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AMERICOLD REALTY TRUST（COLD）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AMERICOLD REALTY TRUST的1.9倍（$1.2B vs $643.1M），AMERICOLD REALTY TRUST同比增速更快（-0.7% vs -2.2%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $-12.2M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -0.6%）
Americold Realty Trust是总部位于美国佐治亚州亚特兰大的温控仓储及运输企业，主营现代化商用温控仓储业务，通过冷链体系存储易腐货物，是食品保鲜供应链的重要参与方，为全球第二大温控仓储及配送服务提供商。
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。
COLD vs TNET — 直观对比
营收规模更大
TNET
是对方的1.9倍
$643.1M
营收增速更快
COLD
高出1.5%
-2.2%
自由现金流更多
TNET
多$55.2M
$-12.2M
两年增速更快
TNET
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $643.1M | $1.2B |
| 净利润 | $-88.3M | — |
| 毛利率 | 31.3% | — |
| 营业利润率 | -10.8% | 0.1% |
| 净利率 | -13.7% | — |
| 营收同比 | -0.7% | -2.2% |
| 净利润同比 | -143.9% | — |
| 每股收益（稀释后） | $-0.31 | $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COLDTNET
| Q4 25 | $643.1M | $1.2B | ||
| Q3 25 | $649.0M | $1.2B | ||
| Q2 25 | $635.1M | $1.2B | ||
| Q1 25 | $613.7M | $1.3B | ||
| Q4 24 | $647.4M | $1.3B | ||
| Q3 24 | $660.4M | $1.2B | ||
| Q2 24 | $645.6M | $1.2B | ||
| Q1 24 | $651.4M | $1.3B |
净利润COLDTNET
| Q4 25 | $-88.3M | — | ||
| Q3 25 | $-11.4M | $34.0M | ||
| Q2 25 | $1.5M | $37.0M | ||
| Q1 25 | $-16.4M | $85.0M | ||
| Q4 24 | $-36.2M | — | ||
| Q3 24 | $-3.7M | $45.0M | ||
| Q2 24 | $-64.1M | $60.0M | ||
| Q1 24 | $9.7M | $91.0M |
毛利率COLDTNET
| Q4 25 | 31.3% | — | ||
| Q3 25 | 29.3% | — | ||
| Q2 25 | 30.9% | — | ||
| Q1 25 | 31.1% | — | ||
| Q4 24 | 29.7% | — | ||
| Q3 24 | 29.6% | — | ||
| Q2 24 | 31.0% | — | ||
| Q1 24 | 30.3% | — |
营业利润率COLDTNET
| Q4 25 | -10.8% | 0.1% | ||
| Q3 25 | 2.6% | 4.1% | ||
| Q2 25 | 5.9% | 4.1% | ||
| Q1 25 | 3.6% | 8.9% | ||
| Q4 24 | -1.8% | -2.9% | ||
| Q3 24 | 4.6% | 4.7% | ||
| Q2 24 | 9.8% | 6.5% | ||
| Q1 24 | 6.4% | 9.7% |
净利率COLDTNET
| Q4 25 | -13.7% | — | ||
| Q3 25 | -1.8% | 2.8% | ||
| Q2 25 | 0.2% | 3.0% | ||
| Q1 25 | -2.7% | 6.6% | ||
| Q4 24 | -5.6% | — | ||
| Q3 24 | -0.6% | 3.6% | ||
| Q2 24 | -9.9% | 4.9% | ||
| Q1 24 | 1.5% | 7.2% |
每股收益（稀释后）COLDTNET
| Q4 25 | $-0.31 | $0.02 | ||
| Q3 25 | $-0.04 | $0.70 | ||
| Q2 25 | $0.01 | $0.77 | ||
| Q1 25 | $-0.06 | $1.71 | ||
| Q4 24 | $-0.12 | $-0.44 | ||
| Q3 24 | $-0.01 | $0.89 | ||
| Q2 24 | $-0.23 | $1.20 | ||
| Q1 24 | $0.03 | $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 | $136.9M | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.9B | $54.0M |
| 总资产 | $8.1B | $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COLDTNET
| Q4 25 | $136.9M | $287.0M | ||
| Q3 25 | $33.3M | $321.0M | ||
| Q2 25 | $101.4M | $407.0M | ||
| Q1 25 | $38.9M | $349.0M | ||
| Q4 24 | $47.7M | $360.0M | ||
| Q3 24 | $61.3M | $301.0M | ||
| Q2 24 | $44.2M | $249.0M | ||
| Q1 24 | $59.2M | $383.0M |
股东权益COLDTNET
| Q4 25 | $2.9B | $54.0M | ||
| Q3 25 | $3.0B | $110.0M | ||
| Q2 25 | $3.1B | $107.0M | ||
| Q1 25 | $3.2B | $63.0M | ||
| Q4 24 | $3.3B | $69.0M | ||
| Q3 24 | $3.4B | $129.0M | ||
| Q2 24 | $3.4B | $100.0M | ||
| Q1 24 | $3.6B | $143.0M |
总资产COLDTNET
| Q4 25 | $8.1B | $3.8B | ||
| Q3 25 | $8.1B | $3.4B | ||
| Q2 25 | $8.1B | $3.7B | ||
| Q1 25 | $7.8B | $3.8B | ||
| Q4 24 | $7.7B | $4.1B | ||
| Q3 24 | $7.9B | $3.7B | ||
| Q2 24 | $7.8B | $3.7B | ||
| Q1 24 | $7.8B | $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 | $130.2M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $-12.2M | $43.0M |
| 自由现金流率自由现金流/营收 | -1.9% | 3.4% |
| 资本支出强度资本支出/营收 | 22.1% | 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 | $-217.2M | $234.0M |
8季度趋势，按日历期对齐
经营现金流COLDTNET
| Q4 25 | $130.2M | $61.0M | ||
| Q3 25 | $78.9M | $72.0M | ||
| Q2 25 | $120.3M | $75.0M | ||
| Q1 25 | $30.2M | $95.0M | ||
| Q4 24 | $162.6M | $65.0M | ||
| Q3 24 | $50.6M | $84.0M | ||
| Q2 24 | $136.7M | $39.0M | ||
| Q1 24 | $62.0M | $91.0M |
自由现金流COLDTNET
| Q4 25 | $-12.2M | $43.0M | ||
| Q3 25 | $-65.4M | $55.0M | ||
| Q2 25 | $-57.4M | $57.0M | ||
| Q1 25 | $-82.3M | $79.0M | ||
| Q4 24 | $57.4M | $47.0M | ||
| Q3 24 | $-44.5M | $59.0M | ||
| Q2 24 | $73.3M | $22.0M | ||
| Q1 24 | $16.2M | $73.0M |
自由现金流率COLDTNET
| Q4 25 | -1.9% | 3.4% | ||
| Q3 25 | -10.1% | 4.5% | ||
| Q2 25 | -9.0% | 4.6% | ||
| Q1 25 | -13.4% | 6.1% | ||
| Q4 24 | 8.9% | 3.7% | ||
| Q3 24 | -6.7% | 4.8% | ||
| Q2 24 | 11.4% | 1.8% | ||
| Q1 24 | 2.5% | 5.8% |
资本支出强度COLDTNET
| Q4 25 | 22.1% | 1.4% | ||
| Q3 25 | 22.2% | 1.4% | ||
| Q2 25 | 28.0% | 1.5% | ||
| Q1 25 | 18.3% | 1.2% | ||
| Q4 24 | 16.3% | 1.4% | ||
| Q3 24 | 14.4% | 2.0% | ||
| Q2 24 | 9.8% | 1.4% | ||
| Q1 24 | 7.0% | 1.4% |
现金转化率COLDTNET
| Q4 25 | — | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | 78.18× | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | 6.36× | 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
COLD
| Warehouse Services | $269.0M | 42% |
| Warehouse Rent And Storage | $199.9M | 31% |
| Other Facilities Costs | $60.0M | 9% |
| Transportation Segment | $48.3M | 8% |
| Power | $34.7M | 5% |
| Transportation | $22.0M | 3% |
| Third Party Managed Segment | $9.5M | 1% |
| Third Party Managed | $2.4M | 0% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
