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格罗方德（GFS）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
格罗方德的季度营收约是TRINET GROUP, INC.的1.4倍（$1.7B vs $1.2B），TRINET GROUP, INC.同比增速更快（-2.2% vs -2.9%），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -4.3%）
格罗方德是跨国半导体代工及设计企业，注册地为开曼群岛，总部位于美国纽约州马耳他。公司2009年3月由AMD制造业务分拆成立，2021年10月完成首次公开募股，阿联酋主权财富基金穆巴达拉投资公司目前仍持有其82%的多数股权。
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。
GFS vs TNET — 直观对比
营收规模更大
GFS
是对方的1.4倍
$1.2B
营收增速更快
TNET
高出0.7%
-2.9%
两年增速更快
TNET
近两年复合增速
-4.3%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.2B |
| 净利润 | $249.0M | — |
| 毛利率 | 24.8% | — |
| 营业利润率 | 11.6% | 0.1% |
| 净利率 | 14.8% | — |
| 营收同比 | -2.9% | -2.2% |
| 净利润同比 | 39.9% | — |
| 每股收益（稀释后） | $0.44 | $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GFSTNET
| Q4 25 | — | $1.2B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $1.7B | $1.2B | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.5B | $1.3B |
净利润GFSTNET
| Q4 25 | — | — | ||
| Q3 25 | $249.0M | $34.0M | ||
| Q2 25 | $228.0M | $37.0M | ||
| Q1 25 | $211.0M | $85.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $178.0M | $45.0M | ||
| Q2 24 | $155.0M | $60.0M | ||
| Q1 24 | $134.0M | $91.0M |
毛利率GFSTNET
| Q4 25 | — | — | ||
| Q3 25 | 24.8% | — | ||
| Q2 25 | 24.2% | — | ||
| Q1 25 | 22.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 23.8% | — | ||
| Q2 24 | 24.2% | — | ||
| Q1 24 | 25.4% | — |
营业利润率GFSTNET
| Q4 25 | — | 0.1% | ||
| Q3 25 | 11.6% | 4.1% | ||
| Q2 25 | 11.6% | 4.1% | ||
| Q1 25 | 9.5% | 8.9% | ||
| Q4 24 | — | -2.9% | ||
| Q3 24 | 10.6% | 4.7% | ||
| Q2 24 | 9.5% | 6.5% | ||
| Q1 24 | 9.5% | 9.7% |
净利率GFSTNET
| Q4 25 | — | — | ||
| Q3 25 | 14.8% | 2.8% | ||
| Q2 25 | 13.5% | 3.0% | ||
| Q1 25 | 13.3% | 6.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | 10.2% | 3.6% | ||
| Q2 24 | 9.5% | 4.9% | ||
| Q1 24 | 8.7% | 7.2% |
每股收益（稀释后）GFSTNET
| Q4 25 | — | $0.02 | ||
| Q3 25 | $0.44 | $0.70 | ||
| Q2 25 | $0.41 | $0.77 | ||
| Q1 25 | $0.38 | $1.71 | ||
| Q4 24 | — | $-0.44 | ||
| Q3 24 | $0.32 | $0.89 | ||
| Q2 24 | $0.28 | $1.20 | ||
| Q1 24 | $0.24 | $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 | $2.0B | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $11.8B | $54.0M |
| 总资产 | $16.7B | $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GFSTNET
| Q4 25 | — | $287.0M | ||
| Q3 25 | $2.0B | $321.0M | ||
| Q2 25 | $1.8B | $407.0M | ||
| Q1 25 | $1.6B | $349.0M | ||
| Q4 24 | — | $360.0M | ||
| Q3 24 | $2.3B | $301.0M | ||
| Q2 24 | $2.2B | $249.0M | ||
| Q1 24 | $2.2B | $383.0M |
股东权益GFSTNET
| Q4 25 | — | $54.0M | ||
| Q3 25 | $11.8B | $110.0M | ||
| Q2 25 | $11.5B | $107.0M | ||
| Q1 25 | $11.1B | $63.0M | ||
| Q4 24 | — | $69.0M | ||
| Q3 24 | $11.6B | $129.0M | ||
| Q2 24 | $11.3B | $100.0M | ||
| Q1 24 | $11.3B | $143.0M |
总资产GFSTNET
| Q4 25 | — | $3.8B | ||
| Q3 25 | $16.7B | $3.4B | ||
| Q2 25 | $16.8B | $3.7B | ||
| Q1 25 | $16.5B | $3.8B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | $18.1B | $3.7B | ||
| Q2 24 | — | $3.7B | ||
| Q1 24 | — | $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 | $595.0M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | — | $43.0M |
| 自由现金流率自由现金流/营收 | — | 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 | 2.39× | — |
| 过去12个月自由现金流最近4个季度 | — | $234.0M |
8季度趋势，按日历期对齐
经营现金流GFSTNET
| Q4 25 | — | $61.0M | ||
| Q3 25 | $595.0M | $72.0M | ||
| Q2 25 | $431.0M | $75.0M | ||
| Q1 25 | $331.0M | $95.0M | ||
| Q4 24 | — | $65.0M | ||
| Q3 24 | $375.0M | $84.0M | ||
| Q2 24 | $402.0M | $39.0M | ||
| Q1 24 | $488.0M | $91.0M |
自由现金流GFSTNET
| Q4 25 | — | $43.0M | ||
| Q3 25 | — | $55.0M | ||
| Q2 25 | — | $57.0M | ||
| Q1 25 | — | $79.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | — | $59.0M | ||
| Q2 24 | — | $22.0M | ||
| Q1 24 | — | $73.0M |
自由现金流率GFSTNET
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 1.8% | ||
| Q1 24 | — | 5.8% |
资本支出强度GFSTNET
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 1.4% |
现金转化率GFSTNET
| Q4 25 | — | — | ||
| Q3 25 | 2.39× | 2.12× | ||
| Q2 25 | 1.89× | 2.03× | ||
| Q1 25 | 1.57× | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.11× | 1.87× | ||
| Q2 24 | 2.59× | 0.65× | ||
| Q1 24 | 3.64× | 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
GFS
| Smart Mobile Devices | $752.0M | 45% |
| Automotive | $306.0M | 18% |
| Home And Industrial Io T | $258.0M | 15% |
| Goods Or Services Transferred Over Time | $198.0M | 12% |
| Communications Infrastructure Datacenter | $175.0M | 10% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
