TriNet Group, Inc. (TNET) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 149M | 61M | 72M | 75M | 95M | 555M | -31M | -123M | 91M | 582M | -110M | 144M | -77M | 486M | -49M | -89M | 214M | 234M | 184M | -15M |
| Operating CF Margin % | 12.15% | 4.89% | 5.84% | 6.06% | 7.35% | 41.86% | -2.51% | -9.9% | 7.1% | 46.75% | -9% | 11.91% | -6.18% | 39.64% | -3.95% | -7.42% | 17.57% | 18.99% | 16.03% | -1.36% |
| Operating CF Growth % | 56.84% | -89.01% | 332.26% | 160.98% | 4.4% | -4.64% | 71.82% | -185.42% | 218.18% | 19.75% | -124.49% | 261.8% | -135.98% | 107.69% | -126.63% | -493.33% | 222.29% | -60.07% | 104.44% | -109.87% |
| Net Income | 89M | -1M | 34M | 37M | 85M | -23M | 44M | 60M | 91M | 67M | 94M | 83M | 131M | 48M | 77M | 85M | 146M | 69M | 77M | 91M |
| Depreciation & Amortization | 19M | 18M | 19M | 17M | 19M | 26M | 20M | 30M | 20M | 32M | 20M | 6M | 20M | 39M | 28M | 19M | 24M | 23M | 13M | 22M |
| Stock-Based Compensation | 16M | 17M | 17M | 18M | 13M | 12M | 15M | 18M | 20M | 0 | 15M | 17M | 11M | 16M | 16M | 0 | 12M | 13M | 0 | 0 |
| Deferred Taxes | 0 | 48M | -2M | 0 | -1M | -5M | 3M | 0 | 0 | 7M | -22M | 37M | 0 | -23M | 0 | -2M | 2M | -9M | 0 | 0 |
| Other Non-Cash Items | 25M | 14M | 13M | 12M | 15M | 37M | 13M | 1M | 12M | 20M | 32M | -16M | 13M | 5M | 29M | 27M | 2M | -1M | 24M | 20M |
| Working Capital Changes | 0 | -35M | -9M | -9M | -36M | 508M | -126M | -232M | -52M | 456M | -249M | 17M | -252M | 401M | -199M | -218M | 28M | 139M | 70M | -148M |
| Change in Receivables | 0 | -1M | 0 | 0 | 1M | 60M | 37M | -21M | -1M | 30M | -44M | -4M | 8M | -23M | -52M | 9M | 15M | -7M | 41M | -9M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -19M | 0 | -56M | 0 | 103M | 0 | 0 | 0 | 0 | 0 | 144M | 0 | 0 |
| Change in Payables | 0 | -4M | 5M | 6M | -11M | 6M | -2M | -31M | 24M | -19M | 9M | -30M | 30M | -18M | 3M | -8M | 10M | 14M | -10M | -4M |
| Cash from Investing | -13M | -16M | -20M | 1M | -8M | 178M | 24M | -2M | -47M | -13M | -26M | -8M | -23M | -21M | -14M | 22M | -213M | 10M | -10M | -132M |
| Capital Expenditures | 6M | -18M | -17M | 19M | -16M | -18M | -25M | -17M | -18M | -21M | -20M | -17M | -17M | -17M | -13M | -15M | -11M | -11M | -12M | -12M |
| CapEx % of Revenue | 0.49% | 1.44% | 1.38% | 1.53% | 1.24% | 1.36% | 2.02% | 1.37% | 1.4% | 1.69% | 1.64% | 1.41% | 1.36% | 1.39% | 1.05% | 1.25% | 0.9% | 0.89% | 1.05% | 1.09% |
| Acquisitions | 0 | 0 | 0 | 0 | 1M | 0 | 0 | 0 | 0 | 0 | 6M | 31M | 0 | -10M | -36M | 0 | -183M | 40M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -32M | 0 | 0 | -37M | 0 | 0 | 0 | 0 | 0 | -5M | -6M | -31M | 0 | 0 | 0 | 0 | 0 | -40M | 0 | 0 |
| Cash from Financing | -645M | 511M | -132M | 66M | -494M | 10M | -39M | -148M | -243M | -17M | -423M | -300M | 200M | -144M | -7M | -32M | -353M | -8M | -33M | -13M |
| Debt Issued (Net) | 0 | 0 | -90M | 0 | 0 | -85M | 0 | -25M | 0 | 0 | 591M | -295M | 295M | 0 | 0 | 0 | 0 | 0 | -10M | 0 |
| Equity Issued (Net) | 0 | -56M | -32M | 6M | -90M | -22M | -21M | -105M | -23M | -7M | -1.02B | -12M | -91M | -135M | 0 | -27M | -350M | -13M | -19M | -9M |
| Dividends Paid | -13M | -13M | -13M | -14M | -12M | -12M | -12M | -13M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -58M | -61M | -31M | -1M | -90M | -28M | -20M | -112M | -23M | -13M | -1.01B | -12M | -91M | -140M | -1M | -32M | -350M | 0 | -20M | -14M |
| Other Financing | -632M | 580M | 3M | 74M | -392M | 129M | -6M | -5M | -220M | -10M | 2M | 7M | -4M | -9M | -7M | -5M | -3M | 5M | -4M | -4M |
| Net Change in Cash | 0 | 556M | -80M | 135M | -407M | 743M | -46M | -287M | -199M | 553M | -559M | -164M | 100M | 320M | -70M | -90M | -352M | 236M | 143M | -159M |
| Free Cash Flow | 155M | 43M | 55M | 77M | 96M | 537M | -56M | -140M | 73M | 561M | -130M | 127M | -94M | 469M | -62M | -104M | 203M | 223M | 172M | -27M |
| FCF Margin % | 12.64% | 3.45% | 4.46% | 6.22% | 7.43% | 40.5% | -4.53% | -11.26% | 5.69% | 45.06% | -10.64% | 10.5% | -7.54% | 38.25% | -5% | -8.67% | 16.67% | 18.1% | 14.98% | -2.45% |
| FCF Growth % | 61.46% | -91.99% | 198.21% | 155% | 31.51% | -4.28% | 56.92% | -210.24% | 177.66% | 19.62% | -109.68% | 222.12% | -146.31% | 110.31% | -136.05% | -285.19% | 212.78% | -61.35% | 112.35% | -119.29% |
| FCF per Share | 3.30 | 0.90 | 1.15 | 1.57 | 1.96 | 10.74 | -1.12 | -2.75 | 1.43 | 11.00 | -2.24 | 2.12 | -1.57 | 7.56 | -0.98 | -1.65 | 3.08 | 3.33 | 2.57 | -0.40 |
| FCF Conversion (FCF/Net Income) | 1.67x | -61.00x | 2.12x | 2.03x | 1.12x | -24.13x | -0.69x | -2.05x | 1.00x | 8.69x | -1.17x | 1.73x | -0.59x | 10.13x | -0.64x | -1.05x | 1.47x | 3.39x | 2.39x | -0.16x |
| Interest Paid | 0 | 1M | 24M | 2M | 0 | 4M | 25M | 4M | 26M | 0 | 9M | 1M | 11M | 0 | 9M | 0 | 9M | 1M | 0 | 0 |
| Taxes Paid | 0 | 0 | 1M | 26M | 0 | 9M | 5M | 55M | 7M | 0 | 31M | 54M | 4M | 68M | 23M | 0 | 0 | 46M | 0 | 0 |