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Side-by-side financial comparison of CareTrust REIT, Inc. (CTRE) 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 $134.9M, roughly 1.4× CareTrust REIT, Inc.). CareTrust REIT, Inc. runs the higher net margin — 82.5% vs 13.4%, a 69.1% gap on every dollar of revenue. On growth, CareTrust REIT, Inc. posted the faster year-over-year revenue change (55.1% vs 12.7%). Over the past eight quarters, CareTrust REIT, Inc.'s revenue compounded faster (46.2% CAGR vs 13.5%).
CareTrust REIT, Inc.CTREEarnings & Financial Report
Target Healthcare REIT is a British property investment company which invests in healthcare properties and holds a large portfolio of care homes. It is structured as a real estate investment trust (REIT) and is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
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.
CTRE vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.9M | $192.7M |
| Net Profit | $111.3M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | — | 18.0% |
| Net Margin | 82.5% | 13.4% |
| Revenue YoY | 55.1% | 12.7% |
| Net Profit YoY | 113.5% | 47.2% |
| EPS (diluted) | $0.52 | $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 | $134.9M | $192.7M | ||
| Q3 25 | $132.4M | $189.9M | ||
| Q2 25 | $112.5M | $187.4M | ||
| Q1 25 | $96.6M | $181.5M | ||
| Q4 24 | $86.9M | $170.9M | ||
| Q3 24 | $77.4M | $163.7M | ||
| Q2 24 | $68.9M | $153.6M | ||
| Q1 24 | $63.1M | $149.6M |
| Q4 25 | $111.3M | $25.8M | ||
| Q3 25 | $74.9M | $25.6M | ||
| Q2 25 | $68.5M | $19.7M | ||
| Q1 25 | $65.8M | $22.2M | ||
| Q4 24 | $52.1M | $17.6M | ||
| Q3 24 | $33.4M | $23.5M | ||
| Q2 24 | $10.8M | $18.0M | ||
| Q1 24 | $28.7M | $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 | — | 18.0% | ||
| Q3 25 | 58.1% | 16.4% | ||
| Q2 25 | 61.3% | 14.1% | ||
| Q1 25 | — | 14.3% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | 43.0% | 15.6% | ||
| Q2 24 | 15.1% | 15.1% | ||
| Q1 24 | — | 10.3% |
| Q4 25 | 82.5% | 13.4% | ||
| Q3 25 | 56.6% | 13.5% | ||
| Q2 25 | 60.9% | 10.5% | ||
| Q1 25 | 68.1% | 12.2% | ||
| Q4 24 | 60.0% | 10.3% | ||
| Q3 24 | 43.2% | 14.3% | ||
| Q2 24 | 15.6% | 11.7% | ||
| Q1 24 | 45.6% | 12.0% |
| Q4 25 | $0.52 | $0.69 | ||
| Q3 25 | $0.35 | $0.67 | ||
| Q2 25 | $0.35 | $0.52 | ||
| Q1 25 | $0.35 | $0.58 | ||
| Q4 24 | $0.30 | $0.46 | ||
| Q3 24 | $0.21 | $0.62 | ||
| Q2 24 | $0.07 | $0.48 | ||
| Q1 24 | $0.22 | $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 | $198.0M | $151.4M |
| Total DebtLower is stronger | $894.2M | — |
| Stockholders' EquityBook value | $4.0B | $973.9M |
| Total Assets | $5.1B | $1.2B |
| Debt / EquityLower = less leverage | 0.22× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $198.0M | $151.4M | ||
| Q3 25 | $712.5M | $133.7M | ||
| Q2 25 | $306.1M | $107.6M | ||
| Q1 25 | $26.5M | $94.9M | ||
| Q4 24 | $213.8M | $241.0M | ||
| Q3 24 | $377.1M | $205.8M | ||
| Q2 24 | $495.1M | $271.8M | ||
| Q1 24 | $451.2M | $290.8M |
| Q4 25 | $894.2M | — | ||
| Q3 25 | $893.8M | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $822.1M | — | ||
| Q4 24 | $396.9M | — | ||
| Q3 24 | $396.7M | — | ||
| Q2 24 | $671.1M | — | ||
| Q1 24 | $595.9M | — |
| Q4 25 | $4.0B | $973.9M | ||
| Q3 25 | $4.0B | $958.9M | ||
| Q2 25 | $3.3B | $949.8M | ||
| Q1 25 | $2.9B | $920.9M | ||
| Q4 24 | $2.9B | $854.7M | ||
| Q3 24 | $2.4B | $829.4M | ||
| Q2 24 | $1.9B | $703.4M | ||
| Q1 24 | $1.7B | $683.0M |
| Q4 25 | $5.1B | $1.2B | ||
| Q3 25 | $5.1B | $1.2B | ||
| Q2 25 | $4.7B | $1.1B | ||
| Q1 25 | $3.9B | $1.1B | ||
| Q4 24 | $3.4B | $1.0B | ||
| Q3 24 | $2.9B | $1.0B | ||
| Q2 24 | $2.7B | $854.5M | ||
| Q1 24 | $2.3B | $839.8M |
| Q4 25 | 0.22× | — | ||
| Q3 25 | 0.22× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.16× | — | ||
| Q2 24 | 0.35× | — | ||
| Q1 24 | 0.36× | — |
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 | $394.0M | $45.9M |
| Free Cash FlowOCF − Capex | — | $38.2M |
| FCF MarginFCF / Revenue | — | 19.8% |
| Capex IntensityCapex / Revenue | — | 4.0% |
| Cash ConversionOCF / Net Profit | 3.54× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | — | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $394.0M | $45.9M | ||
| Q3 25 | $100.9M | $60.6M | ||
| Q2 25 | $100.8M | $32.3M | ||
| Q1 25 | $71.4M | $40.0M | ||
| Q4 24 | $244.3M | $40.6M | ||
| Q3 24 | $67.2M | $53.3M | ||
| Q2 24 | $53.0M | $29.4M | ||
| Q1 24 | $48.8M | $34.1M |
| Q4 25 | — | $38.2M | ||
| Q3 25 | — | $54.6M | ||
| Q2 25 | — | $25.7M | ||
| Q1 25 | — | $33.8M | ||
| Q4 24 | — | $34.3M | ||
| Q3 24 | — | $48.1M | ||
| Q2 24 | — | $24.4M | ||
| Q1 24 | — | $30.5M |
| Q4 25 | — | 19.8% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 13.7% | ||
| Q1 25 | — | 18.6% | ||
| Q4 24 | — | 20.1% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 15.9% | ||
| Q1 24 | — | 20.4% |
| Q4 25 | — | 4.0% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | 2.4% |
| Q4 25 | 3.54× | 1.78× | ||
| Q3 25 | 1.35× | 2.37× | ||
| Q2 25 | 1.47× | 1.64× | ||
| Q1 25 | 1.08× | 1.80× | ||
| Q4 24 | 4.68× | 2.31× | ||
| Q3 24 | 2.01× | 2.27× | ||
| Q2 24 | 4.92× | 1.63× | ||
| Q1 24 | 1.70× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CTRE
Segment breakdown not available.
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
