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TRINET GROUP, INC.（TNET）与惠好（WY）财务数据对比。点击上方公司名可切换其他公司
惠好的季度营收约是TRINET GROUP, INC.的1.4倍（$1.7B vs $1.2B），惠好同比增速更快（12.1% vs -2.2%），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% vs -5.6%）
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。
惠好是美国知名林地运营企业，在美国本土持有约1040万英亩林地，同时通过长期许可协议在加拿大管理额外1400万英亩林地。企业拥有逾百年木制品生产历史，目前以房地产投资信托（REIT）模式运营。
TNET vs WY — 直观对比
营收规模更大
WY
是对方的1.4倍
$1.2B
营收增速更快
WY
高出14.3%
-2.2%
两年增速更快
TNET
近两年复合增速
-5.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.7B |
| 净利润 | — | $156.0M |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 14.3% |
| 净利率 | — | 9.0% |
| 营收同比 | -2.2% | 12.1% |
| 净利润同比 | — | 110.8% |
| 每股收益（稀释后） | $0.02 | $0.22 |
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TNETWY
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.2B | $1.7B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.2B | $1.7B | ||
| Q2 24 | $1.2B | $1.9B |
净利润TNETWY
| Q1 26 | — | $156.0M | ||
| Q4 25 | — | $74.0M | ||
| Q3 25 | $34.0M | $80.0M | ||
| Q2 25 | $37.0M | $87.0M | ||
| Q1 25 | $85.0M | $83.0M | ||
| Q4 24 | — | $81.0M | ||
| Q3 24 | $45.0M | $28.0M | ||
| Q2 24 | $60.0M | $173.0M |
毛利率TNETWY
| Q1 26 | — | — | ||
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | 11.9% | ||
| Q2 25 | — | 17.3% | ||
| Q1 25 | — | 19.0% | ||
| Q4 24 | — | 17.8% | ||
| Q3 24 | — | 14.9% | ||
| Q2 24 | — | 20.8% |
营业利润率TNETWY
| Q1 26 | — | 14.3% | ||
| Q4 25 | 0.1% | 16.3% | ||
| Q3 25 | 4.1% | 7.2% | ||
| Q2 25 | 4.1% | 9.4% | ||
| Q1 25 | 8.9% | 10.2% | ||
| Q4 24 | -2.9% | 8.3% | ||
| Q3 24 | 4.7% | 4.6% | ||
| Q2 24 | 6.5% | 13.9% |
净利率TNETWY
| Q1 26 | — | 9.0% | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | 2.8% | 4.7% | ||
| Q2 25 | 3.0% | 4.6% | ||
| Q1 25 | 6.6% | 4.7% | ||
| Q4 24 | — | 4.7% | ||
| Q3 24 | 3.6% | 1.7% | ||
| Q2 24 | 4.9% | 8.9% |
每股收益（稀释后）TNETWY
| Q1 26 | — | $0.22 | ||
| Q4 25 | $0.02 | $0.11 | ||
| Q3 25 | $0.70 | $0.11 | ||
| Q2 25 | $0.77 | $0.12 | ||
| Q1 25 | $1.71 | $0.11 | ||
| Q4 24 | $-0.44 | $0.10 | ||
| Q3 24 | $0.89 | $0.04 | ||
| Q2 24 | $1.20 | $0.24 |
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 | $299.0M |
| 总债务越低越好 | — | $372.0M |
| 股东权益账面价值 | $54.0M | $9.4B |
| 总资产 | $3.8B | $16.4B |
| 负债/权益比越低杠杆越低 | — | 0.04× |
8季度趋势，按日历期对齐
现金及短期投资TNETWY
| Q1 26 | — | $299.0M | ||
| Q4 25 | $287.0M | $464.0M | ||
| Q3 25 | $321.0M | $401.0M | ||
| Q2 25 | $407.0M | $592.0M | ||
| Q1 25 | $349.0M | $560.0M | ||
| Q4 24 | $360.0M | $684.0M | ||
| Q3 24 | $301.0M | $877.0M | ||
| Q2 24 | $249.0M | $997.0M |
总债务TNETWY
| Q1 26 | — | $372.0M | ||
| Q4 25 | — | $5.6B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益TNETWY
| Q1 26 | — | $9.4B | ||
| Q4 25 | $54.0M | $9.4B | ||
| Q3 25 | $110.0M | $9.4B | ||
| Q2 25 | $107.0M | $9.5B | ||
| Q1 25 | $63.0M | $9.6B | ||
| Q4 24 | $69.0M | $9.7B | ||
| Q3 24 | $129.0M | $9.9B | ||
| Q2 24 | $100.0M | $10.0B |
总资产TNETWY
| Q1 26 | — | $16.4B | ||
| Q4 25 | $3.8B | $16.6B | ||
| Q3 25 | $3.4B | $16.7B | ||
| Q2 25 | $3.7B | $16.5B | ||
| Q1 25 | $3.8B | $16.5B | ||
| Q4 24 | $4.1B | $16.5B | ||
| Q3 24 | $3.7B | $16.7B | ||
| Q2 24 | $3.7B | $16.8B |
负债/权益比TNETWY
| Q1 26 | — | 0.04× | ||
| Q4 25 | — | 0.59× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | — | ||
| 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 | — |
| 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% | 0.0% |
| 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TNETWY
| Q1 26 | — | — | ||
| Q4 25 | $61.0M | $-114.0M | ||
| Q3 25 | $72.0M | $210.0M | ||
| Q2 25 | $75.0M | $396.0M | ||
| Q1 25 | $95.0M | $70.0M | ||
| Q4 24 | $65.0M | $218.0M | ||
| Q3 24 | $84.0M | $234.0M | ||
| Q2 24 | $39.0M | $432.0M |
自由现金流TNETWY
| Q1 26 | — | — | ||
| Q4 25 | $43.0M | $-128.0M | ||
| Q3 25 | $55.0M | $203.0M | ||
| Q2 25 | $57.0M | $388.0M | ||
| Q1 25 | $79.0M | $48.0M | ||
| Q4 24 | $47.0M | $205.0M | ||
| Q3 24 | $59.0M | $226.0M | ||
| Q2 24 | $22.0M | $423.0M |
自由现金流率TNETWY
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | -8.3% | ||
| Q3 25 | 4.5% | 11.8% | ||
| Q2 25 | 4.6% | 20.6% | ||
| Q1 25 | 6.1% | 2.7% | ||
| Q4 24 | 3.7% | 12.0% | ||
| Q3 24 | 4.8% | 13.4% | ||
| Q2 24 | 1.8% | 21.8% |
资本支出强度TNETWY
| Q1 26 | — | 0.0% | ||
| Q4 25 | 1.4% | 0.9% | ||
| Q3 25 | 1.4% | 0.4% | ||
| Q2 25 | 1.5% | 0.4% | ||
| Q1 25 | 1.2% | 1.2% | ||
| Q4 24 | 1.4% | 0.8% | ||
| Q3 24 | 2.0% | 0.5% | ||
| Q2 24 | 1.4% | 0.5% |
现金转化率TNETWY
| Q1 26 | — | — | ||
| Q4 25 | — | -1.54× | ||
| Q3 25 | 2.12× | 2.63× | ||
| Q2 25 | 2.03× | 4.55× | ||
| Q1 25 | 1.12× | 0.84× | ||
| Q4 24 | — | 2.69× | ||
| Q3 24 | 1.87× | 8.36× | ||
| Q2 24 | 0.65× | 2.50× |
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% |
WY
暂无分部数据
