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Insperity NSP Landlord funded tenant improvements

Landlord funded tenant improvements at other companies

The Trade Desk logo
The Trade DeskTTD
$1.55M-69.9%
Laureate Education, Inc. logo
Laureate Education, Inc.LAUR
$160.9M+25.5%
Merit Medical Systems logo
Merit Medical SystemsMMSI
$66.07M+11.1%
Innovative Industrial Properties, Inc. logo
Innovative Industrial Properties, Inc.IIPR
$2.95M-67.4%
Highwoods Properties logo
Highwoods PropertiesHIW
$6.45B+9.4%
ArcBest logo
ArcBestARCB
$43.42M+30.1%

Other financials

Income statement

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Revenue$1.9B+1.7%
Gross profit$302.0M-2.6%
Operating income$62.0M-8.8%
Net income$33.0M-35.3%
EPS (diluted)$0.88-34.8%

Balance sheet

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Cash & equivalents$24.0M+60.0%
Total debt$430.0M-1.4%
Total equity$67.0M-43.7%
Total assets$2.2B+2.5%

Cash flow

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Operating cash flow-$67.0M+84.9%
CapEx$6.0M0.0%
Free cash flow-$73.0M+83.7%

Valuation

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Market cap$1.45B-69.3%
Enterprise value$1.86B-61.9%
P/S0.2×-0.5×

Profitability

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Gross margin13%-2.3pp
Operating margin-0.2%
Net margin-0.4%-1.4pp
FCF margin0.8%+0.5pp

Returns & leverage

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Return on equity-26.9%-82.5pp
Debt / equity6.4×+2.8×
Current ratio1.1×0.0×

Where this comes from

Reported directly by Insperity in its filing.

Tagged under the XBRL concept nsp:LandlordFundedTenantImprovements.

The official record: Insperity’s 10-K, filed February 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Insperity's landlord funded tenant improvements?
Insperity (NSP) reported landlord funded tenant improvements of $10M in Q4 2025.
What is the long-term trend for Insperity's landlord funded tenant improvements?
Over 2 years (2023 to 2025), Insperity's landlord funded tenant improvements has grown at a -12.3% compound annual growth rate (CAGR), from $13M to $10M.
What does landlord funded tenant improvements mean?
Represents the value of leasehold improvements paid for by the landlord, typically recorded as a liability and amortized over the lease term as a reduction to rent expense. This metric provides insight into the company's ability to negotiate favorable lease terms and manage capital expenditure requirements for office space.