SPS Commerce Inc (SPSC)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	65,824	55,134	44,597	45,586	33,712
Revenue	US$ in thousands	536,910	450,875	385,276	312,630	279,124
Net profit margin		12.26%	12.23%	11.58%	14.58%	12.08%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $65,824K ÷ $536,910K
= 12.26%

The net profit margin of SPS Commerce Inc. has shown relatively stable performance in recent years, with values ranging from 11.58% to 14.58%. In 2023, the net profit margin was 12.26%, showing a slight increase compared to the previous year's 12.23%. This indicates that the company was able to effectively control its costs and expenses to maintain profitability. Despite some fluctuations, the net profit margin has generally remained within a reasonable range, reflecting a consistent level of efficiency in generating profits relative to its revenue.