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TRINET GROUP, INC.（TNET）与WESTERN ALLIANCE BANCORPORATION（WAL）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WESTERN ALLIANCE BANCORPORATION的1.2倍（$1.2B vs $1.0B），WESTERN ALLIANCE BANCORPORATION同比增速更快（31.0% vs -2.2%），过去两年WESTERN ALLIANCE BANCORPORATION的营收复合增速更高（14.9% 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。
Western Alliance Bancorporation是总部位于美国菲尼克斯的区域性银行控股公司，长期深耕美国本土区域金融服务市场，目前已跻身美国最大银行行列，在福布斯发布的美国最佳银行榜单中排名第97位。
TNET vs WAL — 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
WAL
高出33.2%
-2.2%
两年增速更快
WAL
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.0B |
| 净利润 | — | $189.2M |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | — |
| 净利率 | — | 18.6% |
| 营收同比 | -2.2% | 31.0% |
| 净利润同比 | — | -5.0% |
| 每股收益（稀释后） | $0.02 | $1.65 |
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TNETWAL
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.2B | $980.9M | ||
| Q3 25 | $1.2B | $938.2M | ||
| Q2 25 | $1.2B | $845.9M | ||
| Q1 25 | $1.3B | $778.0M | ||
| Q4 24 | $1.3B | $838.4M | ||
| Q3 24 | $1.2B | $823.1M | ||
| Q2 24 | $1.2B | $771.8M |
净利润TNETWAL
| Q1 26 | — | $189.2M | ||
| Q4 25 | — | $286.1M | ||
| Q3 25 | $34.0M | $253.4M | ||
| Q2 25 | $37.0M | $230.4M | ||
| Q1 25 | $85.0M | $199.1M | ||
| Q4 24 | — | $216.9M | ||
| Q3 24 | $45.0M | $199.8M | ||
| Q2 24 | $60.0M | $193.6M |
营业利润率TNETWAL
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 36.3% | ||
| Q3 25 | 4.1% | 33.4% | ||
| Q2 25 | 4.1% | 34.4% | ||
| Q1 25 | 8.9% | 31.7% | ||
| Q4 24 | -2.9% | 30.9% | ||
| Q3 24 | 4.7% | 30.6% | ||
| Q2 24 | 6.5% | 32.1% |
净利率TNETWAL
| Q1 26 | — | 18.6% | ||
| Q4 25 | — | 29.2% | ||
| Q3 25 | 2.8% | 27.0% | ||
| Q2 25 | 3.0% | 27.2% | ||
| Q1 25 | 6.6% | 25.6% | ||
| Q4 24 | — | 25.9% | ||
| Q3 24 | 3.6% | 24.3% | ||
| Q2 24 | 4.9% | 25.1% |
每股收益（稀释后）TNETWAL
| Q1 26 | — | $1.65 | ||
| Q4 25 | $0.02 | $2.59 | ||
| Q3 25 | $0.70 | $2.28 | ||
| Q2 25 | $0.77 | $2.07 | ||
| Q1 25 | $1.71 | $1.79 | ||
| Q4 24 | $-0.44 | $1.94 | ||
| Q3 24 | $0.89 | $1.80 | ||
| Q2 24 | $1.20 | $1.75 |
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 | — |
| 总债务越低越好 | — | $4.3B |
| 股东权益账面价值 | $54.0M | $7.9B |
| 总资产 | $3.8B | $98.9B |
| 负债/权益比越低杠杆越低 | — | 0.54× |
8季度趋势，按日历期对齐
现金及短期投资TNETWAL
| Q1 26 | — | — | ||
| Q4 25 | $287.0M | — | ||
| Q3 25 | $321.0M | — | ||
| Q2 25 | $407.0M | — | ||
| Q1 25 | $349.0M | — | ||
| Q4 24 | $360.0M | — | ||
| Q3 24 | $301.0M | — | ||
| Q2 24 | $249.0M | — |
总债务TNETWAL
| Q1 26 | — | $4.3B | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $436.0M |
股东权益TNETWAL
| Q1 26 | — | $7.9B | ||
| Q4 25 | $54.0M | $7.7B | ||
| Q3 25 | $110.0M | $7.4B | ||
| Q2 25 | $107.0M | $7.1B | ||
| Q1 25 | $63.0M | $6.9B | ||
| Q4 24 | $69.0M | $6.7B | ||
| Q3 24 | $129.0M | $6.7B | ||
| Q2 24 | $100.0M | $6.3B |
总资产TNETWAL
| Q1 26 | — | $98.9B | ||
| Q4 25 | $3.8B | $92.8B | ||
| Q3 25 | $3.4B | $91.0B | ||
| Q2 25 | $3.7B | $86.7B | ||
| Q1 25 | $3.8B | $83.0B | ||
| Q4 24 | $4.1B | $80.9B | ||
| Q3 24 | $3.7B | $80.1B | ||
| Q2 24 | $3.7B | $80.6B |
负债/权益比TNETWAL
| Q1 26 | — | 0.54× | ||
| Q4 25 | — | 0.18× | ||
| Q3 25 | — | 0.39× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | — | 0.23× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.07× |
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TNETWAL
| Q1 26 | — | — | ||
| Q4 25 | $61.0M | $-2.7B | ||
| Q3 25 | $72.0M | $-597.4M | ||
| Q2 25 | $75.0M | $-357.7M | ||
| Q1 25 | $95.0M | $-1.7B | ||
| Q4 24 | $65.0M | $-2.7B | ||
| Q3 24 | $84.0M | $-1.1B | ||
| Q2 24 | $39.0M | $-745.8M |
自由现金流TNETWAL
| Q1 26 | — | — | ||
| 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 | — |
自由现金流率TNETWAL
| Q1 26 | — | — | ||
| 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% | — |
资本支出强度TNETWAL
| Q1 26 | — | — | ||
| 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% | — |
现金转化率TNETWAL
| Q1 26 | — | — | ||
| Q4 25 | — | -9.36× | ||
| Q3 25 | 2.12× | -2.36× | ||
| Q2 25 | 2.03× | -1.55× | ||
| Q1 25 | 1.12× | -8.31× | ||
| Q4 24 | — | -12.64× | ||
| Q3 24 | 1.87× | -5.35× | ||
| Q2 24 | 0.65× | -3.85× |
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% |
WAL
暂无分部数据
