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美乐棵（SMG）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
美乐棵的季度营收约是TRINET GROUP, INC.的1.2倍（$1.5B vs $1.2B），TRINET GROUP, INC.同比增速更快（-2.2% vs -16.9%），过去两年美乐棵的营收复合增速更高（10.2% vs -0.6%）
美乐棵公司是一家总部位于俄亥俄州马里斯维尔的美国跨国企业，其前身可追溯至1868年O.M.斯科特开始销售草种的业务。公司主营草坪养护、园艺种植、虫害防治类消费产品以及无土室内园艺设备，旗下拥有Scotts、Miracle-Gro、Ortho等知名品牌，同时在美国及中国等多个国际市场销售和分销除草剂Roundup。
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。
SMG vs TNET — 直观对比
营收规模更大
SMG
是对方的1.2倍
$1.2B
营收增速更快
TNET
高出14.7%
-16.9%
两年增速更快
SMG
近两年复合增速
-0.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.2B |
| 净利润 | $238.6M | — |
| 毛利率 | 41.8% | — |
| 营业利润率 | 27.5% | 0.1% |
| 净利率 | 16.3% | — |
| 营收同比 | -16.9% | -2.2% |
| 净利润同比 | 61.2% | — |
| 每股收益（稀释后） | $-2.00 | $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SMGTNET
| Q1 26 | $1.5B | — | ||
| Q4 25 | $354.4M | $1.2B | ||
| Q3 25 | $387.3M | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $416.8M | $1.3B | ||
| Q3 24 | $414.7M | $1.2B | ||
| Q2 24 | $1.2B | $1.2B |
净利润SMGTNET
| Q1 26 | $238.6M | — | ||
| Q4 25 | $-125.0M | — | ||
| Q3 25 | — | $34.0M | ||
| Q2 25 | $149.1M | $37.0M | ||
| Q1 25 | $217.5M | $85.0M | ||
| Q4 24 | $-69.5M | — | ||
| Q3 24 | — | $45.0M | ||
| Q2 24 | $132.1M | $60.0M |
毛利率SMGTNET
| Q1 26 | 41.8% | — | ||
| Q4 25 | 25.0% | — | ||
| Q3 25 | 6.1% | — | ||
| Q2 25 | 31.8% | — | ||
| Q1 25 | 38.6% | — | ||
| Q4 24 | 22.7% | — | ||
| Q3 24 | -7.1% | — | ||
| Q2 24 | 29.5% | — |
营业利润率SMGTNET
| Q1 26 | 27.5% | — | ||
| Q4 25 | -6.2% | 0.1% | ||
| Q3 25 | -38.8% | 4.1% | ||
| Q2 25 | 18.1% | 4.1% | ||
| Q1 25 | 24.3% | 8.9% | ||
| Q4 24 | -12.2% | -2.9% | ||
| Q3 24 | -52.1% | 4.7% | ||
| Q2 24 | 16.6% | 6.5% |
净利率SMGTNET
| Q1 26 | 16.3% | — | ||
| Q4 25 | -35.3% | — | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | 12.6% | 3.0% | ||
| Q1 25 | 15.3% | 6.6% | ||
| Q4 24 | -16.7% | — | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | 11.0% | 4.9% |
每股收益（稀释后）SMGTNET
| Q1 26 | $-2.00 | — | ||
| Q4 25 | $-2.16 | $0.02 | ||
| Q3 25 | $-2.58 | $0.70 | ||
| Q2 25 | $2.54 | $0.77 | ||
| Q1 25 | $3.72 | $1.71 | ||
| Q4 24 | $-1.21 | $-0.44 | ||
| Q3 24 | $-4.21 | $0.89 | ||
| Q2 24 | $2.28 | $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 | $6.2M | $287.0M |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | — | $54.0M |
| 总资产 | $3.4B | $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SMGTNET
| Q1 26 | $6.2M | — | ||
| Q4 25 | $8.3M | $287.0M | ||
| Q3 25 | $36.6M | $321.0M | ||
| Q2 25 | $51.1M | $407.0M | ||
| Q1 25 | $16.9M | $349.0M | ||
| Q4 24 | $9.8M | $360.0M | ||
| Q3 24 | $71.6M | $301.0M | ||
| Q2 24 | $279.9M | $249.0M |
总债务SMGTNET
| Q1 26 | $2.3B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $2.2B | — | ||
| Q2 24 | — | — |
股东权益SMGTNET
| Q1 26 | — | — | ||
| Q4 25 | $-500.6M | $54.0M | ||
| Q3 25 | $-357.5M | $110.0M | ||
| Q2 25 | $-170.9M | $107.0M | ||
| Q1 25 | $-290.1M | $63.0M | ||
| Q4 24 | $-479.5M | $69.0M | ||
| Q3 24 | $-390.6M | $129.0M | ||
| Q2 24 | $-146.2M | $100.0M |
总资产SMGTNET
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.0B | $3.8B | ||
| Q3 25 | $2.7B | $3.4B | ||
| Q2 25 | $3.1B | $3.7B | ||
| Q1 25 | $3.5B | $3.8B | ||
| Q4 24 | $3.2B | $4.1B | ||
| Q3 24 | $2.9B | $3.7B | ||
| Q2 24 | $3.5B | $3.7B |
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 | — | $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 | — | — |
| 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SMGTNET
| Q1 26 | — | — | ||
| Q4 25 | $-370.4M | $61.0M | ||
| Q3 25 | $174.1M | $72.0M | ||
| Q2 25 | $454.4M | $75.0M | ||
| Q1 25 | $188.1M | $95.0M | ||
| Q4 24 | $-445.3M | $65.0M | ||
| Q3 24 | $118.5M | $84.0M | ||
| Q2 24 | $588.0M | $39.0M |
自由现金流SMGTNET
| Q1 26 | — | — | ||
| Q4 25 | $-390.4M | $43.0M | ||
| Q3 25 | $131.2M | $55.0M | ||
| Q2 25 | $437.5M | $57.0M | ||
| Q1 25 | $179.8M | $79.0M | ||
| Q4 24 | $-474.6M | $47.0M | ||
| Q3 24 | $101.9M | $59.0M | ||
| Q2 24 | $574.8M | $22.0M |
自由现金流率SMGTNET
| Q1 26 | — | — | ||
| Q4 25 | -110.2% | 3.4% | ||
| Q3 25 | 33.9% | 4.5% | ||
| Q2 25 | 36.8% | 4.6% | ||
| Q1 25 | 12.7% | 6.1% | ||
| Q4 24 | -113.9% | 3.7% | ||
| Q3 24 | 24.6% | 4.8% | ||
| Q2 24 | 47.8% | 1.8% |
资本支出强度SMGTNET
| Q1 26 | — | — | ||
| Q4 25 | 5.6% | 1.4% | ||
| Q3 25 | 11.1% | 1.4% | ||
| Q2 25 | 1.4% | 1.5% | ||
| Q1 25 | 0.6% | 1.2% | ||
| Q4 24 | 7.0% | 1.4% | ||
| Q3 24 | 4.0% | 2.0% | ||
| Q2 24 | 1.1% | 1.4% |
现金转化率SMGTNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | 3.05× | 2.03× | ||
| Q1 25 | 0.86× | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | 4.45× | 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
SMG
暂无分部数据
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
