SPS Commerce Inc (SPSC) — Tangible Net Worth Ratio
SPS Commerce Inc (SPSC) has a Tangible Net Worth Ratio of 81.6% as of June 2026. This metric is calculated by deducting intangible assets ($172.45 Million) from net assets ($938.48 Million) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. Also explore how fast is SPS Commerce Inc growing its equity to track the company's year-over-year net asset growth rate.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
SPS Commerce Inc Tangible Net Worth Ratio (2010–2025)
This chart shows how SPS Commerce Inc's Tangible Net Worth Ratio has changed across 16 annual periods from 2010 to 2025. As of June 2026, the ratio stands at 81.6%, reflecting net assets of $938.48 Million with intangible assets of $172.45 Million USD. For live market cap and overall valuation, see SPS Commerce Inc (SPSC) market capitalisation.
Annual Tangible Net Worth Ratio for SPS Commerce Inc (2010–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for SPS Commerce Inc from 2010 to 2025, covering 16 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. Explore capital reinvestment ratio of SPS Commerce Inc to see what proportion of operating cash flow is directed to capital expenditures.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 77.8% | $973.89 Million | $215.81 Million | $1.17 Billion | ▼ -0.9 pp |
| 2024 | 78.8% | $854.69 Million | $181.29 Million | $1.03 Billion | ▼ -5.1 pp |
| 2023 | 83.9% | $667.48 Million | $107.34 Million | $823.84 Million | ▲ +0.4 pp |
| 2022 | 83.5% | $537.07 Million | $88.35 Million | $672.91 Million | ▼ -4.4 pp |
| 2021 | 87.9% | $484.26 Million | $58.59 Million | $615.85 Million | ▲ +2.2 pp |
| 2020 | 85.7% | $420.72 Million | $60.23 Million | $526.46 Million | ▼ -7.9 pp |
| 2019 | 93.6% | $354.88 Million | $22.67 Million | $447.44 Million | ▲ +0.7 pp |
| 2018 | 92.9% | $318.97 Million | $22.74 Million | $386.12 Million | ▼ -1.2 pp |
| 2017 | 94.0% | $276.82 Million | $16.53 Million | $335.52 Million | ▲ +2.0 pp |
| 2016 | 92.1% | $249.27 Million | $19.79 Million | $298.37 Million | ▼ -1.2 pp |
| 2015 | 93.2% | $222.19 Million | $15.08 Million | $261.73 Million | ▲ +2.4 pp |
| 2014 | 90.8% | $205.09 Million | $18.85 Million | $243.78 Million | ▼ -0.3 pp |
| 2013 | 91.1% | $192.77 Million | $17.08 Million | $223.33 Million | ▲ +6.2 pp |
| 2012 | 85.0% | $134.82 Million | $20.24 Million | $159.20 Million | ▼ -5.3 pp |
| 2011 | 90.3% | $59.55 Million | $5.77 Million | $77.62 Million | ▼ -9.0 pp |
| 2010 | 99.3% | $43.51 Million | $290.00K | $57.88 Million | — |