Demonstrações financeiras detalhadas de SPS Commerce, Inc. (SPSC): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
SPS Commerce, Inc. registou receitas de $751.5M no último exercício, com um CAGR de 5 anos de 19.2%. O lucro líquido atingiu $93.3M, com CAGR de 5 anos de 15.4%.
Margens dos últimos 12 meses: margem bruta 69.8%, margem operacional 15.8%, margem líquida 10.1%. O fluxo de caixa livre cresceu a CAGR de 16.1% em 5 anos.
Ao preço atual de $80.68, SPSC negocia a um P/L de 41.16 e um ROE de 8.14%. A capitalização de mercado é de $2.9B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Receita | $193.3M | $220.6M | $248.2M | $279.1M | $312.6M | $385.3M | $450.9M | $536.9M | $637.8M | $751.5M |
| Custo da Receita | $64.3M | $73.6M | $81.7M | $92.2M | $99.8M | $131.7M | $153.1M | $182.1M | $210.7M | $231.6M |
| Lucro Bruto | $128.9M | $146.9M | $166.5M | $186.9M | $212.8M | $253.6M | $297.8M | $354.8M | $427.1M | $519.9M |
| P&D | $22.0M | $23.2M | $22.1M | $28.3M | $31.0M | $39.0M | $45.7M | $53.7M | $62.8M | $68.7M |
| Despesas Gerais e Administrativas | $94.7M | $110.8M | $113.6M | $114.9M | $126.1M | $149.3M | $169.1M | $207.8M | $251.8M | $295.7M |
| Despesas Operacionais | $121.4M | $138.5M | $139.8M | $148.5M | $162.6M | $198.5M | $226.6M | $277.6M | $338.2M | $401.6M |
| Lucro Operacional | $7.5M | $8.4M | $26.7M | $38.4M | $50.2M | $55.1M | $71.2M | $77.2M | $88.9M | $118.3M |
| EBITDA | $18.9M | $21.8M | $39.4M | $54.8M | $68.8M | $78.5M | $99.4M | $120.3M | $141.7M | $176.6M |
| Despesas com Juros | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Lucro Antes de Impostos | $8.8M | $9.1M | $28.3M | $42.1M | $52.7M | $53.5M | $71.3M | $85.6M | $99.5M | $123.8M |
| Imposto | $3.1M | $11.6M | $4.5M | $8.4M | $7.1M | $8.9M | $16.2M | $19.7M | $22.4M | $30.5M |
| Lucro Líquido | $5.7M | -$2.4M | $23.9M | $33.7M | $45.6M | $44.6M | $55.1M | $65.8M | $77.1M | $93.3M |
| LPA | $0.17 | $-0.07 | $0.69 | $0.96 | $1.29 | $1.24 | $1.53 | $1.80 | $2.07 | $2.46 |
| LPA Diluído | $0.17 | $-0.07 | $0.68 | $0.94 | $1.26 | $1.21 | $1.49 | $1.76 | $2.04 | $2.46 |
| Ações em Circulação (Diluídas) | $34.5M | $34.7M | $35.2M | $36.0M | $36.3M | $37.0M | $37.0M | $37.5M | $37.9M | $38.0M |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Caixa e Equivalentes | $115.9M | $123.1M | $133.9M | $179.3M | $149.7M | $207.6M | $162.9M | $219.1M | $241.0M | $151.4M |
| Investimentos de Curto Prazo | $23.1M | $40.2M | $44.5M | $34.3M | $37.8M | $49.8M | $51.4M | $56.4M | 0 | 0 |
| Contas a Receber | $20.7M | $24.9M | $27.5M | $31.5M | $35.5M | $34.6M | $39.4M | $46.8M | $52.0M | $68.2M |
| Estoque | $19.2M | $25.1M | $34.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $185.9M | $219.5M | $249.6M | $291.6M | $233.4M | $352.4M | $322.8M | $401.4M | $381.9M | $335.3M |
| Imobilizado | $15.3M | $16.9M | $21.0M | $39.5M | $42.0M | $42.8M | $44.6M | $43.9M | $45.7M | $48.1M |
| Ágio | $49.8M | $51.6M | $69.7M | $76.8M | $134.9M | $143.7M | $197.3M | $249.2M | $399.2M | $541.7M |
| Ativos Intangíveis | $19.8M | $16.5M | $22.7M | $22.7M | $60.2M | $58.6M | $88.4M | $107.3M | $181.3M | $215.8M |
| Ativos Totais | $298.4M | $335.5M | $386.1M | $447.4M | $526.5M | $615.8M | $672.9M | $823.8M | $1.03B | $1.17B |
| Contas a Pagar | $2.3M | $4.5M | $4.4M | $4.3M | $5.4M | $8.3M | $11.3M | $7.4M | $8.6M | $13.8M |
| Dívida de Curto Prazo | 0 | 0 | 0 | 0 | $4.7M | 0 | 0 | 0 | 0 | 0 |
| Passivos Circulantes | $32.2M | $43.1M | $56.5M | $68.0M | $80.1M | $102.9M | $110.6M | $130.7M | $146.7M | $154.4M |
| Dívida de Longo Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Passivos Totais | $49.1M | $58.7M | $67.1M | $92.6M | $105.7M | $131.6M | $135.8M | $156.4M | $176.5M | $196.0M |
| Reservas | -$33.7M | -$19.9M | $15.3M | $49.0M | $93.5M | $138.1M | $193.2M | $259.0M | $336.1M | $429.4M |
| Patrimônio Líquido | $249.3M | $276.8M | $319.0M | $354.9M | $420.7M | $484.3M | $537.1M | $667.5M | $854.7M | $973.9M |
| Dívida Total | 0 | 0 | 0 | $23.9M | $24.4M | $20.5M | $17.3M | $14.0M | $12.5M | $7.2M |
| Dívida Líquida | -$139.0M | -$163.3M | -$178.4M | -$189.7M | -$163.1M | -$236.8M | -$197.0M | -$261.4M | -$228.5M | -$144.2M |
| Capital de Giro | $153.8M | $176.3M | $193.1M | $223.6M | $153.2M | $249.6M | $212.2M | $270.8M | $235.2M | $181.0M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Lucro Líquido | $5.7M | -$2.4M | $23.9M | $33.7M | $45.6M | $44.6M | $55.1M | $65.8M | $77.1M | $93.3M |
| Depreciação e Amortização | $11.3M | $11.8M | $12.7M | $16.4M | $18.7M | $24.9M | $28.2M | $34.7M | $42.2M | $58.3M |
| Compensação em Ações | $8.0M | $12.7M | $12.5M | $14.7M | $18.9M | $27.6M | $33.4M | $45.5M | $54.6M | $53.7M |
| Variação Capital de Giro | -$4.9M | -$3.6M | $827000 | -$3.1M | -$4.4M | $6.9M | -$16.5M | -$11.8M | -$14.9M | -$54.3M |
| Fluxo de Caixa Operacional | $18.8M | $31.1M | $55.0M | $71.8M | $88.6M | $112.9M | $100.1M | $132.3M | $157.4M | $178.8M |
| CapEx | -$8.0M | -$7.3M | -$13.8M | -$13.6M | -$16.5M | -$19.6M | -$19.9M | -$19.8M | -$20.0M | -$26.5M |
| Aquisições | -$18.0M | -$500000 | -$27.3M | -$11.5M | -$98.7M | -$17.1M | -$91.4M | -$70.2M | -$147.9M | -$142.6M |
| Recompra de Ações | 0 | -$5.8M | -$19.9M | -$20.6M | -$18.9M | -$20.4M | -$43.2M | 0 | -$37.6M | -$114.3M |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | $10.8M | $23.8M | $41.3M | $58.2M | $72.1M | $93.3M | $80.2M | $112.5M | $137.4M | $152.3M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Crescimento Receita (anual) | +14.1% | +12.5% | +12.4% | +12.0% | +23.2% | +17.0% | +19.1% | +18.8% | +17.8% | |
| Crescimento Lucro Líquido (anual) | -142.7% | +1078.4% | +41.2% | +35.2% | -2.2% | +23.6% | +19.4% | +17.1% | +21.1% | |
| Crescimento LPA (anual) | -141.8% | +1071.8% | +39.1% | +34.4% | -3.9% | +23.4% | +17.6% | +15.0% | +18.8% | |
| Variação de Ações (anual) | +0.7% | +1.4% | +2.2% | +0.8% | +1.9% | -0.0% | +1.4% | +1.0% | +0.4% | |
| Crescimento FCF (anual) | +121.1% | +73.5% | +41.1% | +23.9% | +29.4% | -14.1% | +40.4% | +22.1% | +10.9% | |
| Margem Bruta | 66.7% | 66.6% | 67.1% | 67.0% | 68.1% | 65.8% | 66.1% | 66.1% | 67.0% | 69.2% |
| Margem Operacional | 3.9% | 3.8% | 10.8% | 13.8% | 16.0% | 14.3% | 15.8% | 14.4% | 13.9% | 15.7% |
| Margem EBITDA | 9.8% | 9.9% | 15.9% | 19.6% | 22.0% | 20.4% | 22.0% | 22.4% | 22.2% | 23.5% |
| Margem Líquida | 3.0% | -1.1% | 9.6% | 12.1% | 14.6% | 11.6% | 12.2% | 12.3% | 12.1% | 12.4% |
| Margem FCF | 5.6% | 10.8% | 16.6% | 20.9% | 23.1% | 24.2% | 17.8% | 21.0% | 21.5% | 20.3% |
| Taxa Efetiva de Imposto | 35.5% | 126.7% | 15.8% | 19.9% | 13.5% | 16.7% | 22.7% | 23.1% | 22.5% | 24.6% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF por Ação | $0.31 | $0.69 | $1.17 | $1.62 | $1.99 | $2.52 | $2.17 | $3.00 | $3.63 | $4.01 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $33.9M | $34.4M | $34.4M | $35.0M | $35.2M | $35.9M | $36.1M | $36.6M | $37.3M | $37.9M |
O que olhar em empresas de Technology
- Crescimento de receita 3a (≥15%/ano) — Valida tração sustentada, não um ano pontual.
- Margem bruta (Depende do sub-setor) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Receita (≥20%) — Caixa real gerada. Muitas tech maquilham lucros não-GAAP.
- ROIC (≥15%) — Eficiência do capital reinvestido — a primeira métrica de Buffett.
- SBC / Receita (<10% saudável) — Stock-based compensation. Diluição silenciosa: >20% destrói valor.
- Dívida Líquida / EBITDA (≤2x (1,5x SaaS)) — Resistência em recessões e subidas de juros.
Rentabilidade
| Retorno sobre patrimônio | 8.14% |
| Retorno sobre capital investido | 9.28% |
| Retorno sobre ativos | 6.93% |
| Margem bruta | 69.82% |
| Margem operacional | 15.83% |
| Margem líquida | 10.10% |
Saúde financeira
| Dívida / Patrimônio | 0.01 |
| Liquidez corrente | 2.26 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/L | 205.59 | -342.25 | 59.70 | 57.73 | 84.18 | 114.80 | 83.94 | 107.69 | 88.88 | 36.23 |
| P/VP | 4.75 | 3.02 | 4.44 | 5.47 | 9.09 | 10.56 | 8.64 | 10.64 | 8.03 | 3.47 |
| P/V | 6.13 | 3.79 | 5.71 | 6.95 | 12.24 | 13.27 | 10.29 | 13.23 | 10.76 | 4.49 |
| Margem Bruta | 66.7% | 66.6% | 67.1% | 67.0% | 68.1% | 65.8% | 66.1% | 66.1% | 67.0% | 69.2% |
| Margem Operacional | 3.9% | 3.8% | 10.8% | 13.8% | 16.0% | 14.3% | 15.8% | 14.4% | 13.9% | 15.7% |
| Margem Líquida | 3.0% | -1.1% | 9.6% | 12.1% | 14.6% | 11.6% | 12.2% | 12.3% | 12.1% | 12.4% |
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Explorar setor: Technology · Software - Application
Mais seções de SPSC: Resumo · Avaliação · Estatísticas · Estimativas · Técnico · Propriedade · Notícias · Eventos
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