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GRAPHIC PACKAGING HOLDING CO（GPK）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
GRAPHIC PACKAGING HOLDING CO的季度营收约是TRINET GROUP, INC.的1.7倍（$2.1B vs $1.2B），GRAPHIC PACKAGING HOLDING CO同比增速更快（0.2% vs -2.2%），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -3.5%）
Graphic Packaging Holding是总部位于美国佐治亚州亚特兰大的世界500强企业，专注于设计和生产商用产品包装解决方案，主营纸板及折叠纸盒业务，产品广泛应用于饮料、包装食品等各类热门消费品领域，在美国多州运营采用回收原料的纸板工厂。
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。
GPK vs TNET — 直观对比
营收规模更大
GPK
是对方的1.7倍
$1.2B
营收增速更快
GPK
高出2.4%
-2.2%
两年增速更快
TNET
近两年复合增速
-3.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.2B |
| 净利润 | $71.0M | — |
| 毛利率 | 14.1% | — |
| 营业利润率 | 7.4% | 0.1% |
| 净利率 | 3.4% | — |
| 营收同比 | 0.2% | -2.2% |
| 净利润同比 | -48.6% | — |
| 每股收益（稀释后） | $0.24 | $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GPKTNET
| Q4 25 | $2.1B | $1.2B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.1B | $1.3B | ||
| Q3 24 | $2.2B | $1.2B | ||
| Q2 24 | $2.2B | $1.2B | ||
| Q1 24 | $2.3B | $1.3B |
净利润GPKTNET
| Q4 25 | $71.0M | — | ||
| Q3 25 | $142.0M | $34.0M | ||
| Q2 25 | $104.0M | $37.0M | ||
| Q1 25 | $127.0M | $85.0M | ||
| Q4 24 | $138.0M | — | ||
| Q3 24 | $165.0M | $45.0M | ||
| Q2 24 | $190.0M | $60.0M | ||
| Q1 24 | $165.0M | $91.0M |
毛利率GPKTNET
| Q4 25 | 14.1% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 18.7% | — | ||
| Q1 25 | 20.6% | — | ||
| Q4 24 | 21.4% | — | ||
| Q3 24 | 22.3% | — | ||
| Q2 24 | 21.2% | — | ||
| Q1 24 | 23.0% | — |
营业利润率GPKTNET
| Q4 25 | 7.4% | 0.1% | ||
| Q3 25 | 10.7% | 4.1% | ||
| Q2 25 | 8.8% | 4.1% | ||
| Q1 25 | 10.5% | 8.9% | ||
| Q4 24 | 11.4% | -2.9% | ||
| Q3 24 | 12.6% | 4.7% | ||
| Q2 24 | 14.5% | 6.5% | ||
| Q1 24 | 12.4% | 9.7% |
净利率GPKTNET
| Q4 25 | 3.4% | — | ||
| Q3 25 | 6.5% | 2.8% | ||
| Q2 25 | 4.7% | 3.0% | ||
| Q1 25 | 6.0% | 6.6% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 7.5% | 3.6% | ||
| Q2 24 | 8.5% | 4.9% | ||
| Q1 24 | 7.3% | 7.2% |
每股收益（稀释后）GPKTNET
| Q4 25 | $0.24 | $0.02 | ||
| Q3 25 | $0.48 | $0.70 | ||
| Q2 25 | $0.34 | $0.77 | ||
| Q1 25 | $0.42 | $1.71 | ||
| Q4 24 | $0.46 | $-0.44 | ||
| Q3 24 | $0.55 | $0.89 | ||
| Q2 24 | $0.62 | $1.20 | ||
| Q1 24 | $0.53 | $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 | $261.0M | $287.0M |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $3.3B | $54.0M |
| 总资产 | $11.8B | $3.8B |
| 负债/权益比越低杠杆越低 | 1.51× | — |
8季度趋势，按日历期对齐
现金及短期投资GPKTNET
| Q4 25 | $261.0M | $287.0M | ||
| Q3 25 | $120.0M | $321.0M | ||
| Q2 25 | $120.0M | $407.0M | ||
| Q1 25 | $129.0M | $349.0M | ||
| Q4 24 | $157.0M | $360.0M | ||
| Q3 24 | $126.0M | $301.0M | ||
| Q2 24 | $125.0M | $249.0M | ||
| Q1 24 | $136.0M | $383.0M |
总债务GPKTNET
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $5.4B | — | ||
| Q2 24 | $4.9B | — | ||
| Q1 24 | $4.9B | — |
股东权益GPKTNET
| Q4 25 | $3.3B | $54.0M | ||
| Q3 25 | $3.3B | $110.0M | ||
| Q2 25 | $3.2B | $107.0M | ||
| Q1 25 | $3.2B | $63.0M | ||
| Q4 24 | $3.0B | $69.0M | ||
| Q3 24 | $3.0B | $129.0M | ||
| Q2 24 | $2.8B | $100.0M | ||
| Q1 24 | $2.9B | $143.0M |
总资产GPKTNET
| Q4 25 | $11.8B | $3.8B | ||
| Q3 25 | $11.9B | $3.4B | ||
| Q2 25 | $11.8B | $3.7B | ||
| Q1 25 | $11.5B | $3.8B | ||
| Q4 24 | $11.1B | $4.1B | ||
| Q3 24 | $11.2B | $3.7B | ||
| Q2 24 | $10.8B | $3.7B | ||
| Q1 24 | $11.3B | $4.0B |
负债/权益比GPKTNET
| Q4 25 | 1.51× | — | ||
| Q3 25 | 1.67× | — | ||
| Q2 25 | 1.68× | — | ||
| Q1 25 | 1.80× | — | ||
| Q4 24 | 1.71× | — | ||
| Q3 24 | 1.79× | — | ||
| Q2 24 | 1.75× | — | ||
| Q1 24 | 1.73× | — |
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 | $521.0M | $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 | 7.34× | — |
| 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GPKTNET
| Q4 25 | $521.0M | $61.0M | ||
| Q3 25 | $227.0M | $72.0M | ||
| Q2 25 | $267.0M | $75.0M | ||
| Q1 25 | $-174.0M | $95.0M | ||
| Q4 24 | $489.0M | $65.0M | ||
| Q3 24 | $187.0M | $84.0M | ||
| Q2 24 | $161.0M | $39.0M | ||
| Q1 24 | $3.0M | $91.0M |
自由现金流GPKTNET
| 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GPKTNET
| 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GPKTNET
| 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GPKTNET
| Q4 25 | 7.34× | — | ||
| Q3 25 | 1.60× | 2.12× | ||
| Q2 25 | 2.57× | 2.03× | ||
| Q1 25 | -1.37× | 1.12× | ||
| Q4 24 | 3.54× | — | ||
| Q3 24 | 1.13× | 1.87× | ||
| Q2 24 | 0.85× | 0.65× | ||
| Q1 24 | 0.02× | 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
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
