TNET FY 2015 Earnings Report — TriNet Group, Inc. Revenue & Financial Results | Market Cap Arena

TriNet Group, Inc.TNET

FY 2015 Earnings

Reported March 31, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$2.7B	—	$2.2B	—	21.2%
Op. Income	$78M	—	$87M	—	-9.8%
Gross Margin	14.9%	—	17.0%	—	-2.1pp
Net Margin	1.2%	—	0.7%	—	0.5pp
EPS (Diluted)	$0.44	—	$0.22	—	100.0%
Free Cash Flow	$112M	—	$133M	—	-15.9%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$2.3B
GROSS PROFIT	$396M
R&D Expenses	$28M
Selling & Marketing	$167M
General & Administrative	$70M
SG&A Expenses	$236M
Other Expenses	$1M
Operating Expenses	$318M
Cost & Expenses	$2.6B
OPERATING INCOME	$78M
Interest Income	$0
Interest Expense	$19M
Other Income/Expenses	-$18M
INCOME BEFORE TAX	$60M
Income Tax Expense	$28M
Net Income from Continuing Ops	$32M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$32M
Net Income Deductions	-$305.0K
BOTTOM LINE NET INCOME	$32M
D&A	$53M
EBIT	$79M
EBITDA	$133M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$2.3B
GROSS PROFIT	$396M
R&D Expenses	$28M
Selling & Marketing	$167M
General & Administrative	$70M
SG&A Expenses	$236M
Other Expenses	$1M
Operating Expenses	$318M
Cost & Expenses	$2.6B
OPERATING INCOME	$78M
Interest Income	$0
Interest Expense	$19M
Other Income/Expenses	-$18M
INCOME BEFORE TAX	$60M
Income Tax Expense	$28M
Net Income from Continuing Ops	$32M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$32M
Net Income Deductions	-$305.0K
BOTTOM LINE NET INCOME	$32M
D&A	$53M
EBIT	$79M
EBITDA	$133M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$32M
Depreciation & Amortization	$53M
Stock-Based Compensation	$18M
Deferred Income Tax	$15M
Other Non-Cash Items	-$21M
Change in Working Capital	$35M
OPERATING CASH FLOW	$131M
Capital Expenditure	-$19M
Acquisitions (Net)	-$5M
Purchases of Investments	-$42M
Sales/Maturities of Investments	$28M
Other Investing Activities	-$14M
NET CASH FROM INVESTING	-$38M
Net Debt Issuance	-$45M
Common Stock Repurchased	-$48M
Common Dividends Paid	$0
Other Financing Activities	$20M
NET CASH FROM FINANCING	-$61M
FREE CASH FLOW	$112M
Net Change in Cash	$32M

Balance Sheet

Item	Amount
Cash & Equivalents	$166M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$1.4B
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$38M
Goodwill	$289M
Intangible Assets	$47M
Long-Term Investments	-$3M
Tax Assets	$55M
Other Non-Current Assets	$102M
TOTAL NON-CURRENT ASSETS	$528M
TOTAL ASSETS	$2.1B
Account Payables	$13M
Short-Term Debt	$33M
Deferred Revenue	$1.4B
Other Current Liabilities	$11M
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$461M
Deferred Revenue NC	$105M
Deferred Tax Liabilities	$55M
Other Non-Current Liabilities	$168M
TOTAL NON-CURRENT LIABILITIES	$632M
TOTAL LIABILITIES	$2.1B
Common Stock	$494M
Additional Paid-In Capital	$0
Retained Earnings	-$486M
Treasury Stock	$0
Accum. Other Comp. Income	-$721.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8M
Minority Interest	$0
TOTAL EQUITY	$8M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$500M
Net Debt	$334M