SPS Commerce, Inc. Gross Margin History
SPSC / Information Technology|10 years of SEC 10-K data (FY2016-FY2025)
69.2% in FY2025 with a 5-year CAGR of +1.1%.
Improved from 66.1% to 69.2% over the past 2 years.
At 69.2%, SPS Commerce, Inc.'s gross margin ranks #73 of 213 in the Information Technology sector. Gross Margin has increased for 4 consecutive years, from 65.8% in FY2021 to 69.2% in FY2025.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score 3.46 (safe zone, above 2.9 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
- 3-Year Change
- +3.1pp
- 5-Year Change
- +1.1pp
- 10-Year Change
- -
Gross Margin Trend
#73 of 213 in Information TechnologyTop 34% of 213This company 69.2% Sector average 53.8%
▼
+28.5% above sector average
Key Insights
- SPS Commerce, Inc.'s gross margin has grown for 4 consecutive years.
- In FY2025, gross margin increased 3.3% year-over-year.
- Currently 15.4pp above the Information Technology sector average.
- Peak gross margin was recorded in FY2017.
Annual Data
| Year | Gross Margin | YoY Growth |
|---|---|---|
| FY2025 | 69.2% | +3.3% |
| FY2024 | 67.0% | +1.3% |
| FY2023 | 66.1% | +0.1% |
| FY2022 | 66.0% | +0.3% |
| FY2021 | 65.8% | -3.3% |
| FY2020 | 68.1% | +1.7% |
| FY2019 | 67.0% | -0.2% |
| FY2018 | 67.1% | -76.2% |
| FY2017 | 282.0% | +323.2% |
| FY2016 | 66.6% | -2.6% |
As of FY2025 · SEC 10-K · Updated Feb 28, 2026