Sps Commerce (SPSC) Operating Margin (2010 - 2026)
Sps Commerce (SPSC) posted quarterly Operating Margin of 4.25% for Q2 2026, down 987.0% year-over-year from 0.48% in Q2 2025, and down 66.73% quarter-over-quarter from 12.78% in Q1 2026.
Sps Commerce (SPSC) Operating Margin (2010 - 2026) Analysis & Trends
Sps Commerce (SPSC) has reported Operating Margin for 17 consecutive years, with 4.25% the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Margin fell 987.0% year-over-year to 4.25%; the TTM figure through Jun 2026 stood at 12.8% (down 181.0% YoY), while the FY2025 annual figure was 15.74%, up 181.0% from the prior year.
- Operating Margin declined to 4.25% in Q2 2026 per SPSC's latest filing, from 12.78% in the prior quarter.
- Across five years, Operating Margin topped out at 18.0% in Q4 2025 and bottomed at 4.25% in Q2 2026.
- Historically, Operating Margin has averaged 14.21% across 5 years, with a median of 14.85% in 2022.
- Annual changes were most pronounced in 2025 — Operating Margin surged 400 bps — and 2026, when it sank 987 bps.
- Sps Commerce's Operating Margin stood at 15.58% in 2022, then grew by 1 bps to 15.79% in 2023, then fell by 8 bps to 14.48% in 2024, then rose by 24 bps to 18.0% in 2025, then tumbled by 76 bps to 4.25% in 2026.
- Business Quant data shows SPSC's Operating Margin at 4.25% in Q2 2026, 12.78% in Q1 2026, and 18.0% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | 27.70% |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 13.62% |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 21.08% |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 13.32% |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 4.06% |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | -23.45% |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | -33.33% |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 33.82% |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 46.97% |
| 10 | Sps Commerce | 2.87 Bn | 2.70 Bn | 138.79 Mn | 4.25% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 4.25% |
| 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% |