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Public Storage（PSA）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Public Storage的1.0倍（$1.2B vs $1.2B），Public Storage同比增速更快（3.3% vs -2.2%），过去两年Public Storage的营收复合增速更高（2.5% vs -0.6%）
Public Storage总部位于美国加利福尼亚州格伦代尔，是主营自助仓储业务的房地产投资信托，也是美国最大的自助仓储服务品牌，持有美国约9%的自助仓储面积。截至2024年12月31日，公司运营3073处自助仓储设施，总可出租净面积达2.21亿平方英尺。
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。
PSA vs TNET — 直观对比
营收规模更大
TNET
是对方的1.0倍
$1.2B
营收增速更快
PSA
高出5.5%
-2.2%
两年增速更快
PSA
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.2B |
| 净利润 | $507.1M | — |
| 毛利率 | — | — |
| 营业利润率 | 40.7% | 0.1% |
| 净利率 | 41.7% | — |
| 营收同比 | 3.3% | -2.2% |
| 净利润同比 | -17.5% | — |
| 每股收益（稀释后） | $2.59 | $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PSATNET
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.2B | $1.2B | ||
| Q1 24 | $1.2B | $1.3B |
净利润PSATNET
| Q4 25 | $507.1M | — | ||
| Q3 25 | $511.1M | $34.0M | ||
| Q2 25 | $358.4M | $37.0M | ||
| Q1 25 | $407.8M | $85.0M | ||
| Q4 24 | $614.6M | — | ||
| Q3 24 | $430.3M | $45.0M | ||
| Q2 24 | $518.1M | $60.0M | ||
| Q1 24 | $508.9M | $91.0M |
营业利润率PSATNET
| Q4 25 | 40.7% | 0.1% | ||
| Q3 25 | 42.3% | 4.1% | ||
| Q2 25 | 30.4% | 4.1% | ||
| Q1 25 | 34.8% | 8.9% | ||
| Q4 24 | 52.4% | -2.9% | ||
| Q3 24 | 36.7% | 4.7% | ||
| Q2 24 | 44.6% | 6.5% | ||
| Q1 24 | 44.3% | 9.7% |
净利率PSATNET
| Q4 25 | 41.7% | — | ||
| Q3 25 | 41.8% | 2.8% | ||
| Q2 25 | 29.8% | 3.0% | ||
| Q1 25 | 34.5% | 6.6% | ||
| Q4 24 | 52.2% | — | ||
| Q3 24 | 36.2% | 3.6% | ||
| Q2 24 | 44.2% | 4.9% | ||
| Q1 24 | 44.0% | 7.2% |
每股收益（稀释后）PSATNET
| Q4 25 | $2.59 | $0.02 | ||
| Q3 25 | $2.62 | $0.70 | ||
| Q2 25 | $1.76 | $0.77 | ||
| Q1 25 | $2.04 | $1.71 | ||
| Q4 24 | $3.22 | $-0.44 | ||
| Q3 24 | $2.16 | $0.89 | ||
| Q2 24 | $2.66 | $1.20 | ||
| Q1 24 | $2.60 | $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 | $318.1M | $287.0M |
| 总债务越低越好 | $10.3B | — |
| 股东权益账面价值 | $9.2B | $54.0M |
| 总资产 | $20.2B | $3.8B |
| 负债/权益比越低杠杆越低 | 1.11× | — |
8季度趋势，按日历期对齐
现金及短期投资PSATNET
| Q4 25 | $318.1M | $287.0M | ||
| Q3 25 | $296.5M | $321.0M | ||
| Q2 25 | $1.1B | $407.0M | ||
| Q1 25 | $287.2M | $349.0M | ||
| Q4 24 | $447.4M | $360.0M | ||
| Q3 24 | $599.0M | $301.0M | ||
| Q2 24 | $542.3M | $249.0M | ||
| Q1 24 | $271.6M | $383.0M |
总债务PSATNET
| Q4 25 | $10.3B | — | ||
| Q3 25 | $10.0B | — | ||
| Q2 25 | $10.4B | — | ||
| Q1 25 | $9.4B | — | ||
| Q4 24 | $9.4B | — | ||
| Q3 24 | $9.5B | — | ||
| Q2 24 | $9.4B | — | ||
| Q1 24 | $9.1B | — |
股东权益PSATNET
| Q4 25 | $9.2B | $54.0M | ||
| Q3 25 | $9.3B | $110.0M | ||
| Q2 25 | $9.4B | $107.0M | ||
| Q1 25 | $9.6B | $63.0M | ||
| Q4 24 | $9.7B | $69.0M | ||
| Q3 24 | $9.6B | $129.0M | ||
| Q2 24 | $9.7B | $100.0M | ||
| Q1 24 | $9.9B | $143.0M |
总资产PSATNET
| Q4 25 | $20.2B | $3.8B | ||
| Q3 25 | $20.1B | $3.4B | ||
| Q2 25 | $20.5B | $3.7B | ||
| Q1 25 | $19.6B | $3.8B | ||
| Q4 24 | $19.8B | $4.1B | ||
| Q3 24 | $19.8B | $3.7B | ||
| Q2 24 | $19.8B | $3.7B | ||
| Q1 24 | $19.6B | $4.0B |
负债/权益比PSATNET
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.08× | — | ||
| Q2 25 | 1.11× | — | ||
| Q1 25 | 0.99× | — | ||
| Q4 24 | 0.96× | — | ||
| Q3 24 | 0.99× | — | ||
| Q2 24 | 0.97× | — | ||
| Q1 24 | 0.91× | — |
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 | $733.6M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | — | $43.0M |
| 自由现金流率自由现金流/营收 | — | 3.4% |
| 资本支出强度资本支出/营收 | — | 1.4% |
| 现金转化率经营现金流/净利润 | 1.45× | — |
| 过去12个月自由现金流最近4个季度 | — | $234.0M |
8季度趋势，按日历期对齐
经营现金流PSATNET
| Q4 25 | $733.6M | $61.0M | ||
| Q3 25 | $875.1M | $72.0M | ||
| Q2 25 | $872.7M | $75.0M | ||
| Q1 25 | $705.1M | $95.0M | ||
| Q4 24 | $768.6M | $65.0M | ||
| Q3 24 | $798.8M | $84.0M | ||
| Q2 24 | $895.3M | $39.0M | ||
| Q1 24 | $665.6M | $91.0M |
自由现金流PSATNET
| Q4 25 | — | $43.0M | ||
| Q3 25 | — | $55.0M | ||
| Q2 25 | — | $57.0M | ||
| Q1 25 | — | $79.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | — | $59.0M | ||
| Q2 24 | — | $22.0M | ||
| Q1 24 | — | $73.0M |
自由现金流率PSATNET
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 1.8% | ||
| Q1 24 | — | 5.8% |
资本支出强度PSATNET
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 1.4% |
现金转化率PSATNET
| Q4 25 | 1.45× | — | ||
| Q3 25 | 1.71× | 2.12× | ||
| Q2 25 | 2.43× | 2.03× | ||
| Q1 25 | 1.73× | 1.12× | ||
| Q4 24 | 1.25× | — | ||
| Q3 24 | 1.86× | 1.87× | ||
| Q2 24 | 1.73× | 0.65× | ||
| Q1 24 | 1.31× | 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
PSA
| Self Storage Operations | $1.1B | 93% |
| Ancillary Operations | $86.9M | 7% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
