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INSPERITY, INC.（NSP）与罗致恒富（RHI）财务数据对比。点击上方公司名可切换其他公司
INSPERITY, INC.的季度营收约是罗致恒富的1.3倍（$1.7B vs $1.3B）。INSPERITY, INC.同比增速更快（3.4% vs -5.8%）。INSPERITY, INC.自由现金流更多（$246.0M vs $170.8M）。过去两年INSPERITY, INC.的营收复合增速更高（-3.8% vs -6.1%）
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。
罗致恒富是1948年成立的国际人力资源咨询机构，总部位于加利福尼亚州门洛帕克和圣拉蒙，是全球规模领先的会计与金融领域人才派遣服务商之一，在全球范围内设有超过345个办公点。
NSP vs RHI — 直观对比
营收规模更大
NSP
是对方的1.3倍
$1.3B
营收增速更快
NSP
高出9.2%
-5.8%
自由现金流更多
NSP
多$75.2M
$170.8M
两年增速更快
NSP
近两年复合增速
-6.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.3B |
| 净利润 | — | — |
| 毛利率 | 10.3% | 37.6% |
| 营业利润率 | -2.8% | 1.7% |
| 净利率 | — | — |
| 营收同比 | 3.4% | -5.8% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-0.87 | $0.32 |
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NSPRHI
| Q4 25 | $1.7B | $1.3B | ||
| Q3 25 | $1.6B | $1.4B | ||
| Q2 25 | $1.7B | $1.4B | ||
| Q1 25 | $1.9B | $1.4B | ||
| Q4 24 | $1.6B | $1.4B | ||
| Q3 24 | $1.6B | $1.5B | ||
| Q2 24 | $1.6B | $1.5B | ||
| Q1 24 | $1.8B | $1.5B |
净利润NSPRHI
| Q4 25 | — | — | ||
| Q3 25 | $-20.0M | $42.9M | ||
| Q2 25 | $-5.0M | $41.0M | ||
| Q1 25 | $51.0M | $17.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $3.0M | $65.5M | ||
| Q2 24 | $18.0M | $68.2M | ||
| Q1 24 | $79.0M | $63.7M |
毛利率NSPRHI
| Q4 25 | 10.3% | 37.6% | ||
| Q3 25 | 12.0% | 37.2% | ||
| Q2 25 | 13.4% | 37.2% | ||
| Q1 25 | 16.6% | 36.9% | ||
| Q4 24 | 13.5% | 38.8% | ||
| Q3 24 | 14.7% | 39.0% | ||
| Q2 24 | 16.2% | 39.2% | ||
| Q1 24 | 19.1% | 38.1% |
营业利润率NSPRHI
| Q4 25 | -2.8% | 1.7% | ||
| Q3 25 | -1.5% | 1.0% | ||
| Q2 25 | -0.4% | 0.1% | ||
| Q1 25 | 3.7% | 2.9% | ||
| Q4 24 | -0.9% | 4.7% | ||
| Q3 24 | 0.1% | 4.1% | ||
| Q2 24 | 1.4% | 5.1% | ||
| Q1 24 | 6.0% | 2.8% |
净利率NSPRHI
| Q4 25 | — | — | ||
| Q3 25 | -1.2% | 3.2% | ||
| Q2 25 | -0.3% | 3.0% | ||
| Q1 25 | 2.7% | 1.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.2% | 4.5% | ||
| Q2 24 | 1.1% | 4.6% | ||
| Q1 24 | 4.4% | 4.3% |
每股收益（稀释后）NSPRHI
| Q4 25 | $-0.87 | $0.32 | ||
| Q3 25 | $-0.53 | $0.43 | ||
| Q2 25 | $-0.14 | $0.41 | ||
| Q1 25 | $1.35 | $0.17 | ||
| Q4 24 | $-0.21 | $0.53 | ||
| Q3 24 | $0.07 | $0.64 | ||
| Q2 24 | $0.48 | $0.66 | ||
| Q1 24 | $2.08 | $0.61 |
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 | $464.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $46.0M | $1.3B |
| 总资产 | $2.2B | $2.9B |
| 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NSPRHI
| Q4 25 | $682.0M | $464.4M | ||
| Q3 25 | $521.0M | $365.3M | ||
| Q2 25 | $511.0M | $380.5M | ||
| Q1 25 | $684.0M | $342.5M | ||
| Q4 24 | $1.2B | $537.6M | ||
| Q3 24 | $596.0M | $570.5M | ||
| Q2 24 | $850.0M | $547.4M | ||
| Q1 24 | $801.0M | $540.9M |
股东权益NSPRHI
| Q4 25 | $46.0M | $1.3B | ||
| Q3 25 | $87.0M | $1.3B | ||
| Q2 25 | $112.0M | $1.3B | ||
| Q1 25 | $119.0M | $1.3B | ||
| Q4 24 | $97.0M | $1.4B | ||
| Q3 24 | $125.0M | $1.5B | ||
| Q2 24 | $142.0M | $1.5B | ||
| Q1 24 | $140.0M | $1.5B |
总资产NSPRHI
| Q4 25 | $2.2B | $2.9B | ||
| Q3 25 | $2.0B | $2.8B | ||
| Q2 25 | $2.0B | $2.8B | ||
| Q1 25 | $2.1B | $2.7B | ||
| Q4 24 | $2.6B | $2.9B | ||
| Q3 24 | $1.9B | $3.0B | ||
| Q2 24 | $2.1B | $2.9B | ||
| Q1 24 | $2.1B | $2.9B |
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 | $182.5M |
| 自由现金流经营现金流 - 资本支出 | $246.0M | $170.8M |
| 自由现金流率自由现金流/营收 | 14.7% | 13.1% |
| 资本支出强度资本支出/营收 | 0.5% | 0.9% |
| 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 | $266.8M |
8季度趋势，按日历期对齐
经营现金流NSPRHI
| Q4 25 | $255.0M | $182.5M | ||
| Q3 25 | $-11.0M | $77.4M | ||
| Q2 25 | $-79.0M | $119.4M | ||
| Q1 25 | $-443.0M | $-59.3M | ||
| Q4 24 | $619.0M | $154.8M | ||
| Q3 24 | $-150.0M | $129.6M | ||
| Q2 24 | $20.0M | $142.0M | ||
| Q1 24 | $31.0M | $-15.9M |
自由现金流NSPRHI
| Q4 25 | $246.0M | $170.8M | ||
| Q3 25 | $-20.0M | $63.6M | ||
| Q2 25 | $-86.0M | $104.2M | ||
| Q1 25 | $-449.0M | $-71.7M | ||
| Q4 24 | $606.0M | $140.5M | ||
| Q3 24 | $-164.0M | $111.8M | ||
| Q2 24 | $14.0M | $129.6M | ||
| Q1 24 | $26.0M | $-27.7M |
自由现金流率NSPRHI
| Q4 25 | 14.7% | 13.1% | ||
| Q3 25 | -1.2% | 4.7% | ||
| Q2 25 | -5.2% | 7.6% | ||
| Q1 25 | -24.1% | -5.3% | ||
| Q4 24 | 37.6% | 10.2% | ||
| Q3 24 | -10.5% | 7.6% | ||
| Q2 24 | 0.9% | 8.8% | ||
| Q1 24 | 1.4% | -1.9% |
资本支出强度NSPRHI
| Q4 25 | 0.5% | 0.9% | ||
| Q3 25 | 0.6% | 1.0% | ||
| Q2 25 | 0.4% | 1.1% | ||
| Q1 25 | 0.3% | 0.9% | ||
| Q4 24 | 0.8% | 1.0% | ||
| Q3 24 | 0.9% | 1.2% | ||
| Q2 24 | 0.4% | 0.8% | ||
| Q1 24 | 0.3% | 0.8% |
现金转化率NSPRHI
| Q4 25 | — | — | ||
| Q3 25 | — | 1.80× | ||
| Q2 25 | — | 2.91× | ||
| Q1 25 | -8.69× | -3.42× | ||
| Q4 24 | — | — | ||
| Q3 24 | -50.00× | 1.98× | ||
| Q2 24 | 1.11× | 2.08× | ||
| Q1 24 | 0.39× | -0.25× |
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% |
RHI
| Finance And Accounting | $535.2M | 41% |
| Protiviti | $479.0M | 37% |
| Technology | $156.4M | 12% |
| Permanent Placement Talent Solutions | $102.6M | 8% |
| Other | $29.2M | 2% |
