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AMN HEALTHCARE SERVICES INC（AMN）与INSPERITY, INC.（NSP）财务数据对比。点击上方公司名可切换其他公司
INSPERITY, INC.的季度营收约是AMN HEALTHCARE SERVICES INC的2.2倍（$1.7B vs $748.2M）。INSPERITY, INC.同比增速更快（3.4% vs 1.8%）。INSPERITY, INC.自由现金流更多（$246.0M vs $67.6M）。过去两年INSPERITY, INC.的营收复合增速更高（-3.8% vs -4.5%）
AMN医疗保健服务公司是美国领先的医疗人力资源解决方案提供商，主要为医院、诊所等各类医疗机构提供护士、医师、医技人员及其他临床、非临床岗位的临时与长期派遣服务，同时提供医护团队管理技术支持及相关咨询服务。
Insperity（前身为Administaff）是总部位于美国得克萨斯州休斯顿金伍德区的专业雇主组织（PEO），专注为中小微企业提供人力资源及行政事务外包等相关服务。自2004年起，该企业长期担任冠军巡回赛职业高尔夫赛事的冠名赞助商。
AMN vs NSP — 直观对比
营收规模更大
NSP
是对方的2.2倍
$748.2M
营收增速更快
NSP
高出1.6%
1.8%
自由现金流更多
NSP
多$178.4M
$67.6M
两年增速更快
NSP
近两年复合增速
-4.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $748.2M | $1.7B |
| 净利润 | $-7.7M | — |
| 毛利率 | 26.1% | 10.3% |
| 营业利润率 | 1.1% | -2.8% |
| 净利率 | -1.0% | — |
| 营收同比 | 1.8% | 3.4% |
| 净利润同比 | 95.9% | — |
| 每股收益（稀释后） | $-0.19 | $-0.87 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AMNNSP
| Q4 25 | $748.2M | $1.7B | ||
| Q3 25 | $634.5M | $1.6B | ||
| Q2 25 | $658.2M | $1.7B | ||
| Q1 25 | $689.5M | $1.9B | ||
| Q4 24 | $734.7M | $1.6B | ||
| Q3 24 | $687.5M | $1.6B | ||
| Q2 24 | $740.7M | $1.6B | ||
| Q1 24 | $820.9M | $1.8B |
净利润AMNNSP
| Q4 25 | $-7.7M | — | ||
| Q3 25 | $29.3M | $-20.0M | ||
| Q2 25 | $-116.2M | $-5.0M | ||
| Q1 25 | $-1.1M | $51.0M | ||
| Q4 24 | $-187.5M | — | ||
| Q3 24 | $7.0M | $3.0M | ||
| Q2 24 | $16.2M | $18.0M | ||
| Q1 24 | $17.3M | $79.0M |
毛利率AMNNSP
| Q4 25 | 26.1% | 10.3% | ||
| Q3 25 | 29.1% | 12.0% | ||
| Q2 25 | 29.8% | 13.4% | ||
| Q1 25 | 28.7% | 16.6% | ||
| Q4 24 | 29.8% | 13.5% | ||
| Q3 24 | 31.0% | 14.7% | ||
| Q2 24 | 31.0% | 16.2% | ||
| Q1 24 | 31.4% | 19.1% |
营业利润率AMNNSP
| Q4 25 | 1.1% | -2.8% | ||
| Q3 25 | 7.5% | -1.5% | ||
| Q2 25 | -18.8% | -0.4% | ||
| Q1 25 | 1.8% | 3.7% | ||
| Q4 24 | -27.6% | -0.9% | ||
| Q3 24 | 3.2% | 0.1% | ||
| Q2 24 | 5.1% | 1.4% | ||
| Q1 24 | 4.9% | 6.0% |
净利率AMNNSP
| Q4 25 | -1.0% | — | ||
| Q3 25 | 4.6% | -1.2% | ||
| Q2 25 | -17.7% | -0.3% | ||
| Q1 25 | -0.2% | 2.7% | ||
| Q4 24 | -25.5% | — | ||
| Q3 24 | 1.0% | 0.2% | ||
| Q2 24 | 2.2% | 1.1% | ||
| Q1 24 | 2.1% | 4.4% |
每股收益（稀释后）AMNNSP
| Q4 25 | $-0.19 | $-0.87 | ||
| Q3 25 | $0.76 | $-0.53 | ||
| Q2 25 | $-3.02 | $-0.14 | ||
| Q1 25 | $-0.03 | $1.35 | ||
| Q4 24 | $-4.90 | $-0.21 | ||
| Q3 24 | $0.18 | $0.07 | ||
| Q2 24 | $0.42 | $0.48 | ||
| Q1 24 | $0.45 | $2.08 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $34.0M | $682.0M |
| 总债务越低越好 | $767.1M | — |
| 股东权益账面价值 | $642.1M | $46.0M |
| 总资产 | $2.1B | $2.2B |
| 负债/权益比越低杠杆越低 | 1.19× | — |
8季度趋势，按日历期对齐
现金及短期投资AMNNSP
| Q4 25 | $34.0M | $682.0M | ||
| Q3 25 | $52.6M | $521.0M | ||
| Q2 25 | $41.5M | $511.0M | ||
| Q1 25 | $55.8M | $684.0M | ||
| Q4 24 | $10.6M | $1.2B | ||
| Q3 24 | $30.6M | $596.0M | ||
| Q2 24 | $48.0M | $850.0M | ||
| Q1 24 | $50.6M | $801.0M |
总债务AMNNSP
| Q4 25 | $767.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AMNNSP
| Q4 25 | $642.1M | $46.0M | ||
| Q3 25 | $644.4M | $87.0M | ||
| Q2 25 | $607.6M | $112.0M | ||
| Q1 25 | $715.1M | $119.0M | ||
| Q4 24 | $706.6M | $97.0M | ||
| Q3 24 | $890.7M | $125.0M | ||
| Q2 24 | $876.9M | $142.0M | ||
| Q1 24 | $854.2M | $140.0M |
总资产AMNNSP
| Q4 25 | $2.1B | $2.2B | ||
| Q3 25 | $2.1B | $2.0B | ||
| Q2 25 | $2.2B | $2.0B | ||
| Q1 25 | $2.4B | $2.1B | ||
| Q4 24 | $2.4B | $2.6B | ||
| Q3 24 | $2.7B | $1.9B | ||
| Q2 24 | $2.8B | $2.1B | ||
| Q1 24 | $2.9B | $2.1B |
负债/权益比AMNNSP
| Q4 25 | 1.19× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $75.6M | $255.0M |
| 自由现金流经营现金流 - 资本支出 | $67.6M | $246.0M |
| 自由现金流率自由现金流/营收 | 9.0% | 14.7% |
| 资本支出强度资本支出/营收 | 1.1% | 0.5% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $233.8M | $-309.0M |
8季度趋势，按日历期对齐
经营现金流AMNNSP
| Q4 25 | $75.6M | $255.0M | ||
| Q3 25 | $22.7M | $-11.0M | ||
| Q2 25 | $78.5M | $-79.0M | ||
| Q1 25 | $92.7M | $-443.0M | ||
| Q4 24 | $72.8M | $619.0M | ||
| Q3 24 | $66.7M | $-150.0M | ||
| Q2 24 | $99.5M | $20.0M | ||
| Q1 24 | $81.4M | $31.0M |
自由现金流AMNNSP
| Q4 25 | $67.6M | $246.0M | ||
| Q3 25 | $14.8M | $-20.0M | ||
| Q2 25 | $68.7M | $-86.0M | ||
| Q1 25 | $82.7M | $-449.0M | ||
| Q4 24 | $56.6M | $606.0M | ||
| Q3 24 | $47.4M | $-164.0M | ||
| Q2 24 | $72.2M | $14.0M | ||
| Q1 24 | $63.2M | $26.0M |
自由现金流率AMNNSP
| Q4 25 | 9.0% | 14.7% | ||
| Q3 25 | 2.3% | -1.2% | ||
| Q2 25 | 10.4% | -5.2% | ||
| Q1 25 | 12.0% | -24.1% | ||
| Q4 24 | 7.7% | 37.6% | ||
| Q3 24 | 6.9% | -10.5% | ||
| Q2 24 | 9.8% | 0.9% | ||
| Q1 24 | 7.7% | 1.4% |
资本支出强度AMNNSP
| Q4 25 | 1.1% | 0.5% | ||
| Q3 25 | 1.2% | 0.6% | ||
| Q2 25 | 1.5% | 0.4% | ||
| Q1 25 | 1.4% | 0.3% | ||
| Q4 24 | 2.2% | 0.8% | ||
| Q3 24 | 2.8% | 0.9% | ||
| Q2 24 | 3.7% | 0.4% | ||
| Q1 24 | 2.2% | 0.3% |
现金转化率AMNNSP
| Q4 25 | — | — | ||
| Q3 25 | 0.77× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -8.69× | ||
| Q4 24 | — | — | ||
| Q3 24 | 9.54× | -50.00× | ||
| Q2 24 | 6.13× | 1.11× | ||
| Q1 24 | 4.70× | 0.39× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AMN
| Travel Nurse Staffing | $208.3M | 28% |
| Allied Staffing | $146.9M | 20% |
| Labor Disruption Services | $124.3M | 17% |
| Technology And Workforce Solutions | $88.0M | 12% |
| Language Services | $69.9M | 9% |
| Other | $29.6M | 4% |
| International Nurse Staffing | $29.6M | 4% |
| Interim Leadership Staffing | $24.1M | 3% |
| Vendor Management Systems | $16.3M | 2% |
| Local Staffing | $8.6M | 1% |
| International Nurse Permanent Placement | $2.6M | 0% |
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% |
