vs
Side-by-side financial comparison of QVC Group, Inc. (QVCGA) 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 $2.7B, roughly 1.4× QVC Group, Inc.). SHOPIFY INC. runs the higher net margin — 20.2% vs -1.4%, a 21.6% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs -9.1%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $191.0M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs 6.9%).
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.
QVCGA vs SHOP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $3.7B |
| Net Profit | $-37.0M | $743.0M |
| Gross Margin | 32.9% | 46.1% |
| Operating Margin | 3.7% | 17.2% |
| Net Margin | -1.4% | 20.2% |
| Revenue YoY | -9.1% | 30.6% |
| Net Profit YoY | 97.1% | -42.5% |
| EPS (diluted) | $-17.37 | $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 | $2.7B | $3.7B | ||
| Q3 25 | $2.2B | $2.8B | ||
| Q2 25 | $2.2B | $2.7B | ||
| Q1 25 | $2.1B | $2.4B | ||
| Q4 24 | $2.9B | $2.8B | ||
| Q3 24 | $2.3B | $2.2B | ||
| Q2 24 | $2.4B | $2.0B | ||
| Q1 24 | $2.3B | $1.9B |
| Q4 25 | $-37.0M | $743.0M | ||
| Q3 25 | $-80.0M | $264.0M | ||
| Q2 25 | $-2.2B | $906.0M | ||
| Q1 25 | $-100.0M | $-682.0M | ||
| Q4 24 | $-1.3B | $1.3B | ||
| Q3 24 | $-23.0M | $828.0M | ||
| Q2 24 | $20.0M | $171.0M | ||
| Q1 24 | $-1.0M | $-273.0M |
| Q4 25 | 32.9% | 46.1% | ||
| Q3 25 | 34.0% | 48.9% | ||
| Q2 25 | 36.4% | 48.6% | ||
| Q1 25 | 34.2% | 49.5% | ||
| Q4 24 | 33.3% | 48.1% | ||
| Q3 24 | 35.3% | 51.7% | ||
| Q2 24 | 36.4% | 51.1% | ||
| Q1 24 | 35.5% | 51.4% |
| Q4 25 | 3.7% | 17.2% | ||
| Q3 25 | 2.7% | 12.1% | ||
| Q2 25 | -101.6% | 10.9% | ||
| Q1 25 | 0.7% | 8.6% | ||
| Q4 24 | -43.2% | 16.5% | ||
| Q3 24 | 6.5% | 13.1% | ||
| Q2 24 | 6.9% | 11.8% | ||
| Q1 24 | 6.2% | 4.6% |
| Q4 25 | -1.4% | 20.2% | ||
| Q3 25 | -3.6% | 9.3% | ||
| Q2 25 | -99.4% | 33.8% | ||
| Q1 25 | -4.8% | -28.9% | ||
| Q4 24 | -43.7% | 46.0% | ||
| Q3 24 | -1.0% | 38.3% | ||
| Q2 24 | 0.8% | 8.4% | ||
| Q1 24 | -0.0% | -14.7% |
| Q4 25 | $-17.37 | $0.58 | ||
| Q3 25 | $-9.89 | $0.20 | ||
| Q2 25 | $-275.46 | $0.69 | ||
| Q1 25 | $-0.25 | $-0.53 | ||
| Q4 24 | — | $0.99 | ||
| Q3 24 | $-0.06 | $0.64 | ||
| Q2 24 | $2.57 | $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 | $2.0B | $5.8B |
| Total DebtLower is stronger | $790.0M | — |
| Stockholders' EquityBook value | $-3.1B | $13.5B |
| Total Assets | $7.6B | $15.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $5.8B | ||
| Q3 25 | $1.8B | $6.3B | ||
| Q2 25 | $897.0M | $5.8B | ||
| Q1 25 | $833.0M | $5.5B | ||
| Q4 24 | $905.0M | $5.5B | ||
| Q3 24 | $873.0M | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $790.0M | — | ||
| Q3 25 | $5.9B | — | ||
| Q2 25 | $4.9B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $5.5B | — |
| Q4 25 | $-3.1B | $13.5B | ||
| Q3 25 | $-3.1B | $12.5B | ||
| Q2 25 | $-3.0B | $12.1B | ||
| Q1 25 | $-981.0M | $11.1B | ||
| Q4 24 | $-971.0M | $11.6B | ||
| Q3 24 | $397.0M | $10.1B | ||
| Q2 24 | $328.0M | $9.2B | ||
| Q1 24 | $255.0M | $8.9B |
| Q4 25 | $7.6B | $15.2B | ||
| Q3 25 | $7.6B | $15.0B | ||
| Q2 25 | $6.7B | $14.6B | ||
| Q1 25 | $9.0B | $13.4B | ||
| Q4 24 | $9.2B | $13.9B | ||
| Q3 24 | $10.8B | — | ||
| Q2 24 | $10.9B | — | ||
| Q1 24 | $11.0B | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 12.74× | — | ||
| Q2 24 | 16.28× | — | ||
| Q1 24 | 21.53× | — |
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 | $244.0M | $725.0M |
| Free Cash FlowOCF − Capex | $191.0M | $715.0M |
| FCF MarginFCF / Revenue | 7.1% | 19.5% |
| Capex IntensityCapex / Revenue | 2.0% | 0.3% |
| Cash ConversionOCF / Net Profit | — | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | $118.0M | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $244.0M | $725.0M | ||
| Q3 25 | $4.0M | $513.0M | ||
| Q2 25 | $86.0M | $428.0M | ||
| Q1 25 | $-60.0M | $367.0M | ||
| Q4 24 | $212.0M | $615.0M | ||
| Q3 24 | $20.0M | $423.0M | ||
| Q2 24 | $267.0M | $340.0M | ||
| Q1 24 | $26.0M | $238.0M |
| Q4 25 | $191.0M | $715.0M | ||
| Q3 25 | $-27.0M | $507.0M | ||
| Q2 25 | $48.0M | $422.0M | ||
| Q1 25 | $-94.0M | $363.0M | ||
| Q4 24 | $150.0M | $611.0M | ||
| Q3 24 | $-23.0M | $421.0M | ||
| Q2 24 | $213.0M | $333.0M | ||
| Q1 24 | $-14.0M | $232.0M |
| Q4 25 | 7.1% | 19.5% | ||
| Q3 25 | -1.2% | 17.8% | ||
| Q2 25 | 2.1% | 15.7% | ||
| Q1 25 | -4.5% | 15.4% | ||
| Q4 24 | 5.1% | 21.7% | ||
| Q3 24 | -1.0% | 19.5% | ||
| Q2 24 | 8.8% | 16.3% | ||
| Q1 24 | -0.6% | 12.5% |
| Q4 25 | 2.0% | 0.3% | ||
| Q3 25 | 1.4% | 0.2% | ||
| Q2 25 | 1.7% | 0.2% | ||
| Q1 25 | 1.6% | 0.2% | ||
| Q4 24 | 2.1% | 0.1% | ||
| Q3 24 | 1.8% | 0.1% | ||
| Q2 24 | 2.2% | 0.3% | ||
| Q1 24 | 1.7% | 0.3% |
| Q4 25 | — | 0.98× | ||
| Q3 25 | — | 1.94× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.48× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | 13.35× | 1.99× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
QVCGA
| Other | $915.0M | 34% |
| Home | $754.0M | 28% |
| Beauty | $260.0M | 10% |
| Apparel | $254.0M | 9% |
| Electronics | $187.0M | 7% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 3% |
| Manufactured Product Other | $38.0M | 1% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
