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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. In the quarter to June 2026, revenue fell 4.43%, EPS grew 50.7%, free cash flow grew 17.5% and total debt fell 8.94%, each against the same quarter a year earlier. Dividend growth for three consecutive years; insiders bought in the last twelve months.

65.45 1.04 −1.56%
Market cap
$3.1B
P/E
17.5×
Fwd P/E
15.7×
Dividend yield
1.75%
F-score
6/9
Altman Z
1.61
Beneish M
−2.81
Dividend safety
85/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.19
Total sells 0.98
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — 1 — — — — — — —
Sell 4 — 1 1 — 1 1 — — 4 — —
Insider Ownership 2.59%

Capital & Financial Ratios $m

Market Cap 3,050.00
Revenue 4,827.00
Net Income 175.00
Free Cash Flow 288.00
Net Debt (501.00)
Current Ratio 1.13
Debt/Equity 7.17 (above 2: weak)
P/E ratio 17.45
Fwd P/E 15.70
P/S ratio 0.62
P/B ratio 24.09 (above 6: high)
Past 5Y EPS Growth (4.32%) (below 0%: weak)
This Y EPS Growth 2.89%
Next Y EPS Growth 1.13%
Next Y revenue growth (2.59%) (below 0%: weak)
Next 5Y EPS Growth 5.29%

Green and red mark values outside typical ranges. 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 36.56%
10-year low 10-year high
P/S against its own 10 years 19.50%
10-year low 10-year high
P/B against its own 10 years 58.05%
10-year low 10-year high
EV/Sales against its own 10 years 13.55%
10-year low 10-year high
EV/FCF against its own 10 years 35.67%
10-year low 10-year high

Dividends

Payout Ratio 0.31
Annual Dividend Rate 1.15
Annual Dividend Yield 1.75%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.15
0.28
0.29
0.29
0.29
2025 1.08
0.25
0.28
0.28
0.28
2024 0.75
0.25
0.25
0.25
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,621 1,773 1,981 1,397
Receivables 465 381 284 431
Inventory — — — —
Other 425 962 521 503
2,578 3,180 2,868 2,384
2023 2024 2025 Q'26
Payables 87 89 86 103
ST’ Debt 109 75 — —
Other 1,503 1,982 1,728 1,210
2,463 2,981 2,637 2,109

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%)

Revenue $m

Mar Jun Sep Dec Year
’26 1,212 1,166 — — —
’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 — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 1.90 1.15 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

2.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 11.10 24.09 38.26 39.52 27.79 69.43 60.61 68.08 74.32 54.22

Analyst estimates 2026–2028

Powerpack
High 26.64 45.25 60.15 76.92 83.82 109.40 103.36 123.67 134.67 97.02
People
People Employees 2,600 2,700 3,100 2,900 2,700 2,800 3,600 3,600 3,600 3,400
Revenue/emp, $m 1.18 1.21 1.13 1.33 1.49 1.62 1.36 1.37 1.39 1.45
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
Gross margin, % 14.90 18.20 18.96 17.74 19.66 20.64 22.91 22.39 17.80 16.57
EBT 104 200 241 270 357 441 482 501 226 217
EBT margin, % 3.40 6.11 6.88 7.00 8.85 9.71 9.87 10.18 4.53 4.39
Net income 61 178 192 212 272 338 355 375 173 155
Depreciation 39 35 46 72 83 97 127 121 130 122
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
Earnings 0.88 2.57 2.72 3.04 4.03 5.13 5.66 6.61 3.47 3.20
Cash flow 2.74 8.78 (1.49) 6.73 8.15 3.30 7.89 9.46 5.58 6.31
Capex 0.00 (0.55) (0.61) (0.64) (0.54) (0.61) (0.89) (1.32) (1.56) (1.44)
Free cash flow 2.74 8.23 (2.10) 6.09 7.61 2.70 7.00 8.14 4.02 4.88
Book value 0.50 2.99 5.36 6.79 9.06 13.35 12.30 1.37 1.38 1.13
Shares, m 70 69 70 70 67 66 63 57 50 48
Valuation, ×
Valuation, × P/E 29.19 16.90 15.42 18.56 20.05 18.57 12.35 17.97 26.31 18.59
P/S 0.59 0.92 0.84 1.03 1.34 1.38 0.89 1.36 0.91 0.57
P/B 51.50 14.55 7.83 8.34 8.90 7.14 5.64 86.13 65.78 52.56
EV/Sales 0.67 0.55 0.61 0.75 1.00 1.07 0.65 1.26 0.75 0.37
EV/FCF 12.91 3.18 (14.46) 6.79 7.89 27.25 7.23 13.34 18.65 7.87
Cash, $m
Cash, $m Operating cash flow 192 606 (104) 471 546 218 497 539 279 303
Capex (40) (38) (43) (45) (36) (40) (56) (75) (78) (69)
Free cash flow 192 568 (147) 426 510 178 441 464 201 234
Balance, $m
Balance, $m Working capital 156 234 221 228 290 700 338 115 199 231
Total debt 459 423 413 391 370 506 511 1,093 983 895
Net debt 260 (1,193) (811) (1,070) (1,376) (1,436) (1,182) (528) (790) (1,086)
Shareholders’ equity 35 206 375 475 607 881 775 78 69 54
Returns, %
Returns, % ROA 2.91 7.59 7.64 8.18 9.39 10.64 10.52 10.51 4.43 3.92
ROIC 26.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ROE 283.19 147.72 66.09 49.88 50.28 45.43 42.87 87.92 235.37 252.03
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
KFY Korn/Ferry International $4.0B 13.3× 12.9× +6.86% (above 0%: growing) +5.47% (above 0%: growing) −2.15% (below 0%: shrinking) 25.61% 12.21% Compare
RHI Robert Half Inc. $3.5B 29.5× 23.8× −2.44% (below 0%: shrinking) −36.59% (below 0%: shrinking) −2.55% (below 0%: shrinking) 35.47% (4.66%) Compare
TNET TriNet Group, Inc. $3.1B 17.5× 15.7× −4.43% (below 0%: shrinking) +50.65% (above 0%: growing) +17.54% (above 0%: growing) 20.07% 6.52%
MAN ManpowerGroup Inc. $2.5B 23.7× 12.0× +7.54% (above 0%: growing) n/m +96.09% (above 0%: growing) 16.05% 2.30% Compare
NSP Insperity, Inc. $1.9B — (loss-making) 40.1× +1.69% (above 0%: growing) n/m +147.67% (above 0%: growing) 12.87% 0.36% Compare
KFRC Kforce, Inc. $937.5M 24.2× 19.4× +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. $779.9M 22.8× 21.5× +3.77% (above 0%: growing) −26.39% (below 0%: shrinking) −5.41% (below 0%: shrinking) 20.31% 4.82% Compare
HHR HeadHunter Group PLC Sponsored ADR $761.1M 6.5× 7.9× +4.60% (above 0%: growing) n/m +41.15% (above 0%: growing) 56.09% 51.95% 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
Median of peers $1.4B 23.3× 19.4× +4.13% −26.39% −2.35% 23.02% 3.56%

All 19 Staffing & Employment Services stocks →

TriNet Group, Inc. (TNET) key facts

  • Concern: TriNet Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.9 billion, down 0.92% from fiscal 2024.
  • TriNet Group, Inc. (TNET) is a Staffing & Employment Services company in the Industrials sector, listed on the New York Stock Exchange.
  • As of October 9, 2026, TNET traded at $65.45, a market capitalization of $3.1 billion.
  • TriNet Group, Inc. pays an annual dividend of $1.15 per share, a yield of 1.75%, with a payout ratio of 30.6%.
  • Return on equity was 252.0% and debt-to-equity 7.17.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 1.61 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

TriNet Group, Inc. (TNET) Latest News

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stockrow.com/TNET · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com