vs
Calumet, Inc.（CLMT）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Calumet, Inc.的1.2倍（$1.2B vs $1.0B），Calumet, Inc.自由现金流更多（$103.8M vs $43.0M）
Calumet是总部位于美国的特种产品企业，专注于生产和分销高价值碳氢化合物与特种化学品，产品覆盖特种油、润滑剂、蜡制品及可再生燃料解决方案，服务北美及全球的工业、消费、交通等下游领域。
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。
CLMT vs TNET — 直观对比
营收规模更大
TNET
是对方的1.2倍
$1.0B
自由现金流更多
CLMT
多$60.8M
$43.0M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.2B |
| 净利润 | $-37.3M | — |
| 毛利率 | -0.3% | — |
| 营业利润率 | -6.2% | 0.1% |
| 净利率 | -3.6% | — |
| 营收同比 | — | -2.2% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-0.43 | $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CLMTTNET
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $993.9M | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | — | $1.3B |
净利润CLMTTNET
| Q4 25 | $-37.3M | — | ||
| Q3 25 | $313.4M | $34.0M | ||
| Q2 25 | $-147.9M | $37.0M | ||
| Q1 25 | $-162.0M | $85.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-100.6M | $45.0M | ||
| Q2 24 | $-39.1M | $60.0M | ||
| Q1 24 | — | $91.0M |
毛利率CLMTTNET
| Q4 25 | -0.3% | — | ||
| Q3 25 | 34.7% | — | ||
| Q2 25 | -4.2% | — | ||
| Q1 25 | -8.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 5.6% | — | ||
| Q1 24 | — | — |
营业利润率CLMTTNET
| Q4 25 | -6.2% | 0.1% | ||
| Q3 25 | 30.0% | 4.1% | ||
| Q2 25 | -9.8% | 4.1% | ||
| Q1 25 | -4.9% | 8.9% | ||
| Q4 24 | — | -2.9% | ||
| Q3 24 | -5.2% | 4.7% | ||
| Q2 24 | 0.5% | 6.5% | ||
| Q1 24 | — | 9.7% |
净利率CLMTTNET
| Q4 25 | -3.6% | — | ||
| Q3 25 | 29.1% | 2.8% | ||
| Q2 25 | -14.4% | 3.0% | ||
| Q1 25 | -16.3% | 6.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | -9.1% | 3.6% | ||
| Q2 24 | -3.4% | 4.9% | ||
| Q1 24 | — | 7.2% |
每股收益（稀释后）CLMTTNET
| Q4 25 | $-0.43 | $0.02 | ||
| Q3 25 | $3.61 | $0.70 | ||
| Q2 25 | $-1.70 | $0.77 | ||
| Q1 25 | $-1.87 | $1.71 | ||
| Q4 24 | — | $-0.44 | ||
| Q3 24 | $-1.18 | $0.89 | ||
| Q2 24 | $-0.48 | $1.20 | ||
| Q1 24 | — | $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 | $125.1M | $287.0M |
| 总债务越低越好 | $2.1B | — |
| 股东权益账面价值 | $-732.7M | $54.0M |
| 总资产 | $2.7B | $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CLMTTNET
| Q4 25 | $125.1M | $287.0M | ||
| Q3 25 | $94.6M | $321.0M | ||
| Q2 25 | $110.6M | $407.0M | ||
| Q1 25 | $123.4M | $349.0M | ||
| Q4 24 | — | $360.0M | ||
| Q3 24 | $34.6M | $301.0M | ||
| Q2 24 | $7.0M | $249.0M | ||
| Q1 24 | — | $383.0M |
总债务CLMTTNET
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CLMTTNET
| Q4 25 | $-732.7M | $54.0M | ||
| Q3 25 | $-695.3M | $110.0M | ||
| Q2 25 | $-1.0B | $107.0M | ||
| Q1 25 | $-862.3M | $63.0M | ||
| Q4 24 | — | $69.0M | ||
| Q3 24 | $-672.2M | $129.0M | ||
| Q2 24 | $-566.4M | $100.0M | ||
| Q1 24 | — | $143.0M |
总资产CLMTTNET
| Q4 25 | $2.7B | $3.8B | ||
| Q3 25 | $2.7B | $3.4B | ||
| Q2 25 | $2.8B | $3.7B | ||
| Q1 25 | $2.8B | $3.8B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | $2.6B | $3.7B | ||
| Q2 24 | $100 | $3.7B | ||
| Q1 24 | — | $4.0B |
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 | $116.5M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $43.0M |
| 自由现金流率自由现金流/营收 | 10.0% | 3.4% |
| 资本支出强度资本支出/营收 | 1.2% | 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 | $56.6M | $234.0M |
8季度趋势，按日历期对齐
经营现金流CLMTTNET
| Q4 25 | $116.5M | $61.0M | ||
| Q3 25 | $23.5M | $72.0M | ||
| Q2 25 | $-1.8M | $75.0M | ||
| Q1 25 | $-29.3M | $95.0M | ||
| Q4 24 | — | $65.0M | ||
| Q3 24 | $-15.5M | $84.0M | ||
| Q2 24 | — | $39.0M | ||
| Q1 24 | — | $91.0M |
自由现金流CLMTTNET
| Q4 25 | $103.8M | $43.0M | ||
| Q3 25 | $15.1M | $55.0M | ||
| Q2 25 | $-15.4M | $57.0M | ||
| Q1 25 | $-46.9M | $79.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | $-32.2M | $59.0M | ||
| Q2 24 | — | $22.0M | ||
| Q1 24 | — | $73.0M |
自由现金流率CLMTTNET
| Q4 25 | 10.0% | 3.4% | ||
| Q3 25 | 1.4% | 4.5% | ||
| Q2 25 | -1.5% | 4.6% | ||
| Q1 25 | -4.7% | 6.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | -2.9% | 4.8% | ||
| Q2 24 | — | 1.8% | ||
| Q1 24 | — | 5.8% |
资本支出强度CLMTTNET
| Q4 25 | 1.2% | 1.4% | ||
| Q3 25 | 0.8% | 1.4% | ||
| Q2 25 | 1.3% | 1.5% | ||
| Q1 25 | 1.8% | 1.2% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 1.5% | 2.0% | ||
| Q2 24 | 2.2% | 1.4% | ||
| Q1 24 | — | 1.4% |
现金转化率CLMTTNET
| Q4 25 | — | — | ||
| Q3 25 | 0.07× | 2.12× | ||
| Q2 25 | — | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | — | 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
CLMT
| Specialty Products And Solutions | $675.9M | 65% |
| Montana Renewables | $294.2M | 28% |
| Performance Brands | $68.5M | 7% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
