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INSPERITY, INC.（NSP）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
INSPERITY, INC.的季度营收约是思佳讯的1.6倍（$1.7B vs $1.0B），思佳讯同比增速更快（8.6% vs 3.4%），思佳讯自由现金流更多（$339.0M vs $246.0M），过去两年思佳讯的营收复合增速更高（-0.5% 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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
NSP vs SWKS — 直观对比
营收规模更大
NSP
是对方的1.6倍
$1.0B
营收增速更快
SWKS
高出5.2%
3.4%
自由现金流更多
SWKS
多$93.0M
$246.0M
两年增速更快
SWKS
近两年复合增速
-3.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.0B |
| 净利润 | — | $79.2M |
| 毛利率 | 10.3% | 41.3% |
| 营业利润率 | -2.8% | 10.0% |
| 净利率 | — | 7.6% |
| 营收同比 | 3.4% | 8.6% |
| 净利润同比 | — | 15.3% |
| 每股收益（稀释后） | $-0.87 | $0.53 |
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NSPSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.7B | $1.1B | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.7B | $965.0M | ||
| Q1 25 | $1.9B | $953.2M | ||
| Q4 24 | $1.6B | $1.1B | ||
| Q3 24 | $1.6B | $1.0B | ||
| Q2 24 | $1.6B | $905.5M |
净利润NSPSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | — | $141.4M | ||
| Q3 25 | $-20.0M | — | ||
| Q2 25 | $-5.0M | $105.0M | ||
| Q1 25 | $51.0M | $68.7M | ||
| Q4 24 | — | $162.0M | ||
| Q3 24 | $3.0M | $60.5M | ||
| Q2 24 | $18.0M | $120.9M |
毛利率NSPSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | 10.3% | 40.7% | ||
| Q3 25 | 12.0% | — | ||
| Q2 25 | 13.4% | 41.6% | ||
| Q1 25 | 16.6% | 41.1% | ||
| Q4 24 | 13.5% | 41.4% | ||
| Q3 24 | 14.7% | 41.9% | ||
| Q2 24 | 16.2% | 40.2% |
营业利润率NSPSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | -2.8% | 10.1% | ||
| Q3 25 | -1.5% | — | ||
| Q2 25 | -0.4% | 11.5% | ||
| Q1 25 | 3.7% | 10.2% | ||
| Q4 24 | -0.9% | 16.9% | ||
| Q3 24 | 0.1% | 5.8% | ||
| Q2 24 | 1.4% | 14.4% |
净利率NSPSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | — | 12.9% | ||
| Q3 25 | -1.2% | — | ||
| Q2 25 | -0.3% | 10.9% | ||
| Q1 25 | 2.7% | 7.2% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | 0.2% | 5.9% | ||
| Q2 24 | 1.1% | 13.4% |
每股收益（稀释后）NSPSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $-0.87 | $0.95 | ||
| Q3 25 | $-0.53 | — | ||
| Q2 25 | $-0.14 | $0.70 | ||
| Q1 25 | $1.35 | $0.43 | ||
| Q4 24 | $-0.21 | $1.00 | ||
| Q3 24 | $0.07 | $0.36 | ||
| Q2 24 | $0.48 | $0.75 |
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 | $1.6B |
| 总债务越低越好 | — | $496.6M |
| 股东权益账面价值 | $46.0M | $5.8B |
| 总资产 | $2.2B | $7.9B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资NSPSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $682.0M | $1.4B | ||
| Q3 25 | $521.0M | — | ||
| Q2 25 | $511.0M | $1.3B | ||
| Q1 25 | $684.0M | $1.5B | ||
| Q4 24 | $1.2B | $1.7B | ||
| Q3 24 | $596.0M | $1.6B | ||
| Q2 24 | $850.0M | $1.3B |
总债务NSPSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | — | $496.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $496.2M | ||
| Q1 25 | — | $995.1M | ||
| Q4 24 | — | $994.7M | ||
| Q3 24 | — | $994.3M | ||
| Q2 24 | — | $994.0M |
股东权益NSPSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $46.0M | $5.8B | ||
| Q3 25 | $87.0M | — | ||
| Q2 25 | $112.0M | $5.7B | ||
| Q1 25 | $119.0M | $5.9B | ||
| Q4 24 | $97.0M | $6.4B | ||
| Q3 24 | $125.0M | $6.3B | ||
| Q2 24 | $142.0M | $6.3B |
总资产NSPSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $2.2B | $7.9B | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | $7.7B | ||
| Q1 25 | $2.1B | $7.9B | ||
| Q4 24 | $2.6B | $8.3B | ||
| Q3 24 | $1.9B | $8.3B | ||
| Q2 24 | $2.1B | $8.2B |
负债/权益比NSPSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $246.0M | $339.0M |
| 自由现金流率自由现金流/营收 | 14.7% | 32.7% |
| 资本支出强度资本支出/营收 | 0.5% | 5.5% |
| 现金转化率经营现金流/净利润 | — | 4.99× |
| 过去12个月自由现金流最近4个季度 | $-309.0M | $1.1B |
8季度趋势，按日历期对齐
经营现金流NSPSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $255.0M | $200.0M | ||
| Q3 25 | $-11.0M | — | ||
| Q2 25 | $-79.0M | $314.2M | ||
| Q1 25 | $-443.0M | $409.4M | ||
| Q4 24 | $619.0M | $377.2M | ||
| Q3 24 | $-150.0M | $476.1M | ||
| Q2 24 | $20.0M | $273.4M |
自由现金流NSPSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $246.0M | $144.0M | ||
| Q3 25 | $-20.0M | — | ||
| Q2 25 | $-86.0M | $252.7M | ||
| Q1 25 | $-449.0M | $370.9M | ||
| Q4 24 | $606.0M | $338.2M | ||
| Q3 24 | $-164.0M | $393.3M | ||
| Q2 24 | $14.0M | $249.0M |
自由现金流率NSPSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 14.7% | 13.1% | ||
| Q3 25 | -1.2% | — | ||
| Q2 25 | -5.2% | 26.2% | ||
| Q1 25 | -24.1% | 38.9% | ||
| Q4 24 | 37.6% | 31.7% | ||
| Q3 24 | -10.5% | 38.4% | ||
| Q2 24 | 0.9% | 27.5% |
资本支出强度NSPSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 0.5% | 5.1% | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.4% | 6.4% | ||
| Q1 25 | 0.3% | 4.0% | ||
| Q4 24 | 0.8% | 3.6% | ||
| Q3 24 | 0.9% | 8.1% | ||
| Q2 24 | 0.4% | 2.7% |
现金转化率NSPSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | — | 1.41× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.99× | ||
| Q1 25 | -8.69× | 5.96× | ||
| Q4 24 | — | 2.33× | ||
| Q3 24 | -50.00× | 7.87× | ||
| Q2 24 | 1.11× | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
