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Trinet Group (TNET) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Trinet Group (TNET) Q3 2026 earnings results →
Q3 2026 Revenue down 5% year over year to $1.2B · 3¢ of every $1 of revenue kept as net profit · operating margin 3.3%
Trinet Group made $1.2B in Q3 2026 (-5% Y/Y). Operating margin 3.3%, net earnings $31.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.2B in Q3 2026, down 5% year over year and roughly flat from the previous quarter.
Operating profit was $0.04B, a 3.3% margin (down 0.7 points year over year). Total costs fell 4% while revenue fell 5%. The fastest-growing cost line was Research & development (+11%). Net earnings were $0.03B, down 9% year over year. The effective tax rate was 20.5%.
Operating cash flow was $0.08B (up 11% year over year), 258% of net earnings. Non-cash charges added back $0.02B of share-based compensation. Working capital and other items added $0.03B. After acquisitions of property and equipment and software ($0.03B), free cash flow as the company reports it was $0.05B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $1.2B | -5% | 3.3% | $31.0M | $80.0M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $1.2B | -5% | 6.3% | $53.0M | $88.0M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $1.2B | -5% | 10.0% | $89.0M | $149M |
| Q4 2025 | 10-K | Feb 12, 2026 | $1.2B | -2% | 0.1% | −$1.0M | $61.0M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $1.2B | -2% | 4.1% | $34.0M | $72.0M |
| Q2 2025 | 10-Q | Jul 25, 2025 | $1.2B | -0.4% | 4.1% | $37.0M | $75.0M |
| Q1 2025 | 10-Q | Apr 25, 2025 | $1.3B | +0.8% | 8.9% | $85.0M | $95.0M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Trinet Group
TriNet is a leading provider of HR solutions for SMBs. We offer technology-enabled services that include human capital expertise, employee benefits such as health insurance and retirement plans, payroll and payroll tax administration, risk mitigation, and compliance consulting. Our long-term objective is to be the premier provider of HR services for a broad range of SMBs through industry-leading benefits, sales distribution excellence, and a world-class services delivery model. Since our founding in 1988, TriNet has served, and continues to serve, thousands of SMBs. We are the largest publicly traded company in the U.S. that focuses primarily on the PEO business, in terms of market capitalization as of December 31, 2025. In 2025, we processed $70 billion in payroll and payroll taxes for our clients and ended the year with approximately 323,200 WSEs.
In its own words, from its 10-K, filed Feb 12, 2026.
Trinet Group against its Services-Business Services, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -5% against the peers' median +10%. Operating margin: 3.3% against the peers' median 9.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TNET Trinet Group | Q3 2026 | $1.2B | -5% | 3.3% |
| ACN Accenture | Q4 FY26 | $18.7B | +6% | 15.3% |
| UBER Uber Technologies | Q3 2026 | $14.8B | +10% | 9.8% |
| V Visa | Q4 FY26 | $12.1B | +13% | 59.8% |
| MELI MercadoLibre | Q3 2026 | $10.8B | +45% | 6.3% |
| MA Mastercard | Q3 2026 | $9.8B | +14% | 59.8% |
| PYPL PayPal Holdings | Q3 2026 | $8.6B | +2% | 16.3% |
| FISV Fiserv | Q3 2026 | $5.2B | -1% | -105.7% |
| DASH DoorDash | Q3 2026 | $4.6B | +34% | 9.6% |
Source: Trinet Group 10-Q on SEC EDGAR · CIK 937098 · Services-Business Services, NEC
13F: who owns TNET and who is buying
More on TNET
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results