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TRINET GROUP, INC.（TNET）与普信集团（TROW）财务数据对比。点击上方公司名可切换其他公司
普信集团的季度营收约是TRINET GROUP, INC.的1.5倍（$1.9B vs $1.2B），TRINET GROUP, INC.同比增速更快（-2.2% vs -4.0%），过去两年普信集团的营收复合增速更高（3.5% vs -0.6%）
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。
普信集团（T. Rowe Price）是美国上市的全球性资产管理机构，面向个人、机构及金融中介提供基金、次咨询服务、独立账户管理、退休规划等多元金融服务。截至2023年，公司管理资产规模超1.51万亿美元，年营收64.8亿美元，位列美国财富1000强第537位。
TNET vs TROW — 直观对比
营收规模更大
TROW
是对方的1.5倍
$1.2B
营收增速更快
TNET
高出1.8%
-4.0%
两年增速更快
TROW
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.9B |
| 净利润 | — | $484.1M |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 36.6% |
| 净利率 | — | 26.1% |
| 营收同比 | -2.2% | -4.0% |
| 净利润同比 | — | 2.7% |
| 每股收益（稀释后） | $0.02 | $2.23 |
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TNETTROW
| Q1 26 | — | $1.9B | ||
| Q4 25 | $1.2B | $1.9B | ||
| Q3 25 | $1.2B | $1.9B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.2B | $1.8B | ||
| Q2 24 | $1.2B | $1.7B |
净利润TNETTROW
| Q1 26 | — | $484.1M | ||
| Q4 25 | — | $445.3M | ||
| Q3 25 | $34.0M | $646.1M | ||
| Q2 25 | $37.0M | $505.2M | ||
| Q1 25 | $85.0M | $490.5M | ||
| Q4 24 | — | $439.9M | ||
| Q3 24 | $45.0M | $603.0M | ||
| Q2 24 | $60.0M | $483.4M |
营业利润率TNETTROW
| Q1 26 | — | 36.6% | ||
| Q4 25 | 0.1% | 24.4% | ||
| Q3 25 | 4.1% | 34.0% | ||
| Q2 25 | 4.1% | 27.8% | ||
| Q1 25 | 8.9% | 33.8% | ||
| Q4 24 | -2.9% | 31.2% | ||
| Q3 24 | 4.7% | 34.4% | ||
| Q2 24 | 6.5% | 32.6% |
净利率TNETTROW
| Q1 26 | — | 26.1% | ||
| Q4 25 | — | 23.0% | ||
| Q3 25 | 2.8% | 34.1% | ||
| Q2 25 | 3.0% | 29.3% | ||
| Q1 25 | 6.6% | 27.8% | ||
| Q4 24 | — | 24.1% | ||
| Q3 24 | 3.6% | 33.8% | ||
| Q2 24 | 4.9% | 27.9% |
每股收益（稀释后）TNETTROW
| Q1 26 | — | $2.23 | ||
| Q4 25 | $0.02 | $1.98 | ||
| Q3 25 | $0.70 | $2.87 | ||
| Q2 25 | $0.77 | $2.24 | ||
| Q1 25 | $1.71 | $2.15 | ||
| Q4 24 | $-0.44 | $1.91 | ||
| Q3 24 | $0.89 | $2.64 | ||
| Q2 24 | $1.20 | $2.11 |
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 | $3.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $54.0M | $974.7M |
| 总资产 | $3.8B | $14.4B |
| 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TNETTROW
| Q1 26 | — | $3.7B | ||
| Q4 25 | $287.0M | $3.4B | ||
| Q3 25 | $321.0M | $3.6B | ||
| Q2 25 | $407.0M | $3.1B | ||
| Q1 25 | $349.0M | $2.8B | ||
| Q4 24 | $360.0M | $2.6B | ||
| Q3 24 | $301.0M | $3.2B | ||
| Q2 24 | $249.0M | $2.7B |
股东权益TNETTROW
| Q1 26 | — | $974.7M | ||
| Q4 25 | $54.0M | $10.9B | ||
| Q3 25 | $110.0M | $10.8B | ||
| Q2 25 | $107.0M | $10.6B | ||
| Q1 25 | $63.0M | $10.4B | ||
| Q4 24 | $69.0M | $10.3B | ||
| Q3 24 | $129.0M | $10.2B | ||
| Q2 24 | $100.0M | $9.9B |
总资产TNETTROW
| Q1 26 | — | $14.4B | ||
| Q4 25 | $3.8B | $14.3B | ||
| Q3 25 | $3.4B | $14.7B | ||
| Q2 25 | $3.7B | $14.3B | ||
| Q1 25 | $3.8B | $14.0B | ||
| Q4 24 | $4.1B | $13.5B | ||
| Q3 24 | $3.7B | $13.7B | ||
| Q2 24 | $3.7B | $13.1B |
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TNETTROW
| Q1 26 | — | — | ||
| Q4 25 | $61.0M | $-18.7M | ||
| Q3 25 | $72.0M | $609.3M | ||
| Q2 25 | $75.0M | $529.9M | ||
| Q1 25 | $95.0M | $632.9M | ||
| Q4 24 | $65.0M | $-281.9M | ||
| Q3 24 | $84.0M | $652.5M | ||
| Q2 24 | $39.0M | $677.7M |
自由现金流TNETTROW
| Q1 26 | — | — | ||
| Q4 25 | $43.0M | $-85.4M | ||
| Q3 25 | $55.0M | $546.0M | ||
| Q2 25 | $57.0M | $467.7M | ||
| Q1 25 | $79.0M | $550.9M | ||
| Q4 24 | $47.0M | $-394.9M | ||
| Q3 24 | $59.0M | $547.9M | ||
| Q2 24 | $22.0M | $574.4M |
自由现金流率TNETTROW
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | -4.4% | ||
| Q3 25 | 4.5% | 28.8% | ||
| Q2 25 | 4.6% | 27.1% | ||
| Q1 25 | 6.1% | 31.2% | ||
| Q4 24 | 3.7% | -21.6% | ||
| Q3 24 | 4.8% | 30.7% | ||
| Q2 24 | 1.8% | 33.1% |
资本支出强度TNETTROW
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 3.4% | ||
| Q3 25 | 1.4% | 3.3% | ||
| Q2 25 | 1.5% | 3.6% | ||
| Q1 25 | 1.2% | 4.6% | ||
| Q4 24 | 1.4% | 6.2% | ||
| Q3 24 | 2.0% | 5.9% | ||
| Q2 24 | 1.4% | 6.0% |
现金转化率TNETTROW
| Q1 26 | — | — | ||
| Q4 25 | — | -0.04× | ||
| Q3 25 | 2.12× | 0.94× | ||
| Q2 25 | 2.03× | 1.05× | ||
| Q1 25 | 1.12× | 1.29× | ||
| Q4 24 | — | -0.64× | ||
| Q3 24 | 1.87× | 1.08× | ||
| Q2 24 | 0.65× | 1.40× |
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
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
TROW
| Equity | $974.7M | 52% |
| Multi-asset | $509.1M | 27% |
| Administrative, distribution, servicing, and other fees | $138.4M | 7% |
| Fixed income, including money market | $111.8M | 6% |
| Alternatives | $87.4M | 5% |
| Capital allocation-based income (1) | $28.1M | 2% |
| Performance-based advisory fees | $7.5M | 0% |
