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GENMAB A/S（GMAB）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GENMAB A/S的1.3倍（$1.2B vs $925.0M），GENMAB A/S同比增速更快（18.7% vs -2.2%），GENMAB A/S自由现金流更多（$327.0M vs $43.0M）
Genmab A/S是丹麦生物技术企业，1999年2月由原BankInvest生物医药风险基金董事总经理Florian Schönharting创立，总部位于丹麦哥本哈根，在荷兰乌得勒支、美国新泽西州普林斯顿、日本东京、德国慕尼黑及中国苏州均设有子公司，深耕生物科技领域的研发与运营。
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。
GMAB vs TNET — 直观对比
营收规模更大
TNET
是对方的1.3倍
$925.0M
营收增速更快
GMAB
高出20.9%
-2.2%
自由现金流更多
GMAB
多$284.0M
$43.0M
损益表 — Q2 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $925.0M | $1.2B |
| 净利润 | $336.0M | — |
| 毛利率 | 93.8% | — |
| 营业利润率 | 38.9% | 0.1% |
| 净利率 | 36.3% | — |
| 营收同比 | 18.7% | -2.2% |
| 净利润同比 | 65.5% | — |
| 每股收益（稀释后） | $5.42 | $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GMABTNET
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | $925.0M | $1.2B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | $779.0M | $1.2B | ||
| Q1 24 | — | $1.3B |
净利润GMABTNET
| Q4 25 | — | — | ||
| Q3 25 | — | $34.0M | ||
| Q2 25 | $336.0M | $37.0M | ||
| Q1 25 | — | $85.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $45.0M | ||
| Q2 24 | $203.0M | $60.0M | ||
| Q1 24 | — | $91.0M |
毛利率GMABTNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 93.8% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 96.4% | — | ||
| Q1 24 | — | — |
营业利润率GMABTNET
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | 38.9% | 4.1% | ||
| Q1 25 | — | 8.9% | ||
| Q4 24 | — | -2.9% | ||
| Q3 24 | — | 4.7% | ||
| Q2 24 | 30.3% | 6.5% | ||
| Q1 24 | — | 9.7% |
净利率GMABTNET
| Q4 25 | — | — | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | 36.3% | 3.0% | ||
| Q1 25 | — | 6.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | 26.1% | 4.9% | ||
| Q1 24 | — | 7.2% |
每股收益（稀释后）GMABTNET
| Q4 25 | — | $0.02 | ||
| Q3 25 | — | $0.70 | ||
| Q2 25 | $5.42 | $0.77 | ||
| Q1 25 | — | $1.71 | ||
| Q4 24 | — | $-0.44 | ||
| Q3 24 | — | $0.89 | ||
| Q2 24 | $3.13 | $1.20 | ||
| Q1 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 | $1.3B | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $5.3B | $54.0M |
| 总资产 | $6.5B | $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GMABTNET
| Q4 25 | — | $287.0M | ||
| Q3 25 | — | $321.0M | ||
| Q2 25 | $1.3B | $407.0M | ||
| Q1 25 | — | $349.0M | ||
| Q4 24 | — | $360.0M | ||
| Q3 24 | — | $301.0M | ||
| Q2 24 | $622.0M | $249.0M | ||
| Q1 24 | — | $383.0M |
股东权益GMABTNET
| Q4 25 | — | $54.0M | ||
| Q3 25 | — | $110.0M | ||
| Q2 25 | $5.3B | $107.0M | ||
| Q1 25 | — | $63.0M | ||
| Q4 24 | — | $69.0M | ||
| Q3 24 | — | $129.0M | ||
| Q2 24 | $4.4B | $100.0M | ||
| Q1 24 | — | $143.0M |
总资产GMABTNET
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.4B | ||
| Q2 25 | $6.5B | $3.7B | ||
| Q1 25 | — | $3.8B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | — | $3.7B | ||
| Q2 24 | $5.6B | $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 | $349.0M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $327.0M | $43.0M |
| 自由现金流率自由现金流/营收 | 35.4% | 3.4% |
| 资本支出强度资本支出/营收 | 2.4% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.04× | — |
| 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GMABTNET
| Q4 25 | — | $61.0M | ||
| Q3 25 | — | $72.0M | ||
| Q2 25 | $349.0M | $75.0M | ||
| Q1 25 | — | $95.0M | ||
| Q4 24 | — | $65.0M | ||
| Q3 24 | — | $84.0M | ||
| Q2 24 | $438.0M | $39.0M | ||
| Q1 24 | — | $91.0M |
自由现金流GMABTNET
| Q4 25 | — | $43.0M | ||
| Q3 25 | — | $55.0M | ||
| Q2 25 | $327.0M | $57.0M | ||
| Q1 25 | — | $79.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | — | $59.0M | ||
| Q2 24 | $430.0M | $22.0M | ||
| Q1 24 | — | $73.0M |
自由现金流率GMABTNET
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | 35.4% | 4.6% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | 55.2% | 1.8% | ||
| Q1 24 | — | 5.8% |
资本支出强度GMABTNET
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | 2.4% | 1.5% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | 1.0% | 1.4% | ||
| Q1 24 | — | 1.4% |
现金转化率GMABTNET
| Q4 25 | — | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | 1.04× | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | 2.16× | 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
GMAB
| Darzalex | $638.0M | 69% |
| Kesimpta | $108.0M | 12% |
| Net Product Sales | $101.0M | 11% |
| Other | $28.0M | 3% |
| Tepezza | $20.0M | 2% |
| Reimbursement Revenue | $13.0M | 1% |
| Bio N Tech | $11.0M | 1% |
| Abb Vie | $5.0M | 1% |
| Milestone Revenue | $1.0M | 0% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
