Sps Commerce (SPSC) Operating Margin (2010 - 2026)
Sps Commerce's Operating Margin came in at 4.25% for Q2 2026, down 9.87 percentage points from 14.12% a year earlier and down 8.53 percentage points from the prior quarter.
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Analysis
Sps Commerce (SPSC) Operating Margin (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Sps Commerce reported Operating Margin of 12.80%, down 1.81 percentage points year-over-year; for FY2025, it came in at 15.74%, up 1.81 percentage points from FY2024.
- Operating Margin carries a five-year change of -0.30 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was 13.94% in FY2024 (-0.45 pp), 14.39% in FY2023 (-1.40 pp), 15.79% in FY2022 (+1.49 pp) and 14.30% in FY2021 (-1.75 pp).
- The Q2 2026 figure represents the lowest quarterly Operating Margin since Q4 2017.
- Year-over-year, Operating Margin increased in four of the last eight quarters, with an average year-over-year change of -0.61 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in Q1 2025 (a gain of 4.00 percentage points), and the weakest in Q2 2026 (a drop of 9.87 percentage points).
- Business Quant data shows SPSC's Operating Margin at 12.78% (Q1 2026), 18.00% (Q4 2025) and 16.42% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | - |
| 2 | Veeva Systems | 45.35 Bn | 17.59 Bn | 695.95 Mn | 29.64% |
| 3 | Samsara | 22.20 Bn | 18.97 Bn | 392.58 Mn | 0.96% |
| 4 | Toast | 17.53 Bn | 10.20 Bn | 516.00 Mn | 7.97% |
| 5 | Ptc | 15.47 Bn | 14.28 Bn | 490.47 Mn | 27.75% |
| 6 | Trimble | 13.41 Bn | 12.48 Bn | 674.90 Mn | 13.58% |
| 7 | Duolingo | 12.56 Bn | 7.73 Bn | 216.74 Mn | 11.37% |
| 8 | Manhattan Associates | 11.77 Bn | 10.77 Bn | 168.33 Mn | 22.24% |
| 9 | Costar | 10.95 Bn | 4.91 Bn | 728.00 Mn | 8.22% |
| 10 | Sps Commerce | 2.93 Bn | 2.32 Bn | 138.79 Mn | 4.25% |
Historic Data
Download Data
Historic 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% |
API Access
Sps Commerce Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=SPSC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "SPSC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=SPSC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();