SPS Commerce Inc (SPSC) — Working Capital to Net Assets Ratio
SPS Commerce Inc (SPSC) has a Working Capital to Net Assets ratio of 19.6% as of June 2026. Working capital of $184.13 Million (current assets of $330.40 Million minus current liabilities of $146.26 Million) is measured against net assets of $938.48 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See how many days can SPS Commerce Inc fund operations to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
SPS Commerce Inc Working Capital to Net Assets (2007–2025)
This chart shows how SPS Commerce Inc's Working Capital to Net Assets ratio has evolved across 19 annual periods from 2007 to 2025. As of June 2026, the ratio stands at 19.6%, reflecting working capital of $184.13 Million against net assets of $938.48 Million USD. For the complete balance sheet picture, see SPSC current and non-current assets.
Annual Working Capital to Net Assets for SPS Commerce Inc (2007–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for SPS Commerce Inc from 2007 to 2025, covering 19 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. Check asset resilience ratio of SPS Commerce Inc to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 18.6% | $180.95 Million | $973.89 Million | $335.30 Million | $154.35 Million | ▼ -8.9 pp |
| 2024 | 27.5% | $235.22 Million | $854.69 Million | $381.91 Million | $146.68 Million | ▼ -13.0 pp |
| 2023 | 40.6% | $270.77 Million | $667.48 Million | $401.44 Million | $130.67 Million | ▲ +1.1 pp |
| 2022 | 39.5% | $212.17 Million | $537.07 Million | $322.81 Million | $110.64 Million | ▼ -12.0 pp |
| 2021 | 51.5% | $249.57 Million | $484.26 Million | $352.44 Million | $102.87 Million | ▲ +15.1 pp |
| 2020 | 36.4% | $153.24 Million | $420.72 Million | $233.37 Million | $80.13 Million | ▼ -26.6 pp |
| 2019 | 63.0% | $223.59 Million | $354.88 Million | $291.62 Million | $68.03 Million | ▲ +2.5 pp |
| 2018 | 60.5% | $193.09 Million | $318.97 Million | $249.62 Million | $56.52 Million | ▼ -3.2 pp |
| 2017 | 63.7% | $176.31 Million | $276.82 Million | $219.46 Million | $43.15 Million | ▲ +2.0 pp |
| 2016 | 61.7% | $153.77 Million | $249.27 Million | $185.93 Million | $32.16 Million | ▼ -2.5 pp |
| 2015 | 64.2% | $142.55 Million | $222.19 Million | $166.79 Million | $24.23 Million | ▼ -2.9 pp |
| 2014 | 67.1% | $137.63 Million | $205.09 Million | $162.19 Million | $24.56 Million | ▼ -4.0 pp |
| 2013 | 71.2% | $137.16 Million | $192.77 Million | $156.07 Million | $18.91 Million | ▲ +14.0 pp |
| 2012 | 57.1% | $77.04 Million | $134.82 Million | $91.51 Million | $14.47 Million | ▼ -4.6 pp |
| 2011 | 61.7% | $36.77 Million | $59.55 Million | $48.24 Million | $11.47 Million | ▼ -36.1 pp |
| 2010 | 97.8% | $42.55 Million | $43.51 Million | $51.64 Million | $9.09 Million | ▲ +106.0 pp |
| 2009 | -8.2% | $4.97 Million | $-60.47 Million | $16.26 Million | $11.29 Million | ▼ -2.4 pp |
| 2008 | -5.8% | $3.61 Million | $-61.84 Million | $13.12 Million | $9.51 Million | ▲ +1.7 pp |
| 2007 | -7.5% | $4.54 Million | $-60.11 Million | $13.82 Million | $9.28 Million | — |