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TRINET GROUP, INC.（TNET）与Texas Roadhouse, Inc.（TXRH）财务数据对比。点击上方公司名可切换其他公司
Texas Roadhouse, Inc.的季度营收约是TRINET GROUP, INC.的1.2倍（$1.5B vs $1.2B），Texas Roadhouse, Inc.同比增速更快（3.1% vs -2.2%），过去两年Texas Roadhouse, Inc.的营收复合增速更高（12.8% 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。
Texas Roadhouse是美国知名牛排连锁餐厅，主打德克萨斯及美国西南部风味餐食，核心产品为各类牛排。品牌总部位于肯塔基州路易斯维尔，旗下还运营另外两个餐饮品牌。截至2025年8月，品牌在美国49个州拥有约800家门店，同时在11个国家开设了70家海外门店。
TNET vs TXRH — 直观对比
营收规模更大
TXRH
是对方的1.2倍
$1.2B
营收增速更快
TXRH
高出5.3%
-2.2%
两年增速更快
TXRH
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.5B |
| 净利润 | — | $86.7M |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 6.5% |
| 净利率 | — | 5.8% |
| 营收同比 | -2.2% | 3.1% |
| 净利润同比 | — | -26.9% |
| 每股收益（稀释后） | $0.02 | $1.29 |
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TNETTXRH
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | $1.4B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.2B | $1.3B | ||
| Q1 24 | $1.3B | $1.3B |
净利润TNETTXRH
| Q4 25 | — | $86.7M | ||
| Q3 25 | $34.0M | $84.9M | ||
| Q2 25 | $37.0M | $116.1M | ||
| Q1 25 | $85.0M | — | ||
| Q4 24 | — | $118.5M | ||
| Q3 24 | $45.0M | $86.8M | ||
| Q2 24 | $60.0M | $123.1M | ||
| Q1 24 | $91.0M | $116.0M |
营业利润率TNETTXRH
| Q4 25 | 0.1% | 6.5% | ||
| Q3 25 | 4.1% | 6.7% | ||
| Q2 25 | 4.1% | 9.3% | ||
| Q1 25 | 8.9% | — | ||
| Q4 24 | -2.9% | 9.6% | ||
| Q3 24 | 4.7% | 8.0% | ||
| Q2 24 | 6.5% | 10.6% | ||
| Q1 24 | 9.7% | 10.1% |
净利率TNETTXRH
| Q4 25 | — | 5.8% | ||
| Q3 25 | 2.8% | 5.9% | ||
| Q2 25 | 3.0% | 8.0% | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | — | 8.2% | ||
| Q3 24 | 3.6% | 6.8% | ||
| Q2 24 | 4.9% | 9.2% | ||
| Q1 24 | 7.2% | 8.8% |
每股收益（稀释后）TNETTXRH
| Q4 25 | $0.02 | $1.29 | ||
| Q3 25 | $0.70 | $1.25 | ||
| Q2 25 | $0.77 | $1.70 | ||
| Q1 25 | $1.71 | — | ||
| Q4 24 | $-0.44 | $1.73 | ||
| Q3 24 | $0.89 | $1.26 | ||
| Q2 24 | $1.20 | $1.79 | ||
| Q1 24 | $1.78 | $1.69 |
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 | $134.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $54.0M | $1.5B |
| 总资产 | $3.8B | $3.5B |
| 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TNETTXRH
| Q4 25 | $287.0M | $134.7M | ||
| Q3 25 | $321.0M | $108.2M | ||
| Q2 25 | $407.0M | $221.1M | ||
| Q1 25 | $349.0M | — | ||
| Q4 24 | $360.0M | $245.2M | ||
| Q3 24 | $301.0M | $189.2M | ||
| Q2 24 | $249.0M | $197.5M | ||
| Q1 24 | $383.0M | $213.4M |
股东权益TNETTXRH
| Q4 25 | $54.0M | $1.5B | ||
| Q3 25 | $110.0M | $1.5B | ||
| Q2 25 | $107.0M | $1.4B | ||
| Q1 25 | $63.0M | — | ||
| Q4 24 | $69.0M | $1.4B | ||
| Q3 24 | $129.0M | $1.3B | ||
| Q2 24 | $100.0M | $1.3B | ||
| Q1 24 | $143.0M | $1.2B |
总资产TNETTXRH
| Q4 25 | $3.8B | $3.5B | ||
| Q3 25 | $3.4B | $3.3B | ||
| Q2 25 | $3.7B | $3.2B | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $4.1B | $3.2B | ||
| Q3 24 | $3.7B | $2.9B | ||
| Q2 24 | $3.7B | $2.9B | ||
| Q1 24 | $4.0B | $2.8B |
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TNETTXRH
| Q4 25 | $61.0M | — | ||
| Q3 25 | $72.0M | $143.6M | ||
| Q2 25 | $75.0M | $237.7M | ||
| Q1 25 | $95.0M | — | ||
| Q4 24 | $65.0M | $237.5M | ||
| Q3 24 | $84.0M | $138.7M | ||
| Q2 24 | $39.0M | $133.9M | ||
| Q1 24 | $91.0M | $243.4M |
自由现金流TNETTXRH
| Q4 25 | $43.0M | — | ||
| Q3 25 | $55.0M | $14.7M | ||
| Q2 25 | $57.0M | $160.4M | ||
| Q1 25 | $79.0M | — | ||
| Q4 24 | $47.0M | $129.7M | ||
| Q3 24 | $59.0M | $47.7M | ||
| Q2 24 | $22.0M | $56.1M | ||
| Q1 24 | $73.0M | $165.8M |
自由现金流率TNETTXRH
| Q4 25 | 3.4% | — | ||
| Q3 25 | 4.5% | 1.0% | ||
| Q2 25 | 4.6% | 11.1% | ||
| Q1 25 | 6.1% | — | ||
| Q4 24 | 3.7% | 9.0% | ||
| Q3 24 | 4.8% | 3.7% | ||
| Q2 24 | 1.8% | 4.2% | ||
| Q1 24 | 5.8% | 12.5% |
资本支出强度TNETTXRH
| Q4 25 | 1.4% | — | ||
| Q3 25 | 1.4% | 9.0% | ||
| Q2 25 | 1.5% | 5.3% | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 1.4% | 7.5% | ||
| Q3 24 | 2.0% | 7.2% | ||
| Q2 24 | 1.4% | 5.8% | ||
| Q1 24 | 1.4% | 5.9% |
现金转化率TNETTXRH
| Q4 25 | — | — | ||
| Q3 25 | 2.12× | 1.69× | ||
| Q2 25 | 2.03× | 2.05× | ||
| Q1 25 | 1.12× | — | ||
| Q4 24 | — | 2.00× | ||
| Q3 24 | 1.87× | 1.60× | ||
| Q2 24 | 0.65× | 1.09× | ||
| Q1 24 | 1.00× | 2.10× |
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% |
TXRH
| Food And Beverage | $1.5B | 99% |
| Texas Roadhouse Segment | $21.2M | 1% |
| Franchise | $8.2M | 1% |
| Franchise Royalty | $7.4M | 0% |
| Bubba S33Segment | $2.3M | 0% |
