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Northern Trust（NTRS）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
Northern Trust的季度营收约是TRINET GROUP, INC.的1.8倍（$2.2B vs $1.2B），Northern Trust同比增速更快（13.8% vs -2.2%），过去两年Northern Trust的营收复合增速更高（37.8% vs -0.6%）
Northern Trust是总部位于美国伊利诺伊州芝加哥的专业金融服务企业，主要服务对象包括各类企业、机构投资者以及超高净值个人客户，是美国规模最大、持续运营历史最悠久的银行机构之一。截至2025年12月末，其管理资产规模达1.8万亿美元，托管资产规模达14.9万亿美元。
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。
NTRS vs TNET — 直观对比
营收规模更大
NTRS
是对方的1.8倍
$1.2B
营收增速更快
NTRS
高出15.9%
-2.2%
两年增速更快
NTRS
近两年复合增速
-0.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.2B |
| 净利润 | $525.5M | — |
| 毛利率 | — | — |
| 营业利润率 | — | 0.1% |
| 净利率 | 23.7% | — |
| 营收同比 | 13.8% | -2.2% |
| 净利润同比 | 13.0% | — |
| 每股收益（稀释后） | $2.71 | $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NTRSTNET
| Q1 26 | $2.2B | — | ||
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.2B | $1.2B |
净利润NTRSTNET
| Q1 26 | $525.5M | — | ||
| Q4 25 | $466.0M | — | ||
| Q3 25 | $457.6M | $34.0M | ||
| Q2 25 | $421.3M | $37.0M | ||
| Q1 25 | $392.0M | $85.0M | ||
| Q4 24 | $455.4M | — | ||
| Q3 24 | $464.9M | $45.0M | ||
| Q2 24 | $896.1M | $60.0M |
营业利润率NTRSTNET
| Q1 26 | — | — | ||
| Q4 25 | 48.5% | 0.1% | ||
| Q3 25 | 49.0% | 4.1% | ||
| Q2 25 | 45.9% | 4.1% | ||
| Q1 25 | 43.0% | 8.9% | ||
| Q4 24 | 48.6% | -2.9% | ||
| Q3 24 | 50.2% | 4.7% | ||
| Q2 24 | — | 6.5% |
净利率NTRSTNET
| Q1 26 | 23.7% | — | ||
| Q4 25 | 35.6% | — | ||
| Q3 25 | 36.2% | 2.8% | ||
| Q2 25 | 34.2% | 3.0% | ||
| Q1 25 | 32.3% | 6.6% | ||
| Q4 24 | 37.3% | — | ||
| Q3 24 | 38.9% | 3.6% | ||
| Q2 24 | 76.8% | 4.9% |
每股收益（稀释后）NTRSTNET
| Q1 26 | $2.71 | — | ||
| Q4 25 | $2.42 | $0.02 | ||
| Q3 25 | $2.29 | $0.70 | ||
| Q2 25 | $2.13 | $0.77 | ||
| Q1 25 | $1.90 | $1.71 | ||
| Q4 24 | $2.25 | $-0.44 | ||
| Q3 24 | $2.22 | $0.89 | ||
| Q2 24 | $4.34 | $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 | — | $287.0M |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | $13.0B | $54.0M |
| 总资产 | $174.6B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.22× | — |
8季度趋势，按日历期对齐
现金及短期投资NTRSTNET
| Q1 26 | — | — | ||
| Q4 25 | — | $287.0M | ||
| Q3 25 | — | $321.0M | ||
| Q2 25 | — | $407.0M | ||
| Q1 25 | — | $349.0M | ||
| Q4 24 | — | $360.0M | ||
| Q3 24 | — | $301.0M | ||
| Q2 24 | — | $249.0M |
总债务NTRSTNET
| Q1 26 | $2.9B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益NTRSTNET
| Q1 26 | $13.0B | — | ||
| Q4 25 | $13.0B | $54.0M | ||
| Q3 25 | $13.0B | $110.0M | ||
| Q2 25 | $12.9B | $107.0M | ||
| Q1 25 | $12.9B | $63.0M | ||
| Q4 24 | $12.8B | $69.0M | ||
| Q3 24 | $12.7B | $129.0M | ||
| Q2 24 | $12.7B | $100.0M |
总资产NTRSTNET
| Q1 26 | $174.6B | — | ||
| Q4 25 | $177.1B | $3.8B | ||
| Q3 25 | $170.3B | $3.4B | ||
| Q2 25 | $171.9B | $3.7B | ||
| Q1 25 | $165.1B | $3.8B | ||
| Q4 24 | $155.5B | $4.1B | ||
| Q3 24 | $155.8B | $3.7B | ||
| Q2 24 | $156.8B | $3.7B |
负债/权益比NTRSTNET
| Q1 26 | 0.22× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $61.0M |
| 自由现金流经营现金流 - 资本支出 | — | $43.0M |
| 自由现金流率自由现金流/营收 | — | 3.4% |
| 资本支出强度资本支出/营收 | — | 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NTRSTNET
| Q1 26 | — | — | ||
| Q4 25 | $388.4M | $61.0M | ||
| Q3 25 | $525.8M | $72.0M | ||
| Q2 25 | $1.9B | $75.0M | ||
| Q1 25 | $2.7B | $95.0M | ||
| Q4 24 | $-2.6B | $65.0M | ||
| Q3 24 | $611.1M | $84.0M | ||
| Q2 24 | $3.0B | $39.0M |
自由现金流NTRSTNET
| Q1 26 | — | — | ||
| Q4 25 | $355.6M | $43.0M | ||
| Q3 25 | $509.4M | $55.0M | ||
| Q2 25 | $1.9B | $57.0M | ||
| Q1 25 | $2.7B | $79.0M | ||
| Q4 24 | $-2.7B | $47.0M | ||
| Q3 24 | $585.4M | $59.0M | ||
| Q2 24 | $3.0B | $22.0M |
自由现金流率NTRSTNET
| Q1 26 | — | — | ||
| Q4 25 | 27.2% | 3.4% | ||
| Q3 25 | 40.3% | 4.5% | ||
| Q2 25 | 150.8% | 4.6% | ||
| Q1 25 | 225.5% | 6.1% | ||
| Q4 24 | -218.9% | 3.7% | ||
| Q3 24 | 48.9% | 4.8% | ||
| Q2 24 | 254.7% | 1.8% |
资本支出强度NTRSTNET
| Q1 26 | — | — | ||
| Q4 25 | 2.5% | 1.4% | ||
| Q3 25 | 1.3% | 1.4% | ||
| Q2 25 | 1.0% | 1.5% | ||
| Q1 25 | 1.0% | 1.2% | ||
| Q4 24 | 3.3% | 1.4% | ||
| Q3 24 | 2.1% | 2.0% | ||
| Q2 24 | 1.8% | 1.4% |
现金转化率NTRSTNET
| Q1 26 | — | — | ||
| Q4 25 | 0.83× | — | ||
| Q3 25 | 1.15× | 2.12× | ||
| Q2 25 | 4.44× | 2.03× | ||
| Q1 25 | 7.01× | 1.12× | ||
| Q4 24 | -5.79× | — | ||
| Q3 24 | 1.31× | 1.87× | ||
| Q2 24 | 3.34× | 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
NTRS
| Trust, Investment and Other Servicing Fees | $1.3B | 61% |
| Other | $871.8M | 39% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
