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OPEN TEXT CORP（OTEX）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
OPEN TEXT CORP的季度营收约是TRINET GROUP, INC.的1.1倍（$1.3B vs $1.2B），OPEN TEXT CORP同比增速更快（-0.6% vs -2.2%），OPEN TEXT CORP自由现金流更多（$279.4M vs $43.0M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -4.3%）
Open Text Corporation是全球知名的跨国软件企业，专注于信息管理类软件的研发与销售，业务覆盖全球众多国家和地区，可为各行业客户提供成熟的信息管理解决方案，助力企业高效管理数据资产，推进数字化转型落地。
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。
OTEX vs TNET — 直观对比
营收规模更大
OTEX
是对方的1.1倍
$1.2B
营收增速更快
OTEX
高出1.6%
-2.2%
自由现金流更多
OTEX
多$236.4M
$43.0M
两年增速更快
TNET
近两年复合增速
-4.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.2B |
| 净利润 | $168.1M | — |
| 毛利率 | 74.0% | — |
| 营业利润率 | 22.0% | 0.1% |
| 净利率 | 12.7% | — |
| 营收同比 | -0.6% | -2.2% |
| 净利润同比 | -26.9% | — |
| 每股收益（稀释后） | $0.66 | $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OTEXTNET
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.4B | $1.3B |
净利润OTEXTNET
| Q4 25 | $168.1M | — | ||
| Q3 25 | $146.6M | $34.0M | ||
| Q2 25 | $28.8M | $37.0M | ||
| Q1 25 | $92.8M | $85.0M | ||
| Q4 24 | $229.9M | — | ||
| Q3 24 | $84.4M | $45.0M | ||
| Q2 24 | $248.2M | $60.0M | ||
| Q1 24 | $98.3M | $91.0M |
毛利率OTEXTNET
| Q4 25 | 74.0% | — | ||
| Q3 25 | 72.8% | — | ||
| Q2 25 | 72.3% | — | ||
| Q1 25 | 71.6% | — | ||
| Q4 24 | 73.3% | — | ||
| Q3 24 | 71.7% | — | ||
| Q2 24 | 72.5% | — | ||
| Q1 24 | 73.0% | — |
营业利润率OTEXTNET
| Q4 25 | 22.0% | 0.1% | ||
| Q3 25 | 21.0% | 4.1% | ||
| Q2 25 | 13.9% | 4.1% | ||
| Q1 25 | 16.7% | 8.9% | ||
| Q4 24 | 22.2% | -2.9% | ||
| Q3 24 | 16.3% | 4.7% | ||
| Q2 24 | 14.2% | 6.5% | ||
| Q1 24 | 15.7% | 9.7% |
净利率OTEXTNET
| Q4 25 | 12.7% | — | ||
| Q3 25 | 11.4% | 2.8% | ||
| Q2 25 | 2.2% | 3.0% | ||
| Q1 25 | 7.4% | 6.6% | ||
| Q4 24 | 17.2% | — | ||
| Q3 24 | 6.6% | 3.6% | ||
| Q2 24 | 18.2% | 4.9% | ||
| Q1 24 | 6.8% | 7.2% |
每股收益（稀释后）OTEXTNET
| Q4 25 | $0.66 | $0.02 | ||
| Q3 25 | $0.58 | $0.70 | ||
| Q2 25 | $0.11 | $0.77 | ||
| Q1 25 | $0.35 | $1.71 | ||
| Q4 24 | $0.87 | $-0.44 | ||
| Q3 24 | $0.32 | $0.89 | ||
| Q2 24 | $0.91 | $1.20 | ||
| Q1 24 | $0.36 | $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 | $1.3B | $287.0M |
| 总债务越低越好 | $6.4B | — |
| 股东权益账面价值 | $4.0B | $54.0M |
| 总资产 | $13.6B | $3.8B |
| 负债/权益比越低杠杆越低 | 1.58× | — |
8季度趋势，按日历期对齐
现金及短期投资OTEXTNET
| Q4 25 | $1.3B | $287.0M | ||
| Q3 25 | $1.1B | $321.0M | ||
| Q2 25 | $1.2B | $407.0M | ||
| Q1 25 | $1.3B | $349.0M | ||
| Q4 24 | $1.1B | $360.0M | ||
| Q3 24 | $1.0B | $301.0M | ||
| Q2 24 | $1.3B | $249.0M | ||
| Q1 24 | $1.1B | $383.0M |
总债务OTEXTNET
| Q4 25 | $6.4B | — | ||
| Q3 25 | $6.4B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.4B | — | ||
| Q4 24 | $6.4B | — | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.4B | — | ||
| Q1 24 | $8.4B | — |
股东权益OTEXTNET
| Q4 25 | $4.0B | $54.0M | ||
| Q3 25 | $4.0B | $110.0M | ||
| Q2 25 | $3.9B | $107.0M | ||
| Q1 25 | $4.1B | $63.0M | ||
| Q4 24 | $4.2B | $69.0M | ||
| Q3 24 | $4.1B | $129.0M | ||
| Q2 24 | $4.2B | $100.0M | ||
| Q1 24 | $4.1B | $143.0M |
总资产OTEXTNET
| Q4 25 | $13.6B | $3.8B | ||
| Q3 25 | $13.5B | $3.4B | ||
| Q2 25 | $13.8B | $3.7B | ||
| Q1 25 | $13.8B | $3.8B | ||
| Q4 24 | $13.7B | $4.1B | ||
| Q3 24 | $13.8B | $3.7B | ||
| Q2 24 | $14.2B | $3.7B | ||
| Q1 24 | $16.4B | $4.0B |
负债/权益比OTEXTNET
| Q4 25 | 1.58× | — | ||
| Q3 25 | 1.61× | — | ||
| Q2 25 | 1.62× | — | ||
| Q1 25 | 1.55× | — | ||
| Q4 24 | 1.51× | — | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 1.52× | — | ||
| Q1 24 | 2.02× | — |
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 | $318.7M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $279.4M | $43.0M |
| 自由现金流率自由现金流/营收 | 21.1% | 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 | 1.90× | — |
| 过去12个月自由现金流最近4个季度 | $878.5M | $234.0M |
8季度趋势，按日历期对齐
经营现金流OTEXTNET
| Q4 25 | $318.7M | $61.0M | ||
| Q3 25 | $147.8M | $72.0M | ||
| Q2 25 | $158.2M | $75.0M | ||
| Q1 25 | $402.2M | $95.0M | ||
| Q4 24 | $348.0M | $65.0M | ||
| Q3 24 | $-77.8M | $84.0M | ||
| Q2 24 | $185.2M | $39.0M | ||
| Q1 24 | $384.7M | $91.0M |
自由现金流OTEXTNET
| Q4 25 | $279.4M | $43.0M | ||
| Q3 25 | $101.2M | $55.0M | ||
| Q2 25 | $124.0M | $57.0M | ||
| Q1 25 | $373.8M | $79.0M | ||
| Q4 24 | $306.7M | $47.0M | ||
| Q3 24 | $-117.1M | $59.0M | ||
| Q2 24 | $145.2M | $22.0M | ||
| Q1 24 | $348.2M | $73.0M |
自由现金流率OTEXTNET
| Q4 25 | 21.1% | 3.4% | ||
| Q3 25 | 7.9% | 4.5% | ||
| Q2 25 | 9.5% | 4.6% | ||
| Q1 25 | 29.8% | 6.1% | ||
| Q4 24 | 23.0% | 3.7% | ||
| Q3 24 | -9.2% | 4.8% | ||
| Q2 24 | 10.7% | 1.8% | ||
| Q1 24 | 24.1% | 5.8% |
资本支出强度OTEXTNET
| Q4 25 | 3.0% | 1.4% | ||
| Q3 25 | 3.6% | 1.4% | ||
| Q2 25 | 2.6% | 1.5% | ||
| Q1 25 | 2.3% | 1.2% | ||
| Q4 24 | 3.1% | 1.4% | ||
| Q3 24 | 3.1% | 2.0% | ||
| Q2 24 | 2.9% | 1.4% | ||
| Q1 24 | 2.5% | 1.4% |
现金转化率OTEXTNET
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.01× | 2.12× | ||
| Q2 25 | 5.49× | 2.03× | ||
| Q1 25 | 4.33× | 1.12× | ||
| Q4 24 | 1.51× | — | ||
| Q3 24 | -0.92× | 1.87× | ||
| Q2 24 | 0.75× | 0.65× | ||
| Q1 24 | 3.91× | 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
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
