TNET

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TriNet Group, Inc.

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Key Metrics

Previous Close: $69.61
52-Week Range: $33.61 – $73.08
Market Cap: $3.15B
P/E (TTM): 18.22
EPS (TTM): 3.77
Dividend Yield: 1.67%

Advanced Metrics

Price/Book: 38.19
PEG Ratio: 6.06
Return on Equity: 150.86%
Return on Assets: 4.73%
Gross Margin: 18.15%
Operating Margin: 6.43%
Profit Margin: 3.62%
Current Ratio: 1.13
Debt/Equity: 7.60
Total Debt: $950.00M
Free Cash Flow: $264.50M
Revenue Growth: -4.40%
Earnings Growth: 49.40%
Enterprise Value: $3.79B

TNET Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$4.91B	$4.99B	$5.05B	$5.01B
Cost of Revenue	$3.77B	$3.82B	$4.10B	$4.12B
Gross Profit	$1.14B	$1.17B	$952.00M	$886.00M
Research & Development	$73.00M	$65.00M	$68.00M	$71.00M
Selling, General & Admin	$483.00M	$496.00M	$521.00M	$476.00M
Operating Expenses	$620.00M	$633.00M	$664.00M	$613.00M
Operating Income	$521.00M	$541.00M	$288.00M	$273.00M
EBITDA	$610.00M	$622.00M	$374.00M	$346.00M
Pretax Income	$482.00M	$501.00M	$226.00M	$217.00M
Income Tax	$127.00M	$126.00M	$53.00M	$62.00M
Net Income	$355.00M	$375.00M	$173.00M	$155.00M
Diluted EPS	5.61	6.56	3.43	3.20
Diluted Shares	64.00M	57.00M	50.00M	49.00M

TNET Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$354.00M	$287.00M	$360.00M	$287.00M
Receivables	$394.00M	$465.00M	$381.00M	$284.00M
Current Assets	$2.33B	$2.58B	$3.18B	$2.87B
Total Assets	$3.44B	$3.69B	$4.12B	$3.80B
Current Liabilities	$1.99B	$2.46B	$2.98B	$2.64B
Long-Term Debt	$496.00M	$984.00M	$908.00M	$895.00M
Total Debt	$552.00M	$1.14B	$1.02B	$942.00M
Total Liabilities	$2.67B	$3.62B	$4.05B	$3.74B
Retained Earnings	-$119.00M	-$896.00M	-$984.00M	-$1.08B
Shareholders' Equity	$775.00M	$78.00M	$69.00M	$54.00M
Working Capital	$338.00M	$115.00M	$199.00M	$231.00M
Net Debt	$142.00M	$806.00M	$623.00M	$608.00M

TNET Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$497.00M	$539.00M	$279.00M	$303.00M
Capital Expenditure	-$56.00M	-$75.00M	-$78.00M	-$69.00M
Free Cash Flow	$441.00M	$464.00M	$201.00M	$234.00M
Depreciation & Amortisation	$89.00M	$81.00M	$86.00M	$73.00M
Stock-Based Compensation	$62.00M	$59.00M	$65.00M	$65.00M
Investing Cash Flow	-$226.00M	-$70.00M	$153.00M	-$43.00M
Financing Cash Flow	-$471.00M	-$540.00M	-$207.00M	-$49.00M
Dividends Paid	$0.00	$0.00	-$37.00M	-$52.00M
Share Repurchases	-$523.00M	-$1.12B	-$183.00M	-$183.00M
Net Change in Cash	-$200.00M	-$71.00M	$225.00M	$211.00M

TNET Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$1.29B	$1.24B	$1.23B	$1.25B	$1.23B
Cost of Revenue	$1.01B	$1.02B	$1.02B	$1.08B	$926.00M
Gross Profit	$279.00M	$220.00M	$216.00M	$171.00M	$300.00M
Research & Development	$20.00M	$17.00M	$18.00M	$16.00M	$19.00M
Selling, General & Admin	$113.00M	$120.00M	$119.00M	$124.00M	$128.00M
Operating Expenses	$150.00M	$154.00M	$153.00M	$156.00M	$164.00M
Operating Income	$129.00M	$66.00M	$63.00M	$15.00M	$136.00M
EBITDA	$148.00M	$83.00M	$82.00M	$33.00M	$155.00M
Pretax Income	$115.00M	$51.00M	$50.00M	$1.00M	$123.00M
Income Tax	$30.00M	$14.00M	$16.00M	$2.00M	$34.00M
Net Income	$85.00M	$37.00M	$34.00M	-$1.00M	$89.00M
Diluted EPS	1.71	0.77	0.70	-0.01	1.90
Diluted Shares	49.00M	49.00M	48.00M	48.00M	47.00M

TNET Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$349.00M	$407.00M	$321.00M	$287.00M	$340.00M
Receivables	$499.00M	$499.00M	$486.00M	$284.00M	$458.00M
Current Assets	$2.86B	$2.76B	$2.50B	$2.87B	$2.48B
Total Assets	$3.77B	$3.69B	$3.42B	$3.80B	$3.42B
Current Liabilities	$2.65B	$2.51B	$2.25B	$2.64B	$2.23B
Long-Term Debt	$909.00M	$894.00M	$895.00M	$895.00M	$896.00M
Total Debt	$1.02B	$1.03B	$943.00M	$942.00M	$946.00M
Total Liabilities	$3.71B	$3.58B	$3.31B	$3.74B	$3.34B
Retained Earnings	-$1.01B	-$988.00M	-$1.00B	-$1.08B	-$1.07B
Shareholders' Equity	$63.00M	$107.00M	$110.00M	$54.00M	$83.00M
Working Capital	$211.00M	$254.00M	$249.00M	$231.00M	$258.00M
Net Debt	$634.00M	$577.00M	$574.00M	$608.00M	$556.00M

TNET Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$95.00M	$75.00M	$72.00M	$61.00M	$149.00M
Capital Expenditure	-$16.00M	-$18.00M	-$17.00M	-$18.00M	-$26.00M
Free Cash Flow	$79.00M	$57.00M	$55.00M	$43.00M	$123.00M
Depreciation & Amortisation	$19.00M	$17.00M	$19.00M	$18.00M	$19.00M
Stock-Based Compensation	$13.00M	$18.00M	$17.00M	$17.00M	$16.00M
Investing Cash Flow	-$8.00M	$1.00M	-$20.00M	-$16.00M	-$13.00M
Financing Cash Flow	-$494.00M	$66.00M	-$132.00M	$511.00M	-$645.00M
Dividends Paid	-$12.00M	-$14.00M	-$13.00M	-$13.00M	-$13.00M
Share Repurchases	-$90.00M	-$1.00M	-$31.00M	-$61.00M	-$58.00M
Net Change in Cash	-$407.00M	$142.00M	-$80.00M	$556.00M	-$509.00M

Market Snapshot

About

TriNet Group provides comprehensive human resources solutions for small and medium-sized businesses through a professional employer organization (PEO) model. The company offers bundled HR services including payroll processing, benefits administration, risk mitigation, compliance support, and workforce management technology. TriNet serves thousands of clients across various industries throughout the United States.