vs
Acadia Healthcare Company, Inc.（ACHC）与TRINET GROUP, INC.（TNET）财务数据对比。点击上方公司名可切换其他公司
TRINET GROUP, INC.的季度营收约是Acadia Healthcare Company, Inc.的1.5倍（$1.2B vs $821.5M），Acadia Healthcare Company, Inc.同比增速更快（6.1% vs -2.2%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $-179.5M），过去两年Acadia Healthcare Company, Inc.的营收复合增速更高（3.4% vs -0.6%）
阿卡迪亚医疗公司是美国的营利性行为医疗健康服务提供商，目前在美国及波多黎各地区运营着超过225家医疗机构，搭建了覆盖广泛的行为健康服务网络，为有相关需求的人群提供专业的心理健康与行为干预服务。
TriNet Group, Inc.是一家面向中小企业的专业雇主组织，总部位于加州都柏林，服务员工规模在3至2500人之间的各类机构。可提供薪资管理、健康福利管理服务，还能为客户提供劳动法规合规、风险降低相关咨询，可作为外包人力资源部门为企业分担人事相关事务。
ACHC vs TNET — 直观对比
营收规模更大
TNET
是对方的1.5倍
$821.5M
营收增速更快
ACHC
高出8.3%
-2.2%
自由现金流更多
TNET
多$222.5M
$-179.5M
两年增速更快
ACHC
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $821.5M | $1.2B |
| 净利润 | $-1.2B | — |
| 毛利率 | — | — |
| 营业利润率 | -142.4% | 0.1% |
| 净利率 | -143.3% | — |
| 营收同比 | 6.1% | -2.2% |
| 净利润同比 | -3710.4% | — |
| 每股收益（稀释后） | $-12.98 | $0.02 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ACHCTNET
| Q4 25 | $821.5M | $1.2B | ||
| Q3 25 | $851.6M | $1.2B | ||
| Q2 25 | $869.2M | $1.2B | ||
| Q1 25 | $770.5M | $1.3B | ||
| Q4 24 | $774.2M | $1.3B | ||
| Q3 24 | $815.6M | $1.2B | ||
| Q2 24 | $796.0M | $1.2B | ||
| Q1 24 | $768.1M | $1.3B |
净利润ACHCTNET
| Q4 25 | $-1.2B | — | ||
| Q3 25 | $36.2M | $34.0M | ||
| Q2 25 | $30.1M | $37.0M | ||
| Q1 25 | $8.4M | $85.0M | ||
| Q4 24 | $32.6M | — | ||
| Q3 24 | $68.1M | $45.0M | ||
| Q2 24 | $78.5M | $60.0M | ||
| Q1 24 | $76.4M | $91.0M |
营业利润率ACHCTNET
| Q4 25 | -142.4% | 0.1% | ||
| Q3 25 | 4.7% | 4.1% | ||
| Q2 25 | 5.8% | 4.1% | ||
| Q1 25 | 1.7% | 8.9% | ||
| Q4 24 | 4.9% | -2.9% | ||
| Q3 24 | 12.1% | 4.7% | ||
| Q2 24 | 13.4% | 6.5% | ||
| Q1 24 | 12.9% | 9.7% |
净利率ACHCTNET
| Q4 25 | -143.3% | — | ||
| Q3 25 | 4.3% | 2.8% | ||
| Q2 25 | 3.5% | 3.0% | ||
| Q1 25 | 1.1% | 6.6% | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | 8.4% | 3.6% | ||
| Q2 24 | 9.9% | 4.9% | ||
| Q1 24 | 9.9% | 7.2% |
每股收益（稀释后）ACHCTNET
| Q4 25 | $-12.98 | $0.02 | ||
| Q3 25 | $0.40 | $0.70 | ||
| Q2 25 | $0.33 | $0.77 | ||
| Q1 25 | $0.09 | $1.71 | ||
| Q4 24 | $0.36 | $-0.44 | ||
| Q3 24 | $0.74 | $0.89 | ||
| Q2 24 | $0.85 | $1.20 | ||
| Q1 24 | $0.83 | $1.78 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $133.2M | $287.0M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $1.9B | $54.0M |
| 总资产 | $5.5B | $3.8B |
| 负债/权益比越低杠杆越低 | 1.28× | — |
8季度趋势，按日历期对齐
现金及短期投资ACHCTNET
| Q4 25 | $133.2M | $287.0M | ||
| Q3 25 | $118.7M | $321.0M | ||
| Q2 25 | $131.4M | $407.0M | ||
| Q1 25 | $91.2M | $349.0M | ||
| Q4 24 | $76.3M | $360.0M | ||
| Q3 24 | $82.1M | $301.0M | ||
| Q2 24 | $77.2M | $249.0M | ||
| Q1 24 | $77.3M | $383.0M |
总债务ACHCTNET
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $1.9B | — |
股东权益ACHCTNET
| Q4 25 | $1.9B | $54.0M | ||
| Q3 25 | $3.1B | $110.0M | ||
| Q2 25 | $3.1B | $107.0M | ||
| Q1 25 | $3.0B | $63.0M | ||
| Q4 24 | $3.1B | $69.0M | ||
| Q3 24 | $3.0B | $129.0M | ||
| Q2 24 | $3.0B | $100.0M | ||
| Q1 24 | $2.9B | $143.0M |
总资产ACHCTNET
| Q4 25 | $5.5B | $3.8B | ||
| Q3 25 | $6.4B | $3.4B | ||
| Q2 25 | $6.3B | $3.7B | ||
| Q1 25 | $6.1B | $3.8B | ||
| Q4 24 | $6.0B | $4.1B | ||
| Q3 24 | $5.9B | $3.7B | ||
| Q2 24 | $5.7B | $3.7B | ||
| Q1 24 | $5.5B | $4.0B |
负债/权益比ACHCTNET
| Q4 25 | 1.28× | — | ||
| Q3 25 | 0.74× | — | ||
| Q2 25 | 0.74× | — | ||
| Q1 25 | 0.72× | — | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.62× | — | ||
| Q1 24 | 0.65× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-86.3M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $-179.5M | $43.0M |
| 自由现金流率自由现金流/营收 | -21.8% | 3.4% |
| 资本支出强度资本支出/营收 | 11.3% | 1.4% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-439.9M | $234.0M |
8季度趋势，按日历期对齐
经营现金流ACHCTNET
| Q4 25 | $-86.3M | $61.0M | ||
| Q3 25 | $73.2M | $72.0M | ||
| Q2 25 | $133.5M | $75.0M | ||
| Q1 25 | $11.5M | $95.0M | ||
| Q4 24 | $116.7M | $65.0M | ||
| Q3 24 | $163.1M | $84.0M | ||
| Q2 24 | $171.1M | $39.0M | ||
| Q1 24 | $-321.3M | $91.0M |
自由现金流ACHCTNET
| Q4 25 | $-179.5M | $43.0M | ||
| Q3 25 | $-63.0M | $55.0M | ||
| Q2 25 | $-34.2M | $57.0M | ||
| Q1 25 | $-163.2M | $79.0M | ||
| Q4 24 | $-86.8M | $47.0M | ||
| Q3 24 | $-27.1M | $59.0M | ||
| Q2 24 | $16.9M | $22.0M | ||
| Q1 24 | $-463.7M | $73.0M |
自由现金流率ACHCTNET
| Q4 25 | -21.8% | 3.4% | ||
| Q3 25 | -7.4% | 4.5% | ||
| Q2 25 | -3.9% | 4.6% | ||
| Q1 25 | -21.2% | 6.1% | ||
| Q4 24 | -11.2% | 3.7% | ||
| Q3 24 | -3.3% | 4.8% | ||
| Q2 24 | 2.1% | 1.8% | ||
| Q1 24 | -60.4% | 5.8% |
资本支出强度ACHCTNET
| Q4 25 | 11.3% | 1.4% | ||
| Q3 25 | 16.0% | 1.4% | ||
| Q2 25 | 19.3% | 1.5% | ||
| Q1 25 | 22.7% | 1.2% | ||
| Q4 24 | 26.3% | 1.4% | ||
| Q3 24 | 23.3% | 2.0% | ||
| Q2 24 | 19.4% | 1.4% | ||
| Q1 24 | 18.5% | 1.4% |
现金转化率ACHCTNET
| Q4 25 | — | — | ||
| Q3 25 | 2.02× | 2.12× | ||
| Q2 25 | 4.43× | 2.03× | ||
| Q1 25 | 1.37× | 1.12× | ||
| Q4 24 | 3.58× | — | ||
| Q3 24 | 2.39× | 1.87× | ||
| Q2 24 | 2.18× | 0.65× | ||
| Q1 24 | -4.21× | 1.00× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ACHC
| Acute Inpatient Psychiatric Facilities | $451.2M | 55% |
| Comprehensive Treatment Centers | $144.2M | 18% |
| Medicare | $113.7M | 14% |
| Residential Treatment Centers | $89.7M | 11% |
| Self Payor | $16.1M | 2% |
| Other Payor | $10.7M | 1% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
