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Side-by-side financial comparison of Douglas Elliman Inc. (DOUG) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
Douglas Elliman Inc. is the larger business by last-quarter revenue ($245.4M vs $192.7M, roughly 1.3× SPS COMMERCE INC). Douglas Elliman Inc. runs the higher net margin — 27.9% vs 13.4%, a 14.5% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs 0.9%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $-14.7M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs 10.7%).
Douglas Elliman Inc. is a leading U.S.-based residential real estate brokerage firm. It offers luxury property sales, rentals, property management, and advisory solutions, serving high-net-worth clients across key metro markets including New York, California, Florida, and Texas.
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.
DOUG vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $245.4M | $192.7M |
| Net Profit | $68.6M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | 27.3% | 18.0% |
| Net Margin | 27.9% | 13.4% |
| Revenue YoY | 0.9% | 12.7% |
| Net Profit YoY | 1243.4% | 47.2% |
| EPS (diluted) | $0.80 | $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 | $245.4M | $192.7M | ||
| Q3 25 | $262.8M | $189.9M | ||
| Q2 25 | $271.4M | $187.4M | ||
| Q1 25 | $253.4M | $181.5M | ||
| Q4 24 | $243.3M | $170.9M | ||
| Q3 24 | $266.3M | $163.7M | ||
| Q2 24 | $285.8M | $153.6M | ||
| Q1 24 | $200.2M | $149.6M |
| Q4 25 | $68.6M | $25.8M | ||
| Q3 25 | $-24.7M | $25.6M | ||
| Q2 25 | $-22.7M | $19.7M | ||
| Q1 25 | $-6.0M | $22.2M | ||
| Q4 24 | $-6.0M | $17.6M | ||
| Q3 24 | $-27.2M | $23.5M | ||
| Q2 24 | $-1.7M | $18.0M | ||
| Q1 24 | $-41.5M | $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 | 27.3% | 18.0% | ||
| Q3 25 | -4.1% | 16.4% | ||
| Q2 25 | -2.0% | 14.1% | ||
| Q1 25 | -2.1% | 14.3% | ||
| Q4 24 | -6.7% | 14.5% | ||
| Q3 24 | -2.8% | 15.6% | ||
| Q2 24 | -1.3% | 15.1% | ||
| Q1 24 | -20.7% | 10.3% |
| Q4 25 | 27.9% | 13.4% | ||
| Q3 25 | -9.4% | 13.5% | ||
| Q2 25 | -8.4% | 10.5% | ||
| Q1 25 | -2.4% | 12.2% | ||
| Q4 24 | -2.5% | 10.3% | ||
| Q3 24 | -10.2% | 14.3% | ||
| Q2 24 | -0.6% | 11.7% | ||
| Q1 24 | -20.7% | 12.0% |
| Q4 25 | $0.80 | $0.69 | ||
| Q3 25 | $-0.29 | $0.67 | ||
| Q2 25 | $-0.27 | $0.52 | ||
| Q1 25 | $-0.07 | $0.58 | ||
| Q4 24 | $-0.06 | $0.46 | ||
| Q3 24 | $-0.33 | $0.62 | ||
| Q2 24 | $-0.02 | $0.48 | ||
| Q1 24 | $-0.50 | $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 | $115.5M | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $183.9M | $973.9M |
| Total Assets | $444.4M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $115.5M | $151.4M | ||
| Q3 25 | $143.0M | $133.7M | ||
| Q2 25 | $136.3M | $107.6M | ||
| Q1 25 | $136.8M | $94.9M | ||
| Q4 24 | $145.5M | $241.0M | ||
| Q3 24 | $151.4M | $205.8M | ||
| Q2 24 | $92.9M | $271.8M | ||
| Q1 24 | $91.5M | $290.8M |
| Q4 25 | $183.9M | $973.9M | ||
| Q3 25 | $115.1M | $958.9M | ||
| Q2 25 | $137.6M | $949.8M | ||
| Q1 25 | $158.2M | $920.9M | ||
| Q4 24 | $162.2M | $854.7M | ||
| Q3 24 | $173.6M | $829.4M | ||
| Q2 24 | $196.9M | $703.4M | ||
| Q1 24 | $195.1M | $683.0M |
| Q4 25 | $444.4M | $1.2B | ||
| Q3 25 | $480.6M | $1.2B | ||
| Q2 25 | $489.0M | $1.1B | ||
| Q1 25 | $493.9M | $1.1B | ||
| Q4 24 | $493.9M | $1.0B | ||
| Q3 24 | $502.7M | $1.0B | ||
| Q2 24 | $463.9M | $854.5M | ||
| Q1 24 | $461.1M | $839.8M |
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 | $-14.4M | $45.9M |
| Free Cash FlowOCF − Capex | $-14.7M | $38.2M |
| FCF MarginFCF / Revenue | -6.0% | 19.8% |
| Capex IntensityCapex / Revenue | 0.1% | 4.0% |
| Cash ConversionOCF / Net Profit | -0.21× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $-17.2M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-14.4M | $45.9M | ||
| Q3 25 | $5.5M | $60.6M | ||
| Q2 25 | $642.0K | $32.3M | ||
| Q1 25 | $-5.6M | $40.0M | ||
| Q4 24 | $-9.0M | $40.6M | ||
| Q3 24 | $9.0M | $53.3M | ||
| Q2 24 | $1.3M | $29.4M | ||
| Q1 24 | $-27.3M | $34.1M |
| Q4 25 | $-14.7M | $38.2M | ||
| Q3 25 | $4.7M | $54.6M | ||
| Q2 25 | $-575.0K | $25.7M | ||
| Q1 25 | $-6.7M | $33.8M | ||
| Q4 24 | $-10.2M | $34.3M | ||
| Q3 24 | $7.7M | $48.1M | ||
| Q2 24 | $432.0K | $24.4M | ||
| Q1 24 | $-29.4M | $30.5M |
| Q4 25 | -6.0% | 19.8% | ||
| Q3 25 | 1.8% | 28.7% | ||
| Q2 25 | -0.2% | 13.7% | ||
| Q1 25 | -2.6% | 18.6% | ||
| Q4 24 | -4.2% | 20.1% | ||
| Q3 24 | 2.9% | 29.4% | ||
| Q2 24 | 0.2% | 15.9% | ||
| Q1 24 | -14.7% | 20.4% |
| Q4 25 | 0.1% | 4.0% | ||
| Q3 25 | 0.3% | 3.2% | ||
| Q2 25 | 0.4% | 3.6% | ||
| Q1 25 | 0.4% | 3.4% | ||
| Q4 24 | 0.5% | 3.6% | ||
| Q3 24 | 0.5% | 3.2% | ||
| Q2 24 | 0.3% | 3.3% | ||
| Q1 24 | 1.0% | 2.4% |
| Q4 25 | -0.21× | 1.78× | ||
| Q3 25 | — | 2.37× | ||
| Q2 25 | — | 1.64× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | — | 1.63× | ||
| Q1 24 | — | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DOUG
| Commissions And Other Brokerage Income | $240.3M | 98% |
| Property Management Income | $2.8M | 1% |
| Property Management | $2.2M | 1% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
