TNET Stock Analysis: TriNet | NYSE
Staffing & Employment Services | NYSE, USA | Market Cap: 3.172m USD | 12M Return: 17.4% | US8962881079 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 20.7M
EPS Trend: -85.4%
Qual. Beats: 2
Rev. Trend: 17.6%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
TriNet Group, Inc. (TNET) is a U.S.-based provider of comprehensive human capital management services tailored to small and medium-sized businesses. The company delivers multi-state payroll processing, tax administration, employee benefits programs (including health insurance and retirement plans), workers compensation coverage, HR-related legal support, and compliance services. It also offers a proprietary online and mobile technology platform that enables clients to handle payroll, onboarding, time and attendance, benefits enrollment, expense management, and custom HR analytics reporting. TriNet sells its solutions through a direct sales force and serves clients across multiple industries, including technology, professional services, financial services, life sciences, and not-for-profit. The company was founded in 1988, is headquartered in Dublin, California, and went public on the NYSE in March 2014.
TriNet operates within the Human Resource & Employment Services sub-industry, which falls under the broader Industrials GICS sector. Its business model is anchored in the professional employer organization (PEO) structure, under which TriNet co-employs client workforces, allowing smaller businesses to access enterprise-level benefits, payroll tax handling, and HR infrastructure that they would otherwise lack the scale to obtain on their own.
- WSE count growth drives co-employment and benefits revenue
- Rising healthcare costs pressure benefits pass-through margins
- Competition intensifies from Gusto and Rippling platforms
- Active share repurchase program supports per-share metrics
| Net Income: 175.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA -7.83 > 1.0 |
| NWC/Revenue: 5.63% < 20% (prev 4.99%; Δ 0.64% < -1%) |
| CFO/TA 0.11 > 3% & CFO 370.0m > Net Income 175.0m |
| Net Debt (646.0m) to EBITDA (379.0m): 1.70 < 3 |
| Current Ratio: 1.13 > 1.5 & < 3 |
| Outstanding Shares: last quarter (47.0m) vs 12m ago -4.08% < -2% |
| Gross Margin: 19.10% > 18% (prev 18.42%; Δ 0.69% > 0.5%) |
| Asset Turnover: 138.9% > 50% (prev 138.1%; Δ 0.77% > 0%) |
| Interest Coverage Ratio: 5.59 > 6 (EBIT TTM 302.0m / Interest Expense TTM 54.0m) |
| A: 0.08 (Total Current Assets 2.38b - Total Current Liabilities 2.11b) / Total Assets 3.35b |
| B: -0.31 (Retained Earnings -1.05b / Total Assets 3.35b) |
| C: 0.09 (EBIT TTM 302.0m / Avg Total Assets 3.52b) |
| D: 0.04 (Book Value of Equity 125.0m / Total Liabilities 3.22b) |
| Altman-Z'' = 0.14 = B |
| DSRI: 0.90 (Receivables 431.0m/499.0m, Revenue 4.88b/5.09b) |
| GMI: 0.96 (GM 18.42% / 19.10%) |
| AQI: 1.12 (AQ_t 0.27 / AQ_t-1 0.24) |
| SGI: 0.96 (Revenue 4.88b / 5.09b) |
| TATA: -0.06 (NI 175.0m - CFO 370.0m) / TA 3.35b) |
| Beneish M = -3.10 (Cap -4..+1) = AA |
As of October 22, 2026, the stock is trading at USD 71.03 with a total of 298,908 shares traded. Over the past week, the price has changed by +5.92%, over one month by +7.05%, over three months by +19.05% and over the past year by +17.38%.
Current recommended Stop Loss: 68.30 (which is 3.8% or 1.2 ATR below the current price).
TriNet has received a consensus analysts rating of 3.43. Therefore, it is recommended to hold TNET.
- StrongBuy: 2
- Buy: 0
- Hold: 4
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 66.2 | -6.8% |
P/E Trailing = 18.375
P/E Forward = 11.6959
P/S = 0.657
P/B = 23.9586
P/EG = 7.216
Revenue TTM = 4.88b USD
EBIT TTM = 302.0m USD
EBITDA TTM = 379.0m USD
Long Term Debt = 896.0m USD (from longTermDebt, last quarter)
Short Term Debt = 10.0m USD (from shortTermDebt, last quarter)
Debt = 1.00b USD (from shortLongTermDebtTotal, last quarter) + Leases 54.0m
Net Debt = 646.0m USD (calculated: Debt 1.00b - CCE 358.0m)
Enterprise Value = 3.82b USD (3.17b + Debt 1.00b - CCE 358.0m)
Interest Coverage Ratio = 5.59 (Ebit TTM 302.0m / Interest Expense TTM 54.0m)
EV/FCF = 11.71x (Enterprise Value 3.82b / FCF TTM 326.0m)
FCF Yield = 8.54% (FCF TTM 326.0m / Enterprise Value 3.82b)
FCF Margin = 6.67% (FCF TTM 326.0m / Revenue TTM 4.88b)
Net Margin = 3.58% (Net Income TTM 175.0m / Revenue TTM 4.88b)
Gross Margin = 19.10% ((Revenue TTM 4.88b - Cost of Revenue TTM 3.95b) / Revenue TTM)
Gross Margin QoQ = 20.88% (prev 24.47%)
Tobins Q-Ratio = 1.14 (Enterprise Value 3.82b / Total Assets 3.35b)
Interest Expense / Debt = 5.38% (Interest Expense 54.0m / Debt 1.00b)
Taxrate = 29.44% (73.0m / 248.0m)
NOPAT = 213.1m (EBIT 302.0m * (1 - 29.44%))
Current Ratio = 1.13 (Total Current Assets 2.38b / Total Current Liabilities 2.11b)
Debt / Equity = 8.03 (Debt 1.00b / totalStockholderEquity, last quarter 125.0m)
Debt / EBITDA = 1.70 (Net Debt 646.0m / EBITDA 379.0m)
Debt / FCF = 1.98 (Net Debt 646.0m / FCF TTM 326.0m)
Total Stockholder Equity = 93.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.98% (Net Income 175.0m / Total Assets 3.35b)
RoE = 188.2% (Net Income TTM 175.0m / Total Stockholder Equity 93.0m)
RoCE = 30.54% (EBIT 302.0m / Capital Employed (Equity 93.0m + L.T.Debt 896.0m))
RoIC = 21.25% (NOPAT 213.1m / Invested Capital 1.00b)
WACC = 4.79% (E(3.17b)/V(4.18b) * Re(5.11%) + D(1.00b)/V(4.18b) * Rd(5.38%) * (1-Tc(0.29)))
Discount Rate = 5.11% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -98.47 | Cagr: -3.57%
[DCF] Terminal Value 73.10% ; FCFF base≈454.8m ; Y1≈398.8m ; Y5≈322.2m
[DCF] Fair Price = 98.60 (EV 5.17b - Net Debt 646.0m = Equity 4.53b / Shares 45.9m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -85.40 | EPS CAGR: -16.95% | SUE: 2.34 | # QB: 2
Revenue Correlation: 17.56 | Revenue CAGR: 0.31% | SUE: -0.00 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.57 | Chg30d=-4.72% | Revisions=-67% | Analysts=6
EPS current Year (2026-12-31): EPS=4.87 | Chg30d=+0.24% | Revisions=+25% | GrowthEPS=+2.9% | GrowthRev=-3.9%
EPS next Year (2027-12-31): EPS=4.92 | Chg30d=+0.26% | Revisions=+25% | GrowthEPS=+1.1% | GrowthRev=+3.9%
[Analyst] Revisions Ratio: -36% (up=2, down=6)