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百通（BDC）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.的季度营收约是百通的1.8倍（$1.2B vs $696.4M），百通同比增速更快（11.4% vs -2.2%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $-63.1M），过去两年百通的营收复合增速更高（7.3% vs -0.6%）
百通公司是美国上市跨国企业，专注于端到端网络、安全及连接产品的设计、生产与销售，业务覆盖工业自动化解决方案、智能建筑、宽带及5G三大核心领域，为各行业客户提供可靠的通信连接相关产品与服务。
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。
BDC vs TNET — 直观对比
营收规模更大
TNET
是对方的1.8倍
$696.4M
营收增速更快
BDC
高出13.6%
-2.2%
自由现金流更多
TNET
多$106.1M
$-63.1M
两年增速更快
BDC
近两年复合增速
-0.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $696.4M | $1.2B |
| 净利润 | $51.0M | — |
| 毛利率 | 37.1% | — |
| 营业利润率 | 11.2% | 0.1% |
| 净利率 | 7.3% | — |
| 营收同比 | 11.4% | -2.2% |
| 净利润同比 | -1.8% | — |
| 每股收益（稀释后） | $1.30 | $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BDCTNET
| Q1 26 | $696.4M | — | ||
| Q4 25 | $720.1M | $1.2B | ||
| Q3 25 | $698.2M | $1.2B | ||
| Q2 25 | $672.0M | $1.2B | ||
| Q1 25 | $624.9M | $1.3B | ||
| Q4 24 | $666.0M | $1.3B | ||
| Q3 24 | $654.9M | $1.2B | ||
| Q2 24 | $604.3M | $1.2B |
净利润BDCTNET
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | — | ||
| Q3 25 | $56.7M | $34.0M | ||
| Q2 25 | $61.0M | $37.0M | ||
| Q1 25 | $51.9M | $85.0M | ||
| Q4 24 | $58.4M | — | ||
| Q3 24 | $53.7M | $45.0M | ||
| Q2 24 | $49.0M | $60.0M |
毛利率BDCTNET
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 38.5% | — | ||
| Q1 25 | 39.3% | — | ||
| Q4 24 | 37.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 37.5% | — |
营业利润率BDCTNET
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | 0.1% | ||
| Q3 25 | 10.9% | 4.1% | ||
| Q2 25 | 11.8% | 4.1% | ||
| Q1 25 | 11.6% | 8.9% | ||
| Q4 24 | 10.4% | -2.9% | ||
| Q3 24 | 11.5% | 4.7% | ||
| Q2 24 | 11.4% | 6.5% |
净利率BDCTNET
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | — | ||
| Q3 25 | 8.1% | 2.8% | ||
| Q2 25 | 9.1% | 3.0% | ||
| Q1 25 | 8.3% | 6.6% | ||
| Q4 24 | 8.8% | — | ||
| Q3 24 | 8.2% | 3.6% | ||
| Q2 24 | 8.1% | 4.9% |
每股收益（稀释后）BDCTNET
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | $0.02 | ||
| Q3 25 | $1.41 | $0.70 | ||
| Q2 25 | $1.53 | $0.77 | ||
| Q1 25 | $1.27 | $1.71 | ||
| Q4 24 | $1.41 | $-0.44 | ||
| Q3 24 | $1.30 | $0.89 | ||
| Q2 24 | $1.19 | $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 | $272.2M | $287.0M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $1.3B | $54.0M |
| 总资产 | — | $3.8B |
| 负债/权益比越低杠杆越低 | 0.98× | — |
8季度趋势，按日历期对齐
现金及短期投资BDCTNET
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | $287.0M | ||
| Q3 25 | $314.3M | $321.0M | ||
| Q2 25 | $301.5M | $407.0M | ||
| Q1 25 | $259.0M | $349.0M | ||
| Q4 24 | $370.3M | $360.0M | ||
| Q3 24 | $323.0M | $301.0M | ||
| Q2 24 | $564.8M | $249.0M |
总债务BDCTNET
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益BDCTNET
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $54.0M | ||
| Q3 25 | $1.2B | $110.0M | ||
| Q2 25 | $1.2B | $107.0M | ||
| Q1 25 | $1.2B | $63.0M | ||
| Q4 24 | $1.3B | $69.0M | ||
| Q3 24 | $1.2B | $129.0M | ||
| Q2 24 | $1.2B | $100.0M |
总资产BDCTNET
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $3.8B | ||
| Q3 25 | $3.4B | $3.4B | ||
| Q2 25 | $3.4B | $3.7B | ||
| Q1 25 | $3.3B | $3.8B | ||
| Q4 24 | $3.3B | $4.1B | ||
| Q3 24 | $3.3B | $3.7B | ||
| Q2 24 | $3.5B | $3.7B |
负债/权益比BDCTNET
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $-63.1M | $43.0M |
| 自由现金流率自由现金流/营收 | -9.1% | 3.4% |
| 资本支出强度资本支出/营收 | 6.4% | 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 | $180.4M | $234.0M |
8季度趋势，按日历期对齐
经营现金流BDCTNET
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $61.0M | ||
| Q3 25 | $105.0M | $72.0M | ||
| Q2 25 | $82.0M | $75.0M | ||
| Q1 25 | $7.4M | $95.0M | ||
| Q4 24 | $174.7M | $65.0M | ||
| Q3 24 | $91.7M | $84.0M | ||
| Q2 24 | $83.0M | $39.0M |
自由现金流BDCTNET
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | $43.0M | ||
| Q3 25 | $65.3M | $55.0M | ||
| Q2 25 | $56.9M | $57.0M | ||
| Q1 25 | $-24.8M | $79.0M | ||
| Q4 24 | $116.4M | $47.0M | ||
| Q3 24 | $67.2M | $59.0M | ||
| Q2 24 | $61.0M | $22.0M |
自由现金流率BDCTNET
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | 3.4% | ||
| Q3 25 | 9.4% | 4.5% | ||
| Q2 25 | 8.5% | 4.6% | ||
| Q1 25 | -4.0% | 6.1% | ||
| Q4 24 | 17.5% | 3.7% | ||
| Q3 24 | 10.3% | 4.8% | ||
| Q2 24 | 10.1% | 1.8% |
资本支出强度BDCTNET
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 1.4% | ||
| Q3 25 | 5.7% | 1.4% | ||
| Q2 25 | 3.7% | 1.5% | ||
| Q1 25 | 5.2% | 1.2% | ||
| Q4 24 | 8.8% | 1.4% | ||
| Q3 24 | 3.7% | 2.0% | ||
| Q2 24 | 3.6% | 1.4% |
现金转化率BDCTNET
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | — | ||
| Q3 25 | 1.85× | 2.12× | ||
| Q2 25 | 1.34× | 2.03× | ||
| Q1 25 | 0.14× | 1.12× | ||
| Q4 24 | 2.99× | — | ||
| Q3 24 | 1.71× | 1.87× | ||
| Q2 24 | 1.69× | 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
BDC
暂无分部数据
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
