# TriNet Group, Inc. (TNET)

> Source: Nexqual · https://nexqual.com/TNET · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, TriNet Group, Inc. (TNET), nexqual.com/TNET" · informational, not investment advice.

**Price:** USD 74.62 (+5.05% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 71.03 · day 71.5–74.79 · 52w 33.61–74.79 · market cap $3.43B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.88B, net income $175M (3.6% margin), free cash flow $288M (SEC filings).
- Valuation: P/E 19.6x (avg 21.0x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $732K; 2 not under a Rule 10b5-1 plan ($564K); 0 by opportunistic insiders, 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $189K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (7 analysts), mean target USD 66.2 (range 50–82).
- Total return with dividends: 1Y +21.8% vs S&P 500 +14.9%; 5Y -19.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 0.57, revenue estimate $1.18B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.54B | $4.91B | $4.99B | $5.05B | $5.01B | $4.88B |
| Operating income | $455M | $499M | $469M | — | — | — |
| Net income | $338M | $355M | $375M | $173M | $155M | $175M |
| EPS (diluted) | $5.07 | $5.61 | $6.56 | $3.43 | $3.20 | — |
| Free cash flow | $178M | $441M | $464M | $201M | $234M | $288M |
| Operating margin | 10.0% | 10.2% | 9.4% | — | — | — |
| Net margin | 7.4% | 7.2% | 7.5% | 3.4% | 3.1% | 3.6% |
| Revenue growth | +12.5% | +8.1% | +1.8% | +1.2% | -0.9% | — |
| Cash + short-term investments | $747M | $430M | $352M | $360M | — | — |
| Total debt | $495M | $496M | $984M | $908M | $895M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 19.6x · P/S 0.7x · P/FCF 11.9x · P/B 27.4x · FCF yield 8.41% · Earnings yield 5.11% · Dividend yield (paid, TTM) 1.52% · Buyback yield (TTM) 4.90%
P/E at fiscal year-ends: Dec 2025 18.7x, Dec 2024 26.2x, Dec 2023 18.1x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
3 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-27 | Chamberlain Paul Edward | Director | 2,400 | $167K | 5.6% | No | Routine (sold in Feb each year 2023–2025; this trade is outside those months) |
| 2026-08-20 | Majalya Sidney A. | SVP, CLO and Secretary | 775 | $53K | 1.4% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-19 | Treadway Anthony Shea | SVP, Chief Revenue Officer | 1,068 | $75K | 1.6% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-04 | Lowell Wayne B | Director | 5,773 | $397K | 6% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-19 | Treadway Anthony Shea | SVP, Chief Revenue Officer | 933 | $41K | 1.4% | Yes | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $189K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-03-04 | Evanko Brian C | Director | 5,000 | $189K | 37.7 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 7 analysts; mean target USD 66.2 (low 50, high 82).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-31 | JP Morgan | Target raised | Underweight | $45 → $50 |
| 2026-07-22 | Truist Securities | Target raised | Hold | $50 → $62 |
| 2026-06-26 | TD Cowen | Target raised | Hold | $46 → $49 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +21.8% | -19.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +21.9% | -4.3% |
| Volatility (annualized) | 49.5% | 38.8% |
| Max drawdown | -46.8% (Jan 2026→Feb 2026) | -73.0% (Mar 2024→Apr 2026) |

## Peers (Staffing & Employment Services)
RHI (Robert Half Inc.) USD 37.68 +8.78% · KFY (Korn Ferry) USD 76.35 +4.49% · MAN (ManpowerGroup) USD 46.6 +4.39% · NSP (Insperity, Inc.) USD 53.48 +6.58% · KFRC (Kforce, Inc.) USD 53.66 +4.40% · KELYB (Kelly Services, Inc.) USD 26 +0.00%

## More
Full page: https://nexqual.com/TNET · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Insurance Services | $1.01B | 85.5% | -3.9% |
| Professional Services | $159.0M | 13.5% | -7.6% |
| Total revenue | $1.18B | 100% | — |

## Company outlook (8-K filed 2026-07-30)

- "Guidance 50% Growth in GAAP Earnings per Diluted Share to $1.15 for the Second Quarter 2026 35% Growth in Adjusted Net Income per Diluted Share to $1.55 for the Second Quarter 2026 DUBLIN, Calif. — July 30, 2026 — TriNet Group, Inc."
- "Full-Year 2026 Guidance In addition to announcing our second quarter 2026 results, we ar"

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.57 | $0.83 | -30.9% | $1.18B | 6 |
| Next quarter (ends 2026-12-31) | $0.25 | $0.31 | -18.1% | $1.23B | 6 |
| Current fiscal year (ends 2026-12-31) | $4.87 | $4.56 | +6.6% | $4.82B | 7 |
| Next fiscal year (ends 2027-12-31) | $4.92 | $4.85 | +1.5% | $5.00B | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-29): ±11.3%; last 8 reports averaged ±7.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 50.2% | ±11.3% |
| 2026-12-18 | 56 | 49.3% | ±15.5% |
| 2027-03-19 | 147 | 50.1% | ±25.1% |
| 2027-06-17 | 237 | 50.6% | ±31.8% |