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TriNet Group, Inc.

TNET Industrials Staffing & Employment Services

TriNet Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.9 billion, down 0.92% from fiscal 2024.

Revenue
−4.43%
EPS
+50.7%
Free cash flow
+17.5%
Total debt
−8.94%

Quarter to June 2026, against a year earlier

67.22 2.94 +4.57%
Market cap
$2.9B
P/E
17.1×
Fwd P/E
20.0×
Dividend yield
1.78%
F-score
6/9
Altman Z
1.61
Beneish M
−2.81
Dividend safety
85/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.19
Sold, $m 0.83
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell — 1 1 — 1 1 — — 4 — — —
Insider Ownership 2.59%

Capital & Financial Ratios $m

Size
Market Cap 2,940.00
Revenue ttm 4,827.00
Net income ttm 175.00
Free cash flow ttm 288.00
Net debt Q (501.00)
Valuation
P/E 17.14
Forward P/E 20.00
Price / sales 0.61
Forward P/S Powerpack
Price / FCF 10.27
Price / book 23.66 (above 6: high)
Financial health
Current ratio Q 1.13
Debt / equity Q 7.17 (above 2: weak)
Interest coverage Q 5.43
Growth
Revenue growth Q −4.43% (below 0%: shrinking)
Operating income growth Q +58.33% (above 0%: growing)
EPS, this year +5.09%
EPS, next year A +0.19%
Revenue, next year A −2.95% (below 0%: weak)
EPS, past 5 yrs −4.32% (below 0%: weak)
EPS, next 5 yrs A +5.96%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.5×, against a ten-year median of 0.8×; over the ten years it ranged from 0.2× in 2026 to 1.4× in 2024.
P/E against its own 10 years 33.31%
10-year low 10-year high
P/S against its own 10 years 18.47%
10-year low 10-year high
P/B against its own 10 years 57.29%
10-year low 10-year high
EV/Sales against its own 10 years 12.74%
10-year low 10-year high
EV/FCF against its own 10 years 34.44%
10-year low 10-year high

Dividends raised every year since 2024

Yield
1.78%
Annual rate
1.15
Payout ratio
30.6%
Growth, 2024–26
+23.6%/yr
  1. 0.75 ’24
  2. 1.08 ’25 +43%
  3. 1.15 ’26 +7%
paid Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,621 1,773 1,981 1,542
Receivables 465 381 284 378
Inventory — — — —
Other 425 962 521 464
2,578 3,180 2,868 2,431
2023 2024 2025 Q'26
Payables 87 89 86 91
ST’ Debt 109 75 — —
Other 1,503 1,982 1,728 1,242
2,463 2,981 2,637 2,136

Compound Annual Growth %

10y 5y 3y
Sales 6.40% 4.15% 0.39%
Cash Flow 7.21% (11.11%) (15.21%)
Earnings 17.09% (10.64%) (24.14%)
Book Value 20.92% (38.36%) (58.85%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.66 Actual 0.94

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.37 0.46 Beat by 0.09
Q1 FY26 1.91 2.48 Beat by 0.57
Q2 FY26 1.01 1.55 Beat by 0.54
Q3 FY26 0.66 0.94 Beat by 0.28
Q4 FY26 0.23 — Reports 11 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.90 1.15 0.66 — —
’25 1.71 0.76 0.70 (0.01) 3.20
’24 1.78 1.20 0.90 (0.46) 3.43
’23 2.17 1.38 1.63 1.31 6.56
’22 2.21 1.35 1.22 0.78 5.61
’21 1.51 1.37 1.16 1.03 5.07
’20 1.31 1.87 0.48 0.32 3.99
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,212 1,166 1,162 — —
’25 1,274 1,220 1,215 1,234 4,943
’24 1,264 1,226 1,237 1,262 4,989
’23 1,246 1,209 1,222 1,245 4,922
’22 1,218 1,200 1,241 1,226 4,885
’21 1,060 1,100 1,148 1,232 4,540
’20 1,048 948 975 1,063 4,034
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 149 88 80 — —
’25 95 75 72 61 303
’24 91 39 84 65 279
’23 (77) 144 (110) 582 539
’22 214 (89) (49) 421 497
’21 (175) (15) 174 234 218
’20 (282) 152 90 586 546
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 123 67 — — —
’25 79 57 55 43 234
’24 73 22 59 47 201
’23 (94) 127 (130) 561 464
’22 203 (104) (62) 404 441
’21 (180) (27) 162 223 178
’20 (288) 140 81 577 510
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,060 3,275 3,503 3,856 4,034 4,540 4,885 4,922 4,989 4,943 4,827 +5.5% 4,797 5,034 5,528 +3.8%
Gross margin, % 14.90 18.20 18.96 17.74 19.66 20.64 22.91 22.39 17.80 16.57 18.15 +1.7 pt
EBT 104 200 241 270 357 441 482 501 226 217 248 +8.5%
EBT margin, % 3.40 6.11 6.88 7.00 8.85 9.71 9.87 10.18 4.53 4.39 5.14 +1.0 pt
Net income 61 178 192 212 272 338 355 375 173 155 175 +10.9%
Per share, $
Per share, $ Revenue 43.61 47.46 50.04 55.09 60.21 68.79 77.54 86.35 99.78 102.98 104.93 +10.0%
Earnings 0.88 2.57 2.72 3.04 4.03 5.13 5.66 6.61 3.47 3.20 3.75 +15.4%
Cash flow 2.74 8.78 (1.49) 6.73 8.15 3.30 7.89 9.46 5.58 6.31 8.04 +9.7%
Capex 0.00 (0.55) (0.61) (0.64) (0.54) (0.61) (0.89) (1.32) (1.56) (1.44) (1.78) n/m
Free cash flow 2.74 8.23 (2.10) 6.09 7.61 2.70 7.00 8.14 4.02 4.88 6.26 +6.6%
Book value 0.50 2.99 5.36 6.79 9.06 13.35 12.30 1.37 1.38 1.13 2.72 +9.5%
Shares, m 70 69 70 70 67 66 63 57 50 48 47 (4.1%)
Valuation, ×
Valuation, × P/E 29.19 16.90 15.42 18.56 20.05 18.57 12.35 17.97 26.31 18.59 17.14 19.4
P/S 0.59 0.92 0.84 1.03 1.34 1.38 0.89 1.36 0.91 0.57 0.61 1.0
P/B 51.50 14.55 7.83 8.34 8.90 7.14 5.64 86.13 65.78 52.56 23.66 30.8
EV/Sales 0.67 0.55 0.61 0.75 1.00 1.07 0.65 1.26 0.75 0.37 0.53 0.8
EV/FCF 12.91 3.18 (14.46) 6.79 7.89 27.25 7.23 13.34 18.65 7.87 8.84 9.1
Cash, $m
Cash, $m Operating cash flow 192 606 (104) 471 546 218 497 539 279 303 370 +5.2%
Capex (40) (38) (43) (45) (36) (40) (56) (75) (78) (69) (82) +6.3%
Free cash flow 192 568 (147) 426 510 178 441 464 201 234 288 +2.2%
Balance, $m
Balance, $m Working capital 156 234 221 228 290 700 338 115 199 231 275 +4.5%
Net debt 260 (1,193) (811) (1,070) (1,376) (1,436) (1,182) (528) (790) (1,086) (501) n/m
Shareholders’ equity 35 206 375 475 607 881 775 78 69 54 133 +4.9%
Returns, %
Returns, % ROA 2.91 7.59 7.64 8.18 9.39 10.64 10.52 10.51 4.43 3.92 4.98 +1.0 pt
ROIC 26.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (26.3) pt
ROE 283.19 147.72 66.09 49.88 50.28 45.43 42.87 87.92 235.37 252.03 150.86 (31.2) pt
People
People Employees 2,600 2,700 3,100 2,900 2,700 2,800 3,600 3,600 3,600 3,400 — +3.0%
Revenue/emp, $m 1.18 1.21 1.13 1.33 1.49 1.62 1.36 1.37 1.39 1.45 — +2.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

TriNet Group, Inc. vs peers in Staffing & Employment Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RHI Robert Half Inc. $4.5B 38.0× 33.2× −2.44% (below 0%: shrinking) −36.59% (below 0%: shrinking) −2.55% (below 0%: shrinking) 35.47% (4.66%) Compare
KFY Korn/Ferry International $4.2B 14.2× 13.9× +6.86% (above 0%: growing) +5.47% (above 0%: growing) −2.15% (below 0%: shrinking) 25.61% 12.21% Compare
TNET TriNet Group, Inc. $2.9B 17.1× 20.0× −4.43% (below 0%: shrinking) +50.65% (above 0%: growing) +17.54% (above 0%: growing) 20.07% 6.52%
MAN ManpowerGroup Inc. $2.2B 18.0× 16.0× +4.44% (above 0%: growing) +86.44% (above 0%: growing) −135.70% (below 0%: shrinking) 15.85% 1.70% Compare
NSP Insperity, Inc. $1.9B — (loss-making) 48.9× +1.69% (above 0%: growing) n/m +147.67% (above 0%: growing) 12.87% 0.36% Compare
KFRC Kforce, Inc. $1.0B 27.1× 21.0× +4.49% (above 0%: growing) +23.73% (above 0%: growing) −145.85% (below 0%: shrinking) 28.47% 5.37% Compare
BBSI Barrett Business Services, Inc. $788.4M 23.4× 24.3× +3.77% (above 0%: growing) −26.39% (below 0%: shrinking) −5.41% (below 0%: shrinking) 20.31% 4.82% Compare
KELYB Kelly Services, Inc. $659.7M — (loss-making) — −5.77% (below 0%: shrinking) −40.38% (below 0%: shrinking) −48.93% (below 0%: shrinking) 20.42% 1.55% Compare
KELYA Kelly Services, Inc. $610.2M — (loss-making) 25.8× −5.77% (below 0%: shrinking) −40.38% (below 0%: shrinking) −48.93% (below 0%: shrinking) 20.42% 1.55% Compare
Median of peers $1.4B 23.4× 24.3× +2.73% −26.39% −27.17% 20.42% 1.63%

All 18 Staffing & Employment Services stocks →

Pay and ownership Proxy statement filed 15 April 2026

Ownership

Directors and executive officers, together 40.00%
Atairos Group, Inc. 39.30%
Michael J. Angelakis 39.30%
Blackrock, Inc. 5.10%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

TriNet Group, Inc. (TNET) Latest News

31 Oct

Impact 3 · · MarketBeat transcript

29 Oct

Impact 4 · · The Motley Fool transcript
Impact 4 · · TIKR
Impact 4 · · PR Newswire
Impact 3 · · Moby
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Associated Press

13 Oct

Impact 4 · · PR Newswire

28 Sep

Impact 3 · · PR Newswire
Impact 3 · · Trefis

11 Aug

Impact 3 ·

7 Aug

Impact 3 · · The Motley Fool transcript

2 Aug

Impact 4 ·
Impact 4 ·

31 Jul

Impact 4 · · Moby
Impact 3 · · MarketBeat transcript

30 Jul

Impact 4 ·
Impact 3 ·
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11 Jun

Impact 3 ·

10 Jun

Impact 3 · · PR Newswire

14 May

Impact 3 ·

4 May

Impact 4 · · Simply Wall St.

2 May

Impact 4 · · MarketBeat

30 Apr

Impact 4 · · Moby
Impact 4 · · Zacks
Impact 4 · · PR Newswire
Impact 3 · · Zacks
stockrow.com/TNET · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com