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SPS CommerceMIL:1SPSC 67 Return-on-Tangible-Asset is 6.64% as of Jun. 2026, which is 48% below its 10-year median of 12.70. 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. Among 2,894 Software companies, SPS Commerce ranks better than 90.95% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. SPS Commerce's annualizedNet Income for the quarter that ended in Jun. 2026 was €23.8 Mil. SPS Commerce's average total tangible assets for the quarter that ended in Jun. 2026 was €358.7 Mil. Therefore, SPS Commerce's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 6.64%.
The historical rank and industry rank for SPS Commerce's Return-on-Tangible-Asset or its related term are showing as below:
MIL:1SPSC'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 0.14 Med: 12.7 Max: 21.63
Current: 19.79
During the past 13 years, SPS Commerce's highest Return-on-Tangible-Asset was 21.63%. The lowest was 0.14%. And the median was 12.70%.
MIL:1SPSC's Return-on-Tangible-Asset is ranked better than 90.95% of 2894
companies
in the Software industry
Industry Median: 2.095
vs MIL:1SPSC: 19.79
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
SPS Commerce Return-on-Tangible-Asset Related Terms
SPS Commerce Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for SPS Commerce's Return-on-Tangible-Asset 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.
MIL:1SPSC vs PLUS, PDFS, INTA: Return-on-Tangible-Asset Comparison
For the Software - Application subindustry, SPS Commerce's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Software Industry
For the Software industry and Technology sector, SPS Commerce's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where SPS Commerce's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of 6.64% mean?
SPS Commerce (MIL:1SPSC) has a Return-on-Tangible-Asset of 6.64% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on SPS Commerce and its competitors. This is 48% below median its historical median of 12.70. Over the past decade, SPS Commerce's Return-on-Tangible-Asset has ranged from 0.14 to 21.63. According to the industry distribution chart, SPS Commerce ranks #262 out of 2894 companies in the Software industry, placing it in the top 9.1%.
Is SPS Commerce's Return-on-Tangible-Asset too high?
SPS Commerce's current Return-on-Tangible-Asset of 6.64% is 48% below median its 10-year median of 12.70. Over the past 10 years, this metric has ranged from a low of 0.14 to a high of 21.63. The Software industry median Return-on-Tangible-Asset is 2.10. SPS Commerce's value of 6.64% is 216.9% above this industry median. Based on the distribution chart, SPS Commerce ranks #262 out of 2894 companies in the Software industry, which is in the top quartile — a strong position relative to peers. 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 Return-on-Tangible-Asset compare to PLUS and PDFS?
According to the Software industry distribution chart, SPS Commerce ranks #262 out of 2894 companies for Return-on-Tangible-Asset. This places SPS Commerce in the top 9% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.10. SPS Commerce's value of 6.64% is 216.9% above this benchmark. Historically, SPS Commerce's own Return-on-Tangible-Asset has ranged from 0.14 to 21.63 over the past decade. While the company's 10-year median is 12.70 vs. the industry median of 2.10, SPS Commerce has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Software company?
The median Return-on-Tangible-Asset among Software companies is 2.10, based on 2,894 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SPS Commerce's current Return-on-Tangible-Asset of 6.64% is 216.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on SPS Commerce and its competitors. For the Software industry, the median Return-on-Tangible-Asset is 2.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SPS Commerce's current Return-on-Tangible-Asset is 6.64%, which is 48% below median its own 10-year median of 12.70. 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 Return-on-Tangible-Asset is 6.64%, which is 48% below median its 10-year median of 12.70 and 216.9% above the Software industry median of 2.10. 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 Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For SPS Commerce (MIL:1SPSC), the current Return-on-Tangible-Asset is 6.64% 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:
Return-on-Tangible-Asset: 6.64% (48% below median its 10-year median of 12.70)
GF Value™: €151.92 vs. price of €67.64 (55.5% below fair value)
Industry Position: 216.9% above the Software median (#262 of 2894)
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 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
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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