SPS Commerce (MIL:1SPSC) EBIT: €105.1 Mil (TTM As of Jun. 2026)

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MIL:1SPSC SPS Commerce Inc MIL:1SPSC
67 GF Score
Price €67.64
GF Value €151.92
Valuation Significantly Undervalued
! 1 Warning Sign
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What is SPS Commerce EBIT?

SPS Commerce MIL:1SPSC 67 EBIT is €105.1 Mil as of Jun. 2026. GuruFocus rates MIL:1SPSC with a GF Score™ of 67/100 and a GF Value™ of €151.92 (Significantly Undervalued). The stock has 1 warning sign investors should review.

SPS Commerce's earnings before interest and taxes (EBIT) for the three months ended in Jun. 2026 was €27.7 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2026 was €105.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. SPS Commerce's annualized ROC % for the quarter that ended in Jun. 2026 was 8.84%. SPS Commerce's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 190.49%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. SPS Commerce's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 4.44%.


SPS Commerce  (MIL:1SPSC) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

SPS Commerce's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=110.644 * ( 1 - 34.06% )/( (845.048 + 805.397)/ 2 )
=72.9586536/825.2225
=8.84 %

where

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1004.445 - 25.953 - ( 133.444 - max(0, 134.032 - 284.36+133.444))
=845.048

Invested Capital(Q: Jun. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=976.872 - 21.166 - ( 150.309 - max(0, 126.955 - 286.784+150.309))
=805.397

Note: The Operating Income data used here is four times the quarterly (Jun. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

SPS Commerce's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=110.644/( ( (44.124 + max(18.543, 0)) + (42.642 + max(10.857, 0)) )/ 2 )
=110.644/( ( 62.667 + 53.499 )/ 2 )
=110.644/58.083
=190.49 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(56.317 + 0 + 94.599) - (25.953 + 69.53 + 36.89)
=18.543

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(55.28 + 0 + 81.195) - (21.166 + 70.193 + 34.259)
=10.857

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

SPS Commerce's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Jun. 2026 )
=105.102/2368.675
=4.44 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


SPS Commerce EBIT Related Terms


SPS Commerce EBIT Historical Data

* Premium members only.

The historical data trend for SPS Commerce's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

SPS Commerce EBIT Chart

SPS Commerce Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 48.75 67.20 70.84 84.88 101.03

SPS Commerce Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 22.95 26.58 29.62 21.24 27.66

MIL:1SPSC vs PLUS, PDFS, INTA: EBIT Comparison

For the Software - Application subindustry, SPS Commerce's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


SPS Commerce EV-to-EBIT vs Software Industry

For the Software industry and Technology sector, SPS Commerce's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where SPS Commerce's EV-to-EBIT falls into.


MIL:1SPSC
67GF Score
SPS Commerce Inc MIL:1SPSC
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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SPS Commerce EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €105.1 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of €105.1 Mil mean?
SPS Commerce (MIL:1SPSC) has a EBIT of €105.1 Mil as of Jun. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on SPS Commerce.
Is SPS Commerce's EBIT too high?
SPS Commerce's current EBIT is €105.1 Mil. Overall, SPS Commerce has a GF Score™ of 67/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SPS Commerce's EBIT compare to PLUS and PDFS?
SPS Commerce's EBIT of €105.1 Mil can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Software company?
A good EBIT depends on the Software industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on SPS Commerce. SPS Commerce's current EBIT is €105.1 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SPS Commerce stock overvalued right now?
Based on GuruFocus' analysis, SPS Commerce (MIL:1SPSC) is currently considered Significantly Undervalued. The stock's GF Value™ is €151.92, compared to a current price of €67.64 — trading 55.5% below its estimated fair value. The current EBIT is €105.1 Mil. SPS Commerce's overall GF Score™ is 67/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For SPS Commerce (MIL:1SPSC), the current EBIT is €105.1 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is SPS Commerce (MIL:1SPSC) Overvalued in 2026?

Based on GuruFocus' analysis, SPS Commerce stock appears to be undervalued. The current stock price of €67.64 is trading 55.5% below its estimated GF Value™ of €151.92. GuruFocus considers SPS Commerce to be Significantly Undervalued.

Key valuation signals for MIL:1SPSC:

  • EBIT: €105.1 Mil
  • GF Value™: €151.92 vs. price of €67.64 (55.5% below fair value)
  • GF Score™: 67/100 with 1 warning sign

No single metric tells the full story. See the MIL:1SPSC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


SPS Commerce Business Description

Other Exchanges SPSC:USAS86:Germany
Address 333 South Seventh Street, Suite 1000, Minneapolis, MN, USA, 55402
SPS Commerce Inc is a provider of cloud-based supply chain management services for retailers, grocers, distributors, suppliers, and logistics firms to increase supply chain performance, optimize inventory levels and sell-through, reduce operational costs, improve order visibility, and satisfy consumer demands for a seamless omnichannel experience. Its solutions are delivered through the SPS Commerce platform and provide integrations and retail performance analytics to its customers. The company has one operating segment Supply Chain Management Solutions, that derives revenues from customers by providing access to cloud-based supply chain management services, primarily under subscription-based service arrangements.
67GF Score

Get the complete analysis for MIL:1SPSC

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€67.64
Price
€151.92
GF Value