Intrinsic value of Insperity - NSP

Previous Close

$77.30

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$77.30

 
Intrinsic value

$98.35

 
Up/down potential

+27%

 
Rating

buy

 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of NSP stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  12.94
  10.10
  9.59
  9.13
  8.72
  8.35
  8.01
  7.71
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
Revenue, $m
  2,941
  3,238
  3,549
  3,873
  4,210
  4,562
  4,927
  5,307
  5,702
  6,112
  6,538
  6,982
  7,442
  7,922
  8,420
  8,940
  9,481
  10,044
  10,632
  11,245
  11,885
  12,552
  13,250
  13,979
  14,741
  15,538
  16,372
  17,245
  18,158
  19,114
  20,116
Variable operating expenses, $m
 
  2,853
  3,126
  3,411
  3,709
  4,018
  4,340
  4,674
  5,022
  5,383
  5,759
  6,148
  6,553
  6,975
  7,415
  7,872
  8,348
  8,844
  9,362
  9,902
  10,465
  11,053
  11,667
  12,309
  12,981
  13,682
  14,417
  15,185
  15,989
  16,831
  17,713
Fixed operating expenses, $m
 
  255
  262
  268
  275
  282
  289
  296
  303
  311
  319
  327
  335
  343
  352
  361
  370
  379
  388
  398
  408
  418
  429
  439
  450
  462
  473
  485
  497
  510
  522
Total operating expenses, $m
  2,835
  3,108
  3,388
  3,679
  3,984
  4,300
  4,629
  4,970
  5,325
  5,694
  6,078
  6,475
  6,888
  7,318
  7,767
  8,233
  8,718
  9,223
  9,750
  10,300
  10,873
  11,471
  12,096
  12,748
  13,431
  14,144
  14,890
  15,670
  16,486
  17,341
  18,235
Operating income, $m
  106
  130
  161
  193
  227
  262
  298
  337
  376
  418
  461
  507
  554
  603
  654
  707
  763
  821
  882
  945
  1,011
  1,081
  1,154
  1,230
  1,310
  1,394
  1,482
  1,575
  1,672
  1,774
  1,880
EBITDA, $m
  123
  147
  179
  213
  248
  285
  323
  363
  405
  448
  494
  541
  590
  641
  694
  750
  808
  869
  933
  999
  1,069
  1,141
  1,218
  1,297
  1,381
  1,469
  1,561
  1,658
  1,759
  1,865
  1,977
Interest expense (income), $m
  2
  4
  -5
  -3
  0
  2
  5
  7
  10
  13
  16
  19
  22
  25
  29
  32
  36
  40
  44
  48
  53
  57
  62
  67
  72
  78
  84
  90
  96
  103
  109
Earnings before tax, $m
  105
  126
  166
  196
  227
  260
  294
  329
  366
  405
  445
  488
  532
  578
  625
  675
  727
  781
  837
  897
  959
  1,024
  1,092
  1,163
  1,238
  1,316
  1,399
  1,485
  1,576
  1,671
  1,771
Tax expense, $m
  39
  34
  45
  53
  61
  70
  79
  89
  99
  109
  120
  132
  144
  156
  169
  182
  196
  211
  226
  242
  259
  276
  295
  314
  334
  355
  378
  401
  425
  451
  478
Net income, $m
  66
  92
  121
  143
  166
  190
  214
  240
  267
  296
  325
  356
  388
  422
  456
  493
  530
  570
  611
  655
  700
  747
  797
  849
  904
  961
  1,021
  1,084
  1,150
  1,220
  1,293

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  288
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  907
  682
  747
  815
  886
  960
  1,037
  1,117
  1,200
  1,286
  1,376
  1,469
  1,566
  1,667
  1,772
  1,882
  1,995
  2,114
  2,238
  2,367
  2,501
  2,642
  2,789
  2,942
  3,103
  3,271
  3,446
  3,630
  3,822
  4,023
  4,234
Adjusted assets (=assets-cash), $m
  619
  682
  747
  815
  886
  960
  1,037
  1,117
  1,200
  1,286
  1,376
  1,469
  1,566
  1,667
  1,772
  1,882
  1,995
  2,114
  2,238
  2,367
  2,501
  2,642
  2,789
  2,942
  3,103
  3,271
  3,446
  3,630
  3,822
  4,023
  4,234
Revenue / Adjusted assets
  4.751
  4.748
  4.751
  4.752
  4.752
  4.752
  4.751
  4.751
  4.752
  4.753
  4.751
  4.753
  4.752
  4.752
  4.752
  4.750
  4.752
  4.751
  4.751
  4.751
  4.752
  4.751
  4.751
  4.752
  4.751
  4.750
  4.751
  4.751
  4.751
  4.751
  4.751
Average production assets, $m
  72
  78
  85
  93
  101
  109
  118
  127
  137
  147
  157
  168
  179
  190
  202
  215
  228
  241
  255
  270
  285
  301
  318
  335
  354
  373
  393
  414
  436
  459
  483
Working capital, $m
  39
  -275
  -302
  -329
  -358
  -388
  -419
  -451
  -485
  -520
  -556
  -593
  -633
  -673
  -716
  -760
  -806
  -854
  -904
  -956
  -1,010
  -1,067
  -1,126
  -1,188
  -1,253
  -1,321
  -1,392
  -1,466
  -1,543
  -1,625
  -1,710
Total debt, $m
  104
  -129
  -70
  -8
  56
  122
  191
  263
  338
  416
  497
  581
  668
  759
  853
  951
  1,054
  1,161
  1,272
  1,388
  1,509
  1,636
  1,768
  1,906
  2,050
  2,201
  2,359
  2,525
  2,698
  2,879
  3,069
Total liabilities, $m
  847
  613
  672
  734
  798
  864
  933
  1,005
  1,080
  1,158
  1,239
  1,323
  1,410
  1,501
  1,595
  1,693
  1,796
  1,903
  2,014
  2,130
  2,251
  2,378
  2,510
  2,648
  2,792
  2,943
  3,101
  3,267
  3,440
  3,621
  3,811
Total equity, $m
  61
  68
  75
  82
  89
  96
  104
  112
  120
  129
  138
  147
  157
  167
  177
  188
  200
  211
  224
  237
  250
  264
  279
  294
  310
  327
  345
  363
  382
  402
  423
Total liabilities and equity, $m
  908
  681
  747
  816
  887
  960
  1,037
  1,117
  1,200
  1,287
  1,377
  1,470
  1,567
  1,668
  1,772
  1,881
  1,996
  2,114
  2,238
  2,367
  2,501
  2,642
  2,789
  2,942
  3,102
  3,270
  3,446
  3,630
  3,822
  4,023
  4,234
Debt-to-equity ratio
  1.705
  -1.890
  -0.930
  -0.100
  0.630
  1.270
  1.850
  2.360
  2.820
  3.230
  3.610
  3.950
  4.260
  4.550
  4.810
  5.060
  5.280
  5.490
  5.680
  5.870
  6.030
  6.190
  6.340
  6.480
  6.610
  6.730
  6.850
  6.960
  7.060
  7.160
  7.250
Adjusted equity ratio
  -0.367
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  66
  92
  121
  143
  166
  190
  214
  240
  267
  296
  325
  356
  388
  422
  456
  493
  530
  570
  611
  655
  700
  747
  797
  849
  904
  961
  1,021
  1,084
  1,150
  1,220
  1,293
Depreciation, amort., depletion, $m
  17
  17
  18
  20
  22
  23
  25
  27
  29
  31
  33
  34
  36
  38
  40
  43
  46
  48
  51
  54
  57
  60
  64
  67
  71
  75
  79
  83
  87
  92
  97
Funds from operations, $m
  163
  109
  139
  163
  187
  213
  239
  267
  296
  326
  358
  390
  424
  460
  497
  535
  576
  618
  662
  709
  757
  808
  861
  916
  974
  1,036
  1,100
  1,167
  1,237
  1,312
  1,389
Change in working capital, $m
  30
  -25
  -26
  -28
  -29
  -30
  -31
  -32
  -34
  -35
  -36
  -38
  -39
  -41
  -42
  -44
  -46
  -48
  -50
  -52
  -54
  -57
  -59
  -62
  -65
  -68
  -71
  -74
  -78
  -81
  -85
Cash from operations, $m
  133
  143
  166
  190
  216
  243
  270
  299
  330
  361
  394
  428
  463
  500
  539
  580
  622
  666
  712
  761
  811
  864
  920
  978
  1,039
  1,103
  1,171
  1,241
  1,315
  1,393
  1,475
Maintenance CAPEX, $m
  0
  -14
  -16
  -17
  -19
  -20
  -22
  -24
  -25
  -27
  -29
  -31
  -34
  -36
  -38
  -40
  -43
  -46
  -48
  -51
  -54
  -57
  -60
  -64
  -67
  -71
  -75
  -79
  -83
  -87
  -92
New CAPEX, $m
  -34
  -6
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -12
  -13
  -14
  -14
  -15
  -15
  -16
  -17
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
Cash from investing activities, $m
  -26
  -20
  -23
  -25
  -27
  -28
  -31
  -33
  -34
  -37
  -39
  -42
  -45
  -48
  -50
  -52
  -56
  -60
  -62
  -66
  -69
  -73
  -77
  -81
  -85
  -90
  -95
  -100
  -105
  -110
  -116
Free cash flow, $m
  107
  122
  143
  166
  189
  214
  240
  267
  295
  324
  354
  386
  419
  453
  489
  527
  566
  607
  650
  695
  742
  791
  843
  897
  954
  1,013
  1,076
  1,142
  1,210
  1,283
  1,359
Issuance/(repayment) of debt, $m
  104
  -233
  59
  61
  64
  67
  69
  72
  75
  78
  81
  84
  87
  91
  94
  98
  102
  107
  111
  116
  121
  127
  132
  138
  144
  151
  158
  165
  173
  181
  190
Issuance/(repurchase) of shares, $m
  -175
  117
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -69
  -116
  59
  61
  64
  67
  69
  72
  75
  78
  81
  84
  87
  91
  94
  98
  102
  107
  111
  116
  121
  127
  132
  138
  144
  151
  158
  165
  173
  181
  190
Total cash flow (excl. dividends), $m
  38
  -110
  202
  227
  253
  281
  309
  339
  369
  402
  435
  470
  506
  544
  584
  625
  668
  714
  761
  811
  863
  918
  975
  1,035
  1,098
  1,164
  1,234
  1,307
  1,383
  1,464
  1,548
Retained Cash Flow (-), $m
  111
  -295
  -7
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -15
  -15
  -16
  -17
  -18
  -18
  -19
  -20
  -21
Prev. year cash balance distribution, $m
 
  288
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  0
  195
  220
  246
  273
  301
  331
  361
  393
  426
  460
  496
  534
  573
  614
  657
  702
  749
  798
  850
  904
  960
  1,020
  1,082
  1,148
  1,216
  1,288
  1,364
  1,444
  1,527
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  0
  179
  192
  203
  212
  219
  223
  226
  226
  223
  219
  212
  203
  192
  180
  167
  153
  138
  123
  108
  93
  80
  67
  55
  45
  35
  28
  21
  16
  12
Current shareholders' claim on cash, %
  100
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

Insperity, Inc. provides human resources (HR) and business solutions to enhance business performance for small and medium-sized businesses in the United States. The company offers its HR business services through its Workforce Optimization and Workforce Synchronization solutions, which encompasses a range of human resources functions comprising benefits and payroll administration, health and workersÂ’ compensation insurance programs, personnel records management, employer liability management, assistance with government compliance, general HR advice, employee recruiting and support, employee performance management, and training and development services. It also provides Employee Service Center, a cloud-based human capital management platform that provides automated and personalized professional employer organization HR outsourcing solutions to its clients and worksite employees; and Workforce Administration solution that offers human capital management and payroll services. In addition, Insperity, Inc. offers other business performance solutions consisting of human capital management, payroll services, time and attendance, organizational planning, recruiting services, employment screening, financial and expense management services, retirement services, and insurance services via desktop applications and cloud-based delivery models. The company was formerly known as Administaff, Inc. and changed its name to Insperity, Inc. in March 2011. Insperity, Inc. was founded in 1986 and is headquartered in Kingwood, Texas.

FINANCIAL RATIOS  of  Insperity (NSP)

Valuation Ratios
P/E Ratio 24.6
Price to Sales 0.6
Price to Book 26.6
Price to Tangible Book
Price to Cash Flow 12.2
Price to Free Cash Flow 16.4
Growth Rates
Sales Growth Rate 12.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 88.9%
Cap. Spend. - 3 Yr. Gr. Rate 23.2%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 170.5%
Total Debt to Equity 170.5%
Interest Coverage 54
Management Effectiveness
Return On Assets 8%
Ret/ On Assets - 3 Yr. Avg. 5.5%
Return On Total Capital 39.2%
Ret/ On T. Cap. - 3 Yr. Avg. 24.1%
Return On Equity 56.7%
Return On Equity - 3 Yr. Avg. 29.9%
Asset Turnover 3.5
Profitability Ratios
Gross Margin 16.7%
Gross Margin - 3 Yr. Avg. 16.9%
EBITDA Margin 4.2%
EBITDA Margin - 3 Yr. Avg. 3.5%
Operating Margin 3.6%
Oper. Margin - 3 Yr. Avg. 2.7%
Pre-Tax Margin 3.6%
Pre-Tax Margin - 3 Yr. Avg. 2.7%
Net Profit Margin 2.2%
Net Profit Margin - 3 Yr. Avg. 1.6%
Effective Tax Rate 37.1%
Eff/ Tax Rate - 3 Yr. Avg. 39.9%
Payout Ratio 31.8%

NSP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NSP stock intrinsic value calculation we used $2941 million for the last fiscal year's total revenue generated by Insperity. The default revenue input number comes from 2016 income statement of Insperity. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our NSP stock valuation model: a) initial revenue growth rate of 10.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for NSP is calculated based on our internal credit rating of Insperity, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Insperity.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of NSP stock the variable cost ratio is equal to 88.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $249 million in the base year in the intrinsic value calculation for NSP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.8% for Insperity.

Corporate tax rate of 27% is the nominal tax rate for Insperity. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the NSP stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for NSP are equal to 2.4%.

Life of production assets of 5 years is the average useful life of capital assets used in Insperity operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for NSP is equal to -8.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $61 million for Insperity - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 20.699 million for Insperity is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Insperity at the current share price and the inputted number of shares is $1.6 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
TNET TriNet Group 31.12 prem.  prem.
BBSI Barrett Busine 57.01 prem.  prem.
PAYX Paychex 59.11 prem.  prem.
ADP Automatic Data 101.16 prem.  prem.
WAGE WageWorks 70.80 prem.  prem.
VISI Volt Informati 5.85 prem.  prem.

COMPANY NEWS

▶ ETFs with exposure to Insperity, Inc. : May 4, 2017   [May-04-17 04:13PM  Capital Cube]
▶ Stocks Poised For Gains On Budget Deal; Dunkin' Gets Upgrade   [May-01-17 08:45AM  Investor's Business Daily]
▶ Insperity beats 1Q profit forecasts   [08:06AM  Associated Press]
▶ Insperity Announces First Quarter Results   [08:00AM  Business Wire]
▶ Insperity boosts dividend by 20%   [07:37AM  MarketWatch]
▶ Insperity Raises Quarterly Dividend 20%   [07:30AM  Business Wire]
▶ Market Recon: Another Fed Meeting Beckons   [07:17AM  TheStreet.com]
▶ Can The Uptrend Continue for Insperity (NSP)?   [Feb-23-17 09:39AM  Zacks]
▶ Should You Avoid Insperity Inc (NSP)?   [09:15AM  at Insider Monkey]
▶ Hedge Funds Are Buying Cambrex Corporation (CBM)   [Nov-28-16 01:18PM  at Insider Monkey]
▶ Insperity Enters Indianapolis   [Nov-14-16 09:00AM  Business Wire]
▶ Exclusive: Insperity to consolidate 200 employees in new building   [Oct-06-16 09:35AM  at bizjournals.com]
▶ Insperity Enters Relationship with iSolved HCM   [Oct-04-16 09:00AM  Business Wire]
▶ Insperity Declares Quarterly Dividend of $0.25   [Sep-02-16 08:00AM  Business Wire]
▶ Value Holdings Likes These 5 Industrials Stocks   [Aug-06-16 12:58AM  at Insider Monkey]
▶ Heres Why These Five Stocks Are Trending on Monday   [11:45AM  at Insider Monkey]
Stock chart of NSP Financial statements of NSP Annual reports of NSP
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.