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爵士制药（JAZZ）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.的季度营收约是爵士制药的1.0倍（$1.2B vs $1.2B），爵士制药同比增速更快（10.1% vs -2.2%），爵士制药自由现金流更多（$345.8M vs $43.0M），过去两年爵士制药的营收复合增速更高（15.2% vs -0.6%）
爵士制药是一家全球性生物制药企业，核心业务聚焦肿瘤学与神经科学两大领域，2003年在美国加利福尼亚州成立，当前总部坐落于爱尔兰首都都柏林。
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。
JAZZ vs TNET — 直观对比
营收规模更大
TNET
是对方的1.0倍
$1.2B
营收增速更快
JAZZ
高出12.3%
-2.2%
自由现金流更多
JAZZ
多$302.8M
$43.0M
两年增速更快
JAZZ
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.2B |
| 净利润 | $203.5M | — |
| 毛利率 | — | — |
| 营业利润率 | 21.2% | 0.1% |
| 净利率 | 17.0% | — |
| 营收同比 | 10.1% | -2.2% |
| 净利润同比 | 6.5% | — |
| 每股收益（稀释后） | $3.34 | $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JAZZTNET
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $897.8M | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.0B | $1.2B | ||
| Q1 24 | $902.0M | $1.3B |
净利润JAZZTNET
| Q4 25 | $203.5M | — | ||
| Q3 25 | $251.4M | $34.0M | ||
| Q2 25 | $-718.5M | $37.0M | ||
| Q1 25 | $-92.5M | $85.0M | ||
| Q4 24 | $191.1M | — | ||
| Q3 24 | $215.1M | $45.0M | ||
| Q2 24 | $168.6M | $60.0M | ||
| Q1 24 | $-14.6M | $91.0M |
营业利润率JAZZTNET
| Q4 25 | 21.2% | 0.1% | ||
| Q3 25 | 5.1% | 4.1% | ||
| Q2 25 | -65.6% | 4.1% | ||
| Q1 25 | -6.2% | 8.9% | ||
| Q4 24 | 17.5% | -2.9% | ||
| Q3 24 | 24.7% | 4.7% | ||
| Q2 24 | 19.5% | 6.5% | ||
| Q1 24 | 7.3% | 9.7% |
净利率JAZZTNET
| Q4 25 | 17.0% | — | ||
| Q3 25 | 22.3% | 2.8% | ||
| Q2 25 | -68.7% | 3.0% | ||
| Q1 25 | -10.3% | 6.6% | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 20.4% | 3.6% | ||
| Q2 24 | 16.5% | 4.9% | ||
| Q1 24 | -1.6% | 7.2% |
每股收益（稀释后）JAZZTNET
| Q4 25 | $3.34 | $0.02 | ||
| Q3 25 | $4.08 | $0.70 | ||
| Q2 25 | $-11.74 | $0.77 | ||
| Q1 25 | $-1.52 | $1.71 | ||
| Q4 24 | $2.97 | $-0.44 | ||
| Q3 24 | $3.42 | $0.89 | ||
| Q2 24 | $2.49 | $1.20 | ||
| Q1 24 | $-0.23 | $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 | $1.4B | $287.0M |
| 总债务越低越好 | $5.4B | — |
| 股东权益账面价值 | $4.3B | $54.0M |
| 总资产 | $11.7B | $3.8B |
| 负债/权益比越低杠杆越低 | 1.24× | — |
8季度趋势，按日历期对齐
现金及短期投资JAZZTNET
| Q4 25 | $1.4B | $287.0M | ||
| Q3 25 | $1.3B | $321.0M | ||
| Q2 25 | $1.2B | $407.0M | ||
| Q1 25 | $1.9B | $349.0M | ||
| Q4 24 | $2.4B | $360.0M | ||
| Q3 24 | $2.2B | $301.0M | ||
| Q2 24 | $1.4B | $249.0M | ||
| Q1 24 | $1.4B | $383.0M |
总债务JAZZTNET
| Q4 25 | $5.4B | — | ||
| Q3 25 | $5.4B | — | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.4B | — | ||
| Q4 24 | $6.1B | — | ||
| Q3 24 | $6.1B | — | ||
| Q2 24 | $5.7B | — | ||
| Q1 24 | $5.7B | — |
股东权益JAZZTNET
| Q4 25 | $4.3B | $54.0M | ||
| Q3 25 | $4.0B | $110.0M | ||
| Q2 25 | $3.7B | $107.0M | ||
| Q1 25 | $4.2B | $63.0M | ||
| Q4 24 | $4.1B | $69.0M | ||
| Q3 24 | $4.2B | $129.0M | ||
| Q2 24 | $3.8B | $100.0M | ||
| Q1 24 | $3.7B | $143.0M |
总资产JAZZTNET
| Q4 25 | $11.7B | $3.8B | ||
| Q3 25 | $11.4B | $3.4B | ||
| Q2 25 | $10.9B | $3.7B | ||
| Q1 25 | $11.5B | $3.8B | ||
| Q4 24 | $12.0B | $4.1B | ||
| Q3 24 | $12.3B | $3.7B | ||
| Q2 24 | $11.4B | $3.7B | ||
| Q1 24 | $11.3B | $4.0B |
负债/权益比JAZZTNET
| Q4 25 | 1.24× | — | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.29× | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 1.47× | — | ||
| Q2 24 | 1.52× | — | ||
| Q1 24 | 1.54× | — |
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 | $362.5M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $345.8M | $43.0M |
| 自由现金流率自由现金流/营收 | 28.9% | 3.4% |
| 资本支出强度资本支出/营收 | 1.4% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.78× | — |
| 过去12个月自由现金流最近4个季度 | $1.3B | $234.0M |
8季度趋势，按日历期对齐
经营现金流JAZZTNET
| Q4 25 | $362.5M | $61.0M | ||
| Q3 25 | $474.6M | $72.0M | ||
| Q2 25 | $88.9M | $75.0M | ||
| Q1 25 | $429.8M | $95.0M | ||
| Q4 24 | $398.6M | $65.0M | ||
| Q3 24 | $398.7M | $84.0M | ||
| Q2 24 | $331.4M | $39.0M | ||
| Q1 24 | $267.2M | $91.0M |
自由现金流JAZZTNET
| Q4 25 | $345.8M | $43.0M | ||
| Q3 25 | $459.4M | $55.0M | ||
| Q2 25 | $75.9M | $57.0M | ||
| Q1 25 | $415.9M | $79.0M | ||
| Q4 24 | $385.3M | $47.0M | ||
| Q3 24 | $388.0M | $59.0M | ||
| Q2 24 | $324.3M | $22.0M | ||
| Q1 24 | $260.3M | $73.0M |
自由现金流率JAZZTNET
| Q4 25 | 28.9% | 3.4% | ||
| Q3 25 | 40.8% | 4.5% | ||
| Q2 25 | 7.3% | 4.6% | ||
| Q1 25 | 46.3% | 6.1% | ||
| Q4 24 | 35.4% | 3.7% | ||
| Q3 24 | 36.8% | 4.8% | ||
| Q2 24 | 31.7% | 1.8% | ||
| Q1 24 | 28.9% | 5.8% |
资本支出强度JAZZTNET
| Q4 25 | 1.4% | 1.4% | ||
| Q3 25 | 1.3% | 1.4% | ||
| Q2 25 | 1.2% | 1.5% | ||
| Q1 25 | 1.5% | 1.2% | ||
| Q4 24 | 1.2% | 1.4% | ||
| Q3 24 | 1.0% | 2.0% | ||
| Q2 24 | 0.7% | 1.4% | ||
| Q1 24 | 0.8% | 1.4% |
现金转化率JAZZTNET
| Q4 25 | 1.78× | — | ||
| Q3 25 | 1.89× | 2.12× | ||
| Q2 25 | — | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | 2.09× | — | ||
| Q3 24 | 1.85× | 1.87× | ||
| Q2 24 | 1.97× | 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
JAZZ
| Xywav | $465.5M | 39% |
| Total Oncology | $337.8M | 28% |
| Rylaze Enrylaze | $108.2M | 9% |
| Zepzelca | $90.4M | 8% |
| Product And Services Royalties And Contract Revenue | $65.5M | 5% |
| High Sodium AG Oxybate Product Royalty Revenue | $55.7M | 5% |
| Xyrem | $37.8M | 3% |
| Vyxeos | $34.7M | 3% |
| Ziihera | $8.5M | 1% |
| Other Products | $2.8M | 0% |
| Sativex | $1.5M | 0% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
