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Side-by-side financial comparison of PRA GROUP INC (PRAA) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
PRA GROUP INC is the larger business by last-quarter revenue ($333.4M vs $192.7M, roughly 1.7× SPS COMMERCE INC). PRA GROUP INC runs the higher net margin — 17.0% vs 13.4%, a 3.5% gap on every dollar of revenue. On growth, PRA GROUP INC posted the faster year-over-year revenue change (13.7% vs 12.7%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $-90.4M). Over the past eight quarters, PRA GROUP INC's revenue compounded faster (14.2% CAGR vs 13.5%).
PRA Group, Inc. is a publicly traded debt buyer and debt collection company based in Norfolk, Virginia. The company buys delinquent consumer debt from credit card issuers and other financial institutions at a discount and pursues collection of the full debt owed. Founded in 1996, PRA Group employs more than 3200 people in 18 countries.
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.
PRAA vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $333.4M | $192.7M |
| Net Profit | $56.5M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | 37.7% | 18.0% |
| Net Margin | 17.0% | 13.4% |
| Revenue YoY | 13.7% | 12.7% |
| Net Profit YoY | 206.3% | 47.2% |
| EPS (diluted) | $1.47 | $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 | $333.4M | $192.7M | ||
| Q3 25 | $311.1M | $189.9M | ||
| Q2 25 | $287.7M | $187.4M | ||
| Q1 25 | $269.6M | $181.5M | ||
| Q4 24 | $293.2M | $170.9M | ||
| Q3 24 | $281.5M | $163.7M | ||
| Q2 24 | $284.2M | $153.6M | ||
| Q1 24 | $255.6M | $149.6M |
| Q4 25 | $56.5M | $25.8M | ||
| Q3 25 | $-407.7M | $25.6M | ||
| Q2 25 | $42.4M | $19.7M | ||
| Q1 25 | $3.7M | $22.2M | ||
| Q4 24 | $18.5M | $17.6M | ||
| Q3 24 | $27.2M | $23.5M | ||
| Q2 24 | $21.5M | $18.0M | ||
| Q1 24 | $3.5M | $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 | 37.7% | 18.0% | ||
| Q3 25 | -101.4% | 16.4% | ||
| Q2 25 | 29.6% | 14.1% | ||
| Q1 25 | 27.7% | 14.3% | ||
| Q4 24 | 32.1% | 14.5% | ||
| Q3 24 | 32.0% | 15.6% | ||
| Q2 24 | 31.4% | 15.1% | ||
| Q1 24 | 26.0% | 10.3% |
| Q4 25 | 17.0% | 13.4% | ||
| Q3 25 | -131.0% | 13.5% | ||
| Q2 25 | 14.7% | 10.5% | ||
| Q1 25 | 1.4% | 12.2% | ||
| Q4 24 | 6.3% | 10.3% | ||
| Q3 24 | 9.6% | 14.3% | ||
| Q2 24 | 7.6% | 11.7% | ||
| Q1 24 | 1.4% | 12.0% |
| Q4 25 | $1.47 | $0.69 | ||
| Q3 25 | $-10.43 | $0.67 | ||
| Q2 25 | $1.08 | $0.52 | ||
| Q1 25 | $0.09 | $0.58 | ||
| Q4 24 | $0.47 | $0.46 | ||
| Q3 24 | $0.69 | $0.62 | ||
| Q2 24 | $0.54 | $0.48 | ||
| Q1 24 | $0.09 | $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 | $104.4M | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $979.9M | $973.9M |
| Total Assets | $5.1B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $104.4M | $151.4M | ||
| Q3 25 | $107.5M | $133.7M | ||
| Q2 25 | $131.6M | $107.6M | ||
| Q1 25 | $128.7M | $94.9M | ||
| Q4 24 | $105.9M | $241.0M | ||
| Q3 24 | $141.1M | $205.8M | ||
| Q2 24 | $118.9M | $271.8M | ||
| Q1 24 | $108.1M | $290.8M |
| Q4 25 | $979.9M | $973.9M | ||
| Q3 25 | $928.5M | $958.9M | ||
| Q2 25 | $1.3B | $949.8M | ||
| Q1 25 | $1.2B | $920.9M | ||
| Q4 24 | $1.1B | $854.7M | ||
| Q3 24 | $1.2B | $829.4M | ||
| Q2 24 | $1.1B | $703.4M | ||
| Q1 24 | $1.1B | $683.0M |
| Q4 25 | $5.1B | $1.2B | ||
| Q3 25 | $5.0B | $1.2B | ||
| Q2 25 | $5.4B | $1.1B | ||
| Q1 25 | $5.1B | $1.1B | ||
| Q4 24 | $4.9B | $1.0B | ||
| Q3 24 | $4.9B | $1.0B | ||
| Q2 24 | $4.7B | $854.5M | ||
| Q1 24 | $4.5B | $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 | $-85.5M | $45.9M |
| Free Cash FlowOCF − Capex | $-90.4M | $38.2M |
| FCF MarginFCF / Revenue | -27.1% | 19.8% |
| Capex IntensityCapex / Revenue | 1.4% | 4.0% |
| Cash ConversionOCF / Net Profit | -1.51× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $-169.4M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-85.5M | $45.9M | ||
| Q3 25 | $-10.1M | $60.6M | ||
| Q2 25 | $-12.9M | $32.3M | ||
| Q1 25 | $-52.6M | $40.0M | ||
| Q4 24 | $-94.6M | $40.6M | ||
| Q3 24 | $-35.0M | $53.3M | ||
| Q2 24 | $-29.5M | $29.4M | ||
| Q1 24 | $-73.0M | $34.1M |
| Q4 25 | $-90.4M | $38.2M | ||
| Q3 25 | $-11.3M | $54.6M | ||
| Q2 25 | $-14.2M | $25.7M | ||
| Q1 25 | $-53.5M | $33.8M | ||
| Q4 24 | $-98.6M | $34.3M | ||
| Q3 24 | $-36.1M | $48.1M | ||
| Q2 24 | $-30.8M | $24.4M | ||
| Q1 24 | $-73.5M | $30.5M |
| Q4 25 | -27.1% | 19.8% | ||
| Q3 25 | -3.6% | 28.7% | ||
| Q2 25 | -4.9% | 13.7% | ||
| Q1 25 | -19.8% | 18.6% | ||
| Q4 24 | -33.6% | 20.1% | ||
| Q3 24 | -12.8% | 29.4% | ||
| Q2 24 | -10.8% | 15.9% | ||
| Q1 24 | -28.8% | 20.4% |
| Q4 25 | 1.4% | 4.0% | ||
| Q3 25 | 0.4% | 3.2% | ||
| Q2 25 | 0.4% | 3.6% | ||
| Q1 25 | 0.3% | 3.4% | ||
| Q4 24 | 1.4% | 3.6% | ||
| Q3 24 | 0.4% | 3.2% | ||
| Q2 24 | 0.5% | 3.3% | ||
| Q1 24 | 0.2% | 2.4% |
| Q4 25 | -1.51× | 1.78× | ||
| Q3 25 | — | 2.37× | ||
| Q2 25 | -0.30× | 1.64× | ||
| Q1 25 | -14.37× | 1.80× | ||
| Q4 24 | -5.13× | 2.31× | ||
| Q3 24 | -1.29× | 2.27× | ||
| Q2 24 | -1.37× | 1.63× | ||
| Q1 24 | -21.01× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PRAA
| GB | $170.1M | 51% |
| Other | $163.3M | 49% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
