INSPERITY, INC.

NSP

Insperity, Inc. engages in the provision of human resources (HR) and business solutions to improve business performance for small and medium-sized businesses primarily in the United States. It offers Insperity HR360 solution, a full-service PEO solution delivering HR technology, compliance, and strategic support for small and midsize businesses; Insperity HRCore, a streamlined HR platform for...

Country: United StatesPrice: $52.20Market Cap: $2.0B

Company Profile

Industry: Business Services

Size: Small Cap($2.0B)

Revenue: $6.8B+3.5% YoY

Net Income: $7.0M-107.7% YoY

Financial Snapshot

Operating Margin-0.1%

Return on Equity-15.2%

Debt / Equity8.02

Current Ratio1.06

EPS (Diluted)$-0.19−45.9%

Buybacks (1y)$19.0M

Buybacks (2y)$82.0M

Shares Retired−1.3% / −1.1% 2y

Similar Companies

UBERUber Technologies, Inc

NBISNebius Group N.V.

$70.5B

Shareholder Return

Fiscal 2025

Issued 1.3% of shares last year, 1.1% issued over two.

Buybacks: $19.0M
Dividends: $90.0M

What drove EPS

A buyback raises earnings per share without the company earning more. This splits each year's change into the two.

FY22

45.9% = 44.3% + 1.1%

FY23

−3.7% = −4.5% + 0.8%

FY24

−45.9% = −46.8% + 1.7%

Earnings Fewer shares More shares

The two parts do not sum exactly to the total — the difference is the cross-term, plus preferred capital where the company has any. It is left visible rather than distributed into the other two.

Share count is the denominator the filer used for diluted EPS, recovered as net income ÷ EPS — not the balance-sheet count, which is a point-in-time figure and would put the timing difference into this split. Years with a loss are omitted: a smaller share count makes a loss per share larger, so the decomposition inverts.

Company Financials

Annual data (10-K) · Last 5 years

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Market Cap	$2.0B	$2.6Best.	$3.9Best.	$3.7Best.	$3.6Best.
Revenue	$6.8B↑4%	$6.6B↑1%	$6.5B↑9%	$5.9B↑19%	$5.0B
Operating Income	-$10.0M↓109%	$117.0M↓47%	$219.0M↓12%	$250.0M↑44%	$173.3M
Net Income	-$7.0M↓108%	$91.0M↓47%	$171.0M↓4%	$179.0M↑44%	$124.1M
EPS (Diluted)	$-0.19↓108%	$2.42↓46%	$4.47↓4%	$4.64↑46%	$3.18
Gross Margin	13.2%↓17%	16.0%	16.0%↓6%	17.0%↑3%	16.5%
Operating Margin	-0.1%↓108%	1.8%↓47%	3.4%↓20%	4.2%↑21%	3.5%
ROE	-15.2%↓116%	93.8%↓48%	181.9%↓18%	221.0%↑104%	-6204.0%
Total Debt	$369.0M	$369.0M	$369.0M	$369.4M	$369.4M
Shareholders' Equity	$46.0M↓53%	$97.0M↑3%	$94.0M↑16%	$81.0M↑4150%	-$2.0M
Current Ratio	1.06↓2%	1.08↓3%	1.11↓1%	1.12↑1%	1.10
Debt / Equity	8.02↑111%	3.80↓3%	3.93↓14%	4.56↑102%	-184.70
Operating Cash Flow	-$278.0M↓153%	$520.0M↑163%	$198.0M↓43%	$347.0M↑33%	$260.2M
Free Cash Flow	-$309.0M↓164%	$482.0M↑205%	$158.0M↓50%	$317.0M↑39%	$227.3M

Scored from 10-K1d ago

Metric	Marks Risk-Aware Value	Akre Three-Legged Stool	Druckenmiller Macro-Enhanced Growth	Spier Value Checklist	Pabrai Dhandho Framework	Munger Quality Focus	Ackman Activist Value	Piotroski F-Score	Greenblatt Magic Formula	Lynch GARP	Buffett Quality Compounder	Graham Defensive Value
Verdict	HOLD	PASS	HOLD	BUY	HOLD	PASS	FAIL	FAIL	Not ranked	FAIL	PASS	FAIL
Score
Analysis
Intrinsic Value							N/A			N/A		N/A
Margin of Safety	-22.0%	-1354.0%	-198.6%	-2327.9%	-2647.4%	+88.8%	N/A	-6189.2%	-237.4%	N/A	-3403.4%	N/A
Data As Of	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)	10-K (2026-08-15)

Where They Agree

Where They Disagree

Profitability
2 of 11 pass — Druckenmiller, Spier, Pabrai +6 more object
Discount to Intrinsic Value33.7% (IV=$33.50 vs Price=$22.21)
✓Marks>= 20% below intrinsic value
Positive Net Income Frequency27/29 years positive
✓MarksPositive net income in >= 7 of last 10 years
Return on Equity86.8% (3-yr avg)
✓AkreROE > 20% (3-year avg)
EPS Growth AccelerationLatest: -107.9%, Prior: -45.9%
✗DruckenmillerAccelerating EPS growth
Show 19 more metrics ▾Show fewer ▴
Margin of SafetyP/B=18.2x
✗SpierP/E < 15 AND P/B < 2.0✗PabraiP/B < 1.5 or P/E < 15
Operating Income / Revenue-0.1%
✗Ackman>= 15%
Net Income / Shareholders Equity-15.2%
✗Ackman>= 15%
Net Income / Total Assets-0.32%
✗PiotroskiROA > 0
ROA Change YoY3.50% -> -0.32% (delta: -3.82%)
✗PiotroskiCurrent ROA > Prior ROA
(CFO / Total Assets) vs ROACFO/Assets=-12.62%, ROA=-0.32%
✗PiotroskiCFO/Assets > ROA
Gross Margin Change YoY16.0% -> 13.2%
✗PiotroskiImproved YoY
EBIT / Enterprise Value-1.8%
✗Greenblatt> 10%
Earnings Yield + ROC AssessmentEY=-1.8%, ROC=N/A (invested capital <= 0)
✗GreenblattBoth EY > 10% and ROC > 25%
3-5 Year EPS CAGR
✗Lynch15-30% (Fast Grower); > 0% to pass
ROE-15.2%
✗Lynch> 15%
Net Income Positive (10+ years)27/29 years positive
✗BuffettPositive every year for 10+ years
ROE (5-yr avg)158.9%
✓Buffett> 15% (5-yr avg)
Operating Margin (10-yr trend)-0.1% (latest)
✓BuffettStable or rising over 10 years
Free Cash Flow Proxy$7.0M
✗BuffettPositive and growing
Earnings Variance (10-yr CoV)
✗BuffettCoV < 0.3
Retained Earnings Effectiveness-49.92x
✗Buffett$1 retained -> > $1 market value created
Positive EPS (10 years)27/29 years positive
✗GrahamPositive EPS every year for 10 years
EPS Growth (3-yr avg, 10-yr window)
✗Graham>= 33% growth
Debt & Leverage
No clean pass — all 8 investors flag at least one debt & leverage criterion
Interest Coverage & Debt/EBITDAIC=-0.4x, D/EBITDA=10.5x
✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
Debt Levels8.02
✗AkreDebt/Equity < 0.3✗MungerDebt/Equity < 0.5
Total Debt / Shareholders Equity8.02
✗Ackman<= 1.0
LT Debt / Total Assets Change14.21% -> 16.75%
✗PiotroskiDecreased YoY
Show 4 more metrics ▾Show fewer ▴
Total Debt / Equity8.02
✗Lynch< 0.33
Cash - Long-term Debt$273.0M
✓LynchPositive preferred
Debt/Equity & Interest CoverageD/E: 8.02, IC: -0.4x
✗BuffettD/E < 0.5 AND Interest Coverage > 5x
LT Debt vs Net Current AssetsLT Debt $369.0M vs NCA $102.0M
✗GrahamLT Debt <= Net Current Assets
Valuation
1 of 9 pass — Marks, Spier, Pabrai +5 more object
P/B or P/E vs. Historical AverageP/B=18.2x
✗MarksP/E < 15 or P/B < 2.0
Discount to Intrinsic Value33.7% (IV=$33.50 vs Price=$22.21)
✓Marks>= 20% below intrinsic value
Price vs. 200-day MAQualitative
✓DruckenmillerPrice above 200-day moving average
Margin of SafetyP/B=18.2x
✗SpierP/E < 15 AND P/B < 2.0
Show 9 more metrics ▾Show fewer ▴
P/E or FCF YieldFCF Yield=-36.9%
✗PabraiP/E < 15 or FCF Yield > 10%
Valuation ReasonablenessOE Yield=0.8%
✗MungerP/E < 25 or Owner Earnings Yield > 5%
Price / FCF per ShareN/A (negative FCF)
✗Ackman<= 25
EBIT / Enterprise Value-1.8%
✗Greenblatt> 10%
Earnings Yield + ROC AssessmentEY=-1.8%, ROC=N/A (invested capital <= 0)
✗GreenblattBoth EY > 10% and ROC > 25%
P/E / EPS Growth Rate
✗Lynch< 1.0 (ideally < 0.5)
Price / 3-yr avg EPS9.9x
✓Graham<= 15x
Price-to-Book Ratio18.2x
✗Graham<= 1.5x
P/E x P/B181.10
✗Graham<= 22.5
Cash Flow
1 of 6 pass — Pabrai, Ackman, Piotroski +2 more object
FCF Positive15/18 years FCF positive
✓MarksPositive FCF in majority of recent years
P/E or FCF YieldFCF Yield=-36.9%
✗PabraiP/E < 15 or FCF Yield > 10%
(OCF - CapEx) / Market Cap-36.9%
✗Ackman>= 4%
Price / FCF per ShareN/A (negative FCF)
✗Ackman<= 25
Show 4 more metrics ▾Show fewer ▴
Operating Cash Flow$-278.0M
✗PiotroskiCFO > 0
(CFO / Total Assets) vs ROACFO/Assets=-12.62%, ROA=-0.32%
✗PiotroskiCFO/Assets > ROA
FCF Positive and Growing$-309.0M
✗LynchPositive and growing
Free Cash Flow Proxy$7.0M
✗BuffettPositive and growing
Growth
1 of 5 pass — Druckenmiller, Ackman, Lynch +1 more object
Positive Net Income Frequency27/29 years positive
✓MarksPositive net income in >= 7 of last 10 years
EPS Growth AccelerationLatest: -107.9%, Prior: -45.9%
✗DruckenmillerAccelerating EPS growth
Revenue Growth RateLatest: 3.5%, Prior: 1.5%
✓DruckenmillerRevenue growth accelerating
3yr Median Revenue Growth3.5%
✗Ackman>= 5%
Show 5 more metrics ▾Show fewer ▴
Positive EPS Growth Frequency1/5 years with positive EPS growth
✗AckmanPositive EPS growth in >= 3 of last 5 years
P/E / EPS Growth Rate
✗Lynch< 1.0 (ideally < 0.5)
3-5 Year EPS CAGR
✗Lynch15-30% (Fast Grower); > 0% to pass
Inventory Growth vs Revenue GrowthN/A (no inventory)
✓LynchInventory growth < Revenue growth
EPS Growth (3-yr avg, 10-yr window)
✗Graham>= 33% growth
Efficiency
1 of 6 pass — Akre, Munger, Piotroski +2 more object
ROIC (high and growing)12/16 years ROIC > 15% (latest: -1.9%)
✓AkreROIC > 15% for 3+ years
Reinvestment Rate x ROICN/A (non-positive net income)
✗AkreReinvestment Rate * ROIC > 10%
Return on Invested Capital-1.9%
✗Munger> 15%
Current Ratio Change YoY1.08 -> 1.06
✗PiotroskiIncreased YoY
Show 5 more metrics ▾Show fewer ▴
Revenue / Total Assets Change YoY2.53x -> 3.09x
✓PiotroskiImproved YoY
EBIT / (NWC + Net Fixed Assets)N/A (invested capital <= 0)
✗Greenblatt> 25%
ROIC (3-5 yr avg)156.5%
✓Buffett> 10%
ROIC - WACC+146.5%
✓BuffettPositive (WACC = 10%)
Current Ratio1.06
✗Graham>= 2.0
Verdicts
Split decision: 4 FAIL · 3 HOLD · 3 PASS · 1 BUY
Overall verdict
•MarksHOLD (6/8)✓AkrePASS (4/7)•DruckenmillerHOLD (5/7)✓SpierBUY (7/8)•PabraiHOLD (6/8)✓MungerPASS (4/7)✗AckmanFAIL (1/9)✗PiotroskiFAIL (F-Score 1)•GreenblattNot ranked✗LynchFAIL (2/7)✓BuffettPASS (4/9)✗GrahamFAIL (3/9)
Valuation models
Models split on NSP at $52.20 — fair values range $0.83–$464.18
Marks fair value$42.80
✗Marks-22.0% margin vs $52.20
Akre fair value$3.59
✗Akre-1354.0% margin vs $52.20
Druckenmiller fair value$17.48
✗Druckenmiller-198.6% margin vs $52.20
Spier fair value$2.15
✗Spier-2327.9% margin vs $52.20
Show 5 more metrics ▾Show fewer ▴
Pabrai fair value$1.90
✗Pabrai-2647.4% margin vs $52.20
Munger fair value$464.18
✓Munger+88.8% margin vs $52.20
Piotroski fair value$0.83
✗Piotroski-6189.2% margin vs $52.20
Greenblatt fair value$15.47
✗Greenblatt-237.4% margin vs $52.20
Buffett fair value$1.49
✗Buffett-3403.4% margin vs $52.20

Historical Score Timeline

Industry Peers

Similar companies in Business Services

NSP vs Peers — Financial Grading

Revenue$6.8BMedian

Net Income$7.0MBottom 25%

ROE-15.2%Bottom 25%

D/E8.02Bottom 25%

Op. Margin-0.1%Bottom 25%

Curr. Ratio1.06Bottom 25%

Company	Market Cap	Price	Revenue	Net Income	ROE	D/E	Op. Margin	Curr. Ratio	Graham	Buffett	Lynch	Greenblatt	Piotroski
Uber Technologies, IncUBER	$155.1B	$75.95	$52.0B	$10.1B	37.2%	0.39	10.7%	1.14	1/9	4/9	3/7	0/3	F-Score 6
INTUIT INC.INTU	$94.6B	$345.66	$18.8B	$3.9B	19.6%	0.30	26.1%	1.36	2/9	7/9	5/7	1/3	F-Score 8
MOODYS CORP /DE/MCO	$84.0B	$484.96	$7.7B	$2.5B	60.7%	1.73	43.4%	1.74	2/9	6/9	4/7	1/3	F-Score 8
Nebius Group N.V.NBIS	$70.5B	$277.68	$529.8M	$82.5M	1.8%	0.90	-115.5%	3.08	2/9	2/9	1/7	0/3	F-Score 6
QUALYS, INC.QLYS	$6.6B	$186.05	$669.1M	$198.3M	35.3%	—	33.2%	1.41	2/9	3/9	5/7	0/3	F-Score 8
ACI WORLDWIDE, INC.ACIW	$5.4B	$53.44	$1.8B	$226.7M	14.9%	0.57	18.7%	1.54	1/9	1/9	3/7	1/3	F-Score 7
Flywire CorpFLYW	$2.3B	$18.81	$623.0M	$13.5M	1.6%	—	1.8%	1.50	1/9	2/9	2/7	0/3	F-Score 7
INNODATA INCINOD	$2.1B	$63.85	$251.7M	$32.2M	30.0%	—	15.8%	2.68	3/9	3/9	5/7	1/3	F-Score 6