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INSPERITY, INC.（NSP）与OLD REPUBLIC INTERNATIONAL CORP（ORI）财务数据对比。点击上方公司名可切换其他公司
OLD REPUBLIC INTERNATIONAL CORP的季度营收约是INSPERITY, INC.的1.4倍（$2.4B vs $1.7B），OLD REPUBLIC INTERNATIONAL CORP同比增速更快（6.7% vs 3.4%），过去两年OLD REPUBLIC INTERNATIONAL CORP的营收复合增速更高（13.2% vs -3.8%）
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。
Old Republic International Corp是一家总部位于美国伊利诺伊州芝加哥的保险企业，核心业务覆盖财产保险、产权保险两大领域，深耕行业多年，具备成熟的风险防控能力与完善的服务体系，可为各类客户提供专业可靠的保险产品及相关解决方案。
NSP vs ORI — 直观对比
营收规模更大
ORI
是对方的1.4倍
$1.7B
营收增速更快
ORI
高出3.3%
3.4%
两年增速更快
ORI
近两年复合增速
-3.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $2.4B |
| 净利润 | — | $330.0M |
| 毛利率 | 10.3% | — |
| 营业利润率 | -2.8% | — |
| 净利率 | — | 13.8% |
| 营收同比 | 3.4% | 6.7% |
| 净利润同比 | — | 34.7% |
| 每股收益（稀释后） | $-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NSPORI
| Q1 26 | — | $2.4B | ||
| Q4 25 | $1.7B | $2.4B | ||
| Q3 25 | $1.6B | $2.4B | ||
| Q2 25 | $1.7B | $2.2B | ||
| Q1 25 | $1.9B | $2.1B | ||
| Q4 24 | $1.6B | $2.0B | ||
| Q3 24 | $1.6B | $2.3B | ||
| Q2 24 | $1.6B | $1.9B |
净利润NSPORI
| Q1 26 | — | $330.0M | ||
| Q4 25 | — | $206.5M | ||
| Q3 25 | $-20.0M | $279.5M | ||
| Q2 25 | $-5.0M | $204.4M | ||
| Q1 25 | $51.0M | $245.0M | ||
| Q4 24 | — | $105.3M | ||
| Q3 24 | $3.0M | $338.9M | ||
| Q2 24 | $18.0M | $91.8M |
毛利率NSPORI
| Q1 26 | — | — | ||
| Q4 25 | 10.3% | — | ||
| Q3 25 | 12.0% | — | ||
| Q2 25 | 13.4% | — | ||
| Q1 25 | 16.6% | — | ||
| Q4 24 | 13.5% | — | ||
| Q3 24 | 14.7% | — | ||
| Q2 24 | 16.2% | — |
营业利润率NSPORI
| Q1 26 | — | — | ||
| Q4 25 | -2.8% | — | ||
| Q3 25 | -1.5% | 14.6% | ||
| Q2 25 | -0.4% | 11.8% | ||
| Q1 25 | 3.7% | 14.6% | ||
| Q4 24 | -0.9% | — | ||
| Q3 24 | 0.1% | 18.2% | ||
| Q2 24 | 1.4% | 6.1% |
净利率NSPORI
| Q1 26 | — | 13.8% | ||
| Q4 25 | — | 8.6% | ||
| Q3 25 | -1.2% | 11.5% | ||
| Q2 25 | -0.3% | 9.3% | ||
| Q1 25 | 2.7% | 11.6% | ||
| Q4 24 | — | 5.3% | ||
| Q3 24 | 0.2% | 14.5% | ||
| Q2 24 | 1.1% | 4.9% |
每股收益（稀释后）NSPORI
| Q1 26 | — | — | ||
| Q4 25 | $-0.87 | $0.82 | ||
| Q3 25 | $-0.53 | $1.11 | ||
| Q2 25 | $-0.14 | $0.81 | ||
| Q1 25 | $1.35 | $0.98 | ||
| Q4 24 | $-0.21 | $0.42 | ||
| Q3 24 | $0.07 | $1.32 | ||
| Q2 24 | $0.48 | $0.35 |
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 | $682.0M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $46.0M | $5.9M |
| 总资产 | $2.2B | $29.6M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资NSPORI
| Q1 26 | — | — | ||
| Q4 25 | $682.0M | — | ||
| Q3 25 | $521.0M | — | ||
| Q2 25 | $511.0M | — | ||
| Q1 25 | $684.0M | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $596.0M | — | ||
| Q2 24 | $850.0M | — |
股东权益NSPORI
| Q1 26 | — | $5.9M | ||
| Q4 25 | $46.0M | $5.9B | ||
| Q3 25 | $87.0M | $6.4B | ||
| Q2 25 | $112.0M | $6.2B | ||
| Q1 25 | $119.0M | $5.9B | ||
| Q4 24 | $97.0M | $5.6B | ||
| Q3 24 | $125.0M | $6.4B | ||
| Q2 24 | $142.0M | $6.0B |
总资产NSPORI
| Q1 26 | — | $29.6M | ||
| Q4 25 | $2.2B | $29.9B | ||
| Q3 25 | $2.0B | $30.3B | ||
| Q2 25 | $2.0B | $29.3B | ||
| Q1 25 | $2.1B | $28.0B | ||
| Q4 24 | $2.6B | $27.8B | ||
| Q3 24 | $1.9B | $28.8B | ||
| Q2 24 | $2.1B | $27.5B |
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 | $255.0M | — |
| 自由现金流经营现金流 - 资本支出 | $246.0M | — |
| 自由现金流率自由现金流/营收 | 14.7% | — |
| 资本支出强度资本支出/营收 | 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 | $-309.0M | — |
8季度趋势，按日历期对齐
经营现金流NSPORI
| Q1 26 | — | — | ||
| Q4 25 | $255.0M | $234.9M | ||
| Q3 25 | $-11.0M | $563.9M | ||
| Q2 25 | $-79.0M | $133.8M | ||
| Q1 25 | $-443.0M | $231.7M | ||
| Q4 24 | $619.0M | $361.7M | ||
| Q3 24 | $-150.0M | $474.8M | ||
| Q2 24 | $20.0M | $236.5M |
自由现金流NSPORI
| Q1 26 | — | — | ||
| 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 | — |
自由现金流率NSPORI
| Q1 26 | — | — | ||
| 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% | — |
资本支出强度NSPORI
| Q1 26 | — | — | ||
| 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% | — |
现金转化率NSPORI
| Q1 26 | — | — | ||
| Q4 25 | — | 1.14× | ||
| Q3 25 | — | 2.02× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | -8.69× | 0.95× | ||
| Q4 24 | — | 3.43× | ||
| Q3 24 | -50.00× | 1.40× | ||
| Q2 24 | 1.11× | 2.58× |
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
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% |
ORI
| operating | $2.2B | 92% |
| Other | $201.8M | 8% |
