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Side-by-side financial comparison of TRINET GROUP, INC. (TNET) and UGI CORP (UGI). Click either name above to swap in a different company.
UGI CORP is the larger business by last-quarter revenue ($2.1B vs $1.2B, roughly 1.7× TRINET GROUP, INC.). On growth, UGI CORP posted the faster year-over-year revenue change (3.9% vs -2.2%). TRINET GROUP, INC. produced more free cash flow last quarter ($43.0M vs $-155.0M). Over the past eight quarters, TRINET GROUP, INC.'s revenue compounded faster (-0.6% CAGR vs -7.5%).
TriNet Group, Inc. is a professional employer organization for small and medium-sized businesses. TriNet administers payroll and health benefits and advises clients on employment law compliance and risk reduction, acting in some cases as an outsourced human resources department. TriNet is headquartered in Dublin, California. TriNet partners with organizations between 3 and 2,500 employees.
UGI Corporation is a natural gas and electric power distribution company headquartered in King of Prussia, Pennsylvania, with extensive operations in the United States and Europe.
TNET vs UGI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $2.1B |
| Net Profit | — | $297.0M |
| Gross Margin | — | — |
| Operating Margin | 0.1% | 22.0% |
| Net Margin | — | 14.4% |
| Revenue YoY | -2.2% | 3.9% |
| Net Profit YoY | — | -20.8% |
| EPS (diluted) | $0.02 | $1.34 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.2B | $2.1B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.3B | $2.6B | ||
| Q4 24 | $1.3B | $2.0B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.2B | $1.4B | ||
| Q1 24 | $1.3B | $2.4B |
| Q4 25 | — | $297.0M | ||
| Q3 25 | $34.0M | $-13.0M | ||
| Q2 25 | $37.0M | $-163.0M | ||
| Q1 25 | $85.0M | $479.0M | ||
| Q4 24 | — | $375.0M | ||
| Q3 24 | $45.0M | $-273.0M | ||
| Q2 24 | $60.0M | $-48.0M | ||
| Q1 24 | $91.0M | $496.0M |
| Q4 25 | 0.1% | 22.0% | ||
| Q3 25 | 4.1% | 1.1% | ||
| Q2 25 | 4.1% | -6.8% | ||
| Q1 25 | 8.9% | 26.6% | ||
| Q4 24 | -2.9% | 24.5% | ||
| Q3 24 | 4.7% | -20.4% | ||
| Q2 24 | 6.5% | 5.0% | ||
| Q1 24 | 9.7% | 29.7% |
| Q4 25 | — | 14.4% | ||
| Q3 25 | 2.8% | -1.1% | ||
| Q2 25 | 3.0% | -12.0% | ||
| Q1 25 | 6.6% | 18.2% | ||
| Q4 24 | — | 18.9% | ||
| Q3 24 | 3.6% | -22.6% | ||
| Q2 24 | 4.9% | -3.6% | ||
| Q1 24 | 7.2% | 20.6% |
| Q4 25 | $0.02 | $1.34 | ||
| Q3 25 | $0.70 | $-0.08 | ||
| Q2 25 | $0.77 | $-0.76 | ||
| Q1 25 | $1.71 | $2.19 | ||
| Q4 24 | $-0.44 | $1.74 | ||
| Q3 24 | $0.89 | $-1.26 | ||
| Q2 24 | $1.20 | $-0.23 | ||
| Q1 24 | $1.78 | $2.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $287.0M | $251.0M |
| Total DebtLower is stronger | — | $6.0B |
| Stockholders' EquityBook value | $54.0M | $5.0B |
| Total Assets | $3.8B | $15.8B |
| Debt / EquityLower = less leverage | — | 1.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $287.0M | $251.0M | ||
| Q3 25 | $321.0M | $335.0M | ||
| Q2 25 | $407.0M | $350.0M | ||
| Q1 25 | $349.0M | $426.0M | ||
| Q4 24 | $360.0M | $240.0M | ||
| Q3 24 | $301.0M | $213.0M | ||
| Q2 24 | $249.0M | $183.0M | ||
| Q1 24 | $383.0M | $263.0M |
| Q4 25 | — | $6.0B | ||
| Q3 25 | — | $6.5B | ||
| Q2 25 | — | $5.7B | ||
| Q1 25 | — | $6.6B | ||
| Q4 24 | — | $6.6B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.3B | ||
| Q1 24 | — | $6.7B |
| Q4 25 | $54.0M | $5.0B | ||
| Q3 25 | $110.0M | $4.8B | ||
| Q2 25 | $107.0M | $4.9B | ||
| Q1 25 | $63.0M | $5.0B | ||
| Q4 24 | $69.0M | $4.6B | ||
| Q3 24 | $129.0M | $4.3B | ||
| Q2 24 | $100.0M | $4.7B | ||
| Q1 24 | $143.0M | $4.8B |
| Q4 25 | $3.8B | $15.8B | ||
| Q3 25 | $3.4B | $15.5B | ||
| Q2 25 | $3.7B | $15.4B | ||
| Q1 25 | $3.8B | $15.7B | ||
| Q4 24 | $4.1B | $15.4B | ||
| Q3 24 | $3.7B | $15.1B | ||
| Q2 24 | $3.7B | $15.1B | ||
| Q1 24 | $4.0B | $15.6B |
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 1.34× | ||
| Q1 24 | — | 1.40× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $61.0M | $66.0M |
| Free Cash FlowOCF − Capex | $43.0M | $-155.0M |
| FCF MarginFCF / Revenue | 3.4% | -7.5% |
| Capex IntensityCapex / Revenue | 1.4% | 10.7% |
| Cash ConversionOCF / Net Profit | — | 0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $234.0M | $282.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $61.0M | $66.0M | ||
| Q3 25 | $72.0M | $90.0M | ||
| Q2 25 | $75.0M | $289.0M | ||
| Q1 25 | $95.0M | $684.0M | ||
| Q4 24 | $65.0M | $164.0M | ||
| Q3 24 | $84.0M | $151.0M | ||
| Q2 24 | $39.0M | $390.0M | ||
| Q1 24 | $91.0M | $522.0M |
| Q4 25 | $43.0M | $-155.0M | ||
| Q3 25 | $55.0M | $-168.0M | ||
| Q2 25 | $57.0M | $67.0M | ||
| Q1 25 | $79.0M | $538.0M | ||
| Q4 24 | $47.0M | $-47.0M | ||
| Q3 24 | $59.0M | $-115.0M | ||
| Q2 24 | $22.0M | $185.0M | ||
| Q1 24 | $73.0M | $353.0M |
| Q4 25 | 3.4% | -7.5% | ||
| Q3 25 | 4.5% | -14.4% | ||
| Q2 25 | 4.6% | 4.9% | ||
| Q1 25 | 6.1% | 20.4% | ||
| Q4 24 | 3.7% | -2.4% | ||
| Q3 24 | 4.8% | -9.5% | ||
| Q2 24 | 1.8% | 13.7% | ||
| Q1 24 | 5.8% | 14.6% |
| Q4 25 | 1.4% | 10.7% | ||
| Q3 25 | 1.4% | 22.1% | ||
| Q2 25 | 1.5% | 16.3% | ||
| Q1 25 | 1.2% | 5.5% | ||
| Q4 24 | 1.4% | 10.6% | ||
| Q3 24 | 2.0% | 22.0% | ||
| Q2 24 | 1.4% | 15.2% | ||
| Q1 24 | 1.4% | 7.0% |
| Q4 25 | — | 0.22× | ||
| Q3 25 | 2.12× | — | ||
| Q2 25 | 2.03× | — | ||
| Q1 25 | 1.12× | 1.43× | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 0.65× | — | ||
| Q1 24 | 1.00× | 1.05× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
UGI
Segment breakdown not available.
