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Side-by-side financial comparison of QVC INC (QVCD) and WATSCO INC (WSO). Click either name above to swap in a different company.
QVC INC is the larger business by last-quarter revenue ($2.4B vs $1.6B, roughly 1.5× WATSCO INC). WATSCO INC runs the higher net margin — 4.5% vs 1.5%, a 3.0% gap on every dollar of revenue. On growth, QVC INC posted the faster year-over-year revenue change (-8.9% vs -10.0%). Over the past eight quarters, QVC INC's revenue compounded faster (7.1% CAGR vs 0.4%).
QVC Group, is an American media conglomerate controlled by company chairman John C. Malone, who owns a majority of the voting shares.
Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.
QVCD vs WSO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.4B | $1.6B |
| Net Profit | $37.0M | $71.7M |
| Gross Margin | 32.5% | 27.1% |
| Operating Margin | 5.6% | 6.4% |
| Net Margin | 1.5% | 4.5% |
| Revenue YoY | -8.9% | -10.0% |
| Net Profit YoY | 103.0% | -25.9% |
| EPS (diluted) | — | $1.82 |
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 | $1.6B | ||
| Q3 25 | $2.0B | $2.1B | ||
| Q2 25 | $2.0B | $2.1B | ||
| Q1 25 | $1.9B | $1.5B | ||
| Q4 24 | $2.7B | $1.8B | ||
| Q3 24 | $2.1B | $2.2B | ||
| Q2 24 | $2.1B | $2.1B | ||
| Q1 24 | $2.1B | $1.6B |
| Q4 25 | $37.0M | $71.7M | ||
| Q3 25 | $2.0M | $161.6M | ||
| Q2 25 | $-2.2B | $183.6M | ||
| Q1 25 | $-42.0M | $80.1M | ||
| Q4 24 | $-1.2B | $96.8M | ||
| Q3 24 | $51.0M | $171.0M | ||
| Q2 24 | $53.0M | $181.4M | ||
| Q1 24 | $51.0M | $87.0M |
| Q4 25 | 32.5% | 27.1% | ||
| Q3 25 | 33.6% | 27.5% | ||
| Q2 25 | 35.4% | 29.3% | ||
| Q1 25 | 33.3% | 28.1% | ||
| Q4 24 | 32.6% | 26.7% | ||
| Q3 24 | 34.7% | 26.2% | ||
| Q2 24 | 35.6% | 27.1% | ||
| Q1 24 | 35.0% | 27.5% |
| Q4 25 | 5.6% | 6.4% | ||
| Q3 25 | 4.6% | 11.4% | ||
| Q2 25 | -114.5% | 13.2% | ||
| Q1 25 | 1.5% | 7.3% | ||
| Q4 24 | -47.1% | 7.8% | ||
| Q3 24 | 7.8% | 11.6% | ||
| Q2 24 | 7.6% | 12.6% | ||
| Q1 24 | 7.4% | 8.1% |
| Q4 25 | 1.5% | 4.5% | ||
| Q3 25 | 0.1% | 7.8% | ||
| Q2 25 | -109.1% | 8.9% | ||
| Q1 25 | -2.2% | 5.2% | ||
| Q4 24 | -46.0% | 5.5% | ||
| Q3 24 | 2.4% | 7.9% | ||
| Q2 24 | 2.5% | 8.5% | ||
| Q1 24 | 2.4% | 5.6% |
| Q4 25 | — | $1.82 | ||
| Q3 25 | — | $3.98 | ||
| Q2 25 | — | $4.52 | ||
| Q1 25 | — | $1.93 | ||
| Q4 24 | — | $2.42 | ||
| Q3 24 | — | $4.22 | ||
| Q2 24 | — | $4.49 | ||
| Q1 24 | — | $2.17 |
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 | $733.3M |
| Total DebtLower is stronger | $1.0M | $361.6M |
| Stockholders' EquityBook value | $1.2B | $2.8B |
| Total Assets | $8.5B | $4.4B |
| Debt / EquityLower = less leverage | 0.00× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $733.3M | ||
| Q3 25 | — | $524.3M | ||
| Q2 25 | — | $293.0M | ||
| Q1 25 | — | $431.8M | ||
| Q4 24 | $297.0M | $781.9M | ||
| Q3 24 | $297.0M | $550.0M | ||
| Q2 24 | $315.0M | $424.9M | ||
| Q1 24 | $311.0M | $478.9M |
| Q4 25 | $1.0M | $361.6M | ||
| Q3 25 | $5.0B | $340.8M | ||
| Q2 25 | $4.0B | $338.7M | ||
| Q1 25 | $4.0B | $346.4M | ||
| Q4 24 | $3.3B | $337.2M | ||
| Q3 24 | $3.4B | $321.0M | ||
| Q2 24 | $3.7B | $307.1M | ||
| Q1 24 | $3.8B | $306.3M |
| Q4 25 | $1.2B | $2.8B | ||
| Q3 25 | $1.2B | $2.8B | ||
| Q2 25 | $1.2B | $2.8B | ||
| Q1 25 | $3.3B | $2.7B | ||
| Q4 24 | $3.3B | $2.7B | ||
| Q3 24 | $4.6B | $2.7B | ||
| Q2 24 | $4.3B | $2.6B | ||
| Q1 24 | $4.2B | $2.5B |
| Q4 25 | $8.5B | $4.4B | ||
| Q3 25 | $8.3B | $4.6B | ||
| Q2 25 | $7.4B | $4.7B | ||
| Q1 25 | $9.7B | $4.5B | ||
| Q4 24 | $9.9B | $4.5B | ||
| Q3 24 | $9.9B | $4.5B | ||
| Q2 24 | $11.2B | $4.4B | ||
| Q1 24 | $11.4B | $4.4B |
| Q4 25 | 0.00× | 0.13× | ||
| Q3 25 | 4.30× | 0.12× | ||
| Q2 25 | 3.42× | 0.12× | ||
| Q1 25 | 1.22× | 0.13× | ||
| Q4 24 | 1.01× | 0.13× | ||
| Q3 24 | 0.73× | 0.12× | ||
| Q2 24 | 0.87× | 0.12× | ||
| Q1 24 | 0.89× | 0.12× |
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 | $399.8M |
| Free Cash FlowOCF − Capex | — | $388.5M |
| FCF MarginFCF / Revenue | — | 24.6% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | 6.62× | 5.57× |
| TTM Free Cash FlowTrailing 4 quarters | — | $535.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $245.0M | $399.8M | ||
| Q3 25 | $76.0M | $354.9M | ||
| Q2 25 | $52.0M | $-7.4M | ||
| Q1 25 | $46.0M | $-177.6M | ||
| Q4 24 | $189.0M | $378.9M | ||
| Q3 24 | $98.0M | $232.8M | ||
| Q2 24 | $164.0M | $57.7M | ||
| Q1 24 | $84.0M | $103.7M |
| Q4 25 | — | $388.5M | ||
| Q3 25 | — | $346.1M | ||
| Q2 25 | — | $-14.3M | ||
| Q1 25 | — | $-185.2M | ||
| Q4 24 | — | $370.9M | ||
| Q3 24 | — | $223.0M | ||
| Q2 24 | — | $51.3M | ||
| Q1 24 | — | $97.9M |
| Q4 25 | — | 24.6% | ||
| Q3 25 | — | 16.7% | ||
| Q2 25 | — | -0.7% | ||
| Q1 25 | — | -12.1% | ||
| Q4 24 | — | 21.1% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 2.4% | ||
| Q1 24 | — | 6.3% |
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.4% |
| Q4 25 | 6.62× | 5.57× | ||
| Q3 25 | 38.00× | 2.20× | ||
| Q2 25 | — | -0.04× | ||
| Q1 25 | — | -2.22× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | 1.92× | 1.36× | ||
| Q2 24 | 3.09× | 0.32× | ||
| Q1 24 | 1.65× | 1.19× |
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% |
WSO
Segment breakdown not available.
