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ATI INC（ATI）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ATI INC的1.1倍（$1.2B vs $1.2B），ATI INC同比增速更快（0.4% vs -2.2%），ATI INC自由现金流更多（$223.1M vs $43.0M），过去两年ATI INC的营收复合增速更高（6.2% vs -0.6%）
ATI是加拿大半导体科技企业，总部位于安大略省万锦市，专注于图形处理器（GPU）及芯片组研发。公司成立于1985年，1993年公开上市，2006年被AMD收购。作为无晶圆厂半导体巨头，ATI坚持自主研发，生产组装环节外包，2000年竞争对手3dfx破产后，成为全球图形芯片领域的核心厂商之一。
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。
ATI vs TNET — 直观对比
营收规模更大
TNET
是对方的1.1倍
$1.2B
营收增速更快
ATI
高出2.6%
-2.2%
自由现金流更多
ATI
多$180.1M
$43.0M
两年增速更快
ATI
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.2B |
| 净利润 | $96.6M | — |
| 毛利率 | 23.2% | — |
| 营业利润率 | 14.5% | 0.1% |
| 净利率 | 8.2% | — |
| 营收同比 | 0.4% | -2.2% |
| 净利润同比 | -29.5% | — |
| 每股收益（稀释后） | $0.70 | $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ATITNET
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.0B | $1.3B |
净利润ATITNET
| Q4 25 | $96.6M | — | ||
| Q3 25 | $110.0M | $34.0M | ||
| Q2 25 | $100.7M | $37.0M | ||
| Q1 25 | $97.0M | $85.0M | ||
| Q4 24 | $137.1M | — | ||
| Q3 24 | $82.7M | $45.0M | ||
| Q2 24 | $81.9M | $60.0M | ||
| Q1 24 | $66.1M | $91.0M |
毛利率ATITNET
| Q4 25 | 23.2% | — | ||
| Q3 25 | 22.7% | — | ||
| Q2 25 | 21.3% | — | ||
| Q1 25 | 20.6% | — | ||
| Q4 24 | 21.2% | — | ||
| Q3 24 | 21.4% | — | ||
| Q2 24 | 20.8% | — | ||
| Q1 24 | 18.9% | — |
营业利润率ATITNET
| Q4 25 | 14.5% | 0.1% | ||
| Q3 25 | 14.4% | 4.1% | ||
| Q2 25 | 14.1% | 4.1% | ||
| Q1 25 | 12.8% | 8.9% | ||
| Q4 24 | 17.8% | -2.9% | ||
| Q3 24 | 13.5% | 4.7% | ||
| Q2 24 | 13.0% | 6.5% | ||
| Q1 24 | 11.0% | 9.7% |
净利率ATITNET
| Q4 25 | 8.2% | — | ||
| Q3 25 | 9.8% | 2.8% | ||
| Q2 25 | 8.8% | 3.0% | ||
| Q1 25 | 8.5% | 6.6% | ||
| Q4 24 | 11.7% | — | ||
| Q3 24 | 7.9% | 3.6% | ||
| Q2 24 | 7.5% | 4.9% | ||
| Q1 24 | 6.3% | 7.2% |
每股收益（稀释后）ATITNET
| Q4 25 | $0.70 | $0.02 | ||
| Q3 25 | $0.78 | $0.70 | ||
| Q2 25 | $0.70 | $0.77 | ||
| Q1 25 | $0.67 | $1.71 | ||
| Q4 24 | $0.94 | $-0.44 | ||
| Q3 24 | $0.57 | $0.89 | ||
| Q2 24 | $0.58 | $1.20 | ||
| Q1 24 | $0.46 | $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 | $416.7M | $287.0M |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $1.8B | $54.0M |
| 总资产 | $5.1B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.95× | — |
8季度趋势，按日历期对齐
现金及短期投资ATITNET
| Q4 25 | $416.7M | $287.0M | ||
| Q3 25 | $372.2M | $321.0M | ||
| Q2 25 | $319.6M | $407.0M | ||
| Q1 25 | $475.8M | $349.0M | ||
| Q4 24 | $721.2M | $360.0M | ||
| Q3 24 | $406.6M | $301.0M | ||
| Q2 24 | $425.6M | $249.0M | ||
| Q1 24 | $394.4M | $383.0M |
总债务ATITNET
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $2.1B | — |
股东权益ATITNET
| Q4 25 | $1.8B | $54.0M | ||
| Q3 25 | $1.7B | $110.0M | ||
| Q2 25 | $1.7B | $107.0M | ||
| Q1 25 | $1.9B | $63.0M | ||
| Q4 24 | $1.9B | $69.0M | ||
| Q3 24 | $1.8B | $129.0M | ||
| Q2 24 | $1.4B | $100.0M | ||
| Q1 24 | $1.3B | $143.0M |
总资产ATITNET
| Q4 25 | $5.1B | $3.8B | ||
| Q3 25 | $5.0B | $3.4B | ||
| Q2 25 | $5.0B | $3.7B | ||
| Q1 25 | $5.2B | $3.8B | ||
| Q4 24 | $5.2B | $4.1B | ||
| Q3 24 | $5.1B | $3.7B | ||
| Q2 24 | $4.9B | $3.7B | ||
| Q1 24 | $4.8B | $4.0B |
负债/权益比ATITNET
| Q4 25 | 0.95× | — | ||
| Q3 25 | 1.00× | — | ||
| Q2 25 | 0.98× | — | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | 0.93× | — | ||
| Q3 24 | 1.04× | — | ||
| Q2 24 | 1.37× | — | ||
| Q1 24 | 1.70× | — |
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 | $315.8M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $223.1M | $43.0M |
| 自由现金流率自由现金流/营收 | 19.0% | 3.4% |
| 资本支出强度资本支出/营收 | 7.9% | 1.4% |
| 现金转化率经营现金流/净利润 | 3.27× | — |
| 过去12个月自由现金流最近4个季度 | $333.7M | $234.0M |
8季度趋势，按日历期对齐
经营现金流ATITNET
| Q4 25 | $315.8M | $61.0M | ||
| Q3 25 | $229.5M | $72.0M | ||
| Q2 25 | $161.5M | $75.0M | ||
| Q1 25 | $-92.5M | $95.0M | ||
| Q4 24 | $380.9M | $65.0M | ||
| Q3 24 | $24.0M | $84.0M | ||
| Q2 24 | $101.1M | $39.0M | ||
| Q1 24 | $-98.8M | $91.0M |
自由现金流ATITNET
| Q4 25 | $223.1M | $43.0M | ||
| Q3 25 | $167.0M | $55.0M | ||
| Q2 25 | $89.4M | $57.0M | ||
| Q1 25 | $-145.8M | $79.0M | ||
| Q4 24 | $333.6M | $47.0M | ||
| Q3 24 | $-41.8M | $59.0M | ||
| Q2 24 | $40.9M | $22.0M | ||
| Q1 24 | $-164.6M | $73.0M |
自由现金流率ATITNET
| Q4 25 | 19.0% | 3.4% | ||
| Q3 25 | 14.8% | 4.5% | ||
| Q2 25 | 7.8% | 4.6% | ||
| Q1 25 | -12.7% | 6.1% | ||
| Q4 24 | 28.4% | 3.7% | ||
| Q3 24 | -4.0% | 4.8% | ||
| Q2 24 | 3.7% | 1.8% | ||
| Q1 24 | -15.8% | 5.8% |
资本支出强度ATITNET
| Q4 25 | 7.9% | 1.4% | ||
| Q3 25 | 5.6% | 1.4% | ||
| Q2 25 | 6.3% | 1.5% | ||
| Q1 25 | 4.7% | 1.2% | ||
| Q4 24 | 4.0% | 1.4% | ||
| Q3 24 | 6.3% | 2.0% | ||
| Q2 24 | 5.5% | 1.4% | ||
| Q1 24 | 6.3% | 1.4% |
现金转化率ATITNET
| Q4 25 | 3.27× | — | ||
| Q3 25 | 2.09× | 2.12× | ||
| Q2 25 | 1.60× | 2.03× | ||
| Q1 25 | -0.95× | 1.12× | ||
| Q4 24 | 2.78× | — | ||
| Q3 24 | 0.29× | 1.87× | ||
| Q2 24 | 1.23× | 0.65× | ||
| Q1 24 | -1.49× | 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
ATI
| Other | $527.1M | 45% |
| Advanced Alloys Solutions | $333.5M | 28% |
| Airframes Commercial | $82.0M | 7% |
| Defense | $73.7M | 6% |
| Electronics Market | $53.1M | 5% |
| Internal Customers | $50.9M | 4% |
| Specialty Energy | $29.3M | 2% |
| Medical Market | $12.2M | 1% |
| Construction Mining Market | $7.2M | 1% |
| Other Market | $5.6M | 0% |
| Conventional Energy | $1.9M | 0% |
| Automotive Market | $600.0K | 0% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
