vs
Atlassian Corp（TEAM）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
Atlassian Corp的季度营收约是TRINET GROUP, INC.的1.3倍（$1.6B vs $1.2B），Atlassian Corp同比增速更快（23.3% vs -2.2%），Atlassian Corp自由现金流更多（$168.5M vs $43.0M）
Dragoneer投资集团是总部位于美国加利福尼亚州旧金山的专业投资机构，专注于全球科技领域的投资布局，业务覆盖公开股票市场与私募股权市场，在全球科技投资赛道拥有丰富的运作经验和行业资源。
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。
TEAM vs TNET — 直观对比
营收规模更大
TEAM
是对方的1.3倍
$1.2B
营收增速更快
TEAM
高出25.5%
-2.2%
自由现金流更多
TEAM
多$125.5M
$43.0M
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $-42.6M | — |
| 毛利率 | 85.0% | — |
| 营业利润率 | -3.0% | 0.1% |
| 净利率 | -2.7% | — |
| 营收同比 | 23.3% | -2.2% |
| 净利润同比 | -11.6% | — |
| 每股收益（稀释后） | $-0.16 | $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TEAMTNET
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | $1.2B | $1.3B |
净利润TEAMTNET
| Q4 25 | $-42.6M | — | ||
| Q3 25 | $-51.9M | $34.0M | ||
| Q2 25 | $-23.9M | $37.0M | ||
| Q1 25 | $-70.8M | $85.0M | ||
| Q4 24 | $-38.2M | — | ||
| Q3 24 | $-123.8M | $45.0M | ||
| Q2 24 | — | $60.0M | ||
| Q1 24 | $12.8M | $91.0M |
毛利率TEAMTNET
| Q4 25 | 85.0% | — | ||
| Q3 25 | 82.0% | — | ||
| Q2 25 | 83.1% | — | ||
| Q1 25 | 83.8% | — | ||
| Q4 24 | 82.7% | — | ||
| Q3 24 | 81.7% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 82.1% | — |
营业利润率TEAMTNET
| Q4 25 | -3.0% | 0.1% | ||
| Q3 25 | -6.7% | 4.1% | ||
| Q2 25 | -2.1% | 4.1% | ||
| Q1 25 | -0.9% | 8.9% | ||
| Q4 24 | -4.5% | -2.9% | ||
| Q3 24 | -2.7% | 4.7% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | 1.5% | 9.7% |
净利率TEAMTNET
| Q4 25 | -2.7% | — | ||
| Q3 25 | -3.6% | 2.8% | ||
| Q2 25 | -1.7% | 3.0% | ||
| Q1 25 | -5.2% | 6.6% | ||
| Q4 24 | -3.0% | — | ||
| Q3 24 | -10.4% | 3.6% | ||
| Q2 24 | — | 4.9% | ||
| Q1 24 | 1.1% | 7.2% |
每股收益（稀释后）TEAMTNET
| Q4 25 | $-0.16 | $0.02 | ||
| Q3 25 | $-0.20 | $0.70 | ||
| Q2 25 | $-0.08 | $0.77 | ||
| Q1 25 | $-0.27 | $1.71 | ||
| Q4 24 | $-0.15 | $-0.44 | ||
| Q3 24 | $-0.48 | $0.89 | ||
| Q2 24 | — | $1.20 | ||
| Q1 24 | $0.05 | $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 | $1.6B | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.6B | $54.0M |
| 总资产 | $6.2B | $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TEAMTNET
| Q4 25 | $1.6B | $287.0M | ||
| Q3 25 | $2.8B | $321.0M | ||
| Q2 25 | $2.9B | $407.0M | ||
| Q1 25 | $3.0B | $349.0M | ||
| Q4 24 | $2.5B | $360.0M | ||
| Q3 24 | $2.2B | $301.0M | ||
| Q2 24 | — | $249.0M | ||
| Q1 24 | $2.1B | $383.0M |
股东权益TEAMTNET
| Q4 25 | $1.6B | $54.0M | ||
| Q3 25 | $1.4B | $110.0M | ||
| Q2 25 | $1.3B | $107.0M | ||
| Q1 25 | $1.4B | $63.0M | ||
| Q4 24 | $1.2B | $69.0M | ||
| Q3 24 | $1.0B | $129.0M | ||
| Q2 24 | — | $100.0M | ||
| Q1 24 | $1.1B | $143.0M |
总资产TEAMTNET
| Q4 25 | $6.2B | $3.8B | ||
| Q3 25 | $5.7B | $3.4B | ||
| Q2 25 | $6.0B | $3.7B | ||
| Q1 25 | $5.9B | $3.8B | ||
| Q4 24 | $5.4B | $4.1B | ||
| Q3 24 | $5.0B | $3.7B | ||
| Q2 24 | — | $3.7B | ||
| Q1 24 | $5.1B | $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 | $177.8M | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $168.5M | $43.0M |
| 自由现金流率自由现金流/营收 | 10.6% | 3.4% |
| 资本支出强度资本支出/营收 | 0.6% | 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 | $1.3B | $234.0M |
8季度趋势，按日历期对齐
经营现金流TEAMTNET
| Q4 25 | $177.8M | $61.0M | ||
| Q3 25 | $128.7M | $72.0M | ||
| Q2 25 | $375.3M | $75.0M | ||
| Q1 25 | $652.7M | $95.0M | ||
| Q4 24 | $351.9M | $65.0M | ||
| Q3 24 | $80.5M | $84.0M | ||
| Q2 24 | — | $39.0M | ||
| Q1 24 | $565.4M | $91.0M |
自由现金流TEAMTNET
| Q4 25 | $168.5M | $43.0M | ||
| Q3 25 | $114.6M | $55.0M | ||
| Q2 25 | $360.3M | $57.0M | ||
| Q1 25 | $638.3M | $79.0M | ||
| Q4 24 | $342.6M | $47.0M | ||
| Q3 24 | $74.3M | $59.0M | ||
| Q2 24 | — | $22.0M | ||
| Q1 24 | $554.9M | $73.0M |
自由现金流率TEAMTNET
| Q4 25 | 10.6% | 3.4% | ||
| Q3 25 | 8.0% | 4.5% | ||
| Q2 25 | 26.0% | 4.6% | ||
| Q1 25 | 47.0% | 6.1% | ||
| Q4 24 | 26.6% | 3.7% | ||
| Q3 24 | 6.3% | 4.8% | ||
| Q2 24 | — | 1.8% | ||
| Q1 24 | 46.7% | 5.8% |
资本支出强度TEAMTNET
| Q4 25 | 0.6% | 1.4% | ||
| Q3 25 | 1.0% | 1.4% | ||
| Q2 25 | 1.1% | 1.5% | ||
| Q1 25 | 1.1% | 1.2% | ||
| Q4 24 | 0.7% | 1.4% | ||
| Q3 24 | 0.5% | 2.0% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | 0.9% | 1.4% |
现金转化率TEAMTNET
| Q4 25 | — | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | — | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | 44.34× | 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
TEAM
| Cloud Deployment Services | $1.1B | 67% |
| Data Center Deployment | $435.6M | 27% |
| Marketplace And Services Deployment | $83.7M | 5% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
