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Side-by-side financial comparison of Essent Group Ltd. (ESNT) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
Essent Group Ltd. is the larger business by last-quarter revenue ($312.4M vs $192.7M, roughly 1.6× SPS COMMERCE INC). Essent Group Ltd. runs the higher net margin — 49.6% vs 13.4%, a 36.2% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs -0.8%). Essent Group Ltd. produced more free cash flow last quarter ($848.7M vs $38.2M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs 2.3%).
Essentra PLC is a supplier of plastic and fibre products. The company operates internationally from headquarters in Kidlington, Oxfordshire. It is listed on the London Stock Exchange.
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.
ESNT vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $312.4M | $192.7M |
| Net Profit | $155.0M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | 59.1% | 18.0% |
| Net Margin | 49.6% | 13.4% |
| Revenue YoY | -0.8% | 12.7% |
| Net Profit YoY | -7.7% | 47.2% |
| EPS (diluted) | $1.61 | $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 | $312.4M | $192.7M | ||
| Q3 25 | $311.8M | $189.9M | ||
| Q2 25 | $319.1M | $187.4M | ||
| Q1 25 | $317.6M | $181.5M | ||
| Q4 24 | $315.0M | $170.9M | ||
| Q3 24 | $316.6M | $163.7M | ||
| Q2 24 | $312.9M | $153.6M | ||
| Q1 24 | $298.4M | $149.6M |
| Q4 25 | $155.0M | $25.8M | ||
| Q3 25 | $164.2M | $25.6M | ||
| Q2 25 | $195.3M | $19.7M | ||
| Q1 25 | $175.4M | $22.2M | ||
| Q4 24 | $167.9M | $17.6M | ||
| Q3 24 | $176.2M | $23.5M | ||
| Q2 24 | $203.6M | $18.0M | ||
| Q1 24 | $181.7M | $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 | 59.1% | 18.0% | ||
| Q3 25 | 63.9% | 16.4% | ||
| Q2 25 | 72.4% | 14.1% | ||
| Q1 25 | 65.2% | 14.3% | ||
| Q4 24 | 61.9% | 14.5% | ||
| Q3 24 | 65.6% | 15.6% | ||
| Q2 24 | 76.4% | 15.1% | ||
| Q1 24 | 71.6% | 10.3% |
| Q4 25 | 49.6% | 13.4% | ||
| Q3 25 | 52.7% | 13.5% | ||
| Q2 25 | 61.2% | 10.5% | ||
| Q1 25 | 55.2% | 12.2% | ||
| Q4 24 | 53.3% | 10.3% | ||
| Q3 24 | 55.6% | 14.3% | ||
| Q2 24 | 65.1% | 11.7% | ||
| Q1 24 | 60.9% | 12.0% |
| Q4 25 | $1.61 | $0.69 | ||
| Q3 25 | $1.67 | $0.67 | ||
| Q2 25 | $1.93 | $0.52 | ||
| Q1 25 | $1.69 | $0.58 | ||
| Q4 24 | $1.59 | $0.46 | ||
| Q3 24 | $1.65 | $0.62 | ||
| Q2 24 | $1.91 | $0.48 | ||
| Q1 24 | $1.70 | $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 | — | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.8B | $973.9M |
| Total Assets | $7.4B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $151.4M | ||
| Q3 25 | — | $133.7M | ||
| Q2 25 | — | $107.6M | ||
| Q1 25 | — | $94.9M | ||
| Q4 24 | — | $241.0M | ||
| Q3 24 | — | $205.8M | ||
| Q2 24 | — | $271.8M | ||
| Q1 24 | — | $290.8M |
| Q4 25 | $5.8B | $973.9M | ||
| Q3 25 | $5.7B | $958.9M | ||
| Q2 25 | $5.7B | $949.8M | ||
| Q1 25 | $5.7B | $920.9M | ||
| Q4 24 | $5.6B | $854.7M | ||
| Q3 24 | $5.6B | $829.4M | ||
| Q2 24 | $5.4B | $703.4M | ||
| Q1 24 | $5.2B | $683.0M |
| Q4 25 | $7.4B | $1.2B | ||
| Q3 25 | $7.4B | $1.2B | ||
| Q2 25 | $7.2B | $1.1B | ||
| Q1 25 | $7.2B | $1.1B | ||
| Q4 24 | $7.1B | $1.0B | ||
| Q3 24 | $7.1B | $1.0B | ||
| Q2 24 | $6.7B | $854.5M | ||
| Q1 24 | $6.6B | $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 | $856.1M | $45.9M |
| Free Cash FlowOCF − Capex | $848.7M | $38.2M |
| FCF MarginFCF / Revenue | 271.7% | 19.8% |
| Capex IntensityCapex / Revenue | 2.4% | 4.0% |
| Cash ConversionOCF / Net Profit | 5.52× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $856.1M | $45.9M | ||
| Q3 25 | $215.9M | $60.6M | ||
| Q2 25 | $189.5M | $32.3M | ||
| Q1 25 | $221.6M | $40.0M | ||
| Q4 24 | $861.5M | $40.6M | ||
| Q3 24 | $229.2M | $53.3M | ||
| Q2 24 | $188.7M | $29.4M | ||
| Q1 24 | $216.9M | $34.1M |
| Q4 25 | $848.7M | $38.2M | ||
| Q3 25 | $210.6M | $54.6M | ||
| Q2 25 | $188.8M | $25.7M | ||
| Q1 25 | $221.3M | $33.8M | ||
| Q4 24 | $854.8M | $34.3M | ||
| Q3 24 | $228.7M | $48.1M | ||
| Q2 24 | $187.6M | $24.4M | ||
| Q1 24 | $212.5M | $30.5M |
| Q4 25 | 271.7% | 19.8% | ||
| Q3 25 | 67.5% | 28.7% | ||
| Q2 25 | 59.2% | 13.7% | ||
| Q1 25 | 69.7% | 18.6% | ||
| Q4 24 | 271.3% | 20.1% | ||
| Q3 24 | 72.2% | 29.4% | ||
| Q2 24 | 60.0% | 15.9% | ||
| Q1 24 | 71.2% | 20.4% |
| Q4 25 | 2.4% | 4.0% | ||
| Q3 25 | 1.7% | 3.2% | ||
| Q2 25 | 0.2% | 3.6% | ||
| Q1 25 | 0.1% | 3.4% | ||
| Q4 24 | 2.1% | 3.6% | ||
| Q3 24 | 0.2% | 3.2% | ||
| Q2 24 | 0.3% | 3.3% | ||
| Q1 24 | 1.5% | 2.4% |
| Q4 25 | 5.52× | 1.78× | ||
| Q3 25 | 1.31× | 2.37× | ||
| Q2 25 | 0.97× | 1.64× | ||
| Q1 25 | 1.26× | 1.80× | ||
| Q4 24 | 5.13× | 2.31× | ||
| Q3 24 | 1.30× | 2.27× | ||
| Q2 24 | 0.93× | 1.63× | ||
| Q1 24 | 1.19× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESNT
| Mortgage Insurance Segment | $192.4M | 62% |
| Other | $120.0M | 38% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
