Insight Enterprises Inc

NSIT

Retail-Catalog & Mail-Order Houses

Mkt Cap

$6.69B

PE

22.42

Debt

$881.6M

Cash

$381.1M

EV

$7.191B

FCF

$669.9M

Market Cap

$6.69B

P/E Ratio

22.42

Debt

$881.6M

Cash

$381.1M

EV

$7.191B

FCF

$669.9M

Charts data: {"Earnings":[{"time":"2014-12-30","value":75684000},{"time":"2015-12-30","value":75851000},{"time":"2016-12-30","value":84690000},{"time":"2017-12-30","value":90683000},{"time":"2018-12-30","value":163677000},{"time":"2019-12-30","value":159407000},{"time":"2020-12-30","value":172640000},{"time":"2021-12-30","value":219345000},{"time":"2022-12-30","value":280608000},{"time":"2023-12-30","value":281309000}],"Sales":[{"time":"2014-12-30","value":5316229000},{"time":"2015-12-30","value":5373090000},{"time":"2016-12-30","value":5485515000},{"time":"2017-12-30","value":6703623000},{"time":"2018-12-30","value":7080136000},{"time":"2019-12-30","value":7731190000},{"time":"2020-12-30","value":8340579000},{"time":"2021-12-30","value":9436113000},{"time":"2022-12-30","value":10431191000},{"time":"2023-12-30","value":9175840000}],"Net Margins":[{"time":"2014-12-30","value":0.014236407047175733},{"time":"2015-12-30","value":0.014116830352739298},{"time":"2016-12-30","value":0.015438842114186179},{"time":"2017-12-30","value":0.013527461195237261},{"time":"2018-12-30","value":0.023117776268704444},{"time":"2019-12-30","value":0.020618688714156553},{"time":"2020-12-30","value":0.020698802804937164},{"time":"2021-12-30","value":0.0232452705897015},{"time":"2022-12-30","value":0.02690085916363721},{"time":"2023-12-30","value":0.03065757467436224}],"Assets":[{"time":"2014-12-30","value":1948123000},{"time":"2015-12-30","value":2014017000},{"time":"2016-12-30","value":2219300000},{"time":"2017-12-30","value":2685651000},{"time":"2018-12-30","value":2775947000},{"time":"2019-12-30","value":4178179000},{"time":"2020-12-30","value":4310732000},{"time":"2021-12-30","value":4689080000},{"time":"2022-12-30","value":5112581000},{"time":"2023-12-30","value":6286350000}],"Stockholders Equity":[{"time":"2014-12-30","value":721231000},{"time":"2015-12-30","value":685742000},{"time":"2016-12-30","value":713443000},{"time":"2017-12-30","value":843469000},{"time":"2018-12-30","value":986989000},{"time":"2019-12-30","value":1160318000},{"time":"2020-12-30","value":1342429000},{"time":"2021-12-30","value":1509227000},{"time":"2022-12-30","value":1638068000},{"time":"2023-12-30","value":1735733000}],"ROE":[{"time":"2014-12-30","value":0.10493725311308028},{"time":"2015-12-30","value":0.11061157111566741},{"time":"2016-12-30","value":0.11870604939707867},{"time":"2017-12-30","value":0.1075119536106247},{"time":"2018-12-30","value":0.16583467495585058},{"time":"2019-12-30","value":0.1373821659234796},{"time":"2020-12-30","value":0.1286027045005732},{"time":"2021-12-30","value":0.14533598988091254},{"time":"2022-12-30","value":0.1713042437798675},{"time":"2023-12-30","value":0.16206928139293314}],"ROA":[{"time":"2014-12-30","value":0.06724575398986614},{"time":"2015-12-30","value":0.06281923141661665},{"time":"2016-12-30","value":0.06706258730230252},{"time":"2017-12-30","value":0.066749179249277},{"time":"2018-12-30","value":0.08410931476717676},{"time":"2019-12-30","value":0.057583459205553425},{"time":"2020-12-30","value":0.06299974111125442},{"time":"2021-12-30","value":0.07081581035085774},{"time":"2022-12-30","value":0.0809180333768795},{"time":"2023-12-30","value":0.06677881441536027}]}

Insight Enterprises, Inc., together with its subsidiaries, provides information technology (IT) hardware, software services and solutions in the United States and internationally. The company's solution portfolio includes cloud enablement, data and AI, digital strategy, intelligent applications and edge, and IoT solutions, as well as digital transformation services. It also offers cloud and data center platforms; modern workplace; and supply chain optimization solutions. In addition, the company provides software maintenance solutions that offers clients to obtain software upgrades, bug fixes, help desk, and other support services; vendor direct support services; and offers Software-as-a-Service subscription products. Further, it designs, procures, deploys, implements, and manages solutions that combine hardware, software, and services to help businesses. Additionally, the company sources, procures, stages, configures, integrates, tests, refurbishes, and redeploys IT products spanning endpoints to infrastructure; and offers software life cycle and hardware warranty services. It serves construction technology, enterprise business, financial services, health care and life sciences, manufacturing technology, retail, restaurant, service providers, small to medium business, and travel and tourism industries. Insight Enterprises, Inc., was founded in 1988 and is headquartered in Chandler, Arizona.

Sector

10-Q
9/30/23
10-Q
6/30/23
10-Q
3/31/23
10-K
12/31/22
10-Q
9/30/22
10-Q
6/30/22
10-Q
3/31/22
10-K
12/31/21
10-Q
9/30/21
10-Q
6/30/21
10-Q
3/31/21
10-K
12/31/20
10-Q
9/30/20
10-Q
6/30/20
10-Q
3/31/20
10-K
12/31/19
10-Q
9/30/19
10-Q
6/30/19
10-Q
3/31/19
10-K
12/31/18
10-Q
9/30/18
10-Q
6/30/18
10-Q
3/31/18
10-K
12/31/17

DCF

Discounted Cash Flow Valuation of Insight Enterprises Inc

Calculate

Growth Years

Growth

Start

End

Discount

Start

End

Multiple

g\r	+10%	+11%	+12%	+13%	+14%
0%	10	9	8	8	7
+1%	11	10	9	8	8
+2%	13	11	10	9	8
+3%	14	13	11	10	9
+4%	17	14	12	11	10

Years	0	1	2	3	4	5	6	7	8	9	10	TV
FCF	$669.9M	$824M	$996.9M	$1.186B	$1.388B	$1.596B	$1.803B	$2.002B	$2.182B	$2.335B	$2.451B	$24.51B
DCF		$716.5M	$753.8M	$780M	$793.5M	$793.5M	$779.7M	$752.5M	$713.3M	$663.6M	$605.9M	$6.059B
Value	$13.41B

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth 19%

Earnings Stability 96%

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

The Net Margin is too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Over time the ROA has been decreasing indicating a lower marginal ROA with respect to the calculated one, this could impede growth.

Years	12-2015	12-2016	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Net Margin	1.4%	1.5%	1.4%	2.3%	2.1%	2.1%	2.3%	2.7%	3.1%	3.2%
ROA	6.3%	6.7%	6.7%	8.4%	5.8%	6.3%	7.1%	8.1%	6.7%	6.7%
ROE	11%	12%	11%	17%	14%	13%	15%	17%	16%	17%

What is the average Net Margin?

The average Net Margin over the past 5 years is +2.42%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +0.17%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +7.05%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -0.03%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +15.18%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is +0.28%.

Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Under the assumption that FCF does not diminish and debt does not increase, the current years to repay the debt are acceptable.

The Graham’s stability indicate reliability of earnings, and consideration about the future are more dependable.

Years	12-2015	12-2016	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Debt FCF	0.54	0.49	-0.96	0.72	14.62	1.32	3.24	23.48	1.62	1.32
Debt Equity	0.13	0.06	0.37	0.20	0.74	0.33	0.24	0.39	0.54	0.50
MIN
Graham Stability	-	-	100%	100%	100%	100%	100%	100%	100%	100%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 1.32.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is 0.94.

What is the Graham’s Stability?

Graham’s Stability measure stands at 1.00.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Earnings growth has been increasing in past years.

Years	12-2016	12-2018	12-2020	12-2022	Trend
Revenue	7.6%	5.3%	3.2%	-12%	-0.72%
Net Income	19%	11%	18%	0.25%	0.28%
Stockholders Equity	14%	12%	8.9%	6%	0.74%
FCF	32%	16%	21%	2K%	130%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +5.32%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -0.72%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +11.44%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is +0.28%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +11.95%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +0.74%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +16.07%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is +133.06%.