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Churchill Downs Inc（CHDN）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Churchill Downs Inc的1.9倍（$1.2B vs $663.0M），Churchill Downs Inc同比增速更快（3.1% vs -2.2%），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -13.7%）
丘吉尔唐斯股份有限公司是丘吉尔唐斯赛马场的母公司，起家于美国肯塔基州路易斯维尔的单一赛马场，现已发展为业务覆盖美国多州的上市企业，旗下拥有赛马场、赌场、线上投注平台等多元业务板块。
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。
CHDN vs TNET — 直观对比
营收规模更大
TNET
是对方的1.9倍
$663.0M
营收增速更快
CHDN
高出5.3%
-2.2%
两年增速更快
TNET
近两年复合增速
-13.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $663.0M | $1.2B |
| 净利润 | $83.0M | — |
| 毛利率 | — | — |
| 营业利润率 | 21.6% | 0.1% |
| 净利率 | 12.5% | — |
| 营收同比 | 3.1% | -2.2% |
| 净利润同比 | 7.8% | — |
| 每股收益（稀释后） | $1.16 | $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CHDNTNET
| Q1 26 | $663.0M | — | ||
| Q4 25 | $665.9M | $1.2B | ||
| Q3 25 | $683.0M | $1.2B | ||
| Q2 25 | $934.4M | $1.2B | ||
| Q1 25 | $642.6M | $1.3B | ||
| Q4 24 | $624.2M | $1.3B | ||
| Q3 24 | $628.5M | $1.2B | ||
| Q2 24 | $890.7M | $1.2B |
净利润CHDNTNET
| Q1 26 | $83.0M | — | ||
| Q4 25 | $51.3M | — | ||
| Q3 25 | $38.1M | $34.0M | ||
| Q2 25 | $216.9M | $37.0M | ||
| Q1 25 | $76.7M | $85.0M | ||
| Q4 24 | $71.7M | — | ||
| Q3 24 | $65.4M | $45.0M | ||
| Q2 24 | $209.3M | $60.0M |
营业利润率CHDNTNET
| Q1 26 | 21.6% | — | ||
| Q4 25 | 18.5% | 0.1% | ||
| Q3 25 | 14.3% | 4.1% | ||
| Q2 25 | 35.1% | 4.1% | ||
| Q1 25 | 20.9% | 8.9% | ||
| Q4 24 | 20.3% | -2.9% | ||
| Q3 24 | 20.0% | 4.7% | ||
| Q2 24 | 37.0% | 6.5% |
净利率CHDNTNET
| Q1 26 | 12.5% | — | ||
| Q4 25 | 7.7% | — | ||
| Q3 25 | 5.6% | 2.8% | ||
| Q2 25 | 23.2% | 3.0% | ||
| Q1 25 | 11.9% | 6.6% | ||
| Q4 24 | 11.5% | — | ||
| Q3 24 | 10.4% | 3.6% | ||
| Q2 24 | 23.5% | 4.9% |
每股收益（稀释后）CHDNTNET
| Q1 26 | $1.16 | — | ||
| Q4 25 | — | $0.02 | ||
| Q3 25 | — | $0.70 | ||
| Q2 25 | — | $0.77 | ||
| Q1 25 | — | $1.71 | ||
| Q4 24 | — | $-0.44 | ||
| Q3 24 | — | $0.89 | ||
| Q2 24 | — | $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 | $200.0M | $287.0M |
| 总债务越低越好 | $840.0M | — |
| 股东权益账面价值 | — | $54.0M |
| 总资产 | $7.5B | $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CHDNTNET
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | $287.0M | ||
| Q3 25 | $180.5M | $321.0M | ||
| Q2 25 | $182.4M | $407.0M | ||
| Q1 25 | $174.2M | $349.0M | ||
| Q4 24 | $175.5M | $360.0M | ||
| Q3 24 | $152.7M | $301.0M | ||
| Q2 24 | $140.3M | $249.0M |
总债务CHDNTNET
| Q1 26 | $840.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CHDNTNET
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $54.0M | ||
| Q3 25 | $1.0B | $110.0M | ||
| Q2 25 | $1.0B | $107.0M | ||
| Q1 25 | $1.1B | $63.0M | ||
| Q4 24 | $1.1B | $69.0M | ||
| Q3 24 | $1.1B | $129.0M | ||
| Q2 24 | $1.0B | $100.0M |
总资产CHDNTNET
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.5B | $3.8B | ||
| Q3 25 | $7.5B | $3.4B | ||
| Q2 25 | $7.4B | $3.7B | ||
| Q1 25 | $7.3B | $3.8B | ||
| Q4 24 | $7.3B | $4.1B | ||
| Q3 24 | $7.2B | $3.7B | ||
| Q2 24 | $7.2B | $3.7B |
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 | $295.0M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | — | $43.0M |
| 自由现金流率自由现金流/营收 | — | 3.4% |
| 资本支出强度资本支出/营收 | — | 1.4% |
| 现金转化率经营现金流/净利润 | 3.55× | — |
| 过去12个月自由现金流最近4个季度 | — | $234.0M |
8季度趋势，按日历期对齐
经营现金流CHDNTNET
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | $61.0M | ||
| Q3 25 | $187.7M | $72.0M | ||
| Q2 25 | — | $75.0M | ||
| Q1 25 | $246.5M | $95.0M | ||
| Q4 24 | — | $65.0M | ||
| Q3 24 | $169.4M | $84.0M | ||
| Q2 24 | — | $39.0M |
自由现金流CHDNTNET
| Q1 26 | — | — | ||
| Q4 25 | — | $43.0M | ||
| Q3 25 | $166.3M | $55.0M | ||
| Q2 25 | — | $57.0M | ||
| Q1 25 | $233.9M | $79.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | $154.4M | $59.0M | ||
| Q2 24 | — | $22.0M |
自由现金流率CHDNTNET
| Q1 26 | — | — | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | 24.3% | 4.5% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | 36.4% | 6.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | 24.6% | 4.8% | ||
| Q2 24 | — | 1.8% |
资本支出强度CHDNTNET
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 1.4% | ||
| Q3 25 | 3.1% | 1.4% | ||
| Q2 25 | 2.0% | 1.5% | ||
| Q1 25 | 2.0% | 1.2% | ||
| Q4 24 | 5.4% | 1.4% | ||
| Q3 24 | 2.4% | 2.0% | ||
| Q2 24 | 2.5% | 1.4% |
现金转化率CHDNTNET
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 4.93× | 2.12× | ||
| Q2 25 | — | 2.03× | ||
| Q1 25 | 3.21× | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.59× | 1.87× | ||
| Q2 24 | — | 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
CHDN
| Live and Historical Racing | $297.0M | 45% |
| Gaming | $257.0M | 39% |
| Wagering Services and Solutions | $109.0M | 16% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
