TriNet Group Stock: Bullish On Company, Not On Stock (NYSE:TNET)

Trinet Group Inc. (NYSE:TNET) works primarily with SMBs, helping them outsource HR, payroll, and more. Founded in 1988, they became public in 2014. Below is their share price performance since IPO:

Company

Revenue 10-Year CAGR

Median 10-Year ROE

Median 10-Year ROIC

EPS 10-Year CAGR

FCF/Share 10-Year CAGR

TNET

17%

47.7%

25.5%

28.3%

19.7%

PAYX

8%

41.3%

36.6%

10.7%

7.6%

ADP

6.7%

43.8%

30%

11%

11.9%

PCTY

31.3%

16.5%

13.8%

n/a

73.6%

NSP

10.6%

160.6%

36.2%

19.5%

33.5%

Year

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

EBIT

66

87

78

124

217

251

268

368

455

499

FCF

90

133

112

105

215

-147

426

510

178

506

Acquisitions

195

0

5

12

29

Debt Repayment

452

274

46

37

38

22

22

256

370

Repurchases

7

37

62

28

47

129

168

83

512

SBC

6

11

18

26

32

44

41

43

50

62

Company

EV/Sales

EV/EBITDA

EV/FCF

P/B

Div Yield

TNET

1.2

10.1

13.1

6.4

n/a

PAYX

8.1

18.3

25.7

11.8

2.9%

ADP

5.7

23.2

27.1

27.9

2%

PCTY

8.2

44.9

37.1

11.8

n/a

NSP

0.5

11.8

15.1

27.4

2.4%

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