Latest Ratios: P/E Ratio -245.8x · EV/EBITDA 42.3x · ROE -9.8%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.7B | $1.5B | $2.9B | $4.5B | $4.4B | $4.6B | $3.2B | $3.5B | $3.9B | $2.4B | $1.5B |
| Enterprise Value | $1.5B | $1.3B | $2.3B | $4.2B | $4.1B | $4.5B | $3.0B | $3.4B | $3.7B | $2.1B | $1.3B |
| P/E Ratio → | -245.78 | — | 32.43 | 26.22 | 24.48 | 37.14 | 23.00 | 23.01 | 28.55 | 28.53 | 22.89 |
| P/S Ratio | 0.25 | 0.22 | 0.45 | 0.69 | 0.74 | 0.93 | 0.74 | 0.80 | 1.01 | 0.72 | 0.50 |
| P/B Ratio | 36.55 | 31.99 | 30.36 | 47.81 | 53.97 | — | 71.62 | 851.16 | 49.85 | 35.66 | 24.47 |
| P/FCF | — | — | 6.11 | 28.38 | 13.82 | 20.25 | 12.73 | 23.33 | 25.96 | 13.82 | 15.01 |
| P/OCF | — | — | 5.66 | 22.64 | 12.62 | 17.68 | 9.13 | 16.92 | 20.99 | 11.57 | 11.16 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.19 | 0.36 | 0.65 | 0.69 | 0.90 | 0.71 | 0.80 | 0.96 | 0.64 | 0.44 |
| EV / EBITDA | 42.33 | 36.12 | 14.54 | 16.14 | 14.02 | 21.04 | 13.46 | 15.94 | 18.28 | 14.28 | 10.57 |
| EV / EBIT | — | 63.22 | 15.20 | 16.78 | 15.71 | 25.36 | 15.41 | 17.40 | 19.73 | 15.86 | 12.08 |
| EV / FCF | — | — | 4.86 | 26.70 | 12.85 | 19.62 | 12.25 | 23.06 | 24.74 | 12.36 | 13.17 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 13.2% | 13.2% | 16.0% | 16.0% | 17.0% | 16.5% | 18.8% | 17.0% | 17.8% | 17.4% | 16.7% |
| Operating Margin | -0.1% | -0.1% | 1.8% | 3.4% | 4.2% | 3.5% | 4.5% | 4.3% | 4.7% | 3.9% | 3.6% |
| Net Profit Margin | -0.1% | -0.1% | 1.4% | 2.6% | 3.0% | 2.5% | 3.2% | 3.5% | 3.5% | 2.6% | 2.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -9.8% | -9.8% | 95.3% | 195.1% | 451.2% | 585.9% | 573.5% | 369.6% | 188.1% | 133.1% | 56.6% |
| ROA | -0.3% | -0.3% | 3.9% | 8.2% | 9.5% | 7.4% | 9.3% | 11.7% | 12.0% | 8.6% | 7.8% |
| ROIC | — | — | — | — | — | — | — | — | — | — | — |
| ROCE | -1.6% | -1.6% | 17.3% | 32.0% | 38.2% | 26.6% | 32.3% | 39.5% | 47.3% | 40.4% | 35.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 9.46 | 9.46 | 4.48 | 4.54 | 5.23 | — | 9.83 | 80.48 | 1.86 | 1.57 | 1.72 |
| Debt / EBITDA | 12.43 | 12.43 | 2.70 | 1.63 | 1.46 | 2.05 | 1.92 | 1.52 | 0.72 | 0.70 | 0.85 |
| Net Debt / Equity | — | -4.50 | -6.23 | -2.83 | -3.79 | — | -2.75 | -9.58 | -2.35 | -3.77 | -3.00 |
| Net Debt / EBITDA | -5.91 | -5.91 | -3.75 | -1.02 | -1.06 | -0.67 | -0.54 | -0.18 | -0.90 | -1.69 | -1.48 |
| Debt / FCF | — | — | -1.25 | -1.68 | -0.97 | -0.63 | -0.49 | -0.26 | -1.22 | -1.46 | -1.84 |
| Interest Coverage | 0.83 | 0.83 | 5.50 | 9.33 | 18.27 | 23.57 | 24.61 | 25.80 | 40.07 | 41.50 | 44.90 |
Net cash position: cash ($642M) exceeds total debt ($435M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.06 | 1.06 | 1.08 | 1.11 | 1.12 | 1.10 | 1.19 | 1.12 | 1.12 | 1.07 | 1.07 |
| Quick Ratio | 1.06 | 1.06 | 1.08 | 1.11 | 1.12 | 1.10 | 1.19 | 1.05 | 1.06 | 1.00 | 0.97 |
| Cash Ratio | 0.41 | 0.41 | 0.55 | 0.49 | 0.57 | 0.54 | 0.65 | 0.46 | 0.50 | 0.49 | 0.48 |
| Asset Turnover | — | 3.09 | 2.53 | 3.06 | 2.91 | 2.84 | 2.71 | 3.09 | 3.21 | 3.10 | 3.24 |
| Inventory Turnover | — | — | — | — | — | — | — | 59.98 | 62.14 | 52.53 | 42.47 |
| Days Sales Outstanding | — | 45.81 | 45.98 | 39.05 | 38.28 | 38.59 | 33.44 | 39.71 | 38.19 | 38.02 | 34.15 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.4% | 6.1% | 3.0% | 1.9% | 1.7% | 3.1% | 2.0% | 1.4% | 0.9% | 2.8% | 1.4% |
| Payout Ratio | — | — | 97.8% | 49.3% | 42.7% | 116.2% | 44.8% | 32.2% | 24.7% | 77.9% | 31.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 3.1% | 3.8% | 4.1% | 2.7% | 4.3% | 4.3% | 3.5% | 3.5% | 4.4% |
| FCF Yield | — | — | 16.4% | 3.5% | 7.2% | 4.9% | 7.9% | 4.3% | 3.9% | 7.2% | 6.7% |
| Buyback Yield | 1.1% | 1.3% | 2.1% | 2.9% | 1.7% | 1.5% | 3.1% | 5.8% | 2.9% | 1.6% | 11.9% |
| Total Shareholder Yield | 6.5% | 7.4% | 5.2% | 4.8% | 3.4% | 4.6% | 5.1% | 7.2% | 3.8% | 4.4% | 13.3% |
| Shares Outstanding | — | $38M | $38M | $38M | $39M | $39M | $39M | $40M | $41M | $41M | $42M |
Rising medical benefit costs
According to recent market data, Insperity's forward P/E of 20.18 suggests investors are pricing in a recovery, yet the negative TTM P/E of -230.22 highlights the significant disconnect between current earnings performance and the valuation multiples typically assigned to more stable human capital management peers.
The current valuation appears to rely heavily on a return to historical profitability that remains unproven given recent margin compression. Investors should monitor whether the forward multiple is justified by operational improvements or if it reflects an overly optimistic outlook on the company's ability to pass through rising insurance costs.
Based on reported figures, ROIC has trended into negative territory, reaching -29.1% in 2025Q3, which indicates that the company is currently failing to generate returns above its cost of capital, a sharp reversal from the positive 12.8% ROIC observed in early 2025.
This decay in capital efficiency suggests that the core PEO model is struggling to absorb the rising costs of medical benefits and administrative overhead. The inability to maintain positive returns on invested capital warrants further investigation into whether the current service model requires a structural pivot to restore profitability.
As reported in financial statements, the asset turnover ratio has remained stagnant near 0.80, suggesting that the company's ability to generate revenue from its asset base is not improving despite the high-touch service model's focus on client retention and long-term engagement.
The lack of improvement in asset turnover, combined with persistent volatility in the cash conversion cycle, implies that the company's operational leverage is limited. Investors should monitor whether the current DSO levels indicate potential friction in collecting service fees from SMB clients during periods of economic cooling.
Based on recent SEC filings, the debt-to-equity ratio has surged to 9.46x as of 2025Q4, a level that appears increasingly precarious given the company's recent history of negative operating margins and the resulting pressure on its ability to service debt obligations comfortably.
This elevated leverage profile may limit the company's capacity for strategic reinvestment or share repurchases in the near term. The reliance on debt to bridge operational gaps suggests that the balance sheet is becoming a primary risk factor that could constrain management's options if market conditions deteriorate further.
As indicated by industry analysis, the P/E ratio is frequently misapplied to Insperity, as it obscures the impact of gross-reported pass-through costs and the inherent volatility of insurance-related underwriting risks that define the company's true economic earning power.
Investors should instead focus on 'Gross Profit per WSE' or 'Net Revenue' to better understand the underlying service value, as traditional P/E multiples fail to account for the actuarial mismatches that often drive quarterly earnings swings. Relying on P/E may lead to an inaccurate assessment of the company's fundamental health.
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Quick answers to the most common questions about buying NSP stock.
Insperity, Inc.'s current P/E ratio is -245.8x. The historical average is 29.9x.
Insperity, Inc.'s current EV/EBITDA is 42.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.3x.
Insperity, Inc.'s return on equity (ROE) is -9.8%. The historical average is 63.3%.
Based on historical data, Insperity, Inc. is trading at a P/E of -245.8x. Compare with industry peers and growth rates for a complete picture.
Insperity, Inc.'s current dividend yield is 5.35%.
Insperity, Inc. has 13.2% gross margin and -0.1% operating margin.
Insperity, Inc.'s Debt/EBITDA ratio is 12.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.