SPS Commerce, Inc. SPSC NASDAQ

SPS Commerce, Inc. (SPSC) generated $178.79M in operating cash flow for fiscal year 2025. After capital expenditures of $26.52M, free cash flow was $152.27M.

Free cash flow margin was 20.3% of revenue. Cash conversion ratio was 1.92x, indicating earnings are backed by cash.

The company returned $114.28M in share buybacks to shareholders during the period.

Criteria supported by this page:

• HEALTH (100/100, Pass) — demonstrate the company can comfortably service its debt
• MOAT (66/100, Partial) — cash flow generation is present but not at levels indicating a wide moat
• INCOME (55/100) — Cash conversion ratio was 1.92x confirms earnings are backed by real cash flow

Overall SharesGrow Score: 74/100 with 4/7 criteria passed.