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NATIONAL FUEL GAS CO（NFG）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NATIONAL FUEL GAS CO的2.0倍（$1.2B vs $637.9M），NATIONAL FUEL GAS CO同比增速更快（24.1% vs -2.2%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $-2.7M），过去两年NATIONAL FUEL GAS CO的营收复合增速更高（6.9% vs -0.6%）
该多元化能源企业成立于1902年，总部位于美国纽约州威廉斯维尔，总资产达62亿美元，下设勘探与生产、管道与存储、燃气集输、公用事业、能源营销五大运营板块，业务覆盖能源产业链上下游多个核心环节。
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。
NFG vs TNET — 直观对比
营收规模更大
TNET
是对方的2.0倍
$637.9M
营收增速更快
NFG
高出26.3%
-2.2%
自由现金流更多
TNET
多$45.7M
$-2.7M
两年增速更快
NFG
近两年复合增速
-0.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $637.9M | $1.2B |
| 净利润 | $181.6M | — |
| 毛利率 | 86.6% | — |
| 营业利润率 | 43.3% | 0.1% |
| 净利率 | 28.5% | — |
| 营收同比 | 24.1% | -2.2% |
| 净利润同比 | 303.8% | — |
| 每股收益（稀释后） | $1.98 | $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NFGTNET
| Q4 25 | $637.9M | $1.2B | ||
| Q3 25 | $443.1M | $1.2B | ||
| Q2 25 | $527.4M | $1.2B | ||
| Q1 25 | $734.8M | $1.3B | ||
| Q4 24 | $513.8M | $1.3B | ||
| Q3 24 | $310.0M | $1.2B | ||
| Q2 24 | $338.6M | $1.2B | ||
| Q1 24 | $558.7M | $1.3B |
净利润NFGTNET
| Q4 25 | $181.6M | — | ||
| Q3 25 | $107.3M | $34.0M | ||
| Q2 25 | $149.8M | $37.0M | ||
| Q1 25 | $216.4M | $85.0M | ||
| Q4 24 | $45.0M | — | ||
| Q3 24 | $-167.6M | $45.0M | ||
| Q2 24 | $-54.2M | $60.0M | ||
| Q1 24 | $166.3M | $91.0M |
毛利率NFGTNET
| Q4 25 | 86.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 94.7% | — | ||
| Q1 25 | 81.6% | — | ||
| Q4 24 | 87.3% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 98.5% | — | ||
| Q1 24 | 81.0% | — |
营业利润率NFGTNET
| Q4 25 | 43.3% | 0.1% | ||
| Q3 25 | 40.6% | 4.1% | ||
| Q2 25 | 43.7% | 4.1% | ||
| Q1 25 | 43.2% | 8.9% | ||
| Q4 24 | 16.8% | -2.9% | ||
| Q3 24 | -63.4% | 4.7% | ||
| Q2 24 | -15.2% | 6.5% | ||
| Q1 24 | 44.9% | 9.7% |
净利率NFGTNET
| Q4 25 | 28.5% | — | ||
| Q3 25 | 24.2% | 2.8% | ||
| Q2 25 | 28.4% | 3.0% | ||
| Q1 25 | 29.4% | 6.6% | ||
| Q4 24 | 8.8% | — | ||
| Q3 24 | -54.1% | 3.6% | ||
| Q2 24 | -16.0% | 4.9% | ||
| Q1 24 | 29.8% | 7.2% |
每股收益（稀释后）NFGTNET
| Q4 25 | $1.98 | $0.02 | ||
| Q3 25 | $1.18 | $0.70 | ||
| Q2 25 | $1.64 | $0.77 | ||
| Q1 25 | $2.37 | $1.71 | ||
| Q4 24 | $0.49 | $-0.44 | ||
| Q3 24 | $-1.81 | $0.89 | ||
| Q2 24 | $-0.59 | $1.20 | ||
| Q1 24 | $1.80 | $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 | $271.4M | $287.0M |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $3.6B | $54.0M |
| 总资产 | $9.2B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.75× | — |
8季度趋势，按日历期对齐
现金及短期投资NFGTNET
| Q4 25 | $271.4M | $287.0M | ||
| Q3 25 | $43.2M | $321.0M | ||
| Q2 25 | $39.3M | $407.0M | ||
| Q1 25 | $40.0M | $349.0M | ||
| Q4 24 | $48.7M | $360.0M | ||
| Q3 24 | $38.2M | $301.0M | ||
| Q2 24 | $81.4M | $249.0M | ||
| Q1 24 | $50.8M | $383.0M |
总债务NFGTNET
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $2.7B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.4B | — |
股东权益NFGTNET
| Q4 25 | $3.6B | $54.0M | ||
| Q3 25 | $3.1B | $110.0M | ||
| Q2 25 | $3.0B | $107.0M | ||
| Q1 25 | $2.8B | $63.0M | ||
| Q4 24 | $-76.2M | $69.0M | ||
| Q3 24 | $-15.5M | $129.0M | ||
| Q2 24 | $5.0M | $100.0M | ||
| Q1 24 | $75.3M | $143.0M |
总资产NFGTNET
| Q4 25 | $9.2B | $3.8B | ||
| Q3 25 | $8.7B | $3.4B | ||
| Q2 25 | $8.4B | $3.7B | ||
| Q1 25 | $8.5B | $3.8B | ||
| Q4 24 | $8.3B | $4.1B | ||
| Q3 24 | $8.3B | $3.7B | ||
| Q2 24 | $8.5B | $3.7B | ||
| Q1 24 | $8.7B | $4.0B |
负债/权益比NFGTNET
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.87× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | 0.99× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 532.10× | — | ||
| Q1 24 | 31.68× | — |
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 | $274.9M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $-2.7M | $43.0M |
| 自由现金流率自由现金流/营收 | -0.4% | 3.4% |
| 资本支出强度资本支出/营收 | 43.5% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.51× | — |
| 过去12个月自由现金流最近4个季度 | $204.8M | $234.0M |
8季度趋势，按日历期对齐
经营现金流NFGTNET
| Q4 25 | $274.9M | $61.0M | ||
| Q3 25 | $237.8M | $72.0M | ||
| Q2 25 | $388.4M | $75.0M | ||
| Q1 25 | $253.8M | $95.0M | ||
| Q4 24 | $220.1M | $65.0M | ||
| Q3 24 | $197.9M | $84.0M | ||
| Q2 24 | $281.8M | $39.0M | ||
| Q1 24 | $315.3M | $91.0M |
自由现金流NFGTNET
| Q4 25 | $-2.7M | $43.0M | ||
| Q3 25 | $-47.8M | $55.0M | ||
| Q2 25 | $195.3M | $57.0M | ||
| Q1 25 | $59.9M | $79.0M | ||
| Q4 24 | $-20.3M | $47.0M | ||
| Q3 24 | $-49.1M | $59.0M | ||
| Q2 24 | $79.5M | $22.0M | ||
| Q1 24 | $80.3M | $73.0M |
自由现金流率NFGTNET
| Q4 25 | -0.4% | 3.4% | ||
| Q3 25 | -10.8% | 4.5% | ||
| Q2 25 | 37.0% | 4.6% | ||
| Q1 25 | 8.2% | 6.1% | ||
| Q4 24 | -4.0% | 3.7% | ||
| Q3 24 | -15.8% | 4.8% | ||
| Q2 24 | 23.5% | 1.8% | ||
| Q1 24 | 14.4% | 5.8% |
资本支出强度NFGTNET
| Q4 25 | 43.5% | 1.4% | ||
| Q3 25 | 64.4% | 1.4% | ||
| Q2 25 | 36.6% | 1.5% | ||
| Q1 25 | 26.4% | 1.2% | ||
| Q4 24 | 46.8% | 1.4% | ||
| Q3 24 | 79.7% | 2.0% | ||
| Q2 24 | 59.7% | 1.4% | ||
| Q1 24 | 42.1% | 1.4% |
现金转化率NFGTNET
| Q4 25 | 1.51× | — | ||
| Q3 25 | 2.21× | 2.12× | ||
| Q2 25 | 2.59× | 2.03× | ||
| Q1 25 | 1.17× | 1.12× | ||
| Q4 24 | 4.89× | — | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | 1.90× | 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
NFG
| Natural Gas Production | $302.5M | 47% |
| Natural Gas Residential Sales | $198.0M | 31% |
| Pipeline And Storage | $69.2M | 11% |
| Natural Gas Commercial Sales | $27.9M | 4% |
| Natural Gas Storage | $25.1M | 4% |
| Other | $4.1M | 1% |
| Natural Gas Midstream | $2.8M | 0% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
