TriNet Group, Inc. (TNET) Financial Ratios
14 years of historical data (2012–2025) · Industrials · Staffing & Employment Services
EV/EBITDA
↓
3.09
↓-70% vs avg
5yr avg: 10.41
30Y Low5.2·High13.9
P/FCF
↓
6.83
↓-62% vs avg
5yr avg: 18.14
30Y Low8.6·High35.9
P/B Ratio
↑
40.26
-8% vs avg
5yr avg: 43.62
30Y Low5.6·High173.9
ROE
↑
252.0%
↓+90% vs avg
5yr avg: 132.7%
30Y Low43%·High392%
Debt/EBITDA
↑
2.78
↑+47% vs avg
5yr avg: 1.89
30Y Low0.9·High5.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
TNET Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
TriNet Group, Inc. trades at 14.3x earnings, 24% below its 5-year average of 18.8x, sitting at the 8th percentile of its historical range. Compared to the Industrials sector median P/E of 25.6x, the stock trades at a discount of 44%. On a free-cash-flow basis, the stock trades at 6.8x P/FCF, 62% below the 5-year average of 18.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.1B | $2.8B | $4.5B | $6.8B | $4.3B | $6.4B | $5.5B | $4.0B | $3.0B | $3.2B | $1.8B |
| Enterprise Value | $1.1B | $1.8B | $5.2B | $7.6B | $4.5B | $6.3B | $5.6B | $3.1B | $3.2B | $3.3B | $2.1B |
| P/E Ratio → | 14.33 | 18.71 | 26.46 | 18.07 | 12.09 | 18.79 | 20.15 | 18.93 | 15.77 | 17.81 | 30.14 |
| P/S Ratio | 0.42 | 0.57 | 0.90 | 1.38 | 0.89 | 1.41 | 1.36 | 1.04 | 0.87 | 0.97 | 0.60 |
| P/B Ratio | 40.26 | 52.56 | 65.78 | 86.91 | 5.60 | 7.24 | 9.03 | 8.46 | 8.09 | 15.37 | 53.31 |
| P/FCF | 6.83 | 9.28 | 22.58 | 14.42 | 8.58 | 35.86 | 10.75 | 9.44 | — | 14.72 | 17.58 |
| P/OCF | 6.89 | 9.37 | 16.27 | 12.44 | 7.72 | 29.28 | 10.04 | 8.53 | — | 12.51 | 12.76 |
P/E links to full P/E history page with 30-year chart
TNET EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
TriNet Group, Inc.'s enterprise value stands at 3.1x EBITDA, 70% below its 5-year average of 10.4x. The Industrials sector median is 13.8x, placing the stock at a 78% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.37 | 1.03 | 1.55 | 0.93 | 1.39 | 1.39 | 0.80 | 0.92 | 0.99 | 0.69 |
| EV / EBITDA | 3.09 | 5.22 | 13.91 | 12.93 | 7.72 | 12.29 | 13.52 | 9.82 | 11.06 | 13.01 | 13.30 |
| EV / EBIT | 4.09 | 6.58 | 18.06 | 14.10 | 8.71 | 13.70 | 14.06 | 9.88 | 12.82 | 14.99 | 16.99 |
| EV / FCF | — | 6.00 | 25.87 | 16.23 | 8.97 | 35.49 | 11.00 | 7.24 | — | 15.13 | 20.20 |
TNET Profitability
Margins and return-on-capital ratios measuring operating efficiency
TriNet Group, Inc. earns an operating margin of 5.3%, roughly in line with the Industrials sector average. Operating margins have compressed from 9.5% to 5.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. Return on equity of 252.0% is exceptionally high, though this is partly amplified by negative book value driven by aggressive share buybacks — well above the sector median of 8.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.4% | 17.4% | 18.8% | 22.4% | 22.9% | 20.6% | 19.7% | 17.7% | 19.0% | 18.2% | 14.9% |
| Operating Margin | 5.3% | 5.3% | 5.7% | 9.5% | 10.2% | 10.0% | 9.1% | 7.0% | 7.2% | 6.6% | 4.1% |
| Net Profit Margin | 3.1% | 3.1% | 3.4% | 7.6% | 7.3% | 7.4% | 6.7% | 5.5% | 5.5% | 5.4% | 2.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 252.0% | 252.0% | 235.4% | 87.9% | 42.9% | 45.4% | 50.3% | 49.9% | 66.1% | 148.0% | 287.8% |
| ROA | 3.9% | 3.9% | 4.4% | 10.5% | 10.5% | 10.6% | 9.4% | 8.2% | 7.6% | 7.6% | 2.9% |
| ROIC | — | — | 26.0% | 37.0% | 41.8% | 44.0% | 201.5% | 410.2% | 44.1% | 54.0% | 28.6% |
| ROCE | 23.2% | 23.2% | 24.3% | 34.9% | 33.0% | 33.2% | 32.3% | 25.3% | 27.2% | 28.0% | 18.3% |
TNET Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
TriNet Group, Inc. carries a Debt/EBITDA ratio of 2.8x, which is moderately leveraged (14% below the sector average of 3.2x). The company holds a net cash position — cash of $2.0B exceeds total debt of $979M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 5.0x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 18.13 | 18.13 | 14.81 | 14.58 | 0.71 | 0.62 | 0.71 | 0.96 | 1.10 | 2.05 | 13.27 |
| Debt / EBITDA | 2.78 | 2.78 | 2.73 | 1.93 | 0.94 | 1.06 | 1.04 | 1.45 | 1.42 | 1.69 | 2.88 |
| Net Debt / Equity | — | -18.56 | 9.59 | 10.90 | 0.26 | -0.07 | 0.21 | -1.97 | 0.49 | 0.42 | 7.95 |
| Net Debt / EBITDA | -2.85 | -2.85 | 1.77 | 1.44 | 0.34 | -0.13 | 0.31 | -2.98 | 0.64 | 0.35 | 1.73 |
| Debt / FCF | — | -3.27 | 3.29 | 1.81 | 0.39 | -0.37 | 0.25 | -2.20 | — | 0.40 | 2.62 |
| Interest Coverage | 4.98 | 4.98 | 4.65 | 13.53 | 13.36 | 23.05 | 19.00 | 14.86 | 11.41 | 10.85 | 6.24 |
Net cash position: cash ($2.0B) exceeds total debt ($979M)
TNET Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.09x means TriNet Group, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.09 | 1.09 | 1.07 | 1.05 | 1.17 | 1.40 | 1.16 | 1.14 | 1.16 | 1.13 | 1.11 |
| Quick Ratio | 1.09 | 1.09 | 1.07 | 1.05 | 1.17 | 1.40 | 0.38 | 1.14 | 0.46 | 1.30 | 1.11 |
| Cash Ratio | 0.75 | 0.75 | 0.12 | 0.14 | 0.22 | 0.43 | 0.19 | 0.89 | 0.20 | 0.19 | 0.13 |
| Asset Turnover | — | 1.32 | 1.23 | 1.33 | 1.42 | 1.37 | 1.33 | 1.40 | 1.44 | 1.26 | 1.46 |
| Inventory Turnover | — | — | — | — | — | — | 2.23 | — | 2.87 | — | — |
| Days Sales Outstanding | — | 20.69 | 27.52 | 34.48 | 29.44 | 27.25 | 23.89 | 27.83 | 32.82 | 35.44 | — |
TNET Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
TriNet Group, Inc. returns 11.2% to shareholders annually — split between a 2.4% dividend yield and 8.8% buyback yield. The payout ratio of 33.5% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 7.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.4% | 1.8% | 0.8% | — | — | — | — | — | — | — | — |
| Payout Ratio | 33.5% | 33.5% | 21.4% | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.0% | 5.3% | 3.8% | 5.5% | 8.3% | 5.3% | 5.0% | 5.3% | 6.3% | 5.6% | 3.3% |
| FCF Yield | 14.6% | 10.8% | 4.4% | 6.9% | 11.7% | 2.8% | 9.3% | 10.6% | — | 6.8% | 5.7% |
| Buyback Yield | 8.8% | 6.4% | 4.0% | 16.6% | 12.1% | 1.5% | 3.2% | 3.5% | 2.0% | 1.4% | 3.9% |
| Total Shareholder Yield | 11.2% | 8.3% | 4.8% | 16.6% | 12.1% | 1.5% | 3.2% | 3.5% | 2.0% | 1.4% | 3.9% |
| Shares Outstanding | — | $48M | $50M | $57M | $64M | $67M | $68M | $71M | $72M | $71M | $72M |
Peer Comparison
Compare TNET with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 TNETYou | $2B | 14.3 | 3.1 | 6.8 | 17.4% | 5.3% | 252.0% | — | 2.8 |
 PAYX | $35B | 21.4 | 16.0 | 20.0 | 72.4% | 39.6% | 41.8% | 30.9% | 2.1 |
 INSP | $1B | 8.7 | 17.8 | 15.6 | 85.4% | 5.6% | 19.8% | 6.0% | 0.5 |
 BBSI | $811M | 15.8 | 10.5 | 17.2 | 21.0% | 5.0% | 23.5% | 26.1% | 0.3 |
 ADP | $88B | 21.9 | 15.9 | 18.4 | 50.8% | 26.3% | 76.0% | 47.1% | 1.5 |
 HCKT | $262M | 22.1 | 10.2 | 8.1 | 38.3% | 8.7% | 14.1% | 16.4% | 2.5 |
 PAYC | $7B | 15.5 | 8.9 | 16.7 | 78.6% | 27.6% | 27.4% | 30.7% | 0.2 |
 PCTY | $5B | 25.1 | 13.0 | 15.8 | 68.8% | 19.1% | 20.0% | 26.2% | 0.5 |
 TASK | $443M | 4.5 | 2.6 | 6.0 | 32.6% | 11.9% | 18.6% | 16.3% | 1.5 |
 MAN | $2B | -115.7 | 9.5 | — | 16.7% | 1.3% | -0.6% | 5.6% | 7.4 |
 UNH | $364B | 30.3 | 17.9 | 22.6 | 18.5% | 4.2% | 11.8% | 9.2% | 3.4 |
| Industrials Median | — | 25.6 | 13.8 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 14 years · Updated daily
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TNET — Frequently Asked Questions
Quick answers to the most common questions about buying TNET stock.
What is TriNet Group, Inc.'s P/E ratio?
TriNet Group, Inc.'s current P/E ratio is 14.3x. The historical average is 31.9x. This places it at the 8th percentile of its historical range.
What is TriNet Group, Inc.'s EV/EBITDA?
TriNet Group, Inc.'s current EV/EBITDA is 3.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.6x.
What is TriNet Group, Inc.'s ROE?
TriNet Group, Inc.'s return on equity (ROE) is 252.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 150.7%.
Is TNET stock overvalued?
Based on historical data, TriNet Group, Inc. is trading at a P/E of 14.3x. This is at the 8th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is TriNet Group, Inc.'s dividend yield?
TriNet Group, Inc.'s current dividend yield is 2.39% with a payout ratio of 33.5%.
What are TriNet Group, Inc.'s profit margins?
TriNet Group, Inc. has 17.4% gross margin and 5.3% operating margin.
How much debt does TriNet Group, Inc. have?
TriNet Group, Inc.'s Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.