SPS Commerce Inc
SPS Commerce, Inc. provides cloud-based supply chain management solutions in the United States. The company offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, manufacturers, distributors, and logistics firm; and manages omnichannel, supply chain, and other business requirements. It also provides Fulfillment, a comprehensive solut… Read more
SPS Commerce Inc (SPSC) - Net Assets
Latest net assets as of December 2025: $973.89 Million USD
Based on the latest financial reports, SPS Commerce Inc (SPSC) has net assets worth $973.89 Million USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.17 Billion) and total liabilities ($195.97 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $973.89 Million |
| % of Total Assets | 83.25% |
| Annual Growth Rate | N/A |
| 5-Year Change | 101.11% |
| 10-Year Change | 290.7% |
| Growth Volatility | 28.84 |
SPS Commerce Inc - Net Assets Trend (2007–2025)
This chart illustrates how SPS Commerce Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for SPS Commerce Inc (2007–2025)
The table below shows the annual net assets of SPS Commerce Inc from 2007 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $973.89 Million | +13.95% |
| 2024-12-31 | $854.69 Million | +28.05% |
| 2023-12-31 | $667.48 Million | +24.28% |
| 2022-12-31 | $537.07 Million | +10.91% |
| 2021-12-31 | $484.26 Million | +15.10% |
| 2020-12-31 | $420.72 Million | +18.55% |
| 2019-12-31 | $354.88 Million | +11.26% |
| 2018-12-31 | $318.97 Million | +15.23% |
| 2017-12-31 | $276.82 Million | +11.05% |
| 2016-12-31 | $249.27 Million | +12.19% |
| 2015-12-31 | $222.19 Million | +8.33% |
| 2014-12-31 | $205.09 Million | +6.39% |
| 2013-12-31 | $192.77 Million | +42.99% |
| 2012-12-31 | $134.82 Million | +126.38% |
| 2011-12-31 | $59.55 Million | +36.88% |
| 2010-12-31 | $43.51 Million | +171.95% |
| 2009-12-31 | $-60.47 Million | +2.23% |
| 2008-12-31 | $-61.84 Million | -2.88% |
| 2007-12-31 | $-60.11 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to SPS Commerce Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 49435700000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $429.44 Million | 44.09% |
| Common Stock | $40.00K | 0.00% |
| Other Comprehensive Income | $-373.00K | -0.04% |
| Other Components | $544.79 Million | 55.94% |
| Total Equity | $973.89 Million | 100.00% |
SPS Commerce Inc Competitors by Market Cap
The table below lists competitors of SPS Commerce Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Katilimevim Tasaruf Finansman A.S.
IS:KTLEV
|
$2.25 Billion |
|
Newmark Group Inc
NASDAQ:NMRK
|
$2.25 Billion |
|
Teradata Corp
NYSE:TDC
|
$2.25 Billion |
|
Jilin Power Share Co Ltd
SHE:000875
|
$2.25 Billion |
|
Lineage, Inc. Common Stock
NASDAQ:LINE
|
$2.25 Billion |
|
TISCO Financial Group Public Company Limited
BK:TISCO
|
$2.25 Billion |
|
Inner Mongolia MengDian HuaNeng Thermal Power Corp Ltd
SHG:600863
|
$2.25 Billion |
|
Ascentage Pharma Group International
NASDAQ:AAPG
|
$2.25 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in SPS Commerce Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 854,690,000 to 973,893,000, a change of 119,203,000 (13.9%).
- Net income of 93,339,000 contributed positively to equity growth.
- Share repurchases of 114,277,000 reduced equity.
- Other comprehensive income increased equity by 9,310,000.
- Other factors increased equity by 130,831,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $93.34 Million | +9.58% |
| Share Repurchases | $114.28 Million | -11.73% |
| Other Comprehensive Income | $9.31 Million | +0.96% |
| Other Changes | $130.83 Million | +13.43% |
| Total Change | $- | 13.95% |
Book Value vs Market Value Analysis
This analysis compares SPS Commerce Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.36x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | $-3.16 | $60.43 | x |
| 2008-12-31 | $-105.18 | $60.43 | x |
| 2009-12-31 | $-3.26 | $60.43 | x |
| 2010-12-31 | $1.88 | $60.43 | x |
| 2011-12-31 | $2.34 | $60.43 | x |
| 2012-12-31 | $4.85 | $60.43 | x |
| 2013-12-31 | $6.05 | $60.43 | x |
| 2014-12-31 | $6.10 | $60.43 | x |
| 2015-12-31 | $6.52 | $60.43 | x |
| 2016-12-31 | $7.23 | $60.43 | x |
| 2017-12-31 | $7.97 | $60.43 | x |
| 2018-12-31 | $9.06 | $60.43 | x |
| 2019-12-31 | $9.86 | $60.43 | x |
| 2020-12-31 | $11.59 | $60.43 | x |
| 2021-12-31 | $13.10 | $60.43 | x |
| 2022-12-31 | $14.53 | $60.43 | x |
| 2023-12-31 | $17.81 | $60.43 | x |
| 2024-12-31 | $22.58 | $60.43 | x |
| 2025-12-31 | $25.63 | $60.43 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently SPS Commerce Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.58%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.42%
- • Asset Turnover: 0.64x
- • Equity Multiplier: 1.20x
- Recent ROE (9.58%) is above the historical average (5.88%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 0.00% | -8.56% | 1.22x | 0.00x | $3.86 Million |
| 2008 | 0.00% | -6.17% | 1.60x | 0.00x | $4.29 Million |
| 2009 | 0.00% | 3.08% | 1.72x | 0.00x | $7.21 Million |
| 2010 | 6.63% | 6.47% | 0.77x | 1.33x | $-1.47 Million |
| 2011 | 23.01% | 23.64% | 0.75x | 1.30x | $7.75 Million |
| 2012 | 0.91% | 1.58% | 0.48x | 1.18x | $-12.26 Million |
| 2013 | 0.55% | 1.01% | 0.47x | 1.16x | $-18.23 Million |
| 2014 | 1.32% | 2.11% | 0.52x | 1.19x | $-17.81 Million |
| 2015 | 2.09% | 2.93% | 0.61x | 1.18x | $-17.58 Million |
| 2016 | 2.29% | 2.95% | 0.65x | 1.20x | $-19.22 Million |
| 2017 | -0.88% | -1.11% | 0.66x | 1.21x | $-30.12 Million |
| 2018 | 7.48% | 9.62% | 0.64x | 1.21x | $-8.03 Million |
| 2019 | 9.50% | 12.08% | 0.62x | 1.26x | $-1.78 Million |
| 2020 | 10.84% | 14.58% | 0.59x | 1.25x | $3.51 Million |
| 2021 | 9.21% | 11.58% | 0.63x | 1.27x | $-3.83 Million |
| 2022 | 10.27% | 12.23% | 0.67x | 1.25x | $1.43 Million |
| 2023 | 9.86% | 12.26% | 0.65x | 1.23x | $-923.50K |
| 2024 | 9.02% | 12.08% | 0.62x | 1.21x | $-8.41 Million |
| 2025 | 9.58% | 12.42% | 0.64x | 1.20x | $-4.05 Million |
Industry Comparison
This section compares SPS Commerce Inc's net assets metrics with peer companies in the Software - Application industry.
Industry Context
- Industry: Software - Application
- Average net assets among peers: $1,558,090,989
- Average return on equity (ROE) among peers: -47.81%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SPS Commerce Inc (SPSC) | $973.89 Million | 0.00% | 0.20x | $2.25 Billion |
| Abaxx Technologies Inc (ABXXF) | $42.03 Million | -128.66% | 0.23x | $201.28 Million |
| Acceleware Ltd (ACWRF) | $2.15 Million | -4.58% | 1.86x | $8.62 Million |
| Adobe Systems Incorporated (ADBE) | $6.67 Billion | 12.49% | 0.51x | $104.01 Billion |
| Adcore Inc (ADCOF) | $9.73 Million | -22.96% | 0.49x | $3.03 Million |
| ADEIA CORP (ADEA) | $618.15 Million | -0.05% | 1.00x | $2.50 Billion |
| Automatic Data Processing Inc (ADP) | $6.19 Billion | 22.71% | 4.21x | $84.26 Billion |
| Autodesk Inc (ADSK) | $2.04 Billion | 12.11% | 1.11x | $48.93 Billion |
| Allied Security Innovations Inc (ADSV) | $445.50K | -270.60% | 3.60x | $0.93 |
| AudioEye Inc (AEYE) | $10.59 Million | -98.53% | 1.31x | $49.31 Million |
| Affinity Networks Inc (AFFN) | $-470.19K | 0.00% | 0.00x | $0.97 |