SPS Commerce, Inc. Financial Ratios — SPSC Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	104.85	63.96	38.5	33.27	29.1	25.89	24.38
Return on Assets (%)	20.23	1.03	0.55	1.16	1.84	1.77	0.11	6.58	8.09	9.36	7.81	8.56	8.8	8.31	8.48
Return on Capital (%)	- -	-2.57	-2.22	-5.95	-11.11	-13.57	-1.66	712.28	76.47	48.27	32.47	29.87	27.22	24.79	23.77
Return on Invested Capital (%)	- -	1.48	0.66	1.45	2.16	1.75	0.12	7.44	8.86	10.64	9.77	10.46	9.67	8.93	9.71
Gross Margin (%)	73.49	71.42	69.56	68.74	68.43	66.69	66.55	67.07	66.95	68.07	65.82	66.05	66.09	66.96	69.18
EBITDA Margin (%)	6.52	8.42	9.41	10.12	10.47	9.17	9.89	15.88	19.65	22.01	20.76	22.04	20.86	20.56	23.49
Operating Margin (%)	1.96	2.04	1.7	3.43	4.43	3.31	4.54	10.77	13.76	16.04	14.3	15.79	14.39	13.94	15.74
Incremental Operating Margin (%)	-14.22	2.28	0.73	11.08	8.64	-1.84	13.35	59.49	37.8	35.07	6.78	24.54	7.05	11.54	25.87
Pretax Margin (%)	1.87	1.74	1.66	3.21	4.46	4	4.86	11.42	15.07	16.85	13.9	15.82	15.94	15.6	16.48
Profit Margin (%)	23.64	1.58	1.01	2.11	2.93	2.57	0.16	9.62	12.08	14.58	11.58	12.23	12.26	12.08	12.42
Net Income to Common Margin (%)	23.64	1.58	1.01	2.11	2.93	2.57	0.16	9.62	12.08	14.58	11.58	12.23	12.26	12.08	12.42
Effective Tax Rate (%)	- -	9.01	39.49	34.24	34.43	35.7	96.72	15.77	19.87	13.47	16.7	22.7	23.07	22.54	24.63
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	104.85	63.96	38.5	33.27	29.1	25.89	24.38

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	24	22	21	17	14	12	7
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	4	3	4	4	4	5	4
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	20	20	16	13	10	8	3
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	0.44	0.33	0.26	0.17	0.13	0.1	0.04
Net Debt/EBITDA	-8.46	-10.18	-13.37	-10.1	-7.32	-6.54	-5.66	-3.4	-3.27	-2.18	-2.59	-1.64	-1.96	-1.84	-0.86
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	0.62	0.45	0.37	0.24	0.18	0.14	0.06
Net Debt/EBIT	-28.18	-42.02	-74.09	-29.84	-17.31	-18.15	-12.34	-5.01	-4.67	-2.98	-3.77	-2.29	-2.84	-2.71	-1.28
EBITDA to Interest Expense	- -	240.37	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	18.78	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	58.22	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-63.2	-30.04	-20.94	-18.08	-15.07	-11.3	-2.53	3.96	10.95	17.77	22.43	28.72	31.45	32.6	36.71
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	5.66	4.68	3.39	2.42	1.43	0.92	0.29
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	27.56	16.96	10.35	6.18	3.5	2.26	0.65
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	4.49	3.74	2.67	1.93	1.16	0.76	0.24
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	6.73	5.34	4.24	3.22	2.1	1.46	0.74
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	32.75	19.37	12.94	8.21	5.14	3.58	1.65
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	5.33	4.27	3.33	2.57	1.7	1.21	0.61
Net Debt to Equity	-53.71	-48.99	-68.11	-63.77	-54.7	-46.49	-42.74	-41.97	-50.51	-35.58	-42.86	-30.33	-32.82	-28.2	-15.54
Net Debt/Capital (%)	39.47	58	73.73	74.8	75.5	77.46	93.48	112.9	168.51	444.26	424.5	-341.84	-405.47	-224.01	-53.05
EBITDA	4	6	10	13	17	18	22	39	55	69	80	99	112	131	177
EBITDA-CapEx	1	1	4	5	8	10	14	26	41	52	60	79	92	111	150
Operating Income (Loss)	1	2	2	4	7	6	10	27	38	50	55	71	77	89	118

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	2.79	4.56	6.94	5.33	5.33	4.32	3.72	3.16	3.14	2.34	2.5	1.94	2.11	1.64	0.98
Current Ratio	4.21	6.32	8.25	6.6	6.88	5.78	5.1	4.42	4.29	3.39	3.43	2.92	3.07	2.6	2.17
Quick Ratio	3.48	5.32	7.56	5.95	6.05	4.97	4.28	3.64	3.6	2.76	2.84	2.29	2.47	2	1.42
CFO/Avg Current Liab	0.44	0.53	1.09	0.77	0.59	0.67	0.82	1.1	1.15	1.2	1.23	0.94	1.1	1.14	1.19
Common Equity/Total Assets	-63.2	-30.04	-20.94	-18.08	-15.07	-11.3	-2.53	3.96	10.95	17.77	22.43	28.72	31.45	32.6	36.71
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	5.66	4.68	3.39	2.42	1.43	0.92	0.29
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	27.56	16.96	10.35	6.18	3.5	2.26	0.65
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	4.49	3.74	2.67	1.93	1.16	0.76	0.24
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	6.73	5.34	4.24	3.22	2.1	1.46	0.74
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	32.75	19.37	12.94	8.21	5.14	3.58	1.65
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	5.33	4.27	3.33	2.57	1.7	1.21	0.61
CFO/Total Liabilities	24.83	28.01	59.7	43.4	36.49	38.22	60.14	81.93	77.56	83.76	85.79	73.65	84.61	89.16	91.24
CFO/CapEx	1.74	1.14	3.2	2.21	1.65	2.34	4.27	4	5.28	5.38	5.76	5.03	6.69	7.85	6.74
Altman's Z-Score	10.88	12.93	20.65	15.56	19.04	16.01	11.39	14.66	14.72	24.24	25.88	23.61	30.42	27.06	15.09

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	8.57	8.16	9.26	9.47	9.6	10.07	9.64	9.48	9.46	9.6	11.31	12.19	12.45	12.9	12.5
Days Sales Outstanding	42.6	44.73	39.42	38.56	38.04	36.25	37.85	38.51	38.59	38.01	32.28	29.95	29.33	28.29	29.19
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	12.76	13.49	17.39	13.89	16.34	28.82	21.77	18.36	21.17	20.74	19.25	15.63	19.5	26.34	20.74
Accounts Payable Turnover Days	28.61	27.06	20.99	26.28	22.33	12.66	16.77	19.88	17.24	17.6	18.97	23.35	18.72	13.86	17.6
Cash Conversion Cycle	13.99	17.67	18.44	12.28	15.7	23.58	21.08	18.64	21.35	20.41	13.31	6.6	10.61	14.44	11.59
Inventory to Cash Days	42.6	44.73	39.42	38.56	38.04	36.25	37.85	38.51	38.59	38.01	32.28	29.95	29.33	28.29	29.19
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	310	487	993	920	1,163	1,185	835	1,417	1,941	3,825	5,114	4,639	7,103	6,864	3,376
- Cash & Cash Equivalents	32	66	131	131	122	116	123	134	179	150	208	163	219	241	151
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	24	22	21	17	14	12	7
Enterprise Value	278	421	861	789	1,034	1,046	672	1,238	1,751	3,660	4,878	4,441	6,842	6,635	3,232
Total Capital	-49	-48	-47	-44	-39	-34	-9	15	73	116	159	211	273	349	437
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	32.75	19.37	12.94	8.21	5.14	3.58	1.65
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	0.01	0.01	- -	- -	- -	- -	- -
EV/Sales	4.8	5.46	8.25	6.17	6.52	5.41	3.05	4.99	6.27	11.71	12.66	9.85	12.74	10.4	4.3
EV/EBITDA	73.64	64.82	87.69	60.9	62.3	59.01	30.87	31.41	31.93	53.18	60.97	44.7	61.09	50.61	18.31
EV/EBIT	245.37	267.61	486.08	179.97	147.2	163.77	67.31	46.32	45.6	72.97	88.55	62.4	88.57	74.65	27.32
EV/Cash Flow to Firm	62.1	61.38	47.21	46.99	71.65	55.72	21.64	22.51	24.39	41.33	43.21	44.39	51.72	42.16	18.08
EV/Free Cash Flow to Firm	39.4	32.77	35.97	32.37	44.59	39.06	17.53	18.01	20.51	34.85	36.82	37.03	45	37.39	15.74
Diluted Market Cap	331	519	1,040	952	1,196	1,205	844	1,450	1,995	3,940	5,262	4,746	7,264	6,965	3,386
Diluted Enterprise Value	299	453	909	822	1,074	1,089	720	1,317	1,840	3,813	5,075	4,600	7,059	6,737	3,242
EV per Share	11.64	16.11	28.33	24.29	31.2	30.85	19.55	36	50	103.91	135.76	122.97	186.71	177.86	85.32
TTM Sales	58	77	104	128	159	193	220	248	279	313	385	451	537	638	752
TTM EBITDA	4	6	10	13	17	18	22	39	55	69	80	99	112	131	177
TTM Operating Income	1	2	2	4	7	6	10	27	38	50	55	71	77	89	118
TTM Cash Flow to Firm	4	7	18	17	14	19	31	55	72	89	113	100	132	157	179
TTM Free Cash Flow to Firm	7	13	24	24	23	27	38	69	85	105	132	120	152	177	205

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	46.8	40.47	43.45	39.08	51.57	45.01	22.01	21.09	23.37	37.52	39.72	39.57	47.77	39.25	16.49
EV/EBIT	245.37	267.61	486.08	179.97	147.2	163.77	67.31	46.32	45.6	72.97	88.55	62.4	88.57	74.65	27.32
Enterprise Value	278	421	861	789	1,034	1,046	672	1,238	1,751	3,660	4,878	4,441	6,842	6,635	3,232
Low Price	6.8	11.46	18.25	21.92	26.42	19.17	22.51	24.24	39.91	31.28	91.05	96.41	120.66	160.58	73.05
EV/Sales	4.8	5.46	8.25	6.17	6.52	5.41	3.05	4.99	6.27	11.71	12.66	9.85	12.74	10.4	4.3
EV/EBITDA	73.64	64.82	87.69	60.9	62.3	59.01	30.87	31.41	31.93	53.18	60.97	44.7	61.09	50.61	18.31
Price/Earnings	22.66	398.3	944.46	340.09	250.67	238.69	2,379.18	59.34	57.58	83.91	114.68	84.13	107.92	89.08	36.17
Price/Earnings Average	15.51	326.28	793.36	350.84	244.7	201.7	2,828.27	54.91	53.27	54.91	96.37	80.01	91.25	90.98	51.26
Price/Earnings High	24.35	441.47	1,156.78	431.24	279.59	255.55	3,554.09	72.52	61.44	86.26	140.52	96.17	110.43	105.9	80.19
Price/Earnings Low	11.87	244.88	527.91	263.23	188.68	130.92	2,203.93	34.92	41.46	24.17	73.35	63.16	67.17	77.75	29.65
Price/Book Value	-6.33	-10.18	-21.22	-20.87	-29.49	-35.13	-97.17	92.61	39.61	40.9	37.03	24	27.42	20.42	7.86
Price/Book Value Average	-4.33	-8.34	-17.83	-21.53	-28.79	-29.68	-115.51	85.68	36.64	26.76	31.12	22.83	23.18	20.86	11.14
Price/Book Value High	-6.8	-11.28	-25.99	-26.46	-32.89	-37.61	-145.16	113.18	42.26	42.04	45.37	27.44	28.06	24.28	17.43
Price/Book Value Low	-3.32	-6.26	-11.86	-16.15	-22.2	-19.27	-90.01	54.5	28.52	11.78	23.68	18.02	17.07	17.82	6.44
Price/Tangible Book Value	6.48	5.46	6.61	6.07	6.71	6.59	3.8	6.25	7.6	16.95	18.14	18.45	22.84	25.03	15.61
Price/Tangible Book Value Average	4.44	4.48	5.55	6.27	6.55	5.57	4.51	5.78	7.03	11.09	15.24	17.54	19.32	25.57	22.11
Price/Tangible Book Value High	6.96	6.06	8.09	7.7	7.49	7.06	5.67	7.64	8.11	17.43	22.22	21.09	23.38	29.76	34.59
Price/Tangible Book Value Low	3.39	3.36	3.69	4.7	5.05	3.62	3.52	3.68	5.47	4.88	11.6	13.85	14.22	21.85	12.79
Price/Sales	5.36	6.31	9.51	7.19	7.34	6.13	3.79	5.71	6.95	12.24	13.27	10.29	13.23	10.76	4.49
Price/Sales Average	3.67	5.17	7.99	7.41	7.16	5.18	4.51	5.28	6.43	8.01	11.16	9.78	11.19	10.99	6.37
Price/Sales High	5.76	7	11.65	9.11	8.18	6.57	5.67	6.97	7.42	12.58	16.27	11.76	13.54	12.8	9.96
Price/Sales Low	2.81	3.88	5.31	5.56	5.52	3.36	3.51	3.36	5.01	3.52	8.49	7.72	8.24	9.39	3.68
Price/Cash Flow	69.23	71.27	54.41	54.78	80.59	63.13	26.9	25.75	27.04	43.19	45.3	46.36	53.69	43.61	18.88
Price/Cash Flow Average	47.4	58.39	45.71	56.51	78.67	53.35	31.97	23.82	25.01	28.27	38.07	44.09	45.4	44.54	26.76
Price/Cash Flow High	74.4	79	66.64	69.46	89.89	67.59	40.18	31.47	28.85	44.4	55.51	53	54.94	51.85	41.86
Price/Cash Flow Low	36.27	43.82	30.41	42.4	60.66	34.63	24.91	15.15	19.47	12.44	28.98	34.8	33.42	38.06	15.48
Price/Free Cash Flow Average	32.05	33.16	36.5	40.31	50.34	38.04	26.17	19.52	21.62	24.55	33.37	37.63	40.39	40.09	23.37
Price/Free Cash Flow High	50.3	44.86	53.21	49.55	57.52	48.19	32.88	25.78	24.94	38.57	48.66	45.23	48.88	46.67	36.56
Price/Free Cash Flow Low	24.52	24.88	24.29	30.25	38.82	24.69	20.39	12.41	16.83	10.81	25.4	29.71	29.74	34.26	13.52
EV/Sales Average	3.12	4.31	6.73	6.39	6.39	4.58	3.95	4.74	5.88	7.6	10.67	9.46	10.8	10.63	6.17
EV/Sales High	5.2	6.14	10.39	8.09	7.42	5.97	5.11	6.44	6.86	12.17	15.78	11.44	13.16	12.44	9.77
EV/Sales Low	2.25	3.02	4.06	4.54	4.76	2.76	2.96	2.82	4.45	3.12	8.01	7.4	7.85	9.03	3.49
EV/EBITDA Average	47.76	51.26	71.52	63.14	61.08	49.95	39.96	29.86	29.91	34.52	51.39	42.93	51.8	51.73	26.28
EV/EBITDA High	79.77	72.95	110.4	79.93	70.83	65.03	51.66	40.53	34.93	55.29	76	51.89	63.07	60.5	41.58
EV/EBITDA Low	34.55	35.93	43.12	44.85	45.42	30.13	29.89	17.75	22.65	14.16	38.55	33.58	37.65	43.95	14.86
EV/EBIT Average	159.13	211.62	396.46	186.6	144.33	138.63	87.13	44.03	42.71	47.37	74.63	59.93	75.1	76.3	39.22
EV/EBIT High	265.81	301.16	612.01	236.2	167.38	180.49	112.65	59.76	49.89	75.86	110.37	72.44	91.44	89.24	62.05
EV/EBIT Low	115.13	148.34	239.02	132.56	107.33	83.61	65.17	26.18	32.35	19.43	55.99	46.87	54.59	64.83	22.17
Last Price	12.98	18.64	32.65	28.32	35.1	34.95	24.3	41.19	55.42	108.59	142.35	128.43	193.84	183.99	89.13
High Price	13.95	20.66	39.99	35.91	39.15	37.42	36.3	50.34	59.14	111.63	174.42	146.81	198.35	218.74	197.59
Enterprise Value Average	181	333	703	818	1,014	885	870	1,177	1,640	2,376	4,111	4,266	5,801	6,782	4,640
Enterprise Value High	302	473	1,084	1,035	1,176	1,152	1,124	1,597	1,916	3,805	6,080	5,157	7,064	7,932	7,341
Enterprise Value Low	131	233	424	581	754	534	650	700	1,242	975	3,084	3,336	4,217	5,762	2,623

Shares Outstanding	24	30	32	33	33	34	34	35	35	35	36	36	37	38	38
Diluted Weighted Avg Shares	25	28	32	34	34	34	35	35	36	36	37	37	37	38	38
Basic Weighted Avg Shares	24	26	30	32	33	34	34	34	35	35	36	36	37	37	38
Revenue per Share	2.42	2.95	3.43	3.94	4.78	5.7	6.4	7.22	7.97	8.87	10.72	12.48	14.65	17.1	19.84
EBITDA per Share	0.16	0.25	0.32	0.4	0.5	0.52	0.63	1.15	1.57	1.95	2.23	2.75	3.06	3.51	4.66
Operating Income per Share	0.05	0.06	0.06	0.13	0.21	0.19	0.29	0.78	1.1	1.42	1.53	1.97	2.11	2.38	3.12
Basic EPS, GAAP	0.57	0.05	0.03	0.08	0.14	0.15	0.01	0.69	0.96	1.29	1.24	1.53	1.8	2.07	2.46
Basic EPS from Cont Ops	0.57	0.05	0.03	0.08	0.14	0.15	0.01	0.69	0.96	1.29	1.24	1.53	1.8	2.07	2.46
Diluted EPS, GAAP	0.54	0.04	0.03	0.08	0.14	0.14	0.01	0.68	0.94	1.26	1.21	1.49	1.76	2.04	2.46
Diluted EPS from Cont Ops	0.54	0.04	0.03	0.08	0.14	0.14	0.01	0.68	0.94	1.26	1.21	1.49	1.76	2.04	2.46
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.19	0.26	0.6	0.52	0.44	0.55	0.9	1.6	2.05	2.51	3.14	2.77	3.61	4.22	4.72
Free Cash Flow per Basic Share	0.08	0.03	0.41	0.28	0.17	0.32	0.69	1.2	1.66	2.05	2.6	2.22	3.07	3.68	4.02
Cash & Equivalents per Share	1.34	2.53	4.32	4.03	3.9	4.1	4.75	5.19	6.1	5.32	7.16	5.93	7.52	6.46	4
Book Value per Share	-2.05	-1.83	-1.54	-1.36	-1.19	-0.99	-0.25	0.44	1.4	2.66	3.84	5.35	7.07	9.01	11.34
Tangible Book Value per Share	2	3.41	4.94	4.66	5.23	5.3	6.4	6.59	7.29	6.41	7.85	6.96	8.49	7.35	5.71

SPS Commerce, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)