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SPSC - SPS Commerce, Inc.

NASDAQ -> Technology -> Software—Infrastructure
Minneapolis, United States
Type: Equity

SPSC price evolution
SPSC
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Current assets
Cash $219.08 $178.7 $209.26 $182.3
Short term investments $56.36 $60.63 $60.91 $51.15
Net receivables $46.84 $45.14 $44.99 $43.44
Inventory
Total current assets $401.44 $359.74 $384.98 $346.38
Long term investments
Property, plant & equipment $43.91 $44.52 $43.18 $43.53
Goodwill & intangible assets $356.52 $355.64 $280.42 $283.54
Total noncurrent assets $422.4 $427.67 $350.56 $350.55
Total investments $56.36 $60.63 $60.91 $51.15
Total assets $823.84 $787.41 $735.54 $696.93
Current liabilities
Accounts payable $7.42 $6.2 $6.16 $5.34
Deferred revenue $76.12 $78.7 $72.11 $68.01
Short long term debt $4.46 $4.45 $4.07 $4.12
Total current liabilities $130.67 $132.87 $111.97 $106.96
Long term debt $9.57 $10.56 $11.06 $11.99
Total noncurrent liabilities $25.7 $27.69 $22.59 $24.08
Total debt $14.03 $15.01 $15.13 $16.11
Total liabilities $156.37 $160.56 $134.56 $131.04
Shareholders' equity
Retained earnings $259.05 $240.03 $223.19 $208.51
Other shareholder equity $0.22 -$4.65 -$1.84 -$3.48
Total shareholder equity $667.48 $626.84 $600.98 $565.89
(in millions $) 31 Dec 2023 31 Jan 2023 31 Dec 2021 31 Dec 2020
Current assets
Cash $219.08 $162.89 $207.55 $149.69
Short term investments $56.36 $51.41 $49.76 $37.79
Net receivables $46.84 $39.44 $34.56 $33.58
Inventory
Total current assets $401.44 $322.81 $352.44 $271.36
Long term investments $2.5
Property, plant & equipment $43.91 $44.63 $42.75 $42.01
Goodwill & intangible assets $356.52 $285.64 $202.25 $195.08
Total noncurrent assets $422.4 $350.1 $263.4 $255.1
Total investments $56.36 $51.41 $49.76 $40.29
Total assets $823.84 $672.91 $615.85 $526.46
Current liabilities
Accounts payable $7.42 $11.26 $8.33 $5.35
Deferred revenue $76.12 $62.19 $55.57 $40.94
Short long term debt $4.46 $4.28 $4.11 $2.8
Total current liabilities $130.67 $110.64 $102.87 $80.13
Long term debt $9.57 $13.01 $16.43 $19.67
Total noncurrent liabilities $25.7 $25.2 $28.71 $25.61
Total debt $14.03 $17.29 $20.53 $22.47
Total liabilities $156.37 $135.84 $131.59 $105.74
Shareholders' equity
Retained earnings $259.05 $193.22 $138.09 $93.49
Other shareholder equity $0.22 -$3.41 -$1.45 -$1.02
Total shareholder equity $667.48 $537.07 $484.26 $420.72
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Revenue
Total revenue $144.97 $135.66 $130.42 $125.87
Cost of revenue $49.04 $45.52 $44.54 $42.96
Gross Profit $95.92 $90.14 $85.87 $82.9
Operating activities
Research & development $14.22 $13.56 $13.32 $12.56
Selling, general & administrative $53.83 $52.2 $52.04 $49.76
Total operating expenses $73.04 $69.54 $68.84 $66.17
Operating income $22.89 $20.6 $17.03 $16.73
Income from continuing operations
EBIT $26.34 $22.3 $18.91 $18.01
Income tax expense $7.33 $5.46 $4.23 $2.72
Interest expense
Net income
Net income $19.01 $16.84 $14.68 $15.29
Income (for common shares) $19.01 $16.84 $14.68 $15.29
(in millions $) 31 Dec 2023 31 Dec 2022 31 Dec 2021 31 Dec 2020
Revenue
Total revenue $536.91 $450.88 $385.28 $312.63
Cost of revenue $182.07 $153.06 $131.68 $99.84
Gross Profit $354.84 $297.81 $253.6 $212.79
Operating activities
Research & development $53.65 $45.75 $39.04 $31.02
Selling, general & administrative $207.82 $169.11 $149.35 $126.07
Total operating expenses $277.59 $226.63 $198.51 $162.64
Operating income $77.25 $71.18 $55.09 $50.16
Income from continuing operations
EBIT $85.56 $71.32 $53.54 $52.68
Income tax expense $19.74 $16.19 $8.94 $7.09
Interest expense
Net income
Net income $65.82 $55.13 $44.6 $45.59
Income (for common shares) $65.82 $55.13 $44.6 $45.59
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Net income $19.01 $16.84 $14.68 $15.29
Operating activities
Depreciation $9.66 $8.46 $8.14 $8.48
Business acquisitions & disposals -$70.22
Stock-based compensation $9.41 $11.44 $12.88 $11.78
Total cash flows from operations $32.79 $43.84 $34.04 $21.63
Investing activities
Capital expenditures -$4.29 -$5.7 -$4.51 -$5.26
Investments $5.1 $0.82 -$9.25 $0.67
Total cash flows from investing $0.81 -$75.1 -$13.76 -$4.59
Financing activities
Dividends paid
Sale and purchase of stock $7.96 $1.05 $6.53 $2.42
Net borrowings
Total cash flows from financing $5.96 $1.05 $6.53 $2.42
Effect of exchange rate $0.82 -$0.35 $0.15 -$0.06
Change in cash and equivalents $40.38 -$30.56 $26.96 $19.41
(in millions $) 31 Dec 2023 31 Dec 2022 31 Dec 2021 31 Dec 2020
Net income $65.82 $55.13 $44.6 $45.59
Operating activities
Depreciation $34.75 $28.19 $24.91 $18.66
Business acquisitions & disposals -$70.22 -$91.42 -$17.07 -$98.67
Stock-based compensation $45.51 $33.4 $27.57 $18.94
Total cash flows from operations $132.3 $100.05 $112.89 $88.56
Investing activities
Capital expenditures -$19.76 -$19.88 -$19.59 -$16.47
Investments -$2.66 -$1.49 -$10.05 -$5.34
Total cash flows from investing -$92.64 -$112.79 -$46.7 -$120.47
Financing activities
Dividends paid
Sale and purchase of stock $17.97 -$31.63 -$6.32 $3.02
Net borrowings
Total cash flows from financing $15.97 -$31.63 -$8.36 $2.33
Effect of exchange rate $0.56 -$0.29 $0.03 $0.02
Change in cash and equivalents $56.19 -$44.66 $57.86 -$29.56
Fundamentals
Market cap $6.79B
Enterprise value $6.58B
Shares outstanding 36.70M
Revenue $536.91M
EBITDA $120.31M
EBIT $85.56M
Net Income $65.82M
Revenue Q/Q 18.81%
Revenue Y/Y 19.08%
P/E ratio 103.08
EV/Sales 12.26
EV/EBITDA 54.69
EV/EBIT 76.91
P/S ratio 12.64
P/B ratio 10.17
Book/Share 18.18
Cash/Share 5.97
EPS $1.79
ROA 8.65%
ROE 10.70%
Debt/Equity 0.23
Net debt/EBITDA -0.52
Current ratio 3.07
Quick ratio 3.07