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Side-by-side financial comparison of QVC INC (QVCD) and SHOPIFY INC. (SHOP). Click either name above to swap in a different company.
SHOPIFY INC. is the larger business by last-quarter revenue ($3.7B vs $2.4B, roughly 1.5× QVC INC). SHOPIFY INC. runs the higher net margin — 20.2% vs 1.5%, a 18.7% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs -8.9%). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs 7.1%).
QVC Group, is an American media conglomerate controlled by company chairman John C. Malone, who owns a majority of the voting shares.
Shopify Inc., stylized as shopify, is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario that operates a platform for retail point-of-sale systems. The company has over 5 million customers and processed US$292.3 billion in transactions in 2024, of which 57% was in the United States. Major customers include Tesla, LVMH, Nestlé, PepsiCo, AB InBev, Kraft Heinz, Lindt, Whole Foods Market, Red Bull, and Hyatt.
QVCD vs SHOP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.4B | $3.7B |
| Net Profit | $37.0M | $743.0M |
| Gross Margin | 32.5% | 46.1% |
| Operating Margin | 5.6% | 17.2% |
| Net Margin | 1.5% | 20.2% |
| Revenue YoY | -8.9% | 30.6% |
| Net Profit YoY | 103.0% | -42.5% |
| EPS (diluted) | — | $0.58 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.4B | $3.7B | ||
| Q3 25 | $2.0B | $2.8B | ||
| Q2 25 | $2.0B | $2.7B | ||
| Q1 25 | $1.9B | $2.4B | ||
| Q4 24 | $2.7B | $2.8B | ||
| Q3 24 | $2.1B | $2.2B | ||
| Q2 24 | $2.1B | $2.0B | ||
| Q1 24 | $2.1B | $1.9B |
| Q4 25 | $37.0M | $743.0M | ||
| Q3 25 | $2.0M | $264.0M | ||
| Q2 25 | $-2.2B | $906.0M | ||
| Q1 25 | $-42.0M | $-682.0M | ||
| Q4 24 | $-1.2B | $1.3B | ||
| Q3 24 | $51.0M | $828.0M | ||
| Q2 24 | $53.0M | $171.0M | ||
| Q1 24 | $51.0M | $-273.0M |
| Q4 25 | 32.5% | 46.1% | ||
| Q3 25 | 33.6% | 48.9% | ||
| Q2 25 | 35.4% | 48.6% | ||
| Q1 25 | 33.3% | 49.5% | ||
| Q4 24 | 32.6% | 48.1% | ||
| Q3 24 | 34.7% | 51.7% | ||
| Q2 24 | 35.6% | 51.1% | ||
| Q1 24 | 35.0% | 51.4% |
| Q4 25 | 5.6% | 17.2% | ||
| Q3 25 | 4.6% | 12.1% | ||
| Q2 25 | -114.5% | 10.9% | ||
| Q1 25 | 1.5% | 8.6% | ||
| Q4 24 | -47.1% | 16.5% | ||
| Q3 24 | 7.8% | 13.1% | ||
| Q2 24 | 7.6% | 11.8% | ||
| Q1 24 | 7.4% | 4.6% |
| Q4 25 | 1.5% | 20.2% | ||
| Q3 25 | 0.1% | 9.3% | ||
| Q2 25 | -109.1% | 33.8% | ||
| Q1 25 | -2.2% | -28.9% | ||
| Q4 24 | -46.0% | 46.0% | ||
| Q3 24 | 2.4% | 38.3% | ||
| Q2 24 | 2.5% | 8.4% | ||
| Q1 24 | 2.4% | -14.7% |
| Q4 25 | — | $0.58 | ||
| Q3 25 | — | $0.20 | ||
| Q2 25 | — | $0.69 | ||
| Q1 25 | — | $-0.53 | ||
| Q4 24 | — | $0.99 | ||
| Q3 24 | — | $0.64 | ||
| Q2 24 | — | $0.13 | ||
| Q1 24 | — | $-0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5B | $5.8B |
| Total DebtLower is stronger | $1.0M | — |
| Stockholders' EquityBook value | $1.2B | $13.5B |
| Total Assets | $8.5B | $15.2B |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $5.8B | ||
| Q3 25 | — | $6.3B | ||
| Q2 25 | — | $5.8B | ||
| Q1 25 | — | $5.5B | ||
| Q4 24 | $297.0M | $5.5B | ||
| Q3 24 | $297.0M | — | ||
| Q2 24 | $315.0M | — | ||
| Q1 24 | $311.0M | — |
| Q4 25 | $1.0M | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $4.0B | — | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.4B | — | ||
| Q2 24 | $3.7B | — | ||
| Q1 24 | $3.8B | — |
| Q4 25 | $1.2B | $13.5B | ||
| Q3 25 | $1.2B | $12.5B | ||
| Q2 25 | $1.2B | $12.1B | ||
| Q1 25 | $3.3B | $11.1B | ||
| Q4 24 | $3.3B | $11.6B | ||
| Q3 24 | $4.6B | $10.1B | ||
| Q2 24 | $4.3B | $9.2B | ||
| Q1 24 | $4.2B | $8.9B |
| Q4 25 | $8.5B | $15.2B | ||
| Q3 25 | $8.3B | $15.0B | ||
| Q2 25 | $7.4B | $14.6B | ||
| Q1 25 | $9.7B | $13.4B | ||
| Q4 24 | $9.9B | $13.9B | ||
| Q3 24 | $9.9B | — | ||
| Q2 24 | $11.2B | — | ||
| Q1 24 | $11.4B | — |
| Q4 25 | 0.00× | — | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 3.42× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | 1.01× | — | ||
| Q3 24 | 0.73× | — | ||
| Q2 24 | 0.87× | — | ||
| Q1 24 | 0.89× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $245.0M | $725.0M |
| Free Cash FlowOCF − Capex | — | $715.0M |
| FCF MarginFCF / Revenue | — | 19.5% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | 6.62× | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $245.0M | $725.0M | ||
| Q3 25 | $76.0M | $513.0M | ||
| Q2 25 | $52.0M | $428.0M | ||
| Q1 25 | $46.0M | $367.0M | ||
| Q4 24 | $189.0M | $615.0M | ||
| Q3 24 | $98.0M | $423.0M | ||
| Q2 24 | $164.0M | $340.0M | ||
| Q1 24 | $84.0M | $238.0M |
| Q4 25 | — | $715.0M | ||
| Q3 25 | — | $507.0M | ||
| Q2 25 | — | $422.0M | ||
| Q1 25 | — | $363.0M | ||
| Q4 24 | — | $611.0M | ||
| Q3 24 | — | $421.0M | ||
| Q2 24 | — | $333.0M | ||
| Q1 24 | — | $232.0M |
| Q4 25 | — | 19.5% | ||
| Q3 25 | — | 17.8% | ||
| Q2 25 | — | 15.7% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | — | 21.7% | ||
| Q3 24 | — | 19.5% | ||
| Q2 24 | — | 16.3% | ||
| Q1 24 | — | 12.5% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.3% |
| Q4 25 | 6.62× | 0.98× | ||
| Q3 25 | 38.00× | 1.94× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.48× | ||
| Q3 24 | 1.92× | 0.51× | ||
| Q2 24 | 3.09× | 1.99× | ||
| Q1 24 | 1.65× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
QVCD
| Home | $754.0M | 31% |
| QVC International | $661.0M | 27% |
| Beauty | $260.0M | 11% |
| Apparel | $254.0M | 10% |
| Electronics | $187.0M | 8% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 4% |
| Otherrevenue | $38.0M | 2% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
