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芝商所（CME）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
芝商所的季度营收约是TRINET GROUP, INC.的1.5倍（$1.9B vs $1.2B），芝商所同比增速更快（14.5% vs -2.2%），过去两年芝商所的营收复合增速更高（10.8% vs -0.6%）
芝商所是总部位于美国伊利诺伊州芝加哥的金融服务企业，为全球规模最大的金融衍生品交易所运营商，旗下拥有芝加哥商品交易所、芝加哥期货交易所、纽约商业交易所、纽约商品交易所等交易平台，覆盖农产品、货币、能源等品类交易，同时持有标普道琼斯指数27%的股权。
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。
CME vs TNET — 直观对比
营收规模更大
CME
是对方的1.5倍
$1.2B
营收增速更快
CME
高出16.7%
-2.2%
两年增速更快
CME
近两年复合增速
-0.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.2B |
| 净利润 | $1.2M | — |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 0.1% |
| 净利率 | 0.1% | — |
| 营收同比 | 14.5% | -2.2% |
| 净利润同比 | 20.7% | — |
| 每股收益（稀释后） | — | $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CMETNET
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | $1.5B | $1.3B | ||
| Q3 24 | $1.6B | $1.2B | ||
| Q2 24 | $1.5B | $1.2B |
净利润CMETNET
| Q1 26 | $1.2M | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $908.0M | $34.0M | ||
| Q2 25 | $1.0B | $37.0M | ||
| Q1 25 | $956.2M | $85.0M | ||
| Q4 24 | $874.6M | — | ||
| Q3 24 | $912.8M | $45.0M | ||
| Q2 24 | $883.2M | $60.0M |
营业利润率CMETNET
| Q1 26 | 0.1% | — | ||
| Q4 25 | 61.8% | 0.1% | ||
| Q3 25 | 63.3% | 4.1% | ||
| Q2 25 | 66.7% | 4.1% | ||
| Q1 25 | 67.5% | 8.9% | ||
| Q4 24 | 62.1% | -2.9% | ||
| Q3 24 | 64.6% | 4.7% | ||
| Q2 24 | 65.3% | 6.5% |
净利率CMETNET
| Q1 26 | 0.1% | — | ||
| Q4 25 | 71.7% | — | ||
| Q3 25 | 59.1% | 2.8% | ||
| Q2 25 | 60.6% | 3.0% | ||
| Q1 25 | 58.2% | 6.6% | ||
| Q4 24 | 57.3% | — | ||
| Q3 24 | 57.6% | 3.6% | ||
| Q2 24 | 57.6% | 4.9% |
每股收益（稀释后）CMETNET
| Q1 26 | — | — | ||
| Q4 25 | $3.24 | $0.02 | ||
| Q3 25 | $2.49 | $0.70 | ||
| Q2 25 | $2.81 | $0.77 | ||
| Q1 25 | $2.62 | $1.71 | ||
| Q4 24 | $2.40 | $-0.44 | ||
| Q3 24 | $2.50 | $0.89 | ||
| Q2 24 | $2.42 | $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 | $2.4B | $287.0M |
| 总债务越低越好 | $3.4B | — |
| 股东权益账面价值 | — | $54.0M |
| 总资产 | $202.0B | $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CMETNET
| Q1 26 | $2.4B | — | ||
| Q4 25 | $4.5B | $287.0M | ||
| Q3 25 | $2.6B | $321.0M | ||
| Q2 25 | $2.1B | $407.0M | ||
| Q1 25 | $1.5B | $349.0M | ||
| Q4 24 | $3.0B | $360.0M | ||
| Q3 24 | $2.4B | $301.0M | ||
| Q2 24 | $1.9B | $249.0M |
总债务CMETNET
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CMETNET
| Q1 26 | — | — | ||
| Q4 25 | $28.7B | $54.0M | ||
| Q3 25 | $28.2B | $110.0M | ||
| Q2 25 | $27.7B | $107.0M | ||
| Q1 25 | $27.0B | $63.0M | ||
| Q4 24 | $26.5B | $69.0M | ||
| Q3 24 | $28.2B | $129.0M | ||
| Q2 24 | $27.6B | $100.0M |
总资产CMETNET
| Q1 26 | $202.0B | — | ||
| Q4 25 | $198.4B | $3.8B | ||
| Q3 25 | $187.1B | $3.4B | ||
| Q2 25 | $179.9B | $3.7B | ||
| Q1 25 | $157.8B | $3.8B | ||
| Q4 24 | $137.4B | $4.1B | ||
| Q3 24 | $137.8B | $3.7B | ||
| Q2 24 | $123.4B | $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 | — | $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 | — | — |
| 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CMETNET
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $61.0M | ||
| Q3 25 | $968.1M | $72.0M | ||
| Q2 25 | $1.1B | $75.0M | ||
| Q1 25 | $1.1B | $95.0M | ||
| Q4 24 | $1.0B | $65.0M | ||
| Q3 24 | $1.0B | $84.0M | ||
| Q2 24 | $776.9M | $39.0M |
自由现金流CMETNET
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $43.0M | ||
| Q3 25 | $949.7M | $55.0M | ||
| Q2 25 | $1.0B | $57.0M | ||
| Q1 25 | $1.1B | $79.0M | ||
| Q4 24 | $991.7M | $47.0M | ||
| Q3 24 | $973.2M | $59.0M | ||
| Q2 24 | $758.7M | $22.0M |
自由现金流率CMETNET
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | 3.4% | ||
| Q3 25 | 61.8% | 4.5% | ||
| Q2 25 | 61.5% | 4.6% | ||
| Q1 25 | 67.1% | 6.1% | ||
| Q4 24 | 65.0% | 3.7% | ||
| Q3 24 | 61.4% | 4.8% | ||
| Q2 24 | 49.5% | 1.8% |
资本支出强度CMETNET
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 1.4% | ||
| Q3 25 | 1.2% | 1.4% | ||
| Q2 25 | 1.1% | 1.5% | ||
| Q1 25 | 0.9% | 1.2% | ||
| Q4 24 | 1.7% | 1.4% | ||
| Q3 24 | 1.9% | 2.0% | ||
| Q2 24 | 1.2% | 1.4% |
现金转化率CMETNET
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | — | ||
| Q3 25 | 1.07× | 2.12× | ||
| Q2 25 | 1.03× | 2.03× | ||
| Q1 25 | 1.17× | 1.12× | ||
| Q4 24 | 1.16× | — | ||
| Q3 24 | 1.10× | 1.87× | ||
| Q2 24 | 0.88× | 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
CME
暂无分部数据
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
