SPSCSPS Commerce, Inc.

Technology

$84.53-21% 1Y

$84.53

$49.9152 weeks$113.04

Is the price fair?

Excellent

Undemanding: modest expectations priced in, cheap against its own history, and cheap vs its sector.

3 good

What the price assumes~−3% a yearderived · Jun 30, 2026

Priced for a decline (~−3% a year). The price demands less than its three-year revenue growth of 16% a year, expectations look modest.

Vs its own P/E rangecheaper than 92% of its own historyderived

Cheap vs its own history: P/E 40.6 vs a 87.9 median over 38 quarters (−54% vs median).

Vs sector (EV/EBIT)16.0×derived · Dec 31, 2025

Sector median 30.5× across 203 covered peers. EV/EBIT counts debt as part of the price, so a cash-rich and a borrowed company can be compared on the same footing.

Against the whole market›

Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.

P/E (valuation)behind 81% of the market

FCF yieldbetter than 84% of the market

Where this answer is blind. The growth-implied estimate assumes a fixed discount rate; capital-heavy sectors look structurally rich on it.

What SPSC's price assumes

SPS Commerce, Inc. trades at 40.6× earnings against 33.9× for the median Software - Application name, more expensive than its own group.

40.6

Trailing P/E · Software - Application median 33.9 · 1.20× the median: the market pays up for this one

Price / sales: 2.72
Price / sales · today's price, fiscal year to Dec 31, 2025
Free cash flow yield: 9.7%
Free cash flow yield · Software - Application median 6.9%
Growth the price implies: −3.2%
Growth the price implies · The price pays for −3.2% free cash flow growth a year for a decade; the business has delivered +27% a year over the last three.