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TRINET GROUP, INC.（TNET）与Ubiquiti Inc.（UI）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Ubiquiti Inc.的1.5倍（$1.2B vs $814.9M），Ubiquiti Inc.同比增速更快（35.8% vs -2.2%），Ubiquiti Inc.自由现金流更多（$260.3M vs $43.0M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% 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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
TNET vs UI — 直观对比
营收规模更大
TNET
是对方的1.5倍
$814.9M
营收增速更快
UI
高出38.0%
-2.2%
自由现金流更多
UI
多$217.3M
$43.0M
两年增速更快
UI
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $814.9M |
| 净利润 | — | $233.6M |
| 毛利率 | — | 45.9% |
| 营业利润率 | 0.1% | 35.9% |
| 净利率 | — | 28.7% |
| 营收同比 | -2.2% | 35.8% |
| 净利润同比 | — | 70.8% |
| 每股收益（稀释后） | $0.02 | $3.86 |
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TNETUI
| Q4 25 | $1.2B | $814.9M | ||
| Q3 25 | $1.2B | $733.8M | ||
| Q2 25 | $1.2B | $759.2M | ||
| Q1 25 | $1.3B | $664.2M | ||
| Q4 24 | $1.3B | $599.9M | ||
| Q3 24 | $1.2B | $550.3M | ||
| Q2 24 | $1.2B | $507.5M | ||
| Q1 24 | $1.3B | $493.0M |
净利润TNETUI
| Q4 25 | — | $233.6M | ||
| Q3 25 | $34.0M | $207.9M | ||
| Q2 25 | $37.0M | $266.7M | ||
| Q1 25 | $85.0M | $180.4M | ||
| Q4 24 | — | $136.8M | ||
| Q3 24 | $45.0M | $128.0M | ||
| Q2 24 | $60.0M | $103.8M | ||
| Q1 24 | $91.0M | $76.3M |
毛利率TNETUI
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 46.0% | ||
| Q2 25 | — | 45.1% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | — | 41.2% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | 40.2% | ||
| Q1 24 | — | 35.3% |
营业利润率TNETUI
| Q4 25 | 0.1% | 35.9% | ||
| Q3 25 | 4.1% | 35.7% | ||
| Q2 25 | 4.1% | 34.4% | ||
| Q1 25 | 8.9% | 34.2% | ||
| Q4 24 | -2.9% | 29.8% | ||
| Q3 24 | 4.7% | 30.7% | ||
| Q2 24 | 6.5% | 27.3% | ||
| Q1 24 | 9.7% | 22.6% |
净利率TNETUI
| Q4 25 | — | 28.7% | ||
| Q3 25 | 2.8% | 28.3% | ||
| Q2 25 | 3.0% | 35.1% | ||
| Q1 25 | 6.6% | 27.2% | ||
| Q4 24 | — | 22.8% | ||
| Q3 24 | 3.6% | 23.3% | ||
| Q2 24 | 4.9% | 20.5% | ||
| Q1 24 | 7.2% | 15.5% |
每股收益（稀释后）TNETUI
| Q4 25 | $0.02 | $3.86 | ||
| Q3 25 | $0.70 | $3.43 | ||
| Q2 25 | $0.77 | $4.40 | ||
| Q1 25 | $1.71 | $2.98 | ||
| Q4 24 | $-0.44 | $2.26 | ||
| Q3 24 | $0.89 | $2.12 | ||
| Q2 24 | $1.20 | $1.72 | ||
| Q1 24 | $1.78 | $1.26 |
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 | $302.8M |
| 总债务越低越好 | — | $47.5M |
| 股东权益账面价值 | $54.0M | $1.0B |
| 总资产 | $3.8B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资TNETUI
| Q4 25 | $287.0M | $302.8M | ||
| Q3 25 | $321.0M | $177.2M | ||
| Q2 25 | $407.0M | $149.7M | ||
| Q1 25 | $349.0M | $151.0M | ||
| Q4 24 | $360.0M | $133.1M | ||
| Q3 24 | $301.0M | $165.2M | ||
| Q2 24 | $249.0M | $126.3M | ||
| Q1 24 | $383.0M | $102.5M |
总债务TNETUI
| Q4 25 | — | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益TNETUI
| Q4 25 | $54.0M | $1.0B | ||
| Q3 25 | $110.0M | $828.4M | ||
| Q2 25 | $107.0M | $668.3M | ||
| Q1 25 | $63.0M | $436.1M | ||
| Q4 24 | $69.0M | $290.4M | ||
| Q3 24 | $129.0M | $188.1M | ||
| Q2 24 | $100.0M | $95.1M | ||
| Q1 24 | $143.0M | $25.9M |
总资产TNETUI
| Q4 25 | $3.8B | $1.6B | ||
| Q3 25 | $3.4B | $1.5B | ||
| Q2 25 | $3.7B | $1.5B | ||
| Q1 25 | $3.8B | $1.3B | ||
| Q4 24 | $4.1B | $1.2B | ||
| Q3 24 | $3.7B | $1.2B | ||
| Q2 24 | $3.7B | $1.2B | ||
| Q1 24 | $4.0B | $1.2B |
负债/权益比TNETUI
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 33.92× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $43.0M | $260.3M |
| 自由现金流率自由现金流/营收 | 3.4% | 31.9% |
| 资本支出强度资本支出/营收 | 1.4% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | $234.0M | $699.5M |
8季度趋势，按日历期对齐
经营现金流TNETUI
| Q4 25 | $61.0M | $263.9M | ||
| Q3 25 | $72.0M | $198.5M | ||
| Q2 25 | $75.0M | $130.4M | ||
| Q1 25 | $95.0M | $123.6M | ||
| Q4 24 | $65.0M | $152.4M | ||
| Q3 24 | $84.0M | $233.7M | ||
| Q2 24 | $39.0M | $231.4M | ||
| Q1 24 | $91.0M | $163.9M |
自由现金流TNETUI
| Q4 25 | $43.0M | $260.3M | ||
| Q3 25 | $55.0M | $193.3M | ||
| Q2 25 | $57.0M | $125.2M | ||
| Q1 25 | $79.0M | $120.7M | ||
| Q4 24 | $47.0M | $150.4M | ||
| Q3 24 | $59.0M | $231.1M | ||
| Q2 24 | $22.0M | $229.5M | ||
| Q1 24 | $73.0M | $160.6M |
自由现金流率TNETUI
| Q4 25 | 3.4% | 31.9% | ||
| Q3 25 | 4.5% | 26.3% | ||
| Q2 25 | 4.6% | 16.5% | ||
| Q1 25 | 6.1% | 18.2% | ||
| Q4 24 | 3.7% | 25.1% | ||
| Q3 24 | 4.8% | 42.0% | ||
| Q2 24 | 1.8% | 45.2% | ||
| Q1 24 | 5.8% | 32.6% |
资本支出强度TNETUI
| Q4 25 | 1.4% | 0.4% | ||
| Q3 25 | 1.4% | 0.7% | ||
| Q2 25 | 1.5% | 0.7% | ||
| Q1 25 | 1.2% | 0.4% | ||
| Q4 24 | 1.4% | 0.3% | ||
| Q3 24 | 2.0% | 0.5% | ||
| Q2 24 | 1.4% | 0.4% | ||
| Q1 24 | 1.4% | 0.7% |
现金转化率TNETUI
| Q4 25 | — | 1.13× | ||
| Q3 25 | 2.12× | 0.95× | ||
| Q2 25 | 2.03× | 0.49× | ||
| Q1 25 | 1.12× | 0.68× | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | 1.87× | 1.83× | ||
| Q2 24 | 0.65× | 2.23× | ||
| Q1 24 | 1.00× | 2.15× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
