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SPS Commerce Valuation Multiples
Discover revenue and EBITDA valuation multiples for SPS Commerce and similar public comparables like GigaCloud Technology, GuoChuang Software, Kinaxis, New Trend International Logis-Tech and more.
SPS Commerce Overview
About SPS Commerce
SPS Commerce Inc is a provider of cloud-based supply chain management services for retailers, grocers, distributors, suppliers, and logistics firms to increase supply chain performance, optimize inventory levels and sell-through, reduce operational costs, improve order visibility, and satisfy consumer demands for a seamless omnichannel experience. Its solutions are delivered through the SPS Commerce platform and provide integrations and retail performance analytics to its customers. The company has one operating segment Supply Chain Management Solutions, that derives revenues from customers by providing access to cloud-based supply chain management services, primarily under subscription-based service arrangements.
Founded
1987
HQ
Employees
2.9K
Website
Financials (LTM)
EV
$2B
SPS Commerce Financials
SPS Commerce reported last 12-month revenue of $767M and EBITDA of $241M.
In the same LTM period, SPS Commerce generated $542M in gross profit, $241M in EBITDA, and $165M in net income.
Revenue (LTM)
SPS Commerce P&L
In the most recent fiscal year, SPS Commerce reported revenue of $752M and EBITDA of $231M.
SPS Commerce expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $767M | XXX | $752M | XXX | XXX | XXX |
| Gross Profit | $542M | XXX | $520M | XXX | XXX | XXX |
| Gross Margin | 71% | XXX | 69% | XXX | XXX | XXX |
| EBITDA | $241M | XXX | $231M | XXX | XXX | XXX |
| EBITDA Margin | 31% | XXX | 31% | XXX | XXX | XXX |
| EBIT Margin | 29% | XXX | 28% | XXX | XXX | XXX |
| Net Profit | $165M | XXX | $162M | XXX | XXX | XXX |
| Net Margin | 22% | XXX | 22% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
SPS Commerce Stock Performance
SPS Commerce has current market cap of $2B, and enterprise value of $2B.
Market Cap Evolution
SPS Commerce's stock price is $57.62.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $2B | $2B | -0.0% | XXX | XXX | XXX | $4.39 |
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Start Free TrialSPS Commerce Valuation Multiples
SPS Commerce trades at 2.6x EV/Revenue multiple, and 8.2x EV/EBITDA.
EV / Revenue (LTM)
SPS Commerce Financial Valuation Multiples
As of April 20, 2026, SPS Commerce has market cap of $2B and EV of $2B.
Equity research analysts estimate SPS Commerce's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
SPS Commerce has a P/E ratio of 12.9x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $2B | XXX | $2B | XXX | XXX | XXX |
| EV (current) | $2B | XXX | $2B | XXX | XXX | XXX |
| EV/Revenue | 2.6x | XXX | 2.6x | XXX | XXX | XXX |
| EV/EBITDA | 8.2x | XXX | 8.6x | XXX | XXX | XXX |
| EV/EBIT | 9.1x | XXX | 9.5x | XXX | XXX | XXX |
| EV/Gross Profit | 3.7x | XXX | 3.8x | XXX | XXX | XXX |
| P/E | 12.9x | XXX | 13.1x | XXX | XXX | XXX |
| EV/FCF | 12.3x | XXX | 13.0x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified SPS Commerce Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
SPS Commerce Margins & Growth Rates
SPS Commerce's revenue in the last 12 month grew by 7%.
SPS Commerce's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.
SPS Commerce's rule of 40 is 40% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
SPS Commerce's rule of X is 50% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
SPS Commerce Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 7% | XXX | 7% | XXX | XXX | XXX |
| EBITDA Margin | 31% | XXX | 31% | XXX | XXX | XXX |
| EBITDA Growth | 14% | XXX | 14% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 40% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 50% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 21% | XXX | 23% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 14% | XXX | 17% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 8% | XXX | 9% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 53% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
SPS Commerce Public Comps
See public comps and valuation multiples for other Supply Chain Management Software comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| SPS Commerce | XXX | XXX | XXX | XXX | XXX | XXX |
| GigaCloud Technology | XXX | XXX | XXX | XXX | XXX | XXX |
| GuoChuang Software | XXX | XXX | XXX | XXX | XXX | XXX |
| Kinaxis | XXX | XXX | XXX | XXX | XXX | XXX |
| New Trend International Logis-Tech | XXX | XXX | XXX | XXX | XXX | XXX |
| Infomart | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
SPS Commerce M&A Activity
SPS Commerce acquired XXX companies to date.
Last acquisition by SPS Commerce was on XXXXXXXX, XXXXX. SPS Commerce acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by SPS Commerce
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialSPS Commerce Investment Activity
SPS Commerce invested in XXX companies to date.
SPS Commerce made its latest investment on XXXXXXXX, XXXXX. SPS Commerce invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by SPS Commerce
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout SPS Commerce
| When was SPS Commerce founded? | SPS Commerce was founded in 1987. |
| Where is SPS Commerce headquartered? | SPS Commerce is headquartered in United States. |
| How many employees does SPS Commerce have? | As of today, SPS Commerce has over 2K employees. |
| Who is the CEO of SPS Commerce? | SPS Commerce's CEO is Chadwick Collins. |
| Is SPS Commerce publicly listed? | Yes, SPS Commerce is a public company listed on Nasdaq. |
| What is the stock symbol of SPS Commerce? | SPS Commerce trades under SPSC ticker. |
| When did SPS Commerce go public? | SPS Commerce went public in 2010. |
| Who are competitors of SPS Commerce? | SPS Commerce main competitors are GigaCloud Technology, GuoChuang Software, Kinaxis, New Trend International Logis-Tech. |
| What is the current market cap of SPS Commerce? | SPS Commerce's current market cap is $2B. |
| What is the current revenue of SPS Commerce? | SPS Commerce's last 12 months revenue is $767M. |
| What is the current revenue growth of SPS Commerce? | SPS Commerce revenue growth (NTM/LTM) is 7%. |
| What is the current EV/Revenue multiple of SPS Commerce? | Current revenue multiple of SPS Commerce is 2.6x. |
| Is SPS Commerce profitable? | Yes, SPS Commerce is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of SPS Commerce? | SPS Commerce's last 12 months EBITDA is $241M. |
| What is SPS Commerce's EBITDA margin? | SPS Commerce's last 12 months EBITDA margin is 31%. |
| What is the current EV/EBITDA multiple of SPS Commerce? | Current EBITDA multiple of SPS Commerce is 8.2x. |
| What is the current FCF of SPS Commerce? | SPS Commerce's last 12 months FCF is $162M. |
| What is SPS Commerce's FCF margin? | SPS Commerce's last 12 months FCF margin is 21%. |
| What is the current EV/FCF multiple of SPS Commerce? | Current FCF multiple of SPS Commerce is 12.3x. |
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