vs
Realty Income（O）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
Realty Income的季度营收约是TRINET GROUP, INC.的1.2倍（$1.5B vs $1.2B），Realty Income同比增速更快（11.0% vs -2.2%），Realty Income自由现金流更多（$1.2B vs $43.0M），过去两年Realty Income的营收复合增速更高（8.6% vs -0.6%）
Realty Income是一家房地产投资信托企业，投资范围覆盖美国、英国及欧洲其他六个国家的独立单租户商业地产，旗下物业普遍采用三重净租约模式。公司注册地为美国马里兰州，总部位于加利福尼亚州圣迭戈市。
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。
O vs TNET — 直观对比
营收规模更大
O
是对方的1.2倍
$1.2B
营收增速更快
O
高出13.2%
-2.2%
自由现金流更多
O
多$1.1B
$43.0M
两年增速更快
O
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.2B |
| 净利润 | $296.1M | — |
| 毛利率 | — | — |
| 营业利润率 | 21.7% | 0.1% |
| 净利率 | 19.9% | — |
| 营收同比 | 11.0% | -2.2% |
| 净利润同比 | 48.3% | — |
| 每股收益（稀释后） | $0.32 | $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OTNET
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.3B | $1.3B |
净利润OTNET
| Q4 25 | $296.1M | — | ||
| Q3 25 | $315.8M | $34.0M | ||
| Q2 25 | $196.9M | $37.0M | ||
| Q1 25 | $249.8M | $85.0M | ||
| Q4 24 | $199.6M | — | ||
| Q3 24 | $269.5M | $45.0M | ||
| Q2 24 | $259.4M | $60.0M | ||
| Q1 24 | $132.3M | $91.0M |
营业利润率OTNET
| Q4 25 | 21.7% | 0.1% | ||
| Q3 25 | 23.2% | 4.1% | ||
| Q2 25 | 15.8% | 4.1% | ||
| Q1 25 | 19.3% | 8.9% | ||
| Q4 24 | 16.5% | -2.9% | ||
| Q3 24 | 21.5% | 4.7% | ||
| Q2 24 | 20.7% | 6.5% | ||
| Q1 24 | 11.9% | 9.7% |
净利率OTNET
| Q4 25 | 19.9% | — | ||
| Q3 25 | 21.5% | 2.8% | ||
| Q2 25 | 14.0% | 3.0% | ||
| Q1 25 | 18.1% | 6.6% | ||
| Q4 24 | 14.9% | — | ||
| Q3 24 | 20.2% | 3.6% | ||
| Q2 24 | 19.4% | 4.9% | ||
| Q1 24 | 10.5% | 7.2% |
每股收益（稀释后）OTNET
| Q4 25 | $0.32 | $0.02 | ||
| Q3 25 | $0.35 | $0.70 | ||
| Q2 25 | $0.22 | $0.77 | ||
| Q1 25 | $0.28 | $1.71 | ||
| Q4 24 | $0.23 | $-0.44 | ||
| Q3 24 | $0.30 | $0.89 | ||
| Q2 24 | $0.29 | $1.20 | ||
| Q1 24 | $0.16 | $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 | $434.8M | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $39.4B | $54.0M |
| 总资产 | $72.8B | $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OTNET
| Q4 25 | $434.8M | $287.0M | ||
| Q3 25 | $417.2M | $321.0M | ||
| Q2 25 | $800.4M | $407.0M | ||
| Q1 25 | $319.0M | $349.0M | ||
| Q4 24 | $445.0M | $360.0M | ||
| Q3 24 | $397.0M | $301.0M | ||
| Q2 24 | $442.8M | $249.0M | ||
| Q1 24 | $680.2M | $383.0M |
股东权益OTNET
| Q4 25 | $39.4B | $54.0M | ||
| Q3 25 | $39.1B | $110.0M | ||
| Q2 25 | $39.2B | $107.0M | ||
| Q1 25 | $39.0B | $63.0M | ||
| Q4 24 | $38.8B | $69.0M | ||
| Q3 24 | $38.5B | $129.0M | ||
| Q2 24 | $38.6B | $100.0M | ||
| Q1 24 | $39.0B | $143.0M |
总资产OTNET
| Q4 25 | $72.8B | $3.8B | ||
| Q3 25 | $71.3B | $3.4B | ||
| Q2 25 | $71.4B | $3.7B | ||
| Q1 25 | $69.8B | $3.8B | ||
| Q4 24 | $68.8B | $4.1B | ||
| Q3 24 | $68.5B | $3.7B | ||
| Q2 24 | $68.1B | $3.7B | ||
| Q1 24 | $68.3B | $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 | $1.2B | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $1.2B | $43.0M |
| 自由现金流率自由现金流/营收 | 77.6% | 3.4% |
| 资本支出强度资本支出/营收 | 3.3% | 1.4% |
| 现金转化率经营现金流/净利润 | 4.06× | — |
| 过去12个月自由现金流最近4个季度 | $3.9B | $234.0M |
8季度趋势，按日历期对齐
经营现金流OTNET
| Q4 25 | $1.2B | $61.0M | ||
| Q3 25 | $943.1M | $72.0M | ||
| Q2 25 | $1.1B | $75.0M | ||
| Q1 25 | $787.5M | $95.0M | ||
| Q4 24 | $972.0M | $65.0M | ||
| Q3 24 | $841.5M | $84.0M | ||
| Q2 24 | $981.2M | $39.0M | ||
| Q1 24 | $778.7M | $91.0M |
自由现金流OTNET
| Q4 25 | $1.2B | $43.0M | ||
| Q3 25 | $909.9M | $55.0M | ||
| Q2 25 | $1.0B | $57.0M | ||
| Q1 25 | $764.6M | $79.0M | ||
| Q4 24 | $935.8M | $47.0M | ||
| Q3 24 | $807.9M | $59.0M | ||
| Q2 24 | $939.2M | $22.0M | ||
| Q1 24 | $769.0M | $73.0M |
自由现金流率OTNET
| Q4 25 | 77.6% | 3.4% | ||
| Q3 25 | 61.9% | 4.5% | ||
| Q2 25 | 73.3% | 4.6% | ||
| Q1 25 | 55.4% | 6.1% | ||
| Q4 24 | 69.8% | 3.7% | ||
| Q3 24 | 60.7% | 4.8% | ||
| Q2 24 | 70.1% | 1.8% | ||
| Q1 24 | 61.0% | 5.8% |
资本支出强度OTNET
| Q4 25 | 3.3% | 1.4% | ||
| Q3 25 | 2.3% | 1.4% | ||
| Q2 25 | 1.9% | 1.5% | ||
| Q1 25 | 1.7% | 1.2% | ||
| Q4 24 | 2.7% | 1.4% | ||
| Q3 24 | 2.5% | 2.0% | ||
| Q2 24 | 3.1% | 1.4% | ||
| Q1 24 | 0.8% | 1.4% |
现金转化率OTNET
| Q4 25 | 4.06× | — | ||
| Q3 25 | 2.99× | 2.12× | ||
| Q2 25 | 5.39× | 2.03× | ||
| Q1 25 | 3.15× | 1.12× | ||
| Q4 24 | 4.87× | — | ||
| Q3 24 | 3.12× | 1.87× | ||
| Q2 24 | 3.78× | 0.65× | ||
| Q1 24 | 5.89× | 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
O
| Product And Service Retail | $900.8M | 61% |
| Other | $531.5M | 36% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
