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Side-by-side financial comparison of IDACORP INC (IDA) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
IDACORP INC is the larger business by last-quarter revenue ($360.1M vs $192.7M, roughly 1.9× SPS COMMERCE INC). SPS COMMERCE INC runs the higher net margin — 13.4% vs 12.1%, a 1.3% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs -4.2%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $-216.2M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs -7.2%).
IDACORP, Inc is an electricity holding company, incorporated in Idaho with headquarters in Boise. It comprises Idaho Power Company, IDACORP Financial and Ida-West Energy. It was formed on October 1, 1998.
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.
IDA vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $360.1M | $192.7M |
| Net Profit | $43.6M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | 14.9% | 18.0% |
| Net Margin | 12.1% | 13.4% |
| Revenue YoY | -4.2% | 12.7% |
| Net Profit YoY | 15.1% | 47.2% |
| EPS (diluted) | $0.78 | $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 | $360.1M | $192.7M | ||
| Q3 25 | $526.4M | $189.9M | ||
| Q2 25 | $449.3M | $187.4M | ||
| Q1 25 | $411.1M | $181.5M | ||
| Q4 24 | $375.9M | $170.9M | ||
| Q3 24 | $532.5M | $163.7M | ||
| Q2 24 | $442.6M | $153.6M | ||
| Q1 24 | $417.9M | $149.6M |
| Q4 25 | $43.6M | $25.8M | ||
| Q3 25 | $124.4M | $25.6M | ||
| Q2 25 | $95.8M | $19.7M | ||
| Q1 25 | $59.6M | $22.2M | ||
| Q4 24 | $37.9M | $17.6M | ||
| Q3 24 | $113.6M | $23.5M | ||
| Q2 24 | $89.5M | $18.0M | ||
| Q1 24 | $48.2M | $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 | 14.9% | 18.0% | ||
| Q3 25 | 27.5% | 16.4% | ||
| Q2 25 | 22.4% | 14.1% | ||
| Q1 25 | 13.4% | 14.3% | ||
| Q4 24 | 11.0% | 14.5% | ||
| Q3 24 | 25.1% | 15.6% | ||
| Q2 24 | 23.3% | 15.1% | ||
| Q1 24 | 11.9% | 10.3% |
| Q4 25 | 12.1% | 13.4% | ||
| Q3 25 | 23.6% | 13.5% | ||
| Q2 25 | 21.3% | 10.5% | ||
| Q1 25 | 14.5% | 12.2% | ||
| Q4 24 | 10.1% | 10.3% | ||
| Q3 24 | 21.3% | 14.3% | ||
| Q2 24 | 20.2% | 11.7% | ||
| Q1 24 | 11.5% | 12.0% |
| Q4 25 | $0.78 | $0.69 | ||
| Q3 25 | $2.26 | $0.67 | ||
| Q2 25 | $1.76 | $0.52 | ||
| Q1 25 | $1.10 | $0.58 | ||
| Q4 24 | $0.72 | $0.46 | ||
| Q3 24 | $2.12 | $0.62 | ||
| Q2 24 | $1.71 | $0.48 | ||
| Q1 24 | $0.95 | $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 | $215.7M | $151.4M |
| Total DebtLower is stronger | $3.3B | — |
| Stockholders' EquityBook value | $3.6B | $973.9M |
| Total Assets | $10.2B | $1.2B |
| Debt / EquityLower = less leverage | 0.93× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $215.7M | $151.4M | ||
| Q3 25 | $333.2M | $133.7M | ||
| Q2 25 | $474.5M | $107.6M | ||
| Q1 25 | $634.5M | $94.9M | ||
| Q4 24 | $368.9M | $241.0M | ||
| Q3 24 | $427.9M | $205.8M | ||
| Q2 24 | $169.6M | $271.8M | ||
| Q1 24 | $157.6M | $290.8M |
| Q4 25 | $3.3B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.6B | $973.9M | ||
| Q3 25 | $3.5B | $958.9M | ||
| Q2 25 | $3.4B | $949.8M | ||
| Q1 25 | $3.3B | $920.9M | ||
| Q4 24 | $3.3B | $854.7M | ||
| Q3 24 | $3.3B | $829.4M | ||
| Q2 24 | $3.2B | $703.4M | ||
| Q1 24 | $2.9B | $683.0M |
| Q4 25 | $10.2B | $1.2B | ||
| Q3 25 | $10.1B | $1.2B | ||
| Q2 25 | $9.9B | $1.1B | ||
| Q1 25 | $9.6B | $1.1B | ||
| Q4 24 | $9.2B | $1.0B | ||
| Q3 24 | $9.1B | $1.0B | ||
| Q2 24 | $8.7B | $854.5M | ||
| Q1 24 | $8.3B | $839.8M |
| Q4 25 | 0.93× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.92× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $137.8M | $45.9M |
| Free Cash FlowOCF − Capex | $-216.2M | $38.2M |
| FCF MarginFCF / Revenue | -60.0% | 19.8% |
| Capex IntensityCapex / Revenue | 98.3% | 4.0% |
| Cash ConversionOCF / Net Profit | 3.16× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $-577.5M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $137.8M | $45.9M | ||
| Q3 25 | $162.8M | $60.6M | ||
| Q2 25 | $176.9M | $32.3M | ||
| Q1 25 | $124.3M | $40.0M | ||
| Q4 24 | $136.4M | $40.6M | ||
| Q3 24 | $201.9M | $53.3M | ||
| Q2 24 | $146.4M | $29.4M | ||
| Q1 24 | $109.7M | $34.1M |
| Q4 25 | $-216.2M | $38.2M | ||
| Q3 25 | $-127.9M | $54.6M | ||
| Q2 25 | $-156.4M | $25.7M | ||
| Q1 25 | $-77.0M | $33.8M | ||
| Q4 24 | $-48.9M | $34.3M | ||
| Q3 24 | $-16.1M | $48.1M | ||
| Q2 24 | $-199.6M | $24.4M | ||
| Q1 24 | $-150.3M | $30.5M |
| Q4 25 | -60.0% | 19.8% | ||
| Q3 25 | -24.3% | 28.7% | ||
| Q2 25 | -34.8% | 13.7% | ||
| Q1 25 | -18.7% | 18.6% | ||
| Q4 24 | -13.0% | 20.1% | ||
| Q3 24 | -3.0% | 29.4% | ||
| Q2 24 | -45.1% | 15.9% | ||
| Q1 24 | -36.0% | 20.4% |
| Q4 25 | 98.3% | 4.0% | ||
| Q3 25 | 55.2% | 3.2% | ||
| Q2 25 | 74.2% | 3.6% | ||
| Q1 25 | 49.0% | 3.4% | ||
| Q4 24 | 49.3% | 3.6% | ||
| Q3 24 | 41.0% | 3.2% | ||
| Q2 24 | 78.2% | 3.3% | ||
| Q1 24 | 62.2% | 2.4% |
| Q4 25 | 3.16× | 1.78× | ||
| Q3 25 | 1.31× | 2.37× | ||
| Q2 25 | 1.85× | 1.64× | ||
| Q1 25 | 2.08× | 1.80× | ||
| Q4 24 | 3.60× | 2.31× | ||
| Q3 24 | 1.78× | 2.27× | ||
| Q2 24 | 1.63× | 1.63× | ||
| Q1 24 | 2.28× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IDA
| Retailrevenues | $323.0M | 90% |
| Transmissionserviceswheeling | $18.6M | 5% |
| Energyefficiencyprogramrevenues | $11.7M | 3% |
| Wholesaleenergysales | $10.5M | 3% |
| Otherrevenues | $9.5M | 3% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
