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INSPERITY, INC.（NSP）与西部数据（WDC）财务数据对比。点击上方公司名可切换其他公司
西部数据的季度营收约是INSPERITY, INC.的1.8倍（$3.0B vs $1.7B），西部数据同比增速更快（31.5% vs 3.4%），过去两年INSPERITY, INC.的营收复合增速更高（-3.8% vs -6.6%）
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。
西部数据（简称WD）是总部位于美国加利福尼亚州圣何塞的知名数据存储企业，成立于1970年，是全球最大的硬盘驱动器（HDD）制造商之一，产品覆盖消费级、企业级等多元存储场景，为全球客户提供高性能、高可靠性的存储解决方案。
NSP vs WDC — 直观对比
营收规模更大
WDC
是对方的1.8倍
$1.7B
营收增速更快
WDC
高出28.1%
3.4%
两年增速更快
NSP
近两年复合增速
-6.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $3.0B |
| 净利润 | — | $1.8B |
| 毛利率 | 10.3% | 45.7% |
| 营业利润率 | -2.8% | 30.1% |
| 净利率 | — | 61.1% |
| 营收同比 | 3.4% | 31.5% |
| 净利润同比 | — | 254.2% |
| 每股收益（稀释后） | $-0.87 | $4.73 |
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NSPWDC
| Q1 26 | — | $3.0B | ||
| Q4 25 | $1.7B | $2.8B | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.7B | $-1.2B | ||
| Q1 25 | $1.9B | $2.3B | ||
| Q4 24 | $1.6B | $4.3B | ||
| Q3 24 | $1.6B | $4.1B | ||
| Q2 24 | $1.6B | $3.8B |
净利润NSPWDC
| Q1 26 | — | $1.8B | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | $-20.0M | — | ||
| Q2 25 | $-5.0M | $282.0M | ||
| Q1 25 | $51.0M | $520.0M | ||
| Q4 24 | — | $594.0M | ||
| Q3 24 | $3.0M | $493.0M | ||
| Q2 24 | $18.0M | $39.0M |
毛利率NSPWDC
| Q1 26 | — | 45.7% | ||
| Q4 25 | 10.3% | 43.5% | ||
| Q3 25 | 12.0% | — | ||
| Q2 25 | 13.4% | — | ||
| Q1 25 | 16.6% | 39.8% | ||
| Q4 24 | 13.5% | 35.4% | ||
| Q3 24 | 14.7% | 37.9% | ||
| Q2 24 | 16.2% | 35.9% |
营业利润率NSPWDC
| Q1 26 | — | 30.1% | ||
| Q4 25 | -2.8% | 28.1% | ||
| Q3 25 | -1.5% | — | ||
| Q2 25 | -0.4% | — | ||
| Q1 25 | 3.7% | 33.1% | ||
| Q4 24 | -0.9% | 19.9% | ||
| Q3 24 | 0.1% | 18.1% | ||
| Q2 24 | 1.4% | 5.7% |
净利率NSPWDC
| Q1 26 | — | 61.1% | ||
| Q4 25 | — | 41.9% | ||
| Q3 25 | -1.2% | — | ||
| Q2 25 | -0.3% | -24.4% | ||
| Q1 25 | 2.7% | 22.7% | ||
| Q4 24 | — | 13.9% | ||
| Q3 24 | 0.2% | 12.0% | ||
| Q2 24 | 1.1% | 1.0% |
每股收益（稀释后）NSPWDC
| Q1 26 | — | $4.73 | ||
| Q4 25 | $-0.87 | $3.07 | ||
| Q3 25 | $-0.53 | — | ||
| Q2 25 | $-0.14 | $0.72 | ||
| Q1 25 | $1.35 | $1.42 | ||
| Q4 24 | $-0.21 | $1.63 | ||
| Q3 24 | $0.07 | $1.35 | ||
| Q2 24 | $0.48 | $0.15 |
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 | $2.0B |
| 总债务越低越好 | — | $4.7B |
| 股东权益账面价值 | $46.0M | $7.1B |
| 总资产 | $2.2B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.65× |
8季度趋势，按日历期对齐
现金及短期投资NSPWDC
| Q1 26 | — | $2.0B | ||
| Q4 25 | $682.0M | $2.0B | ||
| Q3 25 | $521.0M | — | ||
| Q2 25 | $511.0M | $2.1B | ||
| Q1 25 | $684.0M | $3.5B | ||
| Q4 24 | $1.2B | $2.3B | ||
| Q3 24 | $596.0M | $1.7B | ||
| Q2 24 | $850.0M | $1.9B |
总债务NSPWDC
| Q1 26 | — | $4.7B | ||
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | — | $7.3B | ||
| Q4 24 | — | $7.4B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $7.4B |
股东权益NSPWDC
| Q1 26 | — | $7.1B | ||
| Q4 25 | $46.0M | $5.9B | ||
| Q3 25 | $87.0M | — | ||
| Q2 25 | $112.0M | $5.3B | ||
| Q1 25 | $119.0M | $5.2B | ||
| Q4 24 | $97.0M | $12.1B | ||
| Q3 24 | $125.0M | $11.6B | ||
| Q2 24 | $142.0M | $10.8B |
总资产NSPWDC
| Q1 26 | — | $15.6B | ||
| Q4 25 | $2.2B | $14.4B | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | $14.0B | ||
| Q1 25 | $2.1B | $16.4B | ||
| Q4 24 | $2.6B | $25.5B | ||
| Q3 24 | $1.9B | $24.8B | ||
| Q2 24 | $2.1B | $24.2B |
负债/权益比NSPWDC
| Q1 26 | — | 0.65× | ||
| Q4 25 | — | 0.80× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.89× | ||
| Q1 25 | — | 1.42× | ||
| Q4 24 | — | 0.61× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.69× |
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NSPWDC
| Q1 26 | — | — | ||
| Q4 25 | $255.0M | $672.0M | ||
| Q3 25 | $-11.0M | — | ||
| Q2 25 | $-79.0M | $746.0M | ||
| Q1 25 | $-443.0M | $508.0M | ||
| Q4 24 | $619.0M | $403.0M | ||
| Q3 24 | $-150.0M | $34.0M | ||
| Q2 24 | $20.0M | $366.0M |
自由现金流NSPWDC
| Q1 26 | — | — | ||
| Q4 25 | $246.0M | $599.0M | ||
| Q3 25 | $-20.0M | — | ||
| Q2 25 | $-86.0M | $675.0M | ||
| Q1 25 | $-449.0M | $379.0M | ||
| Q4 24 | $606.0M | $287.0M | ||
| Q3 24 | $-164.0M | $-62.0M | ||
| Q2 24 | $14.0M | $250.0M |
自由现金流率NSPWDC
| Q1 26 | — | — | ||
| Q4 25 | 14.7% | 21.3% | ||
| Q3 25 | -1.2% | — | ||
| Q2 25 | -5.2% | -58.5% | ||
| Q1 25 | -24.1% | 16.5% | ||
| Q4 24 | 37.6% | 6.7% | ||
| Q3 24 | -10.5% | -1.5% | ||
| Q2 24 | 0.9% | 6.6% |
资本支出强度NSPWDC
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 2.6% | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.4% | -6.2% | ||
| Q1 25 | 0.3% | 5.6% | ||
| Q4 24 | 0.8% | 2.7% | ||
| Q3 24 | 0.9% | 2.3% | ||
| Q2 24 | 0.4% | 3.1% |
现金转化率NSPWDC
| Q1 26 | — | — | ||
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.65× | ||
| Q1 25 | -8.69× | 0.98× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | -50.00× | 0.07× | ||
| Q2 24 | 1.11× | 9.38× |
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% |
WDC
| Cloud | $2.7B | 89% |
| Client Devices | $176.0M | 6% |
| Consumer | $168.0M | 6% |
