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Fortrea Holdings Inc.（FTRE）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Fortrea Holdings Inc.的1.9倍（$1.2B vs $660.5M），TRINET GROUP, INC.同比增速更快（-2.2% vs -5.2%），Fortrea Holdings Inc.自由现金流更多（$121.6M vs $43.0M），过去两年Fortrea Holdings Inc.的营收复合增速更高（-0.1% vs -0.6%）
Fortrea Holdings Inc.是一家总部位于美国北卡罗来纳州达勒姆、注册地为特拉华州的合同研究组织，业务覆盖90个国家，主要服务制药、生物技术和医疗器械行业客户，为相关领域的研发提供专业支持。
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。
FTRE vs TNET — 直观对比
营收规模更大
TNET
是对方的1.9倍
$660.5M
营收增速更快
TNET
高出3.0%
-5.2%
自由现金流更多
FTRE
多$78.6M
$43.0M
两年增速更快
FTRE
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $660.5M | $1.2B |
| 净利润 | $-32.5M | — |
| 毛利率 | — | — |
| 营业利润率 | -2.1% | 0.1% |
| 净利率 | -4.9% | — |
| 营收同比 | -5.2% | -2.2% |
| 净利润同比 | 46.9% | — |
| 每股收益（稀释后） | $-0.25 | $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FTRETNET
| Q4 25 | $660.5M | $1.2B | ||
| Q3 25 | $701.3M | $1.2B | ||
| Q2 25 | $710.3M | $1.2B | ||
| Q1 25 | $651.3M | $1.3B | ||
| Q4 24 | $697.0M | $1.3B | ||
| Q3 24 | $674.9M | $1.2B | ||
| Q2 24 | $662.4M | $1.2B | ||
| Q1 24 | $662.1M | $1.3B |
净利润FTRETNET
| Q4 25 | $-32.5M | — | ||
| Q3 25 | $-15.9M | $34.0M | ||
| Q2 25 | $-374.9M | $37.0M | ||
| Q1 25 | $-562.9M | $85.0M | ||
| Q4 24 | $-61.2M | — | ||
| Q3 24 | $-27.9M | $45.0M | ||
| Q2 24 | $-138.4M | $60.0M | ||
| Q1 24 | $-101.0M | $91.0M |
营业利润率FTRETNET
| Q4 25 | -2.1% | 0.1% | ||
| Q3 25 | -1.2% | 4.1% | ||
| Q2 25 | -46.5% | 4.1% | ||
| Q1 25 | -79.9% | 8.9% | ||
| Q4 24 | -8.0% | -2.9% | ||
| Q3 24 | -2.7% | 4.7% | ||
| Q2 24 | -7.7% | 6.5% | ||
| Q1 24 | -5.6% | 9.7% |
净利率FTRETNET
| Q4 25 | -4.9% | — | ||
| Q3 25 | -2.3% | 2.8% | ||
| Q2 25 | -52.8% | 3.0% | ||
| Q1 25 | -86.4% | 6.6% | ||
| Q4 24 | -8.8% | — | ||
| Q3 24 | -4.1% | 3.6% | ||
| Q2 24 | -20.9% | 4.9% | ||
| Q1 24 | -15.3% | 7.2% |
每股收益（稀释后）FTRETNET
| Q4 25 | $-0.25 | $0.02 | ||
| Q3 25 | $-0.17 | $0.70 | ||
| Q2 25 | $-4.14 | $0.77 | ||
| Q1 25 | $-6.25 | $1.71 | ||
| Q4 24 | $-0.68 | $-0.44 | ||
| Q3 24 | $-0.31 | $0.89 | ||
| Q2 24 | $-1.55 | $1.20 | ||
| Q1 24 | $-1.13 | $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 | $174.6M | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $563.5M | $54.0M |
| 总资产 | $2.7B | $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FTRETNET
| Q4 25 | $174.6M | $287.0M | ||
| Q3 25 | $131.3M | $321.0M | ||
| Q2 25 | $81.2M | $407.0M | ||
| Q1 25 | $101.6M | $349.0M | ||
| Q4 24 | $118.5M | $360.0M | ||
| Q3 24 | $105.3M | $301.0M | ||
| Q2 24 | $126.2M | $249.0M | ||
| Q1 24 | $92.8M | $383.0M |
股东权益FTRETNET
| Q4 25 | $563.5M | $54.0M | ||
| Q3 25 | $580.8M | $110.0M | ||
| Q2 25 | $589.2M | $107.0M | ||
| Q1 25 | $858.8M | $63.0M | ||
| Q4 24 | $1.4B | $69.0M | ||
| Q3 24 | $1.5B | $129.0M | ||
| Q2 24 | $1.5B | $100.0M | ||
| Q1 24 | $1.6B | $143.0M |
总资产FTRETNET
| Q4 25 | $2.7B | $3.8B | ||
| Q3 25 | $2.7B | $3.4B | ||
| Q2 25 | $2.8B | $3.7B | ||
| Q1 25 | $3.1B | $3.8B | ||
| Q4 24 | $3.6B | $4.1B | ||
| Q3 24 | $3.7B | $3.7B | ||
| Q2 24 | $3.6B | $3.7B | ||
| Q1 24 | $4.2B | $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 | $129.1M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $121.6M | $43.0M |
| 自由现金流率自由现金流/营收 | 18.4% | 3.4% |
| 资本支出强度资本支出/营收 | 1.1% | 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 | $88.3M | $234.0M |
8季度趋势，按日历期对齐
经营现金流FTRETNET
| Q4 25 | $129.1M | $61.0M | ||
| Q3 25 | $86.8M | $72.0M | ||
| Q2 25 | $21.8M | $75.0M | ||
| Q1 25 | $-124.2M | $95.0M | ||
| Q4 24 | $17.1M | $65.0M | ||
| Q3 24 | $-2.4M | $84.0M | ||
| Q2 24 | $273.7M | $39.0M | ||
| Q1 24 | $-25.6M | $91.0M |
自由现金流FTRETNET
| Q4 25 | $121.6M | $43.0M | ||
| Q3 25 | $79.5M | $55.0M | ||
| Q2 25 | $14.3M | $57.0M | ||
| Q1 25 | $-127.1M | $79.0M | ||
| Q4 24 | $13.9M | $47.0M | ||
| Q3 24 | $-10.6M | $59.0M | ||
| Q2 24 | $262.5M | $22.0M | ||
| Q1 24 | $-34.9M | $73.0M |
自由现金流率FTRETNET
| Q4 25 | 18.4% | 3.4% | ||
| Q3 25 | 11.3% | 4.5% | ||
| Q2 25 | 2.0% | 4.6% | ||
| Q1 25 | -19.5% | 6.1% | ||
| Q4 24 | 2.0% | 3.7% | ||
| Q3 24 | -1.6% | 4.8% | ||
| Q2 24 | 39.6% | 1.8% | ||
| Q1 24 | -5.3% | 5.8% |
资本支出强度FTRETNET
| Q4 25 | 1.1% | 1.4% | ||
| Q3 25 | 1.0% | 1.4% | ||
| Q2 25 | 1.1% | 1.5% | ||
| Q1 25 | 0.4% | 1.2% | ||
| Q4 24 | 0.5% | 1.4% | ||
| Q3 24 | 1.2% | 2.0% | ||
| Q2 24 | 1.7% | 1.4% | ||
| Q1 24 | 1.4% | 1.4% |
现金转化率FTRETNET
| Q4 25 | — | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | — | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | — | 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
FTRE
暂无分部数据
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
