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Side-by-side financial comparison of AMPCO PITTSBURGH CORP (AP) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
SPS COMMERCE INC is the larger business by last-quarter revenue ($192.7M vs $104.4M, roughly 1.8× AMPCO PITTSBURGH CORP). SPS COMMERCE INC runs the higher net margin — 13.4% vs -55.2%, a 68.7% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs 11.5%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $-64.0K). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs -2.6%).
Ampco-Pittsburgh Corporation is a specialty steel manufacturer headquartered in Downtown Pittsburgh, Pennsylvania. It is one of several companies to bear the Ampco name, and it should not be confused with the Milwaukee-based copper base alloy producer, Ampco Metal Inc.; the Miami-based cabinetry company; the Swiss aluminum corporation; or the Dallas-based tool company. Ampco was formed in 1929 and is a conglomerate made up of several previously established small steel makers. Five small compa...
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
AP vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.4M | $192.7M |
| Net Profit | $-57.7M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | -54.0% | 18.0% |
| Net Margin | -55.2% | 13.4% |
| Revenue YoY | 11.5% | 12.7% |
| Net Profit YoY | -1958.9% | 47.2% |
| EPS (diluted) | $-2.87 | $0.69 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $104.4M | $192.7M | ||
| Q3 25 | $103.7M | $189.9M | ||
| Q2 25 | $108.9M | $187.4M | ||
| Q1 25 | $99.2M | $181.5M | ||
| Q4 24 | $93.6M | $170.9M | ||
| Q3 24 | $92.1M | $163.7M | ||
| Q2 24 | $107.1M | $153.6M | ||
| Q1 24 | $110.0M | $149.6M |
| Q4 25 | $-57.7M | $25.8M | ||
| Q3 25 | $-2.2M | $25.6M | ||
| Q2 25 | $-7.3M | $19.7M | ||
| Q1 25 | $1.1M | $22.2M | ||
| Q4 24 | $3.1M | $17.6M | ||
| Q3 24 | $-2.0M | $23.5M | ||
| Q2 24 | $2.0M | $18.0M | ||
| Q1 24 | $-2.7M | $18.0M |
| Q4 25 | — | 70.4% | ||
| Q3 25 | — | 69.5% | ||
| Q2 25 | — | 68.1% | ||
| Q1 25 | — | 68.7% | ||
| Q4 24 | — | 67.5% | ||
| Q3 24 | — | 68.5% | ||
| Q2 24 | — | 66.1% | ||
| Q1 24 | — | 65.6% |
| Q4 25 | -54.0% | 18.0% | ||
| Q3 25 | 1.1% | 16.4% | ||
| Q2 25 | -2.8% | 14.1% | ||
| Q1 25 | 3.9% | 14.3% | ||
| Q4 24 | 5.5% | 14.5% | ||
| Q3 24 | 2.0% | 15.6% | ||
| Q2 24 | 4.7% | 15.1% | ||
| Q1 24 | 0.1% | 10.3% |
| Q4 25 | -55.2% | 13.4% | ||
| Q3 25 | -2.1% | 13.5% | ||
| Q2 25 | -6.7% | 10.5% | ||
| Q1 25 | 1.2% | 12.2% | ||
| Q4 24 | 3.3% | 10.3% | ||
| Q3 24 | -2.1% | 14.3% | ||
| Q2 24 | 1.9% | 11.7% | ||
| Q1 24 | -2.5% | 12.0% |
| Q4 25 | $-2.87 | $0.69 | ||
| Q3 25 | $-0.11 | $0.67 | ||
| Q2 25 | $-0.36 | $0.52 | ||
| Q1 25 | $0.06 | $0.58 | ||
| Q4 24 | $0.16 | $0.46 | ||
| Q3 24 | $-0.10 | $0.62 | ||
| Q2 24 | $0.10 | $0.48 | ||
| Q1 24 | $-0.14 | $0.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.7M | $151.4M |
| Total DebtLower is stronger | $117.9M | — |
| Stockholders' EquityBook value | $32.6M | $973.9M |
| Total Assets | $495.4M | $1.2B |
| Debt / EquityLower = less leverage | 3.61× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.7M | $151.4M | ||
| Q3 25 | $15.0M | $133.7M | ||
| Q2 25 | $9.9M | $107.6M | ||
| Q1 25 | $7.1M | $94.9M | ||
| Q4 24 | $15.4M | $241.0M | ||
| Q3 24 | $11.8M | $205.8M | ||
| Q2 24 | $7.9M | $271.8M | ||
| Q1 24 | $10.8M | $290.8M |
| Q4 25 | $117.9M | — | ||
| Q3 25 | $119.0M | — | ||
| Q2 25 | $115.9M | — | ||
| Q1 25 | $115.0M | — | ||
| Q4 24 | $116.4M | — | ||
| Q3 24 | $116.0M | — | ||
| Q2 24 | $119.4M | — | ||
| Q1 24 | $116.2M | — |
| Q4 25 | $32.6M | $973.9M | ||
| Q3 25 | $60.1M | $958.9M | ||
| Q2 25 | $62.7M | $949.8M | ||
| Q1 25 | $64.6M | $920.9M | ||
| Q4 24 | $58.9M | $854.7M | ||
| Q3 24 | $61.3M | $829.4M | ||
| Q2 24 | $58.0M | $703.4M | ||
| Q1 24 | $56.3M | $683.0M |
| Q4 25 | $495.4M | $1.2B | ||
| Q3 25 | $524.4M | $1.2B | ||
| Q2 25 | $537.2M | $1.1B | ||
| Q1 25 | $536.2M | $1.1B | ||
| Q4 24 | $530.9M | $1.0B | ||
| Q3 24 | $547.4M | $1.0B | ||
| Q2 24 | $560.8M | $854.5M | ||
| Q1 24 | $565.8M | $839.8M |
| Q4 25 | 3.61× | — | ||
| Q3 25 | 1.98× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.78× | — | ||
| Q4 24 | 1.98× | — | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 2.06× | — | ||
| Q1 24 | 2.06× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.7M | $45.9M |
| Free Cash FlowOCF − Capex | $-64.0K | $38.2M |
| FCF MarginFCF / Revenue | -0.1% | 19.8% |
| Capex IntensityCapex / Revenue | 2.7% | 4.0% |
| Cash ConversionOCF / Net Profit | — | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $-8.1M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7M | $45.9M | ||
| Q3 25 | $6.3M | $60.6M | ||
| Q2 25 | $-2.3M | $32.3M | ||
| Q1 25 | $-5.3M | $40.0M | ||
| Q4 24 | $7.5M | $40.6M | ||
| Q3 24 | $11.4M | $53.3M | ||
| Q2 24 | $-5.3M | $29.4M | ||
| Q1 24 | $4.5M | $34.1M |
| Q4 25 | $-64.0K | $38.2M | ||
| Q3 25 | $3.3M | $54.6M | ||
| Q2 25 | $-3.8M | $25.7M | ||
| Q1 25 | $-7.5M | $33.8M | ||
| Q4 24 | $3.7M | $34.3M | ||
| Q3 24 | $8.4M | $48.1M | ||
| Q2 24 | $-8.0M | $24.4M | ||
| Q1 24 | $1.7M | $30.5M |
| Q4 25 | -0.1% | 19.8% | ||
| Q3 25 | 3.2% | 28.7% | ||
| Q2 25 | -3.5% | 13.7% | ||
| Q1 25 | -7.5% | 18.6% | ||
| Q4 24 | 4.0% | 20.1% | ||
| Q3 24 | 9.1% | 29.4% | ||
| Q2 24 | -7.5% | 15.9% | ||
| Q1 24 | 1.5% | 20.4% |
| Q4 25 | 2.7% | 4.0% | ||
| Q3 25 | 2.9% | 3.2% | ||
| Q2 25 | 1.3% | 3.6% | ||
| Q1 25 | 2.2% | 3.4% | ||
| Q4 24 | 4.0% | 3.6% | ||
| Q3 24 | 3.2% | 3.2% | ||
| Q2 24 | 2.5% | 3.3% | ||
| Q1 24 | 2.6% | 2.4% |
| Q4 25 | — | 1.78× | ||
| Q3 25 | — | 2.37× | ||
| Q2 25 | — | 1.64× | ||
| Q1 25 | -4.62× | 1.80× | ||
| Q4 24 | 2.40× | 2.31× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | -2.64× | 1.63× | ||
| Q1 24 | — | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AP
| Forged And Cast Mill Rolls | $67.0M | 64% |
| Air Handling Systems | $14.3M | 14% |
| Heat Exchange Coils | $13.1M | 13% |
| Centrifugal Pumps | $10.3M | 10% |
| Forged Engineered Products | $4.0M | 4% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
