analyticsVertical SaaS
Data as of Q1 2026
Summary Verdict
SPSC: 0—VEEV: 5wins
Rule of 40
35.0SPSC
105.9VEEV
check_circleVEEV leads
Revenue Growth
17.8%SPSC
18.1%VEEV
check_circleVEEV leads
Gross Margin
69%SPSC
76%VEEV
check_circleVEEV leads
FCF Margin
17.2%SPSC
87.8%VEEV
check_circleVEEV leads
Operating Margin
14.4%SPSC
29.1%VEEV
check_circleVEEV leads
NRR
—SPSC
—VEEV
Metric
Rule of 40Efficiency score
SPSC
35.0
VEEV
105.9check_circle
Revenue GrowthYoY
SPSC
17.8%
VEEV
18.1%check_circle
Gross Margin% of revenue
SPSC
69%
VEEV
76%check_circle
FCF MarginFree cash flow
SPSC
17.2%
VEEV
87.8%check_circle
Operating MarginGAAP
SPSC
14.4%
VEEV
29.1%check_circle
NRRNet retention
SPSC
N/A
VEEV
N/A
EV / RevenueValuation multiple
SPSC
2.4xcheck_circle
VEEV
8.3x
Market CapUSD
SPSC
$2.0B
VEEV
$28.2Bcheck_circle
ARR GrowthYoY
SPSC
N/A
VEEV
N/A
CAC PaybackMonths to recover
SPSC
N/A
VEEV
N/A
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insights
Analysis
As of Q1 2026, SPS Commerce, Inc. trades at 2.4x EV/Revenue versus Veeva Systems Inc. at 8.3x. On the Rule of 40, SPS Commerce, Inc. scores 35.0 compared to Veeva Systems Inc.'s 105.9, placing Veeva Systems Inc. ahead in operating efficiency. Gross margins stand at SPS Commerce, Inc. 69% vs Veeva Systems Inc. 76%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.