin slumped 284 bps in 2024, then jumped 314 bps in 2025.
- A 5-year view of Net Margin shows it stood at 13.04% in 2022, then climbed by 1 bps to 13.11% in 2023, then retreated by 22 bps to 10.27% in 2024, then soared by 31 bps to 13.41% in 2025, then declined by 23 bps to 10.27% in 2026.
- Business Quant data shows SPSC's Net Margin at 10.27% in Q1 2026, 13.41% in Q4 2025, and 13.46% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | 20.22% |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | - |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 2.29% |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | -18.33% |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 18.74% |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 22.77% |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 12.44% |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | 22.90% |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 25.87% |
| 10 | Sps Commerce | 2.05 Bn | 1.90 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% |