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Side-by-side financial comparison of FIRST COMMONWEALTH FINANCIAL CORP (FCF) 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 $133.7M, roughly 1.4× FIRST COMMONWEALTH FINANCIAL CORP). FIRST COMMONWEALTH FINANCIAL CORP runs the higher net margin — 28.1% vs 13.4%, a 14.7% gap on every dollar of revenue. On growth, FIRST COMMONWEALTH FINANCIAL CORP posted the faster year-over-year revenue change (13.0% vs 12.7%). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs 5.5%).
First Commonwealth Financial Corp is a Pennsylvania-based regional financial services holding company. It offers consumer and commercial banking products, loans, wealth management, and insurance services for individuals, small and mid-sized enterprises across central and western Pennsylvania and Ohio.
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.
FCF vs SPSC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $133.7M | $192.7M |
| Net Profit | $37.5M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | — | 18.0% |
| Net Margin | 28.1% | 13.4% |
| Revenue YoY | 13.0% | 12.7% |
| Net Profit YoY | 14.8% | 47.2% |
| EPS (diluted) | $0.37 | $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 | $133.7M | — | ||
| Q4 25 | $137.9M | $192.7M | ||
| Q3 25 | $136.0M | $189.9M | ||
| Q2 25 | $131.0M | $187.4M | ||
| Q1 25 | $118.0M | $181.5M | ||
| Q4 24 | $120.4M | $170.9M | ||
| Q3 24 | $121.2M | $163.7M | ||
| Q2 24 | $120.2M | $153.6M |
| Q1 26 | $37.5M | — | ||
| Q4 25 | $44.9M | $25.8M | ||
| Q3 25 | $41.3M | $25.6M | ||
| Q2 25 | $33.4M | $19.7M | ||
| Q1 25 | $32.7M | $22.2M | ||
| Q4 24 | $35.8M | $17.6M | ||
| Q3 24 | $32.1M | $23.5M | ||
| Q2 24 | $37.1M | $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 | 40.9% | 18.0% | ||
| Q3 25 | 38.1% | 16.4% | ||
| Q2 25 | 32.1% | 14.1% | ||
| Q1 25 | 34.8% | 14.3% | ||
| Q4 24 | 37.1% | 14.5% | ||
| Q3 24 | 33.4% | 15.6% | ||
| Q2 24 | 38.7% | 15.1% |
| Q1 26 | 28.1% | — | ||
| Q4 25 | 32.5% | 13.4% | ||
| Q3 25 | 30.4% | 13.5% | ||
| Q2 25 | 25.5% | 10.5% | ||
| Q1 25 | 27.7% | 12.2% | ||
| Q4 24 | 29.8% | 10.3% | ||
| Q3 24 | 26.5% | 14.3% | ||
| Q2 24 | 30.9% | 11.7% |
| Q1 26 | $0.37 | — | ||
| Q4 25 | $0.44 | $0.69 | ||
| Q3 25 | $0.39 | $0.67 | ||
| Q2 25 | $0.32 | $0.52 | ||
| Q1 25 | $0.32 | $0.58 | ||
| Q4 24 | $0.35 | $0.46 | ||
| Q3 24 | $0.31 | $0.62 | ||
| Q2 24 | $0.36 | $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 | $154.9M | — |
| Stockholders' EquityBook value | $1.6B | $973.9M |
| Total Assets | $12.3B | $1.2B |
| Debt / EquityLower = less leverage | 0.10× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| 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 26 | $154.9M | — | ||
| Q4 25 | $261.7M | — | ||
| Q3 25 | $262.1M | — | ||
| Q2 25 | $262.4M | — | ||
| Q1 25 | $262.7M | — | ||
| Q4 24 | $263.0M | — | ||
| Q3 24 | $136.3M | — | ||
| Q2 24 | $136.6M | — |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $973.9M | ||
| Q3 25 | $1.5B | $958.9M | ||
| Q2 25 | $1.5B | $949.8M | ||
| Q1 25 | $1.4B | $920.9M | ||
| Q4 24 | $1.4B | $854.7M | ||
| Q3 24 | $1.4B | $829.4M | ||
| Q2 24 | $1.4B | $703.4M |
| Q1 26 | $12.3B | — | ||
| Q4 25 | $12.3B | $1.2B | ||
| Q3 25 | $12.3B | $1.2B | ||
| Q2 25 | $12.2B | $1.1B | ||
| Q1 25 | $11.8B | $1.1B | ||
| Q4 24 | $11.6B | $1.0B | ||
| Q3 24 | $12.0B | $1.0B | ||
| Q2 24 | $11.6B | $854.5M |
| Q1 26 | 0.10× | — | ||
| Q4 25 | 0.17× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | 0.18× | — | ||
| Q4 24 | 0.19× | — | ||
| Q3 24 | 0.10× | — | ||
| Q2 24 | 0.10× | — |
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 | $187.5M | $45.9M | ||
| Q3 25 | $49.5M | $60.6M | ||
| Q2 25 | $30.4M | $32.3M | ||
| Q1 25 | $55.9M | $40.0M | ||
| Q4 24 | $129.5M | $40.6M | ||
| Q3 24 | $53.6M | $53.3M | ||
| Q2 24 | $22.7M | $29.4M |
| Q1 26 | — | — | ||
| Q4 25 | $171.5M | $38.2M | ||
| Q3 25 | — | $54.6M | ||
| Q2 25 | — | $25.7M | ||
| Q1 25 | — | $33.8M | ||
| Q4 24 | $113.9M | $34.3M | ||
| Q3 24 | — | $48.1M | ||
| Q2 24 | — | $24.4M |
| Q1 26 | — | — | ||
| Q4 25 | 124.3% | 19.8% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 13.7% | ||
| Q1 25 | — | 18.6% | ||
| Q4 24 | 94.6% | 20.1% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | 4.0% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | 12.9% | 3.6% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 4.18× | 1.78× | ||
| Q3 25 | 1.20× | 2.37× | ||
| Q2 25 | 0.91× | 1.64× | ||
| Q1 25 | 1.71× | 1.80× | ||
| Q4 24 | 3.61× | 2.31× | ||
| Q3 24 | 1.67× | 2.27× | ||
| Q2 24 | 0.61× | 1.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FCF
Segment breakdown not available.
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
