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Datadog（DDOG）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Datadog的1.3倍（$1.2B vs $953.2M），Datadog同比增速更快（29.2% vs -2.2%），Datadog自由现金流更多（$318.2M vs $43.0M），过去两年Datadog的营收复合增速更高（24.9% vs -0.6%）
Datadog是一家美国企业，为云级应用提供可观测性服务，旗下SaaS数据分析平台可实现对服务器、数据库、各类工具及服务的统一监控。公司成立并总部位于纽约，目前在纳斯达克证券交易所公开上市。
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。
DDOG vs TNET — 直观对比
营收规模更大
TNET
是对方的1.3倍
$953.2M
营收增速更快
DDOG
高出31.4%
-2.2%
自由现金流更多
DDOG
多$275.2M
$43.0M
两年增速更快
DDOG
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $953.2M | $1.2B |
| 净利润 | $46.6M | — |
| 毛利率 | 80.4% | — |
| 营业利润率 | 1.0% | 0.1% |
| 净利率 | 4.9% | — |
| 营收同比 | 29.2% | -2.2% |
| 净利润同比 | 2.1% | — |
| 每股收益（稀释后） | $0.13 | $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DDOGTNET
| Q4 25 | $953.2M | $1.2B | ||
| Q3 25 | $885.7M | $1.2B | ||
| Q2 25 | $826.8M | $1.2B | ||
| Q1 25 | $761.6M | $1.3B | ||
| Q4 24 | $737.7M | $1.3B | ||
| Q3 24 | $690.0M | $1.2B | ||
| Q2 24 | $645.3M | $1.2B | ||
| Q1 24 | $611.3M | $1.3B |
净利润DDOGTNET
| Q4 25 | $46.6M | — | ||
| Q3 25 | $33.9M | $34.0M | ||
| Q2 25 | $2.6M | $37.0M | ||
| Q1 25 | $24.6M | $85.0M | ||
| Q4 24 | $45.6M | — | ||
| Q3 24 | $51.7M | $45.0M | ||
| Q2 24 | $43.8M | $60.0M | ||
| Q1 24 | $42.6M | $91.0M |
毛利率DDOGTNET
| Q4 25 | 80.4% | — | ||
| Q3 25 | 80.1% | — | ||
| Q2 25 | 79.9% | — | ||
| Q1 25 | 79.3% | — | ||
| Q4 24 | 80.5% | — | ||
| Q3 24 | 80.0% | — | ||
| Q2 24 | 80.9% | — | ||
| Q1 24 | 82.0% | — |
营业利润率DDOGTNET
| Q4 25 | 1.0% | 0.1% | ||
| Q3 25 | -0.7% | 4.1% | ||
| Q2 25 | -4.3% | 4.1% | ||
| Q1 25 | -1.6% | 8.9% | ||
| Q4 24 | 1.3% | -2.9% | ||
| Q3 24 | 2.9% | 4.7% | ||
| Q2 24 | 2.0% | 6.5% | ||
| Q1 24 | 2.0% | 9.7% |
净利率DDOGTNET
| Q4 25 | 4.9% | — | ||
| Q3 25 | 3.8% | 2.8% | ||
| Q2 25 | 0.3% | 3.0% | ||
| Q1 25 | 3.2% | 6.6% | ||
| Q4 24 | 6.2% | — | ||
| Q3 24 | 7.5% | 3.6% | ||
| Q2 24 | 6.8% | 4.9% | ||
| Q1 24 | 7.0% | 7.2% |
每股收益（稀释后）DDOGTNET
| Q4 25 | $0.13 | $0.02 | ||
| Q3 25 | $0.10 | $0.70 | ||
| Q2 25 | $0.01 | $0.77 | ||
| Q1 25 | $0.07 | $1.71 | ||
| Q4 24 | $0.14 | $-0.44 | ||
| Q3 24 | $0.14 | $0.89 | ||
| Q2 24 | $0.12 | $1.20 | ||
| Q1 24 | $0.12 | $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 | $401.3M | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $54.0M |
| 总资产 | $6.6B | $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DDOGTNET
| Q4 25 | $401.3M | $287.0M | ||
| Q3 25 | $540.6M | $321.0M | ||
| Q2 25 | $489.0M | $407.0M | ||
| Q1 25 | $1.1B | $349.0M | ||
| Q4 24 | $1.2B | $360.0M | ||
| Q3 24 | $337.4M | $301.0M | ||
| Q2 24 | $411.0M | $249.0M | ||
| Q1 24 | $282.2M | $383.0M |
股东权益DDOGTNET
| Q4 25 | $3.7B | $54.0M | ||
| Q3 25 | $3.4B | $110.0M | ||
| Q2 25 | $3.2B | $107.0M | ||
| Q1 25 | $2.9B | $63.0M | ||
| Q4 24 | $2.7B | $69.0M | ||
| Q3 24 | $2.6B | $129.0M | ||
| Q2 24 | $2.4B | $100.0M | ||
| Q1 24 | $2.2B | $143.0M |
总资产DDOGTNET
| Q4 25 | $6.6B | $3.8B | ||
| Q3 25 | $6.1B | $3.4B | ||
| Q2 25 | $5.8B | $3.7B | ||
| Q1 25 | $6.0B | $3.8B | ||
| Q4 24 | $5.8B | $4.1B | ||
| Q3 24 | $4.6B | $3.7B | ||
| Q2 24 | $4.4B | $3.7B | ||
| Q1 24 | $4.1B | $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 | $327.1M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $318.2M | $43.0M |
| 自由现金流率自由现金流/营收 | 33.4% | 3.4% |
| 资本支出强度资本支出/营收 | 0.9% | 1.4% |
| 现金转化率经营现金流/净利润 | 7.02× | — |
| 过去12个月自由现金流最近4个季度 | $1.0B | $234.0M |
8季度趋势，按日历期对齐
经营现金流DDOGTNET
| Q4 25 | $327.1M | $61.0M | ||
| Q3 25 | $251.5M | $72.0M | ||
| Q2 25 | $200.1M | $75.0M | ||
| Q1 25 | $271.5M | $95.0M | ||
| Q4 24 | $265.2M | $65.0M | ||
| Q3 24 | $228.7M | $84.0M | ||
| Q2 24 | $164.4M | $39.0M | ||
| Q1 24 | $212.3M | $91.0M |
自由现金流DDOGTNET
| Q4 25 | $318.2M | $43.0M | ||
| Q3 25 | $234.7M | $55.0M | ||
| Q2 25 | $184.9M | $57.0M | ||
| Q1 25 | $262.8M | $79.0M | ||
| Q4 24 | $257.5M | $47.0M | ||
| Q3 24 | $220.3M | $59.0M | ||
| Q2 24 | $160.0M | $22.0M | ||
| Q1 24 | $198.1M | $73.0M |
自由现金流率DDOGTNET
| Q4 25 | 33.4% | 3.4% | ||
| Q3 25 | 26.5% | 4.5% | ||
| Q2 25 | 22.4% | 4.6% | ||
| Q1 25 | 34.5% | 6.1% | ||
| Q4 24 | 34.9% | 3.7% | ||
| Q3 24 | 31.9% | 4.8% | ||
| Q2 24 | 24.8% | 1.8% | ||
| Q1 24 | 32.4% | 5.8% |
资本支出强度DDOGTNET
| Q4 25 | 0.9% | 1.4% | ||
| Q3 25 | 1.9% | 1.4% | ||
| Q2 25 | 1.8% | 1.5% | ||
| Q1 25 | 1.1% | 1.2% | ||
| Q4 24 | 1.1% | 1.4% | ||
| Q3 24 | 1.2% | 2.0% | ||
| Q2 24 | 0.7% | 1.4% | ||
| Q1 24 | 2.3% | 1.4% |
现金转化率DDOGTNET
| Q4 25 | 7.02× | — | ||
| Q3 25 | 7.42× | 2.12× | ||
| Q2 25 | 75.58× | 2.03× | ||
| Q1 25 | 11.02× | 1.12× | ||
| Q4 24 | 5.82× | — | ||
| Q3 24 | 4.42× | 1.87× | ||
| Q2 24 | 3.75× | 0.65× | ||
| Q1 24 | 4.98× | 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
DDOG
| North America | $678.7M | 71% |
| International | $274.5M | 29% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
