Company Valuation: SPS Commerce, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,120 4,629 7,113 6,912 3,361 2,919 - -
Change - -9.58% 53.68% -2.83% -51.38% -13.14% - -
Enterprise Value (EV) 1 4,862 4,415 6,838 6,671 3,210 2,703 2,539 2,380
Change - -9.21% 54.9% -2.44% -51.89% -15.77% -6.08% -6.28%
P/E 118x 86.2x 110x 90.2x 36.2x 35.7x 25x 20.9x
PBR - - - - 3.43x 2.88x 2.4x 2.05x
PEG - 3.7x 6.1x 5.7x 1.8x -4.7x 0.6x 1.1x
Capitalization / Revenue 13.3x 10.3x 13.2x 10.8x 4.47x 3.69x 3.47x 3.24x
EV / Revenue 12.6x 9.79x 12.7x 10.5x 4.27x 3.42x 3.02x 2.64x
EV / EBITDA 45.4x 33.4x 43.4x 35.7x 13.9x 10.1x 8.63x 7.22x
EV / EBIT 52.4x 37.9x 49.2x 40x 15.3x 11.2x 9.45x 7.78x
EV / FCF 52.1x 55.1x 60.8x 48.6x 21.1x 14.7x 12.5x 10.4x
FCF Yield 1.92% 1.82% 1.65% 2.06% 4.74% 6.81% 8.01% 9.58%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 1.21 1.49 1.76 2.04 2.46 2.273 3.241 3.877
Distribution rate - - - - - - - -
Net sales 1 385.3 450.9 536.9 637.8 751.5 790.6 840.1 900.6
EBITDA 1 107 132.3 157.6 186.6 231.4 266.4 294.4 329.4
EBIT 1 92.78 116.3 138.9 167 209.2 241.8 268.6 305.9
Net income 1 44.6 55.13 65.82 77.05 93.34 83.8 120.7 143.6
Net Debt 1 -257.3 -214.3 -275.4 -241 -151.4 -215.8 -380.2 -539.7
Reference price 2 142.35 128.43 193.84 183.99 89.13 81.09 81.09 81.09
Nbr of stocks (in thousands) 35,964 36,042 36,698 37,568 37,709 36,000 - -
Announcement Date 09/02/22 09/02/23 08/02/24 10/02/25 12/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
35.68x3.42x10.15x-.--% 2.92B
22.9x6.2x11.08x1.39% 422B
26.71x5.34x16.79x1.42% 253B
83.17x8.09x21.65x-.--% 133B
37.85x3.55x13.06x0.18% 46.81B
-60.28x97.92x843.93x-.--% 45.82B
31.07x12.04x19.66x-.--% 25.33B
38.61x2.56x23.33x-.--% 21.18B
108.59x10.42x44.42x-.--% 15.75B
-648.41x3.84x12.85x - 14.05B
Average -32.41x 15.34x 101.69x 0.33% 98.01B
Weighted average by Cap. 21.22x 10.49x 54.07x 0.99%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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