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TRINET GROUP, INC.（TNET）与百胜餐饮集团（YUM）财务数据对比。点击上方公司名可切换其他公司
百胜餐饮集团的季度营收约是TRINET GROUP, INC.的1.6倍（$2.1B vs $1.2B），百胜餐饮集团同比增速更快（15.2% vs -2.2%），过去两年百胜餐饮集团的营收复合增速更高（8.1% 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。
百胜餐饮集团是美国跨国快餐企业，前身为百事可乐1977年收购肯德基、必胜客、塔可贝尔后成立的子公司，1997年从百事可乐分拆独立。目前集团运营肯德基、必胜客、塔可贝尔、哈比特汉堡等知名餐饮品牌，同时持有多家科技公司为业务发展提供支持。
TNET vs YUM — 直观对比
营收规模更大
YUM
是对方的1.6倍
$1.2B
营收增速更快
YUM
高出17.4%
-2.2%
两年增速更快
YUM
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.1B |
| 净利润 | — | $432.0M |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 31.3% |
| 净利率 | — | 21.0% |
| 营收同比 | -2.2% | 15.2% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.02 | $1.55 |
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TNETYUM
| Q1 26 | — | $2.1B | ||
| Q4 25 | $1.2B | $2.5B | ||
| Q3 25 | $1.2B | $2.0B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q4 24 | $1.3B | $2.4B | ||
| Q3 24 | $1.2B | $1.8B | ||
| Q2 24 | $1.2B | $1.8B |
净利润TNETYUM
| Q1 26 | — | $432.0M | ||
| Q4 25 | — | $535.0M | ||
| Q3 25 | $34.0M | $397.0M | ||
| Q2 25 | $37.0M | $374.0M | ||
| Q1 25 | $85.0M | $253.0M | ||
| Q4 24 | — | $423.0M | ||
| Q3 24 | $45.0M | $382.0M | ||
| Q2 24 | $60.0M | $367.0M |
毛利率TNETYUM
| Q1 26 | — | — | ||
| Q4 25 | — | 67.6% | ||
| Q3 25 | — | 70.3% | ||
| Q2 25 | — | 71.0% | ||
| Q1 25 | — | 70.9% | ||
| Q4 24 | — | 69.2% | ||
| Q3 24 | — | 71.4% | ||
| Q2 24 | — | 73.3% |
营业利润率TNETYUM
| Q1 26 | — | 31.3% | ||
| Q4 25 | 0.1% | 29.3% | ||
| Q3 25 | 4.1% | 33.7% | ||
| Q2 25 | 4.1% | 32.2% | ||
| Q1 25 | 8.9% | 30.7% | ||
| Q4 24 | -2.9% | 27.8% | ||
| Q3 24 | 4.7% | 33.9% | ||
| Q2 24 | 6.5% | 34.4% |
净利率TNETYUM
| Q1 26 | — | 21.0% | ||
| Q4 25 | — | 21.3% | ||
| Q3 25 | 2.8% | 20.1% | ||
| Q2 25 | 3.0% | 19.3% | ||
| Q1 25 | 6.6% | 14.2% | ||
| Q4 24 | — | 17.9% | ||
| Q3 24 | 3.6% | 20.9% | ||
| Q2 24 | 4.9% | 20.8% |
每股收益（稀释后）TNETYUM
| Q1 26 | — | $1.55 | ||
| Q4 25 | $0.02 | $1.91 | ||
| Q3 25 | $0.70 | $1.41 | ||
| Q2 25 | $0.77 | $1.33 | ||
| Q1 25 | $1.71 | $0.90 | ||
| Q4 24 | $-0.44 | $1.49 | ||
| Q3 24 | $0.89 | $1.35 | ||
| Q2 24 | $1.20 | $1.28 |
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 | $689.0M |
| 总债务越低越好 | — | $12.0B |
| 股东权益账面价值 | $54.0M | — |
| 总资产 | $3.8B | $8.2B |
| 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TNETYUM
| Q1 26 | — | $689.0M | ||
| Q4 25 | $287.0M | $709.0M | ||
| Q3 25 | $321.0M | $1.0B | ||
| Q2 25 | $407.0M | $677.0M | ||
| Q1 25 | $349.0M | $607.0M | ||
| Q4 24 | $360.0M | $707.0M | ||
| Q3 24 | $301.0M | $548.0M | ||
| Q2 24 | $249.0M | $520.0M |
总债务TNETYUM
| Q1 26 | — | $12.0B | ||
| Q4 25 | — | $11.9B | ||
| Q3 25 | — | $11.5B | ||
| Q2 25 | — | $10.4B | ||
| Q1 25 | — | $11.3B | ||
| Q4 24 | — | $11.3B | ||
| Q3 24 | — | $11.2B | ||
| Q2 24 | — | $11.1B |
股东权益TNETYUM
| Q1 26 | — | — | ||
| Q4 25 | $54.0M | $-7.3B | ||
| Q3 25 | $110.0M | $-7.5B | ||
| Q2 25 | $107.0M | $-7.7B | ||
| Q1 25 | $63.0M | $-7.8B | ||
| Q4 24 | $69.0M | $-7.6B | ||
| Q3 24 | $129.0M | $-7.7B | ||
| Q2 24 | $100.0M | $-7.6B |
总资产TNETYUM
| Q1 26 | — | $8.2B | ||
| Q4 25 | $3.8B | $8.2B | ||
| Q3 25 | $3.4B | $7.2B | ||
| Q2 25 | $3.7B | $6.9B | ||
| Q1 25 | $3.8B | $6.7B | ||
| Q4 24 | $4.1B | $6.7B | ||
| Q3 24 | $3.7B | $6.5B | ||
| Q2 24 | $3.7B | $6.4B |
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 | $416.0M |
| 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% | — |
| 现金转化率经营现金流/净利润 | — | 0.96× |
| 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TNETYUM
| Q1 26 | — | $416.0M | ||
| Q4 25 | $61.0M | $617.0M | ||
| Q3 25 | $72.0M | $543.0M | ||
| Q2 25 | $75.0M | $446.0M | ||
| Q1 25 | $95.0M | $404.0M | ||
| Q4 24 | $65.0M | $513.0M | ||
| Q3 24 | $84.0M | $471.0M | ||
| Q2 24 | $39.0M | $342.0M |
自由现金流TNETYUM
| Q1 26 | — | — | ||
| Q4 25 | $43.0M | $482.0M | ||
| Q3 25 | $55.0M | $449.0M | ||
| Q2 25 | $57.0M | $375.0M | ||
| Q1 25 | $79.0M | $333.0M | ||
| Q4 24 | $47.0M | $407.0M | ||
| Q3 24 | $59.0M | $419.0M | ||
| Q2 24 | $22.0M | $292.0M |
自由现金流率TNETYUM
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 19.2% | ||
| Q3 25 | 4.5% | 22.7% | ||
| Q2 25 | 4.6% | 19.4% | ||
| Q1 25 | 6.1% | 18.6% | ||
| Q4 24 | 3.7% | 17.2% | ||
| Q3 24 | 4.8% | 22.9% | ||
| Q2 24 | 1.8% | 16.6% |
资本支出强度TNETYUM
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 5.4% | ||
| Q3 25 | 1.4% | 4.7% | ||
| Q2 25 | 1.5% | 3.7% | ||
| Q1 25 | 1.2% | 4.0% | ||
| Q4 24 | 1.4% | 4.5% | ||
| Q3 24 | 2.0% | 2.8% | ||
| Q2 24 | 1.4% | 2.8% |
现金转化率TNETYUM
| Q1 26 | — | 0.96× | ||
| Q4 25 | — | 1.15× | ||
| Q3 25 | 2.12× | 1.37× | ||
| Q2 25 | 2.03× | 1.19× | ||
| Q1 25 | 1.12× | 1.60× | ||
| Q4 24 | — | 1.21× | ||
| Q3 24 | 1.87× | 1.23× | ||
| Q2 24 | 0.65× | 0.93× |
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% |
YUM
| Franchise and property revenues | $856.0M | 42% |
| Company sales | $785.0M | 38% |
| Franchise contributions for advertising and other services | $418.0M | 20% |
