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诺唯真游轮控股（LINE）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
诺唯真游轮控股的季度营收约是TRINET GROUP, INC.的1.1倍（$1.4B vs $1.2B），诺唯真游轮控股同比增速更快（3.1% vs -2.2%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $35.0M）
诺唯真游轮控股是一家总部位于美国、注册地为百慕大的企业，旗下全资运营诺唯真游轮、大洋游轮、丽晶七海游轮三大品牌，合并业务规模位列全球游轮运营商第三位，目前在纽约证券交易所挂牌上市。
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。
LINE vs TNET — 直观对比
营收规模更大
LINE
是对方的1.1倍
$1.2B
营收增速更快
LINE
高出5.3%
-2.2%
自由现金流更多
TNET
多$8.0M
$35.0M
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.2B |
| 净利润 | $-100.0M | — |
| 毛利率 | 32.3% | — |
| 营业利润率 | 2.5% | 0.1% |
| 净利率 | -7.3% | — |
| 营收同比 | 3.1% | -2.2% |
| 净利润同比 | 79.4% | — |
| 每股收益（稀释后） | $-0.44 | $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LINETNET
| Q4 25 | — | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.3B | $1.3B |
净利润LINETNET
| Q4 25 | — | — | ||
| Q3 25 | $-100.0M | $34.0M | ||
| Q2 25 | $-6.0M | $37.0M | ||
| Q1 25 | $0 | $85.0M | ||
| Q4 24 | $-71.0M | — | ||
| Q3 24 | $-485.0M | $45.0M | ||
| Q2 24 | $-68.0M | $60.0M | ||
| Q1 24 | $-40.0M | $91.0M |
毛利率LINETNET
| Q4 25 | — | — | ||
| Q3 25 | 32.3% | — | ||
| Q2 25 | 31.9% | — | ||
| Q1 25 | 32.2% | — | ||
| Q4 24 | 32.3% | — | ||
| Q3 24 | 32.8% | — | ||
| Q2 24 | 33.4% | — | ||
| Q1 24 | 33.4% | — |
营业利润率LINETNET
| Q4 25 | — | 0.1% | ||
| Q3 25 | 2.5% | 4.1% | ||
| Q2 25 | 1.7% | 4.1% | ||
| Q1 25 | 4.3% | 8.9% | ||
| Q4 24 | -1.6% | -2.9% | ||
| Q3 24 | -38.6% | 4.7% | ||
| Q2 24 | 5.5% | 6.5% | ||
| Q1 24 | 7.6% | 9.7% |
净利率LINETNET
| Q4 25 | — | — | ||
| Q3 25 | -7.3% | 2.8% | ||
| Q2 25 | -0.4% | 3.0% | ||
| Q1 25 | — | 6.6% | ||
| Q4 24 | -5.3% | — | ||
| Q3 24 | -36.3% | 3.6% | ||
| Q2 24 | -5.1% | 4.9% | ||
| Q1 24 | -3.0% | 7.2% |
每股收益（稀释后）LINETNET
| Q4 25 | — | $0.02 | ||
| Q3 25 | $-0.44 | $0.70 | ||
| Q2 25 | $-0.03 | $0.77 | ||
| Q1 25 | $0.01 | $1.71 | ||
| Q4 24 | $-0.52 | $-0.44 | ||
| Q3 24 | $-2.44 | $0.89 | ||
| Q2 24 | $-0.46 | $1.20 | ||
| Q1 24 | $-0.28 | $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 | — | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.4B | $54.0M |
| 总资产 | $19.2B | $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LINETNET
| Q4 25 | — | $287.0M | ||
| Q3 25 | — | $321.0M | ||
| Q2 25 | — | $407.0M | ||
| Q1 25 | — | $349.0M | ||
| Q4 24 | $173.0M | $360.0M | ||
| Q3 24 | $409.0M | $301.0M | ||
| Q2 24 | $73.0M | $249.0M | ||
| Q1 24 | — | $383.0M |
股东权益LINETNET
| Q4 25 | — | $54.0M | ||
| Q3 25 | $8.4B | $110.0M | ||
| Q2 25 | $8.6B | $107.0M | ||
| Q1 25 | $8.6B | $63.0M | ||
| Q4 24 | $8.6B | $69.0M | ||
| Q3 24 | $9.0B | $129.0M | ||
| Q2 24 | $4.9B | $100.0M | ||
| Q1 24 | $5.6B | $143.0M |
总资产LINETNET
| Q4 25 | — | $3.8B | ||
| Q3 25 | $19.2B | $3.4B | ||
| Q2 25 | $19.4B | $3.7B | ||
| Q1 25 | $18.8B | $3.8B | ||
| Q4 24 | $18.7B | $4.1B | ||
| Q3 24 | $19.3B | $3.7B | ||
| Q2 24 | $18.8B | $3.7B | ||
| Q1 24 | — | $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 | $230.0M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $35.0M | $43.0M |
| 自由现金流率自由现金流/营收 | 2.5% | 3.4% |
| 资本支出强度资本支出/营收 | 14.2% | 1.4% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $234.0M |
8季度趋势，按日历期对齐
经营现金流LINETNET
| Q4 25 | — | $61.0M | ||
| Q3 25 | $230.0M | $72.0M | ||
| Q2 25 | $258.0M | $75.0M | ||
| Q1 25 | $139.0M | $95.0M | ||
| Q4 24 | — | $65.0M | ||
| Q3 24 | $186.0M | $84.0M | ||
| Q2 24 | $155.0M | $39.0M | ||
| Q1 24 | $105.0M | $91.0M |
自由现金流LINETNET
| Q4 25 | — | $43.0M | ||
| Q3 25 | $35.0M | $55.0M | ||
| Q2 25 | $95.0M | $57.0M | ||
| Q1 25 | $-12.0M | $79.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | $33.0M | $59.0M | ||
| Q2 24 | $-31.0M | $22.0M | ||
| Q1 24 | $-42.0M | $73.0M |
自由现金流率LINETNET
| Q4 25 | — | 3.4% | ||
| Q3 25 | 2.5% | 4.5% | ||
| Q2 25 | 7.0% | 4.6% | ||
| Q1 25 | -0.9% | 6.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | 2.5% | 4.8% | ||
| Q2 24 | -2.3% | 1.8% | ||
| Q1 24 | -3.2% | 5.8% |
资本支出强度LINETNET
| Q4 25 | — | 1.4% | ||
| Q3 25 | 14.2% | 1.4% | ||
| Q2 25 | 12.1% | 1.5% | ||
| Q1 25 | 11.7% | 1.2% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 11.5% | 2.0% | ||
| Q2 24 | 13.9% | 1.4% | ||
| Q1 24 | 11.1% | 1.4% |
现金转化率LINETNET
| Q4 25 | — | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | — | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 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
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
