Sps Commerce (SPSC) Net Margin (2010 - 2026)
Sps Commerce (SPSC) posted quarterly Net Margin of 3.47% for Q2 2026, down 706.0% year-over-year from 0.57% in Q2 2025, and down 66.21% quarter-over-quarter from 10.27% in Q1 2026.
Sps Commerce (SPSC) Net Margin (2010 - 2026) Analysis & Trends
Sps Commerce (SPSC) has reported Net Margin for 17 consecutive years, with 3.47% the latest figure, recorded in Q2 2026.
- In Q2 2026, Net Margin fell 706.0% year-over-year to 3.47%; the TTM figure through Jun 2026 stood at 10.1% (down 169.0% YoY), while the FY2025 annual figure was 12.42%, up 34.0% from the prior year.
- Net Margin retreated to 3.47% in Q2 2026 per SPSC's latest filing, from 10.27% in the prior quarter.
- Across five years, Net Margin topped out at 14.33% in Q3 2024 and bottomed at 3.47% in Q2 2026.
- Historically, Net Margin has averaged 11.63% across 5 years, with a median of 12.09% in 2023.
- Annual changes were most pronounced in 2025 — Net Margin jumped 314 bps — and 2026, when it sank 706 bps.
- Sps Commerce's Net Margin stood at 13.04% in 2022, then grew by 1 bps to 13.11% in 2023, then decreased by 22 bps to 10.27% in 2024, then jumped by 31 bps to 13.41% in 2025, then slumped by 74 bps to 3.47% in 2026.
- Business Quant data shows SPSC's Net Margin at 3.47% in Q2 2026, 10.27% in Q1 2026, and 13.41% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | 21.16% |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 41.92% |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 18.93% |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 17.17% |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 7.47% |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | -21.25% |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 17.88% |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 25.87% |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 35.80% |
| 10 | Sps Commerce | 2.87 Bn | 2.70 Bn | 138.79 Mn | 3.47% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 3.47% |
| 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% |