vs
安森美半导体（ON）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
安森美半导体的季度营收约是TRINET GROUP, INC.的1.2倍（$1.6B vs $1.2B），TRINET GROUP, INC.同比增速更快（-2.2% vs -10.0%），安森美半导体自由现金流更多（$372.4M vs $43.0M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -12.3%）
安森美半导体旗下原仙童半导体是总部位于美国加利福尼亚州圣何塞的半导体企业，1957年由从肖克利半导体实验室离职的“八叛逆”创立，是晶体管和集成电路制造领域的先驱，曾历经多次股权变更，1997年再度独立运营后并入安森美。
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。
ON vs TNET — 直观对比
营收规模更大
ON
是对方的1.2倍
$1.2B
营收增速更快
TNET
高出7.8%
-10.0%
自由现金流更多
ON
多$329.4M
$43.0M
两年增速更快
TNET
近两年复合增速
-12.3%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $255.0M | — |
| 毛利率 | 37.9% | — |
| 营业利润率 | 17.0% | 0.1% |
| 净利率 | 16.4% | — |
| 营收同比 | -10.0% | -2.2% |
| 净利润同比 | -32.9% | — |
| 每股收益（稀释后） | $0.63 | $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ONTNET
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $1.8B | $1.2B | ||
| Q2 24 | $1.7B | $1.2B | ||
| Q1 24 | $1.9B | $1.3B |
净利润ONTNET
| Q4 25 | $255.0M | — | ||
| Q3 25 | $170.3M | $34.0M | ||
| Q2 25 | $-486.1M | $37.0M | ||
| Q1 25 | — | $85.0M | ||
| Q4 24 | $379.9M | — | ||
| Q3 24 | $401.7M | $45.0M | ||
| Q2 24 | $338.2M | $60.0M | ||
| Q1 24 | $453.0M | $91.0M |
毛利率ONTNET
| Q4 25 | 37.9% | — | ||
| Q3 25 | 37.6% | — | ||
| Q2 25 | 20.3% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 45.2% | — | ||
| Q3 24 | 45.4% | — | ||
| Q2 24 | 45.2% | — | ||
| Q1 24 | 45.8% | — |
营业利润率ONTNET
| Q4 25 | 17.0% | 0.1% | ||
| Q3 25 | 13.2% | 4.1% | ||
| Q2 25 | -39.7% | 4.1% | ||
| Q1 25 | — | 8.9% | ||
| Q4 24 | 23.7% | -2.9% | ||
| Q3 24 | 25.3% | 4.7% | ||
| Q2 24 | 22.4% | 6.5% | ||
| Q1 24 | 28.2% | 9.7% |
净利率ONTNET
| Q4 25 | 16.4% | — | ||
| Q3 25 | 11.6% | 2.8% | ||
| Q2 25 | -33.6% | 3.0% | ||
| Q1 25 | — | 6.6% | ||
| Q4 24 | 22.1% | — | ||
| Q3 24 | 22.8% | 3.6% | ||
| Q2 24 | 19.5% | 4.9% | ||
| Q1 24 | 24.3% | 7.2% |
每股收益（稀释后）ONTNET
| Q4 25 | $0.63 | $0.02 | ||
| Q3 25 | $0.41 | $0.70 | ||
| Q2 25 | $-1.15 | $0.77 | ||
| Q1 25 | — | $1.71 | ||
| Q4 24 | $0.88 | $-0.44 | ||
| Q3 24 | $0.93 | $0.89 | ||
| Q2 24 | $0.78 | $1.20 | ||
| Q1 24 | $1.04 | $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 | $2.9B | $287.0M |
| 总债务越低越好 | $3.4B | — |
| 股东权益账面价值 | $7.9B | $54.0M |
| 总资产 | $13.0B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资ONTNET
| Q4 25 | $2.9B | $287.0M | ||
| Q3 25 | $2.8B | $321.0M | ||
| Q2 25 | $3.0B | $407.0M | ||
| Q1 25 | — | $349.0M | ||
| Q4 24 | $3.0B | $360.0M | ||
| Q3 24 | $2.8B | $301.0M | ||
| Q2 24 | $2.7B | $249.0M | ||
| Q1 24 | $2.6B | $383.0M |
总债务ONTNET
| Q4 25 | $3.4B | — | ||
| Q3 25 | $3.4B | — | ||
| Q2 25 | $3.4B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | $3.4B | — | ||
| Q2 24 | $3.4B | — | ||
| Q1 24 | $3.4B | — |
股东权益ONTNET
| Q4 25 | $7.9B | $54.0M | ||
| Q3 25 | $7.9B | $110.0M | ||
| Q2 25 | $8.0B | $107.0M | ||
| Q1 25 | — | $63.0M | ||
| Q4 24 | $8.8B | $69.0M | ||
| Q3 24 | $8.6B | $129.0M | ||
| Q2 24 | $8.3B | $100.0M | ||
| Q1 24 | $8.1B | $143.0M |
总资产ONTNET
| Q4 25 | $13.0B | $3.8B | ||
| Q3 25 | $13.1B | $3.4B | ||
| Q2 25 | $13.3B | $3.7B | ||
| Q1 25 | — | $3.8B | ||
| Q4 24 | $14.1B | $4.1B | ||
| Q3 24 | $13.9B | $3.7B | ||
| Q2 24 | $13.7B | $3.7B | ||
| Q1 24 | $13.5B | $4.0B |
负债/权益比ONTNET
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.42× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.38× | — | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | 0.41× | — | ||
| Q1 24 | 0.42× | — |
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 | $418.7M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $372.4M | $43.0M |
| 自由现金流率自由现金流/营收 | 24.0% | 3.4% |
| 资本支出强度资本支出/营收 | 3.0% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.64× | — |
| 过去12个月自由现金流最近4个季度 | $1.4B | $234.0M |
8季度趋势，按日历期对齐
经营现金流ONTNET
| Q4 25 | $418.7M | $61.0M | ||
| Q3 25 | $184.3M | $72.0M | ||
| Q2 25 | $602.3M | $75.0M | ||
| Q1 25 | — | $95.0M | ||
| Q4 24 | $579.7M | $65.0M | ||
| Q3 24 | $465.8M | $84.0M | ||
| Q2 24 | $362.2M | $39.0M | ||
| Q1 24 | $498.7M | $91.0M |
自由现金流ONTNET
| Q4 25 | $372.4M | $43.0M | ||
| Q3 25 | $106.1M | $55.0M | ||
| Q2 25 | $454.7M | $57.0M | ||
| Q1 25 | — | $79.0M | ||
| Q4 24 | $434.8M | $47.0M | ||
| Q3 24 | $293.6M | $59.0M | ||
| Q2 24 | $207.7M | $22.0M | ||
| Q1 24 | $276.3M | $73.0M |
自由现金流率ONTNET
| Q4 25 | 24.0% | 3.4% | ||
| Q3 25 | 7.2% | 4.5% | ||
| Q2 25 | 31.5% | 4.6% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | 25.2% | 3.7% | ||
| Q3 24 | 16.7% | 4.8% | ||
| Q2 24 | 12.0% | 1.8% | ||
| Q1 24 | 14.8% | 5.8% |
资本支出强度ONTNET
| Q4 25 | 3.0% | 1.4% | ||
| Q3 25 | 5.3% | 1.4% | ||
| Q2 25 | 10.2% | 1.5% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | 8.4% | 1.4% | ||
| Q3 24 | 9.8% | 2.0% | ||
| Q2 24 | 8.9% | 1.4% | ||
| Q1 24 | 11.9% | 1.4% |
现金转化率ONTNET
| Q4 25 | 1.64× | — | ||
| Q3 25 | 1.08× | 2.12× | ||
| Q2 25 | — | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | 1.53× | — | ||
| Q3 24 | 1.16× | 1.87× | ||
| Q2 24 | 1.07× | 0.65× | ||
| Q1 24 | 1.10× | 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
ON
| Industrial Segment | $426.3M | 27% |
| Other End Markets Segment | $337.3M | 22% |
| Intelligent Sensing Segments | $284.0M | 18% |
| Direct Customers | $282.4M | 18% |
| Intelligent Sensing Group | $230.0M | 15% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
