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Side-by-side financial comparison of FIRSTSUN CAPITAL BANCORP (FSUN) 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 $110.0M, roughly 1.8× FIRSTSUN CAPITAL BANCORP). FIRSTSUN CAPITAL BANCORP runs the higher net margin — 19.6% vs 13.4%, a 6.2% gap on every dollar of revenue. Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs 6.9%).
FirstSun Capital Bancorp is a U.S.-headquartered financial holding company that offers a comprehensive range of banking and financial services, including commercial and consumer lending, deposit products, wealth management, and treasury solutions. It mainly serves individual customers, small and medium-sized enterprises, and corporate clients across U.S. regional markets.
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.
FSUN vs SPSC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $110.0M | $192.7M |
| Net Profit | $21.6M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | — | 18.0% |
| Net Margin | 19.6% | 13.4% |
| Revenue YoY | — | 12.7% |
| Net Profit YoY | -8.4% | 47.2% |
| EPS (diluted) | $0.76 | $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 | $110.0M | — | ||
| Q4 25 | $110.2M | $192.7M | ||
| Q3 25 | $107.3M | $189.9M | ||
| Q2 25 | $105.6M | $187.4M | ||
| Q1 25 | $96.2M | $181.5M | ||
| Q4 24 | $98.7M | $170.9M | ||
| Q3 24 | $98.2M | $163.7M | ||
| Q2 24 | $96.2M | $153.6M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.8M | $25.8M | ||
| Q3 25 | $23.2M | $25.6M | ||
| Q2 25 | $26.4M | $19.7M | ||
| Q1 25 | $23.6M | $22.2M | ||
| Q4 24 | $16.4M | $17.6M | ||
| Q3 24 | $22.4M | $23.5M | ||
| Q2 24 | $24.6M | $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 | 29.0% | 18.0% | ||
| Q3 25 | 26.4% | 16.4% | ||
| Q2 25 | 31.2% | 14.1% | ||
| Q1 25 | 30.9% | 14.3% | ||
| Q4 24 | 20.4% | 14.5% | ||
| Q3 24 | 29.1% | 15.6% | ||
| Q2 24 | 32.3% | 15.1% |
| Q1 26 | 19.6% | — | ||
| Q4 25 | 22.5% | 13.4% | ||
| Q3 25 | 21.6% | 13.5% | ||
| Q2 25 | 25.0% | 10.5% | ||
| Q1 25 | 24.5% | 12.2% | ||
| Q4 24 | 16.6% | 10.3% | ||
| Q3 24 | 22.8% | 14.3% | ||
| Q2 24 | 25.5% | 11.7% |
| Q1 26 | $0.76 | — | ||
| Q4 25 | $0.89 | $0.69 | ||
| Q3 25 | $0.82 | $0.67 | ||
| Q2 25 | $0.93 | $0.52 | ||
| Q1 25 | $0.83 | $0.58 | ||
| Q4 24 | $0.57 | $0.46 | ||
| Q3 24 | $0.79 | $0.62 | ||
| Q2 24 | $0.88 | $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 | $413.7M | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $973.9M |
| Total Assets | $8.6B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $413.7M | — | ||
| Q4 25 | $652.6M | $151.4M | ||
| Q3 25 | $659.9M | $133.7M | ||
| Q2 25 | $785.1M | $107.6M | ||
| Q1 25 | $621.4M | $94.9M | ||
| Q4 24 | $615.9M | $241.0M | ||
| Q3 24 | $573.7M | $205.8M | ||
| Q2 24 | $535.8M | $271.8M |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $973.9M | ||
| Q3 25 | $1.1B | $958.9M | ||
| Q2 25 | $1.1B | $949.8M | ||
| Q1 25 | $1.1B | $920.9M | ||
| Q4 24 | $1.0B | $854.7M | ||
| Q3 24 | $1.0B | $829.4M | ||
| Q2 24 | $996.6M | $703.4M |
| Q1 26 | $8.6B | — | ||
| Q4 25 | $8.5B | $1.2B | ||
| Q3 25 | $8.5B | $1.2B | ||
| Q2 25 | $8.4B | $1.1B | ||
| Q1 25 | $8.2B | $1.1B | ||
| Q4 24 | $8.1B | $1.0B | ||
| Q3 24 | $8.1B | $1.0B | ||
| Q2 24 | $8.0B | $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 | $111.5M | $45.9M | ||
| Q3 25 | $49.4M | $60.6M | ||
| Q2 25 | $15.0M | $32.3M | ||
| Q1 25 | $26.4M | $40.0M | ||
| Q4 24 | $101.1M | $40.6M | ||
| Q3 24 | $48.1M | $53.3M | ||
| Q2 24 | $20.9M | $29.4M |
| Q1 26 | — | — | ||
| Q4 25 | $104.0M | $38.2M | ||
| Q3 25 | $47.6M | $54.6M | ||
| Q2 25 | $13.0M | $25.7M | ||
| Q1 25 | $24.3M | $33.8M | ||
| Q4 24 | $95.7M | $34.3M | ||
| Q3 24 | $47.1M | $48.1M | ||
| Q2 24 | $19.9M | $24.4M |
| Q1 26 | — | — | ||
| Q4 25 | 94.3% | 19.8% | ||
| Q3 25 | 44.4% | 28.7% | ||
| Q2 25 | 12.3% | 13.7% | ||
| Q1 25 | 25.3% | 18.6% | ||
| Q4 24 | 97.0% | 20.1% | ||
| Q3 24 | 47.9% | 29.4% | ||
| Q2 24 | 20.6% | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 6.8% | 4.0% | ||
| Q3 25 | 1.6% | 3.2% | ||
| Q2 25 | 1.9% | 3.6% | ||
| Q1 25 | 2.1% | 3.4% | ||
| Q4 24 | 5.5% | 3.6% | ||
| Q3 24 | 1.1% | 3.2% | ||
| Q2 24 | 1.1% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 4.49× | 1.78× | ||
| Q3 25 | 2.13× | 2.37× | ||
| Q2 25 | 0.57× | 1.64× | ||
| Q1 25 | 1.12× | 1.80× | ||
| Q4 24 | 6.18× | 2.31× | ||
| Q3 24 | 2.15× | 2.27× | ||
| Q2 24 | 0.85× | 1.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FSUN
| Net Interest Income | $82.8M | 75% |
| Noninterest Income | $27.2M | 25% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
