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TriNet Group (TNET) Financials

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$67.12 -0.23 (-0.34%)
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Annual Income Statements for TriNet Group

Annual Income Statements for TriNet Group

This table shows TriNet Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 32 61 178 192 212 272 338 355 375 173 155
Consolidated Net Income / (Loss)		 32 61 178 192 212 272 338 355 375 173 155
Net Income / (Loss) Continuing Operations		 32 61 178 192 212 272 338 355 375 173 155
Total Pre-Tax Income 		60 104 200 241 270 357 441 482 501 226 217
Total Operating Income		 78 124 217 251 268 368 455 521 541 288 273
Total Gross Profit		 2,480 2,870 3,062 3,274 3,611 3,772 4,276 4,604 4,687 4,749 4,721
Total Revenue		 2,659 3,060 3,275 3,503 3,856 4,034 4,540 4,907 4,994 5,053 5,010
Operating Revenue		 2,659 3,060 3,275 3,503 3,856 4,034 4,540 4,907 4,994 5,053 5,010
Total Cost of Revenue		 179 190 213 229 245 262 264 303 307 304 289
Operating Cost of Revenue		 179 190 213 229 245 262 264 303 307 304 289
Total Operating Expenses		 2,402 2,746 2,845 3,023 3,343 3,404 3,821 4,083 4,146 4,461 4,448
Selling, General & Admin Expense		 69 92 114 142 137 152 176 241 211 232 207
Marketing Expense		 2,279 2,588 2,653 2,792 3,117 3,165 3,541 3,705 3,798 4,086 4,104
Research & Development Expense		 - 31 45 49 43 40 50 73 65 68 71
Depreciation Expense		 15 35 33 40 46 47 54 64 72 75 66
Total Other Income / (Expense), net		 -18 -20 -17 -10 2.00 -11 -14 -39 -40 -62 -56
Interest Expense		 19 20 20 22 21 21 20 39 40 62 56
Income Tax Expense		 28 43 22 49 58 85 103 127 126 53 62
Basic Earnings per Share		 $0.45 $0.88 $2.57 $2.72 $3.04 $4.03 $5.13 $5.66 $6.61 $3.47 $3.20
Weighted Average Basic Shares Outstanding		 70.23M 70.16M 69M 70M 70M 67M 66M 63M 57M 50M 48M
Diluted Earnings per Share		 $0.44 $0.85 $2.49 $2.65 $2.99 $3.99 $5.07 $5.61 $6.56 $3.43 $3.20
Weighted Average Diluted Shares Outstanding		 72.62M 71.97M 71M 72M 71M 68M 67M 64M 57M 50M 49M
Weighted Average Basic & Diluted Shares Outstanding		 70.40M 69.30M 69.30M 80M 68.75M 65.99M 65.70M 59.98M 50.57M 49.53M 47.30M
Cash Dividends to Common per Share		 - - - - - - - - $0.00 $0.25 $0.28

Quarterly Income Statements for TriNet Group

This table shows TriNet Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 67 91 60 45 -23 85 37 34 -1.00 89 53
Consolidated Net Income / (Loss)		 67 91 60 45 -23 85 37 34 -1.00 89 53
Net Income / (Loss) Continuing Operations		 67 91 60 45 -23 85 37 34 -1.00 89 53
Total Pre-Tax Income 		86 124 81 58 -37 115 51 50 1.00 123 74
Total Operating Income		 159 124 81 58 28 115 51 50 57 123 74
Total Gross Profit		 1,241 1,203 1,168 1,178 1,250 1,221 1,167 1,159 1,174 1,156 1,113
Total Revenue		 1,317 1,282 1,243 1,252 1,326 1,292 1,238 1,232 1,248 1,226 1,178
Operating Revenue		 1,317 1,282 1,243 1,252 1,326 1,292 1,238 1,232 1,248 1,226 1,178
Total Cost of Revenue		 76 79 75 74 76 71 71 73 74 70 65
Operating Cost of Revenue		 76 79 75 74 76 71 71 73 74 70 65
Total Operating Expenses		 1,082 1,079 1,087 1,120 1,222 1,106 1,116 1,109 1,117 1,033 1,039
Selling, General & Admin Expense		 57 48 47 46 91 46 52 51 58 59 56
Marketing Expense		 990 979 988 1,023 1,096 1,009 1,015 1,011 1,069 925 933
Research & Development Expense		 16 18 17 17 16 20 17 18 16 19 17
Depreciation Expense		 19 18 19 19 19 17 17 16 16 17 19
Other Operating Expenses / (Income)		 - 16 16 15 - 14 15 13 - 13 14
Total Other Income / (Expense), net		 -73 0.00 0.00 0.00 -65 0.00 0.00 0.00 -56 0.00 0.00
Income Tax Expense		 19 33 21 13 -14 30 14 16 2.00 34 21
Basic Earnings per Share		 $1.38 $1.80 $1.21 $0.90 ($0.44) $1.72 $0.77 $0.70 $0.01 $1.90 $1.16
Weighted Average Basic Shares Outstanding		 57M 51M 50M 50M 50M 49M 48M 48M 48M 47M 46M
Diluted Earnings per Share		 $1.38 $1.78 $1.20 $0.89 ($0.44) $1.71 $0.77 $0.70 $0.02 $1.90 $1.15
Weighted Average Diluted Shares Outstanding		 57M 51M 51M 50M 50M 49M 49M 48M 49M 47M 46M
Weighted Average Basic & Diluted Shares Outstanding		 50.57M 50.56M 49.67M 49.58M 49.53M 48.40M 48.59M 48.03M 47.30M 45.94M 45.90M

Annual Cash Flow Statements for TriNet Group

This table details how cash moves in and out of TriNet Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 32 61 505 -389 107 187 95 -201 -71 225 211
Net Cash From Operating Activities		 151 192 606 -104 471 546 218 497 539 279 303
Net Cash From Continuing Operating Activities		 151 192 606 -104 471 546 218 497 539 279 303
Net Income / (Loss) Continuing Operations		 32 61 178 192 212 272 338 355 375 173 155
Consolidated Net Income / (Loss)		 32 61 178 192 212 272 338 355 375 173 155
Depreciation Expense		 53 39 35 46 57 67 54 64 72 75 66
Amortization Expense		 - - 0.00 0.00 -1.00 1.00 31 38 40 44 49
Non-Cash Adjustments To Reconcile Net Income		 261 -53 24 30 64 63 -17 98 75 92 64
Changes in Operating Assets and Liabilities, net		 -195 145 369 -372 139 143 -188 -58 -23 -105 -31
Net Cash From Investing Activities		 -38 -27 -24 -200 -188 -151 -135 -226 -70 153 -43
Net Cash From Continuing Investing Activities		 -38 -27 -24 -200 -188 -151 -135 -226 -70 153 -43
Purchase of Property, Plant & Equipment		 -19 -40 -38 -43 -45 -36 -40 -56 -75 -78 -69
Purchase of Investments		 -42 - 0.00 -258 -302 -327 -444 -410 -281 -190 -78
Divestitures		 - - - - - - - - 0.00 0.00 1.00
Sale and/or Maturity of Investments		 28 28 14 101 159 224 349 469 286 421 103
Net Cash From Financing Activities		 -81 -104 -77 -85 -176 -208 12 -471 -540 -207 -49
Net Cash From Continuing Financing Activities		 -81 -104 -77 -85 -176 -208 12 -471 -540 -207 -49
Repayment of Debt		 -45 -95 -38 -226 -22 -22 -379 0.00 -504 -110 -90
Repurchase of Common Equity		 -49 -76 -44 -61 -140 -178 -94 -523 -1,122 -183 -183
Payment of Dividends		 - - - - - - - 0.00 0.00 -37 -52
Issuance of Debt		 0.00 58 0.00 210 0.00 0.00 500 0.00 1,095 0.00 0.00
Issuance of Common Equity		 5.00 9.00 16 14 11 10 11 11 15 12 11
Other Financing Activities, net		 8.00 - -11 -22 -25 -18 -26 41 -24 111 265
Effect of Exchange Rate Changes		 - - - - - 0.00 0.00 -1.00 0.00 0.00 0.00
Cash Interest Paid		 15 15 16 17 19 16 12 18 25 59 52
Cash Income Taxes Paid		 2.00 39 2.00 49 62 123 129 128 114 76 27

Quarterly Cash Flow Statements for TriNet Group

This table details how cash moves in and out of TriNet Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 552 -199 -273 -46 743 -407 142 -80 556 -510 -95
Net Cash From Operating Activities		 582 91 -123 -31 555 95 75 72 61 149 88
Net Cash From Continuing Operating Activities		 582 91 -123 -31 555 95 75 72 61 149 88
Net Income / (Loss) Continuing Operations		 67 91 61 44 -23 85 37 34 -1.00 89 53
Consolidated Net Income / (Loss)		 67 91 61 44 -23 85 37 34 -1.00 89 53
Depreciation Expense		 - 18 - - - 17 16 17 16 17 19
Amortization Expense		 -49 11 29 30 -44 12 11 13 13 13 13
Non-Cash Adjustments To Reconcile Net Income		 164 23 1.00 -521 621 18 16 15 18 17 20
Changes in Operating Assets and Liabilities, net		 328 -52 -214 416 -74 -37 -5.00 -7.00 15 13 -17
Net Cash From Investing Activities		 -13 -47 -2.00 24 178 -8.00 1.00 -20 -16 -13 -71
Net Cash From Continuing Investing Activities		 -13 -47 -2.00 24 178 -8.00 1.00 -20 -16 -13 -71
Purchase of Property, Plant & Equipment		 -21 -18 -17 -25 -18 -16 -18 -17 -18 -26 -21
Purchase of Investments		 -55 -95 -44 -22 -29 -27 -14 -18 -19 -25 -51
Sale and/or Maturity of Investments		 63 66 59 71 225 34 33 15 21 38 23
Net Cash From Financing Activities		 -17 -243 -148 -39 10 -494 66 -132 511 -645 -112
Net Cash From Continuing Financing Activities		 -17 -243 -148 -39 10 -494 66 -132 511 -645 -112
Repurchase of Common Equity		 -13 -23 -112 -20 -28 -90 -1.00 -31 -61 -58 -18
Payment of Dividends		 - 0.00 - -12 -12 -12 -14 -13 -13 -13 -13
Other Financing Activities, net		 -10 -220 -5.00 -6.00 129 -392 74 3.00 580 -574 -86
Cash Interest Paid		 4.00 26 4.00 25 4.00 25 2.00 24 1.00 24 1.00

Annual Balance Sheets for TriNet Group

This table presents TriNet Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 2,092 2,095 2,593 2,435 2,748 3,043 3,309 3,443 3,693 4,119 3,797
Total Current Assets		 1,568 1,535 1,991 1,646 1,871 2,160 2,439 2,326 2,578 3,180 2,868
Cash & Equivalents		 166 184 336 228 213 301 612 354 287 360 287
Restricted Cash		 15 15 1,280 942 1,180 1,388 1,195 1,263 1,269 1,413 1,694
Accounts Receivable		 - - 318 315 294 264 389 394 465 381 284
Prepaid Expenses		 8.58 11 38 48 52 63 67 71 67 64 82
Other Current Assets		 1,375 1,283 19 59 64 87 41 168 425 962 521
Plant, Property, & Equipment, net		 38 59 70 79 85 79 24 24 17 10 11
Total Noncurrent Assets		 486 501 532 710 792 804 846 1,093 1,098 929 918
Long-Term Investments		 102 131 162 322 337 348 334 304 301 145 128
Goodwill		 289 289 289 289 289 294 294 462 462 461 461
Intangible Assets		 47 31 26 21 15 18 61 163 172 156 153
Other Noncurrent Operating Assets		 49 50 55 78 151 144 157 164 163 167 176
Total Liabilities & Shareholders' Equity		 2,092 2,095 2,593 2,435 2,748 3,043 3,309 3,443 3,693 4,119 3,797
Total Liabilities		 2,084 2,060 2,387 2,060 2,273 2,436 2,428 2,668 3,615 4,050 3,743
Total Current Liabilities		 1,456 1,379 1,757 1,425 1,643 1,870 1,739 1,988 2,463 2,981 2,637
Accounts Payable		 13 23 59 45 31 50 86 98 87 89 86
Accrued Expenses		 29 31 480 487 558 481 543 611 690 769 762
Customer Deposits		 - - 52 56 44 134 97 106 65 76 57
Current Employee Benefit Liabilities		 1,369 1,276 67 796 962 1,154 984 1,141 1,488 1,950 1,713
Other Current Liabilities		 11 12 25 19 26 29 29 32 24 22 19
Total Noncurrent Liabilities		 629 681 630 635 630 566 689 680 1,152 1,069 1,106
Long-Term Debt		 461 422 383 391 369 348 495 496 984 908 895
Capital Lease Obligations		 - - - 0.00 48 49 - 41 30 26 37
Noncurrent Deferred & Payable Income Tax Liabilities		 55 92 68 68 61 22 11 8.00 13 11 55
Noncurrent Employee Benefit Liabilities		 105 159 165 158 144 138 135 128 120 110 106
Other Noncurrent Operating Liabilities		 7.55 8.00 14 18 8.00 9.00 48 7.00 5.00 14 13
Commitments & Contingencies		 0.00 0.00 - - - 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 8.08 35 206 375 475 607 881 775 78 69 54
Total Preferred & Common Equity		 8.08 35 206 375 475 607 881 775 78 69 54
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 8.08 35 206 375 475 607 881 775 78 69 54
Common Stock		 494 535 583 641 694 747 808 899 976 1,056 1,135
Retained Earnings		 -486 -500 -377 -266 -219 -144 74 -119 -896 -984 -1,081
Accumulated Other Comprehensive Income / (Loss)		 -0.72 - - - 0.00 4.00 -1.00 -5.00 -2.00 -3.00 0.00

Quarterly Balance Sheets for TriNet Group

This table presents TriNet Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 3,736 3,290 2,966 3,968 3,703 3,729 3,775 3,688 3,425 3,420 3,346
Total Current Assets		 2,629 2,177 1,853 2,840 2,566 2,605 2,857 2,762 2,498 2,484 2,384
Cash & Equivalents		 707 482 170 298 177 251 349 407 321 340 358
Restricted Cash		 1,016 1,074 833 1,059 893 780 1,024 1,101 1,108 1,122 1,039
Accounts Receivable		 386 381 425 478 500 526 499 499 486 458 431
Prepaid Expenses		 85 72 75 79 76 64 60 50 53 64 53
Other Current Assets		 346 99 275 841 848 934 925 705 530 500 503
Plant, Property, & Equipment, net		 31 29 16 15 14 14 9.00 10 11 22 27
Total Noncurrent Assets		 1,076 1,084 1,097 1,113 1,123 1,110 909 916 916 914 935
Long-Term Investments		 297 303 297 313 319 298 134 124 125 122 122
Goodwill		 462 462 462 462 462 462 461 461 461 461 465
Intangible Assets		 155 156 169 174 176 179 146 148 151 155 173
Other Noncurrent Operating Assets		 162 163 169 164 166 171 168 183 179 176 175
Total Liabilities & Shareholders' Equity		 3,736 3,290 2,966 3,968 3,703 3,729 3,775 3,688 3,425 3,420 3,346
Total Liabilities		 2,911 2,375 2,956 3,825 3,603 3,600 3,712 3,581 3,315 3,337 3,221
Total Current Liabilities		 2,235 1,707 1,703 2,669 2,463 2,440 2,646 2,508 2,249 2,226 2,109
Accounts Payable		 130 100 109 122 85 82 82 85 89 89 103
Accrued Expenses		 585 607 641 704 740 759 733 753 746 735 736
Customer Deposits		 131 78 73 51 70 39 49 41 43 49 76
Current Employee Benefit Liabilities		 1,061 897 855 1,662 1,464 1,464 1,690 1,530 1,353 1,333 1,176
Other Current Liabilities		 33 25 25 21 20 21 18 9.00 18 20 18
Total Noncurrent Liabilities		 676 668 1,253 1,156 1,140 1,160 1,066 1,073 1,066 1,111 1,112
Long-Term Debt		 496 496 1,091 984 984 993 909 894 895 896 896
Capital Lease Obligations		 - - - 27 24 30 24 48 38 39 44
Noncurrent Deferred & Payable Income Tax Liabilities		 9.00 7.00 5.00 13 13 18 10 10 9.00 54 54
Noncurrent Employee Benefit Liabilities		 127 122 122 120 107 107 111 109 110 109 104
Other Noncurrent Operating Liabilities		 44 43 35 12 12 12 12 12 14 13 14
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 825 915 10 143 100 129 63 107 110 83 125
Total Preferred & Common Equity		 825 915 10 143 100 129 63 107 110 83 125
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 825 915 10 143 100 129 63 107 110 83 125
Common Stock		 910 934 953 996 1,021 1,037 1,070 1,095 1,112 1,151 1,174
Retained Earnings		 -83 -13 -935 -848 -916 -910 -1,006 -988 -1,002 -1,066 -1,046
Accumulated Other Comprehensive Income / (Loss)		 -2.00 -6.00 -8.00 -5.00 -5.00 2.00 -1.00 0.00 0.00 -2.00 -3.00

Annual Metrics And Ratios for TriNet Group

This table displays calculated financial ratios and metrics derived from TriNet Group's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 21.22% 15.08% 7.03% 6.96% 10.08% 4.62% 12.54% 8.08% 1.77% 1.18% -0.85%
EBITDA Growth		 -23.11% 23.48% 54.60% 17.86% 9.09% 34.57% 23.85% 15.37% 4.82% -37.67% -4.67%
EBIT Growth		 -9.48% 56.96% 75.00% 15.67% 6.77% 37.31% 23.64% 14.51% 3.84% -46.77% -5.21%
NOPAT Growth		 2.30% 74.83% 165.54% 3.54% 5.23% 33.24% 24.38% 10.03% 5.53% -45.56% -11.55%
Net Income Growth		 106.49% 90.63% 191.80% 7.87% 10.42% 28.30% 24.26% 5.03% 5.63% -53.87% -10.40%
EPS Growth		 100.00% 93.18% 192.94% 6.43% 12.83% 33.44% 27.07% 10.65% 16.93% -47.71% -6.71%
Operating Cash Flow Growth		 -0.59% 27.15% 215.63% -117.16% 552.88% 15.92% -60.07% 127.98% 8.45% -48.24% 8.60%
Free Cash Flow Firm Growth		 -12.96% 4.08% 1,074.78% -112.68% 276.11% 38.03% -61.08% -6.64% 161.34% -23.01% 40.81%
Invested Capital Growth		 -27.10% -25.28% -800.61% 34.03% -16.62% -20.81% 15.73% 23.89% -5.26% -16.50% -33.69%
Revenue Q/Q Growth		 4.80% 2.87% 1.15% 2.01% 2.69% 0.00% 0.00% 0.33% 1.86% 1.63% -0.56%
EBITDA Q/Q Growth		 2.54% 8.76% 0.82% -1.33% 11.34% 0.00% 0.00% -0.95% 26.55% 5.44% 8.38%
EBIT Q/Q Growth		 12.79% 11.62% 1.99% -1.95% 8.50% 0.00% 0.00% -2.43% 23.52% -17.00% 13.28%
NOPAT Q/Q Growth		 23.48% 13.41% 30.20% -16.77% 9.47% 0.00% 0.00% -3.74% 24.48% -15.69% 8.90%
Net Income Q/Q Growth		 30.02% 15.44% 32.28% -16.16% 9.84% 0.00% 0.00% -5.84% 5.63% -34.22% 16.54%
EPS Q/Q Growth		 33.33% 16.44% 31.75% -16.67% 10.74% 0.00% 0.00% -3.44% 9.15% -34.67% 16.79%
Operating Cash Flow Q/Q Growth		 -4.44% 50.97% 2,140.47% -138.38% 192.55% -14.95% -61.75% 60.32% 21.67% -10.58% -1.30%
Free Cash Flow Firm Q/Q Growth		 -8.50% 42.41% 573.84% -123.77% 236.33% 0.00% 0.00% 0.00% 61.94% 143.35% -11.16%
Invested Capital Q/Q Growth		 -2.65% -17.82% -1,023.86% -72.67% 0.00% 0.00% 0.00% -109.48% -163.14% -452.63% -119.77%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 93.27% 93.79% 93.50% 93.46% 93.65% 93.51% 94.19% 93.83% 93.85% 93.98% 94.23%
EBITDA Margin		 4.96% 5.33% 7.69% 8.48% 8.40% 10.81% 11.89% 12.70% 13.08% 8.05% 7.74%
Operating Margin		 2.93% 4.05% 6.63% 7.17% 6.95% 9.12% 10.02% 10.62% 10.83% 5.70% 5.45%
EBIT Margin		 2.97% 4.05% 6.63% 7.17% 6.95% 9.12% 10.02% 10.62% 10.83% 5.70% 5.45%
Profit (Net Income) Margin		 1.20% 1.99% 5.44% 5.48% 5.50% 6.74% 7.44% 7.23% 7.51% 3.42% 3.09%
Tax Burden Percent		 53.33% 58.65% 89.00% 79.67% 78.52% 76.19% 76.64% 73.65% 74.85% 76.55% 71.43%
Interest Burden Percent		 75.95% 83.87% 92.17% 96.02% 100.75% 97.01% 96.92% 92.51% 92.61% 78.47% 79.49%
Effective Tax Rate		 46.67% 41.35% 11.00% 20.33% 21.48% 23.81% 23.36% 26.35% 25.15% 23.45% 28.57%
Return on Invested Capital (ROIC)		 15.98% 37.93% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 12.42% 31.04% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 -378.02% 245.26% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -362.03% 283.19% 147.72% 66.09% 49.88% 50.28% 45.43% 42.87% 87.93% 235.37% 252.03%
Cash Return on Invested Capital (CROIC)		 47.33% 66.87% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 3.56% 5.92% 9.26% 9.98% 10.34% 12.71% 14.33% 15.43% 15.16% 7.37% 6.90%
Return on Assets (ROA)		 1.44% 2.91% 7.59% 7.64% 8.18% 9.39% 10.64% 10.52% 10.51% 4.43% 3.92%
Return on Common Equity (ROCE)		 -362.03% 283.19% 147.72% 66.09% 49.88% 50.28% 45.43% 42.87% 87.93% 235.37% 252.03%
Return on Equity Simple (ROE_SIMPLE)		 395.99% 174.29% 86.41% 51.20% 44.63% 44.81% 38.37% 45.81% 480.77% 250.72% 0.00%
Net Operating Profit after Tax (NOPAT)		 42 73 193 200 210 280 349 384 405 220 195
NOPAT Margin		 1.56% 2.38% 5.90% 5.71% 5.46% 6.95% 7.68% 7.82% 8.11% 4.36% 3.89%
Net Nonoperating Expense Percent (NNEP)		 3.57% 6.89% -2.47% -0.64% 0.13% -0.55% -0.62% -1.77% -2.65% -5.56% -3.84%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 29.25% 33.72% 20.45% 19.78%
Cost of Revenue to Revenue		 6.73% 6.21% 6.50% 6.54% 6.35% 6.49% 5.82% 6.17% 6.15% 6.02% 5.77%
SG&A Expenses to Revenue		 2.60% 3.01% 3.48% 4.05% 3.55% 3.77% 3.88% 4.91% 4.23% 4.59% 4.13%
R&D to Revenue		 0.00% 1.01% 1.37% 1.40% 1.12% 0.99% 1.10% 1.49% 1.30% 1.35% 1.42%
Operating Expenses to Revenue		 90.33% 89.74% 86.87% 86.30% 86.70% 84.38% 84.16% 83.21% 83.02% 88.28% 88.78%
Earnings before Interest and Taxes (EBIT)		 79 124 217 251 268 368 455 521 541 288 273
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 132 163 252 297 324 436 540 623 653 407 388
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 166.93 50.16 14.89 7.85 8.29 8.81 7.08 5.39 76.27 65.04 52.35
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 45.26 23.02 18.13 11.86 27.86 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.51 0.57 0.94 0.84 1.02 1.33 1.37 0.85 1.19 0.89 0.56
Price to Earnings (P/E)		 42.16 28.78 17.23 15.32 18.57 19.66 18.45 11.77 15.86 25.94 18.24
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.83% 1.83%
Earnings Yield		 2.37% 3.47% 5.80% 6.53% 5.39% 5.09% 5.42% 8.50% 6.30% 3.86% 5.48%
Enterprise Value to Invested Capital (EV/IC)		 7.11 11.49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.59 0.62 0.52 0.52 0.67 0.91 0.98 0.55 1.03 0.71 0.33
Enterprise Value to EBITDA (EV/EBITDA)		 11.82 11.56 6.80 6.09 7.95 8.42 8.25 4.36 7.89 8.79 4.25
Enterprise Value to EBIT (EV/EBIT)		 19.75 15.20 7.89 7.21 9.62 9.98 9.79 5.22 9.52 12.43 6.04
Enterprise Value to NOPAT (EV/NOPAT)		 37.51 25.91 8.87 9.05 12.25 13.10 12.77 7.08 12.72 16.23 8.46
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.33 9.82 2.83 0.00 5.47 6.73 20.44 5.47 9.55 12.83 5.45
Enterprise Value to Free Cash Flow (EV/FCFF)		 12.67 14.70 1.14 0.00 7.66 7.91 24.65 16.11 11.68 10.54 3.45
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 61.12 13.11 2.05 1.10 0.92 0.69 0.56 0.69 14.40 14.62 17.26
Long-Term Debt to Equity		 57.04 12.06 1.86 1.04 0.88 0.65 0.56 0.69 13.00 13.54 17.26
Financial Leverage		 -30.45 7.90 -5.09 -4.28 -2.93 -2.80 -2.32 -1.96 -2.65 -11.62 -16.96
Leverage Ratio		 -250.77 97.20 19.45 8.65 6.10 5.35 4.27 4.08 8.37 53.14 64.36
Compound Leverage Factor		 -190.45 81.52 17.93 8.31 6.14 5.19 4.14 3.77 7.75 41.70 51.16
Debt to Total Capital		 98.39% 92.92% 67.25% 52.41% 48.03% 40.84% 35.97% 40.93% 93.51% 93.60% 94.52%
Short-Term Debt to Total Capital		 6.57% 7.49% 6.36% 2.79% 2.41% 2.14% 0.00% 0.00% 9.08% 6.96% 0.00%
Long-Term Debt to Total Capital		 91.82% 85.43% 60.89% 49.62% 45.62% 38.69% 35.97% 40.93% 84.43% 86.64% 94.52%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 1.61% 7.09% 32.75% 47.59% 51.97% 59.16% 64.03% 59.07% 6.49% 6.40% 5.48%
Debt to EBITDA		 3.74 2.82 1.68 1.39 1.35 0.96 0.92 0.86 1.72 2.48 2.40
Net Debt to EBITDA		 1.60 0.79 -5.38 -3.81 -4.19 -3.84 -3.30 -2.34 -1.22 -2.23 -3.03
Long-Term Debt to EBITDA		 3.49 2.59 1.52 1.32 1.29 0.91 0.92 0.86 1.55 2.29 2.40
Debt to NOPAT		 11.87 6.31 2.19 2.07 2.09 1.49 1.42 1.40 2.77 4.58 4.78
Net Debt to NOPAT		 5.08 1.77 -7.02 -5.67 -6.46 -5.97 -5.11 -3.80 -1.97 -4.12 -6.04
Long-Term Debt to NOPAT		 11.08 5.80 1.98 1.96 1.98 1.42 1.42 1.40 2.50 4.24 4.78
Altman Z-Score		 1.52 1.92 2.22 2.59 2.75 3.09 3.65 2.93 2.52 1.85 1.68
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.08 1.11 1.13 1.16 1.14 1.16 1.40 1.17 1.05 1.07 1.09
Quick Ratio		 0.11 0.13 0.37 0.42 0.35 0.33 0.65 0.41 0.33 0.25 0.22
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 123 128 1,506 -191 336 464 181 169 441 339 478
Operating Cash Flow to CapEx		 794.74% 480.00% 1,594.74% -241.86% 1,046.67% 1,516.67% 545.00% 887.50% 718.67% 357.69% 439.13%
Free Cash Flow to Firm to Interest Expense		 6.48 6.41 75.31 -8.68 16.02 22.11 9.04 4.33 11.02 5.48 8.54
Operating Cash Flow to Interest Expense		 7.95 9.60 30.30 -4.73 22.43 26.00 10.90 12.74 13.48 4.50 5.41
Operating Cash Flow Less CapEx to Interest Expense		 6.95 7.60 28.40 -6.68 20.29 24.29 8.90 11.31 11.60 3.24 4.18
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.20 1.46 1.40 1.39 1.49 1.39 1.43 1.45 1.40 1.29 1.27
Accounts Receivable Turnover		 0.00 0.00 0.00 11.07 12.66 14.46 13.91 12.53 11.63 11.95 15.07
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 75.82 63.19 50.78 47.02 47.02 49.20 88.16 204.46 243.61 374.30 477.14
Accounts Payable Turnover		 14.22 10.58 5.20 4.40 6.45 6.47 3.88 3.29 3.32 3.45 3.30
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 32.98 28.82 25.24 26.25 29.12 31.39 30.56 24.22
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 25.67 34.49 70.26 82.88 56.61 56.42 94.02 110.83 109.98 105.66 110.51
Cash Conversion Cycle (CCC)		 -25.67 -34.49 -70.26 -49.90 -27.79 -31.18 -67.77 -81.70 -78.58 -75.10 -86.29
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 219 164 -1,149 -758 -884 -1,068 -900 -685 -721 -840 -1,123
Invested Capital Turnover		 10.22 15.96 -6.65 -3.67 -4.70 -4.13 -4.61 -6.19 -7.10 -6.47 -5.10
Increase / (Decrease) in Invested Capital		 -82 -55 -1,313 391 -126 -184 168 215 -36 -119 -283
Enterprise Value (EV)		 1,560 1,885 1,712 1,809 2,577 3,672 4,455 2,718 5,150 3,579 1,650
Market Capitalization		 1,349 1,756 3,067 2,942 3,936 5,347 6,236 4,178 5,949 4,488 2,827
Book Value per Share		 $0.12 $0.51 $2.96 $5.32 $6.80 $9.11 $13.40 $12.45 $1.54 $1.39 $1.12
Tangible Book Value per Share		 ($4.68) ($4.14) ($1.57) $0.92 $2.45 $4.43 $8.00 $2.41 ($11.01) ($11.05) ($11.66)
Total Capital		 502 494 629 788 914 1,026 1,376 1,312 1,201 1,078 986
Total Debt		 494 459 423 413 439 419 495 537 1,123 1,009 932
Total Long-Term Debt		 461 422 383 391 417 397 495 537 1,014 934 932
Net Debt		 211 129 -1,355 -1,133 -1,359 -1,675 -1,781 -1,460 -799 -909 -1,177
Capital Expenditures (CapEx)		 19 40 38 43 45 36 40 56 75 78 69
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -35 -6.00 -1,342 -981 -1,211 -1,434 -1,242 -1,355 -1,397 -1,499 -1,750
Debt-free Net Working Capital (DFNWC)		 145 193 274 243 250 312 700 338 224 274 231
Net Working Capital (NWC)		 112 156 234 221 228 290 700 338 115 199 231
Net Nonoperating Expense (NNE)		 9.60 12 15 7.97 -1.57 8.38 11 29 30 47 40
Net Nonoperating Obligations (NNO)		 211 129 -1,355 -1,133 -1,359 -1,675 -1,781 -1,460 -799 -909 -1,177
Total Depreciation and Amortization (D&A)		 53 39 35 46 56 68 85 102 112 119 115
Debt-free, Cash-free Net Working Capital to Revenue		 -1.33% -0.20% -40.98% -28.00% -31.41% -35.55% -27.36% -27.61% -27.97% -29.67% -34.93%
Debt-free Net Working Capital to Revenue		 5.47% 6.31% 8.37% 6.94% 6.48% 7.73% 15.42% 6.89% 4.49% 5.42% 4.61%
Net Working Capital to Revenue		 4.23% 5.10% 7.15% 6.31% 5.91% 7.19% 15.42% 6.89% 2.30% 3.94% 4.61%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.45 $0.88 $2.57 $2.72 $3.04 $4.03 $5.13 $5.66 $6.61 $3.47 $3.20
Adjusted Weighted Average Basic Shares Outstanding		 70.23M 70.16M 69.18M 70.39M 70M 67M 66M 63M 57M 50M 48M
Adjusted Diluted Earnings per Share		 $0.44 $0.85 $2.49 $2.65 $2.99 $3.99 $5.07 $5.61 $6.56 $3.43 $3.20
Adjusted Weighted Average Diluted Shares Outstanding		 72.62M 71.97M 71.39M 72.30M 71M 68M 67M 64M 57M 50M 49M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 70.71M 68.27M 70.06M 70.17M 68.75M 65.99M 65.70M 59.98M 50.57M 49.53M 47.30M
Normalized Net Operating Profit after Tax (NOPAT)		 42 73 193 200 210 280 349 384 405 220 195
Normalized NOPAT Margin		 1.56% 2.38% 5.90% 5.71% 5.46% 6.95% 7.68% 7.82% 8.11% 4.36% 3.89%
Pre Tax Income Margin		 2.26% 3.40% 6.11% 6.88% 7.00% 8.85% 9.71% 9.82% 10.03% 4.47% 4.33%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 4.16 6.20 10.85 11.41 12.76 17.52 22.75 13.36 13.53 4.65 4.88
NOPAT to Interest Expense		 2.19 3.64 9.66 9.09 10.02 13.35 17.44 9.84 10.12 3.56 3.48
EBIT Less CapEx to Interest Expense		 3.16 4.20 8.95 9.45 10.62 15.81 20.75 11.92 11.65 3.39 3.64
NOPAT Less CapEx to Interest Expense		 1.19 1.64 7.76 7.13 7.88 11.64 15.44 8.40 8.25 2.30 2.25
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21.39% 33.55%
Augmented Payout Ratio		 153.13% 124.59% 24.72% 31.77% 66.04% 65.44% 27.81% 147.32% 299.20% 127.17% 151.61%

Quarterly Metrics And Ratios for TriNet Group

This table displays calculated financial ratios and metrics derived from TriNet Group's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 47,299,186.00 45,944,643.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 47,299,186.00 45,944,643.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 1.88 1.15
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 5.53% 1.44% 1.41% 1.23% 0.68% 0.78% -0.40% -1.60% -2.19% -5.11% -4.85%
EBITDA Growth		 161.90% -24.12% -11.38% -40.94% -114.55% -5.88% -29.09% -9.09% 53.57% 6.25% 35.90%
EBIT Growth		 103.85% -27.81% -17.53% -50.00% -82.39% -7.26% -37.04% -13.79% 128.00% 6.96% 45.10%
NOPAT Growth		 112.87% -27.21% -18.30% -48.83% -84.18% -6.59% -38.33% -24.44% -425.71% 4.71% 43.24%
Net Income Growth		 42.55% -30.53% -27.71% -52.13% -134.33% -6.59% -38.33% -24.44% 95.65% 4.71% 43.24%
EPS Growth		 66.27% -17.97% -13.04% -45.40% -131.88% -3.93% -35.83% -21.35% 104.55% 11.11% 49.35%
Operating Cash Flow Growth		 38.24% -58.44% -185.42% 71.82% -4.64% 4.40% 92.31% -14.29% -6.15% 56.84% 17.33%
Free Cash Flow Firm Growth		 201.95% 212.06% -287.74% -320.41% -13.31% -66.67% 238.83% 610.39% 65.57% 626.67% -94.64%
Invested Capital Growth		 -5.26% 0.20% 47.97% 44.53% -16.50% 11.18% -83.27% -236.18% -33.69% -29.52% 7.91%
Revenue Q/Q Growth		 7.77% 1.53% -3.01% 0.90% 7.19% -2.56% -4.18% -0.48% 1.30% -1.76% -3.92%
EBITDA Q/Q Growth		 -26.17% 251.16% -27.81% -19.27% -118.18% 1,000.00% -45.83% 2.56% 7.50% 77.91% -30.72%
EBIT Q/Q Growth		 37.07% 40.23% -34.43% -27.50% -51.72% 310.71% -55.65% -1.96% 14.00% 115.79% -39.84%
NOPAT Q/Q Growth		 40.87% 32.09% -33.81% -24.06% -56.44% 333.67% -56.47% -8.11% -267.65% 256.14% -40.45%
Net Income Q/Q Growth		 -28.72% 35.82% -34.07% -25.00% -151.11% 469.57% -56.47% -8.11% -102.94% 9,000.00% -40.45%
EPS Q/Q Growth		 -15.34% 28.99% -32.58% -25.83% -149.44% 488.64% -54.97% -9.09% -97.14% 9,400.00% -39.47%
Operating Cash Flow Q/Q Growth		 629.09% -120.75% -0.82% 74.80% 1,890.32% -82.88% -21.05% -4.00% -15.28% 144.26% -40.94%
Free Cash Flow Firm Q/Q Growth		 357.62% -14.69% -313.19% 59.20% 280.00% -78.36% 770.00% 50.57% -42.49% -3.54% -93.58%
Invested Capital Q/Q Growth		 -163.14% 31.76% 45.33% 43.49% -452.63% 47.98% -12.81% -3.65% -119.77% 49.60% 19.79%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 94.23% 93.75% 93.88% 94.02% 94.27% 94.50% 94.26% 94.07% 94.07% 94.29% 94.48%
EBITDA Margin		 8.35% 11.95% 8.89% 7.11% -1.21% 11.15% 6.30% 6.49% 6.89% 12.48% 9.00%
Operating Margin		 12.07% 9.65% 6.53% 4.69% 2.11% 8.90% 4.12% 4.06% 4.57% 10.03% 6.28%
EBIT Margin		 12.07% 9.65% 6.53% 4.69% 2.11% 8.90% 4.12% 4.06% 4.57% 10.03% 6.28%
Profit (Net Income) Margin		 5.09% 7.20% 4.89% 3.64% -1.73% 6.58% 2.99% 2.76% -0.08% 7.26% 4.50%
Tax Burden Percent		 77.91% 73.39% 74.07% 77.59% 62.16% 73.91% 72.55% 68.00% -100.00% 72.36% 71.62%
Interest Burden Percent		 54.09% 101.64% 101.25% 100.00% -132.14% 100.00% 100.00% 100.00% 1.75% 100.00% 100.00%
Effective Tax Rate		 22.09% 26.61% 25.93% 22.41% 0.00% 26.09% 27.45% 32.00% 200.00% 27.64% 28.38%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 87.93% 69.21% 61.48% 378.42% 235.37% 162.14% 139.13% 111.30% 252.03% 217.81% 150.86%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 16.90% 12.38% 9.25% 6.96% 2.73% 11.64% 5.64% 5.72% 5.78% 13.79% 8.72%
Return on Assets (ROA)		 7.12% 9.23% 6.94% 5.40% -2.24% 8.60% 4.09% 3.89% -0.10% 9.98% 6.25%
Return on Common Equity (ROCE)		 87.93% 69.21% 61.48% 378.42% 235.37% 162.14% 139.13% 111.30% 252.03% 217.81% 150.86%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 234.27% 312.00% 203.88% 0.00% 265.08% 134.58% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 124 90 59 45 20 85 37 34 -57 89 53
NOPAT Margin		 9.41% 7.08% 4.83% 3.64% 1.48% 6.58% 2.99% 2.76% -4.57% 7.26% 4.50%
Net Nonoperating Expense Percent (NNEP)		 -5.04% 0.15% 0.08% 0.00% -4.99% 0.00% 0.00% 0.00% 5.37% 0.00% 0.00%
Return On Investment Capital (ROIC_SIMPLE)		 10.31% - - - 1.82% 7.94% 3.25% 3.26% -5.78% 8.74% 4.98%
Cost of Revenue to Revenue		 5.77% 6.25% 6.12% 5.98% 5.73% 5.50% 5.74% 5.93% 5.93% 5.71% 5.52%
SG&A Expenses to Revenue		 4.33% 3.80% 3.83% 3.72% 6.86% 3.56% 4.20% 4.14% 4.65% 4.81% 4.75%
R&D to Revenue		 1.21% 1.42% 1.39% 1.37% 1.21% 1.55% 1.37% 1.46% 1.28% 1.55% 1.44%
Operating Expenses to Revenue		 82.16% 84.10% 87.36% 89.33% 92.16% 85.60% 90.15% 90.02% 89.50% 84.26% 88.20%
Earnings before Interest and Taxes (EBIT)		 159 122 80 58 28 115 51 50 57 123 74
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 110 151 109 88 -16 144 78 80 86 153 106
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 76.27 46.68 50.44 37.24 65.04 62.08 32.96 29.43 52.35 20.60 18.08
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.19 1.35 1.02 0.97 0.89 0.77 0.70 0.64 0.56 0.35 0.46
Price to Earnings (P/E)		 15.86 19.93 16.17 18.27 25.94 23.42 24.49 24.34 18.24 10.75 12.92
Dividend Yield		 0.00% 0.19% 0.25% 0.52% 0.83% 1.27% 1.41% 1.58% 1.83% 3.04% 2.27%
Earnings Yield		 6.30% 5.02% 6.19% 5.47% 3.86% 4.27% 4.08% 4.11% 5.48% 9.30% 7.74%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 1.03 1.22 0.94 0.91 0.71 0.67 0.58 0.52 0.33 0.21 0.34
Enterprise Value to EBITDA (EV/EBITDA)		 7.89 13.10 10.46 11.72 8.79 8.57 8.00 7.31 4.25 2.67 3.96
Enterprise Value to EBIT (EV/EBIT)		 9.52 14.31 11.54 13.04 12.43 12.23 11.75 10.85 6.04 3.77 5.53
Enterprise Value to NOPAT (EV/NOPAT)		 12.72 19.01 15.35 17.30 16.23 15.89 15.26 14.61 8.46 5.34 7.84
Enterprise Value to Operating Cash Flow (EV/OCF)		 9.55 12.08 20.06 14.50 12.83 12.05 9.17 8.52 5.45 2.97 4.54
Enterprise Value to Free Cash Flow (EV/FCFF)		 11.68 19.07 82.77 32.43 10.54 21.36 7.04 4.86 3.45 3.24 9.58
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 14.40 7.83 10.92 8.51 14.62 15.98 9.64 8.48 17.26 11.27 7.52
Long-Term Debt to Equity		 13.00 7.07 10.08 7.93 13.54 14.81 8.80 8.48 17.26 11.27 7.52
Financial Leverage		 -2.65 -2.02 -1.77 -4.06 -11.62 -5.51 -4.68 -3.77 -16.96 -7.87 -5.08
Leverage Ratio		 8.37 7.96 6.89 48.17 53.14 37.59 35.71 29.93 64.36 49.28 30.32
Compound Leverage Factor		 4.52 8.09 6.98 48.17 -70.22 37.59 35.71 29.93 1.13 49.28 30.32
Debt to Total Capital		 93.51% 88.68% 91.61% 89.49% 93.60% 94.11% 90.61% 89.45% 94.52% 91.85% 88.26%
Short-Term Debt to Total Capital		 9.08% 8.63% 7.05% 6.11% 6.96% 6.92% 7.90% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 84.43% 80.05% 84.56% 83.37% 86.64% 87.20% 82.70% 89.45% 94.52% 91.85% 88.26%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 6.49% 11.32% 8.39% 10.51% 6.40% 5.89% 9.39% 10.55% 5.48% 8.15% 11.74%
Debt to EBITDA		 1.72 2.43 2.44 2.84 2.48 2.53 2.82 2.61 2.40 2.36 2.21
Net Debt to EBITDA		 -1.22 -1.38 -0.83 -0.73 -2.23 -1.26 -1.64 -1.73 -3.03 -1.63 -1.36
Long-Term Debt to EBITDA		 1.55 2.19 2.26 2.65 2.29 2.34 2.57 2.61 2.40 2.36 2.21
Debt to NOPAT		 2.77 3.53 3.59 4.20 4.58 4.69 5.38 5.21 4.78 4.71 4.38
Net Debt to NOPAT		 -1.97 -2.00 -1.21 -1.07 -4.12 -2.33 -3.13 -3.47 -6.04 -3.27 -2.70
Long-Term Debt to NOPAT		 2.50 3.18 3.31 3.91 4.24 4.35 4.91 5.21 4.78 4.71 4.38
Altman Z-Score		 2.18 2.15 1.94 1.90 1.64 1.77 1.72 1.78 1.50 1.53 1.61
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.05 1.06 1.04 1.07 1.07 1.08 1.10 1.11 1.09 1.12 1.13
Quick Ratio		 0.33 0.32 0.30 0.34 0.25 0.32 0.36 0.36 0.22 0.36 0.37
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 160 89 -189 -77 139 30 261 393 226 218 14
Operating Cash Flow to CapEx		 2,771.43% -677.78% -723.53% -124.00% 3,083.33% 593.75% 416.67% 423.53% 338.89% 573.08% 419.05%
Free Cash Flow to Firm to Interest Expense		 9.40 5.53 -11.80 -5.13 9.24 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 34.24 -7.63 -7.69 -2.07 37.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 33.00 -8.75 -8.75 -3.73 35.80 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.40 1.28 1.42 1.49 1.29 1.31 1.37 1.41 1.27 1.37 1.39
Accounts Receivable Turnover		 11.63 11.44 11.25 10.46 11.95 10.36 10.13 9.96 15.07 10.33 10.50
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 243.61 214.78 230.56 331.47 374.30 421.92 421.50 403.04 477.14 318.97 264.00
Accounts Payable Turnover		 3.32 2.44 3.29 3.18 3.45 2.90 3.44 3.40 3.30 3.37 3.00
Days Sales Outstanding (DSO)		 31.39 31.92 32.44 34.91 30.56 35.22 36.05 36.66 24.22 35.33 34.75
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 109.98 149.32 111.06 114.66 105.66 125.78 106.25 107.24 110.51 108.36 121.67
Cash Conversion Cycle (CCC)		 -78.58 -117.40 -78.63 -79.76 -75.10 -90.56 -70.20 -70.58 -86.29 -73.03 -86.92
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -721 -492 -269 -152 -840 -437 -493 -511 -1,123 -566 -454
Invested Capital Turnover		 -7.10 -10.03 -12.61 -23.34 -6.47 -10.90 -13.28 -15.20 -5.10 -9.86 -10.31
Increase / (Decrease) in Invested Capital		 -36 1.00 248 122 -119 55 -224 -359 -283 -129 39
Enterprise Value (EV)		 5,150 6,040 4,675 4,523 3,579 3,411 2,927 2,616 1,650 1,060 1,681
Market Capitalization		 5,949 6,675 5,044 4,804 4,488 3,911 3,527 3,237 2,827 1,709 2,260
Book Value per Share		 $1.54 $2.80 $1.98 $2.60 $1.39 $1.27 $2.21 $2.26 $1.12 $1.75 $2.72
Tangible Book Value per Share		 ($11.01) ($9.67) ($10.64) ($10.31) ($11.05) ($10.98) ($10.37) ($10.33) ($11.66) ($11.27) ($11.17)
Total Capital		 1,201 1,263 1,192 1,227 1,078 1,070 1,139 1,043 986 1,018 1,065
Total Debt		 1,123 1,120 1,092 1,098 1,009 1,007 1,032 933 932 935 940
Total Long-Term Debt		 1,014 1,011 1,008 1,023 934 933 942 933 932 935 940
Net Debt		 -799 -635 -369 -281 -909 -500 -600 -621 -1,177 -649 -579
Capital Expenditures (CapEx)		 21 18 17 25 18 16 18 17 18 26 21
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1,397 -1,162 -955 -841 -1,499 -1,088 -1,164 -1,180 -1,750 -1,204 -1,122
Debt-free Net Working Capital (DFNWC)		 224 280 187 240 274 285 344 249 231 258 275
Net Working Capital (NWC)		 115 171 103 165 199 211 254 249 231 258 275
Net Nonoperating Expense (NNE)		 57 -1.47 -0.74 0.00 43 0.00 0.00 0.00 -56 0.00 0.00
Net Nonoperating Obligations (NNO)		 -799 -635 -369 -281 -909 -500 -600 -621 -1,177 -649 -579
Total Depreciation and Amortization (D&A)		 -49 29 29 30 -44 29 27 30 29 30 32
Debt-free, Cash-free Net Working Capital to Revenue		 -27.97% -23.52% -19.27% -16.91% -29.67% -21.49% -23.01% -23.42% -34.93% -24.35% -22.97%
Debt-free Net Working Capital to Revenue		 4.49% 5.67% 3.77% 4.83% 5.42% 5.63% 6.80% 4.94% 4.61% 5.22% 5.63%
Net Working Capital to Revenue		 2.30% 3.46% 2.08% 3.32% 3.94% 4.17% 5.02% 4.94% 4.61% 5.22% 5.63%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.38 $1.80 $1.21 $0.90 ($0.44) $1.72 $0.77 $0.70 $0.01 $1.90 $1.16
Adjusted Weighted Average Basic Shares Outstanding		 57M 51M 50M 50M 50M 49M 48M 48M 48M 47M 46M
Adjusted Diluted Earnings per Share		 $1.38 $1.78 $1.20 $0.89 ($0.44) $1.71 $0.77 $0.70 $0.02 $1.90 $1.15
Adjusted Weighted Average Diluted Shares Outstanding		 57M 51M 51M 50M 50M 49M 49M 48M 49M 47M 46M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 50.57M 50.56M 49.67M 49.58M 49.53M 48.40M 48.59M 48.03M 47.30M 45.94M 45.90M
Normalized Net Operating Profit after Tax (NOPAT)		 124 90 59 45 20 85 37 34 40 89 53
Normalized NOPAT Margin		 9.41% 7.08% 4.83% 3.64% 1.48% 6.58% 2.99% 2.76% 3.20% 7.26% 4.50%
Pre Tax Income Margin		 6.53% 9.81% 6.61% 4.69% -2.79% 8.90% 4.12% 4.06% 0.08% 10.03% 6.28%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 9.35 7.63 5.00 3.87 1.87 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 7.29 5.60 3.70 3.00 1.31 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 8.12 6.50 3.94 2.20 0.67 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 6.05 4.47 2.64 1.33 0.11 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 21.39% 29.34% 34.72% 38.35% 33.55% 33.33% 29.71%
Augmented Payout Ratio		 299.20% 314.63% 371.47% 63.88% 127.17% 179.04% 131.25% 151.13% 151.61% 128.30% 125.71%

Financials Breakdown Chart

Key Financial Trends

TriNet Group’s recent results show a clear rebound in profitability and operating cash flow in Q1 2026 compared with the prior quarter, but the balance sheet still carries a lot of short-term pressure.

  • Q1 2026 revenue was $1.226 billion, up from $1.248 billion in Q4 2025, showing relatively stable top-line performance despite a small sequential dip.
  • Operating income improved sharply to $123 million in Q1 2026 from $57 million in Q4 2025.
  • Net income rebounded to $89 million in Q1 2026 after a $1 million loss in Q4 2025.
  • Operating cash flow strengthened to $149 million in Q1 2026 versus $61 million in Q4 2025, a strong sign of better underlying cash generation.
  • The company ended Q1 2026 with $1.46 billion in cash and restricted cash combined, giving it a sizable liquidity cushion.
  • Total equity improved to $83 million in Q1 2026 from $63 million at Q1 2025 and $107 million at Q2 2025, showing some balance sheet recovery.
  • Revenue has been fairly steady over the last several quarters, generally ranging from about $1.22 billion to $1.33 billion per quarter.
  • Gross margin appears consistently strong, with gross profit around $1.15 billion to $1.25 billion per quarter on revenue near $1.2 billion to $1.3 billion.
  • The company continues to return capital through dividends and share repurchases, although buybacks have varied significantly quarter to quarter.
  • Marketing expense remains very high and is the biggest cost line by far, which continues to pressure operating margins.
  • Total current liabilities were $2.226 billion in Q1 2026, exceeding total current assets of $2.484 billion only by a modest margin when restricted cash is considered, leaving little room for error in working capital management.
  • Long-term debt remained elevated at $896 million in Q1 2026, and short-term debt increased to $0 from $90 million in Q3 2025 but was still a notable source of leverage earlier in the year.
  • Profitability has been volatile over the past year: Q4 2024 and Q4 2025 both showed losses, which suggests earnings can swing materially.
  • The balance sheet still reflects large negative retained earnings of $1.066 billion, indicating a long history of cumulative losses or distributions that offset equity.

Longer-term trend: TriNet’s earnings recovered strongly from the weak Q4 2024 period and improved again in early 2026, but the company is still operating with thin equity and a heavy liability load. For retail investors, the key positives are stable revenue, strong cash generation, and improved quarterly profitability. The main risks are the high cost structure, debt, and balance sheet sensitivity if operating performance weakens again.

08/11/26 09:04 AM ETAI Generated. May Contain Errors.

TriNet Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, TriNet Group's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

TriNet Group's net income appears to be on an upward trend, with a most recent value of $155 million in 2025, rising from $32 million in 2015. The previous period was $173 million in 2024. See TriNet Group's forecast for analyst expectations on what's next for the company.

TriNet Group's total operating income in 2025 was $273 million, based on the following breakdown:
  • Total Gross Profit: $4.72 billion
  • Total Operating Expenses: $4.45 billion

Over the last 10 years, TriNet Group's total revenue changed from $2.66 billion in 2015 to $5.01 billion in 2025, a change of 88.4%.

TriNet Group's total liabilities were at $3.74 billion at the end of 2025, a 7.6% decrease from 2024, and a 79.6% increase since 2015.

In the past 10 years, TriNet Group's cash and equivalents has ranged from $166.18 million in 2015 to $612 million in 2021, and is currently $287 million as of their latest financial filing in 2025.

Over the last 10 years, TriNet Group's book value per share changed from 0.12 in 2015 to 1.12 in 2025, a change of 874.3%.


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Financial statements for NYSE:TNET last updated on 7/30/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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