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Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and CARRIAGE SERVICES INC (CSV). Click either name above to swap in a different company.
CARRIAGE SERVICES INC is the larger business by last-quarter revenue ($105.5M vs $89.5M, roughly 1.2× Commerce.com, Inc.). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs -9.3%, a 21.0% gap on every dollar of revenue. On growth, CARRIAGE SERVICES INC posted the faster year-over-year revenue change (8.0% vs 2.9%). CARRIAGE SERVICES INC produced more free cash flow last quarter ($6.2M vs $-2.2M). Over the past eight quarters, Commerce.com, Inc.'s revenue compounded faster (5.5% CAGR vs 1.0%).
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.
Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.
CMRC vs CSV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $105.5M |
| Net Profit | $-8.4M | $12.3M |
| Gross Margin | 78.3% | 34.8% |
| Operating Margin | -7.4% | 23.3% |
| Net Margin | -9.3% | 11.6% |
| Revenue YoY | 2.9% | 8.0% |
| Net Profit YoY | -250.0% | 24.5% |
| EPS (diluted) | $-0.11 | $0.76 |
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 | $89.5M | $105.5M | ||
| Q3 25 | $86.0M | $102.7M | ||
| Q2 25 | $84.4M | $102.1M | ||
| Q1 25 | $82.4M | $107.1M | ||
| Q4 24 | $87.0M | $97.7M | ||
| Q3 24 | $83.7M | $100.7M | ||
| Q2 24 | $81.8M | $102.3M | ||
| Q1 24 | $80.4M | $103.5M |
| Q4 25 | $-8.4M | $12.3M | ||
| Q3 25 | $-2.2M | $6.6M | ||
| Q2 25 | $-8.4M | $11.7M | ||
| Q1 25 | $-353.0K | $20.9M | ||
| Q4 24 | $-2.4M | $9.9M | ||
| Q3 24 | $-7.0M | $9.9M | ||
| Q2 24 | $-11.3M | $6.3M | ||
| Q1 24 | $-6.4M | $7.0M |
| Q4 25 | 78.3% | 34.8% | ||
| Q3 25 | 78.4% | 35.3% | ||
| Q2 25 | 79.0% | 35.2% | ||
| Q1 25 | 79.4% | 35.3% | ||
| Q4 24 | 77.6% | 34.4% | ||
| Q3 24 | 76.3% | 35.2% | ||
| Q2 24 | 75.8% | 36.2% | ||
| Q1 24 | 77.1% | 36.0% |
| Q4 25 | -7.4% | 23.3% | ||
| Q3 25 | -0.5% | 17.0% | ||
| Q2 25 | -8.0% | 23.5% | ||
| Q1 25 | -2.9% | 29.5% | ||
| Q4 24 | -0.9% | 21.6% | ||
| Q3 24 | -23.0% | 22.7% | ||
| Q2 24 | -16.5% | 18.0% | ||
| Q1 24 | -10.2% | 18.8% |
| Q4 25 | -9.3% | 11.6% | ||
| Q3 25 | -2.6% | 6.4% | ||
| Q2 25 | -9.9% | 11.5% | ||
| Q1 25 | -0.4% | 19.5% | ||
| Q4 24 | -2.7% | 10.1% | ||
| Q3 24 | -8.4% | 9.8% | ||
| Q2 24 | -13.8% | 6.1% | ||
| Q1 24 | -8.0% | 6.7% |
| Q4 25 | $-0.11 | $0.76 | ||
| Q3 25 | $-0.03 | $0.41 | ||
| Q2 25 | $-0.10 | $0.74 | ||
| Q1 25 | $0.00 | $1.34 | ||
| Q4 24 | $-0.03 | $0.62 | ||
| Q3 24 | $-0.09 | $0.63 | ||
| Q2 24 | $-0.15 | $0.40 | ||
| Q1 24 | $-0.08 | $0.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $141.1M | $1.7M |
| Total DebtLower is stronger | $157.0M | — |
| Stockholders' EquityBook value | $39.4M | $254.8M |
| Total Assets | $308.8M | $1.3B |
| Debt / EquityLower = less leverage | 3.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $141.1M | $1.7M | ||
| Q3 25 | $142.0M | $1.2M | ||
| Q2 25 | $134.5M | $1.4M | ||
| Q1 25 | $120.7M | $4.6M | ||
| Q4 24 | $178.2M | $1.2M | ||
| Q3 24 | $168.4M | $1.3M | ||
| Q2 24 | $275.8M | $1.5M | ||
| Q1 24 | $265.2M | $1.7M |
| Q4 25 | $157.0M | — | ||
| Q3 25 | $157.3M | — | ||
| Q2 25 | $157.5M | — | ||
| Q1 25 | $157.8M | — | ||
| Q4 24 | $216.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $340.9M | — | ||
| Q1 24 | $340.5M | — |
| Q4 25 | $39.4M | $254.8M | ||
| Q3 25 | $42.8M | $242.1M | ||
| Q2 25 | $38.8M | $235.4M | ||
| Q1 25 | $38.1M | $223.1M | ||
| Q4 24 | $33.4M | $208.6M | ||
| Q3 24 | $29.0M | $198.1M | ||
| Q2 24 | $26.1M | $187.9M | ||
| Q1 24 | $26.9M | $179.6M |
| Q4 25 | $308.8M | $1.3B | ||
| Q3 25 | $309.5M | $1.3B | ||
| Q2 25 | $302.5M | $1.3B | ||
| Q1 25 | $286.3M | $1.3B | ||
| Q4 24 | $340.3M | $1.3B | ||
| Q3 24 | $335.1M | $1.3B | ||
| Q2 24 | $452.5M | $1.3B | ||
| Q1 24 | $442.5M | $1.3B |
| Q4 25 | 3.99× | — | ||
| Q3 25 | 3.67× | — | ||
| Q2 25 | 4.06× | — | ||
| Q1 25 | 4.14× | — | ||
| Q4 24 | 6.49× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 13.06× | — | ||
| Q1 24 | 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 | $980.0K | $14.1M |
| Free Cash FlowOCF − Capex | $-2.2M | $6.2M |
| FCF MarginFCF / Revenue | -2.4% | 5.9% |
| Capex IntensityCapex / Revenue | 3.5% | 7.5% |
| Cash ConversionOCF / Net Profit | — | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | $16.9M | $40.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $980.0K | $14.1M | ||
| Q3 25 | $10.6M | $24.7M | ||
| Q2 25 | $13.6M | $8.1M | ||
| Q1 25 | $401.0K | $13.8M | ||
| Q4 24 | $12.4M | $9.3M | ||
| Q3 24 | $5.6M | $20.9M | ||
| Q2 24 | $11.7M | $2.2M | ||
| Q1 24 | $-3.4M | $19.7M |
| Q4 25 | $-2.2M | $6.2M | ||
| Q3 25 | $7.6M | $18.0M | ||
| Q2 25 | $11.9M | $5.2M | ||
| Q1 25 | $-424.0K | $10.6M | ||
| Q4 24 | $11.6M | $4.9M | ||
| Q3 24 | $4.5M | $16.2M | ||
| Q2 24 | $10.7M | $-1.4M | ||
| Q1 24 | $-4.2M | $16.2M |
| Q4 25 | -2.4% | 5.9% | ||
| Q3 25 | 8.8% | 17.5% | ||
| Q2 25 | 14.1% | 5.1% | ||
| Q1 25 | -0.5% | 9.9% | ||
| Q4 24 | 13.3% | 5.0% | ||
| Q3 24 | 5.4% | 16.1% | ||
| Q2 24 | 13.0% | -1.4% | ||
| Q1 24 | -5.3% | 15.6% |
| Q4 25 | 3.5% | 7.5% | ||
| Q3 25 | 3.4% | 6.5% | ||
| Q2 25 | 2.0% | 2.8% | ||
| Q1 25 | 1.0% | 3.0% | ||
| Q4 24 | 0.9% | 4.5% | ||
| Q3 24 | 1.3% | 4.6% | ||
| Q2 24 | 1.3% | 3.5% | ||
| Q1 24 | 1.0% | 3.4% |
| Q4 25 | — | 1.15× | ||
| Q3 25 | — | 3.76× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.94× | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 2.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMRC
| Subscription And Circulation | $65.2M | 73% |
| Partner And Services | $24.4M | 27% |
CSV
| Propertyand Merchandise | $47.8M | 45% |
| Cemetery Interment Rights | $24.8M | 23% |
| Merchandise | $18.9M | 18% |
| Other Revenue | $10.2M | 10% |
| Other | $3.9M | 4% |
