SPS Commerce Inc (SPSC) — Working Capital to Net Assets Ratio
SPS Commerce Inc (SPSC) has a Working Capital to Net Assets ratio of 18.1% as of March 2026. Working capital of $173.79 Million (current assets of $328.74 Million minus current liabilities of $154.95 Million) is measured against net assets of $962.16 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See SPS Commerce Inc (SPSC) net asset quality to measure how much of total assets are equity-financed.
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 March 2026, the ratio stands at 18.1%, reflecting working capital of $173.79 Million against net assets of $962.16 Million USD. Check SPSC goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
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. For live market cap and the full company profile, see SPS Commerce Inc stock valuation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 11.7% | $114.26 Million | $973.89 Million | $268.61 Million | $154.35 Million | ▼ -15.8 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 | — |