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TRINET GROUP, INC.（TNET）与Worthington Steel, Inc.（WS）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Worthington Steel, Inc.的1.4倍（$1.2B vs $871.9M），Worthington Steel, Inc.同比增速更快（18.0% vs -2.2%），Worthington Steel, Inc.自由现金流更多（$74.6M vs $43.0M），过去两年Worthington Steel, Inc.的营收复合增速更高（3.9% 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。
沃辛顿钢铁是总部位于美国俄亥俄州哥伦布市的工业制造企业，下设消费品和建筑建材两大业务板块，主营各类压力容器的设计与生产，覆盖丙烷、氧气、氦气储罐，制冷剂及工业气瓶，露营与民用气瓶，以及用于存储、处理、加热、扩容和流量控制的供水系统罐体等产品。
TNET vs WS — 直观对比
营收规模更大
TNET
是对方的1.4倍
$871.9M
营收增速更快
WS
高出20.2%
-2.2%
自由现金流更多
WS
多$31.6M
$43.0M
两年增速更快
WS
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $871.9M |
| 净利润 | — | $18.8M |
| 毛利率 | — | 10.7% |
| 营业利润率 | 0.1% | 2.5% |
| 净利率 | — | 2.2% |
| 营收同比 | -2.2% | 18.0% |
| 净利润同比 | — | 46.9% |
| 每股收益（稀释后） | $0.02 | $0.37 |
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TNETWS
| Q4 25 | $1.2B | $871.9M | ||
| Q3 25 | $1.2B | $872.9M | ||
| Q2 25 | $1.2B | $832.9M | ||
| Q1 25 | $1.3B | $687.4M | ||
| Q4 24 | $1.3B | $739.0M | ||
| Q3 24 | $1.2B | $834.0M | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.3B | $805.8M |
净利润TNETWS
| Q4 25 | — | $18.8M | ||
| Q3 25 | $34.0M | $36.8M | ||
| Q2 25 | $37.0M | $55.7M | ||
| Q1 25 | $85.0M | $13.8M | ||
| Q4 24 | — | $12.8M | ||
| Q3 24 | $45.0M | $28.4M | ||
| Q2 24 | $60.0M | — | ||
| Q1 24 | $91.0M | $49.0M |
毛利率TNETWS
| Q4 25 | — | 10.7% | ||
| Q3 25 | — | 13.2% | ||
| Q2 25 | — | 15.2% | ||
| Q1 25 | — | 11.8% | ||
| Q4 24 | — | 10.8% | ||
| Q3 24 | — | 12.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 14.9% |
营业利润率TNETWS
| Q4 25 | 0.1% | 2.5% | ||
| Q3 25 | 4.1% | 5.5% | ||
| Q2 25 | 4.1% | 8.0% | ||
| Q1 25 | 8.9% | 2.7% | ||
| Q4 24 | -2.9% | 2.6% | ||
| Q3 24 | 4.7% | 5.2% | ||
| Q2 24 | 6.5% | — | ||
| Q1 24 | 9.7% | 8.2% |
净利率TNETWS
| Q4 25 | — | 2.2% | ||
| Q3 25 | 2.8% | 4.2% | ||
| Q2 25 | 3.0% | 6.7% | ||
| Q1 25 | 6.6% | 2.0% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | 3.6% | 3.4% | ||
| Q2 24 | 4.9% | — | ||
| Q1 24 | 7.2% | 6.1% |
每股收益（稀释后）TNETWS
| Q4 25 | $0.02 | $0.37 | ||
| Q3 25 | $0.70 | $0.72 | ||
| Q2 25 | $0.77 | $1.11 | ||
| Q1 25 | $1.71 | $0.27 | ||
| Q4 24 | $-0.44 | $0.25 | ||
| Q3 24 | $0.89 | $0.56 | ||
| Q2 24 | $1.20 | — | ||
| Q1 24 | $1.78 | $0.98 |
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 | $89.8M |
| 总债务越低越好 | — | $72.1M |
| 股东权益账面价值 | $54.0M | $1.1B |
| 总资产 | $3.8B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资TNETWS
| Q4 25 | $287.0M | $89.8M | ||
| Q3 25 | $321.0M | $78.3M | ||
| Q2 25 | $407.0M | $38.0M | ||
| Q1 25 | $349.0M | $63.3M | ||
| Q4 24 | $360.0M | $52.0M | ||
| Q3 24 | $301.0M | $36.0M | ||
| Q2 24 | $249.0M | — | ||
| Q1 24 | $383.0M | $60.8M |
总债务TNETWS
| Q4 25 | — | $72.1M | ||
| Q3 25 | — | $73.4M | ||
| Q2 25 | — | $151.5M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $115.0M | ||
| Q3 24 | — | $122.2M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $147.2M |
股东权益TNETWS
| Q4 25 | $54.0M | $1.1B | ||
| Q3 25 | $110.0M | $1.1B | ||
| Q2 25 | $107.0M | $1.1B | ||
| Q1 25 | $63.0M | $1.0B | ||
| Q4 24 | $69.0M | $1.0B | ||
| Q3 24 | $129.0M | $1.0B | ||
| Q2 24 | $100.0M | — | ||
| Q1 24 | $143.0M | $937.6M |
总资产TNETWS
| Q4 25 | $3.8B | $2.1B | ||
| Q3 25 | $3.4B | $2.2B | ||
| Q2 25 | $3.7B | $2.0B | ||
| Q1 25 | $3.8B | $1.8B | ||
| Q4 24 | $4.1B | $1.7B | ||
| Q3 24 | $3.7B | $1.8B | ||
| Q2 24 | $3.7B | — | ||
| Q1 24 | $4.0B | $1.8B |
负债/权益比TNETWS
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.16× |
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 | $99.3M |
| 自由现金流经营现金流 - 资本支出 | $43.0M | $74.6M |
| 自由现金流率自由现金流/营收 | 3.4% | 8.6% |
| 资本支出强度资本支出/营收 | 1.4% | 2.8% |
| 现金转化率经营现金流/净利润 | — | 5.28× |
| 过去12个月自由现金流最近4个季度 | $234.0M | $72.5M |
8季度趋势，按日历期对齐
经营现金流TNETWS
| Q4 25 | $61.0M | $99.3M | ||
| Q3 25 | $72.0M | $-6.3M | ||
| Q2 25 | $75.0M | $53.9M | ||
| Q1 25 | $95.0M | $53.8M | ||
| Q4 24 | $65.0M | $68.0M | ||
| Q3 24 | $84.0M | $54.6M | ||
| Q2 24 | $39.0M | — | ||
| Q1 24 | $91.0M | $44.7M |
自由现金流TNETWS
| Q4 25 | $43.0M | $74.6M | ||
| Q3 25 | $55.0M | $-35.7M | ||
| Q2 25 | $57.0M | $8.4M | ||
| Q1 25 | $79.0M | $25.2M | ||
| Q4 24 | $47.0M | $33.2M | ||
| Q3 24 | $59.0M | $33.1M | ||
| Q2 24 | $22.0M | — | ||
| Q1 24 | $73.0M | $22.3M |
自由现金流率TNETWS
| Q4 25 | 3.4% | 8.6% | ||
| Q3 25 | 4.5% | -4.1% | ||
| Q2 25 | 4.6% | 1.0% | ||
| Q1 25 | 6.1% | 3.7% | ||
| Q4 24 | 3.7% | 4.5% | ||
| Q3 24 | 4.8% | 4.0% | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 5.8% | 2.8% |
资本支出强度TNETWS
| Q4 25 | 1.4% | 2.8% | ||
| Q3 25 | 1.4% | 3.4% | ||
| Q2 25 | 1.5% | 5.5% | ||
| Q1 25 | 1.2% | 4.2% | ||
| Q4 24 | 1.4% | 4.7% | ||
| Q3 24 | 2.0% | 2.6% | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 1.4% | 2.8% |
现金转化率TNETWS
| Q4 25 | — | 5.28× | ||
| Q3 25 | 2.12× | -0.17× | ||
| Q2 25 | 2.03× | 0.97× | ||
| Q1 25 | 1.12× | 3.90× | ||
| Q4 24 | — | 5.31× | ||
| Q3 24 | 1.87× | 1.92× | ||
| Q2 24 | 0.65× | — | ||
| Q1 24 | 1.00× | 0.91× |
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% |
WS
| Direct | $844.1M | 97% |
| Toll | $27.8M | 3% |
