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Side-by-side financial comparison of PARK NATIONAL CORP (PRK) 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 $168.3M, roughly 1.1× PARK NATIONAL CORP). PARK NATIONAL CORP runs the higher net margin — 25.3% vs 13.4%, a 11.9% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs 2.2%). PARK NATIONAL CORP produced more free cash flow last quarter ($191.9M vs $38.2M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs 4.9%).
National Retail Systems, Inc. (NRS) includes Keystone Freight Corp. & National Retail Transportation, Inc. (NRT). NRS is an asset based 3PL founded in 1952. It is headquartered in Lyndhurst, New Jersey, United States.
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.
PRK vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $168.3M | $192.7M |
| Net Profit | $42.6M | $25.8M |
| Gross Margin | — | 70.4% |
| Operating Margin | — | 18.0% |
| Net Margin | 25.3% | 13.4% |
| Revenue YoY | 2.2% | 12.7% |
| Net Profit YoY | 10.4% | 47.2% |
| EPS (diluted) | $2.62 | $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 | $168.3M | $192.7M | ||
| Q3 25 | $169.5M | $189.9M | ||
| Q2 25 | $168.7M | $187.4M | ||
| Q1 25 | $157.9M | $181.5M | ||
| Q4 24 | $164.7M | $170.9M | ||
| Q3 24 | $170.3M | $163.7M | ||
| Q2 24 | $157.7M | $153.6M | ||
| Q1 24 | $152.8M | $149.6M |
| Q4 25 | $42.6M | $25.8M | ||
| Q3 25 | $47.2M | $25.6M | ||
| Q2 25 | $48.1M | $19.7M | ||
| Q1 25 | $42.2M | $22.2M | ||
| Q4 24 | $38.6M | $17.6M | ||
| Q3 24 | $38.2M | $23.5M | ||
| Q2 24 | $39.4M | $18.0M | ||
| Q1 24 | $35.2M | $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 | — | 18.0% | ||
| Q3 25 | 34.3% | 16.4% | ||
| Q2 25 | 35.2% | 14.1% | ||
| Q1 25 | 32.4% | 14.3% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | 27.4% | 15.6% | ||
| Q2 24 | 30.6% | 15.1% | ||
| Q1 24 | 27.8% | 10.3% |
| Q4 25 | 25.3% | 13.4% | ||
| Q3 25 | 27.8% | 13.5% | ||
| Q2 25 | 28.5% | 10.5% | ||
| Q1 25 | 26.7% | 12.2% | ||
| Q4 24 | 23.5% | 10.3% | ||
| Q3 24 | 22.4% | 14.3% | ||
| Q2 24 | 25.0% | 11.7% | ||
| Q1 24 | 23.0% | 12.0% |
| Q4 25 | $2.62 | $0.69 | ||
| Q3 25 | $2.92 | $0.67 | ||
| Q2 25 | $2.97 | $0.52 | ||
| Q1 25 | $2.60 | $0.58 | ||
| Q4 24 | $2.38 | $0.46 | ||
| Q3 24 | $2.35 | $0.62 | ||
| Q2 24 | $2.42 | $0.48 | ||
| Q1 24 | $2.17 | $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 | $233.5M | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $973.9M |
| Total Assets | $9.8B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $233.5M | $151.4M | ||
| Q3 25 | $218.9M | $133.7M | ||
| Q2 25 | $193.1M | $107.6M | ||
| Q1 25 | $237.6M | $94.9M | ||
| Q4 24 | $160.6M | $241.0M | ||
| Q3 24 | $201.7M | $205.8M | ||
| Q2 24 | $261.5M | $271.8M | ||
| Q1 24 | $306.1M | $290.8M |
| Q4 25 | $1.4B | $973.9M | ||
| Q3 25 | $1.3B | $958.9M | ||
| Q2 25 | $1.3B | $949.8M | ||
| Q1 25 | $1.3B | $920.9M | ||
| Q4 24 | $1.2B | $854.7M | ||
| Q3 24 | $1.2B | $829.4M | ||
| Q2 24 | $1.2B | $703.4M | ||
| Q1 24 | $1.2B | $683.0M |
| Q4 25 | $9.8B | $1.2B | ||
| Q3 25 | $9.9B | $1.2B | ||
| Q2 25 | $9.9B | $1.1B | ||
| Q1 25 | $9.9B | $1.1B | ||
| Q4 24 | $9.8B | $1.0B | ||
| Q3 24 | $9.9B | $1.0B | ||
| Q2 24 | $9.9B | $854.5M | ||
| Q1 24 | $9.9B | $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 | $198.3M | $45.9M |
| Free Cash FlowOCF − Capex | $191.9M | $38.2M |
| FCF MarginFCF / Revenue | 114.1% | 19.8% |
| Capex IntensityCapex / Revenue | 3.8% | 4.0% |
| Cash ConversionOCF / Net Profit | 4.65× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $328.2M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $198.3M | $45.9M | ||
| Q3 25 | $52.6M | $60.6M | ||
| Q2 25 | $49.7M | $32.3M | ||
| Q1 25 | $37.9M | $40.0M | ||
| Q4 24 | $178.8M | $40.6M | ||
| Q3 24 | $43.8M | $53.3M | ||
| Q2 24 | $50.9M | $29.4M | ||
| Q1 24 | $35.0M | $34.1M |
| Q4 25 | $191.9M | $38.2M | ||
| Q3 25 | $51.1M | $54.6M | ||
| Q2 25 | $48.4M | $25.7M | ||
| Q1 25 | $36.8M | $33.8M | ||
| Q4 24 | $169.7M | $34.3M | ||
| Q3 24 | $41.7M | $48.1M | ||
| Q2 24 | $49.0M | $24.4M | ||
| Q1 24 | $31.9M | $30.5M |
| Q4 25 | 114.1% | 19.8% | ||
| Q3 25 | 30.1% | 28.7% | ||
| Q2 25 | 28.7% | 13.7% | ||
| Q1 25 | 23.3% | 18.6% | ||
| Q4 24 | 103.0% | 20.1% | ||
| Q3 24 | 24.5% | 29.4% | ||
| Q2 24 | 31.1% | 15.9% | ||
| Q1 24 | 20.8% | 20.4% |
| Q4 25 | 3.8% | 4.0% | ||
| Q3 25 | 0.9% | 3.2% | ||
| Q2 25 | 0.8% | 3.6% | ||
| Q1 25 | 0.7% | 3.4% | ||
| Q4 24 | 5.6% | 3.6% | ||
| Q3 24 | 1.2% | 3.2% | ||
| Q2 24 | 1.2% | 3.3% | ||
| Q1 24 | 2.1% | 2.4% |
| Q4 25 | 4.65× | 1.78× | ||
| Q3 25 | 1.11× | 2.37× | ||
| Q2 25 | 1.03× | 1.64× | ||
| Q1 25 | 0.90× | 1.80× | ||
| Q4 24 | 4.63× | 2.31× | ||
| Q3 24 | 1.14× | 2.27× | ||
| Q2 24 | 1.29× | 1.63× | ||
| Q1 24 | 0.99× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PRK
Segment breakdown not available.
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
