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TRINET GROUP, INC.（TNET）与永利度假村（WYNN）财务数据对比。点击上方公司名可切换其他公司
永利度假村的季度营收约是TRINET GROUP, INC.的1.5倍（$1.9B vs $1.2B），永利度假村同比增速更快（1.5% vs -2.2%），永利度假村自由现金流更多（$306.8M vs $43.0M），过去两年永利度假村的营收复合增速更高（0.1% 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。
永利度假村是总部位于美国内华达州帕拉代斯的上市企业，专注于高端酒店及博彩度假村的开发与运营。公司2002年由前梦幻度假村董事长兼首席执行官史蒂夫·永利创立，现任首席执行官为克雷格·比林斯，截至2020年已在全球布局6处优质物业。
TNET vs WYNN — 直观对比
营收规模更大
WYNN
是对方的1.5倍
$1.2B
营收增速更快
WYNN
高出3.7%
-2.2%
自由现金流更多
WYNN
多$263.8M
$43.0M
两年增速更快
WYNN
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.9B |
| 净利润 | — | $100.0M |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 14.7% |
| 净利率 | — | 5.4% |
| 营收同比 | -2.2% | 1.5% |
| 净利润同比 | — | -63.9% |
| 每股收益（稀释后） | $0.02 | $0.96 |
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TNETWYNN
| Q4 25 | $1.2B | $1.9B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.2B | $1.7B | ||
| Q2 24 | $1.2B | $1.7B | ||
| Q1 24 | $1.3B | $1.9B |
净利润TNETWYNN
| Q4 25 | — | $100.0M | ||
| Q3 25 | $34.0M | $88.3M | ||
| Q2 25 | $37.0M | $66.2M | ||
| Q1 25 | $85.0M | $72.7M | ||
| Q4 24 | — | $277.0M | ||
| Q3 24 | $45.0M | $-32.1M | ||
| Q2 24 | $60.0M | $111.9M | ||
| Q1 24 | $91.0M | $144.2M |
营业利润率TNETWYNN
| Q4 25 | 0.1% | 14.7% | ||
| Q3 25 | 4.1% | 16.9% | ||
| Q2 25 | 4.1% | 15.2% | ||
| Q1 25 | 8.9% | 15.8% | ||
| Q4 24 | -2.9% | 20.0% | ||
| Q3 24 | 4.7% | 7.9% | ||
| Q2 24 | 6.5% | 15.6% | ||
| Q1 24 | 9.7% | 19.5% |
净利率TNETWYNN
| Q4 25 | — | 5.4% | ||
| Q3 25 | 2.8% | 4.8% | ||
| Q2 25 | 3.0% | 3.8% | ||
| Q1 25 | 6.6% | 4.3% | ||
| Q4 24 | — | 15.1% | ||
| Q3 24 | 3.6% | -1.9% | ||
| Q2 24 | 4.9% | 6.5% | ||
| Q1 24 | 7.2% | 7.7% |
每股收益（稀释后）TNETWYNN
| Q4 25 | $0.02 | $0.96 | ||
| Q3 25 | $0.70 | $0.85 | ||
| Q2 25 | $0.77 | $0.64 | ||
| Q1 25 | $1.71 | $0.69 | ||
| Q4 24 | $-0.44 | $2.43 | ||
| Q3 24 | $0.89 | $-0.29 | ||
| Q2 24 | $1.20 | $0.91 | ||
| Q1 24 | $1.78 | $1.30 |
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 | $1.5B |
| 总债务越低越好 | — | $10.5B |
| 股东权益账面价值 | $54.0M | $-275.5M |
| 总资产 | $3.8B | $13.1B |
| 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TNETWYNN
| Q4 25 | $287.0M | $1.5B | ||
| Q3 25 | $321.0M | $1.5B | ||
| Q2 25 | $407.0M | $2.0B | ||
| Q1 25 | $349.0M | $2.1B | ||
| Q4 24 | $360.0M | $2.4B | ||
| Q3 24 | $301.0M | $2.4B | ||
| Q2 24 | $249.0M | $2.4B | ||
| Q1 24 | $383.0M | $2.4B |
总债务TNETWYNN
| Q4 25 | — | $10.5B | ||
| Q3 25 | — | $10.6B | ||
| Q2 25 | — | $10.5B | ||
| Q1 25 | — | $10.6B | ||
| Q4 24 | — | $10.5B | ||
| Q3 24 | — | $11.8B | ||
| Q2 24 | — | $11.0B | ||
| Q1 24 | — | $11.2B |
股东权益TNETWYNN
| Q4 25 | $54.0M | $-275.5M | ||
| Q3 25 | $110.0M | $-370.0M | ||
| Q2 25 | $107.0M | $-441.5M | ||
| Q1 25 | $63.0M | $-360.7M | ||
| Q4 24 | $69.0M | $-224.2M | ||
| Q3 24 | $129.0M | $-281.4M | ||
| Q2 24 | $100.0M | $-109.8M | ||
| Q1 24 | $143.0M | $-137.0M |
总资产TNETWYNN
| Q4 25 | $3.8B | $13.1B | ||
| Q3 25 | $3.4B | $12.8B | ||
| Q2 25 | $3.7B | $12.7B | ||
| Q1 25 | $3.8B | $12.7B | ||
| Q4 24 | $4.1B | $13.0B | ||
| Q3 24 | $3.7B | $14.1B | ||
| Q2 24 | $3.7B | $13.3B | ||
| Q1 24 | $4.0B | $13.5B |
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 | $478.0M |
| 自由现金流经营现金流 - 资本支出 | $43.0M | $306.8M |
| 自由现金流率自由现金流/营收 | 3.4% | 16.4% |
| 资本支出强度资本支出/营收 | 1.4% | 9.2% |
| 现金转化率经营现金流/净利润 | — | 4.78× |
| 过去12个月自由现金流最近4个季度 | $234.0M | $692.2M |
8季度趋势，按日历期对齐
经营现金流TNETWYNN
| Q4 25 | $61.0M | $478.0M | ||
| Q3 25 | $72.0M | $335.8M | ||
| Q2 25 | $75.0M | $405.1M | ||
| Q1 25 | $95.0M | $133.8M | ||
| Q4 24 | $65.0M | $479.0M | ||
| Q3 24 | $84.0M | $279.3M | ||
| Q2 24 | $39.0M | $352.8M | ||
| Q1 24 | $91.0M | $315.1M |
自由现金流TNETWYNN
| Q4 25 | $43.0M | $306.8M | ||
| Q3 25 | $55.0M | $171.8M | ||
| Q2 25 | $57.0M | $239.8M | ||
| Q1 25 | $79.0M | $-26.2M | ||
| Q4 24 | $47.0M | $351.8M | ||
| Q3 24 | $59.0M | $178.0M | ||
| Q2 24 | $22.0M | $259.1M | ||
| Q1 24 | $73.0M | $217.4M |
自由现金流率TNETWYNN
| Q4 25 | 3.4% | 16.4% | ||
| Q3 25 | 4.5% | 9.4% | ||
| Q2 25 | 4.6% | 13.8% | ||
| Q1 25 | 6.1% | -1.5% | ||
| Q4 24 | 3.7% | 19.1% | ||
| Q3 24 | 4.8% | 10.5% | ||
| Q2 24 | 1.8% | 15.0% | ||
| Q1 24 | 5.8% | 11.7% |
资本支出强度TNETWYNN
| Q4 25 | 1.4% | 9.2% | ||
| Q3 25 | 1.4% | 8.9% | ||
| Q2 25 | 1.5% | 9.5% | ||
| Q1 25 | 1.2% | 9.4% | ||
| Q4 24 | 1.4% | 6.9% | ||
| Q3 24 | 2.0% | 6.0% | ||
| Q2 24 | 1.4% | 5.4% | ||
| Q1 24 | 1.4% | 5.2% |
现金转化率TNETWYNN
| Q4 25 | — | 4.78× | ||
| Q3 25 | 2.12× | 3.80× | ||
| Q2 25 | 2.03× | 6.12× | ||
| Q1 25 | 1.12× | 1.84× | ||
| Q4 24 | — | 1.73× | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 0.65× | 3.15× | ||
| Q1 24 | 1.00× | 2.18× |
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% |
WYNN
| Casino | $1.1B | 61% |
| Occupancy | $305.1M | 16% |
| Food And Beverage | $264.9M | 14% |
| Entertainment Retail And Other | $152.6M | 8% |
