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Alexandria Real Estate Equities（ARE）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Alexandria Real Estate Equities的1.9倍（$1.2B vs $671.0M），TRINET GROUP, INC.同比增速更快（-2.2% vs -11.5%），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -6.4%）
Alexandria Real Estate Equities（NYSE:ARE）是标普500成分股中的城市办公类房地产投资信托，作为业内首创、运营经验最丰富的先行企业，专注于在顶级创新集群区域开发、运营生命科学、科技及农业科技协作型产业园区。截至2020年12月末，公司总市值达319亿美元，北美地区资产总面积达4970万平方英尺。
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。
ARE vs TNET — 直观对比
营收规模更大
TNET
是对方的1.9倍
$671.0M
营收增速更快
TNET
高出9.3%
-11.5%
两年增速更快
TNET
近两年复合增速
-6.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $671.0M | $1.2B |
| 净利润 | $398.4M | — |
| 毛利率 | — | — |
| 营业利润率 | — | 0.1% |
| 净利率 | 59.4% | — |
| 营收同比 | -11.5% | -2.2% |
| 净利润同比 | 740.6% | — |
| 每股收益（稀释后） | $2.10 | $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ARETNET
| Q1 26 | $671.0M | — | ||
| Q4 25 | $754.4M | $1.2B | ||
| Q3 25 | $751.9M | $1.2B | ||
| Q2 25 | $762.0M | $1.2B | ||
| Q1 25 | $758.2M | $1.3B | ||
| Q4 24 | $788.9M | $1.3B | ||
| Q3 24 | $791.6M | $1.2B | ||
| Q2 24 | $766.7M | $1.2B |
净利润ARETNET
| Q1 26 | $398.4M | — | ||
| Q4 25 | $-1.1B | — | ||
| Q3 25 | $-232.8M | $34.0M | ||
| Q2 25 | $-107.0M | $37.0M | ||
| Q1 25 | $-8.9M | $85.0M | ||
| Q4 24 | $-62.2M | — | ||
| Q3 24 | $167.9M | $45.0M | ||
| Q2 24 | $46.7M | $60.0M |
营业利润率ARETNET
| Q1 26 | — | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | — | 4.1% | ||
| Q1 25 | — | 8.9% | ||
| Q4 24 | — | -2.9% | ||
| Q3 24 | — | 4.7% | ||
| Q2 24 | — | 6.5% |
净利率ARETNET
| Q1 26 | 59.4% | — | ||
| Q4 25 | -143.3% | — | ||
| Q3 25 | -31.0% | 2.8% | ||
| Q2 25 | -14.0% | 3.0% | ||
| Q1 25 | -1.2% | 6.6% | ||
| Q4 24 | -7.9% | — | ||
| Q3 24 | 21.2% | 3.6% | ||
| Q2 24 | 6.1% | 4.9% |
每股收益（稀释后）ARETNET
| Q1 26 | $2.10 | — | ||
| Q4 25 | $-6.35 | $0.02 | ||
| Q3 25 | $-1.38 | $0.70 | ||
| Q2 25 | $-0.64 | $0.77 | ||
| Q1 25 | $-0.07 | $1.71 | ||
| Q4 24 | $-0.38 | $-0.44 | ||
| Q3 24 | $0.96 | $0.89 | ||
| Q2 24 | $0.25 | $1.20 |
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 | $418.7M | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $19.4B | $54.0M |
| 总资产 | $34.2B | $3.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ARETNET
| Q1 26 | $418.7M | — | ||
| Q4 25 | $549.1M | $287.0M | ||
| Q3 25 | $579.5M | $321.0M | ||
| Q2 25 | $520.5M | $407.0M | ||
| Q1 25 | $476.4M | $349.0M | ||
| Q4 24 | $552.1M | $360.0M | ||
| Q3 24 | $562.6M | $301.0M | ||
| Q2 24 | $561.0M | $249.0M |
总债务ARETNET
| Q1 26 | — | — | ||
| Q4 25 | $12.4B | — | ||
| Q3 25 | $13.6B | — | ||
| Q2 25 | $13.3B | — | ||
| Q1 25 | $13.1B | — | ||
| Q4 24 | $12.2B | — | ||
| Q3 24 | $12.7B | — | ||
| Q2 24 | $12.4B | — |
股东权益ARETNET
| Q1 26 | $19.4B | — | ||
| Q4 25 | $15.5B | $54.0M | ||
| Q3 25 | $16.6B | $110.0M | ||
| Q2 25 | $17.2B | $107.0M | ||
| Q1 25 | $17.5B | $63.0M | ||
| Q4 24 | $17.9B | $69.0M | ||
| Q3 24 | $18.2B | $129.0M | ||
| Q2 24 | $18.3B | $100.0M |
总资产ARETNET
| Q1 26 | $34.2B | — | ||
| Q4 25 | $34.1B | $3.8B | ||
| Q3 25 | $37.4B | $3.4B | ||
| Q2 25 | $37.6B | $3.7B | ||
| Q1 25 | $37.6B | $3.8B | ||
| Q4 24 | $37.5B | $4.1B | ||
| Q3 24 | $38.5B | $3.7B | ||
| Q2 24 | $37.8B | $3.7B |
负债/权益比ARETNET
| Q1 26 | — | — | ||
| Q4 25 | 0.80× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.77× | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.68× | — |
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 | $475.0M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | — | $43.0M |
| 自由现金流率自由现金流/营收 | — | 3.4% |
| 资本支出强度资本支出/营收 | 76.0% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.19× | — |
| 过去12个月自由现金流最近4个季度 | — | $234.0M |
8季度趋势，按日历期对齐
经营现金流ARETNET
| Q1 26 | $475.0M | — | ||
| Q4 25 | $312.4M | $61.0M | ||
| Q3 25 | $433.5M | $72.0M | ||
| Q2 25 | $460.2M | $75.0M | ||
| Q1 25 | $207.9M | $95.0M | ||
| Q4 24 | $274.2M | $65.0M | ||
| Q3 24 | $477.4M | $84.0M | ||
| Q2 24 | $411.8M | $39.0M |
自由现金流ARETNET
| Q1 26 | — | — | ||
| Q4 25 | — | $43.0M | ||
| Q3 25 | — | $55.0M | ||
| Q2 25 | — | $57.0M | ||
| Q1 25 | — | $79.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | — | $59.0M | ||
| Q2 24 | — | $22.0M |
自由现金流率ARETNET
| Q1 26 | — | — | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 1.8% |
资本支出强度ARETNET
| Q1 26 | 76.0% | — | ||
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.4% |
现金转化率ARETNET
| Q1 26 | 1.19× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | — | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.84× | 1.87× | ||
| Q2 24 | 8.82× | 0.65× |
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
ARE
| Same properties | $431.4M | 64% |
| Tenant recoveries | $178.2M | 27% |
| Non-same properties | $43.3M | 6% |
| Other | $18.0M | 3% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
