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宜瑞安（INGR）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
宜瑞安的季度营收约是TRINET GROUP, INC.的1.4倍（$1.8B vs $1.2B），TRINET GROUP, INC.同比增速更快（-2.2% vs -2.4%），宜瑞安自由现金流更多（$270.0M vs $43.0M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -3.4%）
宜瑞安（Ingredion Inc.）是总部位于美国伊利诺伊州的食品饮料配料供应商，主打产品包括淀粉、非转基因甜味剂、甜菊糖、豌豆蛋白等，以玉米、木薯、马铃薯、谷物、果蔬等为原料，产品供应食品、饮料、酿造、制药等多个行业，在全球44个站点拥有约1.2万名员工，客户覆盖超120个国家。
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。
INGR vs TNET — 直观对比
营收规模更大
INGR
是对方的1.4倍
$1.2B
营收增速更快
TNET
高出0.2%
-2.4%
自由现金流更多
INGR
多$227.0M
$43.0M
两年增速更快
TNET
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.2B |
| 净利润 | $167.0M | — |
| 毛利率 | 24.5% | — |
| 营业利润率 | 12.5% | 0.1% |
| 净利率 | 9.5% | — |
| 营收同比 | -2.4% | -2.2% |
| 净利润同比 | 72.2% | — |
| 每股收益（稀释后） | $2.58 | $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INGRTNET
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $1.8B | $1.2B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $1.8B | $1.3B | ||
| Q3 24 | $1.9B | $1.2B | ||
| Q2 24 | $1.9B | $1.2B | ||
| Q1 24 | $1.9B | $1.3B |
净利润INGRTNET
| Q4 25 | $167.0M | — | ||
| Q3 25 | $171.0M | $34.0M | ||
| Q2 25 | $196.0M | $37.0M | ||
| Q1 25 | $197.0M | $85.0M | ||
| Q4 24 | $97.0M | — | ||
| Q3 24 | $188.0M | $45.0M | ||
| Q2 24 | $148.0M | $60.0M | ||
| Q1 24 | $216.0M | $91.0M |
毛利率INGRTNET
| Q4 25 | 24.5% | — | ||
| Q3 25 | 25.1% | — | ||
| Q2 25 | 26.0% | — | ||
| Q1 25 | 25.7% | — | ||
| Q4 24 | 24.9% | — | ||
| Q3 24 | 25.6% | — | ||
| Q2 24 | 23.7% | — | ||
| Q1 24 | 22.2% | — |
营业利润率INGRTNET
| Q4 25 | 12.5% | 0.1% | ||
| Q3 25 | 13.7% | 4.1% | ||
| Q2 25 | 14.8% | 4.1% | ||
| Q1 25 | 15.2% | 8.9% | ||
| Q4 24 | 9.0% | -2.9% | ||
| Q3 24 | 14.3% | 4.7% | ||
| Q2 24 | 12.8% | 6.5% | ||
| Q1 24 | 11.3% | 9.7% |
净利率INGRTNET
| Q4 25 | 9.5% | — | ||
| Q3 25 | 9.4% | 2.8% | ||
| Q2 25 | 10.7% | 3.0% | ||
| Q1 25 | 10.9% | 6.6% | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 10.1% | 3.6% | ||
| Q2 24 | 7.9% | 4.9% | ||
| Q1 24 | 11.5% | 7.2% |
每股收益（稀释后）INGRTNET
| Q4 25 | $2.58 | $0.02 | ||
| Q3 25 | $2.61 | $0.70 | ||
| Q2 25 | $2.99 | $0.77 | ||
| Q1 25 | $3.00 | $1.71 | ||
| Q4 24 | $1.43 | $-0.44 | ||
| Q3 24 | $2.83 | $0.89 | ||
| Q2 24 | $2.22 | $1.20 | ||
| Q1 24 | $3.23 | $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 | $1.0B | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.3B | $54.0M |
| 总资产 | $7.9B | $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INGRTNET
| Q4 25 | $1.0B | $287.0M | ||
| Q3 25 | $915.0M | $321.0M | ||
| Q2 25 | $861.0M | $407.0M | ||
| Q1 25 | $837.0M | $349.0M | ||
| Q4 24 | $997.0M | $360.0M | ||
| Q3 24 | $877.0M | $301.0M | ||
| Q2 24 | $505.0M | $249.0M | ||
| Q1 24 | $438.0M | $383.0M |
股东权益INGRTNET
| Q4 25 | $4.3B | $54.0M | ||
| Q3 25 | $4.2B | $110.0M | ||
| Q2 25 | $4.2B | $107.0M | ||
| Q1 25 | $4.0B | $63.0M | ||
| Q4 24 | $3.8B | $69.0M | ||
| Q3 24 | $4.0B | $129.0M | ||
| Q2 24 | $3.7B | $100.0M | ||
| Q1 24 | $3.7B | $143.0M |
总资产INGRTNET
| Q4 25 | $7.9B | $3.8B | ||
| Q3 25 | $7.8B | $3.4B | ||
| Q2 25 | $7.8B | $3.7B | ||
| Q1 25 | $7.5B | $3.8B | ||
| Q4 24 | $7.4B | $4.1B | ||
| Q3 24 | $7.5B | $3.7B | ||
| Q2 24 | $7.2B | $3.7B | ||
| Q1 24 | $7.3B | $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 | $405.0M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $270.0M | $43.0M |
| 自由现金流率自由现金流/营收 | 15.4% | 3.4% |
| 资本支出强度资本支出/营收 | 7.7% | 1.4% |
| 现金转化率经营现金流/净利润 | 2.43× | — |
| 过去12个月自由现金流最近4个季度 | $511.0M | $234.0M |
8季度趋势，按日历期对齐
经营现金流INGRTNET
| Q4 25 | $405.0M | $61.0M | ||
| Q3 25 | $277.0M | $72.0M | ||
| Q2 25 | $185.0M | $75.0M | ||
| Q1 25 | $77.0M | $95.0M | ||
| Q4 24 | $436.0M | $65.0M | ||
| Q3 24 | $479.0M | $84.0M | ||
| Q2 24 | $312.0M | $39.0M | ||
| Q1 24 | $209.0M | $91.0M |
自由现金流INGRTNET
| Q4 25 | $270.0M | $43.0M | ||
| Q3 25 | $172.0M | $55.0M | ||
| Q2 25 | $84.0M | $57.0M | ||
| Q1 25 | $-15.0M | $79.0M | ||
| Q4 24 | $311.0M | $47.0M | ||
| Q3 24 | $429.0M | $59.0M | ||
| Q2 24 | $257.0M | $22.0M | ||
| Q1 24 | $144.0M | $73.0M |
自由现金流率INGRTNET
| Q4 25 | 15.4% | 3.4% | ||
| Q3 25 | 9.5% | 4.5% | ||
| Q2 25 | 4.6% | 4.6% | ||
| Q1 25 | -0.8% | 6.1% | ||
| Q4 24 | 17.3% | 3.7% | ||
| Q3 24 | 22.9% | 4.8% | ||
| Q2 24 | 13.7% | 1.8% | ||
| Q1 24 | 7.7% | 5.8% |
资本支出强度INGRTNET
| Q4 25 | 7.7% | 1.4% | ||
| Q3 25 | 5.8% | 1.4% | ||
| Q2 25 | 5.5% | 1.5% | ||
| Q1 25 | 5.1% | 1.2% | ||
| Q4 24 | 6.9% | 1.4% | ||
| Q3 24 | 2.7% | 2.0% | ||
| Q2 24 | 2.9% | 1.4% | ||
| Q1 24 | 3.5% | 1.4% |
现金转化率INGRTNET
| Q4 25 | 2.43× | — | ||
| Q3 25 | 1.62× | 2.12× | ||
| Q2 25 | 0.94× | 2.03× | ||
| Q1 25 | 0.39× | 1.12× | ||
| Q4 24 | 4.49× | — | ||
| Q3 24 | 2.55× | 1.87× | ||
| Q2 24 | 2.11× | 0.65× | ||
| Q1 24 | 0.97× | 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
INGR
| Food And Industrial Ingredients LATAM Segment | $599.0M | 34% |
| Texture And Healthful Solutions Segment | $598.0M | 34% |
| Food And Industrial Ingredients U.S.Canada Segment | $486.0M | 28% |
| Other | $74.0M | 4% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
