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Side-by-side financial comparison of MOVADO GROUP INC (MOV) 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 $186.1M, roughly 1.0× MOVADO GROUP INC). SPS COMMERCE INC runs the higher net margin — 13.4% vs 5.1%, a 8.3% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs 1.9%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $11.6M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs 2.9%).
Movado is a luxury American watch brand originally founded in 1881 in Switzerland. Movado means "movement" in Esperanto. The watches are known for their signature metallic dot at 12 o'clock and minimalist style; the company is best known for its Museum Watch.
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.
MOV vs SPSC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $186.1M | $192.7M |
| Net Profit | $9.6M | $25.8M |
| Gross Margin | 54.3% | 70.4% |
| Operating Margin | 6.3% | 18.0% |
| Net Margin | 5.1% | 13.4% |
| Revenue YoY | 1.9% | 12.7% |
| Net Profit YoY | 89.8% | 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 | $186.1M | $192.7M | ||
| Q3 25 | $161.8M | $189.9M | ||
| Q2 25 | $131.8M | $187.4M | ||
| Q1 25 | $181.5M | $181.5M | ||
| Q4 24 | $180.5M | $170.9M | ||
| Q3 24 | $157.0M | $163.7M | ||
| Q2 24 | $134.4M | $153.6M | ||
| Q1 24 | $175.8M | $149.6M |
| Q4 25 | $9.6M | $25.8M | ||
| Q3 25 | $3.0M | $25.6M | ||
| Q2 25 | $1.4M | $19.7M | ||
| Q1 25 | $8.1M | $22.2M | ||
| Q4 24 | $4.8M | $17.6M | ||
| Q3 24 | $3.5M | $23.5M | ||
| Q2 24 | $2.0M | $18.0M | ||
| Q1 24 | $9.8M | $18.0M |
| Q4 25 | 54.3% | 70.4% | ||
| Q3 25 | 54.1% | 69.5% | ||
| Q2 25 | 54.1% | 68.1% | ||
| Q1 25 | 54.2% | 68.7% | ||
| Q4 24 | 53.5% | 67.5% | ||
| Q3 24 | 54.3% | 68.5% | ||
| Q2 24 | 54.3% | 66.1% | ||
| Q1 24 | 53.5% | 65.6% |
| Q4 25 | 6.3% | 18.0% | ||
| Q3 25 | 2.5% | 16.4% | ||
| Q2 25 | 0.2% | 14.1% | ||
| Q1 25 | 5.1% | 14.3% | ||
| Q4 24 | 3.3% | 14.5% | ||
| Q3 24 | 1.7% | 15.6% | ||
| Q2 24 | 1.6% | 15.1% | ||
| Q1 24 | 6.1% | 10.3% |
| Q4 25 | 5.1% | 13.4% | ||
| Q3 25 | 1.8% | 13.5% | ||
| Q2 25 | 1.1% | 10.5% | ||
| Q1 25 | 4.4% | 12.2% | ||
| Q4 24 | 2.7% | 10.3% | ||
| Q3 24 | 2.2% | 14.3% | ||
| Q2 24 | 1.5% | 11.7% | ||
| Q1 24 | 5.6% | 12.0% |
| Q4 25 | $0.42 | $0.69 | ||
| Q3 25 | $0.13 | $0.67 | ||
| Q2 25 | $0.06 | $0.52 | ||
| Q1 25 | $0.36 | $0.58 | ||
| Q4 24 | $0.21 | $0.46 | ||
| Q3 24 | $0.15 | $0.62 | ||
| Q2 24 | $0.09 | $0.48 | ||
| Q1 24 | $0.44 | $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 | $183.9M | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $497.5M | $973.9M |
| Total Assets | $751.9M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.9M | $151.4M | ||
| Q3 25 | $180.5M | $133.7M | ||
| Q2 25 | $203.1M | $107.6M | ||
| Q1 25 | $208.5M | $94.9M | ||
| Q4 24 | $181.5M | $241.0M | ||
| Q3 24 | $198.3M | $205.8M | ||
| Q2 24 | $225.4M | $271.8M | ||
| Q1 24 | $262.1M | $290.8M |
| Q4 25 | $497.5M | $973.9M | ||
| Q3 25 | $489.9M | $958.9M | ||
| Q2 25 | $493.2M | $949.8M | ||
| Q1 25 | $481.3M | $920.9M | ||
| Q4 24 | $491.3M | $854.7M | ||
| Q3 24 | $492.0M | $829.4M | ||
| Q2 24 | $489.6M | $703.4M | ||
| Q1 24 | $505.9M | $683.0M |
| Q4 25 | $751.9M | $1.2B | ||
| Q3 25 | $748.7M | $1.2B | ||
| Q2 25 | $747.2M | $1.1B | ||
| Q1 25 | $729.2M | $1.1B | ||
| Q4 24 | $747.2M | $1.0B | ||
| Q3 24 | $742.5M | $1.0B | ||
| Q2 24 | $736.0M | $854.5M | ||
| Q1 24 | $756.5M | $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 | $12.3M | $45.9M |
| Free Cash FlowOCF − Capex | $11.6M | $38.2M |
| FCF MarginFCF / Revenue | 6.2% | 19.8% |
| Capex IntensityCapex / Revenue | 0.4% | 4.0% |
| Cash ConversionOCF / Net Profit | 1.28× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $35.3M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.3M | $45.9M | ||
| Q3 25 | $-3.8M | $60.6M | ||
| Q2 25 | $-7.2M | $32.3M | ||
| Q1 25 | $39.1M | $40.0M | ||
| Q4 24 | $-4.7M | $40.6M | ||
| Q3 24 | $-17.8M | $53.3M | ||
| Q2 24 | $-18.1M | $29.4M | ||
| Q1 24 | $69.4M | $34.1M |
| Q4 25 | $11.6M | $38.2M | ||
| Q3 25 | $-5.1M | $54.6M | ||
| Q2 25 | $-8.7M | $25.7M | ||
| Q1 25 | $37.5M | $33.8M | ||
| Q4 24 | $-7.2M | $34.3M | ||
| Q3 24 | $-20.1M | $48.1M | ||
| Q2 24 | $-19.7M | $24.4M | ||
| Q1 24 | $67.8M | $30.5M |
| Q4 25 | 6.2% | 19.8% | ||
| Q3 25 | -3.1% | 28.7% | ||
| Q2 25 | -6.6% | 13.7% | ||
| Q1 25 | 20.7% | 18.6% | ||
| Q4 24 | -4.0% | 20.1% | ||
| Q3 24 | -12.8% | 29.4% | ||
| Q2 24 | -14.7% | 15.9% | ||
| Q1 24 | 38.6% | 20.4% |
| Q4 25 | 0.4% | 4.0% | ||
| Q3 25 | 0.8% | 3.2% | ||
| Q2 25 | 1.2% | 3.6% | ||
| Q1 25 | 0.9% | 3.4% | ||
| Q4 24 | 1.4% | 3.6% | ||
| Q3 24 | 1.5% | 3.2% | ||
| Q2 24 | 1.2% | 3.3% | ||
| Q1 24 | 0.9% | 2.4% |
| Q4 25 | 1.28× | 1.78× | ||
| Q3 25 | -1.27× | 2.37× | ||
| Q2 25 | -5.08× | 1.64× | ||
| Q1 25 | 4.86× | 1.80× | ||
| Q4 24 | -0.98× | 2.31× | ||
| Q3 24 | -5.14× | 2.27× | ||
| Q2 24 | -8.97× | 1.63× | ||
| Q1 24 | 7.06× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MOV
| Other | $81.4M | 44% |
| Owned Brands Category | $46.0M | 25% |
| Sales Channel Directly To Consumer | $35.3M | 19% |
| Company Stores | $23.4M | 13% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
