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百利高（PRGO）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
TRINET GROUP, INC.的季度营收约是百利高的1.1倍（$1.2B vs $1.1B），TRINET GROUP, INC.同比增速更快（-2.2% vs -2.5%），百利高自由现金流更多（$148.6M vs $43.0M），过去两年百利高的营收复合增速更高（1.3% vs -0.6%）
百利高（Perrigo）是一家注册于爱尔兰的非处方仿制药生产商，主打自有品牌OTC药品业务。公司70%的净销售额来自美国医疗市场，为优化税务布局将法定总部设在爱尔兰，该地区销售额仅占总营收的0.6%，2013年曾完成美国历史上第六大企业税收倒置交易。
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。
PRGO vs TNET — 直观对比
营收规模更大
TNET
是对方的1.1倍
$1.1B
营收增速更快
TNET
高出0.3%
-2.5%
自由现金流更多
PRGO
多$105.6M
$43.0M
两年增速更快
PRGO
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $-1.4B | — |
| 毛利率 | 32.6% | — |
| 营业利润率 | -116.0% | 0.1% |
| 净利率 | -127.8% | — |
| 营收同比 | -2.5% | -2.2% |
| 净利润同比 | -3093.9% | — |
| 每股收益（稀释后） | $-10.23 | $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PRGOTNET
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.0B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.1B | $1.3B |
净利润PRGOTNET
| Q4 25 | $-1.4B | — | ||
| Q3 25 | $7.5M | $34.0M | ||
| Q2 25 | $-8.4M | $37.0M | ||
| Q1 25 | $-6.4M | $85.0M | ||
| Q4 24 | $-44.4M | — | ||
| Q3 24 | $-21.0M | $45.0M | ||
| Q2 24 | $-108.4M | $60.0M | ||
| Q1 24 | $2.0M | $91.0M |
毛利率PRGOTNET
| Q4 25 | 32.6% | — | ||
| Q3 25 | 36.1% | — | ||
| Q2 25 | 34.4% | — | ||
| Q1 25 | 37.6% | — | ||
| Q4 24 | 33.9% | — | ||
| Q3 24 | 37.2% | — | ||
| Q2 24 | 37.0% | — | ||
| Q1 24 | 33.1% | — |
营业利润率PRGOTNET
| Q4 25 | -116.0% | 0.1% | ||
| Q3 25 | 7.0% | 4.1% | ||
| Q2 25 | 4.3% | 4.1% | ||
| Q1 25 | 4.5% | 8.9% | ||
| Q4 24 | 10.0% | -2.9% | ||
| Q3 24 | 7.4% | 4.7% | ||
| Q2 24 | -2.5% | 6.5% | ||
| Q1 24 | -5.1% | 9.7% |
净利率PRGOTNET
| Q4 25 | -127.8% | — | ||
| Q3 25 | 0.7% | 2.8% | ||
| Q2 25 | -0.8% | 3.0% | ||
| Q1 25 | -0.6% | 6.6% | ||
| Q4 24 | -3.9% | — | ||
| Q3 24 | -1.9% | 3.6% | ||
| Q2 24 | -10.2% | 4.9% | ||
| Q1 24 | 0.2% | 7.2% |
每股收益（稀释后）PRGOTNET
| Q4 25 | $-10.23 | $0.02 | ||
| Q3 25 | $0.05 | $0.70 | ||
| Q2 25 | $-0.06 | $0.77 | ||
| Q1 25 | $-0.05 | $1.71 | ||
| Q4 24 | $-0.32 | $-0.44 | ||
| Q3 24 | $-0.15 | $0.89 | ||
| Q2 24 | $-0.79 | $1.20 | ||
| Q1 24 | $0.01 | $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 | — | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.9B | $54.0M |
| 总资产 | $8.5B | $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PRGOTNET
| Q4 25 | — | $287.0M | ||
| Q3 25 | $432.1M | $321.0M | ||
| Q2 25 | $454.2M | $407.0M | ||
| Q1 25 | $409.9M | $349.0M | ||
| Q4 24 | $558.8M | $360.0M | ||
| Q3 24 | $1.5B | $301.0M | ||
| Q2 24 | $542.8M | $249.0M | ||
| Q1 24 | $658.5M | $383.0M |
股东权益PRGOTNET
| Q4 25 | $2.9B | $54.0M | ||
| Q3 25 | $4.4B | $110.0M | ||
| Q2 25 | $4.5B | $107.0M | ||
| Q1 25 | $4.4B | $63.0M | ||
| Q4 24 | $4.3B | $69.0M | ||
| Q3 24 | $4.6B | $129.0M | ||
| Q2 24 | $4.5B | $100.0M | ||
| Q1 24 | $4.7B | $143.0M |
总资产PRGOTNET
| Q4 25 | $8.5B | $3.8B | ||
| Q3 25 | $10.1B | $3.4B | ||
| Q2 25 | $10.1B | $3.7B | ||
| Q1 25 | $9.8B | $3.8B | ||
| Q4 24 | $9.6B | $4.1B | ||
| Q3 24 | $11.2B | $3.7B | ||
| Q2 24 | $10.4B | $3.7B | ||
| Q1 24 | $10.6B | $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 | $175.4M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $148.6M | $43.0M |
| 自由现金流率自由现金流/营收 | 13.4% | 3.4% |
| 资本支出强度资本支出/营收 | 2.4% | 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 | $145.1M | $234.0M |
8季度趋势，按日历期对齐
经营现金流PRGOTNET
| Q4 25 | $175.4M | $61.0M | ||
| Q3 25 | $51.7M | $72.0M | ||
| Q2 25 | $75.9M | $75.0M | ||
| Q1 25 | $-64.5M | $95.0M | ||
| Q4 24 | $312.6M | $65.0M | ||
| Q3 24 | $42.2M | $84.0M | ||
| Q2 24 | $9.5M | $39.0M | ||
| Q1 24 | $-1.4M | $91.0M |
自由现金流PRGOTNET
| Q4 25 | $148.6M | $43.0M | ||
| Q3 25 | $29.8M | $55.0M | ||
| Q2 25 | $56.7M | $57.0M | ||
| Q1 25 | $-90.0M | $79.0M | ||
| Q4 24 | $274.9M | $47.0M | ||
| Q3 24 | $15.1M | $59.0M | ||
| Q2 24 | $-18.9M | $22.0M | ||
| Q1 24 | $-26.5M | $73.0M |
自由现金流率PRGOTNET
| Q4 25 | 13.4% | 3.4% | ||
| Q3 25 | 2.9% | 4.5% | ||
| Q2 25 | 5.4% | 4.6% | ||
| Q1 25 | -8.6% | 6.1% | ||
| Q4 24 | 24.2% | 3.7% | ||
| Q3 24 | 1.4% | 4.8% | ||
| Q2 24 | -1.8% | 1.8% | ||
| Q1 24 | -2.4% | 5.8% |
资本支出强度PRGOTNET
| Q4 25 | 2.4% | 1.4% | ||
| Q3 25 | 2.1% | 1.4% | ||
| Q2 25 | 1.8% | 1.5% | ||
| Q1 25 | 2.4% | 1.2% | ||
| Q4 24 | 3.3% | 1.4% | ||
| Q3 24 | 2.5% | 2.0% | ||
| Q2 24 | 2.7% | 1.4% | ||
| Q1 24 | 2.3% | 1.4% |
现金转化率PRGOTNET
| Q4 25 | — | — | ||
| Q3 25 | 6.89× | 2.12× | ||
| Q2 25 | — | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | -0.70× | 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
PRGO
| Consumer Self Care Americas | $697.0M | 63% |
| Digestive Health | $123.9M | 11% |
| Nutrition | $108.3M | 10% |
| Healthy Lifestyle | $94.8M | 9% |
| Pain And Sleep Aids | $87.1M | 8% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
