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TRINET GROUP, INC.（TNET）与捷迈邦美（ZBH）财务数据对比。点击上方公司名可切换其他公司
捷迈邦美的季度营收约是TRINET GROUP, INC.的1.7倍（$2.1B vs $1.2B），捷迈邦美同比增速更快（9.3% vs -2.2%），捷迈邦美自由现金流更多（$245.9M vs $43.0M），过去两年捷迈邦美的营收复合增速更高（3.7% 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。
捷迈邦美是一家美国上市的医疗设备企业，1927年成立，最初以生产铝制夹板为核心业务，总部设于印第安纳州华沙市，是当地医疗设备产业集群的核心成员，在全球骨科医疗器械领域拥有较高知名度。
TNET vs ZBH — 直观对比
营收规模更大
ZBH
是对方的1.7倍
$1.2B
营收增速更快
ZBH
高出11.5%
-2.2%
自由现金流更多
ZBH
多$202.9M
$43.0M
两年增速更快
ZBH
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 | — | $238.3M |
| 毛利率 | — | 64.6% |
| 营业利润率 | 0.1% | 17.9% |
| 净利率 | — | 11.4% |
| 营收同比 | -2.2% | 9.3% |
| 净利润同比 | — | 30.5% |
| 每股收益（稀释后） | $0.02 | $1.22 |
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TNETZBH
| Q1 26 | — | $2.1B | ||
| Q4 25 | $1.2B | $2.2B | ||
| Q3 25 | $1.2B | $2.0B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $1.3B | $1.9B | ||
| Q4 24 | $1.3B | $2.0B | ||
| Q3 24 | $1.2B | $1.8B | ||
| Q2 24 | $1.2B | $1.9B |
净利润TNETZBH
| Q1 26 | — | $238.3M | ||
| Q4 25 | — | $139.4M | ||
| Q3 25 | $34.0M | $230.9M | ||
| Q2 25 | $37.0M | $152.8M | ||
| Q1 25 | $85.0M | $182.0M | ||
| Q4 24 | — | $239.5M | ||
| Q3 24 | $45.0M | $249.1M | ||
| Q2 24 | $60.0M | $242.8M |
毛利率TNETZBH
| Q1 26 | — | 64.6% | ||
| Q4 25 | — | 64.7% | ||
| Q3 25 | — | 72.1% | ||
| Q2 25 | — | 71.5% | ||
| Q1 25 | — | 71.2% | ||
| Q4 24 | — | 71.0% | ||
| Q3 24 | — | 70.5% | ||
| Q2 24 | — | 71.5% |
营业利润率TNETZBH
| Q1 26 | — | 17.9% | ||
| Q4 25 | 0.1% | 6.9% | ||
| Q3 25 | 4.1% | 17.6% | ||
| Q2 25 | 4.1% | 14.4% | ||
| Q1 25 | 8.9% | 15.3% | ||
| Q4 24 | -2.9% | 19.2% | ||
| Q3 24 | 4.7% | 15.3% | ||
| Q2 24 | 6.5% | 18.1% |
净利率TNETZBH
| Q1 26 | — | 11.4% | ||
| Q4 25 | — | 6.2% | ||
| Q3 25 | 2.8% | 11.5% | ||
| Q2 25 | 3.0% | 7.4% | ||
| Q1 25 | 6.6% | 9.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | 3.6% | 13.7% | ||
| Q2 24 | 4.9% | 12.5% |
每股收益（稀释后）TNETZBH
| Q1 26 | — | $1.22 | ||
| Q4 25 | $0.02 | $0.71 | ||
| Q3 25 | $0.70 | $1.16 | ||
| Q2 25 | $0.77 | $0.77 | ||
| Q1 25 | $1.71 | $0.91 | ||
| Q4 24 | $-0.44 | $1.18 | ||
| Q3 24 | $0.89 | $1.23 | ||
| Q2 24 | $1.20 | $1.18 |
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 | $424.2M |
| 总债务越低越好 | — | $7.5B |
| 股东权益账面价值 | $54.0M | $12.7B |
| 总资产 | $3.8B | $22.7B |
| 负债/权益比越低杠杆越低 | — | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资TNETZBH
| Q1 26 | — | $424.2M | ||
| Q4 25 | $287.0M | $591.9M | ||
| Q3 25 | $321.0M | $1.3B | ||
| Q2 25 | $407.0M | $556.9M | ||
| Q1 25 | $349.0M | $1.4B | ||
| Q4 24 | $360.0M | $525.5M | ||
| Q3 24 | $301.0M | $569.0M | ||
| Q2 24 | $249.0M | $420.1M |
总债务TNETZBH
| Q1 26 | — | $7.5B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益TNETZBH
| Q1 26 | — | $12.7B | ||
| Q4 25 | $54.0M | $12.7B | ||
| Q3 25 | $110.0M | $12.8B | ||
| Q2 25 | $107.0M | $12.5B | ||
| Q1 25 | $63.0M | $12.4B | ||
| Q4 24 | $69.0M | $12.5B | ||
| Q3 24 | $129.0M | $12.4B | ||
| Q2 24 | $100.0M | $12.7B |
总资产TNETZBH
| Q1 26 | — | $22.7B | ||
| Q4 25 | $3.8B | $23.1B | ||
| Q3 25 | $3.4B | $23.5B | ||
| Q2 25 | $3.7B | $22.9B | ||
| Q1 25 | $3.8B | $22.2B | ||
| Q4 24 | $4.1B | $21.4B | ||
| Q3 24 | $3.7B | $21.7B | ||
| Q2 24 | $3.7B | $21.5B |
负债/权益比TNETZBH
| Q1 26 | — | 0.59× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $359.4M |
| 自由现金流经营现金流 - 资本支出 | $43.0M | $245.9M |
| 自由现金流率自由现金流/营收 | 3.4% | 11.8% |
| 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 | — | 1.51× |
| 过去12个月自由现金流最近4个季度 | $234.0M | $1.4B |
8季度趋势，按日历期对齐
经营现金流TNETZBH
| Q1 26 | — | $359.4M | ||
| Q4 25 | $61.0M | $517.4M | ||
| Q3 25 | $72.0M | $418.7M | ||
| Q2 25 | $75.0M | $378.2M | ||
| Q1 25 | $95.0M | $382.8M | ||
| Q4 24 | $65.0M | $506.3M | ||
| Q3 24 | $84.0M | $395.7M | ||
| Q2 24 | $39.0M | $369.4M |
自由现金流TNETZBH
| Q1 26 | — | $245.9M | ||
| Q4 25 | $43.0M | $442.6M | ||
| Q3 25 | $55.0M | $363.7M | ||
| Q2 25 | $57.0M | $328.1M | ||
| Q1 25 | $79.0M | $338.2M | ||
| Q4 24 | $47.0M | $454.8M | ||
| Q3 24 | $59.0M | $351.2M | ||
| Q2 24 | $22.0M | $316.7M |
自由现金流率TNETZBH
| Q1 26 | — | 11.8% | ||
| Q4 25 | 3.4% | 19.7% | ||
| Q3 25 | 4.5% | 18.2% | ||
| Q2 25 | 4.6% | 15.8% | ||
| Q1 25 | 6.1% | 17.7% | ||
| Q4 24 | 3.7% | 22.5% | ||
| Q3 24 | 4.8% | 19.3% | ||
| Q2 24 | 1.8% | 16.3% |
资本支出强度TNETZBH
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 3.3% | ||
| Q3 25 | 1.4% | 2.7% | ||
| Q2 25 | 1.5% | 2.4% | ||
| Q1 25 | 1.2% | 2.3% | ||
| Q4 24 | 1.4% | 2.5% | ||
| Q3 24 | 2.0% | 2.4% | ||
| Q2 24 | 1.4% | 2.7% |
现金转化率TNETZBH
| Q1 26 | — | 1.51× | ||
| Q4 25 | — | 3.71× | ||
| Q3 25 | 2.12× | 1.81× | ||
| Q2 25 | 2.03× | 2.48× | ||
| Q1 25 | 1.12× | 2.10× | ||
| Q4 24 | — | 2.11× | ||
| Q3 24 | 1.87× | 1.59× | ||
| Q2 24 | 0.65× | 1.52× |
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% |
ZBH
暂无分部数据
