vs
IAC Inc.（IAC）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IAC Inc.的1.9倍（$1.2B vs $646.0M），TRINET GROUP, INC.同比增速更快（-2.2% vs -10.5%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $31.4M），过去两年IAC Inc.的营收复合增速更高（1.7% vs -0.6%）
IAC Inc.是一家美国控股企业，业务覆盖媒体与互联网领域，在全球拥有多个知名品牌。公司前身是1996年成立的HSN Inc.，当时作为家庭购物频道Home Shopping Network和USA电视台的控股主体运营，1999年更名为USA Networks Inc.，2002年将旗下电视业务资产出售给威望迪集团。
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。
IAC vs TNET — 直观对比
营收规模更大
TNET
是对方的1.9倍
$646.0M
营收增速更快
TNET
高出8.3%
-10.5%
自由现金流更多
TNET
多$11.6M
$31.4M
两年增速更快
IAC
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $646.0M | $1.2B |
| 净利润 | $-76.8M | — |
| 毛利率 | 69.8% | — |
| 营业利润率 | -17.5% | 0.1% |
| 净利率 | -11.9% | — |
| 营收同比 | -10.5% | -2.2% |
| 净利润同比 | 61.4% | — |
| 每股收益（稀释后） | $-0.96 | $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IACTNET
| Q4 25 | $646.0M | $1.2B | ||
| Q3 25 | $589.8M | $1.2B | ||
| Q2 25 | $586.9M | $1.2B | ||
| Q1 25 | $570.5M | $1.3B | ||
| Q4 24 | $721.4M | $1.3B | ||
| Q3 24 | $642.0M | $1.2B | ||
| Q2 24 | $634.4M | $1.2B | ||
| Q1 24 | $624.3M | $1.3B |
净利润IACTNET
| Q4 25 | $-76.8M | — | ||
| Q3 25 | $-21.9M | $34.0M | ||
| Q2 25 | $211.5M | $37.0M | ||
| Q1 25 | $-216.8M | $85.0M | ||
| Q4 24 | $-199.0M | — | ||
| Q3 24 | $-243.7M | $45.0M | ||
| Q2 24 | $-142.2M | $60.0M | ||
| Q1 24 | $45.0M | $91.0M |
毛利率IACTNET
| Q4 25 | 69.8% | — | ||
| Q3 25 | 64.8% | — | ||
| Q2 25 | 65.6% | — | ||
| Q1 25 | 64.0% | — | ||
| Q4 24 | 65.8% | — | ||
| Q3 24 | 62.1% | — | ||
| Q2 24 | 60.1% | — | ||
| Q1 24 | 58.4% | — |
营业利润率IACTNET
| Q4 25 | -17.5% | 0.1% | ||
| Q3 25 | -3.5% | 4.1% | ||
| Q2 25 | 0.1% | 4.1% | ||
| Q1 25 | 6.3% | 8.9% | ||
| Q4 24 | 6.7% | -2.9% | ||
| Q3 24 | 1.3% | 4.7% | ||
| Q2 24 | -3.4% | 6.5% | ||
| Q1 24 | -10.2% | 9.7% |
净利率IACTNET
| Q4 25 | -11.9% | — | ||
| Q3 25 | -3.7% | 2.8% | ||
| Q2 25 | 36.0% | 3.0% | ||
| Q1 25 | -38.0% | 6.6% | ||
| Q4 24 | -27.6% | — | ||
| Q3 24 | -38.0% | 3.6% | ||
| Q2 24 | -22.4% | 4.9% | ||
| Q1 24 | 7.2% | 7.2% |
每股收益（稀释后）IACTNET
| Q4 25 | $-0.96 | $0.02 | ||
| Q3 25 | $-0.27 | $0.70 | ||
| Q2 25 | $2.57 | $0.77 | ||
| Q1 25 | $-2.64 | $1.71 | ||
| Q4 24 | $-2.36 | $-0.44 | ||
| Q3 24 | $-2.93 | $0.89 | ||
| Q2 24 | $-1.71 | $1.20 | ||
| Q1 24 | $0.51 | $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 | $960.2M | $287.0M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $4.7B | $54.0M |
| 总资产 | $7.1B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.30× | — |
8季度趋势，按日历期对齐
现金及短期投资IACTNET
| Q4 25 | $960.2M | $287.0M | ||
| Q3 25 | $1.0B | $321.0M | ||
| Q2 25 | $1.1B | $407.0M | ||
| Q1 25 | $1.2B | $349.0M | ||
| Q4 24 | $1.4B | $360.0M | ||
| Q3 24 | $1.3B | $301.0M | ||
| Q2 24 | $1.3B | $249.0M | ||
| Q1 24 | $1.3B | $383.0M |
总债务IACTNET
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IACTNET
| Q4 25 | $4.7B | $54.0M | ||
| Q3 25 | $4.8B | $110.0M | ||
| Q2 25 | $4.9B | $107.0M | ||
| Q1 25 | $4.7B | $63.0M | ||
| Q4 24 | $5.6B | $69.0M | ||
| Q3 24 | $5.8B | $129.0M | ||
| Q2 24 | $6.0B | $100.0M | ||
| Q1 24 | $6.1B | $143.0M |
总资产IACTNET
| Q4 25 | $7.1B | $3.8B | ||
| Q3 25 | $7.2B | $3.4B | ||
| Q2 25 | $7.4B | $3.7B | ||
| Q1 25 | $7.2B | $3.8B | ||
| Q4 24 | $9.7B | $4.1B | ||
| Q3 24 | $9.8B | $3.7B | ||
| Q2 24 | $10.2B | $3.7B | ||
| Q1 24 | $10.4B | $4.0B |
负债/权益比IACTNET
| Q4 25 | 0.30× | — | ||
| Q3 25 | 0.30× | — | ||
| Q2 25 | 0.30× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $36.6M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $31.4M | $43.0M |
| 自由现金流率自由现金流/营收 | 4.9% | 3.4% |
| 资本支出强度资本支出/营收 | 0.8% | 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 | $44.8M | $234.0M |
8季度趋势，按日历期对齐
经营现金流IACTNET
| Q4 25 | $36.6M | $61.0M | ||
| Q3 25 | $30.1M | $72.0M | ||
| Q2 25 | $-2.8M | $75.0M | ||
| Q1 25 | $63.0K | $95.0M | ||
| Q4 24 | $110.1M | $65.0M | ||
| Q3 24 | $95.3M | $84.0M | ||
| Q2 24 | $85.0M | $39.0M | ||
| Q1 24 | $64.1M | $91.0M |
自由现金流IACTNET
| Q4 25 | $31.4M | $43.0M | ||
| Q3 25 | $25.3M | $55.0M | ||
| Q2 25 | $-7.2M | $57.0M | ||
| Q1 25 | $-4.6M | $79.0M | ||
| Q4 24 | $104.8M | $47.0M | ||
| Q3 24 | $92.0M | $59.0M | ||
| Q2 24 | $81.6M | $22.0M | ||
| Q1 24 | $61.1M | $73.0M |
自由现金流率IACTNET
| Q4 25 | 4.9% | 3.4% | ||
| Q3 25 | 4.3% | 4.5% | ||
| Q2 25 | -1.2% | 4.6% | ||
| Q1 25 | -0.8% | 6.1% | ||
| Q4 24 | 14.5% | 3.7% | ||
| Q3 24 | 14.3% | 4.8% | ||
| Q2 24 | 12.9% | 1.8% | ||
| Q1 24 | 9.8% | 5.8% |
资本支出强度IACTNET
| Q4 25 | 0.8% | 1.4% | ||
| Q3 25 | 0.8% | 1.4% | ||
| Q2 25 | 0.8% | 1.5% | ||
| Q1 25 | 0.8% | 1.2% | ||
| Q4 24 | 0.7% | 1.4% | ||
| Q3 24 | 0.5% | 2.0% | ||
| Q2 24 | 0.5% | 1.4% | ||
| Q1 24 | 0.5% | 1.4% |
现金转化率IACTNET
| Q4 25 | — | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | -0.01× | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | 1.42× | 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
IAC
| $168.5M | 26% | |
| Performance Marketing | $101.2M | 16% |
| Care.com | $85.7M | 13% |
| Subscription | $69.5M | 11% |
| Licensing And Other | $43.8M | 7% |
| Consumer Revenue | $43.2M | 7% |
| Advertising | $35.9M | 6% |
| Project And Other Print | $33.6M | 5% |
| Advertising Google | $28.9M | 4% |
| Newsstand | $22.4M | 3% |
| Emerging Other | $19.6M | 3% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
