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Natera, Inc.（NTRA）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Natera, Inc.的1.9倍（$1.2B vs $665.5M），Natera, Inc.同比增速更快（39.8% vs -2.2%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $37.8M），过去两年Natera, Inc.的营收复合增速更高（34.5% vs -0.6%）
Natera是总部位于美国得克萨斯州奥斯汀的临床基因检测企业，主打无创游离DNA（cfDNA）检测技术，业务覆盖女性健康、肿瘤及器官健康三大核心赛道。其自研专利技术结合前沿分子生物学手段与生物信息学工具矩阵，可实现单管血液样本中低至单个分子级别的高灵敏度检测。
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。
NTRA vs TNET — 直观对比
营收规模更大
TNET
是对方的1.9倍
$665.5M
营收增速更快
NTRA
高出42.0%
-2.2%
自由现金流更多
TNET
多$5.2M
$37.8M
两年增速更快
NTRA
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $665.5M | $1.2B |
| 净利润 | $47.3M | — |
| 毛利率 | — | — |
| 营业利润率 | -3.4% | 0.1% |
| 净利率 | 7.1% | — |
| 营收同比 | 39.8% | -2.2% |
| 净利润同比 | 187.9% | — |
| 每股收益（稀释后） | $0.36 | $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NTRATNET
| Q4 25 | $665.5M | $1.2B | ||
| Q3 25 | $592.2M | $1.2B | ||
| Q2 25 | $546.6M | $1.2B | ||
| Q1 25 | $501.8M | $1.3B | ||
| Q4 24 | $476.1M | $1.3B | ||
| Q3 24 | $439.8M | $1.2B | ||
| Q2 24 | $413.4M | $1.2B | ||
| Q1 24 | $367.7M | $1.3B |
净利润NTRATNET
| Q4 25 | $47.3M | — | ||
| Q3 25 | $-87.5M | $34.0M | ||
| Q2 25 | $-100.9M | $37.0M | ||
| Q1 25 | $-66.9M | $85.0M | ||
| Q4 24 | $-53.8M | — | ||
| Q3 24 | $-31.6M | $45.0M | ||
| Q2 24 | $-37.5M | $60.0M | ||
| Q1 24 | $-67.6M | $91.0M |
营业利润率NTRATNET
| Q4 25 | -3.4% | 0.1% | ||
| Q3 25 | -16.5% | 4.1% | ||
| Q2 25 | -20.2% | 4.1% | ||
| Q1 25 | -15.8% | 8.9% | ||
| Q4 24 | -13.6% | -2.9% | ||
| Q3 24 | -8.9% | 4.7% | ||
| Q2 24 | -10.6% | 6.5% | ||
| Q1 24 | -20.2% | 9.7% |
净利率NTRATNET
| Q4 25 | 7.1% | — | ||
| Q3 25 | -14.8% | 2.8% | ||
| Q2 25 | -18.5% | 3.0% | ||
| Q1 25 | -13.3% | 6.6% | ||
| Q4 24 | -11.3% | — | ||
| Q3 24 | -7.2% | 3.6% | ||
| Q2 24 | -9.1% | 4.9% | ||
| Q1 24 | -18.4% | 7.2% |
每股收益（稀释后）NTRATNET
| Q4 25 | $0.36 | $0.02 | ||
| Q3 25 | $-0.64 | $0.70 | ||
| Q2 25 | $-0.74 | $0.77 | ||
| Q1 25 | $-0.50 | $1.71 | ||
| Q4 24 | $-0.41 | $-0.44 | ||
| Q3 24 | $-0.26 | $0.89 | ||
| Q2 24 | $-0.30 | $1.20 | ||
| Q1 24 | $-0.56 | $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 | $1.7B | $54.0M |
| 总资产 | $2.4B | $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NTRATNET
| Q4 25 | — | $287.0M | ||
| Q3 25 | $1.0M | $321.0M | ||
| Q2 25 | $16.0M | $407.0M | ||
| Q1 25 | $17.8M | $349.0M | ||
| Q4 24 | $22.7M | $360.0M | ||
| Q3 24 | $29.5M | $301.0M | ||
| Q2 24 | $90.3M | $249.0M | ||
| Q1 24 | $69.1M | $383.0M |
股东权益NTRATNET
| Q4 25 | $1.7B | $54.0M | ||
| Q3 25 | $1.3B | $110.0M | ||
| Q2 25 | $1.2B | $107.0M | ||
| Q1 25 | $1.2B | $63.0M | ||
| Q4 24 | $1.2B | $69.0M | ||
| Q3 24 | $878.5M | $129.0M | ||
| Q2 24 | $836.5M | $100.0M | ||
| Q1 24 | $794.1M | $143.0M |
总资产NTRATNET
| Q4 25 | $2.4B | $3.8B | ||
| Q3 25 | $1.8B | $3.4B | ||
| Q2 25 | $1.8B | $3.7B | ||
| Q1 25 | $1.7B | $3.8B | ||
| Q4 24 | $1.7B | $4.1B | ||
| Q3 24 | $1.6B | $3.7B | ||
| Q2 24 | $1.5B | $3.7B | ||
| Q1 24 | $1.5B | $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 | $73.9M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $37.8M | $43.0M |
| 自由现金流率自由现金流/营收 | 5.7% | 3.4% |
| 资本支出强度资本支出/营收 | 5.4% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.56× | — |
| 过去12个月自由现金流最近4个季度 | $109.1M | $234.0M |
8季度趋势，按日历期对齐
经营现金流NTRATNET
| Q4 25 | $73.9M | $61.0M | ||
| Q3 25 | $59.4M | $72.0M | ||
| Q2 25 | $37.6M | $75.0M | ||
| Q1 25 | $44.5M | $95.0M | ||
| Q4 24 | $52.9M | $65.0M | ||
| Q3 24 | $51.8M | $84.0M | ||
| Q2 24 | $4.0M | $39.0M | ||
| Q1 24 | $27.0M | $91.0M |
自由现金流NTRATNET
| Q4 25 | $37.8M | $43.0M | ||
| Q3 25 | $37.0M | $55.0M | ||
| Q2 25 | $11.7M | $57.0M | ||
| Q1 25 | $22.6M | $79.0M | ||
| Q4 24 | $34.8M | $47.0M | ||
| Q3 24 | $35.5M | $59.0M | ||
| Q2 24 | $-7.7M | $22.0M | ||
| Q1 24 | $6.7M | $73.0M |
自由现金流率NTRATNET
| Q4 25 | 5.7% | 3.4% | ||
| Q3 25 | 6.2% | 4.5% | ||
| Q2 25 | 2.1% | 4.6% | ||
| Q1 25 | 4.5% | 6.1% | ||
| Q4 24 | 7.3% | 3.7% | ||
| Q3 24 | 8.1% | 4.8% | ||
| Q2 24 | -1.9% | 1.8% | ||
| Q1 24 | 1.8% | 5.8% |
资本支出强度NTRATNET
| Q4 25 | 5.4% | 1.4% | ||
| Q3 25 | 3.8% | 1.4% | ||
| Q2 25 | 4.7% | 1.5% | ||
| Q1 25 | 4.3% | 1.2% | ||
| Q4 24 | 3.8% | 1.4% | ||
| Q3 24 | 3.7% | 2.0% | ||
| Q2 24 | 2.8% | 1.4% | ||
| Q1 24 | 5.5% | 1.4% |
现金转化率NTRATNET
| Q4 25 | 1.56× | — | ||
| 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
NTRA
暂无分部数据
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
