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Crown Castle（CCI）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Crown Castle的1.2倍（$1.2B vs $1.0B），TRINET GROUP, INC.同比增速更快（-2.2% vs -4.8%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $-43.0M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -4.5%）
Crown Castle Inc.是总部位于美国得克萨斯州休斯敦的房地产投资信托企业，同时是美国共享通信基础设施服务商，在全球设有100个办事处，旗下拥有超4万座信号塔、约8.5万英里光纤线路，为小基站及光纤系统提供网络支撑。
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。
CCI vs TNET — 直观对比
营收规模更大
TNET
是对方的1.2倍
$1.0B
营收增速更快
TNET
高出2.6%
-4.8%
自由现金流更多
TNET
多$86.0M
$-43.0M
两年增速更快
TNET
近两年复合增速
-4.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.2B |
| 净利润 | $-464.0M | — |
| 毛利率 | — | — |
| 营业利润率 | 46.0% | 0.1% |
| 净利率 | -45.9% | — |
| 营收同比 | -4.8% | -2.2% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $1.48 | $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CCITNET
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B |
净利润CCITNET
| Q1 26 | $-464.0M | — | ||
| Q4 25 | $294.0M | — | ||
| Q3 25 | $323.0M | $34.0M | ||
| Q2 25 | $291.0M | $37.0M | ||
| Q1 25 | $-464.0M | $85.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $303.0M | $45.0M | ||
| Q2 24 | $251.0M | $60.0M |
毛利率CCITNET
| Q1 26 | — | — | ||
| Q4 25 | 97.4% | — | ||
| Q3 25 | 97.2% | — | ||
| Q2 25 | 97.5% | — | ||
| Q1 25 | 97.4% | — | ||
| Q4 24 | 97.7% | — | ||
| Q3 24 | 97.6% | — | ||
| Q2 24 | 97.7% | — |
营业利润率CCITNET
| Q1 26 | 46.0% | — | ||
| Q4 25 | 48.8% | 0.1% | ||
| Q3 25 | 49.0% | 4.1% | ||
| Q2 25 | 47.7% | 4.1% | ||
| Q1 25 | 49.1% | 8.9% | ||
| Q4 24 | 51.0% | -2.9% | ||
| Q3 24 | 47.5% | 4.7% | ||
| Q2 24 | 44.7% | 6.5% |
净利率CCITNET
| Q1 26 | -45.9% | — | ||
| Q4 25 | 27.5% | — | ||
| Q3 25 | 30.1% | 2.8% | ||
| Q2 25 | 27.5% | 3.0% | ||
| Q1 25 | -43.7% | 6.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | 27.1% | 3.6% | ||
| Q2 24 | 22.7% | 4.9% |
每股收益（稀释后）CCITNET
| Q1 26 | $1.48 | — | ||
| Q4 25 | $0.67 | $0.02 | ||
| Q3 25 | $0.74 | $0.70 | ||
| Q2 25 | $0.67 | $0.77 | ||
| Q1 25 | $-1.07 | $1.71 | ||
| Q4 24 | — | $-0.44 | ||
| Q3 24 | $0.70 | $0.89 | ||
| Q2 24 | $0.58 | $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 | $55.0M | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $54.0M |
| 总资产 | $31.4B | $3.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CCITNET
| Q1 26 | $55.0M | — | ||
| Q4 25 | $99.0M | $287.0M | ||
| Q3 25 | $57.0M | $321.0M | ||
| Q2 25 | $94.0M | $407.0M | ||
| Q1 25 | $60.0M | $349.0M | ||
| Q4 24 | $100.0M | $360.0M | ||
| Q3 24 | $194.0M | $301.0M | ||
| Q2 24 | $155.0M | $249.0M |
总债务CCITNET
| Q1 26 | — | — | ||
| Q4 25 | $21.6B | — | ||
| Q3 25 | $21.6B | — | ||
| Q2 25 | $22.0B | — | ||
| Q1 25 | $22.9B | — | ||
| Q4 24 | $23.5B | — | ||
| Q3 24 | $23.5B | — | ||
| Q2 24 | $22.9B | — |
股东权益CCITNET
| Q1 26 | — | — | ||
| Q4 25 | $-1.6B | $54.0M | ||
| Q3 25 | $-1.5B | $110.0M | ||
| Q2 25 | $-1.4B | $107.0M | ||
| Q1 25 | $-1.3B | $63.0M | ||
| Q4 24 | $-133.0M | $69.0M | ||
| Q3 24 | $5.3B | $129.0M | ||
| Q2 24 | $5.7B | $100.0M |
总资产CCITNET
| Q1 26 | $31.4B | — | ||
| Q4 25 | $31.5B | $3.8B | ||
| Q3 25 | $31.5B | $3.4B | ||
| Q2 25 | $31.6B | $3.7B | ||
| Q1 25 | $31.8B | $3.8B | ||
| Q4 24 | $32.7B | $4.1B | ||
| Q3 24 | $38.0B | $3.7B | ||
| Q2 24 | $38.2B | $3.7B |
负债/权益比CCITNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.43× | — | ||
| Q2 24 | 4.04× | — |
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 | — | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $-43.0M | $43.0M |
| 自由现金流率自由现金流/营收 | -4.3% | 3.4% |
| 资本支出强度资本支出/营收 | 1.0% | 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 | $4.3B | $234.0M |
8季度趋势，按日历期对齐
经营现金流CCITNET
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $61.0M | ||
| Q3 25 | $714.0M | $72.0M | ||
| Q2 25 | $832.0M | $75.0M | ||
| Q1 25 | $641.0M | $95.0M | ||
| Q4 24 | $2.9B | $65.0M | ||
| Q3 24 | $699.0M | $84.0M | ||
| Q2 24 | $768.0M | $39.0M |
自由现金流CCITNET
| Q1 26 | $-43.0M | — | ||
| Q4 25 | $2.9B | $43.0M | ||
| Q3 25 | $671.0M | $55.0M | ||
| Q2 25 | $792.0M | $57.0M | ||
| Q1 25 | $601.0M | $79.0M | ||
| Q4 24 | $2.8B | $47.0M | ||
| Q3 24 | $661.0M | $59.0M | ||
| Q2 24 | $729.0M | $22.0M |
自由现金流率CCITNET
| Q1 26 | -4.3% | — | ||
| Q4 25 | 268.4% | 3.4% | ||
| Q3 25 | 62.6% | 4.5% | ||
| Q2 25 | 74.7% | 4.6% | ||
| Q1 25 | 56.6% | 6.1% | ||
| Q4 24 | 247.3% | 3.7% | ||
| Q3 24 | 59.0% | 4.8% | ||
| Q2 24 | 65.9% | 1.8% |
资本支出强度CCITNET
| Q1 26 | 1.0% | — | ||
| Q4 25 | 17.0% | 1.4% | ||
| Q3 25 | 4.0% | 1.4% | ||
| Q2 25 | 3.8% | 1.5% | ||
| Q1 25 | 3.8% | 1.2% | ||
| Q4 24 | 15.7% | 1.4% | ||
| Q3 24 | 3.4% | 2.0% | ||
| Q2 24 | 3.5% | 1.4% |
现金转化率CCITNET
| Q1 26 | — | — | ||
| Q4 25 | 10.40× | — | ||
| Q3 25 | 2.21× | 2.12× | ||
| Q2 25 | 2.86× | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.31× | 1.87× | ||
| Q2 24 | 3.06× | 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
CCI
| Site rental | $961.0M | 95% |
| Services and other | $49.0M | 5% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
