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TKO Group Holdings（TKO）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TKO Group Holdings的1.2倍（$1.2B vs $1.0B），TKO Group Holdings同比增速更快（61.6% vs -2.2%），过去两年TKO Group Holdings的营收复合增速更高（28.4% vs -0.6%）
TKO Group Holdings是美国体育及体育娱乐上市企业，成立于2023年9月12日，由奋进集团（Endeavor）子公司、终极格斗冠军赛（UFC）母公司Zuffa与职业摔跤品牌世界摔角娱乐（WWE）合并组建，主营综合格斗、职业摔跤赛事运营及相关娱乐内容业务。
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。
TKO vs TNET — 直观对比
营收规模更大
TNET
是对方的1.2倍
$1.0B
营收增速更快
TKO
高出63.8%
-2.2%
两年增速更快
TKO
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.2B |
| 净利润 | $-2.4M | — |
| 毛利率 | — | — |
| 营业利润率 | 5.5% | 0.1% |
| 净利率 | -0.2% | — |
| 营收同比 | 61.6% | -2.2% |
| 净利润同比 | -107.7% | — |
| 每股收益（稀释后） | $-0.07 | $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TKOTNET
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $642.2M | $1.3B | ||
| Q3 24 | $681.3M | $1.2B | ||
| Q2 24 | $851.2M | $1.2B | ||
| Q1 24 | $629.7M | $1.3B |
净利润TKOTNET
| Q4 25 | $-2.4M | — | ||
| Q3 25 | $41.0M | $34.0M | ||
| Q2 25 | $98.4M | $37.0M | ||
| Q1 25 | $58.4M | $85.0M | ||
| Q4 24 | $31.0M | — | ||
| Q3 24 | $23.1M | $45.0M | ||
| Q2 24 | $59.1M | $60.0M | ||
| Q1 24 | $-103.8M | $91.0M |
营业利润率TKOTNET
| Q4 25 | 5.5% | 0.1% | ||
| Q3 25 | 15.4% | 4.1% | ||
| Q2 25 | 28.1% | 4.1% | ||
| Q1 25 | 18.7% | 8.9% | ||
| Q4 24 | 15.9% | -2.9% | ||
| Q3 24 | 20.0% | 4.7% | ||
| Q2 24 | 30.0% | 6.5% | ||
| Q1 24 | -33.4% | 9.7% |
净利率TKOTNET
| Q4 25 | -0.2% | — | ||
| Q3 25 | 3.7% | 2.8% | ||
| Q2 25 | 7.5% | 3.0% | ||
| Q1 25 | 4.6% | 6.6% | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 3.4% | 3.6% | ||
| Q2 24 | 6.9% | 4.9% | ||
| Q1 24 | -16.5% | 7.2% |
每股收益（稀释后）TKOTNET
| Q4 25 | $-0.07 | $0.02 | ||
| Q3 25 | $0.47 | $0.70 | ||
| Q2 25 | $1.17 | $0.77 | ||
| Q1 25 | $0.69 | $1.71 | ||
| Q4 24 | $0.28 | $-0.44 | ||
| Q3 24 | $0.28 | $0.89 | ||
| Q2 24 | $0.72 | $1.20 | ||
| Q1 24 | $-1.26 | $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 | $831.1M | $287.0M |
| 总债务越低越好 | $3.8B | — |
| 股东权益账面价值 | $3.7B | $54.0M |
| 总资产 | $15.5B | $3.8B |
| 负债/权益比越低杠杆越低 | 1.01× | — |
8季度趋势，按日历期对齐
现金及短期投资TKOTNET
| Q4 25 | $831.1M | $287.0M | ||
| Q3 25 | $861.4M | $321.0M | ||
| Q2 25 | $535.1M | $407.0M | ||
| Q1 25 | $470.9M | $349.0M | ||
| Q4 24 | $525.6M | $360.0M | ||
| Q3 24 | $457.4M | $301.0M | ||
| Q2 24 | $277.5M | $249.0M | ||
| Q1 24 | $245.8M | $383.0M |
总债务TKOTNET
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $2.7B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.7B | — |
股东权益TKOTNET
| Q4 25 | $3.7B | $54.0M | ||
| Q3 25 | $3.8B | $110.0M | ||
| Q2 25 | $4.3B | $107.0M | ||
| Q1 25 | $4.2B | $63.0M | ||
| Q4 24 | $4.1B | $69.0M | ||
| Q3 24 | $4.0B | $129.0M | ||
| Q2 24 | $4.0B | $100.0M | ||
| Q1 24 | $4.0B | $143.0M |
总资产TKOTNET
| Q4 25 | $15.5B | $3.8B | ||
| Q3 25 | $15.5B | $3.4B | ||
| Q2 25 | $15.3B | $3.7B | ||
| Q1 25 | $15.0B | $3.8B | ||
| Q4 24 | $12.7B | $4.1B | ||
| Q3 24 | $12.8B | $3.7B | ||
| Q2 24 | $12.7B | $3.7B | ||
| Q1 24 | $12.7B | $4.0B |
负债/权益比TKOTNET
| Q4 25 | 1.01× | — | ||
| Q3 25 | 0.98× | — | ||
| Q2 25 | 0.64× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.68× | — | ||
| Q1 24 | 0.68× | — |
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 | $309.9M | $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TKOTNET
| Q4 25 | $309.9M | $61.0M | ||
| Q3 25 | $416.8M | $72.0M | ||
| Q2 25 | $396.2M | $75.0M | ||
| Q1 25 | $162.8M | $95.0M | ||
| Q4 24 | $56.8M | $65.0M | ||
| Q3 24 | $236.5M | $84.0M | ||
| Q2 24 | $230.7M | $39.0M | ||
| Q1 24 | $59.3M | $91.0M |
自由现金流TKOTNET
| Q4 25 | — | $43.0M | ||
| Q3 25 | — | $55.0M | ||
| Q2 25 | — | $57.0M | ||
| Q1 25 | — | $79.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | — | $59.0M | ||
| Q2 24 | — | $22.0M | ||
| Q1 24 | — | $73.0M |
自由现金流率TKOTNET
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 1.8% | ||
| Q1 24 | — | 5.8% |
资本支出强度TKOTNET
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 1.4% |
现金转化率TKOTNET
| Q4 25 | — | — | ||
| Q3 25 | 10.16× | 2.12× | ||
| Q2 25 | 4.03× | 2.03× | ||
| Q1 25 | 2.79× | 1.12× | ||
| Q4 24 | 1.83× | — | ||
| Q3 24 | 10.22× | 1.87× | ||
| Q2 24 | 3.90× | 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
TKO
| World Wrestling Entertainment Segment | $359.6M | 35% |
| IMG Segment | $247.6M | 24% |
| Media Rights Production And Content | $222.6M | 21% |
| Partnerships And Marketing | $93.3M | 9% |
| Live Events And Hospitality | $72.2M | 7% |
| Other | $29.4M | 3% |
| Consumer Products Licensing And Other | $13.2M | 1% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
