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Side-by-side financial comparison of Baxter International (BAX) and INSPERITY, INC. (NSP). Click either name above to swap in a different company.
Baxter International is the larger business by last-quarter revenue ($3.0B vs $1.7B, roughly 1.8× INSPERITY, INC.). On growth, Baxter International posted the faster year-over-year revenue change (458.0% vs 3.4%). Over the past eight quarters, INSPERITY, INC.'s revenue compounded faster (-3.8% CAGR vs -9.0%).
Baxter International Inc. is an American multinational healthcare company with headquarters in Deerfield, Illinois.
Insperity, Inc., previously known as Administaff, Inc., is a professional employer organization (PEO) headquartered in Kingwood, an area of Houston, Texas, USA. Insperity provides human resources and administrative services to small and medium-sized businesses. Since 2004, the company has been title sponsor of a professional golf tournament on the Champions Tour, previously known as the Administaff Small Business Classic.
BAX vs NSP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.0B | $1.7B |
| Net Profit | $-1.1B | — |
| Gross Margin | 19.4% | 10.3% |
| Operating Margin | -24.5% | -2.8% |
| Net Margin | -37.9% | — |
| Revenue YoY | 458.0% | 3.4% |
| Net Profit YoY | -120.3% | — |
| EPS (diluted) | $-2.21 | $-0.87 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $3.0B | $1.7B | ||
| Q3 25 | $2.8B | $1.6B | ||
| Q2 25 | $2.8B | $1.7B | ||
| Q1 25 | $2.6B | $1.9B | ||
| Q4 24 | $533.0M | $1.6B | ||
| Q3 24 | $2.7B | $1.6B | ||
| Q2 24 | $3.8B | $1.6B | ||
| Q1 24 | $3.6B | $1.8B |
| Q4 25 | $-1.1B | — | ||
| Q3 25 | $-46.0M | $-20.0M | ||
| Q2 25 | $91.0M | $-5.0M | ||
| Q1 25 | $126.0M | $51.0M | ||
| Q4 24 | $-512.0M | — | ||
| Q3 24 | $140.0M | $3.0M | ||
| Q2 24 | $-314.0M | $18.0M | ||
| Q1 24 | $37.0M | $79.0M |
| Q4 25 | 19.4% | 10.3% | ||
| Q3 25 | 33.5% | 12.0% | ||
| Q2 25 | 35.3% | 13.4% | ||
| Q1 25 | 32.8% | 16.6% | ||
| Q4 24 | 25.0% | 13.5% | ||
| Q3 24 | 38.3% | 14.7% | ||
| Q2 24 | 37.5% | 16.2% | ||
| Q1 24 | 38.6% | 19.1% |
| Q4 25 | -24.5% | -2.8% | ||
| Q3 25 | 6.1% | -1.5% | ||
| Q2 25 | 6.8% | -0.4% | ||
| Q1 25 | 2.2% | 3.7% | ||
| Q4 24 | -25.5% | -0.9% | ||
| Q3 24 | 5.7% | 0.1% | ||
| Q2 24 | -5.0% | 1.4% | ||
| Q1 24 | 5.2% | 6.0% |
| Q4 25 | -37.9% | — | ||
| Q3 25 | -1.6% | -1.2% | ||
| Q2 25 | 3.2% | -0.3% | ||
| Q1 25 | 4.8% | 2.7% | ||
| Q4 24 | -96.1% | — | ||
| Q3 24 | 5.2% | 0.2% | ||
| Q2 24 | -8.2% | 1.1% | ||
| Q1 24 | 1.0% | 4.4% |
| Q4 25 | $-2.21 | $-0.87 | ||
| Q3 25 | $-0.09 | $-0.53 | ||
| Q2 25 | $0.18 | $-0.14 | ||
| Q1 25 | $0.25 | $1.35 | ||
| Q4 24 | $-0.99 | $-0.21 | ||
| Q3 24 | $0.27 | $0.07 | ||
| Q2 24 | $-0.62 | $0.48 | ||
| Q1 24 | $0.07 | $2.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.0B | $682.0M |
| Total DebtLower is stronger | $9.5B | — |
| Stockholders' EquityBook value | $6.1B | $46.0M |
| Total Assets | $20.1B | $2.2B |
| Debt / EquityLower = less leverage | 1.55× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $682.0M | ||
| Q3 25 | $1.7B | $521.0M | ||
| Q2 25 | $1.7B | $511.0M | ||
| Q1 25 | $2.3B | $684.0M | ||
| Q4 24 | $1.8B | $1.2B | ||
| Q3 24 | $1.4B | $596.0M | ||
| Q2 24 | $2.1B | $850.0M | ||
| Q1 24 | $3.0B | $801.0M |
| Q4 25 | $9.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $10.4B | — | ||
| Q3 24 | $10.4B | — | ||
| Q2 24 | $10.4B | — | ||
| Q1 24 | $11.1B | — |
| Q4 25 | $6.1B | $46.0M | ||
| Q3 25 | $7.2B | $87.0M | ||
| Q2 25 | $7.3B | $112.0M | ||
| Q1 25 | $7.1B | $119.0M | ||
| Q4 24 | $7.0B | $97.0M | ||
| Q3 24 | $7.9B | $125.0M | ||
| Q2 24 | $7.6B | $142.0M | ||
| Q1 24 | $8.2B | $140.0M |
| Q4 25 | $20.1B | $2.2B | ||
| Q3 25 | $21.1B | $2.0B | ||
| Q2 25 | $21.0B | $2.0B | ||
| Q1 25 | $21.3B | $2.1B | ||
| Q4 24 | $25.8B | $2.6B | ||
| Q3 24 | $26.7B | $1.9B | ||
| Q2 24 | $26.3B | $2.1B | ||
| Q1 24 | $27.8B | $2.1B |
| Q4 25 | 1.55× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.37× | — | ||
| Q1 24 | 1.36× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $584.0M | $255.0M |
| Free Cash FlowOCF − Capex | — | $246.0M |
| FCF MarginFCF / Revenue | — | 14.7% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-309.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $584.0M | $255.0M | ||
| Q3 25 | $237.0M | $-11.0M | ||
| Q2 25 | $217.0M | $-79.0M | ||
| Q1 25 | $-193.0M | $-443.0M | ||
| Q4 24 | $488.0M | $619.0M | ||
| Q3 24 | $253.0M | $-150.0M | ||
| Q2 24 | $115.0M | $20.0M | ||
| Q1 24 | $163.0M | $31.0M |
| Q4 25 | — | $246.0M | ||
| Q3 25 | — | $-20.0M | ||
| Q2 25 | — | $-86.0M | ||
| Q1 25 | — | $-449.0M | ||
| Q4 24 | — | $606.0M | ||
| Q3 24 | — | $-164.0M | ||
| Q2 24 | — | $14.0M | ||
| Q1 24 | — | $26.0M |
| Q4 25 | — | 14.7% | ||
| Q3 25 | — | -1.2% | ||
| Q2 25 | — | -5.2% | ||
| Q1 25 | — | -24.1% | ||
| Q4 24 | — | 37.6% | ||
| Q3 24 | — | -10.5% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.38× | — | ||
| Q1 25 | -1.53× | -8.69× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.81× | -50.00× | ||
| Q2 24 | — | 1.11× | ||
| Q1 24 | 4.41× | 0.39× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAX
| Other | $1.5B | 51% |
| Infusion Therapies And Technologies | $543.0M | 18% |
| Pharmaceutical Compounding | $316.0M | 11% |
| Front Line Care | $219.0M | 7% |
| Injectables And Anesthesia | $190.0M | 6% |
| Advanced Surgery | $177.0M | 6% |
NSP
| Northeast | $455.0M | 27% |
| West | $339.0M | 20% |
| Southwest | $317.0M | 19% |
| Central | $299.0M | 18% |
| Southeast | $241.0M | 14% |
| Other Revenues | $17.0M | 1% |
