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BlueLinx Holdings Inc.（BXC）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BlueLinx Holdings Inc.的1.7倍（$1.2B vs $748.9M），BlueLinx Holdings Inc.同比增速更快（0.2% vs -2.2%），BlueLinx Holdings Inc.自由现金流更多（$52.7M vs $43.0M），过去两年BlueLinx Holdings Inc.的营收复合增速更高（2.5% vs -0.6%）
BlueLinx Holdings Inc.是美国经营建材与工业产品的批发分销商，总部位于佐治亚州亚特兰大，目前由Shyam Reddy担任公司总裁兼首席执行官，在美国本土相关分销领域开展业务
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。
BXC vs TNET — 直观对比
营收规模更大
TNET
是对方的1.7倍
$748.9M
营收增速更快
BXC
高出2.4%
-2.2%
自由现金流更多
BXC
多$9.7M
$43.0M
两年增速更快
BXC
近两年复合增速
-0.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $748.9M | $1.2B |
| 净利润 | $1.7M | — |
| 毛利率 | 14.4% | — |
| 营业利润率 | 1.3% | 0.1% |
| 净利率 | 0.2% | — |
| 营收同比 | 0.2% | -2.2% |
| 净利润同比 | -89.7% | — |
| 每股收益（稀释后） | $0.20 | $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BXCTNET
| Q4 25 | — | $1.2B | ||
| Q3 25 | $748.9M | $1.2B | ||
| Q2 25 | $780.1M | $1.2B | ||
| Q1 25 | $709.2M | $1.3B | ||
| Q4 24 | $710.6M | $1.3B | ||
| Q3 24 | $747.3M | $1.2B | ||
| Q2 24 | $768.4M | $1.2B | ||
| Q1 24 | $726.2M | $1.3B |
净利润BXCTNET
| Q4 25 | — | — | ||
| Q3 25 | $1.7M | $34.0M | ||
| Q2 25 | $4.3M | $37.0M | ||
| Q1 25 | $2.8M | $85.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $16.0M | $45.0M | ||
| Q2 24 | $14.3M | $60.0M | ||
| Q1 24 | $17.5M | $91.0M |
毛利率BXCTNET
| Q4 25 | — | — | ||
| Q3 25 | 14.4% | — | ||
| Q2 25 | 15.3% | — | ||
| Q1 25 | 15.7% | — | ||
| Q4 24 | 15.9% | — | ||
| Q3 24 | 16.8% | — | ||
| Q2 24 | 15.9% | — | ||
| Q1 24 | 17.6% | — |
营业利润率BXCTNET
| Q4 25 | — | 0.1% | ||
| Q3 25 | 1.3% | 4.1% | ||
| Q2 25 | 1.9% | 4.1% | ||
| Q1 25 | 1.5% | 8.9% | ||
| Q4 24 | 1.7% | -2.9% | ||
| Q3 24 | 3.2% | 4.7% | ||
| Q2 24 | 3.1% | 6.5% | ||
| Q1 24 | 3.8% | 9.7% |
净利率BXCTNET
| Q4 25 | — | — | ||
| Q3 25 | 0.2% | 2.8% | ||
| Q2 25 | 0.6% | 3.0% | ||
| Q1 25 | 0.4% | 6.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.1% | 3.6% | ||
| Q2 24 | 1.9% | 4.9% | ||
| Q1 24 | 2.4% | 7.2% |
每股收益（稀释后）BXCTNET
| Q4 25 | — | $0.02 | ||
| Q3 25 | $0.20 | $0.70 | ||
| Q2 25 | $0.54 | $0.77 | ||
| Q1 25 | $0.33 | $1.71 | ||
| Q4 24 | $0.67 | $-0.44 | ||
| Q3 24 | $1.87 | $0.89 | ||
| Q2 24 | $1.65 | $1.20 | ||
| Q1 24 | $2.00 | $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 | $429.4M | $287.0M |
| 总债务越低越好 | $598.5M | — |
| 股东权益账面价值 | $623.0M | $54.0M |
| 总资产 | $1.6B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.96× | — |
8季度趋势，按日历期对齐
现金及短期投资BXCTNET
| Q4 25 | — | $287.0M | ||
| Q3 25 | $429.4M | $321.0M | ||
| Q2 25 | $386.8M | $407.0M | ||
| Q1 25 | $449.0M | $349.0M | ||
| Q4 24 | $505.6M | $360.0M | ||
| Q3 24 | $526.3M | $301.0M | ||
| Q2 24 | $491.4M | $249.0M | ||
| Q1 24 | $481.3M | $383.0M |
总债务BXCTNET
| Q4 25 | — | — | ||
| Q3 25 | $598.5M | — | ||
| Q2 25 | $596.4M | — | ||
| Q1 25 | $596.6M | — | ||
| Q4 24 | $575.1M | — | ||
| Q3 24 | $576.0M | — | ||
| Q2 24 | $574.6M | — | ||
| Q1 24 | $574.0M | — |
股东权益BXCTNET
| Q4 25 | — | $54.0M | ||
| Q3 25 | $623.0M | $110.0M | ||
| Q2 25 | $621.3M | $107.0M | ||
| Q1 25 | $636.1M | $63.0M | ||
| Q4 24 | $646.4M | $69.0M | ||
| Q3 24 | $655.6M | $129.0M | ||
| Q2 24 | $652.3M | $100.0M | ||
| Q1 24 | $653.2M | $143.0M |
总资产BXCTNET
| Q4 25 | — | $3.8B | ||
| Q3 25 | $1.6B | $3.4B | ||
| Q2 25 | $1.6B | $3.7B | ||
| Q1 25 | $1.6B | $3.8B | ||
| Q4 24 | $1.6B | $4.1B | ||
| Q3 24 | $1.6B | $3.7B | ||
| Q2 24 | $1.6B | $3.7B | ||
| Q1 24 | $1.6B | $4.0B |
负债/权益比BXCTNET
| Q4 25 | — | — | ||
| Q3 25 | 0.96× | — | ||
| Q2 25 | 0.96× | — | ||
| Q1 25 | 0.94× | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | 0.88× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 0.88× | — |
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 | $58.6M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $52.7M | $43.0M |
| 自由现金流率自由现金流/营收 | 7.0% | 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 | 35.42× | — |
| 过去12个月自由现金流最近4个季度 | $-25.1M | $234.0M |
8季度趋势，按日历期对齐
经营现金流BXCTNET
| Q4 25 | — | $61.0M | ||
| Q3 25 | $58.6M | $72.0M | ||
| Q2 25 | $-26.8M | $75.0M | ||
| Q1 25 | $-33.9M | $95.0M | ||
| Q4 24 | $18.7M | $65.0M | ||
| Q3 24 | $61.8M | $84.0M | ||
| Q2 24 | $35.8M | $39.0M | ||
| Q1 24 | $-31.1M | $91.0M |
自由现金流BXCTNET
| Q4 25 | — | $43.0M | ||
| Q3 25 | $52.7M | $55.0M | ||
| Q2 25 | $-36.4M | $57.0M | ||
| Q1 25 | $-39.8M | $79.0M | ||
| Q4 24 | $-1.5M | $47.0M | ||
| Q3 24 | $53.8M | $59.0M | ||
| Q2 24 | $29.3M | $22.0M | ||
| Q1 24 | $-36.6M | $73.0M |
自由现金流率BXCTNET
| Q4 25 | — | 3.4% | ||
| Q3 25 | 7.0% | 4.5% | ||
| Q2 25 | -4.7% | 4.6% | ||
| Q1 25 | -5.6% | 6.1% | ||
| Q4 24 | -0.2% | 3.7% | ||
| Q3 24 | 7.2% | 4.8% | ||
| Q2 24 | 3.8% | 1.8% | ||
| Q1 24 | -5.0% | 5.8% |
资本支出强度BXCTNET
| Q4 25 | — | 1.4% | ||
| Q3 25 | 0.8% | 1.4% | ||
| Q2 25 | 1.2% | 1.5% | ||
| Q1 25 | 0.8% | 1.2% | ||
| Q4 24 | 2.9% | 1.4% | ||
| Q3 24 | 1.1% | 2.0% | ||
| Q2 24 | 0.8% | 1.4% | ||
| Q1 24 | 0.8% | 1.4% |
现金转化率BXCTNET
| Q4 25 | — | — | ||
| Q3 25 | 35.42× | 2.12× | ||
| Q2 25 | -6.21× | 2.03× | ||
| Q1 25 | -12.09× | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.86× | 1.87× | ||
| Q2 24 | 2.50× | 0.65× | ||
| Q1 24 | -1.78× | 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
BXC
| Specialty Products | $525.5M | 70% |
| Structural Products | $223.4M | 30% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
