Friday 6 November 2026 Export SPSC’s income statement to Excel — free account

SPS Commerce, Inc.

SPSC Technology Software Application

SPS Commerce, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $751.5 million, up 17.8% from fiscal 2024.

Revenue: +4.08%
EPS: +27.6%
Free cash flow: +7.23%

Quarter to September 2026, against a year earlier

82.46 2.78 −3.26%

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Market cap: $3.0B
P/E: 36.4×
Fwd P/E: 35.4×
Dividend yield: —
F-score: 6/9
Altman Z: 12.01
Beneish M: −2.50
Dividend safety: n/a

Overview

SPS Commerce, Inc. (SPSC) P/B ratio

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As of 5 November 2026, SPS Commerce, Inc. (SPSC) trades at a P/B ratio of 3.2×. Over the past ten years it has ranged from 1.9× (May 2026) to 13.2× (September 2021); the current reading is higher than 9% of that period. That is above the Software Application industry median of 2.6× and above the Technology sector median of 2.5×.

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<iframe src="https://stockrow.com/embed/SPSC/pb-ratio" width="100%" height="360" style="border:0" loading="lazy" title="SPS Commerce, Inc. P/B ratio, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/SPSC/metrics/pb-ratio">SPS Commerce, Inc. (SPSC) P/B ratio — stockrow.com</a></p>

Period	P/B ratio	Change
FY2025	3.5×	(56.83%)
FY2024	8.0×	(20.63%)
FY2023	10.1×	17.54%
FY2022	8.6×	(18.49%)
FY2021	10.6×	16.16%
FY2020	9.1×	66.23%
FY2019	5.5×	23.16%
FY2018	4.4×	52.78%
FY2017	2.9×	(38.46%)
FY2016	4.7×	(9.77%)

Period	P/B ratio	Change
Sep 2026	3.2×	42.55%
Jun 2026	2.2×	2.90%
Mar 2026	2.2×	(37.62%)
Dec 2025	3.5×	(15.76%)
43 more quarters	Free account

Against its own ten years

Low 1.9× High 13.2×

Ten-year median 5.6×

Current reading's percentile 10

Company	P/B ratio
FSLY Fastly, Inc. compare	2.5×
BULL Webull Corporation compare	2.5×
SPSC SPS Commerce, Inc.	3.2×
ALRM Alarm.com Holdings, Inc. compare	3.8×
VIA Via Transportation Inc. compare	5.0×
NATL NCR Atleos Corporation compare	6.2×
AGYS Agilysys, Inc. compare	9.4×
INTA Intapp, Inc. compare	10.9×
ASAN Asana, Inc. compare	24.7×
Software Application industry median	2.6×
Technology sector median	2.5×
Market median	1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

SPS Commerce, Inc. (SPSC) P/B ratio

P/B ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/B ratio against peers

What P/B ratio is

More on SPSC

P/B ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/B ratio against peers

What P/B ratio is

More on SPSC

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