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FMC CORP（FMC）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FMC CORP的1.6倍（$1.2B vs $759.0M），TRINET GROUP, INC.同比增速更快（-2.2% vs -4.0%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $-628.1M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -14.5%）
FMC公司是总部位于美国宾夕法尼亚州费城的化工制造企业，1883年创立之初以生产杀虫剂为主，后续逐步拓展业务至其他领域。二战期间曾为美国陆军部设计生产两栖履带登陆车，目前在全球拥有7000名员工，业务布局广泛。
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。
FMC vs TNET — 直观对比
营收规模更大
TNET
是对方的1.6倍
$759.0M
营收增速更快
TNET
高出1.9%
-4.0%
自由现金流更多
TNET
多$671.1M
$-628.1M
两年增速更快
TNET
近两年复合增速
-14.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $759.0M | $1.2B |
| 净利润 | $-281.2M | — |
| 毛利率 | — | — |
| 营业利润率 | -10.6% | 0.1% |
| 净利率 | -37.0% | — |
| 营收同比 | -4.0% | -2.2% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-2.25 | $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FMCTNET
| Q1 26 | $759.0M | — | ||
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $542.2M | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $791.4M | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.0B | $1.2B |
净利润FMCTNET
| Q1 26 | $-281.2M | — | ||
| Q4 25 | $-1.7B | — | ||
| Q3 25 | $-569.3M | $34.0M | ||
| Q2 25 | $66.7M | $37.0M | ||
| Q1 25 | $-15.5M | $85.0M | ||
| Q4 24 | $-16.3M | — | ||
| Q3 24 | $65.0M | $45.0M | ||
| Q2 24 | $295.1M | $60.0M |
毛利率FMCTNET
| Q1 26 | — | — | ||
| Q4 25 | 39.8% | — | ||
| Q3 25 | 23.8% | — | ||
| Q2 25 | 38.7% | — | ||
| Q1 25 | 40.0% | — | ||
| Q4 24 | 42.9% | — | ||
| Q3 24 | 36.3% | — | ||
| Q2 24 | 38.3% | — |
营业利润率FMCTNET
| Q1 26 | -10.6% | — | ||
| Q4 25 | -130.8% | 0.1% | ||
| Q3 25 | -73.1% | 4.1% | ||
| Q2 25 | 12.0% | 4.1% | ||
| Q1 25 | 7.4% | 8.9% | ||
| Q4 24 | 19.2% | -2.9% | ||
| Q3 24 | 12.7% | 4.7% | ||
| Q2 24 | 6.0% | 6.5% |
净利率FMCTNET
| Q1 26 | -37.0% | — | ||
| Q4 25 | -158.8% | — | ||
| Q3 25 | -105.0% | 2.8% | ||
| Q2 25 | 6.3% | 3.0% | ||
| Q1 25 | -2.0% | 6.6% | ||
| Q4 24 | -1.3% | — | ||
| Q3 24 | 6.1% | 3.6% | ||
| Q2 24 | 28.4% | 4.9% |
每股收益（稀释后）FMCTNET
| Q1 26 | $-2.25 | — | ||
| Q4 25 | $-13.77 | $0.02 | ||
| Q3 25 | $-4.52 | $0.70 | ||
| Q2 25 | $0.53 | $0.77 | ||
| Q1 25 | $-0.12 | $1.71 | ||
| Q4 24 | $-0.13 | $-0.44 | ||
| Q3 24 | $0.52 | $0.89 | ||
| Q2 24 | $2.35 | $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 | $390.9M | $287.0M |
| 总债务越低越好 | $2.8B | — |
| 股东权益账面价值 | $1.8B | $54.0M |
| 总资产 | $9.4B | $3.8B |
| 负债/权益比越低杠杆越低 | 1.50× | — |
8季度趋势，按日历期对齐
现金及短期投资FMCTNET
| Q1 26 | $390.9M | — | ||
| Q4 25 | $584.5M | $287.0M | ||
| Q3 25 | $497.7M | $321.0M | ||
| Q2 25 | $438.2M | $407.0M | ||
| Q1 25 | $315.3M | $349.0M | ||
| Q4 24 | $357.3M | $360.0M | ||
| Q3 24 | $416.7M | $301.0M | ||
| Q2 24 | $471.5M | $249.0M |
总债务FMCTNET
| Q1 26 | $2.8B | — | ||
| Q4 25 | $3.4B | — | ||
| Q3 25 | $3.4B | — | ||
| Q2 25 | $3.4B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — |
股东权益FMCTNET
| Q1 26 | $1.8B | — | ||
| Q4 25 | $2.1B | $54.0M | ||
| Q3 25 | $3.8B | $110.0M | ||
| Q2 25 | $4.4B | $107.0M | ||
| Q1 25 | $4.4B | $63.0M | ||
| Q4 24 | $4.5B | $69.0M | ||
| Q3 24 | $4.6B | $129.0M | ||
| Q2 24 | $4.6B | $100.0M |
总资产FMCTNET
| Q1 26 | $9.4B | — | ||
| Q4 25 | $9.7B | $3.8B | ||
| Q3 25 | $12.1B | $3.4B | ||
| Q2 25 | $12.3B | $3.7B | ||
| Q1 25 | $11.8B | $3.8B | ||
| Q4 24 | $11.7B | $4.1B | ||
| Q3 24 | $12.2B | $3.7B | ||
| Q2 24 | $12.1B | $3.7B |
负债/权益比FMCTNET
| Q1 26 | 1.50× | — | ||
| Q4 25 | 1.62× | — | ||
| Q3 25 | 0.89× | — | ||
| Q2 25 | 0.76× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 0.69× | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.68× | — |
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 | $-628.1M | $43.0M |
| 自由现金流率自由现金流/营收 | -82.8% | 3.4% |
| 资本支出强度资本支出/营收 | 2.2% | 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 | $-154.0M | $234.0M |
8季度趋势，按日历期对齐
经营现金流FMCTNET
| Q1 26 | — | — | ||
| Q4 25 | $657.1M | $61.0M | ||
| Q3 25 | $-184.2M | $72.0M | ||
| Q2 25 | $65.9M | $75.0M | ||
| Q1 25 | $-545.0M | $95.0M | ||
| Q4 24 | $427.9M | $65.0M | ||
| Q3 24 | $159.5M | $84.0M | ||
| Q2 24 | $292.2M | $39.0M |
自由现金流FMCTNET
| Q1 26 | $-628.1M | — | ||
| Q4 25 | $631.1M | $43.0M | ||
| Q3 25 | $-207.9M | $55.0M | ||
| Q2 25 | $50.9M | $57.0M | ||
| Q1 25 | $-576.6M | $79.0M | ||
| Q4 24 | $406.3M | $47.0M | ||
| Q3 24 | $143.8M | $59.0M | ||
| Q2 24 | $282.3M | $22.0M |
自由现金流率FMCTNET
| Q1 26 | -82.8% | — | ||
| Q4 25 | 58.3% | 3.4% | ||
| Q3 25 | -38.3% | 4.5% | ||
| Q2 25 | 4.8% | 4.6% | ||
| Q1 25 | -72.9% | 6.1% | ||
| Q4 24 | 33.2% | 3.7% | ||
| Q3 24 | 13.5% | 4.8% | ||
| Q2 24 | 27.2% | 1.8% |
资本支出强度FMCTNET
| Q1 26 | 2.2% | — | ||
| Q4 25 | 2.4% | 1.4% | ||
| Q3 25 | 4.4% | 1.4% | ||
| Q2 25 | 1.4% | 1.5% | ||
| Q1 25 | 4.0% | 1.2% | ||
| Q4 24 | 1.8% | 1.4% | ||
| Q3 24 | 1.5% | 2.0% | ||
| Q2 24 | 1.0% | 1.4% |
现金转化率FMCTNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | 0.99× | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.45× | 1.87× | ||
| Q2 24 | 0.99× | 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
FMC
| EMEA | $307.0M | 40% |
| North America | $198.0M | 26% |
| Latin America | $177.0M | 23% |
| Asia (excluding 2026 India) 1 | $81.0M | 11% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
