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蓝威斯顿（LW）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
蓝威斯顿的季度营收约是TRINET GROUP, INC.的1.3倍（$1.6B vs $1.2B），蓝威斯顿同比增速更快（2.9% vs -2.2%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $-36.3M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -1.5%）
蓝威斯顿控股是美国食品加工企业，为全球规模最大的冷冻薯条、华夫薯条及其他冷冻马铃薯制品的生产商与加工商之一，总部坐落于爱达荷州博伊西市郊的伊格尔市。
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。
LW vs TNET — 直观对比
营收规模更大
LW
是对方的1.3倍
$1.2B
营收增速更快
LW
高出5.1%
-2.2%
自由现金流更多
TNET
多$79.3M
$-36.3M
两年增速更快
TNET
近两年复合增速
-1.5%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $54.0M | — |
| 毛利率 | 21.2% | — |
| 营业利润率 | 8.1% | 0.1% |
| 净利率 | 3.5% | — |
| 营收同比 | 2.9% | -2.2% |
| 净利润同比 | -63.0% | — |
| 每股收益（稀释后） | $0.39 | $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LWTNET
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.5B | $1.3B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.7B | $1.2B | ||
| Q2 24 | $1.6B | $1.2B |
净利润LWTNET
| Q1 26 | $54.0M | — | ||
| Q4 25 | $62.1M | — | ||
| Q3 25 | $64.3M | $34.0M | ||
| Q2 25 | $119.9M | $37.0M | ||
| Q1 25 | $146.0M | $85.0M | ||
| Q4 24 | $-36.1M | — | ||
| Q3 24 | $127.4M | $45.0M | ||
| Q2 24 | $129.6M | $60.0M |
毛利率LWTNET
| Q1 26 | 21.2% | — | ||
| Q4 25 | 20.0% | — | ||
| Q3 25 | 20.6% | — | ||
| Q2 25 | 20.4% | — | ||
| Q1 25 | 27.8% | — | ||
| Q4 24 | 17.4% | — | ||
| Q3 24 | 21.5% | — | ||
| Q2 24 | 24.1% | — |
营业利润率LWTNET
| Q1 26 | 8.1% | — | ||
| Q4 25 | 8.6% | 0.1% | ||
| Q3 25 | 9.4% | 4.1% | ||
| Q2 25 | 11.1% | 4.1% | ||
| Q1 25 | 16.4% | 8.9% | ||
| Q4 24 | 1.2% | -2.9% | ||
| Q3 24 | 12.8% | 4.7% | ||
| Q2 24 | 13.2% | 6.5% |
净利率LWTNET
| Q1 26 | 3.5% | — | ||
| Q4 25 | 3.8% | — | ||
| Q3 25 | 3.9% | 2.8% | ||
| Q2 25 | 7.2% | 3.0% | ||
| Q1 25 | 9.6% | 6.6% | ||
| Q4 24 | -2.3% | — | ||
| Q3 24 | 7.7% | 3.6% | ||
| Q2 24 | 8.0% | 4.9% |
每股收益（稀释后）LWTNET
| Q1 26 | $0.39 | — | ||
| Q4 25 | $0.44 | $0.02 | ||
| Q3 25 | $0.46 | $0.70 | ||
| Q2 25 | $0.84 | $0.77 | ||
| Q1 25 | $1.03 | $1.71 | ||
| Q4 24 | $-0.25 | $-0.44 | ||
| Q3 24 | $0.88 | $0.89 | ||
| Q2 24 | $0.89 | $1.20 |
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 | $57.5M | $287.0M |
| 总债务越低越好 | $3.6B | — |
| 股东权益账面价值 | $1.8B | $54.0M |
| 总资产 | $7.4B | $3.8B |
| 负债/权益比越低杠杆越低 | 1.99× | — |
8季度趋势，按日历期对齐
现金及短期投资LWTNET
| Q1 26 | $57.5M | — | ||
| Q4 25 | $82.7M | $287.0M | ||
| Q3 25 | $98.6M | $321.0M | ||
| Q2 25 | $70.7M | $407.0M | ||
| Q1 25 | $67.5M | $349.0M | ||
| Q4 24 | $79.0M | $360.0M | ||
| Q3 24 | $120.8M | $301.0M | ||
| Q2 24 | $71.4M | $249.0M |
总债务LWTNET
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.7B | — | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $3.4B | — | ||
| Q2 24 | $3.4B | — |
股东权益LWTNET
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.8B | $54.0M | ||
| Q3 25 | $1.8B | $110.0M | ||
| Q2 25 | $1.7B | $107.0M | ||
| Q1 25 | $1.6B | $63.0M | ||
| Q4 24 | $1.6B | $69.0M | ||
| Q3 24 | $1.8B | $129.0M | ||
| Q2 24 | $1.8B | $100.0M |
总资产LWTNET
| Q1 26 | $7.4B | — | ||
| Q4 25 | $7.3B | $3.8B | ||
| Q3 25 | $7.2B | $3.4B | ||
| Q2 25 | $7.4B | $3.7B | ||
| Q1 25 | $7.4B | $3.8B | ||
| Q4 24 | $7.5B | $4.1B | ||
| Q3 24 | $7.5B | $3.7B | ||
| Q2 24 | $7.4B | $3.7B |
负债/权益比LWTNET
| Q1 26 | 1.99× | — | ||
| Q4 25 | 2.08× | — | ||
| Q3 25 | 2.05× | — | ||
| Q2 25 | 2.12× | — | ||
| Q1 25 | 2.25× | — | ||
| Q4 24 | 2.26× | — | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 1.92× | — |
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 | $65.2M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $-36.3M | $43.0M |
| 自由现金流率自由现金流/营收 | -2.3% | 3.4% |
| 资本支出强度资本支出/营收 | 6.5% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.21× | — |
| 过去12个月自由现金流最近4个季度 | $569.2M | $234.0M |
8季度趋势，按日历期对齐
经营现金流LWTNET
| Q1 26 | $65.2M | — | ||
| Q4 25 | $178.4M | $61.0M | ||
| Q3 25 | $352.0M | $72.0M | ||
| Q2 25 | $868.3M | $75.0M | ||
| Q1 25 | $56.0M | $95.0M | ||
| Q4 24 | $99.1M | $65.0M | ||
| Q3 24 | $330.2M | $84.0M | ||
| Q2 24 | $798.2M | $39.0M |
自由现金流LWTNET
| Q1 26 | $-36.3M | — | ||
| Q4 25 | $101.0M | $43.0M | ||
| Q3 25 | $274.4M | $55.0M | ||
| Q2 25 | $230.1M | $57.0M | ||
| Q1 25 | $-19.8M | $79.0M | ||
| Q4 24 | $-49.6M | $47.0M | ||
| Q3 24 | $4.3M | $59.0M | ||
| Q2 24 | $-131.3M | $22.0M |
自由现金流率LWTNET
| Q1 26 | -2.3% | — | ||
| Q4 25 | 6.2% | 3.4% | ||
| Q3 25 | 16.5% | 4.5% | ||
| Q2 25 | 13.7% | 4.6% | ||
| Q1 25 | -1.3% | 6.1% | ||
| Q4 24 | -3.1% | 3.7% | ||
| Q3 24 | 0.3% | 4.8% | ||
| Q2 24 | -8.1% | 1.8% |
资本支出强度LWTNET
| Q1 26 | 6.5% | — | ||
| Q4 25 | 4.8% | 1.4% | ||
| Q3 25 | 4.7% | 1.4% | ||
| Q2 25 | 38.1% | 1.5% | ||
| Q1 25 | 5.0% | 1.2% | ||
| Q4 24 | 9.3% | 1.4% | ||
| Q3 24 | 19.7% | 2.0% | ||
| Q2 24 | 57.7% | 1.4% |
现金转化率LWTNET
| Q1 26 | 1.21× | — | ||
| Q4 25 | 2.87× | — | ||
| Q3 25 | 5.47× | 2.12× | ||
| Q2 25 | 7.24× | 2.03× | ||
| Q1 25 | 0.38× | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.59× | 1.87× | ||
| Q2 24 | 6.16× | 0.65× |
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
LW
| Segments North America | $1.0B | 66% |
| Segments International | $529.8M | 34% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
