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Side-by-side financial comparison of Eastern Bankshares, Inc. (EBC) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
Eastern Bankshares, Inc. is the larger business by last-quarter revenue ($295.9M vs $192.7M, roughly 1.5× SPS COMMERCE INC). Eastern Bankshares, Inc. runs the higher net margin — 22.1% vs 13.4%, a 8.7% gap on every dollar of revenue. On growth, Eastern Bankshares, Inc. posted the faster year-over-year revenue change (710.6% vs 12.7%). Over the past eight quarters, Eastern Bankshares, Inc.'s revenue compounded faster (38.6% CAGR vs 13.5%).
Eastern Bank is a bank based in Boston, Massachusetts. Before de-mutualizing in 2020, it was the oldest and largest mutual bank in the United States and the largest community bank in Massachusetts.
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.
EBC vs SPSC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $295.9M | $192.7M |
| Net Profit | $65.3M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | — | 18.0% |
| Net Margin | 22.1% | 13.4% |
| Revenue YoY | 710.6% | 12.7% |
| Net Profit YoY | -34.4% | 47.2% |
| EPS (diluted) | $0.29 | $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.
| Q1 26 | $295.9M | — | ||
| Q4 25 | $37.5M | $192.7M | ||
| Q3 25 | $241.5M | $189.9M | ||
| Q2 25 | $244.9M | $187.4M | ||
| Q1 25 | $31.1M | $181.5M | ||
| Q4 24 | $216.5M | $170.9M | ||
| Q3 24 | $203.4M | $163.7M | ||
| Q2 24 | $154.0M | $153.6M |
| Q1 26 | $65.3M | — | ||
| Q4 25 | $99.5M | $25.8M | ||
| Q3 25 | $106.1M | $25.6M | ||
| Q2 25 | $100.2M | $19.7M | ||
| Q1 25 | $-217.7M | $22.2M | ||
| Q4 24 | $60.8M | $17.6M | ||
| Q3 24 | $-6.2M | $23.5M | ||
| Q2 24 | $26.3M | $18.0M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | — | 18.0% | ||
| Q3 25 | 38.9% | 16.4% | ||
| Q2 25 | 41.0% | 14.1% | ||
| Q1 25 | -590.9% | 14.3% | ||
| Q4 24 | 33.3% | 14.5% | ||
| Q3 24 | -1.6% | 15.6% | ||
| Q2 24 | 24.7% | 15.1% |
| Q1 26 | 22.1% | — | ||
| Q4 25 | 265.6% | 13.4% | ||
| Q3 25 | 44.0% | 13.5% | ||
| Q2 25 | 40.9% | 10.5% | ||
| Q1 25 | -699.2% | 12.2% | ||
| Q4 24 | 28.1% | 10.3% | ||
| Q3 24 | -3.0% | 14.3% | ||
| Q2 24 | 17.1% | 11.7% |
| Q1 26 | $0.29 | — | ||
| Q4 25 | $0.48 | $0.69 | ||
| Q3 25 | $0.53 | $0.67 | ||
| Q2 25 | $0.50 | $0.52 | ||
| Q1 25 | $-1.08 | $0.58 | ||
| Q4 24 | $0.29 | $0.46 | ||
| Q3 24 | $-0.03 | $0.62 | ||
| Q2 24 | $0.16 | $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 | $551.7M | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.3B | $973.9M |
| Total Assets | $30.6B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $551.7M | — | ||
| Q4 25 | $507.6M | $151.4M | ||
| Q3 25 | $703.4M | $133.7M | ||
| Q2 25 | $948.3M | $107.6M | ||
| Q1 25 | $609.0M | $94.9M | ||
| Q4 24 | $1.9B | $241.0M | ||
| Q3 24 | $1.7B | $205.8M | ||
| Q2 24 | $1.4B | $271.8M |
| Q1 26 | $4.3B | — | ||
| Q4 25 | $4.3B | $973.9M | ||
| Q3 25 | $3.8B | $958.9M | ||
| Q2 25 | $3.7B | $949.8M | ||
| Q1 25 | $3.6B | $920.9M | ||
| Q4 24 | $3.6B | $854.7M | ||
| Q3 24 | $3.7B | $829.4M | ||
| Q2 24 | $3.0B | $703.4M |
| Q1 26 | $30.6B | — | ||
| Q4 25 | $30.6B | $1.2B | ||
| Q3 25 | $25.5B | $1.2B | ||
| Q2 25 | $25.5B | $1.1B | ||
| Q1 25 | $25.0B | $1.1B | ||
| Q4 24 | $25.6B | $1.0B | ||
| Q3 24 | $25.5B | $1.0B | ||
| Q2 24 | $21.0B | $854.5M |
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 | — | $45.9M |
| Free Cash FlowOCF − Capex | — | $38.2M |
| FCF MarginFCF / Revenue | — | 19.8% |
| Capex IntensityCapex / Revenue | — | 4.0% |
| Cash ConversionOCF / Net Profit | — | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | — | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $432.4M | $45.9M | ||
| Q3 25 | $157.1M | $60.6M | ||
| Q2 25 | $123.9M | $32.3M | ||
| Q1 25 | $47.3M | $40.0M | ||
| Q4 24 | $283.8M | $40.6M | ||
| Q3 24 | $108.3M | $53.3M | ||
| Q2 24 | $54.3M | $29.4M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 4.35× | 1.78× | ||
| Q3 25 | 1.48× | 2.37× | ||
| Q2 25 | 1.24× | 1.64× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | 4.67× | 2.31× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | 2.06× | 1.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EBC
Segment breakdown not available.
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
