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Reddit, Inc.（RDDT）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Reddit, Inc.的1.7倍（$1.2B vs $725.6M），Reddit, Inc.同比增速更快（69.7% vs -2.2%），Reddit, Inc.自由现金流更多（$263.6M vs $43.0M），过去两年Reddit, Inc.的营收复合增速更高（72.8% vs -0.6%）
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
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。
RDDT vs TNET — 直观对比
营收规模更大
TNET
是对方的1.7倍
$725.6M
营收增速更快
RDDT
高出71.8%
-2.2%
自由现金流更多
RDDT
多$220.6M
$43.0M
两年增速更快
RDDT
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $725.6M | $1.2B |
| 净利润 | $251.6M | — |
| 毛利率 | 91.9% | — |
| 营业利润率 | 31.9% | 0.1% |
| 净利率 | 34.7% | — |
| 营收同比 | 69.7% | -2.2% |
| 净利润同比 | 254.2% | — |
| 每股收益（稀释后） | $1.24 | $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RDDTTNET
| Q4 25 | $725.6M | $1.2B | ||
| Q3 25 | $584.9M | $1.2B | ||
| Q2 25 | $499.6M | $1.2B | ||
| Q1 25 | $392.4M | $1.3B | ||
| Q4 24 | $427.7M | $1.3B | ||
| Q3 24 | $348.4M | $1.2B | ||
| Q2 24 | $281.2M | $1.2B | ||
| Q1 24 | $243.0M | $1.3B |
净利润RDDTTNET
| Q4 25 | $251.6M | — | ||
| Q3 25 | $162.7M | $34.0M | ||
| Q2 25 | $89.3M | $37.0M | ||
| Q1 25 | $26.2M | $85.0M | ||
| Q4 24 | $71.0M | — | ||
| Q3 24 | $29.9M | $45.0M | ||
| Q2 24 | $-10.1M | $60.0M | ||
| Q1 24 | $-575.1M | $91.0M |
毛利率RDDTTNET
| Q4 25 | 91.9% | — | ||
| Q3 25 | 91.0% | — | ||
| Q2 25 | 90.8% | — | ||
| Q1 25 | 90.5% | — | ||
| Q4 24 | 92.6% | — | ||
| Q3 24 | 90.1% | — | ||
| Q2 24 | 89.5% | — | ||
| Q1 24 | 88.6% | — |
营业利润率RDDTTNET
| Q4 25 | 31.9% | 0.1% | ||
| Q3 25 | 23.7% | 4.1% | ||
| Q2 25 | 13.6% | 4.1% | ||
| Q1 25 | 1.0% | 8.9% | ||
| Q4 24 | 12.4% | -2.9% | ||
| Q3 24 | 2.0% | 4.7% | ||
| Q2 24 | -11.0% | 6.5% | ||
| Q1 24 | -242.5% | 9.7% |
净利率RDDTTNET
| Q4 25 | 34.7% | — | ||
| Q3 25 | 27.8% | 2.8% | ||
| Q2 25 | 17.9% | 3.0% | ||
| Q1 25 | 6.7% | 6.6% | ||
| Q4 24 | 16.6% | — | ||
| Q3 24 | 8.6% | 3.6% | ||
| Q2 24 | -3.6% | 4.9% | ||
| Q1 24 | -236.7% | 7.2% |
每股收益（稀释后）RDDTTNET
| Q4 25 | $1.24 | $0.02 | ||
| Q3 25 | $0.80 | $0.70 | ||
| Q2 25 | $0.45 | $0.77 | ||
| Q1 25 | $0.13 | $1.71 | ||
| Q4 24 | $4.76 | $-0.44 | ||
| Q3 24 | $0.16 | $0.89 | ||
| Q2 24 | $-0.06 | $1.20 | ||
| Q1 24 | $-8.19 | $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 | $953.6M | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.9B | $54.0M |
| 总资产 | $3.2B | $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RDDTTNET
| Q4 25 | $953.6M | $287.0M | ||
| Q3 25 | $911.7M | $321.0M | ||
| Q2 25 | $734.1M | $407.0M | ||
| Q1 25 | $635.7M | $349.0M | ||
| Q4 24 | $562.1M | $360.0M | ||
| Q3 24 | $515.9M | $301.0M | ||
| Q2 24 | $468.0M | $249.0M | ||
| Q1 24 | $968.5M | $383.0M |
股东权益RDDTTNET
| Q4 25 | $2.9B | $54.0M | ||
| Q3 25 | $2.6B | $110.0M | ||
| Q2 25 | $2.4B | $107.0M | ||
| Q1 25 | $2.2B | $63.0M | ||
| Q4 24 | $2.1B | $69.0M | ||
| Q3 24 | $2.0B | $129.0M | ||
| Q2 24 | $1.9B | $100.0M | ||
| Q1 24 | $1.8B | $143.0M |
总资产RDDTTNET
| Q4 25 | $3.2B | $3.8B | ||
| Q3 25 | $2.9B | $3.4B | ||
| Q2 25 | $2.6B | $3.7B | ||
| Q1 25 | $2.4B | $3.8B | ||
| Q4 24 | $2.3B | $4.1B | ||
| Q3 24 | $2.2B | $3.7B | ||
| Q2 24 | $2.1B | $3.7B | ||
| Q1 24 | $2.0B | $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 | $266.8M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $263.6M | $43.0M |
| 自由现金流率自由现金流/营收 | 36.3% | 3.4% |
| 资本支出强度资本支出/营收 | 0.4% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.06× | — |
| 过去12个月自由现金流最近4个季度 | $684.2M | $234.0M |
8季度趋势，按日历期对齐
经营现金流RDDTTNET
| Q4 25 | $266.8M | $61.0M | ||
| Q3 25 | $185.2M | $72.0M | ||
| Q2 25 | $111.3M | $75.0M | ||
| Q1 25 | $127.6M | $95.0M | ||
| Q4 24 | $90.0M | $65.0M | ||
| Q3 24 | $71.6M | $84.0M | ||
| Q2 24 | $28.4M | $39.0M | ||
| Q1 24 | $32.1M | $91.0M |
自由现金流RDDTTNET
| Q4 25 | $263.6M | $43.0M | ||
| Q3 25 | $183.1M | $55.0M | ||
| Q2 25 | $110.8M | $57.0M | ||
| Q1 25 | $126.6M | $79.0M | ||
| Q4 24 | $89.2M | $47.0M | ||
| Q3 24 | $70.3M | $59.0M | ||
| Q2 24 | $27.2M | $22.0M | ||
| Q1 24 | $29.2M | $73.0M |
自由现金流率RDDTTNET
| Q4 25 | 36.3% | 3.4% | ||
| Q3 25 | 31.3% | 4.5% | ||
| Q2 25 | 22.2% | 4.6% | ||
| Q1 25 | 32.3% | 6.1% | ||
| Q4 24 | 20.8% | 3.7% | ||
| Q3 24 | 20.2% | 4.8% | ||
| Q2 24 | 9.7% | 1.8% | ||
| Q1 24 | 12.0% | 5.8% |
资本支出强度RDDTTNET
| Q4 25 | 0.4% | 1.4% | ||
| Q3 25 | 0.4% | 1.4% | ||
| Q2 25 | 0.1% | 1.5% | ||
| Q1 25 | 0.2% | 1.2% | ||
| Q4 24 | 0.2% | 1.4% | ||
| Q3 24 | 0.4% | 2.0% | ||
| Q2 24 | 0.4% | 1.4% | ||
| Q1 24 | 1.2% | 1.4% |
现金转化率RDDTTNET
| Q4 25 | 1.06× | — | ||
| Q3 25 | 1.14× | 2.12× | ||
| Q2 25 | 1.25× | 2.03× | ||
| Q1 25 | 4.88× | 1.12× | ||
| Q4 24 | 1.27× | — | ||
| Q3 24 | 2.40× | 1.87× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | — | 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
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
