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Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) and Commerce.com, Inc. (CMRC). Click either name above to swap in a different company.
Commerce.com, Inc. is the larger business by last-quarter revenue ($89.5M vs $75.1M, roughly 1.2× SAUL CENTERS, INC.). SAUL CENTERS, INC. runs the higher net margin — 8.7% vs -9.3%, a 18.0% gap on every dollar of revenue. On growth, SAUL CENTERS, INC. posted the faster year-over-year revenue change (10.6% vs 2.9%). Over the past eight quarters, SAUL CENTERS, INC.'s revenue compounded faster (6.2% CAGR vs 5.5%).
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
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.
BFS vs CMRC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $89.5M |
| Net Profit | $6.5M | $-8.4M |
| Gross Margin | — | 78.3% |
| Operating Margin | 65.4% | -7.4% |
| Net Margin | 8.7% | -9.3% |
| Revenue YoY | 10.6% | 2.9% |
| Net Profit YoY | -19.6% | -250.0% |
| EPS (diluted) | $0.15 | $-0.11 |
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 | $75.1M | $89.5M | ||
| Q3 25 | $72.0M | $86.0M | ||
| Q2 25 | $70.8M | $84.4M | ||
| Q1 25 | $71.9M | $82.4M | ||
| Q4 24 | $67.9M | $87.0M | ||
| Q3 24 | $67.3M | $83.7M | ||
| Q2 24 | $66.9M | $81.8M | ||
| Q1 24 | $66.7M | $80.4M |
| Q4 25 | $6.5M | $-8.4M | ||
| Q3 25 | $10.5M | $-2.2M | ||
| Q2 25 | $10.7M | $-8.4M | ||
| Q1 25 | $9.8M | $-353.0K | ||
| Q4 24 | $8.1M | $-2.4M | ||
| Q3 24 | $14.5M | $-7.0M | ||
| Q2 24 | $14.4M | $-11.3M | ||
| Q1 24 | $13.6M | $-6.4M |
| Q4 25 | — | 78.3% | ||
| Q3 25 | — | 78.4% | ||
| Q2 25 | — | 79.0% | ||
| Q1 25 | — | 79.4% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | 73.6% | 76.3% | ||
| Q2 24 | 74.2% | 75.8% | ||
| Q1 24 | 72.8% | 77.1% |
| Q4 25 | 65.4% | -7.4% | ||
| Q3 25 | 69.1% | -0.5% | ||
| Q2 25 | 68.7% | -8.0% | ||
| Q1 25 | 66.5% | -2.9% | ||
| Q4 24 | 82.9% | -0.9% | ||
| Q3 24 | 72.8% | -23.0% | ||
| Q2 24 | 75.0% | -16.5% | ||
| Q1 24 | 72.4% | -10.2% |
| Q4 25 | 8.7% | -9.3% | ||
| Q3 25 | 14.6% | -2.6% | ||
| Q2 25 | 15.1% | -9.9% | ||
| Q1 25 | 13.6% | -0.4% | ||
| Q4 24 | 11.9% | -2.7% | ||
| Q3 24 | 21.5% | -8.4% | ||
| Q2 24 | 21.6% | -13.8% | ||
| Q1 24 | 20.4% | -8.0% |
| Q4 25 | $0.15 | $-0.11 | ||
| Q3 25 | $0.32 | $-0.03 | ||
| Q2 25 | $0.33 | $-0.10 | ||
| Q1 25 | $0.29 | $0.00 | ||
| Q4 24 | $0.22 | $-0.03 | ||
| Q3 24 | $0.48 | $-0.09 | ||
| Q2 24 | $0.48 | $-0.15 | ||
| Q1 24 | $0.45 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.7M | $141.1M |
| Total DebtLower is stronger | $468.4M | $157.0M |
| Stockholders' EquityBook value | $307.8M | $39.4M |
| Total Assets | $2.2B | $308.8M |
| Debt / EquityLower = less leverage | 1.52× | 3.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $141.1M | ||
| Q3 25 | $11.8M | $142.0M | ||
| Q2 25 | $5.3M | $134.5M | ||
| Q1 25 | $6.5M | $120.7M | ||
| Q4 24 | $10.3M | $178.2M | ||
| Q3 24 | $7.2M | $168.4M | ||
| Q2 24 | $6.9M | $275.8M | ||
| Q1 24 | $7.1M | $265.2M |
| Q4 25 | $468.4M | $157.0M | ||
| Q3 25 | $1.6B | $157.3M | ||
| Q2 25 | $1.6B | $157.5M | ||
| Q1 25 | $1.5B | $157.8M | ||
| Q4 24 | $455.8M | $216.5M | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.4B | $340.9M | ||
| Q1 24 | $1.4B | $340.5M |
| Q4 25 | $307.8M | $39.4M | ||
| Q3 25 | $316.6M | $42.8M | ||
| Q2 25 | $322.4M | $38.8M | ||
| Q1 25 | $328.4M | $38.1M | ||
| Q4 24 | $335.8M | $33.4M | ||
| Q3 24 | $341.8M | $29.0M | ||
| Q2 24 | $345.7M | $26.1M | ||
| Q1 24 | $347.1M | $26.9M |
| Q4 25 | $2.2B | $308.8M | ||
| Q3 25 | $2.2B | $309.5M | ||
| Q2 25 | $2.1B | $302.5M | ||
| Q1 25 | $2.1B | $286.3M | ||
| Q4 24 | $2.1B | $340.3M | ||
| Q3 24 | $2.1B | $335.1M | ||
| Q2 24 | $2.1B | $452.5M | ||
| Q1 24 | $2.0B | $442.5M |
| Q4 25 | 1.52× | 3.99× | ||
| Q3 25 | 5.02× | 3.67× | ||
| Q2 25 | 4.85× | 4.06× | ||
| Q1 25 | 4.70× | 4.14× | ||
| Q4 24 | 1.36× | 6.49× | ||
| Q3 24 | 4.37× | — | ||
| Q2 24 | 4.17× | 13.06× | ||
| Q1 24 | 4.06× | 12.65× |
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 | $99.8M | $980.0K |
| Free Cash FlowOCF − Capex | — | $-2.2M |
| FCF MarginFCF / Revenue | — | -2.4% |
| Capex IntensityCapex / Revenue | — | 3.5% |
| Cash ConversionOCF / Net Profit | 15.35× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $16.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $980.0K | ||
| Q3 25 | $20.6M | $10.6M | ||
| Q2 25 | $26.6M | $13.6M | ||
| Q1 25 | $30.4M | $401.0K | ||
| Q4 24 | $121.2M | $12.4M | ||
| Q3 24 | $26.5M | $5.6M | ||
| Q2 24 | $32.1M | $11.7M | ||
| Q1 24 | $33.8M | $-3.4M |
| Q4 25 | — | $-2.2M | ||
| Q3 25 | — | $7.6M | ||
| Q2 25 | — | $11.9M | ||
| Q1 25 | — | $-424.0K | ||
| Q4 24 | — | $11.6M | ||
| Q3 24 | $-28.3M | $4.5M | ||
| Q2 24 | $-12.5M | $10.7M | ||
| Q1 24 | $-11.7M | $-4.2M |
| Q4 25 | — | -2.4% | ||
| Q3 25 | — | 8.8% | ||
| Q2 25 | — | 14.1% | ||
| Q1 25 | — | -0.5% | ||
| Q4 24 | — | 13.3% | ||
| Q3 24 | -42.1% | 5.4% | ||
| Q2 24 | -18.7% | 13.0% | ||
| Q1 24 | -17.6% | -5.3% |
| Q4 25 | — | 3.5% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | 81.5% | 1.3% | ||
| Q2 24 | 66.7% | 1.3% | ||
| Q1 24 | 68.3% | 1.0% |
| Q4 25 | 15.35× | — | ||
| Q3 25 | 1.97× | — | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 3.10× | — | ||
| Q4 24 | 14.98× | — | ||
| Q3 24 | 1.83× | — | ||
| Q2 24 | 2.22× | — | ||
| Q1 24 | 2.48× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
CMRC
| Subscription And Circulation | $65.2M | 73% |
| Partner And Services | $24.4M | 27% |
