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BGC Group, Inc.（BGC）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BGC Group, Inc.的2.0倍（$1.2B vs $638.6M），BGC Group, Inc.同比增速更快（34.4% vs -2.2%），BGC Group, Inc.自由现金流更多（$175.1M vs $43.0M），过去两年BGC Group, Inc.的营收复合增速更高（18.7% vs -0.6%）
BGC集团是一家总部位于纽约和伦敦的美国全球性金融服务企业，最初隶属于康托·菲茨杰拉德集团，2004年正式独立运营，业务范围覆盖全球金融市场相关服务领域。
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。
BGC vs TNET — 直观对比
营收规模更大
TNET
是对方的2.0倍
$638.6M
营收增速更快
BGC
高出36.6%
-2.2%
自由现金流更多
BGC
多$132.1M
$43.0M
两年增速更快
BGC
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $638.6M | $1.2B |
| 净利润 | $14.4M | — |
| 毛利率 | — | — |
| 营业利润率 | 3.9% | 0.1% |
| 净利率 | 2.3% | — |
| 营收同比 | 34.4% | -2.2% |
| 净利润同比 | -43.0% | — |
| 每股收益（稀释后） | $0.03 | $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BGCTNET
| Q4 25 | $638.6M | $1.2B | ||
| Q3 25 | $620.8M | $1.2B | ||
| Q2 25 | $648.0M | $1.2B | ||
| Q1 25 | $534.6M | $1.3B | ||
| Q4 24 | $475.2M | $1.3B | ||
| Q3 24 | $448.9M | $1.2B | ||
| Q2 24 | $435.0M | $1.2B | ||
| Q1 24 | $453.6M | $1.3B |
净利润BGCTNET
| Q4 25 | $14.4M | — | ||
| Q3 25 | $27.9M | $34.0M | ||
| Q2 25 | $57.5M | $37.0M | ||
| Q1 25 | $55.2M | $85.0M | ||
| Q4 24 | $25.2M | — | ||
| Q3 24 | $14.7M | $45.0M | ||
| Q2 24 | $37.8M | $60.0M | ||
| Q1 24 | $49.2M | $91.0M |
营业利润率BGCTNET
| Q4 25 | 3.9% | 0.1% | ||
| Q3 25 | 5.4% | 4.1% | ||
| Q2 25 | 11.6% | 4.1% | ||
| Q1 25 | 15.0% | 8.9% | ||
| Q4 24 | 5.7% | -2.9% | ||
| Q3 24 | 4.4% | 4.7% | ||
| Q2 24 | 12.7% | 6.5% | ||
| Q1 24 | 15.7% | 9.7% |
净利率BGCTNET
| Q4 25 | 2.3% | — | ||
| Q3 25 | 4.5% | 2.8% | ||
| Q2 25 | 8.9% | 3.0% | ||
| Q1 25 | 10.3% | 6.6% | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 3.3% | 3.6% | ||
| Q2 24 | 8.7% | 4.9% | ||
| Q1 24 | 10.8% | 7.2% |
每股收益（稀释后）BGCTNET
| Q4 25 | $0.03 | $0.02 | ||
| Q3 25 | $0.06 | $0.70 | ||
| Q2 25 | $0.11 | $0.77 | ||
| Q1 25 | $0.11 | $1.71 | ||
| Q4 24 | $0.04 | $-0.44 | ||
| Q3 24 | $0.03 | $0.89 | ||
| Q2 24 | $0.08 | $1.20 | ||
| Q1 24 | $0.10 | $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 | $851.5M | $287.0M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $972.5M | $54.0M |
| 总资产 | $4.4B | $3.8B |
| 负债/权益比越低杠杆越低 | 1.58× | — |
8季度趋势，按日历期对齐
现金及短期投资BGCTNET
| Q4 25 | $851.5M | $287.0M | ||
| Q3 25 | $774.9M | $321.0M | ||
| Q2 25 | $827.8M | $407.0M | ||
| Q1 25 | $966.4M | $349.0M | ||
| Q4 24 | $711.6M | $360.0M | ||
| Q3 24 | $563.5M | $301.0M | ||
| Q2 24 | $571.7M | $249.0M | ||
| Q1 24 | $566.8M | $383.0M |
总债务BGCTNET
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $945.0M | — |
股东权益BGCTNET
| Q4 25 | $972.5M | $54.0M | ||
| Q3 25 | $965.3M | $110.0M | ||
| Q2 25 | $930.5M | $107.0M | ||
| Q1 25 | $963.8M | $63.0M | ||
| Q4 24 | $898.5M | $69.0M | ||
| Q3 24 | $860.1M | $129.0M | ||
| Q2 24 | $858.1M | $100.0M | ||
| Q1 24 | $912.1M | $143.0M |
总资产BGCTNET
| Q4 25 | $4.4B | $3.8B | ||
| Q3 25 | $5.8B | $3.4B | ||
| Q2 25 | $4.9B | $3.7B | ||
| Q1 25 | $4.9B | $3.8B | ||
| Q4 24 | $3.6B | $4.1B | ||
| Q3 24 | $4.4B | $3.7B | ||
| Q2 24 | $4.3B | $3.7B | ||
| Q1 24 | $4.4B | $4.0B |
负债/权益比BGCTNET
| Q4 25 | 1.58× | — | ||
| Q3 25 | 1.90× | — | ||
| Q2 25 | 1.97× | — | ||
| Q1 25 | 1.19× | — | ||
| Q4 24 | 1.27× | — | ||
| Q3 24 | 1.68× | — | ||
| Q2 24 | 1.68× | — | ||
| Q1 24 | 1.04× | — |
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 | $180.4M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $175.1M | $43.0M |
| 自由现金流率自由现金流/营收 | 27.4% | 3.4% |
| 资本支出强度资本支出/营收 | 0.8% | 1.4% |
| 现金转化率经营现金流/净利润 | 12.55× | — |
| 过去12个月自由现金流最近4个季度 | $372.9M | $234.0M |
8季度趋势，按日历期对齐
经营现金流BGCTNET
| Q4 25 | $180.4M | $61.0M | ||
| Q3 25 | $141.9M | $72.0M | ||
| Q2 25 | $71.2M | $75.0M | ||
| Q1 25 | $839.0K | $95.0M | ||
| Q4 24 | $251.9M | $65.0M | ||
| Q3 24 | $88.3M | $84.0M | ||
| Q2 24 | $-53.0M | $39.0M | ||
| Q1 24 | $28.1M | $91.0M |
自由现金流BGCTNET
| Q4 25 | $175.1M | $43.0M | ||
| Q3 25 | $137.2M | $55.0M | ||
| Q2 25 | $65.0M | $57.0M | ||
| Q1 25 | $-4.4M | $79.0M | ||
| Q4 24 | $245.6M | $47.0M | ||
| Q3 24 | $78.8M | $59.0M | ||
| Q2 24 | $-63.5M | $22.0M | ||
| Q1 24 | $24.9M | $73.0M |
自由现金流率BGCTNET
| Q4 25 | 27.4% | 3.4% | ||
| Q3 25 | 22.1% | 4.5% | ||
| Q2 25 | 10.0% | 4.6% | ||
| Q1 25 | -0.8% | 6.1% | ||
| Q4 24 | 51.7% | 3.7% | ||
| Q3 24 | 17.5% | 4.8% | ||
| Q2 24 | -14.6% | 1.8% | ||
| Q1 24 | 5.5% | 5.8% |
资本支出强度BGCTNET
| Q4 25 | 0.8% | 1.4% | ||
| Q3 25 | 0.8% | 1.4% | ||
| Q2 25 | 1.0% | 1.5% | ||
| Q1 25 | 1.0% | 1.2% | ||
| Q4 24 | 1.3% | 1.4% | ||
| Q3 24 | 2.1% | 2.0% | ||
| Q2 24 | 2.4% | 1.4% | ||
| Q1 24 | 0.7% | 1.4% |
现金转化率BGCTNET
| Q4 25 | 12.55× | — | ||
| Q3 25 | 5.09× | 2.12× | ||
| Q2 25 | 1.24× | 2.03× | ||
| Q1 25 | 0.02× | 1.12× | ||
| Q4 24 | 9.99× | — | ||
| Q3 24 | 5.99× | 1.87× | ||
| Q2 24 | -1.40× | 0.65× | ||
| Q1 24 | 0.57× | 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
BGC
| Commissions | $590.2M | 92% |
| Data Software And Post Trade | $36.7M | 6% |
| Fees From Related Parties | $4.6M | 1% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
