olivLaw · US equity research
Insight Enterprises, Inc. NSIT
Retail-Catalog & Mail-Order Houses · SIC 5961 · Vertical: Retail-Catalog & Mail-Order Houses (SIC 5961)
Insight Enterprises is a solutions integrator combining hardware, software, services and cloud for clients in North America, EMEA and APAC. Driven by demand for AI, the company reported in the second quarter of 2026 a 15% rise in net sales to 2.4 billion USD, after 8.2 billion USD in annual sales in 2025.
At the close of 04 Nov 2026, Insight Enterprises, Inc. (NSIT) stock was 175.62 USD (+4.94% on the day), with market capitalisation 5.2 bn USD, P/E 25.7 on diluted EPS of 6.83 USD over the last 12 months, beta 1.05, 52-week range 64.43–178.72 USD. Latest reported quarter (Q2 2026): revenue of 2.4 bn USD (+14.7% YoY), net income of 77.6 m USD (+65.3% YoY), diluted EPS 2.57 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 59.0
- strong (55–70)
- Bollinger (20, 2)
- 156.73 – 182.83
- in the upper half of the band · %B 0.72 · band width 15.4%
- SMA 50 / 200
- 162.67 / 114.41
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 3.62 / 4.09
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +10.2% | −1.1% | +11.3 pp | — |
| 3 months | +25.2% | −0.5% | +25.6 pp | — |
| 6 months | +154.5% | +4.4% | +150.1 pp | — |
| Year to date | +115.6% | +12.3% | +103.2 pp | — |
| 1 year | +84.9% | +13.5% | +71.4 pp | −2.6% |
| 3 years | +18.9% | +76.4% | −57.5 pp | +12.3% |
| 5 years | +65.7% | +63.7% | +2.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.1 bn | 2.1 bn | 2.1 bn | 2.1 bn | 2.0 bn | 2.0 bn | 2.1 bn | 2.4 bn |
| Cost of revenue | 1.7 bn | 1.6 bn | 1.7 bn | 1.6 bn | 1.6 bn | 1.6 bn | 1.7 bn | 1.9 bn |
| Gross profit | 432.1 m | 439.6 m | 406.5 m | 442.3 m | 434.2 m | 478.4 m | 462.2 m | 521.6 m |
| SG&A | 330.0 m | 358.5 m | 339.2 m | 352.3 m | 332.9 m | 361.4 m | 384.0 m | 384.6 m |
| Operating income | 92.9 m | 64.7 m | 60.1 m | 86.5 m | 93.1 m | 95.2 m | 71.7 m | 131.0 m |
| Depreciation & amortisation | 25.9 m | 25.8 m | 25.8 m | 25.9 m | 26.3 m | 28.3 m | 28.5 m | 28.9 m |
| Interest expense | 16.6 m | 14.7 m | 15.6 m | 22.4 m | 23.3 m | 23.6 m | 23.6 m | 24.4 m |
| Pre-tax income | 75.1 m | 52.3 m | 19.0 m | 64.2 m | 70.7 m | 72.0 m | 49.5 m | 106.3 m |
| Income tax | 16.9 m | 15.2 m | 11.5 m | 17.2 m | 19.7 m | 20.0 m | 19.5 m | 28.7 m |
| Net income | 58.2 m | 37.0 m | 7.5 m | 46.9 m | 50.9 m | 52.0 m | 30.0 m | 77.6 m |
| Diluted EPS | 1.52 | 0.99 ≈ | 0.22 | 1.46 | 1.62 | 1.67 ≈ | 0.97 | 2.57 |
| Operating cash flow | 124.8 m ≈ | 215.1 m | 78.1 m | -177.1 m ≈ | 249.1 m ≈ | 153.8 m | 32.4 m | -12.2 m ≈ |
| Capex | 13.7 m ≈ | 14.4 m | 7.1 m | 4.8 m ≈ | 5.6 m ≈ | 7.0 m | 6.0 m | 7.9 m ≈ |
| Share repurchases | 165.0 m ≈ | 0 | 0 | 76.1 m ≈ | 75.0 m ≈ | 0 | 75.0 m | 75.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 90 percentile of its own 39-quarter history (min 9.0, median 16.2, max 32.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7.1 bn | 7.7 bn | 8.3 bn | 9.4 bn | 10.4 bn | 9.2 bn | 8.7 bn | 8.2 bn |
| Revenue YoY | +5.6% | +9.2% | +7.9% | +13.1% | +10.5% | −12.0% | −5.2% | −5.2% |
| Net income | 163.7 m | 159.4 m | 172.6 m | 219.3 m | 280.6 m | 281.3 m | 249.7 m | 157.3 m |
| Net income YoY | +80.5% | −2.6% | +8.3% | +27.1% | +27.9% | +0.2% | −11.2% | −37.0% |
| Diluted EPS | 4.55 | 4.43 | 4.87 | 5.95 | 7.66 | 7.55 | 6.55 | 4.86 |
| Diluted EPS YoY | +82.0% | −2.6% | +9.9% | +22.2% | +28.7% | −1.4% | −13.2% | −25.8% |
| net % | 2.3% | 2.1% | 2.1% | 2.3% | 2.7% | 3.1% | 2.9% | 1.9% |
| Free cash flow | 275.4 m | 58.8 m | 331.4 m | 111.6 m | 27.2 m | 580.3 m | 586.1 m | 279.3 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 358.0 m USD
- Financial debt
- 8.0 k USD
- Net debt
- -358.0 m USD
- Equity
- 1.6 bn USD
- Total assets
- 9.1 bn USD
- Debt / equity
- 0.00x
- Current ratio
- 1.25x
- ROE
- 9.2%
- ROA
- 1.9%
- FCF margin
- 3.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 8.3 bn | 9.4 bn | 10.4 bn | 9.2 bn | 8.7 bn | 8.2 bn | SEC (XBRL)· 12 Feb 2026verified |
| Cost of revenue | 7.0 bn | 8.0 bn | 8.8 bn | 7.5 bn | 6.9 bn | 6.5 bn | SEC (XBRL)· 12 Feb 2026verified |
| Gross profit | 1.3 bn | 1.4 bn | 1.6 bn | 1.7 bn | 1.8 bn | 1.8 bn | SEC (XBRL)· 12 Feb 2026verified |
| SG&A | 1.0 bn | 1.1 bn | 1.2 bn | 1.2 bn | 1.3 bn | 1.4 bn | SEC (XBRL)· 12 Feb 2026verified |
| Operating income | 271.6 m | 332.1 m | 413.7 m | 419.8 m | 388.6 m | 334.9 m | SEC (XBRL)· 12 Feb 2026verified |
| Depreciation & amortisation | 65.6 m | 55.4 m | 56.6 m | 62.5 m | 98.1 m | 106.3 m | SEC (XBRL)· 12 Feb 2026verified |
| EBITDA | 337.1 m ≈ | 387.5 m ≈ | 470.3 m ≈ | 482.3 m ≈ | 486.7 m ≈ | 441.2 m ≈ | SEC (XBRL)· 12 Feb 2026derived |
| Interest expense | 41.6 m | 40.5 m | 39.5 m | 41.1 m | 58.0 m | 84.8 m | SEC (XBRL)· 12 Feb 2026verified |
| Pre-tax income | 228.5 m | 292.6 m | 374.4 m | 377.9 m | 332.9 m | 225.8 m | SEC (XBRL)· 12 Feb 2026verified |
| Income tax | 55.8 m | 73.2 m | 93.8 m | 96.5 m | 83.2 m | 68.5 m | SEC (XBRL)· 12 Feb 2026verified |
| Net income | 172.6 m | 219.3 m | 280.6 m | 281.3 m | 249.7 m | 157.3 m | SEC (XBRL)· 12 Feb 2026verified |
| Diluted EPS | 4.87 | 5.95 | 7.66 | 7.55 | 6.55 | 4.86 | SEC (XBRL)· 12 Feb 2026verified |
| Weighted average diluted shares | 35.4 m | 36.9 m | 36.6 m | 37.2 m | 38.1 m | 32.3 m | SEC (XBRL)· 12 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 128.3 m | 103.8 m | 163.6 m | 268.7 m | 259.2 m | 358.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Receivables | 2.7 bn | 2.9 bn | 3.3 bn | 3.6 bn | 4.2 bn | 5.5 bn | SEC (XBRL)· 12 Feb 2026verified |
| Inventories | 185.7 m | 328.1 m | 265.2 m | 184.6 m | 122.6 m | 160.6 m | SEC (XBRL)· 12 Feb 2026verified |
| Current assets | 3.2 bn | 3.6 bn | 3.9 bn | 4.3 bn | 4.8 bn | 6.4 bn | SEC (XBRL)· 12 Feb 2026verified |
| Property, plant & equipment, net | 146.0 m | 176.3 m | 204.3 m | 210.1 m | 215.7 m | 188.4 m | SEC (XBRL)· 12 Feb 2026verified |
| Goodwill | 429.4 m | 428.3 m | 493.0 m | 684.3 m | 893.5 m | 1.2 bn | SEC (XBRL)· 12 Feb 2026verified |
| Intangibles (excl. goodwill) | 246.9 m | 214.8 m | 205.0 m | 369.7 m | 426.5 m | 426.2 m | SEC (XBRL)· 12 Feb 2026verified |
| Total assets | 4.3 bn | 4.7 bn | 5.1 bn | 6.3 bn | 7.4 bn | 9.1 bn | SEC (XBRL)· 12 Feb 2026verified |
| Short-term debt | 1.1 m | 36.0 k | 346.2 m | 348.0 m | 332.9 m | 8.0 k | SEC (XBRL)· 12 Feb 2026verified |
| Current liabilities | 2.2 bn | 2.5 bn | 2.9 bn | 3.4 bn | 4.1 bn | 5.1 bn | SEC (XBRL)· 12 Feb 2026verified |
| Total liabilities | 3.0 bn | 3.2 bn | 3.5 bn | 4.6 bn | 5.7 bn | 7.4 bn | SEC (XBRL)· 12 Feb 2026verified |
| Equity | 1.3 bn † | 1.5 bn † | 1.6 bn † | 1.7 bn † | 1.8 bn † | 1.6 bn † | SEC (XBRL)· 12 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 355.6 m | 163.7 m | 98.1 m | 619.5 m | 632.8 m | 303.8 m | SEC (XBRL)· 12 Feb 2026verified |
| Capex | 24.2 m | 52.1 m | 70.9 m | 39.3 m | 46.8 m | 24.5 m | SEC (XBRL)· 12 Feb 2026verified |
| Free cash flow | 331.4 m ≈ | 111.6 m ≈ | 27.2 m ≈ | 580.3 m ≈ | 586.1 m ≈ | 279.3 m ≈ | SEC (XBRL)· 12 Feb 2026derived |
| Investing cash flow | 9.7 m | -21.1 m | -137.8 m | -505.2 m | -303.3 m | -309.8 m | SEC (XBRL)· 12 Feb 2026verified |
| Financing cash flow | -361.8 m | -161.4 m | 114.0 m | -16.7 m | -321.3 m | 82.3 m | SEC (XBRL)· 12 Feb 2026verified |
| Share repurchases | 25.0 m | 50.0 m | 107.9 m | 217.1 m | 200.0 m | 151.1 m | SEC (XBRL)· 12 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 53 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 5.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation62
- Returns62
- Quality81
- Balance sheet50
- Growth0
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 114.05 – 289.79 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)178.89 – 263.47 (Mid 211.93)WACC 9.3% · starting FCFF 463.5 m USD · terminal value share of EV 72%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -13.1%
- Peers: EV/EBITDA262.94 – 289.79 (Mid 287.93)3 companies used · median multiple 16.1x · quartiles 14.6x – 16.2xAMZN, BZUN, CDW
- Peers: P/E114.05 – 195.11 (Mid 146.93)7 companies used · median multiple 21.5x · quartiles 16.7x – 28.6xAMZN, CDW, CHWY, GCT, HOUR, RVLV, VIPS
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 53/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 21.7% | 75 (vs peers) | 11% |
| Net margin · Quality | 2.5% | 71 (vs peers) | 7% |
| FCF conversion · Quality | 188.4% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | -7.5% | 0 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | -14.1% | 0 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | -0.7x | 63 (vs peers) | 11% |
| Interest coverage · Balance sheet | 4.1x | 40 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 1.2x | 32 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 25.7x | 38 (vs peers) | 11% |
| EV/EBITDA · Valuation | 9.5x | 60 (vs peers) | 11% |
| FCF yield · Valuation | 7.7% | 96 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 4.4% | 62 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet50/100 · 3/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality81/100 · 3/3 factors with a value
- Returns· partial62/100 · 1/2 factors with a value
- Valuation62/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
INSIGHT ENTERPRISES, INC. (NSIT). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 8.2 bn USD in 2025; YoY growth -5.2%; net margin 2.5%; ROE 13.1%; net debt/EBITDA -0.7x.
The estimated value range is 178.89–263.47 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 211.93 USD, the price of 175.62 USD leaves a potential of 20.7% (value / price − 1) and a margin of safety of 17.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 53/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 21.7%
- Net margin: 2.5%
- FCF conversion: 188.4%
- FCF yield: 7.7%
- The price is below the estimated value range
What contradicts it
- Revenue CAGR 3Y: -7.5%
- EPS CAGR 3Y: -14.1%
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Payout ratio (FCF).
Versus the vertical median
Retail-Catalog & Mail-Order Houses (SIC 5961) · same industry (4-digit SIC) · compared with 28 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AMZNAmazon.com, Inc. | 2,876.6 bn | 21.5 | 27.4% | 16.9% | +12.4% | +14% / +82% |
| CDWCdw Corp | 21.1 bn | 19.7 | 42.5% | 4.5% | +6.8% | +17% / −20% |
| NSITInsight Enterprises, Inc. | 5.2 bn | 25.7 | 13.1% | 2.5% | −5.2% | +85% / +19% |
| JMIAJumia Technologies AG | 1.3 bn | — | -108.9% | -32.6% | +12.8% | −57% / +60% |
| BZUNBaozun Inc. | 597.0 m | — | -6.6% | -2.4% | +10.2% | +21% / +16% |
| LITBLightInTheBox Holding Co., Ltd. | 590.4 m | 68.0 | — | 3.7% | −12.1% | +42% / −63% |
| GCTGigacloud Technology Inc | 539.8 m | 13.7 | 32.3% | 10.6% | +11.1% | +56% / +495% |
| HNSTThe Honest Company, Inc. | 476.3 m | — | -6.9% | -3.6% | −1.9% | +65% / +86% |
| TDUPThredUp Inc. | 290.9 m | — | -39.2% | -6.9% | +19.5% | −71% / +12% |
| DIBS1stdibs.com, Inc. | 186.9 m | — | -9.2% | -8.5% | +1.5% | −3% / +30% |
| NXHNeighborhood Intelligence, Inc. | 163.0 m | — | -47.0% | -7.1% | −25.1% | −72% / −91% |
| AKAa.k.a. Brands Holding Corp. | 116.0 m | — | -29.5% | -4.8% | +4.4% | −26% / +9% |
| SFIXStitch Fix, Inc. | 79.5 m | — | -6.3% | -0.9% | +6.4% | −31% / −21% |
| HOURHour Loop, Inc. | 53.9 m | 37.0 | 21.8% | 1.1% | +3.0% | −28% / +3% |
| GROVGrove Collaborative Holdings, Inc. | 47.4 m | — | — | -4.1% | −14.6% | −19% / −44% |
| LVLULulu’s Fashion Lounge Holdings, Inc. | 31.0 m | — | -602.9% | -3.2% | −10.6% | +107% / −74% |
| UZXLinkage Global Inc | 21.7 m | — | -63.1% | -144.5% | −50.5% | −98% / unavailable |
| GIFTGiftify, Inc. | 21.1 m | — | -36.2% | -8.8% | −6.5% | −47% / −85% |
| CHWYChewy, Inc. | 2.3 k | 35.3 | 72.0% | 2.1% | +6.2% | −33% / +34% |
| QVCGQVC Group, Inc. | 8 | — | -6.3% | -0.2% | −7.8% | unavailable / unavailable |
| PTRNPattern Group Inc. | — | — | 6.6% | 0.9% | +39.3% | +22% / unavailable |
| HEPSD-MARKET Electronic Services & Trading | — | — | -39.7% | -2.8% | +11.1% | +19% / +100% |
| LUXELuxExperience B.V. | — | — | 63.3% | 45.2% | +50.1% | +7% / +224% |
| VIPSVipshop Holdings Limited | — | 1.4 | 18.3% | 6.8% | +2.0% | −30% / −14% |
| WWayfair Inc. | — | — | — | -1.2% | +5.1% | +12% / +121% |
1- and 3-year price returns: for NSIT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 98.56 Total return -44% · Per year -44% | 175.12 Total return -0% · Per year -0% | 264.98 Total return 51% · Per year 51% |
| 3 years | 78.26 Total return -55% · Per year -24% | 158.04 Total return -10% · Per year -3% | 264.98 Total return 51% · Per year 15% |
| 5 years | 62.14 Total return -65% · Per year -19% | 142.63 Total return -19% · Per year -4% | 264.98 Total return 51% · Per year 9% |
- Exit P/E± 39.51
- Net margin± 27.66
- Annual revenue growth± 24.98
- Annual dilution± 2.32
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Insight Enterprises is a solutions integrator combining hardware, software, services and cloud for clients in North America, EMEA and APAC. Driven by demand for AI, the company reported in the second quarter of 2026 a 15% rise in net sales to 2.4 billion USD 2, after 8.2 billion USD in annual sales in 2025 1.
SWOT
Strengths
- The company has a broad partner base and decades of IT integration expertise, enabling it to offer complete solutions.
- Margin gains in cloud services and Insight Delivered show an ability to raise profitability as the sales mix shifts.
- A global footprint combined with recent acquisitions in AI, data and security supports a competitive services position.
Weaknesses
- Reliance on a few major partners, especially Microsoft, exposes the company to changes in commercial terms.
- Software sales fell in North America in 2025, and total sales declined over the full year.
- EMEA margins stayed below North American levels in the second quarter of 2026, while selling and administrative costs rose.
Opportunities
- Demand for AI, cloud and cybersecurity solutions could drive revenue growth with better margins.
- Recurring service models such as Device-as-a-Service can turn client capital spending into steady revenue.
- Expansion in APAC and EMEA, through acquisitions and organic growth, could diversify revenue sources.
Threats
- Price competition in the industry is aggressive, and larger competitors can offer more favorable terms.
- Changes in incentive programs of major partners could significantly reduce revenue and margins.
- Geopolitical tensions, tariffs and the chip shortage could slow client demand or raise supply costs.
Risks
- Intense competitionhigh
Competitors, including manufacturers and publishers whose products the company sells, can cut prices and limit margins.
- Partner dependencehigh
The company relies on partners for product availability and incentives, and long-term contracts with them are rare.
- Rapid technological changemedium
If investment in new technologies is insufficient, the company could lose its competitive advantage.
- Macroeconomic conditionsmedium
An economic slowdown or cuts in IT spending could delay client investment and affect collections.
- Financing costslow
High interest rates affect variable-rate debt, and the effective tax rate rose in 2025.
Investment thesis
What would need to be true (bull case)
- Strong quarterly growth, supported by AI, cloud and services, shows the model can deliver better growth and profitability.
- The raised adjusted diluted EPS guidance for 2026 suggests confidence in continuing the trend.
- Recent acquisitions in AI, data and security could extend the service offering with higher margins.
What would break the thesis
- Full-year 2025 sales declined, and growth in the second quarter of 2026 may not prove durable.
- Dependence on a small number of partners and changes in their incentives can quickly affect results.
- Operating cash flow was negative in the second quarter of 2026, which may raise questions about earnings quality.
What to watch
- Trend in gross margin and partner incentives, especially for cloudQ3 2026
- Delivery against the raised 2026 adjusted diluted EPS guidance2026
- Sales and operating margin trend in the EMEA segmentQ3 2026
- Effects of the memory chip shortage on pricing and supplynext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Insight presents itself as a solutions integrator that combines technology expertise with technical services, headquartered in Chandler, Arizona 1. The company operates three geographic segments, North America, EMEA and APAC, with 8.2 billion USD of sales in 2025 1. Offerings include hardware, software and services, including cloud solutions, and products represented about 79% of consolidated net sales in 2025 1.
Segments
Market context
Trends
- AI and cloud demandtailwind
Growth in the second quarter of 2026 was supported by AI demand, particularly in cloud, infrastructure and services 3. If this demand persists, it could support higher-margin services revenue.
- Partner incentive pressureheadwind
Changes in incentives from major partners, especially for cloud solutions, weighed on 2025 results 1. If these changes continue, they could reduce the company's earnings.
- Financing costs and supply chainmixed
Interest rates stay above historical levels for part of 2026, and a global memory chip shortage has increased pricing 2. These conditions could pressure margins and demand.
- Industry consolidation and acquisitionsmixed
The company acquired several firms from 2023 to 2025, including SADA, Infocenter, Inspire11 and Sekuro, to extend cloud, security and AI services 1. Consolidation can raise competition but also opens expansion opportunities.
Competitive position
The IT industry is highly fragmented and competitive 1. Competitors include systems integrators and digital consultants such as Accenture, Capgemini, Atos, HCL Technologies, Tata Consultancy Services and Infosys, as well as technology providers and resellers such as CDW, Presidio, World Wide Technology, SHI and Computacenter 1.
- AccentureACN
Systems integrator and digital consultant named as a competitor in IT services.
- CDWCDW
Technology reseller and solutions provider named as a competitor in IT distribution.
- Computacenter
European IT services provider and reseller, a competitor in the EMEA segment.
- DellDELL
Manufacturer that also sells directly to corporate clients, competing with the company in certain product categories.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Snap Insight: US midterms – what an angry ‘lame duck’ president could mean for AsiaCNA (Channel NewsAsia) · 04 Nov 2026 · EN
- GDP report to give insight before Election Day. And, Israel's election is deadlockedNPR News · 29 Oct 2026 · EN
- Snap Insight: PAP cadres chose cautious renewal in challenging timesCNA (Channel NewsAsia) · 25 Oct 2026 · EN
- Mechanism behind PARP1-mediated DNA repair characterized, offering insight into targeted cancer therapyPhys.org · 23 Oct 2026 · EN
- Mechanistic insight into conflicting valence fluctuation of Cu(I) photocorrosion pathways: The role of charge behaviorsPNAS · 22 Oct 2026 · EN
- RJ Mitte’s story offers insight into life with cerebral palsy and mental health issues | LettersThe Guardian — Health · 18 Oct 2026 · EN
- Snap Insight: Protecting Singapore’s outdoor workers from haze is easier said than doneCNA (Channel NewsAsia) · 16 Oct 2026 · EN
- Novel Insight into Organoarsenic Degradation and Inorganic Arsenic Sequestration in Ferrate Treatment: Unraveling the Role of Active Fe–As Complexes at the Molecular LevelEnvironmental Science & Technology · 14 Oct 2026 · EN
- Visegrad Insight is Hiring!Visegrad Insight (EN) · 14 Oct 2026 · EN
- US Bond Traders Await CPI, Warsh For Insight on Fed’s Rate PathBloomberg Markets · 11 Oct 2026 · EN
- Când mersul pe jos devine „stres bun”: Noi insight-uri din studiul MedLife pe Via TransilvanicaAdevărul · 07 Oct 2026 · RO
- Când mersul pe jos devine „stres bun”: Noi insight-uri din studiul MedLife pe Via TransilvanicaG4Media · 07 Oct 2026 · RO
- Insight from Carbon and Nitrogen Isotope Fractionation of Sulfamethoxazole during Oxidative vs Reductive TransformationEnvironmental Science & Technology · 01 Oct 2026 · EN
- Snap Insight: Though Trump-Xi summit achieves little, 2026 is a high point in US-China relationsCNA (Channel NewsAsia) · 25 Sept 2026 · EN
- Montreal's squirrels provide insight into evolutionary change in urban speciesPhys.org · 24 Sept 2026 · EN
- From incident insight to governed action with LogicMonitor Edwin AI and Red Hat Ansible Automation PlatformRed Hat Blog · 23 Sept 2026 · EN
- Romania Make - or - Break Cabinet ⋆ Visegrad InsightSurge — GDELT DOC · 21 Sept 2026 · RO
- Protein-Dominated Adsorption and Protection on Viruses in Model EPS Components: Insight from Multiscale Mechanistic AnalysisEnvironmental Science & Technology · 19 Sept 2026 · EN
- Retraction of “First Insight into the Mobilization and Sequestration of Arsenic in a Karstic Soil during Redox Changes”Environmental Science & Technology · 17 Sept 2026 · EN
- Azets Insight, firma cu 726 de angajaţi din Sibiu a grupului de contabilitate şi salarizare Azets, a raportat în 2025 prima scădere a afacerilor după 13 ani de creştereZiarul Financiar · 15 Sept 2026 · RO
SEC filings
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report01 Jun 2026Material agreement · Financial statements and exhibits
- Current report14 May 2026Amendments to articles or bylaws · Shareholder vote · Financial statements and exhibits
- Quarterly report07 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Proxy statement02 Apr 2026
- Current report (amendment)23 Mar 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Annual report12 Feb 2026
- Current report05 Feb 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Insight Enterprises, Inc. · 12 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Insight Enterprises, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Insight Enterprises, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.