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艾仕得（AXTA）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
艾仕得的季度营收约是TRINET GROUP, INC.的1.0倍（$1.3B vs $1.2B），TRINET GROUP, INC.同比增速更快（-2.2% vs -3.7%），艾仕得自由现金流更多（$286.0M vs $43.0M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -1.2%）
艾仕得是源自美国的专业涂料供应商，总部位于宾夕法尼亚州费城，注册地为百慕大。公司主营乘用车、商用车、工业场景及修补用途涂料的研发与生产，业务覆盖全球130个国家，拥有近1.3万名员工，服务超10万家客户。
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。
AXTA vs TNET — 直观对比
营收规模更大
AXTA
是对方的1.0倍
$1.2B
营收增速更快
TNET
高出1.5%
-3.7%
自由现金流更多
AXTA
多$243.0M
$43.0M
两年增速更快
TNET
近两年复合增速
-1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.2B |
| 净利润 | $60.0M | — |
| 毛利率 | 33.4% | — |
| 营业利润率 | 12.8% | 0.1% |
| 净利率 | 4.8% | — |
| 营收同比 | -3.7% | -2.2% |
| 净利润同比 | -56.2% | — |
| 每股收益（稀释后） | $0.28 | $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AXTATNET
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.3B | $1.3B |
净利润AXTATNET
| Q4 25 | $60.0M | — | ||
| Q3 25 | $110.0M | $34.0M | ||
| Q2 25 | $109.0M | $37.0M | ||
| Q1 25 | $99.0M | $85.0M | ||
| Q4 24 | $137.0M | — | ||
| Q3 24 | $101.0M | $45.0M | ||
| Q2 24 | $112.0M | $60.0M | ||
| Q1 24 | $41.0M | $91.0M |
毛利率AXTATNET
| Q4 25 | 33.4% | — | ||
| Q3 25 | 34.9% | — | ||
| Q2 25 | 35.0% | — | ||
| Q1 25 | 34.3% | — | ||
| Q4 24 | 34.1% | — | ||
| Q3 24 | 35.0% | — | ||
| Q2 24 | 34.0% | — | ||
| Q1 24 | 33.2% | — |
营业利润率AXTATNET
| Q4 25 | 12.8% | 0.1% | ||
| Q3 25 | 15.8% | 4.1% | ||
| Q2 25 | 14.8% | 4.1% | ||
| Q1 25 | 13.9% | 8.9% | ||
| Q4 24 | 14.3% | -2.9% | ||
| Q3 24 | 14.6% | 4.7% | ||
| Q2 24 | 15.2% | 6.5% | ||
| Q1 24 | 9.4% | 9.7% |
净利率AXTATNET
| Q4 25 | 4.8% | — | ||
| Q3 25 | 8.5% | 2.8% | ||
| Q2 25 | 8.4% | 3.0% | ||
| Q1 25 | 7.8% | 6.6% | ||
| Q4 24 | 10.5% | — | ||
| Q3 24 | 7.7% | 3.6% | ||
| Q2 24 | 8.3% | 4.9% | ||
| Q1 24 | 3.2% | 7.2% |
每股收益（稀释后）AXTATNET
| Q4 25 | $0.28 | $0.02 | ||
| Q3 25 | $0.51 | $0.70 | ||
| Q2 25 | $0.50 | $0.77 | ||
| Q1 25 | $0.45 | $1.71 | ||
| Q4 24 | $0.63 | $-0.44 | ||
| Q3 24 | $0.46 | $0.89 | ||
| Q2 24 | $0.51 | $1.20 | ||
| Q1 24 | $0.18 | $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 | $657.0M | $287.0M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.3B | $54.0M |
| 总资产 | $7.6B | $3.8B |
| 负债/权益比越低杠杆越低 | 1.36× | — |
8季度趋势，按日历期对齐
现金及短期投资AXTATNET
| Q4 25 | $657.0M | $287.0M | ||
| Q3 25 | $606.0M | $321.0M | ||
| Q2 25 | $625.0M | $407.0M | ||
| Q1 25 | $575.0M | $349.0M | ||
| Q4 24 | $593.0M | $360.0M | ||
| Q3 24 | $567.0M | $301.0M | ||
| Q2 24 | $840.0M | $249.0M | ||
| Q1 24 | $624.0M | $383.0M |
总债务AXTATNET
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.4B | — | ||
| Q2 25 | $3.4B | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | $3.5B | — | ||
| Q2 24 | $3.6B | — | ||
| Q1 24 | $3.4B | — |
股东权益AXTATNET
| Q4 25 | $2.3B | $54.0M | ||
| Q3 25 | $2.3B | $110.0M | ||
| Q2 25 | $2.3B | $107.0M | ||
| Q1 25 | $2.1B | $63.0M | ||
| Q4 24 | $1.9B | $69.0M | ||
| Q3 24 | $1.9B | $129.0M | ||
| Q2 24 | $1.8B | $100.0M | ||
| Q1 24 | $1.7B | $143.0M |
总资产AXTATNET
| Q4 25 | $7.6B | $3.8B | ||
| Q3 25 | $7.8B | $3.4B | ||
| Q2 25 | $7.8B | $3.7B | ||
| Q1 25 | $7.4B | $3.8B | ||
| Q4 24 | $7.2B | $4.1B | ||
| Q3 24 | $7.5B | $3.7B | ||
| Q2 24 | $7.3B | $3.7B | ||
| Q1 24 | $7.1B | $4.0B |
负债/权益比AXTATNET
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.48× | — | ||
| Q2 25 | 1.50× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.78× | — | ||
| Q3 24 | 1.84× | — | ||
| Q2 24 | 2.02× | — | ||
| Q1 24 | 1.97× | — |
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 | $344.0M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $286.0M | $43.0M |
| 自由现金流率自由现金流/营收 | 22.7% | 3.4% |
| 资本支出强度资本支出/营收 | 4.6% | 1.4% |
| 现金转化率经营现金流/净利润 | 5.73× | — |
| 过去12个月自由现金流最近4个季度 | $453.0M | $234.0M |
8季度趋势，按日历期对齐
经营现金流AXTATNET
| Q4 25 | $344.0M | $61.0M | ||
| Q3 25 | $137.0M | $72.0M | ||
| Q2 25 | $142.0M | $75.0M | ||
| Q1 25 | $26.0M | $95.0M | ||
| Q4 24 | $234.0M | $65.0M | ||
| Q3 24 | $194.0M | $84.0M | ||
| Q2 24 | $114.0M | $39.0M | ||
| Q1 24 | $34.0M | $91.0M |
自由现金流AXTATNET
| Q4 25 | $286.0M | $43.0M | ||
| Q3 25 | $87.0M | $55.0M | ||
| Q2 25 | $97.0M | $57.0M | ||
| Q1 25 | $-17.0M | $79.0M | ||
| Q4 24 | $172.0M | $47.0M | ||
| Q3 24 | $161.0M | $59.0M | ||
| Q2 24 | $91.0M | $22.0M | ||
| Q1 24 | $12.0M | $73.0M |
自由现金流率AXTATNET
| Q4 25 | 22.7% | 3.4% | ||
| Q3 25 | 6.8% | 4.5% | ||
| Q2 25 | 7.4% | 4.6% | ||
| Q1 25 | -1.3% | 6.1% | ||
| Q4 24 | 13.1% | 3.7% | ||
| Q3 24 | 12.2% | 4.8% | ||
| Q2 24 | 6.7% | 1.8% | ||
| Q1 24 | 0.9% | 5.8% |
资本支出强度AXTATNET
| Q4 25 | 4.6% | 1.4% | ||
| Q3 25 | 3.9% | 1.4% | ||
| Q2 25 | 3.4% | 1.5% | ||
| Q1 25 | 3.4% | 1.2% | ||
| Q4 24 | 4.7% | 1.4% | ||
| Q3 24 | 2.5% | 2.0% | ||
| Q2 24 | 1.7% | 1.4% | ||
| Q1 24 | 1.7% | 1.4% |
现金转化率AXTATNET
| Q4 25 | 5.73× | — | ||
| Q3 25 | 1.25× | 2.12× | ||
| Q2 25 | 1.30× | 2.03× | ||
| Q1 25 | 0.26× | 1.12× | ||
| Q4 24 | 1.71× | — | ||
| Q3 24 | 1.92× | 1.87× | ||
| Q2 24 | 1.02× | 0.65× | ||
| Q1 24 | 0.83× | 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
AXTA
| Refinish | $509.0M | 40% |
| Light Vehicle | $372.0M | 29% |
| Industrial | $282.0M | 22% |
| Commercial Vehicle | $99.0M | 8% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
