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Side-by-side financial comparison of Garmin (GRMN) and INSPERITY, INC. (NSP). Click either name above to swap in a different company.
Garmin is the larger business by last-quarter revenue ($2.1B vs $1.7B, roughly 1.3× INSPERITY, INC.). On growth, Garmin posted the faster year-over-year revenue change (16.6% vs 3.4%). Garmin produced more free cash flow last quarter ($429.6M vs $246.0M). Over the past eight quarters, Garmin's revenue compounded faster (24.0% CAGR vs -3.8%).
Garmin Ltd. is an American multinational technology company based in Olathe, Kansas. The company designs, develops, manufactures, markets, and distributes GPS-enabled products and other navigation, communication, sensor-based, and information products to the automotive, aviation, marine, outdoors, and sport markets.
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.
GRMN vs NSP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.7B |
| Net Profit | $528.7M | — |
| Gross Margin | 59.2% | 10.3% |
| Operating Margin | 28.9% | -2.8% |
| Net Margin | 24.9% | — |
| Revenue YoY | 16.6% | 3.4% |
| Net Profit YoY | 21.3% | — |
| EPS (diluted) | $2.72 | $-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 | $2.1B | $1.7B | ||
| Q3 25 | $1.8B | $1.6B | ||
| Q2 25 | $1.8B | $1.7B | ||
| Q1 25 | $1.5B | $1.9B | ||
| Q4 24 | $1.8B | $1.6B | ||
| Q3 24 | $1.6B | $1.6B | ||
| Q2 24 | $1.5B | $1.6B | ||
| Q1 24 | $1.4B | $1.8B |
| Q4 25 | $528.7M | — | ||
| Q3 25 | $401.6M | $-20.0M | ||
| Q2 25 | $400.8M | $-5.0M | ||
| Q1 25 | $332.8M | $51.0M | ||
| Q4 24 | $435.7M | — | ||
| Q3 24 | $399.1M | $3.0M | ||
| Q2 24 | $300.6M | $18.0M | ||
| Q1 24 | $276.0M | $79.0M |
| Q4 25 | 59.2% | 10.3% | ||
| Q3 25 | 59.1% | 12.0% | ||
| Q2 25 | 58.8% | 13.4% | ||
| Q1 25 | 57.6% | 16.6% | ||
| Q4 24 | 59.3% | 13.5% | ||
| Q3 24 | 60.0% | 14.7% | ||
| Q2 24 | 57.3% | 16.2% | ||
| Q1 24 | 58.1% | 19.1% |
| Q4 25 | 28.9% | -2.8% | ||
| Q3 25 | 25.8% | -1.5% | ||
| Q2 25 | 26.0% | -0.4% | ||
| Q1 25 | 21.7% | 3.7% | ||
| Q4 24 | 28.3% | -0.9% | ||
| Q3 24 | 27.6% | 0.1% | ||
| Q2 24 | 22.7% | 1.4% | ||
| Q1 24 | 21.6% | 6.0% |
| Q4 25 | 24.9% | — | ||
| Q3 25 | 22.7% | -1.2% | ||
| Q2 25 | 22.1% | -0.3% | ||
| Q1 25 | 21.7% | 2.7% | ||
| Q4 24 | 23.9% | — | ||
| Q3 24 | 25.2% | 0.2% | ||
| Q2 24 | 20.0% | 1.1% | ||
| Q1 24 | 20.0% | 4.4% |
| Q4 25 | $2.72 | $-0.87 | ||
| Q3 25 | $2.08 | $-0.53 | ||
| Q2 25 | $2.07 | $-0.14 | ||
| Q1 25 | $1.72 | $1.35 | ||
| Q4 24 | $2.24 | $-0.21 | ||
| Q3 24 | $2.07 | $0.07 | ||
| Q2 24 | $1.56 | $0.48 | ||
| Q1 24 | $1.43 | $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 | $2.3B | $682.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $9.0B | $46.0M |
| Total Assets | $11.0B | $2.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3B | $682.0M | ||
| Q3 25 | $2.1B | $521.0M | ||
| Q2 25 | $2.1B | $511.0M | ||
| Q1 25 | $2.2B | $684.0M | ||
| Q4 24 | $2.1B | $1.2B | ||
| Q3 24 | $2.0B | $596.0M | ||
| Q2 24 | $1.9B | $850.0M | ||
| Q1 24 | $1.9B | $801.0M |
| Q4 25 | $9.0B | $46.0M | ||
| Q3 25 | $8.5B | $87.0M | ||
| Q2 25 | $8.1B | $112.0M | ||
| Q1 25 | $8.2B | $119.0M | ||
| Q4 24 | $7.8B | $97.0M | ||
| Q3 24 | $7.5B | $125.0M | ||
| Q2 24 | $7.0B | $142.0M | ||
| Q1 24 | $7.2B | $140.0M |
| Q4 25 | $11.0B | $2.2B | ||
| Q3 25 | $10.5B | $2.0B | ||
| Q2 25 | $10.3B | $2.0B | ||
| Q1 25 | $9.8B | $2.1B | ||
| Q4 24 | $9.6B | $2.6B | ||
| Q3 24 | $9.3B | $1.9B | ||
| Q2 24 | $8.9B | $2.1B | ||
| Q1 24 | $8.6B | $2.1B |
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 | $553.8M | $255.0M |
| Free Cash FlowOCF − Capex | $429.6M | $246.0M |
| FCF MarginFCF / Revenue | 20.2% | 14.7% |
| Capex IntensityCapex / Revenue | 5.8% | 0.5% |
| Cash ConversionOCF / Net Profit | 1.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.4B | $-309.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $553.8M | $255.0M | ||
| Q3 25 | $485.6M | $-11.0M | ||
| Q2 25 | $173.2M | $-79.0M | ||
| Q1 25 | $420.8M | $-443.0M | ||
| Q4 24 | $483.9M | $619.0M | ||
| Q3 24 | $258.0M | $-150.0M | ||
| Q2 24 | $255.3M | $20.0M | ||
| Q1 24 | $435.3M | $31.0M |
| Q4 25 | $429.6M | $246.0M | ||
| Q3 25 | $425.1M | $-20.0M | ||
| Q2 25 | $127.5M | $-86.0M | ||
| Q1 25 | $380.7M | $-449.0M | ||
| Q4 24 | $399.2M | $606.0M | ||
| Q3 24 | $219.4M | $-164.0M | ||
| Q2 24 | $218.2M | $14.0M | ||
| Q1 24 | $402.1M | $26.0M |
| Q4 25 | 20.2% | 14.7% | ||
| Q3 25 | 24.0% | -1.2% | ||
| Q2 25 | 7.0% | -5.2% | ||
| Q1 25 | 24.8% | -24.1% | ||
| Q4 24 | 21.9% | 37.6% | ||
| Q3 24 | 13.8% | -10.5% | ||
| Q2 24 | 14.5% | 0.9% | ||
| Q1 24 | 29.1% | 1.4% |
| Q4 25 | 5.8% | 0.5% | ||
| Q3 25 | 3.4% | 0.6% | ||
| Q2 25 | 2.5% | 0.4% | ||
| Q1 25 | 2.6% | 0.3% | ||
| Q4 24 | 4.6% | 0.8% | ||
| Q3 24 | 2.4% | 0.9% | ||
| Q2 24 | 2.5% | 0.4% | ||
| Q1 24 | 2.4% | 0.3% |
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 1.26× | -8.69× | ||
| Q4 24 | 1.11× | — | ||
| Q3 24 | 0.65× | -50.00× | ||
| Q2 24 | 0.85× | 1.11× | ||
| Q1 24 | 1.58× | 0.39× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRMN
| Fitness Segment | $765.8M | 36% |
| Outdoor Segment | $627.6M | 30% |
| Marine Segment | $296.9M | 14% |
| Aviation Segment | $274.2M | 13% |
| Auto Oem Segment | $160.4M | 8% |
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% |
