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卡彭特科技（CRS）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.的季度营收约是卡彭特科技的1.5倍（$1.2B vs $811.5M），卡彭特科技同比增速更快（11.6% vs -2.2%），卡彭特科技自由现金流更多（$124.8M vs $43.0M），过去两年卡彭特科技的营收复合增速更高（0.8% vs -0.6%）
卡彭特科技是全球特种合金材料供应商，主营不锈钢、耐腐蚀镍、铜、钛合金及3D增材制造用粉末合金的研发、生产与分销。2018财年其营收分布为：航空航天与国防占55%，工业与消费品占17%，医疗占8%，交通、能源各占7%，分销业务占6%。
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。
CRS vs TNET — 直观对比
营收规模更大
TNET
是对方的1.5倍
$811.5M
营收增速更快
CRS
高出13.8%
-2.2%
自由现金流更多
CRS
多$81.8M
$43.0M
两年增速更快
CRS
近两年复合增速
-0.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $811.5M | $1.2B |
| 净利润 | $139.6M | — |
| 毛利率 | 31.0% | — |
| 营业利润率 | 23.0% | 0.1% |
| 净利率 | 17.2% | — |
| 营收同比 | 11.6% | -2.2% |
| 净利润同比 | 46.3% | — |
| 每股收益（稀释后） | $2.77 | $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CRSTNET
| Q1 26 | $811.5M | — | ||
| Q4 25 | $728.0M | $1.2B | ||
| Q3 25 | $733.7M | $1.2B | ||
| Q2 25 | $755.6M | $1.2B | ||
| Q1 25 | $727.0M | $1.3B | ||
| Q4 24 | $676.9M | $1.3B | ||
| Q3 24 | $717.6M | $1.2B | ||
| Q2 24 | $798.7M | $1.2B |
净利润CRSTNET
| Q1 26 | $139.6M | — | ||
| Q4 25 | $105.3M | — | ||
| Q3 25 | $122.5M | $34.0M | ||
| Q2 25 | $111.7M | $37.0M | ||
| Q1 25 | $95.4M | $85.0M | ||
| Q4 24 | $84.1M | — | ||
| Q3 24 | $84.8M | $45.0M | ||
| Q2 24 | $93.6M | $60.0M |
毛利率CRSTNET
| Q1 26 | 31.0% | — | ||
| Q4 25 | 30.0% | — | ||
| Q3 25 | 29.5% | — | ||
| Q2 25 | 28.3% | — | ||
| Q1 25 | 27.6% | — | ||
| Q4 24 | 26.2% | — | ||
| Q3 24 | 24.6% | — | ||
| Q2 24 | 23.9% | — |
营业利润率CRSTNET
| Q1 26 | 23.0% | — | ||
| Q4 25 | 21.3% | 0.1% | ||
| Q3 25 | 20.9% | 4.1% | ||
| Q2 25 | 20.1% | 4.1% | ||
| Q1 25 | 19.0% | 8.9% | ||
| Q4 24 | 17.6% | -2.9% | ||
| Q3 24 | 15.8% | 4.7% | ||
| Q2 24 | 13.6% | 6.5% |
净利率CRSTNET
| Q1 26 | 17.2% | — | ||
| Q4 25 | 14.5% | — | ||
| Q3 25 | 16.7% | 2.8% | ||
| Q2 25 | 14.8% | 3.0% | ||
| Q1 25 | 13.1% | 6.6% | ||
| Q4 24 | 12.4% | — | ||
| Q3 24 | 11.8% | 3.6% | ||
| Q2 24 | 11.7% | 4.9% |
每股收益（稀释后）CRSTNET
| Q1 26 | $2.77 | — | ||
| Q4 25 | $2.09 | $0.02 | ||
| Q3 25 | $2.43 | $0.70 | ||
| Q2 25 | $2.21 | $0.77 | ||
| Q1 25 | $1.88 | $1.71 | ||
| Q4 24 | $1.66 | $-0.44 | ||
| Q3 24 | $1.67 | $0.89 | ||
| Q2 24 | $1.85 | $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 | $294.8M | $287.0M |
| 总债务越低越好 | $690.4M | — |
| 股东权益账面价值 | $2.1B | $54.0M |
| 总资产 | $3.7B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.33× | — |
8季度趋势，按日历期对齐
现金及短期投资CRSTNET
| Q1 26 | $294.8M | — | ||
| Q4 25 | $231.9M | $287.0M | ||
| Q3 25 | $208.0M | $321.0M | ||
| Q2 25 | $315.5M | $407.0M | ||
| Q1 25 | $151.5M | $349.0M | ||
| Q4 24 | $162.1M | $360.0M | ||
| Q3 24 | $150.2M | $301.0M | ||
| Q2 24 | $199.1M | $249.0M |
总债务CRSTNET
| Q1 26 | $690.4M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CRSTNET
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.0B | $54.0M | ||
| Q3 25 | $1.9B | $110.0M | ||
| Q2 25 | $1.9B | $107.0M | ||
| Q1 25 | $1.8B | $63.0M | ||
| Q4 24 | $1.7B | $69.0M | ||
| Q3 24 | $1.7B | $129.0M | ||
| Q2 24 | $1.6B | $100.0M |
总资产CRSTNET
| Q1 26 | $3.7B | — | ||
| Q4 25 | $3.5B | $3.8B | ||
| Q3 25 | $3.4B | $3.4B | ||
| Q2 25 | $3.5B | $3.7B | ||
| Q1 25 | $3.4B | $3.8B | ||
| Q4 24 | $3.3B | $4.1B | ||
| Q3 24 | $3.3B | $3.7B | ||
| Q2 24 | $3.3B | $3.7B |
负债/权益比CRSTNET
| Q1 26 | 0.33× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $124.8M | $43.0M |
| 自由现金流率自由现金流/营收 | 15.4% | 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 | $407.5M | $234.0M |
8季度趋势，按日历期对齐
经营现金流CRSTNET
| Q1 26 | — | — | ||
| Q4 25 | $132.2M | $61.0M | ||
| Q3 25 | $39.2M | $72.0M | ||
| Q2 25 | $258.1M | $75.0M | ||
| Q1 25 | $74.2M | $95.0M | ||
| Q4 24 | $67.9M | $65.0M | ||
| Q3 24 | $40.2M | $84.0M | ||
| Q2 24 | $169.5M | $39.0M |
自由现金流CRSTNET
| Q1 26 | $124.8M | — | ||
| Q4 25 | $85.9M | $43.0M | ||
| Q3 25 | $-3.4M | $55.0M | ||
| Q2 25 | $200.2M | $57.0M | ||
| Q1 25 | $34.0M | $79.0M | ||
| Q4 24 | $38.6M | $47.0M | ||
| Q3 24 | $13.3M | $59.0M | ||
| Q2 24 | $141.8M | $22.0M |
自由现金流率CRSTNET
| Q1 26 | 15.4% | — | ||
| Q4 25 | 11.8% | 3.4% | ||
| Q3 25 | -0.5% | 4.5% | ||
| Q2 25 | 26.5% | 4.6% | ||
| Q1 25 | 4.7% | 6.1% | ||
| Q4 24 | 5.7% | 3.7% | ||
| Q3 24 | 1.9% | 4.8% | ||
| Q2 24 | 17.8% | 1.8% |
资本支出强度CRSTNET
| Q1 26 | — | — | ||
| Q4 25 | 6.4% | 1.4% | ||
| Q3 25 | 5.8% | 1.4% | ||
| Q2 25 | 7.7% | 1.5% | ||
| Q1 25 | 5.5% | 1.2% | ||
| Q4 24 | 4.3% | 1.4% | ||
| Q3 24 | 3.7% | 2.0% | ||
| Q2 24 | 3.5% | 1.4% |
现金转化率CRSTNET
| Q1 26 | — | — | ||
| Q4 25 | 1.26× | — | ||
| Q3 25 | 0.32× | 2.12× | ||
| Q2 25 | 2.31× | 2.03× | ||
| Q1 25 | 0.78× | 1.12× | ||
| Q4 24 | 0.81× | — | ||
| Q3 24 | 0.47× | 1.87× | ||
| Q2 24 | 1.81× | 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
CRS
| Aerospace and Defense | $435.6M | 54% |
| Surcharge revenue | $155.9M | 19% |
| Industrial and Consumer | $78.1M | 10% |
| Medical | $51.7M | 6% |
| Energy | $50.5M | 6% |
| Distribution | $20.4M | 3% |
| Transportation | $19.3M | 2% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
