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 2,642 - -
Change - -9.58% 53.68% -2.83% -51.38% -21.4% - -
Enterprise Value (EV) 1 4,862 4,415 6,838 6,671 3,210 2,426 2,261 2,102
Change - -9.21% 54.9% -2.44% -51.89% -24.42% -6.78% -7.05%
P/E 118x 86.2x 110x 90.2x 36.2x 32.3x 22.6x 18.9x
PBR - - - - 3.43x 2.61x 2.17x 1.85x
PEG - 3.7x 6.1x 5.7x 1.8x -4.25x 0.5x 1x
Capitalization / Revenue 13.3x 10.3x 13.2x 10.8x 4.47x 3.34x 3.14x 2.93x
EV / Revenue 12.6x 9.79x 12.7x 10.5x 4.27x 3.07x 2.69x 2.33x
EV / EBITDA 45.4x 33.4x 43.4x 35.7x 13.9x 9.11x 7.68x 6.38x
EV / EBIT 52.4x 37.9x 49.2x 40x 15.3x 10.2x 8.52x 7.09x
EV / FCF 52.1x 55.1x 60.8x 48.6x 21.1x 13.2x 11.1x 9.22x
FCF Yield 1.92% 1.82% 1.65% 2.06% 4.74% 7.58% 8.99% 10.8%
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 92.78 116.3 138.9 167 209.2 238.2 265.4 296.6
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 73.38 73.38 73.38
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.($)
32.28x3.07x9.11x-.--% 2.64B
22.85x6.23x11.13x1.39% 423B
25.26x5.05x15.8x1.5% 237B
80.84x7.86x21.03x-.--% 129B
38.79x3.68x13.31x0.17% 48.98B
-635.39x83.08x716.03x-.--% 38.43B
27.59x10.93x17.84x-.--% 22.49B
36.89x2.38x21.7x-.--% 19.93B
26.35x3.77x12.7x - 13.87B
97.49x9.31x39.91x-.--% 14.2B
Average -24.71x 13.54x 87.86x 0.34% 95.06B
Weighted average by Cap. 7.14x 9.16x 43.08x 1.02%

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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