SPS Commerce vs Thryv
Thryv reported revenue of $785 million in fiscal 2025, about the same as SPS Commerce's $752 million in fiscal 2025. SPS Commerce's revenue grew 17.8% in its latest year, and Thryv's fell 4.8%. SPS Commerce had an operating margin of 15.7%, against 7.2% at Thryv. Free cash flow was $152 million at SPS Commerce and $31 million at Thryv.
Side by side
| SPS Commerce | Thryv | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $752M | $785M |
| Revenue growth | 17.8% | −4.8% |
| Revenue growth a year, last 5 years | 19.2% | −6.7% |
| Gross margin | 69.2% | 67.9% |
| Operating margin | 15.7% | 7.2% |
| Net margin | 12.4% | 0.0% |
| Free cash flow | $152M | $31M |
| Free cash flow margin | 20.3% | 4.0% |
| Return on capital | — | 6.1% |
| Net debt to EBITDA | — | 2.6x |
| Dividends and buybacks | $114M | $5M |
| Change in diluted share count | 0.4% | 19.8% |
| Last close | $81.91 | $1.18 |
| P/E at the last close | 36.2× | — |
| Insider trades, last 12 months | sold $2.1 million | — |
| Piotroski F-score | — | 7 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
SPS CommerceThryv
Operating margin
Percent of revenue
SPS CommerceThryv
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
SPS CommerceThryv
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the SPS Commerce and Thryv pages.