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SPSC

SPS Commerce, Inc.

Technology · $3.0B market cap

Verdict

Share price

$82.35

close of Oct 3, 2026

Fair value

$56.32

Sticker Price

Payback Price

$22.53

buy price

Overpriced

SPSC is Overpriced: at $82.35 it trades 46% above its fair value of $56.32. Its buy price (Payback Price) is $22.53, 73% below today's price. Business quality is strong: 4 of 5 key numbers clear the 10% bar.

How we valued it

Buffett Normalized. A profitable, growing business, so we project its earnings 10 years ahead and work out what that is worth today.

Business quality

4 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth18.6% a year✓
Equity per share growth13.1% a year✓
Sales growth17.7% a year✓
Free cash flow growth23.8% a year✓
Return on invested capital8.3%✗

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About SPS Commerce, Inc.

SPS Commerce, Inc. delivers comprehensive, cloud-based solutions for supply chain management across the globe. The company's central offering is its "SPS Commerce" platform, an advanced system that enhances operations for retailers, suppliers, grocers, distributors, and logistics firms. This platform allows these businesses to streamline the management and fulfillment of omnichannel orders, boost sell-through…

Software - Application

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works