Sps Commerce (SPSC) Operating Margin (2010 - 2026)
Sps Commerce (SPSC) reported Operating Margin of 12.78% for Q1 2026, down 151.0% year-over-year from 25.06% in Q1 2025, and down 29.0% on a QoQ basis from 18.0% in Q4 2025.
Sps Commerce (SPSC) has 17 years of Operating Margin data on file, last reported at 12.78% in Q1 2026.
- Quarterly Operating Margin fell 151.0% year-over-year to 12.78% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 15.34% (up 49.0% YoY) and the FY2025 annual result came in at 15.74%, up 181.0% from the prior year.
- Operating Margin eased to 12.78% in Q1 2026 per SPSC's latest filing, from 18.0% in the prior quarter.
- Across five years, Operating Margin topped out at 18.0% in Q4 2025 and bottomed at 10.3% in Q1 2024.
- The 5-year median for Operating Margin is 15.08% (2024), against an average of 14.8%.
- The widest annual swing landed in 2024, when Operating Margin slumped 299 bps; it then soared 400 bps in 2025.
- Tracing SPSC's Operating Margin over 5 years: stood at 15.58% in 2022, then gained by 1 bps to 15.79% in 2023, then slipped by 8 bps to 14.48% in 2024, then climbed by 24 bps to 18.0% in 2025, then dropped by 29 bps to 12.78% in 2026.
- Per Business Quant, the three latest SPSC Operating Margin figures stand at 12.78% (Q1 2026), 18.0% (Q4 2025), and 16.42% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 253.17 Bn | 235.20 Bn | 8.16 Bn | 28.69% |
| 2 | Salesforce | 171.07 Bn | 161.50 Bn | 8.69 Bn | 16.69% |
| 3 | Uber Technologies | 147.39 Bn | 146.35 Bn | 11.88 Bn | 14.56% |
| 4 | Shopify | 134.25 Bn | 128.50 Bn | 1.55 Bn | 12.05% |
| 5 | ServiceNow | 105.72 Bn | 100.54 Bn | 2.83 Bn | 13.34% |
| 6 | Cadence Design Systems | 101.64 Bn | 100.23 Bn | 1.26 Bn | 29.26% |
| 7 | Adobe | 100.35 Bn | 93.46 Bn | 5.73 Bn | 37.79% |
| 8 | Automatic Data Processing | 90.91 Bn | 87.68 Bn | 2.87 Bn | -22.99% |
| 9 | Intuit | 88.30 Bn | 81.52 Bn | 6.77 Bn | 46.97% |
| 10 | Sps Commerce | 2.01 Bn | 1.85 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% |
| Mar 31, 2021 | 14.05% |
| Dec 31, 2020 | 16.27% |
| Sep 30, 2020 | 17.54% |
| Jun 30, 2020 | 14.70% |
| Mar 31, 2020 | 15.55% |
| Dec 31, 2019 | 14.80% |
| Sep 30, 2019 | 15.41% |
| Jun 30, 2019 | 13.61% |
| Mar 31, 2019 | 11.02% |
| Dec 31, 2018 | 12.59% |
| Sep 30, 2018 | 13.13% |
| Jun 30, 2018 | 9.76% |
| Mar 31, 2018 | 7.28% |
| Dec 31, 2017 | 0.50% |
| Sep 30, 2017 | 5.98% |
| Jun 30, 2017 | 5.46% |
| Mar 31, 2017 | 6.51% |
| Dec 31, 2016 | 5.20% |
| Sep 30, 2016 | 5.42% |
| Jun 30, 2016 | 1.86% |
| Mar 31, 2016 | 2.88% |
| Dec 31, 2015 | 6.64% |
| Sep 30, 2015 | 5.60% |
| Jun 30, 2015 | 2.64% |
| Mar 31, 2015 | 2.49% |
| Dec 31, 2014 | 4.00% |
| Sep 30, 2014 | 4.17% |
| Jun 30, 2014 | 3.26% |
| Mar 31, 2014 | 2.07% |
| Dec 31, 2013 | 2.59% |
| Sep 30, 2013 | 1.37% |
| Jun 30, 2013 | 1.88% |
| Mar 31, 2013 | 0.82% |
| Dec 31, 2012 | 1.00% |
| Sep 30, 2012 | 0.68% |
| Jun 30, 2012 | 4.21% |
| Mar 31, 2012 | 2.78% |
| Dec 31, 2011 | 2.52% |
| Sep 30, 2011 | 1.74% |
| Jun 30, 2011 | -0.29% |
| Mar 31, 2011 | 4.01% |
| Dec 31, 2010 | 3.71% |
| Sep 30, 2010 | 7.55% |
| Jun 30, 2010 | 6.20% |