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PPL Corporation（PPL）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
PPL Corporation的季度营收约是TRINET GROUP, INC.的1.9倍（$2.3B vs $1.2B），PPL Corporation同比增速更快（7.2% vs -2.2%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $-614.0M），过去两年PPL Corporation的营收复合增速更高（1.0% vs -0.6%）
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
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。
PPL vs TNET — 直观对比
营收规模更大
PPL
是对方的1.9倍
$1.2B
营收增速更快
PPL
高出9.4%
-2.2%
自由现金流更多
TNET
多$657.0M
$-614.0M
两年增速更快
PPL
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $1.2B |
| 净利润 | $266.0M | — |
| 毛利率 | — | — |
| 营业利润率 | 20.3% | 0.1% |
| 净利率 | 11.3% | — |
| 营收同比 | 7.2% | -2.2% |
| 净利润同比 | 50.3% | — |
| 每股收益（稀释后） | $0.35 | $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PPLTNET
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.0B | $1.2B | ||
| Q1 25 | $2.5B | $1.3B | ||
| Q4 24 | $2.2B | $1.3B | ||
| Q3 24 | $2.1B | $1.2B | ||
| Q2 24 | $1.9B | $1.2B | ||
| Q1 24 | $2.3B | $1.3B |
净利润PPLTNET
| Q4 25 | $266.0M | — | ||
| Q3 25 | $318.0M | $34.0M | ||
| Q2 25 | $183.0M | $37.0M | ||
| Q1 25 | $414.0M | $85.0M | ||
| Q4 24 | $177.0M | — | ||
| Q3 24 | $214.0M | $45.0M | ||
| Q2 24 | $190.0M | $60.0M | ||
| Q1 24 | $307.0M | $91.0M |
营业利润率PPLTNET
| Q4 25 | 20.3% | 0.1% | ||
| Q3 25 | 25.4% | 4.1% | ||
| Q2 25 | 19.9% | 4.1% | ||
| Q1 25 | 26.6% | 8.9% | ||
| Q4 24 | 17.2% | -2.9% | ||
| Q3 24 | 20.6% | 4.7% | ||
| Q2 24 | 20.8% | 6.5% | ||
| Q1 24 | 23.7% | 9.7% |
净利率PPLTNET
| Q4 25 | 11.3% | — | ||
| Q3 25 | 14.2% | 2.8% | ||
| Q2 25 | 9.0% | 3.0% | ||
| Q1 25 | 16.3% | 6.6% | ||
| Q4 24 | 8.1% | — | ||
| Q3 24 | 10.3% | 3.6% | ||
| Q2 24 | 10.1% | 4.9% | ||
| Q1 24 | 13.3% | 7.2% |
每股收益（稀释后）PPLTNET
| Q4 25 | $0.35 | $0.02 | ||
| Q3 25 | $0.43 | $0.70 | ||
| Q2 25 | $0.25 | $0.77 | ||
| Q1 25 | $0.56 | $1.71 | ||
| Q4 24 | $0.23 | $-0.44 | ||
| Q3 24 | $0.29 | $0.89 | ||
| Q2 24 | $0.26 | $1.20 | ||
| Q1 24 | $0.42 | $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 | $1.1B | $287.0M |
| 总债务越低越好 | $18.9B | — |
| 股东权益账面价值 | $14.9B | $54.0M |
| 总资产 | $45.2B | $3.8B |
| 负债/权益比越低杠杆越低 | 1.27× | — |
8季度趋势，按日历期对齐
现金及短期投资PPLTNET
| Q4 25 | $1.1B | $287.0M | ||
| Q3 25 | $1.1B | $321.0M | ||
| Q2 25 | $294.0M | $407.0M | ||
| Q1 25 | $312.0M | $349.0M | ||
| Q4 24 | $306.0M | $360.0M | ||
| Q3 24 | $542.0M | $301.0M | ||
| Q2 24 | $282.0M | $249.0M | ||
| Q1 24 | $276.0M | $383.0M |
总债务PPLTNET
| Q4 25 | $18.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $16.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PPLTNET
| Q4 25 | $14.9B | $54.0M | ||
| Q3 25 | $14.4B | $110.0M | ||
| Q2 25 | $14.3B | $107.0M | ||
| Q1 25 | $14.3B | $63.0M | ||
| Q4 24 | $14.1B | $69.0M | ||
| Q3 24 | $14.1B | $129.0M | ||
| Q2 24 | $14.1B | $100.0M | ||
| Q1 24 | $14.1B | $143.0M |
总资产PPLTNET
| Q4 25 | $45.2B | $3.8B | ||
| Q3 25 | $43.9B | $3.4B | ||
| Q2 25 | $42.4B | $3.7B | ||
| Q1 25 | $41.8B | $3.8B | ||
| Q4 24 | $41.1B | $4.1B | ||
| Q3 24 | $40.5B | $3.7B | ||
| Q2 24 | $39.8B | $3.7B | ||
| Q1 24 | $39.6B | $4.0B |
负债/权益比PPLTNET
| Q4 25 | 1.27× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.17× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $548.0M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $-614.0M | $43.0M |
| 自由现金流率自由现金流/营收 | -26.1% | 3.4% |
| 资本支出强度资本支出/营收 | 49.5% | 1.4% |
| 现金转化率经营现金流/净利润 | 2.06× | — |
| 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PPLTNET
| Q4 25 | $548.0M | $61.0M | ||
| Q3 25 | $966.0M | $72.0M | ||
| Q2 25 | $602.0M | $75.0M | ||
| Q1 25 | $513.0M | $95.0M | ||
| Q4 24 | $511.0M | $65.0M | ||
| Q3 24 | $781.0M | $84.0M | ||
| Q2 24 | $766.0M | $39.0M | ||
| Q1 24 | $282.0M | $91.0M |
自由现金流PPLTNET
| Q4 25 | $-614.0M | $43.0M | ||
| Q3 25 | $-179.0M | $55.0M | ||
| Q2 25 | $-328.0M | $57.0M | ||
| Q1 25 | $-280.0M | $79.0M | ||
| Q4 24 | $-349.0M | $47.0M | ||
| Q3 24 | $102.0M | $59.0M | ||
| Q2 24 | $96.0M | $22.0M | ||
| Q1 24 | $-314.0M | $73.0M |
自由现金流率PPLTNET
| Q4 25 | -26.1% | 3.4% | ||
| Q3 25 | -8.0% | 4.5% | ||
| Q2 25 | -16.1% | 4.6% | ||
| Q1 25 | -11.0% | 6.1% | ||
| Q4 24 | -15.9% | 3.7% | ||
| Q3 24 | 4.9% | 4.8% | ||
| Q2 24 | 5.1% | 1.8% | ||
| Q1 24 | -13.6% | 5.8% |
资本支出强度PPLTNET
| Q4 25 | 49.5% | 1.4% | ||
| Q3 25 | 51.2% | 1.4% | ||
| Q2 25 | 45.6% | 1.5% | ||
| Q1 25 | 31.2% | 1.2% | ||
| Q4 24 | 39.3% | 1.4% | ||
| Q3 24 | 32.7% | 2.0% | ||
| Q2 24 | 35.8% | 1.4% | ||
| Q1 24 | 25.9% | 1.4% |
现金转化率PPLTNET
| Q4 25 | 2.06× | — | ||
| Q3 25 | 3.04× | 2.12× | ||
| Q2 25 | 3.29× | 2.03× | ||
| Q1 25 | 1.24× | 1.12× | ||
| Q4 24 | 2.89× | — | ||
| Q3 24 | 3.65× | 1.87× | ||
| Q2 24 | 4.03× | 0.65× | ||
| Q1 24 | 0.92× | 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
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
