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阿普塔集团（ATR）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.的季度营收约是阿普塔集团的1.3倍（$1.2B vs $962.7M），阿普塔集团同比增速更快（13.5% vs -2.2%），阿普塔集团自由现金流更多（$96.9M vs $43.0M），过去两年阿普塔集团的营收复合增速更高（2.6% vs -0.6%）
阿普塔集团（AptarGroup, Inc.）是总部位于美国的全球性制造企业，主营消费品分配包装产品及药物给药装置的研发与生产，目前在全球18个国家设有生产运营基地，服务医药、快消等多领域客户。
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。
ATR vs TNET — 直观对比
营收规模更大
TNET
是对方的1.3倍
$962.7M
营收增速更快
ATR
高出15.7%
-2.2%
自由现金流更多
ATR
多$53.9M
$43.0M
两年增速更快
ATR
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $962.7M | $1.2B |
| 净利润 | $74.3M | — |
| 毛利率 | — | — |
| 营业利润率 | 11.0% | 0.1% |
| 净利率 | 7.7% | — |
| 营收同比 | 13.5% | -2.2% |
| 净利润同比 | -26.4% | — |
| 每股收益（稀释后） | $1.13 | $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ATRTNET
| Q4 25 | $962.7M | $1.2B | ||
| Q3 25 | $961.1M | $1.2B | ||
| Q2 25 | $966.0M | $1.2B | ||
| Q1 25 | $887.3M | $1.3B | ||
| Q4 24 | $848.1M | $1.3B | ||
| Q3 24 | $909.3M | $1.2B | ||
| Q2 24 | $910.1M | $1.2B | ||
| Q1 24 | $915.4M | $1.3B |
净利润ATRTNET
| Q4 25 | $74.3M | — | ||
| Q3 25 | $127.9M | $34.0M | ||
| Q2 25 | $111.7M | $37.0M | ||
| Q1 25 | $78.8M | $85.0M | ||
| Q4 24 | $100.9M | — | ||
| Q3 24 | $100.0M | $45.0M | ||
| Q2 24 | $90.5M | $60.0M | ||
| Q1 24 | $83.1M | $91.0M |
营业利润率ATRTNET
| Q4 25 | 11.0% | 0.1% | ||
| Q3 25 | 14.2% | 4.1% | ||
| Q2 25 | 14.9% | 4.1% | ||
| Q1 25 | 12.8% | 8.9% | ||
| Q4 24 | 14.2% | -2.9% | ||
| Q3 24 | 15.2% | 4.7% | ||
| Q2 24 | 13.8% | 6.5% | ||
| Q1 24 | 12.2% | 9.7% |
净利率ATRTNET
| Q4 25 | 7.7% | — | ||
| Q3 25 | 13.3% | 2.8% | ||
| Q2 25 | 11.6% | 3.0% | ||
| Q1 25 | 8.9% | 6.6% | ||
| Q4 24 | 11.9% | — | ||
| Q3 24 | 11.0% | 3.6% | ||
| Q2 24 | 9.9% | 4.9% | ||
| Q1 24 | 9.1% | 7.2% |
每股收益（稀释后）ATRTNET
| Q4 25 | $1.13 | $0.02 | ||
| Q3 25 | $1.92 | $0.70 | ||
| Q2 25 | $1.67 | $0.77 | ||
| Q1 25 | $1.17 | $1.71 | ||
| Q4 24 | $1.48 | $-0.44 | ||
| Q3 24 | $1.48 | $0.89 | ||
| Q2 24 | $1.34 | $1.20 | ||
| Q1 24 | $1.23 | $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 | $409.5M | $287.0M |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $2.7B | $54.0M |
| 总资产 | $5.3B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资ATRTNET
| Q4 25 | $409.5M | $287.0M | ||
| Q3 25 | $264.8M | $321.0M | ||
| Q2 25 | $169.8M | $407.0M | ||
| Q1 25 | $136.8M | $349.0M | ||
| Q4 24 | $226.2M | $360.0M | ||
| Q3 24 | $327.9M | $301.0M | ||
| Q2 24 | $223.9M | $249.0M | ||
| Q1 24 | $201.1M | $383.0M |
总债务ATRTNET
| Q4 25 | $1.1B | — | ||
| Q3 25 | $546.0M | — | ||
| Q2 25 | $535.1M | — | ||
| Q1 25 | $561.2M | — | ||
| Q4 24 | $688.1M | — | ||
| Q3 24 | $822.7M | — | ||
| Q2 24 | $681.5M | — | ||
| Q1 24 | $680.4M | — |
股东权益ATRTNET
| Q4 25 | $2.7B | $54.0M | ||
| Q3 25 | $2.8B | $110.0M | ||
| Q2 25 | $2.7B | $107.0M | ||
| Q1 25 | $2.5B | $63.0M | ||
| Q4 24 | $2.5B | $69.0M | ||
| Q3 24 | $2.5B | $129.0M | ||
| Q2 24 | $2.4B | $100.0M | ||
| Q1 24 | $2.3B | $143.0M |
总资产ATRTNET
| Q4 25 | $5.3B | $3.8B | ||
| Q3 25 | $5.1B | $3.4B | ||
| Q2 25 | $4.9B | $3.7B | ||
| Q1 25 | $4.5B | $3.8B | ||
| Q4 24 | $4.4B | $4.1B | ||
| Q3 24 | $4.6B | $3.7B | ||
| Q2 24 | $4.5B | $3.7B | ||
| Q1 24 | $4.4B | $4.0B |
负债/权益比ATRTNET
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.28× | — | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.28× | — | ||
| Q1 24 | 0.29× | — |
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 | $183.7M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $96.9M | $43.0M |
| 自由现金流率自由现金流/营收 | 10.1% | 3.4% |
| 资本支出强度资本支出/营收 | 9.0% | 1.4% |
| 现金转化率经营现金流/净利润 | 2.47× | — |
| 过去12个月自由现金流最近4个季度 | $299.6M | $234.0M |
8季度趋势，按日历期对齐
经营现金流ATRTNET
| Q4 25 | $183.7M | $61.0M | ||
| Q3 25 | $177.6M | $72.0M | ||
| Q2 25 | $126.0M | $75.0M | ||
| Q1 25 | $82.7M | $95.0M | ||
| Q4 24 | $178.2M | $65.0M | ||
| Q3 24 | $229.3M | $84.0M | ||
| Q2 24 | $143.6M | $39.0M | ||
| Q1 24 | $92.3M | $91.0M |
自由现金流ATRTNET
| Q4 25 | $96.9M | $43.0M | ||
| Q3 25 | $114.3M | $55.0M | ||
| Q2 25 | $62.5M | $57.0M | ||
| Q1 25 | $25.9M | $79.0M | ||
| Q4 24 | $112.2M | $47.0M | ||
| Q3 24 | $162.7M | $59.0M | ||
| Q2 24 | $75.4M | $22.0M | ||
| Q1 24 | $16.7M | $73.0M |
自由现金流率ATRTNET
| Q4 25 | 10.1% | 3.4% | ||
| Q3 25 | 11.9% | 4.5% | ||
| Q2 25 | 6.5% | 4.6% | ||
| Q1 25 | 2.9% | 6.1% | ||
| Q4 24 | 13.2% | 3.7% | ||
| Q3 24 | 17.9% | 4.8% | ||
| Q2 24 | 8.3% | 1.8% | ||
| Q1 24 | 1.8% | 5.8% |
资本支出强度ATRTNET
| Q4 25 | 9.0% | 1.4% | ||
| Q3 25 | 6.6% | 1.4% | ||
| Q2 25 | 6.6% | 1.5% | ||
| Q1 25 | 6.4% | 1.2% | ||
| Q4 24 | 7.8% | 1.4% | ||
| Q3 24 | 7.3% | 2.0% | ||
| Q2 24 | 7.5% | 1.4% | ||
| Q1 24 | 8.3% | 1.4% |
现金转化率ATRTNET
| Q4 25 | 2.47× | — | ||
| Q3 25 | 1.39× | 2.12× | ||
| Q2 25 | 1.13× | 2.03× | ||
| Q1 25 | 1.05× | 1.12× | ||
| Q4 24 | 1.77× | — | ||
| Q3 24 | 2.29× | 1.87× | ||
| Q2 24 | 1.59× | 0.65× | ||
| Q1 24 | 1.11× | 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
ATR
| Pharma Segment | $833.1M | 87% |
| Other | $129.6M | 13% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
