Insperity, Inc.
NSP
Services-Help Supply Services
Mkt Cap
$3.656BPE
23.47Debt
$369MCash
$978MEV
$3.047BFCF
$151.9MP/E Ratio
23.47Debt
$369MCash
$978MEV
$3.047BFCF
$151.9MCharts data: {"Earnings":[{"time":"2014-12-30","value":28004000},{"time":"2015-12-30","value":39390000},{"time":"2016-12-30","value":65991000},{"time":"2017-12-30","value":82885000},{"time":"2018-12-30","value":133538000},{"time":"2019-12-30","value":149340000},{"time":"2020-12-30","value":137455000},{"time":"2021-12-30","value":123870000},{"time":"2022-12-30","value":179350000},{"time":"2023-12-30","value":171382000}],"Sales":[{"time":"2014-12-30","value":2357788000},{"time":"2015-12-30","value":2603614000},{"time":"2016-12-30","value":2941347000},{"time":"2017-12-30","value":3300223000},{"time":"2018-12-30","value":3828549000},{"time":"2019-12-30","value":4314804000},{"time":"2020-12-30","value":4287004000},{"time":"2021-12-30","value":4973070000},{"time":"2022-12-30","value":5938818000},{"time":"2023-12-30","value":6485871000}],"Net Margins":[{"time":"2014-12-30","value":0.011877234085507263},{"time":"2015-12-30","value":0.015128970730684348},{"time":"2016-12-30","value":0.022435639181640248},{"time":"2017-12-30","value":0.02511496950357597},{"time":"2018-12-30","value":0.034879532689799715},{"time":"2019-12-30","value":0.03461107387496628},{"time":"2020-12-30","value":0.032063184452358805},{"time":"2021-12-30","value":0.024908155324578178},{"time":"2022-12-30","value":0.030199612111366268},{"time":"2023-12-30","value":0.02642389896437965}],"Assets":[{"time":"2014-12-30","value":796670000},{"time":"2015-12-30","value":784912000},{"time":"2016-12-30","value":907174000},{"time":"2017-12-30","value":1063695000},{"time":"2018-12-30","value":1191816000},{"time":"2019-12-30","value":1394996000},{"time":"2020-12-30","value":1584276000},{"time":"2021-12-30","value":1753085000},{"time":"2022-12-30","value":2039261000},{"time":"2023-12-30","value":2119659000}],"Stockholders Equity":[{"time":"2014-12-30","value":204096000},{"time":"2015-12-30","value":172455000},{"time":"2016-12-30","value":60525000},{"time":"2017-12-30","value":66321000},{"time":"2018-12-30","value":77676000},{"time":"2019-12-30","value":4079000},{"time":"2020-12-30","value":44132000},{"time":"2021-12-30","value":-1774000},{"time":"2022-12-30","value":81275000},{"time":"2023-12-30","value":93624000}],"ROE":[{"time":"2014-12-30","value":0.1372099404201944},{"time":"2015-12-30","value":0.2284074106288597},{"time":"2016-12-30","value":1.0903097893432465},{"time":"2017-12-30","value":1.2497549795690657},{"time":"2018-12-30","value":1.7191667954065606},{"time":"2019-12-30","value":36.61191468497181},{"time":"2020-12-30","value":3.114633372609444},{"time":"2021-12-30","value":-69.82525366403608},{"time":"2022-12-30","value":2.206705629037219},{"time":"2023-12-30","value":1.830534905579766}],"ROA":[{"time":"2014-12-30","value":0.060247028255111905},{"time":"2015-12-30","value":0.08418523350388324},{"time":"2016-12-30","value":0.11858033850176482},{"time":"2017-12-30","value":0.12536864420722105},{"time":"2018-12-30","value":0.15692690818045738},{"time":"2019-12-30","value":0.14142692882273497},{"time":"2020-12-30","value":0.12452754444301371},{"time":"2021-12-30","value":0.10026667275117863},{"time":"2022-12-30","value":0.12271062899746525},{"time":"2023-12-30","value":0.10618594783406199}]}
Insperity, Inc. engages in the provision of human resources (HR) and business solutions to improve business performance for small and medium-sized businesses. It offers its HR services through its Workforce Optimization and Workforce Synchronization solutions that include a range of human resources functions, such as payroll and employment administration, employee benefits, workers' compensation, government compliance, performance management, and training and development services. The company also provides Insperity Premier, a cloud-based human capital management platform that offers professional employer organization HR outsourcing solutions to its clients; people management services; and employer liability management services, as well as solutions for middle market. In addition, it offers MarketPlace, an e-commerce portal that offers a range of products and services; and Workforce Acceleration, a human capital management and payroll services solution; time and attendance; performance management; recruiting; employment screening; retirement; and insurance services. The company was formerly known as Administaff, Inc. and changed its name to Insperity, Inc. in March 2011. Insperity, Inc. was founded in 1986 and is headquartered in Kingwood, Texas.
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DCF
Discounted Cash Flow Valuation of Insperity, Inc.
Value
Growth
%
%
Discount
%
%
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 | $151.9M | $174M | $197.6M | $222.2M | $247.5M | $273.1M | $298.4M | $322.9M | $345.9M | $366.9M | $385.2M | $3.852B |
| DCF | $151.3M | $149.4M | $146.1M | $141.5M | $135.8M | $129M | $121.4M | $113.1M | $104.3M | $95.22M | $952.2M | |
| Value | $2.239B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth 17%
Earnings Stability 76%
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.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 1.5% | 2.2% | 2.5% | 3.5% | 3.5% | 3.2% | 2.5% | 3% | 2.6% | 2.4% |
| ROA | 8.4% | 12% | 13% | 16% | 14% | 12% | 10% | 12% | 11% | 10% |
| ROE | 23% | 110% | 120% | 170% | 3.7K% | 310% | -7K% | 220% | 180% | 110% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +3.05%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is -0.18%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +12.53%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is -0.95%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is -405.7%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is -501.71%.
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.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 0.00 | 1.06 | 0.61 | 0.97 | 1.81 | 1.49 | 1.63 | 1.16 | 2.33 | 2.43 |
| Debt Equity | 0.00 | 1.72 | 1.57 | 1.86 | 66.05 | 8.37 | -208.23 | 4.55 | 3.95 | 2.64 |
| MIN | ||||||||||
| Graham Stability | - | - | 100% | 100% | 100% | 100% | 88% | 100% | 100% | 88% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 2.43.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is 0.14.
What is the Graham’s Stability?
Graham’s Stability measure stands at 0.88.
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.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 12% | 11% | 15% | 9.2% | 0.091% |
| Net Income | 15% | 5.1% | 7.6% | -4.4% | -6.5% |
| Stockholders Equity | 6.4% | 3.8% | 28% | 15% | 43% |
| FCF | 7% | 1.2% | -14% | -50% | -4.1% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +11.12%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is +0.09%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +5.12%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -6.48%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is +3.81%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is +43.04%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is +1.21%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -4.11%.