What is Trinet Group's return on invested capital?

Trinet Group (TNET) reported return on invested capital of 116.3% in Q3 2024.

What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

Trinet Group TNET Return on invested capital

Return on invested capital at other companies

Automatic Data Processing, Inc.ADP

66.7%-10.3pp

PaychexPAYX

26.6%-5.9pp

Barrett Business ServicesBBSI

17.8%-6.6pp

InsperityNSP

-3.2%—

ROP

Roper Technologies, Inc.ROP

6.6%+0.3pp

Carpenter TechnologyCRS

21.8%+3.7pp

Other financials

Income statement

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Revenue$1.2B-5.1%

Operating income$58.0M-50.0%

Net income$89.0M+4.7%

EPS (diluted)$1.90+11.1%

Balance sheet

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Cash & equivalents$1.4B+8.4%

Total debt$946.0M+0.1%

Total equity$83.0M+31.7%

Total assets$3.4B-9.4%

Cash flow

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Operating cash flow$149.0M+56.8%

CapEx$26.0M+62.5%

Free cash flow$123.0M+55.7%

Valuation

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Market cap$2.17B-40.0%

Enterprise value$1.72B-47.4%

P/E13.6×—

P/S0.4×-0.3×

Profitability

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Gross margin93.6%—

Operating margin6.8%-2.1pp

Net margin3.2%—

FCF margin5.6%+1.5pp

Returns & leverage

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Return on equity219.2%—

Debt / equity11.4×-3.6×

Current ratio1.1×0.0×

Where this comes from

Calculated from Trinet Group’s reported figures.

nopat/invested capital=116.3%

Based on trailing twelve months.

The official record: Trinet Group’s 10-Q, filed October 29, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Trinet Group's return on invested capital?: Trinet Group (TNET) reported return on invested capital of 116.3% in Q3 2024.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.