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Idexx Laboratories（IDXX）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Idexx Laboratories的1.1倍（$1.2B vs $1.1B），Idexx Laboratories同比增速更快（14.3% vs -2.2%），Idexx Laboratories自由现金流更多（$326.3M vs $43.0M），过去两年Idexx Laboratories的营收复合增速更高（6.4% vs -0.6%）
IDEXX Laboratories是1983年成立的美国跨国企业，主营伴侣动物诊疗、畜禽养殖、水质检测、乳制品领域相关产品与服务的研发、生产及分销，总部位于缅因州韦斯特布鲁克，欧洲、中东及非洲地区分部设于荷兰霍夫多普。
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。
IDXX vs TNET — 直观对比
营收规模更大
TNET
是对方的1.1倍
$1.1B
营收增速更快
IDXX
高出16.5%
-2.2%
自由现金流更多
IDXX
多$283.3M
$43.0M
两年增速更快
IDXX
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $248.2M | — |
| 毛利率 | 60.3% | — |
| 营业利润率 | 28.9% | 0.1% |
| 净利率 | 22.8% | — |
| 营收同比 | 14.3% | -2.2% |
| 净利润同比 | 14.8% | — |
| 每股收益（稀释后） | $3.09 | $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IDXXTNET
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $998.4M | $1.3B | ||
| Q4 24 | $954.3M | $1.3B | ||
| Q3 24 | $975.5M | $1.2B | ||
| Q2 24 | $1.0B | $1.2B | ||
| Q1 24 | $964.1M | $1.3B |
净利润IDXXTNET
| Q4 25 | $248.2M | — | ||
| Q3 25 | $274.6M | $34.0M | ||
| Q2 25 | $294.0M | $37.0M | ||
| Q1 25 | $242.7M | $85.0M | ||
| Q4 24 | $216.1M | — | ||
| Q3 24 | $232.8M | $45.0M | ||
| Q2 24 | $203.3M | $60.0M | ||
| Q1 24 | $235.6M | $91.0M |
毛利率IDXXTNET
| Q4 25 | 60.3% | — | ||
| Q3 25 | 61.8% | — | ||
| Q2 25 | 62.6% | — | ||
| Q1 25 | 62.4% | — | ||
| Q4 24 | 59.8% | — | ||
| Q3 24 | 61.1% | — | ||
| Q2 24 | 61.7% | — | ||
| Q1 24 | 61.5% | — |
营业利润率IDXXTNET
| Q4 25 | 28.9% | 0.1% | ||
| Q3 25 | 32.1% | 4.1% | ||
| Q2 25 | 33.6% | 4.1% | ||
| Q1 25 | 31.7% | 8.9% | ||
| Q4 24 | 27.4% | -2.9% | ||
| Q3 24 | 31.2% | 4.7% | ||
| Q2 24 | 26.3% | 6.5% | ||
| Q1 24 | 31.0% | 9.7% |
净利率IDXXTNET
| Q4 25 | 22.8% | — | ||
| Q3 25 | 24.8% | 2.8% | ||
| Q2 25 | 26.5% | 3.0% | ||
| Q1 25 | 24.3% | 6.6% | ||
| Q4 24 | 22.7% | — | ||
| Q3 24 | 23.9% | 3.6% | ||
| Q2 24 | 20.3% | 4.9% | ||
| Q1 24 | 24.4% | 7.2% |
每股收益（稀释后）IDXXTNET
| Q4 25 | $3.09 | $0.02 | ||
| Q3 25 | $3.40 | $0.70 | ||
| Q2 25 | $3.63 | $0.77 | ||
| Q1 25 | $2.96 | $1.71 | ||
| Q4 24 | $2.62 | $-0.44 | ||
| Q3 24 | $2.80 | $0.89 | ||
| Q2 24 | $2.44 | $1.20 | ||
| Q1 24 | $2.81 | $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 | $180.1M | $287.0M |
| 总债务越低越好 | $450.0M | — |
| 股东权益账面价值 | $1.6B | $54.0M |
| 总资产 | $3.4B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.28× | — |
8季度趋势，按日历期对齐
现金及短期投资IDXXTNET
| Q4 25 | $180.1M | $287.0M | ||
| Q3 25 | $208.2M | $321.0M | ||
| Q2 25 | $164.6M | $407.0M | ||
| Q1 25 | $164.0M | $349.0M | ||
| Q4 24 | $288.3M | $360.0M | ||
| Q3 24 | $308.6M | $301.0M | ||
| Q2 24 | $401.6M | $249.0M | ||
| Q1 24 | $397.4M | $383.0M |
总债务IDXXTNET
| Q4 25 | $450.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $617.8M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IDXXTNET
| Q4 25 | $1.6B | $54.0M | ||
| Q3 25 | $1.6B | $110.0M | ||
| Q2 25 | $1.5B | $107.0M | ||
| Q1 25 | $1.4B | $63.0M | ||
| Q4 24 | $1.6B | $69.0M | ||
| Q3 24 | $1.6B | $129.0M | ||
| Q2 24 | $1.6B | $100.0M | ||
| Q1 24 | $1.6B | $143.0M |
总资产IDXXTNET
| Q4 25 | $3.4B | $3.8B | ||
| Q3 25 | $3.4B | $3.4B | ||
| Q2 25 | $3.3B | $3.7B | ||
| Q1 25 | $3.2B | $3.8B | ||
| Q4 24 | $3.3B | $4.1B | ||
| Q3 24 | $3.4B | $3.7B | ||
| Q2 24 | $3.4B | $3.7B | ||
| Q1 24 | $3.4B | $4.0B |
负债/权益比IDXXTNET
| Q4 25 | 0.28× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.39× | — | ||
| 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 | $355.8M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $326.3M | $43.0M |
| 自由现金流率自由现金流/营收 | 29.9% | 3.4% |
| 资本支出强度资本支出/营收 | 2.7% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.43× | — |
| 过去12个月自由现金流最近4个季度 | $1.1B | $234.0M |
8季度趋势，按日历期对齐
经营现金流IDXXTNET
| Q4 25 | $355.8M | $61.0M | ||
| Q3 25 | $402.3M | $72.0M | ||
| Q2 25 | $185.7M | $75.0M | ||
| Q1 25 | $238.0M | $95.0M | ||
| Q4 24 | $262.0M | $65.0M | ||
| Q3 24 | $220.1M | $84.0M | ||
| Q2 24 | $248.3M | $39.0M | ||
| Q1 24 | $198.6M | $91.0M |
自由现金流IDXXTNET
| Q4 25 | $326.3M | $43.0M | ||
| Q3 25 | $371.2M | $55.0M | ||
| Q2 25 | $151.6M | $57.0M | ||
| Q1 25 | $207.9M | $79.0M | ||
| Q4 24 | $232.8M | $47.0M | ||
| Q3 24 | $192.0M | $59.0M | ||
| Q2 24 | $215.0M | $22.0M | ||
| Q1 24 | $168.3M | $73.0M |
自由现金流率IDXXTNET
| Q4 25 | 29.9% | 3.4% | ||
| Q3 25 | 33.6% | 4.5% | ||
| Q2 25 | 13.7% | 4.6% | ||
| Q1 25 | 20.8% | 6.1% | ||
| Q4 24 | 24.4% | 3.7% | ||
| Q3 24 | 19.7% | 4.8% | ||
| Q2 24 | 21.4% | 1.8% | ||
| Q1 24 | 17.5% | 5.8% |
资本支出强度IDXXTNET
| Q4 25 | 2.7% | 1.4% | ||
| Q3 25 | 2.8% | 1.4% | ||
| Q2 25 | 3.1% | 1.5% | ||
| Q1 25 | 3.0% | 1.2% | ||
| Q4 24 | 3.1% | 1.4% | ||
| Q3 24 | 2.9% | 2.0% | ||
| Q2 24 | 3.3% | 1.4% | ||
| Q1 24 | 3.1% | 1.4% |
现金转化率IDXXTNET
| Q4 25 | 1.43× | — | ||
| Q3 25 | 1.47× | 2.12× | ||
| Q2 25 | 0.63× | 2.03× | ||
| Q1 25 | 0.98× | 1.12× | ||
| Q4 24 | 1.21× | — | ||
| Q3 24 | 0.95× | 1.87× | ||
| Q2 24 | 1.22× | 0.65× | ||
| Q1 24 | 0.84× | 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
IDXX
| Vet Lab Consumables | $389.0M | 36% |
| Reference Laboratory Diagnostic And Consulting Services | $349.2M | 32% |
| Rapid Assay Products | $76.0M | 7% |
| Recurring Revenue | $70.6M | 6% |
| CAG Diagnostic Capital Instruments | $58.1M | 5% |
| Water Segment | $50.5M | 5% |
| Livestock And Poultry Diagnostics Segment | $37.5M | 3% |
| CAG Diagnostics Service And Accessories | $35.3M | 3% |
| Systems And Hardware | $20.1M | 2% |
| Rebate And Up Front Considerations Arrangements | $2.4M | 0% |
| Extended Warranties And Post Contract Support Revenue | $1.0M | 0% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
