vs
礼恩派（LEG）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.的季度营收约是礼恩派的1.3倍（$1.2B vs $938.6M），TRINET GROUP, INC.同比增速更快（-2.2% vs -11.2%），礼恩派自由现金流更多（$101.9M vs $43.0M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -7.5%）
礼恩派（Leggett & Platt）总部位于美国密苏里州迦太基，是一家多元化制造企业，成立于1883年。公司专注于设计生产各类工程组件及产品，广泛应用于家居与汽车领域。目前旗下设有15个业务单元，在全球18个国家拥有135座生产工厂，员工总数达2万名。
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。
LEG vs TNET — 直观对比
营收规模更大
TNET
是对方的1.3倍
$938.6M
营收增速更快
TNET
高出9.0%
-11.2%
自由现金流更多
LEG
多$58.9M
$43.0M
两年增速更快
TNET
近两年复合增速
-7.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $938.6M | $1.2B |
| 净利润 | $25.1M | — |
| 毛利率 | 17.9% | — |
| 营业利润率 | 2.0% | 0.1% |
| 净利率 | 2.7% | — |
| 营收同比 | -11.2% | -2.2% |
| 净利润同比 | 76.8% | — |
| 每股收益（稀释后） | $0.18 | $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LEGTNET
| Q4 25 | $938.6M | $1.2B | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.0B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.1B | $1.3B |
净利润LEGTNET
| Q4 25 | $25.1M | — | ||
| Q3 25 | $127.1M | $34.0M | ||
| Q2 25 | $52.5M | $37.0M | ||
| Q1 25 | $30.6M | $85.0M | ||
| Q4 24 | $14.2M | — | ||
| Q3 24 | $44.9M | $45.0M | ||
| Q2 24 | $-602.2M | $60.0M | ||
| Q1 24 | $31.6M | $91.0M |
毛利率LEGTNET
| Q4 25 | 17.9% | — | ||
| Q3 25 | 18.7% | — | ||
| Q2 25 | 18.2% | — | ||
| Q1 25 | 18.6% | — | ||
| Q4 24 | 16.6% | — | ||
| Q3 24 | 18.2% | — | ||
| Q2 24 | 16.5% | — | ||
| Q1 24 | 17.0% | — |
营业利润率LEGTNET
| Q4 25 | 2.0% | 0.1% | ||
| Q3 25 | 14.9% | 4.1% | ||
| Q2 25 | 6.8% | 4.1% | ||
| Q1 25 | 4.4% | 8.9% | ||
| Q4 24 | 2.4% | -2.9% | ||
| Q3 24 | 5.2% | 4.7% | ||
| Q2 24 | -56.2% | 6.5% | ||
| Q1 24 | 3.9% | 9.7% |
净利率LEGTNET
| Q4 25 | 2.7% | — | ||
| Q3 25 | 12.3% | 2.8% | ||
| Q2 25 | 5.0% | 3.0% | ||
| Q1 25 | 3.0% | 6.6% | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 4.1% | 3.6% | ||
| Q2 24 | -53.4% | 4.9% | ||
| Q1 24 | 2.9% | 7.2% |
每股收益（稀释后）LEGTNET
| Q4 25 | $0.18 | $0.02 | ||
| Q3 25 | $0.91 | $0.70 | ||
| Q2 25 | $0.38 | $0.77 | ||
| Q1 25 | $0.22 | $1.71 | ||
| Q4 24 | $0.10 | $-0.44 | ||
| Q3 24 | $0.33 | $0.89 | ||
| Q2 24 | $-4.39 | $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 | $587.4M | $287.0M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $1.0B | $54.0M |
| 总资产 | $3.5B | $3.8B |
| 负债/权益比越低杠杆越低 | 1.46× | — |
8季度趋势，按日历期对齐
现金及短期投资LEGTNET
| Q4 25 | $587.4M | $287.0M | ||
| Q3 25 | $460.7M | $321.0M | ||
| Q2 25 | $368.8M | $407.0M | ||
| Q1 25 | $412.6M | $349.0M | ||
| Q4 24 | $350.2M | $360.0M | ||
| Q3 24 | $277.2M | $301.0M | ||
| Q2 24 | $307.0M | $249.0M | ||
| Q1 24 | $361.3M | $383.0M |
总债务LEGTNET
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.8B | — |
股东权益LEGTNET
| Q4 25 | $1.0B | $54.0M | ||
| Q3 25 | $971.8M | $110.0M | ||
| Q2 25 | $855.0M | $107.0M | ||
| Q1 25 | $746.8M | $63.0M | ||
| Q4 24 | $689.4M | $69.0M | ||
| Q3 24 | $741.0M | $129.0M | ||
| Q2 24 | $667.6M | $100.0M | ||
| Q1 24 | $1.3B | $143.0M |
总资产LEGTNET
| Q4 25 | $3.5B | $3.8B | ||
| Q3 25 | $3.5B | $3.4B | ||
| Q2 25 | $3.7B | $3.7B | ||
| Q1 25 | $3.7B | $3.8B | ||
| Q4 24 | $3.7B | $4.1B | ||
| Q3 24 | $3.8B | $3.7B | ||
| Q2 24 | $3.8B | $3.7B | ||
| Q1 24 | $4.6B | $4.0B |
负债/权益比LEGTNET
| Q4 25 | 1.46× | — | ||
| Q3 25 | 1.54× | — | ||
| Q2 25 | 2.10× | — | ||
| Q1 25 | 2.59× | — | ||
| Q4 24 | 2.70× | — | ||
| Q3 24 | 2.13× | — | ||
| Q2 24 | 2.55× | — | ||
| Q1 24 | 1.38× | — |
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 | $121.5M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $101.9M | $43.0M |
| 自由现金流率自由现金流/营收 | 10.9% | 3.4% |
| 资本支出强度资本支出/营收 | 2.1% | 1.4% |
| 现金转化率经营现金流/净利润 | 4.84× | — |
| 过去12个月自由现金流最近4个季度 | $281.0M | $234.0M |
8季度趋势，按日历期对齐
经营现金流LEGTNET
| Q4 25 | $121.5M | $61.0M | ||
| Q3 25 | $125.9M | $72.0M | ||
| Q2 25 | $84.0M | $75.0M | ||
| Q1 25 | $6.8M | $95.0M | ||
| Q4 24 | $122.3M | $65.0M | ||
| Q3 24 | $95.5M | $84.0M | ||
| Q2 24 | $94.0M | $39.0M | ||
| Q1 24 | $-6.1M | $91.0M |
自由现金流LEGTNET
| Q4 25 | $101.9M | $43.0M | ||
| Q3 25 | $110.1M | $55.0M | ||
| Q2 25 | $75.5M | $57.0M | ||
| Q1 25 | $-6.5M | $79.0M | ||
| Q4 24 | $100.5M | $47.0M | ||
| Q3 24 | $77.1M | $59.0M | ||
| Q2 24 | $78.5M | $22.0M | ||
| Q1 24 | $-32.0M | $73.0M |
自由现金流率LEGTNET
| Q4 25 | 10.9% | 3.4% | ||
| Q3 25 | 10.6% | 4.5% | ||
| Q2 25 | 7.1% | 4.6% | ||
| Q1 25 | -0.6% | 6.1% | ||
| Q4 24 | 9.5% | 3.7% | ||
| Q3 24 | 7.0% | 4.8% | ||
| Q2 24 | 7.0% | 1.8% | ||
| Q1 24 | -2.9% | 5.8% |
资本支出强度LEGTNET
| Q4 25 | 2.1% | 1.4% | ||
| Q3 25 | 1.5% | 1.4% | ||
| Q2 25 | 0.8% | 1.5% | ||
| Q1 25 | 1.3% | 1.2% | ||
| Q4 24 | 2.1% | 1.4% | ||
| Q3 24 | 1.7% | 2.0% | ||
| Q2 24 | 1.4% | 1.4% | ||
| Q1 24 | 2.4% | 1.4% |
现金转化率LEGTNET
| Q4 25 | 4.84× | — | ||
| Q3 25 | 0.99× | 2.12× | ||
| Q2 25 | 1.60× | 2.03× | ||
| Q1 25 | 0.22× | 1.12× | ||
| Q4 24 | 8.61× | — | ||
| Q3 24 | 2.13× | 1.87× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | -0.19× | 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
LEG
| Bedding Products | $373.8M | 40% |
| Flooring And Textile Products Group | $196.9M | 21% |
| Automotive Group | $194.9M | 21% |
| Work Furniture Group | $66.2M | 7% |
| Home Furniture Group | $61.0M | 6% |
| Hydraulic Cylinders | $45.8M | 5% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
