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TRINET GROUP, INC.（TNET）与Vestis Corp（VSTS）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Vestis Corp的1.9倍（$1.2B vs $663.4M），TRINET GROUP, INC.同比增速更快（-2.2% vs -3.0%），TRINET GROUP, INC.自由现金流更多（$43.0M vs $28.3M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -3.0%）
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。
Vestis Corp是北美领先的工作制服、安全防护服饰及配套设施服务供应商，服务覆盖医疗、制造、零售、餐饮住宿、公共服务等多个领域，为企业客户提供定制化的制服租赁、清洁与日常维护解决方案。
TNET vs VSTS — 直观对比
营收规模更大
TNET
是对方的1.9倍
$663.4M
营收增速更快
TNET
高出0.8%
-3.0%
自由现金流更多
TNET
多$14.7M
$28.3M
两年增速更快
TNET
近两年复合增速
-3.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $663.4M |
| 净利润 | — | $-6.4M |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 2.5% |
| 净利率 | — | -1.0% |
| 营收同比 | -2.2% | -3.0% |
| 净利润同比 | — | -868.1% |
| 每股收益（稀释后） | $0.02 | $-0.05 |
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TNETVSTS
| Q1 26 | — | $663.4M | ||
| Q4 25 | $1.2B | $712.0M | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | $673.8M | ||
| Q1 25 | $1.3B | $665.2M | ||
| Q4 24 | $1.3B | $683.8M | ||
| Q3 24 | $1.2B | $684.3M | ||
| Q2 24 | $1.2B | $698.2M |
净利润TNETVSTS
| Q1 26 | — | $-6.4M | ||
| Q4 25 | — | $-12.5M | ||
| Q3 25 | $34.0M | — | ||
| Q2 25 | $37.0M | $-676.0K | ||
| Q1 25 | $85.0M | $-27.8M | ||
| Q4 24 | — | $832.0K | ||
| Q3 24 | $45.0M | $-2.3M | ||
| Q2 24 | $60.0M | $5.0M |
营业利润率TNETVSTS
| Q1 26 | — | 2.5% | ||
| Q4 25 | 0.1% | 2.5% | ||
| Q3 25 | 4.1% | — | ||
| Q2 25 | 4.1% | 3.7% | ||
| Q1 25 | 8.9% | -1.3% | ||
| Q4 24 | -2.9% | 4.4% | ||
| Q3 24 | 4.7% | 4.4% | ||
| Q2 24 | 6.5% | 5.4% |
净利率TNETVSTS
| Q1 26 | — | -1.0% | ||
| Q4 25 | — | -1.8% | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | 3.0% | -0.1% | ||
| Q1 25 | 6.6% | -4.2% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | 3.6% | -0.3% | ||
| Q2 24 | 4.9% | 0.7% |
每股收益（稀释后）TNETVSTS
| Q1 26 | — | $-0.05 | ||
| Q4 25 | $0.02 | $-0.10 | ||
| Q3 25 | $0.70 | — | ||
| Q2 25 | $0.77 | $-0.01 | ||
| Q1 25 | $1.71 | $-0.21 | ||
| Q4 24 | $-0.44 | $0.01 | ||
| Q3 24 | $0.89 | $-0.02 | ||
| Q2 24 | $1.20 | $0.04 |
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 | $41.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $54.0M | $864.4M |
| 总资产 | $3.8B | $2.9B |
| 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TNETVSTS
| Q1 26 | — | $41.5M | ||
| Q4 25 | $287.0M | $29.7M | ||
| Q3 25 | $321.0M | — | ||
| Q2 25 | $407.0M | $23.7M | ||
| Q1 25 | $349.0M | $28.8M | ||
| Q4 24 | $360.0M | $18.6M | ||
| Q3 24 | $301.0M | $31.0M | ||
| Q2 24 | $249.0M | $29.1M |
总债务TNETVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — |
股东权益TNETVSTS
| Q1 26 | — | $864.4M | ||
| Q4 25 | $54.0M | $865.6M | ||
| Q3 25 | $110.0M | — | ||
| Q2 25 | $107.0M | $882.2M | ||
| Q1 25 | $63.0M | $876.3M | ||
| Q4 24 | $69.0M | $899.6M | ||
| Q3 24 | $129.0M | $903.1M | ||
| Q2 24 | $100.0M | $901.2M |
总资产TNETVSTS
| Q1 26 | — | $2.9B | ||
| Q4 25 | $3.8B | $2.9B | ||
| Q3 25 | $3.4B | — | ||
| Q2 25 | $3.7B | $2.9B | ||
| Q1 25 | $3.8B | $2.9B | ||
| Q4 24 | $4.1B | $2.9B | ||
| Q3 24 | $3.7B | $2.9B | ||
| Q2 24 | $3.7B | $3.1B |
负债/权益比TNETVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | 1.35× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | — |
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 | $37.7M |
| 自由现金流经营现金流 - 资本支出 | $43.0M | $28.3M |
| 自由现金流率自由现金流/营收 | 3.4% | 4.3% |
| 资本支出强度资本支出/营收 | 1.4% | 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 | $45.0M |
8季度趋势，按日历期对齐
经营现金流TNETVSTS
| Q1 26 | — | $37.7M | ||
| Q4 25 | $61.0M | $30.9M | ||
| Q3 25 | $72.0M | — | ||
| Q2 25 | $75.0M | $22.9M | ||
| Q1 25 | $95.0M | $6.7M | ||
| Q4 24 | $65.0M | $3.8M | ||
| Q3 24 | $84.0M | $295.6M | ||
| Q2 24 | $39.0M | $48.7M |
自由现金流TNETVSTS
| Q1 26 | — | $28.3M | ||
| Q4 25 | $43.0M | $15.6M | ||
| Q3 25 | $55.0M | — | ||
| Q2 25 | $57.0M | $8.0M | ||
| Q1 25 | $79.0M | $-6.9M | ||
| Q4 24 | $47.0M | $-11.0M | ||
| Q3 24 | $59.0M | $267.5M | ||
| Q2 24 | $22.0M | $27.7M |
自由现金流率TNETVSTS
| Q1 26 | — | 4.3% | ||
| Q4 25 | 3.4% | 2.2% | ||
| Q3 25 | 4.5% | — | ||
| Q2 25 | 4.6% | 1.2% | ||
| Q1 25 | 6.1% | -1.0% | ||
| Q4 24 | 3.7% | -1.6% | ||
| Q3 24 | 4.8% | 39.1% | ||
| Q2 24 | 1.8% | 4.0% |
资本支出强度TNETVSTS
| Q1 26 | — | 1.4% | ||
| Q4 25 | 1.4% | 2.2% | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.5% | 2.2% | ||
| Q1 25 | 1.2% | 2.0% | ||
| Q4 24 | 1.4% | 2.2% | ||
| Q3 24 | 2.0% | 4.1% | ||
| Q2 24 | 1.4% | 3.0% |
现金转化率TNETVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 2.12× | — | ||
| Q2 25 | 2.03× | — | ||
| Q1 25 | 1.12× | — | ||
| Q4 24 | — | 4.54× | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 0.65× | 9.66× |
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% |
VSTS
| Workplace Supplies | $375.2M | 57% |
| Uniforms | $227.7M | 34% |
| Other | $60.5M | 9% |
