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Side-by-side financial comparison of ENNIS, INC. (EBF) 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 $100.2M, roughly 1.9× ENNIS, INC.). SPS COMMERCE INC runs the higher net margin — 13.4% vs 10.8%, a 2.6% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs 0.4%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $15.7M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs 1.4%).
ENNIS, INC. (ticker EBF) is a leading North American provider of printed business products and related services. Its offerings include custom business forms, pressure-sensitive labels, marketing collateral, promotional items, and branded packaging, serving clients across retail, healthcare, financial services, and small business segments.
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.
EBF vs SPSC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $100.2M | $192.7M |
| Net Profit | $10.8M | $25.8M |
| Gross Margin | 31.9% | 70.4% |
| Operating Margin | 15.0% | 18.0% |
| Net Margin | 10.8% | 13.4% |
| Revenue YoY | 0.4% | 12.7% |
| Net Profit YoY | 6.1% | 47.2% |
| EPS (diluted) | $0.42 | $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 | $100.2M | $192.7M | ||
| Q3 25 | $98.7M | $189.9M | ||
| Q2 25 | $97.2M | $187.4M | ||
| Q1 25 | $92.7M | $181.5M | ||
| Q4 24 | $99.8M | $170.9M | ||
| Q3 24 | $99.0M | $163.7M | ||
| Q2 24 | $103.1M | $153.6M | ||
| Q1 24 | $97.4M | $149.6M |
| Q4 25 | $10.8M | $25.8M | ||
| Q3 25 | $13.2M | $25.6M | ||
| Q2 25 | $9.8M | $19.7M | ||
| Q1 25 | $9.0M | $22.2M | ||
| Q4 24 | $10.2M | $17.6M | ||
| Q3 24 | $10.3M | $23.5M | ||
| Q2 24 | $10.7M | $18.0M | ||
| Q1 24 | $10.1M | $18.0M |
| Q4 25 | 31.9% | 70.4% | ||
| Q3 25 | 30.5% | 69.5% | ||
| Q2 25 | 31.1% | 68.1% | ||
| Q1 25 | 29.5% | 68.7% | ||
| Q4 24 | 29.3% | 67.5% | ||
| Q3 24 | 30.1% | 68.5% | ||
| Q2 24 | 30.0% | 66.1% | ||
| Q1 24 | 28.4% | 65.6% |
| Q4 25 | 15.0% | 18.0% | ||
| Q3 25 | 12.5% | 16.4% | ||
| Q2 25 | 13.7% | 14.1% | ||
| Q1 25 | 13.0% | 14.3% | ||
| Q4 24 | 13.1% | 14.5% | ||
| Q3 24 | 13.3% | 15.6% | ||
| Q2 24 | 13.3% | 15.1% | ||
| Q1 24 | 13.3% | 10.3% |
| Q4 25 | 10.8% | 13.4% | ||
| Q3 25 | 13.3% | 13.5% | ||
| Q2 25 | 10.1% | 10.5% | ||
| Q1 25 | 9.7% | 12.2% | ||
| Q4 24 | 10.2% | 10.3% | ||
| Q3 24 | 10.4% | 14.3% | ||
| Q2 24 | 10.4% | 11.7% | ||
| Q1 24 | 10.4% | 12.0% |
| Q4 25 | $0.42 | $0.69 | ||
| Q3 25 | $0.51 | $0.67 | ||
| Q2 25 | $0.38 | $0.52 | ||
| Q1 25 | $0.34 | $0.58 | ||
| Q4 24 | $0.39 | $0.46 | ||
| Q3 24 | $0.40 | $0.62 | ||
| Q2 24 | $0.41 | $0.48 | ||
| Q1 24 | $0.39 | $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 | $31.3M | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $304.8M | $973.9M |
| Total Assets | $354.3M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.3M | $151.4M | ||
| Q3 25 | $31.9M | $133.7M | ||
| Q2 25 | $32.6M | $107.6M | ||
| Q1 25 | $72.5M | $94.9M | ||
| Q4 24 | $68.6M | $241.0M | ||
| Q3 24 | $122.6M | $205.8M | ||
| Q2 24 | $123.7M | $271.8M | ||
| Q1 24 | $110.9M | $290.8M |
| Q4 25 | $304.8M | $973.9M | ||
| Q3 25 | $305.4M | $958.9M | ||
| Q2 25 | $301.2M | $949.8M | ||
| Q1 25 | $302.0M | $920.9M | ||
| Q4 24 | $297.7M | $854.7M | ||
| Q3 24 | $358.4M | $829.4M | ||
| Q2 24 | $354.4M | $703.4M | ||
| Q1 24 | $349.8M | $683.0M |
| Q4 25 | $354.3M | $1.2B | ||
| Q3 25 | $361.8M | $1.2B | ||
| Q2 25 | $361.7M | $1.1B | ||
| Q1 25 | $348.9M | $1.1B | ||
| Q4 24 | $346.1M | $1.0B | ||
| Q3 24 | $406.8M | $1.0B | ||
| Q2 24 | $406.2M | $854.5M | ||
| Q1 24 | $399.2M | $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 | $16.4M | $45.9M |
| Free Cash FlowOCF − Capex | $15.7M | $38.2M |
| FCF MarginFCF / Revenue | 15.7% | 19.8% |
| Capex IntensityCapex / Revenue | 0.7% | 4.0% |
| Cash ConversionOCF / Net Profit | 1.52× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $42.5M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.4M | $45.9M | ||
| Q3 25 | $10.5M | $60.6M | ||
| Q2 25 | $8.0M | $32.3M | ||
| Q1 25 | $12.8M | $40.0M | ||
| Q4 24 | $18.2M | $40.6M | ||
| Q3 24 | $11.8M | $53.3M | ||
| Q2 24 | $23.1M | $29.4M | ||
| Q1 24 | $16.6M | $34.1M |
| Q4 25 | $15.7M | $38.2M | ||
| Q3 25 | $9.0M | $54.6M | ||
| Q2 25 | $6.6M | $25.7M | ||
| Q1 25 | $11.1M | $33.8M | ||
| Q4 24 | $17.5M | $34.3M | ||
| Q3 24 | $10.7M | $48.1M | ||
| Q2 24 | $20.6M | $24.4M | ||
| Q1 24 | $15.0M | $30.5M |
| Q4 25 | 15.7% | 19.8% | ||
| Q3 25 | 9.2% | 28.7% | ||
| Q2 25 | 6.8% | 13.7% | ||
| Q1 25 | 12.0% | 18.6% | ||
| Q4 24 | 17.6% | 20.1% | ||
| Q3 24 | 10.8% | 29.4% | ||
| Q2 24 | 20.0% | 15.9% | ||
| Q1 24 | 15.3% | 20.4% |
| Q4 25 | 0.7% | 4.0% | ||
| Q3 25 | 1.4% | 3.2% | ||
| Q2 25 | 1.4% | 3.6% | ||
| Q1 25 | 1.8% | 3.4% | ||
| Q4 24 | 0.6% | 3.6% | ||
| Q3 24 | 1.1% | 3.2% | ||
| Q2 24 | 2.4% | 3.3% | ||
| Q1 24 | 1.7% | 2.4% |
| Q4 25 | 1.52× | 1.78× | ||
| Q3 25 | 0.80× | 2.37× | ||
| Q2 25 | 0.81× | 1.64× | ||
| Q1 25 | 1.41× | 1.80× | ||
| Q4 24 | 1.78× | 2.31× | ||
| Q3 24 | 1.15× | 2.27× | ||
| Q2 24 | 2.16× | 1.63× | ||
| Q1 24 | 1.63× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EBF
Segment breakdown not available.
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
