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TRINET GROUP, INC.（TNET）与沃茨水工业（WTS）财务数据对比。点击上方公司名可切换其他公司
TRINET GROUP, INC.的季度营收约是沃茨水工业的2.0倍（$1.2B vs $625.1M），沃茨水工业同比增速更快（15.7% vs -2.2%），沃茨水工业自由现金流更多（$140.3M vs $43.0M），过去两年沃茨水工业的营收复合增速更高（4.6% 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。
沃茨水工业旗下AERCO是暖通管道领域的商用冷凝锅炉、高效热水设备及能量回收系统供应商，服务覆盖教育、住宿、政府、办公楼、医疗、工业、多户型住宅等多元市场，1949年推出行业首款半即热式无罐蒸汽热水器，1988年推出首款冷凝全调制设备。
TNET vs WTS — 直观对比
营收规模更大
TNET
是对方的2.0倍
$625.1M
营收增速更快
WTS
高出17.9%
-2.2%
自由现金流更多
WTS
多$97.3M
$43.0M
两年增速更快
WTS
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $625.1M |
| 净利润 | — | $83.7M |
| 毛利率 | — | 49.5% |
| 营业利润率 | 0.1% | 18.2% |
| 净利率 | — | 13.4% |
| 营收同比 | -2.2% | 15.7% |
| 净利润同比 | — | 24.0% |
| 每股收益（稀释后） | $0.02 | $2.50 |
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TNETWTS
| Q4 25 | $1.2B | $625.1M | ||
| Q3 25 | $1.2B | $611.7M | ||
| Q2 25 | $1.2B | $643.7M | ||
| Q1 25 | $1.3B | $558.0M | ||
| Q4 24 | $1.3B | $540.4M | ||
| Q3 24 | $1.2B | $543.6M | ||
| Q2 24 | $1.2B | $597.3M | ||
| Q1 24 | $1.3B | $570.9M |
净利润TNETWTS
| Q4 25 | — | $83.7M | ||
| Q3 25 | $34.0M | $82.2M | ||
| Q2 25 | $37.0M | $100.9M | ||
| Q1 25 | $85.0M | $74.0M | ||
| Q4 24 | — | $67.5M | ||
| Q3 24 | $45.0M | $69.1M | ||
| Q2 24 | $60.0M | $82.0M | ||
| Q1 24 | $91.0M | $72.6M |
毛利率TNETWTS
| Q4 25 | — | 49.5% | ||
| Q3 25 | — | 48.8% | ||
| Q2 25 | — | 50.6% | ||
| Q1 25 | — | 48.8% | ||
| Q4 24 | — | 46.7% | ||
| Q3 24 | — | 47.3% | ||
| Q2 24 | — | 47.7% | ||
| Q1 24 | — | 46.9% |
营业利润率TNETWTS
| Q4 25 | 0.1% | 18.2% | ||
| Q3 25 | 4.1% | 18.2% | ||
| Q2 25 | 4.1% | 21.0% | ||
| Q1 25 | 8.9% | 15.7% | ||
| Q4 24 | -2.9% | 16.5% | ||
| Q3 24 | 4.7% | 17.1% | ||
| Q2 24 | 6.5% | 18.7% | ||
| Q1 24 | 9.7% | 16.9% |
净利率TNETWTS
| Q4 25 | — | 13.4% | ||
| Q3 25 | 2.8% | 13.4% | ||
| Q2 25 | 3.0% | 15.7% | ||
| Q1 25 | 6.6% | 13.3% | ||
| Q4 24 | — | 12.5% | ||
| Q3 24 | 3.6% | 12.7% | ||
| Q2 24 | 4.9% | 13.7% | ||
| Q1 24 | 7.2% | 12.7% |
每股收益（稀释后）TNETWTS
| Q4 25 | $0.02 | $2.50 | ||
| Q3 25 | $0.70 | $2.45 | ||
| Q2 25 | $0.77 | $3.01 | ||
| Q1 25 | $1.71 | $2.21 | ||
| Q4 24 | $-0.44 | $2.02 | ||
| Q3 24 | $0.89 | $2.06 | ||
| Q2 24 | $1.20 | $2.44 | ||
| Q1 24 | $1.78 | $2.17 |
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 | $405.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $54.0M | $2.0B |
| 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TNETWTS
| Q4 25 | $287.0M | $405.5M | ||
| Q3 25 | $321.0M | $457.7M | ||
| Q2 25 | $407.0M | $369.3M | ||
| Q1 25 | $349.0M | $336.8M | ||
| Q4 24 | $360.0M | $386.9M | ||
| Q3 24 | $301.0M | $303.9M | ||
| Q2 24 | $249.0M | $279.4M | ||
| Q1 24 | $383.0M | $237.1M |
股东权益TNETWTS
| Q4 25 | $54.0M | $2.0B | ||
| Q3 25 | $110.0M | $2.0B | ||
| Q2 25 | $107.0M | $1.9B | ||
| Q1 25 | $63.0M | $1.8B | ||
| Q4 24 | $69.0M | $1.7B | ||
| Q3 24 | $129.0M | $1.7B | ||
| Q2 24 | $100.0M | $1.6B | ||
| Q1 24 | $143.0M | $1.6B |
总资产TNETWTS
| Q4 25 | $3.8B | $2.9B | ||
| Q3 25 | $3.4B | $2.7B | ||
| Q2 25 | $3.7B | $2.6B | ||
| Q1 25 | $3.8B | $2.5B | ||
| Q4 24 | $4.1B | $2.4B | ||
| Q3 24 | $3.7B | $2.4B | ||
| Q2 24 | $3.7B | $2.4B | ||
| Q1 24 | $4.0B | $2.3B |
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 | $154.7M |
| 自由现金流经营现金流 - 资本支出 | $43.0M | $140.3M |
| 自由现金流率自由现金流/营收 | 3.4% | 22.4% |
| 资本支出强度资本支出/营收 | 1.4% | 2.3% |
| 现金转化率经营现金流/净利润 | — | 1.85× |
| 过去12个月自由现金流最近4个季度 | $234.0M | $356.3M |
8季度趋势，按日历期对齐
经营现金流TNETWTS
| Q4 25 | $61.0M | $154.7M | ||
| Q3 25 | $72.0M | $122.4M | ||
| Q2 25 | $75.0M | $69.7M | ||
| Q1 25 | $95.0M | $55.2M | ||
| Q4 24 | $65.0M | $139.5M | ||
| Q3 24 | $84.0M | $90.7M | ||
| Q2 24 | $39.0M | $85.3M | ||
| Q1 24 | $91.0M | $45.6M |
自由现金流TNETWTS
| Q4 25 | $43.0M | $140.3M | ||
| Q3 25 | $55.0M | $110.9M | ||
| Q2 25 | $57.0M | $59.5M | ||
| Q1 25 | $79.0M | $45.6M | ||
| Q4 24 | $47.0M | $127.5M | ||
| Q3 24 | $59.0M | $84.3M | ||
| Q2 24 | $22.0M | $78.5M | ||
| Q1 24 | $73.0M | $35.5M |
自由现金流率TNETWTS
| Q4 25 | 3.4% | 22.4% | ||
| Q3 25 | 4.5% | 18.1% | ||
| Q2 25 | 4.6% | 9.2% | ||
| Q1 25 | 6.1% | 8.2% | ||
| Q4 24 | 3.7% | 23.6% | ||
| Q3 24 | 4.8% | 15.5% | ||
| Q2 24 | 1.8% | 13.1% | ||
| Q1 24 | 5.8% | 6.2% |
资本支出强度TNETWTS
| Q4 25 | 1.4% | 2.3% | ||
| Q3 25 | 1.4% | 1.9% | ||
| Q2 25 | 1.5% | 1.6% | ||
| Q1 25 | 1.2% | 1.7% | ||
| Q4 24 | 1.4% | 2.2% | ||
| Q3 24 | 2.0% | 1.2% | ||
| Q2 24 | 1.4% | 1.1% | ||
| Q1 24 | 1.4% | 1.8% |
现金转化率TNETWTS
| Q4 25 | — | 1.85× | ||
| Q3 25 | 2.12× | 1.49× | ||
| Q2 25 | 2.03× | 0.69× | ||
| Q1 25 | 1.12× | 0.75× | ||
| Q4 24 | — | 2.07× | ||
| Q3 24 | 1.87× | 1.31× | ||
| Q2 24 | 0.65× | 1.04× | ||
| Q1 24 | 1.00× | 0.63× |
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% |
WTS
暂无分部数据
