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Loews Corporation（L）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Loews Corporation的1.5倍（$1.2B vs $827.0M），Loews Corporation同比增速更快（4.8% vs -2.2%），Loews Corporation自由现金流更多（$426.0M vs $43.0M），过去两年Loews Corporation的营收复合增速更高（7.9% vs -0.6%）
Loews Corporation是一家总部位于美国的多元化综合企业集团，旗下子公司业务覆盖财产保险、天然气管道运输、酒店运营、油气勘探生产等核心领域，主要服务北美市场的商业、消费者及工业客户。
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。
L vs TNET — 直观对比
营收规模更大
TNET
是对方的1.5倍
$827.0M
营收增速更快
L
高出7.0%
-2.2%
自由现金流更多
L
多$383.0M
$43.0M
两年增速更快
L
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $827.0M | $1.2B |
| 净利润 | $402.0M | — |
| 毛利率 | — | — |
| 营业利润率 | 65.4% | 0.1% |
| 净利率 | 48.6% | — |
| 营收同比 | 4.8% | -2.2% |
| 净利润同比 | 115.0% | — |
| 每股收益（稀释后） | $1.93 | $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LTNET
| Q4 25 | $827.0M | $1.2B | ||
| Q3 25 | $732.0M | $1.2B | ||
| Q2 25 | $769.0M | $1.2B | ||
| Q1 25 | $846.0M | $1.3B | ||
| Q4 24 | $789.0M | $1.3B | ||
| Q3 24 | $683.0M | $1.2B | ||
| Q2 24 | $711.0M | $1.2B | ||
| Q1 24 | $710.0M | $1.3B |
净利润LTNET
| Q4 25 | $402.0M | — | ||
| Q3 25 | $504.0M | $34.0M | ||
| Q2 25 | $391.0M | $37.0M | ||
| Q1 25 | $370.0M | $85.0M | ||
| Q4 24 | $187.0M | — | ||
| Q3 24 | $401.0M | $45.0M | ||
| Q2 24 | $369.0M | $60.0M | ||
| Q1 24 | $457.0M | $91.0M |
营业利润率LTNET
| Q4 25 | 65.4% | 0.1% | ||
| Q3 25 | 94.1% | 4.1% | ||
| Q2 25 | 70.1% | 4.1% | ||
| Q1 25 | 60.8% | 8.9% | ||
| Q4 24 | 23.8% | -2.9% | ||
| Q3 24 | 80.5% | 4.7% | ||
| Q2 24 | 71.3% | 6.5% | ||
| Q1 24 | 88.6% | 9.7% |
净利率LTNET
| Q4 25 | 48.6% | — | ||
| Q3 25 | 68.9% | 2.8% | ||
| Q2 25 | 50.8% | 3.0% | ||
| Q1 25 | 43.7% | 6.6% | ||
| Q4 24 | 23.7% | — | ||
| Q3 24 | 58.7% | 3.6% | ||
| Q2 24 | 51.9% | 4.9% | ||
| Q1 24 | 64.4% | 7.2% |
每股收益（稀释后）LTNET
| Q4 25 | $1.93 | $0.02 | ||
| Q3 25 | $2.43 | $0.70 | ||
| Q2 25 | $1.87 | $0.77 | ||
| Q1 25 | $1.74 | $1.71 | ||
| Q4 24 | $0.87 | $-0.44 | ||
| Q3 24 | $1.82 | $0.89 | ||
| Q2 24 | $1.67 | $1.20 | ||
| Q1 24 | $2.05 | $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 | $6.0B | $287.0M |
| 总债务越低越好 | $8.4B | — |
| 股东权益账面价值 | $18.7B | $54.0M |
| 总资产 | $86.3B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.45× | — |
8季度趋势，按日历期对齐
现金及短期投资LTNET
| Q4 25 | $6.0B | $287.0M | ||
| Q3 25 | $5.4B | $321.0M | ||
| Q2 25 | $4.5B | $407.0M | ||
| Q1 25 | $4.4B | $349.0M | ||
| Q4 24 | $4.6B | $360.0M | ||
| Q3 24 | $5.2B | $301.0M | ||
| Q2 24 | $4.9B | $249.0M | ||
| Q1 24 | $5.4B | $383.0M |
总债务LTNET
| Q4 25 | $8.4B | — | ||
| Q3 25 | $8.4B | — | ||
| Q2 25 | $7.9B | — | ||
| Q1 25 | $8.4B | — | ||
| Q4 24 | $8.9B | — | ||
| Q3 24 | $8.8B | — | ||
| Q2 24 | $8.6B | — | ||
| Q1 24 | $8.4B | — |
股东权益LTNET
| Q4 25 | $18.7B | $54.0M | ||
| Q3 25 | $18.3B | $110.0M | ||
| Q2 25 | $17.5B | $107.0M | ||
| Q1 25 | $17.2B | $63.0M | ||
| Q4 24 | $17.1B | $69.0M | ||
| Q3 24 | $17.4B | $129.0M | ||
| Q2 24 | $16.4B | $100.0M | ||
| Q1 24 | $16.2B | $143.0M |
总资产LTNET
| Q4 25 | $86.3B | $3.8B | ||
| Q3 25 | $85.9B | $3.4B | ||
| Q2 25 | $84.7B | $3.7B | ||
| Q1 25 | $83.1B | $3.8B | ||
| Q4 24 | $81.9B | $4.1B | ||
| Q3 24 | $83.6B | $3.7B | ||
| Q2 24 | $81.1B | $3.7B | ||
| Q1 24 | $80.9B | $4.0B |
负债/权益比LTNET
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.46× | — | ||
| Q2 25 | 0.45× | — | ||
| Q1 25 | 0.49× | — | ||
| Q4 24 | 0.52× | — | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 0.52× | — | ||
| Q1 24 | 0.52× | — |
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 | $617.0M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $426.0M | $43.0M |
| 自由现金流率自由现金流/营收 | 51.5% | 3.4% |
| 资本支出强度资本支出/营收 | 23.1% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.53× | — |
| 过去12个月自由现金流最近4个季度 | $2.7B | $234.0M |
8季度趋势，按日历期对齐
经营现金流LTNET
| Q4 25 | $617.0M | $61.0M | ||
| Q3 25 | $920.0M | $72.0M | ||
| Q2 25 | $1.0B | $75.0M | ||
| Q1 25 | $736.0M | $95.0M | ||
| Q4 24 | $941.0M | $65.0M | ||
| Q3 24 | $934.0M | $84.0M | ||
| Q2 24 | $952.0M | $39.0M | ||
| Q1 24 | $198.0M | $91.0M |
自由现金流LTNET
| Q4 25 | $426.0M | $43.0M | ||
| Q3 25 | $764.0M | $55.0M | ||
| Q2 25 | $872.0M | $57.0M | ||
| Q1 25 | $638.0M | $79.0M | ||
| Q4 24 | $767.0M | $47.0M | ||
| Q3 24 | $794.0M | $59.0M | ||
| Q2 24 | $793.0M | $22.0M | ||
| Q1 24 | $39.0M | $73.0M |
自由现金流率LTNET
| Q4 25 | 51.5% | 3.4% | ||
| Q3 25 | 104.4% | 4.5% | ||
| Q2 25 | 113.4% | 4.6% | ||
| Q1 25 | 75.4% | 6.1% | ||
| Q4 24 | 97.2% | 3.7% | ||
| Q3 24 | 116.3% | 4.8% | ||
| Q2 24 | 111.5% | 1.8% | ||
| Q1 24 | 5.5% | 5.8% |
资本支出强度LTNET
| Q4 25 | 23.1% | 1.4% | ||
| Q3 25 | 21.3% | 1.4% | ||
| Q2 25 | 17.4% | 1.5% | ||
| Q1 25 | 11.6% | 1.2% | ||
| Q4 24 | 22.1% | 1.4% | ||
| Q3 24 | 20.5% | 2.0% | ||
| Q2 24 | 22.4% | 1.4% | ||
| Q1 24 | 22.4% | 1.4% |
现金转化率LTNET
| Q4 25 | 1.53× | — | ||
| Q3 25 | 1.83× | 2.12× | ||
| Q2 25 | 2.57× | 2.03× | ||
| Q1 25 | 1.99× | 1.12× | ||
| Q4 24 | 5.03× | — | ||
| Q3 24 | 2.33× | 1.87× | ||
| Q2 24 | 2.58× | 0.65× | ||
| Q1 24 | 0.43× | 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
L
| Transportation And Storage Of Natural Gas And NG Ls And Ethane Supply And Transportation Services | $601.0M | 73% |
| Lodging And Related Services | $226.0M | 27% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
