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Side-by-side financial comparison of OFG BANCORP (OFG) 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 $184.3M, roughly 1.0× OFG BANCORP). OFG BANCORP runs the higher net margin — 30.3% vs 13.4%, a 16.9% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs 0.9%). OFG BANCORP produced more free cash flow last quarter ($199.3M vs $38.2M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs 2.8%).
OFG Bancorp, founded in 1964, is the financial holding company for Oriental Bank, located in San Juan, Puerto Rico. OFG offers a wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico and the U.S. Virgin Islands through its principal subsidiaries: Oriental Bank, Oriental Financial Services LLC, and Oriental Insurance LLC. Its headquarters are located at Oriental Center, 254 Muñoz Rivera Avenue, San Juan, PR 00918....
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.
OFG vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $184.3M | $192.7M |
| Net Profit | $55.9M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | 25.7% | 18.0% |
| Net Margin | 30.3% | 13.4% |
| Revenue YoY | 0.9% | 12.7% |
| Net Profit YoY | 11.0% | 47.2% |
| EPS (diluted) | $1.27 | $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 | $184.3M | $192.7M | ||
| Q3 25 | $186.2M | $189.9M | ||
| Q2 25 | $182.4M | $187.4M | ||
| Q1 25 | $178.6M | $181.5M | ||
| Q4 24 | $182.7M | $170.9M | ||
| Q3 24 | $174.7M | $163.7M | ||
| Q2 24 | $179.8M | $153.6M | ||
| Q1 24 | $174.4M | $149.6M |
| Q4 25 | $55.9M | $25.8M | ||
| Q3 25 | $51.8M | $25.6M | ||
| Q2 25 | $51.8M | $19.7M | ||
| Q1 25 | $45.6M | $22.2M | ||
| Q4 24 | $50.3M | $17.6M | ||
| Q3 24 | $47.0M | $23.5M | ||
| Q2 24 | $51.1M | $18.0M | ||
| Q1 24 | $49.7M | $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 | 25.7% | 18.0% | ||
| Q3 25 | 33.0% | 16.4% | ||
| Q2 25 | 36.1% | 14.1% | ||
| Q1 25 | 33.3% | 14.3% | ||
| Q4 24 | 28.9% | 14.5% | ||
| Q3 24 | 35.4% | 15.6% | ||
| Q2 24 | 39.6% | 15.1% | ||
| Q1 24 | 38.9% | 10.3% |
| Q4 25 | 30.3% | 13.4% | ||
| Q3 25 | 27.8% | 13.5% | ||
| Q2 25 | 28.4% | 10.5% | ||
| Q1 25 | 25.5% | 12.2% | ||
| Q4 24 | 27.6% | 10.3% | ||
| Q3 24 | 26.9% | 14.3% | ||
| Q2 24 | 28.4% | 11.7% | ||
| Q1 24 | 28.5% | 12.0% |
| Q4 25 | $1.27 | $0.69 | ||
| Q3 25 | $1.16 | $0.67 | ||
| Q2 25 | $1.15 | $0.52 | ||
| Q1 25 | $1.00 | $0.58 | ||
| Q4 24 | $1.10 | $0.46 | ||
| Q3 24 | $1.00 | $0.62 | ||
| Q2 24 | $1.08 | $0.48 | ||
| Q1 24 | $1.05 | $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 | $1.0B | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $973.9M |
| Total Assets | $12.5B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $151.4M | ||
| Q3 25 | $740.3M | $133.7M | ||
| Q2 25 | $851.8M | $107.6M | ||
| Q1 25 | $710.6M | $94.9M | ||
| Q4 24 | $591.1M | $241.0M | ||
| Q3 24 | $680.6M | $205.8M | ||
| Q2 24 | $740.4M | $271.8M | ||
| Q1 24 | $754.4M | $290.8M |
| Q4 25 | $1.4B | $973.9M | ||
| Q3 25 | $1.4B | $958.9M | ||
| Q2 25 | $1.3B | $949.8M | ||
| Q1 25 | $1.3B | $920.9M | ||
| Q4 24 | $1.3B | $854.7M | ||
| Q3 24 | $1.3B | $829.4M | ||
| Q2 24 | $1.2B | $703.4M | ||
| Q1 24 | $1.2B | $683.0M |
| Q4 25 | $12.5B | $1.2B | ||
| Q3 25 | $12.2B | $1.2B | ||
| Q2 25 | $12.2B | $1.1B | ||
| Q1 25 | $11.7B | $1.1B | ||
| Q4 24 | $11.5B | $1.0B | ||
| Q3 24 | $11.5B | $1.0B | ||
| Q2 24 | $11.3B | $854.5M | ||
| Q1 24 | $11.2B | $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 | $217.7M | $45.9M |
| Free Cash FlowOCF − Capex | $199.3M | $38.2M |
| FCF MarginFCF / Revenue | 108.1% | 19.8% |
| Capex IntensityCapex / Revenue | 10.0% | 4.0% |
| Cash ConversionOCF / Net Profit | 3.90× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $345.4M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.7M | $45.9M | ||
| Q3 25 | $39.5M | $60.6M | ||
| Q2 25 | $35.9M | $32.3M | ||
| Q1 25 | $83.1M | $40.0M | ||
| Q4 24 | $252.5M | $40.6M | ||
| Q3 24 | $58.1M | $53.3M | ||
| Q2 24 | $95.1M | $29.4M | ||
| Q1 24 | $61.0M | $34.1M |
| Q4 25 | $199.3M | $38.2M | ||
| Q3 25 | $35.5M | $54.6M | ||
| Q2 25 | $31.8M | $25.7M | ||
| Q1 25 | $78.7M | $33.8M | ||
| Q4 24 | $231.2M | $34.3M | ||
| Q3 24 | $51.8M | $48.1M | ||
| Q2 24 | $90.4M | $24.4M | ||
| Q1 24 | $54.8M | $30.5M |
| Q4 25 | 108.1% | 19.8% | ||
| Q3 25 | 19.1% | 28.7% | ||
| Q2 25 | 17.4% | 13.7% | ||
| Q1 25 | 44.1% | 18.6% | ||
| Q4 24 | 126.5% | 20.1% | ||
| Q3 24 | 29.6% | 29.4% | ||
| Q2 24 | 50.3% | 15.9% | ||
| Q1 24 | 31.4% | 20.4% |
| Q4 25 | 10.0% | 4.0% | ||
| Q3 25 | 2.1% | 3.2% | ||
| Q2 25 | 2.3% | 3.6% | ||
| Q1 25 | 2.4% | 3.4% | ||
| Q4 24 | 11.7% | 3.6% | ||
| Q3 24 | 3.6% | 3.2% | ||
| Q2 24 | 2.6% | 3.3% | ||
| Q1 24 | 3.5% | 2.4% |
| Q4 25 | 3.90× | 1.78× | ||
| Q3 25 | 0.76× | 2.37× | ||
| Q2 25 | 0.69× | 1.64× | ||
| Q1 25 | 1.82× | 1.80× | ||
| Q4 24 | 5.02× | 2.31× | ||
| Q3 24 | 1.24× | 2.27× | ||
| Q2 24 | 1.86× | 1.63× | ||
| Q1 24 | 1.23× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OFG
Segment breakdown not available.
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
