SPS Commerce (SPSC) Stock Analysis & Winston Score

SPS Commerce, Inc. provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships. The company also provides Fulfillment solution that provides fulfillment automation and replaces or augments an organization's existing staff and

Winston Score History

Politician Trades

2 trades / 12mo

1 Congressional buy and 1 sell on SPSC in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+5.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-8.6% YoY

YoY Growth Rate

Earnings declining

Insider Activity

1.2%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$154M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

SPS Commerce is growing revenue at 6% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

64.3%

Premium pricing power — 64.3% gross margin

Operating Margin

12.8%

Healthy — 12.8% operating margin

ROCE

2.6%

Weak — 2.6% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+13.8%

Fast-growing sales (13.8% YoY)

EPS YoY

+11.1%

Earnings growing (11.1% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

214%

Turns 214% of profit into real cash

FCF Margin

21.9%

Converts sales into free cash efficiently (21.9%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

26.3x

no trend

Growth-priced — P/E 26.3

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+15.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (26.3 → 10.9)

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Dividends

Not applicable for this business.

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