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TRINET GROUP, INC.（TNET）与Essential Utilities, Inc.（WTRG）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Essential Utilities, Inc.的1.8倍（$1.2B vs $699.1M），Essential Utilities, Inc.同比增速更快（15.7% vs -2.2%），过去两年Essential Utilities, Inc.的营收复合增速更高（6.9% 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。
Essential Utilities是美国公共事业企业，业务覆盖伊利诺伊、印第安纳、肯塔基、新泽西、北卡罗来纳、俄亥俄、宾夕法尼亚、得克萨斯、弗吉尼亚共九个州，主营饮用水供应、污水处理基础设施运营及天然气供应服务，作为上市公司（股票代码WTRG），是Aqua America和Peoples Natural Gas的母公司，两家子公司仍保留原有品牌独立运营。
TNET vs WTRG — 直观对比
营收规模更大
TNET
是对方的1.8倍
$699.1M
营收增速更快
WTRG
高出17.9%
-2.2%
两年增速更快
WTRG
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $699.1M |
| 净利润 | — | $132.7M |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 32.5% |
| 净利率 | — | 19.0% |
| 营收同比 | -2.2% | 15.7% |
| 净利润同比 | — | -28.2% |
| 每股收益（稀释后） | $0.02 | $0.46 |
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TNETWTRG
| Q4 25 | $1.2B | $699.1M | ||
| Q3 25 | $1.2B | $477.0M | ||
| Q2 25 | $1.2B | $514.9M | ||
| Q1 25 | $1.3B | $783.6M | ||
| Q4 24 | $1.3B | $604.4M | ||
| Q3 24 | $1.2B | $435.3M | ||
| Q2 24 | $1.2B | $434.4M | ||
| Q1 24 | $1.3B | $612.1M |
净利润TNETWTRG
| Q4 25 | — | $132.7M | ||
| Q3 25 | $34.0M | $92.1M | ||
| Q2 25 | $37.0M | $107.8M | ||
| Q1 25 | $85.0M | $283.8M | ||
| Q4 24 | — | $184.8M | ||
| Q3 24 | $45.0M | $69.4M | ||
| Q2 24 | $60.0M | $75.4M | ||
| Q1 24 | $91.0M | $265.8M |
营业利润率TNETWTRG
| Q4 25 | 0.1% | 32.5% | ||
| Q3 25 | 4.1% | 35.6% | ||
| Q2 25 | 4.1% | 36.0% | ||
| Q1 25 | 8.9% | 43.2% | ||
| Q4 24 | -2.9% | 37.5% | ||
| Q3 24 | 4.7% | 35.6% | ||
| Q2 24 | 6.5% | 33.4% | ||
| Q1 24 | 9.7% | 37.7% |
净利率TNETWTRG
| Q4 25 | — | 19.0% | ||
| Q3 25 | 2.8% | 19.3% | ||
| Q2 25 | 3.0% | 20.9% | ||
| Q1 25 | 6.6% | 36.2% | ||
| Q4 24 | — | 30.6% | ||
| Q3 24 | 3.6% | 15.9% | ||
| Q2 24 | 4.9% | 17.4% | ||
| Q1 24 | 7.2% | 43.4% |
每股收益（稀释后）TNETWTRG
| Q4 25 | $0.02 | $0.46 | ||
| Q3 25 | $0.70 | $0.33 | ||
| Q2 25 | $0.77 | $0.38 | ||
| Q1 25 | $1.71 | $1.03 | ||
| Q4 24 | $-0.44 | $0.67 | ||
| Q3 24 | $0.89 | $0.25 | ||
| Q2 24 | $1.20 | $0.28 | ||
| Q1 24 | $1.78 | $0.97 |
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 | $34.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $54.0M | $6.9B |
| 总资产 | $3.8B | $19.5B |
| 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TNETWTRG
| Q4 25 | $287.0M | $34.8M | ||
| Q3 25 | $321.0M | $6.4M | ||
| Q2 25 | $407.0M | $25.1M | ||
| Q1 25 | $349.0M | $20.8M | ||
| Q4 24 | $360.0M | $9.2M | ||
| Q3 24 | $301.0M | $8.4M | ||
| Q2 24 | $249.0M | $18.8M | ||
| Q1 24 | $383.0M | $35.2M |
股东权益TNETWTRG
| Q4 25 | $54.0M | $6.9B | ||
| Q3 25 | $110.0M | $6.8B | ||
| Q2 25 | $107.0M | $6.7B | ||
| Q1 25 | $63.0M | $6.5B | ||
| Q4 24 | $69.0M | $6.2B | ||
| Q3 24 | $129.0M | $6.2B | ||
| Q2 24 | $100.0M | $6.2B | ||
| Q1 24 | $143.0M | $6.1B |
总资产TNETWTRG
| Q4 25 | $3.8B | $19.5B | ||
| Q3 25 | $3.4B | $18.9B | ||
| Q2 25 | $3.7B | $18.6B | ||
| Q1 25 | $3.8B | $18.3B | ||
| Q4 24 | $4.1B | $18.0B | ||
| Q3 24 | $3.7B | $17.6B | ||
| Q2 24 | $3.7B | $17.3B | ||
| Q1 24 | $4.0B | $17.1B |
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 | $206.1M |
| 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 | — | 1.55× |
| 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TNETWTRG
| Q4 25 | $61.0M | $206.1M | ||
| Q3 25 | $72.0M | $232.5M | ||
| Q2 25 | $75.0M | $272.3M | ||
| Q1 25 | $95.0M | $299.5M | ||
| Q4 24 | $65.0M | $147.8M | ||
| Q3 24 | $84.0M | $196.1M | ||
| Q2 24 | $39.0M | $185.7M | ||
| Q1 24 | $91.0M | $240.7M |
自由现金流TNETWTRG
| 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 | — | ||
| Q1 24 | $73.0M | — |
自由现金流率TNETWTRG
| 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% | — | ||
| Q1 24 | 5.8% | — |
资本支出强度TNETWTRG
| 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% | — | ||
| Q1 24 | 1.4% | — |
现金转化率TNETWTRG
| Q4 25 | — | 1.55× | ||
| Q3 25 | 2.12× | 2.53× | ||
| Q2 25 | 2.03× | 2.53× | ||
| Q1 25 | 1.12× | 1.06× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | 1.87× | 2.83× | ||
| Q2 24 | 0.65× | 2.46× | ||
| 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% |
WTRG
| Natural Gas | $371.7M | 53% |
| Water | $269.4M | 39% |
| Wastewater | $57.2M | 8% |
| Other | $2.7M | 0% |
