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NetApp（NTAP）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
NetApp的季度营收约是TRINET GROUP, INC.的1.4倍（$1.7B vs $1.2B），NetApp同比增速更快（2.8% vs -2.2%），NetApp自由现金流更多（$78.0M vs $43.0M），过去两年NetApp的营收复合增速更高（3.0% vs -0.6%）
NetApp是总部位于美国加利福尼亚州圣何塞的企业级数据基础设施服务商，成立于1992年，2012至2021年连续入选《财富》世界500强。公司面向全球企业客户提供统一数据存储、集成数据服务及云运营解决方案，可满足线上线下全场景的应用与数据管理需求。
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。
NTAP vs TNET — 直观对比
营收规模更大
NTAP
是对方的1.4倍
$1.2B
营收增速更快
NTAP
高出5.0%
-2.2%
自由现金流更多
NTAP
多$35.0M
$43.0M
两年增速更快
NTAP
近两年复合增速
-0.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.2B |
| 净利润 | $305.0M | — |
| 毛利率 | 72.0% | — |
| 营业利润率 | 23.4% | 0.1% |
| 净利率 | 17.9% | — |
| 营收同比 | 2.8% | -2.2% |
| 净利润同比 | 2.0% | — |
| 每股收益（稀释后） | $1.51 | $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NTAPTNET
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.7B | $1.2B | ||
| Q1 24 | $1.6B | $1.3B |
净利润NTAPTNET
| Q4 25 | $305.0M | — | ||
| Q3 25 | $233.0M | $34.0M | ||
| Q2 25 | $340.0M | $37.0M | ||
| Q1 25 | $299.0M | $85.0M | ||
| Q4 24 | $299.0M | — | ||
| Q3 24 | $248.0M | $45.0M | ||
| Q2 24 | $291.0M | $60.0M | ||
| Q1 24 | $313.0M | $91.0M |
毛利率NTAPTNET
| Q4 25 | 72.0% | — | ||
| Q3 25 | 70.4% | — | ||
| Q2 25 | 68.9% | — | ||
| Q1 25 | 69.8% | — | ||
| Q4 24 | 71.0% | — | ||
| Q3 24 | 71.3% | — | ||
| Q2 24 | 70.5% | — | ||
| Q1 24 | 71.7% | — |
营业利润率NTAPTNET
| Q4 25 | 23.4% | 0.1% | ||
| Q3 25 | 19.8% | 4.1% | ||
| Q2 25 | 20.1% | 4.1% | ||
| Q1 25 | 22.1% | 8.9% | ||
| Q4 24 | 20.8% | -2.9% | ||
| Q3 24 | 18.3% | 4.7% | ||
| Q2 24 | 21.9% | 6.5% | ||
| Q1 24 | 22.8% | 9.7% |
净利率NTAPTNET
| Q4 25 | 17.9% | — | ||
| Q3 25 | 14.9% | 2.8% | ||
| Q2 25 | 19.6% | 3.0% | ||
| Q1 25 | 18.2% | 6.6% | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | 16.1% | 3.6% | ||
| Q2 24 | 17.4% | 4.9% | ||
| Q1 24 | 19.5% | 7.2% |
每股收益（稀释后）NTAPTNET
| Q4 25 | $1.51 | $0.02 | ||
| Q3 25 | $1.15 | $0.70 | ||
| Q2 25 | $1.64 | $0.77 | ||
| Q1 25 | $1.44 | $1.71 | ||
| Q4 24 | $1.42 | $-0.44 | ||
| Q3 24 | $1.17 | $0.89 | ||
| Q2 24 | $1.36 | $1.20 | ||
| Q1 24 | $1.48 | $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 | $3.0B | $287.0M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $986.0M | $54.0M |
| 总资产 | $9.6B | $3.8B |
| 负债/权益比越低杠杆越低 | 2.52× | — |
8季度趋势，按日历期对齐
现金及短期投资NTAPTNET
| Q4 25 | $3.0B | $287.0M | ||
| Q3 25 | $3.3B | $321.0M | ||
| Q2 25 | $3.8B | $407.0M | ||
| Q1 25 | $2.3B | $349.0M | ||
| Q4 24 | $2.2B | $360.0M | ||
| Q3 24 | $3.0B | $301.0M | ||
| Q2 24 | $3.3B | $249.0M | ||
| Q1 24 | $2.9B | $383.0M |
总债务NTAPTNET
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.4B | — |
股东权益NTAPTNET
| Q4 25 | $986.0M | $54.0M | ||
| Q3 25 | $975.0M | $110.0M | ||
| Q2 25 | $1.0B | $107.0M | ||
| Q1 25 | $995.0M | $63.0M | ||
| Q4 24 | $892.0M | $69.0M | ||
| Q3 24 | $929.0M | $129.0M | ||
| Q2 24 | $1.1B | $100.0M | ||
| Q1 24 | $994.0M | $143.0M |
总资产NTAPTNET
| Q4 25 | $9.6B | $3.8B | ||
| Q3 25 | $9.7B | $3.4B | ||
| Q2 25 | $10.8B | $3.7B | ||
| Q1 25 | $9.0B | $3.8B | ||
| Q4 24 | $9.0B | $4.1B | ||
| Q3 24 | $9.3B | $3.7B | ||
| Q2 24 | $9.9B | $3.7B | ||
| Q1 24 | $9.4B | $4.0B |
负债/权益比NTAPTNET
| Q4 25 | 2.52× | — | ||
| Q3 25 | 2.55× | — | ||
| Q2 25 | 3.11× | — | ||
| Q1 25 | 2.00× | — | ||
| Q4 24 | 2.23× | — | ||
| Q3 24 | 2.58× | — | ||
| Q2 24 | 2.09× | — | ||
| Q1 24 | 2.41× | — |
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 | $127.0M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $78.0M | $43.0M |
| 自由现金流率自由现金流/营收 | 4.6% | 3.4% |
| 资本支出强度资本支出/营收 | 2.9% | 1.4% |
| 现金转化率经营现金流/净利润 | 0.42× | — |
| 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NTAPTNET
| Q4 25 | $127.0M | $61.0M | ||
| Q3 25 | $673.0M | $72.0M | ||
| Q2 25 | — | $75.0M | ||
| Q1 25 | $385.0M | $95.0M | ||
| Q4 24 | — | $65.0M | ||
| Q3 24 | $341.0M | $84.0M | ||
| Q2 24 | $613.0M | $39.0M | ||
| Q1 24 | $484.0M | $91.0M |
自由现金流NTAPTNET
| Q4 25 | $78.0M | $43.0M | ||
| Q3 25 | $620.0M | $55.0M | ||
| Q2 25 | — | $57.0M | ||
| Q1 25 | $338.0M | $79.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | $300.0M | $59.0M | ||
| Q2 24 | $567.0M | $22.0M | ||
| Q1 24 | $448.0M | $73.0M |
自由现金流率NTAPTNET
| Q4 25 | 4.6% | 3.4% | ||
| Q3 25 | 39.8% | 4.5% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | 20.6% | 6.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | 19.5% | 4.8% | ||
| Q2 24 | 34.0% | 1.8% | ||
| Q1 24 | 27.9% | 5.8% |
资本支出强度NTAPTNET
| Q4 25 | 2.9% | 1.4% | ||
| Q3 25 | 3.4% | 1.4% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | 2.9% | 1.2% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 2.7% | 2.0% | ||
| Q2 24 | 2.8% | 1.4% | ||
| Q1 24 | 2.2% | 1.4% |
现金转化率NTAPTNET
| Q4 25 | 0.42× | — | ||
| Q3 25 | 2.89× | 2.12× | ||
| Q2 25 | — | 2.03× | ||
| Q1 25 | 1.29× | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.38× | 1.87× | ||
| Q2 24 | 2.11× | 0.65× | ||
| Q1 24 | 1.55× | 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
NTAP
| Products | $788.0M | 46% |
| Support | $647.0M | 38% |
| Public Cloud Segment | $171.0M | 10% |
| Professional And Other Services | $99.0M | 6% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
