INSPERITY, INC.
$50.48
+0.64 (+1.28%) · delayed · Nov 13, 2026
Five-year price
52w $18.57 to $55.90
- Market cap
- $1.9B
- Enterprise value
- $1.7B
- P/E
- —
- 22.6× on 3y avg EPS
- EV / EBIT
- —
- FCF yield
- −16.1%
- ROIC
- —
- Debt / equity
- 8.02
- Piotroski F
- 2/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
100
- –ROIC > 12% (5y avg)5y avg ROIC n/a
- ●ROE > 15% (5y avg)5y avg ROE 120.4%
- ●Stable operating marginsMargin volatility 1.6% (σ, 5y)
- ●Earnings convert to cashFCF / net income 246% (5y avg)
- ●Growing revenueRevenue CAGR 5y 9.7%
- ●Shrinking share countDiluted shares -1.3% over 5y
Value
n/a
- –P/E below 15P/E n/a
- –EV/EBIT below 12EV/EBIT n/a
- ○FCF yield above 6%FCF yield -16.1%
- –Price below Graham NumberGraham Number n/a
- ○P/B below 3P/B 41.8
Safety
0
- ○Debt / equity below 0.5D/E 8.02
- ○Debt payable in < 4 yrs of earningsNet debt $-0.3B
- ○Interest coverage > 8xCoverage -0.4x
- ○Current ratio > 1.5Current ratio 1.06
- ○Piotroski F-score ≥ 6F-score 2/9
Graham Defensive
29
- ●Adequate size (revenue > $2B)Revenue $6.8B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.06
- ○Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -1%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 22.6
- ○P/E × P/B ≤ 22.5Product 944.9
Valuation lab
What do you have to believe?
Starting cash flow
Net debt −$273M · 38M shares · 5y revenue CAGR 9.7%
Intrinsic value
$87.67
Price
$50.48
Margin of safety
42%
What the price implies
The market is paying for 1.8% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
62% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,941 | 3,300 | 3,829 | 4,315 | 4,287 | 4,973 | 5,939 | 6,486 | 6,581 | 6,812 |
| Gross profit | 492 | 573 | 682 | 733 | 807 | 820 | 1,011 | 1,037 | 1,052 | 900 |
| Operating income | 106 | 130 | 179 | 187 | 195 | 173 | 250 | 219 | 117 | (10) |
| Operating margin | 3.6% | 3.9% | 4.7% | 4.3% | 4.5% | 3.5% | 4.2% | 3.4% | 1.8% | -0.1% |
| Pre-tax income | 105 | 130 | 182 | 190 | 189 | 168 | 245 | 225 | 126 | (4) |
| Income tax | 39 | 46 | 47 | 39 | 51 | 44 | 66 | 54 | 35 | 3 |
| Net income | 66 | 84 | 135 | 151 | 138 | 124 | 179 | 171 | 91 | (7) |
| EPS (diluted) | 1.54 | 2.01 | 3.22 | 3.70 | 3.54 | 3.18 | 4.64 | 4.47 | 2.42 | -0.19 |
| Diluted shares | 42 | 41 | 41 | 40 | 39 | 39 | 39 | 38 | 38 | 38 |
Who owns it