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Teladoc Health, Inc.（TDOC）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Teladoc Health, Inc.的2.0倍（$1.2B vs $613.8M），TRINET GROUP, INC.同比增速更快（-2.2% vs -2.5%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $-26.3M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -2.3%）
泰莱达克健康是一家跨国远程医疗与虚拟医疗企业，2002年成立，总部位于美国纽约。公司核心业务涵盖远程问诊、医学意见咨询、人工智能与数据分析、远程医疗设备及可授权平台服务，主要通过电话、视频会议软件与移动应用，为用户提供随时可及的远程医疗服务。
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。
TDOC vs TNET — 直观对比
营收规模更大
TNET
是对方的2.0倍
$613.8M
营收增速更快
TNET
高出0.3%
-2.5%
自由现金流更多
TNET
多$69.3M
$-26.3M
两年增速更快
TNET
近两年复合增速
-2.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $613.8M | $1.2B |
| 净利润 | $-63.8M | — |
| 毛利率 | — | — |
| 营业利润率 | -10.1% | 0.1% |
| 净利率 | -10.4% | — |
| 营收同比 | -2.5% | -2.2% |
| 净利润同比 | 31.4% | — |
| 每股收益（稀释后） | $-0.36 | $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TDOCTNET
| Q1 26 | $613.8M | — | ||
| Q4 25 | $642.3M | $1.2B | ||
| Q3 25 | $626.4M | $1.2B | ||
| Q2 25 | $631.9M | $1.2B | ||
| Q1 25 | $629.4M | $1.3B | ||
| Q4 24 | $640.5M | $1.3B | ||
| Q3 24 | $640.5M | $1.2B | ||
| Q2 24 | $642.4M | $1.2B |
净利润TDOCTNET
| Q1 26 | $-63.8M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $-49.5M | $34.0M | ||
| Q2 25 | $-32.7M | $37.0M | ||
| Q1 25 | $-93.0M | $85.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-33.3M | $45.0M | ||
| Q2 24 | $-837.7M | $60.0M |
营业利润率TDOCTNET
| Q1 26 | -10.1% | — | ||
| Q4 25 | -5.6% | 0.1% | ||
| Q3 25 | -8.3% | 4.1% | ||
| Q2 25 | -8.6% | 4.1% | ||
| Q1 25 | -19.2% | 8.9% | ||
| Q4 24 | -7.5% | -2.9% | ||
| Q3 24 | -6.9% | 4.7% | ||
| Q2 24 | -130.9% | 6.5% |
净利率TDOCTNET
| Q1 26 | -10.4% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | -7.9% | 2.8% | ||
| Q2 25 | -5.2% | 3.0% | ||
| Q1 25 | -14.8% | 6.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | -5.2% | 3.6% | ||
| Q2 24 | -130.4% | 4.9% |
每股收益（稀释后）TDOCTNET
| Q1 26 | $-0.36 | — | ||
| Q4 25 | $-0.14 | $0.02 | ||
| Q3 25 | $-0.28 | $0.70 | ||
| Q2 25 | $-0.19 | $0.77 | ||
| Q1 25 | $-0.53 | $1.71 | ||
| Q4 24 | $-0.27 | $-0.44 | ||
| Q3 24 | $-0.19 | $0.89 | ||
| Q2 24 | $-4.92 | $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 | $750.7M | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.3B | $54.0M |
| 总资产 | $2.8B | $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TDOCTNET
| Q1 26 | $750.7M | — | ||
| Q4 25 | $781.1M | $287.0M | ||
| Q3 25 | $726.2M | $321.0M | ||
| Q2 25 | $679.6M | $407.0M | ||
| Q1 25 | $1.2B | $349.0M | ||
| Q4 24 | $1.3B | $360.0M | ||
| Q3 24 | $1.2B | $301.0M | ||
| Q2 24 | $1.2B | $249.0M |
股东权益TDOCTNET
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.4B | $54.0M | ||
| Q3 25 | $1.4B | $110.0M | ||
| Q2 25 | $1.4B | $107.0M | ||
| Q1 25 | $1.4B | $63.0M | ||
| Q4 24 | $1.5B | $69.0M | ||
| Q3 24 | $1.5B | $129.0M | ||
| Q2 24 | $1.5B | $100.0M |
总资产TDOCTNET
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.9B | $3.8B | ||
| Q3 25 | $2.9B | $3.4B | ||
| Q2 25 | $2.9B | $3.7B | ||
| Q1 25 | $3.4B | $3.8B | ||
| Q4 24 | $3.5B | $4.1B | ||
| Q3 24 | $3.5B | $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 | $9.5M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $-26.3M | $43.0M |
| 自由现金流率自由现金流/营收 | -4.3% | 3.4% |
| 资本支出强度资本支出/营收 | 0.3% | 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 | $246.0M | $234.0M |
8季度趋势，按日历期对齐
经营现金流TDOCTNET
| Q1 26 | $9.5M | — | ||
| Q4 25 | $87.7M | $61.0M | ||
| Q3 25 | $99.3M | $72.0M | ||
| Q2 25 | $91.4M | $75.0M | ||
| Q1 25 | $15.9M | $95.0M | ||
| Q4 24 | $85.9M | $65.0M | ||
| Q3 24 | $110.2M | $84.0M | ||
| Q2 24 | $88.7M | $39.0M |
自由现金流TDOCTNET
| Q1 26 | $-26.3M | — | ||
| Q4 25 | $85.1M | $43.0M | ||
| Q3 25 | $97.0M | $55.0M | ||
| Q2 25 | $90.2M | $57.0M | ||
| Q1 25 | $13.2M | $79.0M | ||
| Q4 24 | $79.8M | $47.0M | ||
| Q3 24 | $108.6M | $59.0M | ||
| Q2 24 | $86.8M | $22.0M |
自由现金流率TDOCTNET
| Q1 26 | -4.3% | — | ||
| Q4 25 | 13.3% | 3.4% | ||
| Q3 25 | 15.5% | 4.5% | ||
| Q2 25 | 14.3% | 4.6% | ||
| Q1 25 | 2.1% | 6.1% | ||
| Q4 24 | 12.5% | 3.7% | ||
| Q3 24 | 17.0% | 4.8% | ||
| Q2 24 | 13.5% | 1.8% |
资本支出强度TDOCTNET
| Q1 26 | 0.3% | — | ||
| Q4 25 | 0.4% | 1.4% | ||
| Q3 25 | 0.4% | 1.4% | ||
| Q2 25 | 0.2% | 1.5% | ||
| Q1 25 | 0.4% | 1.2% | ||
| Q4 24 | 1.0% | 1.4% | ||
| Q3 24 | 0.2% | 2.0% | ||
| Q2 24 | 0.3% | 1.4% |
现金转化率TDOCTNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | — | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 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
TDOC
| U.S | $491.5M | 80% |
| International | $122.3M | 20% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
