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RUSH ENTERPRISES INC \TX\（RUSHA）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
RUSH ENTERPRISES INC \TX\的季度营收约是TRINET GROUP, INC.的1.3倍（$1.7B vs $1.2B），TRINET GROUP, INC.同比增速更快（-2.2% vs -9.0%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $43.0M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -6.8%）
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
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。
RUSHA vs TNET — 直观对比
营收规模更大
RUSHA
是对方的1.3倍
$1.2B
营收增速更快
TNET
高出6.8%
-9.0%
自由现金流更多
RUSHA
多$368.6M
$43.0M
两年增速更快
TNET
近两年复合增速
-6.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.2B |
| 净利润 | $61.7M | — |
| 毛利率 | 20.4% | — |
| 营业利润率 | 4.9% | 0.1% |
| 净利率 | 3.7% | — |
| 营收同比 | -9.0% | -2.2% |
| 净利润同比 | 1.8% | — |
| 每股收益（稀释后） | $0.77 | $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RUSHATNET
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.8B | $1.2B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $1.9B | $1.3B | ||
| Q3 24 | $1.8B | $1.2B | ||
| Q2 24 | $1.9B | $1.2B |
净利润RUSHATNET
| Q1 26 | $61.7M | — | ||
| Q4 25 | $64.3M | — | ||
| Q3 25 | $66.7M | $34.0M | ||
| Q2 25 | $72.4M | $37.0M | ||
| Q1 25 | $60.3M | $85.0M | ||
| Q4 24 | $74.8M | — | ||
| Q3 24 | $79.1M | $45.0M | ||
| Q2 24 | $78.7M | $60.0M |
毛利率RUSHATNET
| Q1 26 | 20.4% | — | ||
| Q4 25 | 20.8% | — | ||
| Q3 25 | 21.0% | — | ||
| Q2 25 | 20.7% | — | ||
| Q1 25 | 20.3% | — | ||
| Q4 24 | 19.3% | — | ||
| Q3 24 | 21.0% | — | ||
| Q2 24 | 20.2% | — |
营业利润率RUSHATNET
| Q1 26 | 4.9% | — | ||
| Q4 25 | 5.5% | 0.1% | ||
| Q3 25 | 5.6% | 4.1% | ||
| Q2 25 | 6.0% | 4.1% | ||
| Q1 25 | 5.2% | 8.9% | ||
| Q4 24 | 5.8% | -2.9% | ||
| Q3 24 | 6.7% | 4.7% | ||
| Q2 24 | 6.4% | 6.5% |
净利率RUSHATNET
| Q1 26 | 3.7% | — | ||
| Q4 25 | 3.8% | — | ||
| Q3 25 | 3.7% | 2.8% | ||
| Q2 25 | 3.9% | 3.0% | ||
| Q1 25 | 3.4% | 6.6% | ||
| Q4 24 | 3.9% | — | ||
| Q3 24 | 4.4% | 3.6% | ||
| Q2 24 | 4.1% | 4.9% |
每股收益（稀释后）RUSHATNET
| Q1 26 | $0.77 | — | ||
| Q4 25 | $0.81 | $0.02 | ||
| Q3 25 | $0.83 | $0.70 | ||
| Q2 25 | $0.90 | $0.77 | ||
| Q1 25 | $0.73 | $1.71 | ||
| Q4 24 | $-95.13 | $-0.44 | ||
| Q3 24 | $0.97 | $0.89 | ||
| Q2 24 | $97.00 | $1.20 |
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 | $277.8M | — |
| 股东权益账面价值 | $2.3B | $54.0M |
| 总资产 | $4.5B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.12× | — |
8季度趋势，按日历期对齐
现金及短期投资RUSHATNET
| Q1 26 | — | — | ||
| Q4 25 | $212.6M | $287.0M | ||
| Q3 25 | $242.0M | $321.0M | ||
| Q2 25 | $211.1M | $407.0M | ||
| Q1 25 | $228.7M | $349.0M | ||
| Q4 24 | $228.1M | $360.0M | ||
| Q3 24 | $185.1M | $301.0M | ||
| Q2 24 | $167.3M | $249.0M |
总债务RUSHATNET
| Q1 26 | $277.8M | — | ||
| Q4 25 | $274.8M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $408.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益RUSHATNET
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.2B | $54.0M | ||
| Q3 25 | $2.2B | $110.0M | ||
| Q2 25 | $2.2B | $107.0M | ||
| Q1 25 | $2.2B | $63.0M | ||
| Q4 24 | $2.1B | $69.0M | ||
| Q3 24 | $2.1B | $129.0M | ||
| Q2 24 | $2.0B | $100.0M |
总资产RUSHATNET
| Q1 26 | $4.5B | — | ||
| Q4 25 | $4.4B | $3.8B | ||
| Q3 25 | $4.6B | $3.4B | ||
| Q2 25 | $4.7B | $3.7B | ||
| Q1 25 | $4.7B | $3.8B | ||
| Q4 24 | $4.6B | $4.1B | ||
| Q3 24 | $4.6B | $3.7B | ||
| Q2 24 | $4.5B | $3.7B |
负债/权益比RUSHATNET
| Q1 26 | 0.12× | — | ||
| Q4 25 | 0.12× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.19× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $411.6M | $43.0M |
| 自由现金流率自由现金流/营收 | 24.4% | 3.4% |
| 资本支出强度资本支出/营收 | 2.0% | 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 | $828.4M | $234.0M |
8季度趋势，按日历期对齐
经营现金流RUSHATNET
| Q1 26 | — | — | ||
| Q4 25 | $112.9M | $61.0M | ||
| Q3 25 | $367.8M | $72.0M | ||
| Q2 25 | $227.6M | $75.0M | ||
| Q1 25 | $153.5M | $95.0M | ||
| Q4 24 | $392.3M | $65.0M | ||
| Q3 24 | $111.7M | $84.0M | ||
| Q2 24 | $270.6M | $39.0M |
自由现金流RUSHATNET
| Q1 26 | $411.6M | — | ||
| Q4 25 | $31.9M | $43.0M | ||
| Q3 25 | $271.2M | $55.0M | ||
| Q2 25 | $113.8M | $57.0M | ||
| Q1 25 | $45.1M | $79.0M | ||
| Q4 24 | $263.5M | $47.0M | ||
| Q3 24 | $-20.0M | $59.0M | ||
| Q2 24 | $177.2M | $22.0M |
自由现金流率RUSHATNET
| Q1 26 | 24.4% | — | ||
| Q4 25 | 1.9% | 3.4% | ||
| Q3 25 | 15.2% | 4.5% | ||
| Q2 25 | 6.2% | 4.6% | ||
| Q1 25 | 2.6% | 6.1% | ||
| Q4 24 | 13.7% | 3.7% | ||
| Q3 24 | -1.1% | 4.8% | ||
| Q2 24 | 9.1% | 1.8% |
资本支出强度RUSHATNET
| Q1 26 | 2.0% | — | ||
| Q4 25 | 4.8% | 1.4% | ||
| Q3 25 | 5.4% | 1.4% | ||
| Q2 25 | 6.2% | 1.5% | ||
| Q1 25 | 6.2% | 1.2% | ||
| Q4 24 | 6.7% | 1.4% | ||
| Q3 24 | 7.3% | 2.0% | ||
| Q2 24 | 4.8% | 1.4% |
现金转化率RUSHATNET
| Q1 26 | — | — | ||
| Q4 25 | 1.75× | — | ||
| Q3 25 | 5.51× | 2.12× | ||
| Q2 25 | 3.14× | 2.03× | ||
| Q1 25 | 2.55× | 1.12× | ||
| Q4 24 | 5.25× | — | ||
| Q3 24 | 1.41× | 1.87× | ||
| Q2 24 | 3.44× | 0.65× |
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
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
