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Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, SPS Commerce's Enterprise Value is $2,740.5 Mil.
SPS Commerce's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was $122.3 Mil. Therefore, SPS Commerce's EV-to-EBIT ratio for today is 22.41.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, SPS Commerce's Enterprise Value is $2,740.5 Mil.
SPS Commerce's EBITDA for the trailing twelve months (TTM) ended in Jun. 2026 was $183.2 Mil. Therefore, SPS Commerce's EV-to-EBITDA ratio for today is 14.96.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, SPS Commerce's Enterprise Value is $2,740.5 Mil.
SPS Commerce's Revenue for the trailing twelve months (TTM) ended in Jun. 2026 was $772.5 Mil. Therefore, SPS Commerce's EV-to-Revenue ratio for today is 3.55.
EV-to-FCF is calculated as Enterprise Value divided by its Free Cash Flow. As of today, SPS Commerce's Enterprise Value is $2,740.5 Mil.
SPS Commerce's Free Cash Flow for the trailing twelve months (TTM) ended in Jun. 2026 was $198.7 Mil. Therefore, SPS Commerce's EV-to-FCF ratio for today is 13.79.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
SPS Commerce (NAS:SPSC) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.
SPS Commerce's current Enterprise Value is $2,740.5 Mil.
SPS Commerce's 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 $122.3 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
SPS Commerce's current Enterprise Value is $2,740.5 Mil.
SPS Commerce's EBITDA 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 $183.2 Mil.
SPS Commerce's current Enterprise Value is $2,740.5 Mil.
SPS Commerce's Revenue 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 $772.5 Mil.
SPS Commerce's current Enterprise Value is $2,740.5 Mil.
SPS Commerce's Cash Flow from Operations 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 $228.1 Mil.
SPS Commerce's current Enterprise Value is $2,740.5 Mil.
SPS Commerce's Free Cash Flow 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 $198.7 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.
SPS Commerce Enterprise Value Related Terms
SPS Commerce Enterprise Value Historical Data
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The historical data trend for SPS Commerce's Enterprise Value 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.
SPSC vs PLUS, PDFS, INTA: Enterprise Value Comparison
For the Software - Application subindustry, SPS Commerce's Enterprise Value, along with its competitors' market caps and Enterprise Value 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 Enterprise Value vs Software Industry
For the Software industry and Technology sector, SPS Commerce's Enterprise Value distribution charts can be found below:
* The bar in red indicates where SPS Commerce's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
SPS Commerce's Enterprise Value for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
What does a Enterprise Value of $2,740.5 Mil mean?
SPS Commerce (SPSC) has a Enterprise Value of $2,740.5 Mil as of Aug. 20, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on SPS Commerce and its competitors.
Is SPS Commerce's Enterprise Value too high?
SPS Commerce's current Enterprise Value is $2,740.5 Mil. Overall, SPS Commerce has a GF Score™ of 84/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SPS Commerce's Enterprise Value compare to PLUS and PDFS?
SPS Commerce's Enterprise Value of $2,740.5 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 Enterprise Value for a Software company?
A good Enterprise Value depends on the Software industry context. However, Enterprise Value 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 Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on SPS Commerce and its competitors. SPS Commerce's current Enterprise Value is $2,740.5 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 (SPSC) is currently considered Significantly Undervalued. The stock's GF Value™ is $181.48, compared to a current price of $80.80 — trading 55.5% below its estimated fair value. The current Enterprise Value is $2,740.5 Mil. SPS Commerce's overall GF Score™ is 84/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For SPS Commerce (SPSC), the current Enterprise Value is $2,740.5 Mil as of Aug. 20, 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 (SPSC) Overvalued in 2026?
Based on GuruFocus' analysis, SPS Commerce stock appears to be undervalued.
The current stock price of $80.80 is trading 55.5% below its estimated GF Value™ of $181.48.
GuruFocus considers SPS Commerce to be Significantly Undervalued.
Key valuation signals for SPSC:
Enterprise Value: $2,740.5 Mil
GF Value™: $181.48 vs. price of $80.80 (55.5% below fair value)
No single metric tells the full story. See the SPSC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
84GF Score
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