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美国铁塔（AMT）与QVC Group, Inc.（QVCGA）财务数据对比。点击上方公司名可切换其他公司
美国铁塔的季度营收约是QVC Group, Inc.的1.0倍（$2.7B vs $2.7B），美国铁塔净利率更高（110.1% vs -1.4%，领先111.5%），美国铁塔自由现金流更多（$941.0M vs $191.0M），过去两年QVC Group, Inc.的营收复合增速更高（6.9% vs 3.7%）
美国铁塔是全球规模最大的房地产投资信托基金（REIT）之一，作为领先的独立多租户通信地产持有、运营及开发商，目前在全球范围内拥有约21.9万个通信站点，为全球通信产业提供可靠的基础设施支持。
QVC集团是一家美国媒体 conglomerate 企业，由董事长约翰·C·马龙控制，马龙持有该公司多数具有投票权的股份，主营媒体相关业务，是美国本土颇具影响力的传媒集团。
AMT vs QVCGA — 直观对比
营收规模更大
AMT
是对方的1.0倍
$2.7B
净利率更高
AMT
高出111.5%
-1.4%
自由现金流更多
AMT
多$750.0M
$191.0M
两年增速更快
QVCGA
近两年复合增速
3.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $2.7B |
| 净利润 | $3.0B | $-37.0M |
| 毛利率 | — | 32.9% |
| 营业利润率 | 45.3% | 3.7% |
| 净利率 | 110.1% | -1.4% |
| 营收同比 | — | -9.1% |
| 净利润同比 | — | 97.1% |
| 每股收益（稀释后） | — | $-17.37 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AMTQVCGA
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $2.7B | ||
| Q3 25 | $2.7B | $2.2B | ||
| Q2 25 | $2.6B | $2.2B | ||
| Q1 25 | $2.6B | $2.1B | ||
| Q4 24 | $2.5B | $2.9B | ||
| Q3 24 | $2.5B | $2.3B | ||
| Q2 24 | $2.5B | $2.4B |
净利润AMTQVCGA
| Q1 26 | $3.0B | — | ||
| Q4 25 | $836.8M | $-37.0M | ||
| Q3 25 | $912.6M | $-80.0M | ||
| Q2 25 | $380.5M | $-2.2B | ||
| Q1 25 | $498.6M | $-100.0M | ||
| Q4 24 | $1.2B | $-1.3B | ||
| Q3 24 | $-780.4M | $-23.0M | ||
| Q2 24 | $908.4M | $20.0M |
毛利率AMTQVCGA
| Q1 26 | — | — | ||
| Q4 25 | — | 32.9% | ||
| Q3 25 | — | 34.0% | ||
| Q2 25 | — | 36.4% | ||
| Q1 25 | — | 34.2% | ||
| Q4 24 | — | 33.3% | ||
| Q3 24 | — | 35.3% | ||
| Q2 24 | — | 36.4% |
营业利润率AMTQVCGA
| Q1 26 | 45.3% | — | ||
| Q4 25 | 42.4% | 3.7% | ||
| Q3 25 | 45.4% | 2.7% | ||
| Q2 25 | 45.6% | -101.6% | ||
| Q1 25 | 48.9% | 0.7% | ||
| Q4 24 | 42.4% | -43.2% | ||
| Q3 24 | 45.2% | 6.5% | ||
| Q2 24 | 45.4% | 6.9% |
净利率AMTQVCGA
| Q1 26 | 110.1% | — | ||
| Q4 25 | 30.6% | -1.4% | ||
| Q3 25 | 33.6% | -3.6% | ||
| Q2 25 | 14.5% | -99.4% | ||
| Q1 25 | 19.5% | -4.8% | ||
| Q4 24 | 48.3% | -43.7% | ||
| Q3 24 | -30.9% | -1.0% | ||
| Q2 24 | 35.7% | 0.8% |
每股收益（稀释后）AMTQVCGA
| Q1 26 | — | — | ||
| Q4 25 | $1.76 | $-17.37 | ||
| Q3 25 | $1.82 | $-9.89 | ||
| Q2 25 | $0.78 | $-275.46 | ||
| Q1 25 | $1.04 | $-0.25 | ||
| Q4 24 | $2.63 | — | ||
| Q3 24 | $-1.69 | $-0.06 | ||
| Q2 24 | $1.92 | $2.57 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.6B | $2.0B |
| 总债务越低越好 | — | $790.0M |
| 股东权益账面价值 | $10.2B | $-3.1B |
| 总资产 | — | $7.6B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AMTQVCGA
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $2.0B | ||
| Q3 25 | $2.0B | $1.8B | ||
| Q2 25 | $2.1B | $897.0M | ||
| Q1 25 | $2.1B | $833.0M | ||
| Q4 24 | $2.0B | $905.0M | ||
| Q3 24 | $2.2B | $873.0M | ||
| Q2 24 | $2.2B | $1.2B |
总债务AMTQVCGA
| Q1 26 | — | — | ||
| Q4 25 | $33.8B | $790.0M | ||
| Q3 25 | $34.9B | $5.9B | ||
| Q2 25 | $35.2B | $4.9B | ||
| Q1 25 | $34.0B | $5.0B | ||
| Q4 24 | $32.8B | $4.1B | ||
| Q3 24 | $33.4B | $5.1B | ||
| Q2 24 | $35.6B | $5.3B |
股东权益AMTQVCGA
| Q1 26 | $10.2B | — | ||
| Q4 25 | $3.7B | $-3.1B | ||
| Q3 25 | $4.0B | $-3.1B | ||
| Q2 25 | $3.7B | $-3.0B | ||
| Q1 25 | $3.5B | $-981.0M | ||
| Q4 24 | $3.4B | $-971.0M | ||
| Q3 24 | $3.6B | $397.0M | ||
| Q2 24 | $3.9B | $328.0M |
总资产AMTQVCGA
| Q1 26 | — | — | ||
| Q4 25 | $63.2B | $7.6B | ||
| Q3 25 | $63.9B | $7.6B | ||
| Q2 25 | $63.8B | $6.7B | ||
| Q1 25 | $62.1B | $9.0B | ||
| Q4 24 | $61.1B | $9.2B | ||
| Q3 24 | $62.8B | $10.8B | ||
| Q2 24 | $65.8B | $10.9B |
负债/权益比AMTQVCGA
| Q1 26 | — | — | ||
| Q4 25 | 9.26× | — | ||
| Q3 25 | 8.82× | — | ||
| Q2 25 | 9.48× | — | ||
| Q1 25 | 9.63× | — | ||
| Q4 24 | 9.70× | — | ||
| Q3 24 | 9.16× | 12.74× | ||
| Q2 24 | 9.24× | 16.28× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $244.0M |
| 自由现金流经营现金流 - 资本支出 | $941.0M | $191.0M |
| 自由现金流率自由现金流/营收 | 34.4% | 7.1% |
| 资本支出强度资本支出/营收 | 16.8% | 2.0% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $6.7B | $118.0M |
8季度趋势，按日历期对齐
经营现金流AMTQVCGA
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $244.0M | ||
| Q3 25 | $1.5B | $4.0M | ||
| Q2 25 | $1.3B | $86.0M | ||
| Q1 25 | $1.3B | $-60.0M | ||
| Q4 24 | $5.3B | $212.0M | ||
| Q3 24 | $1.5B | $20.0M | ||
| Q2 24 | $1.3B | $267.0M |
自由现金流AMTQVCGA
| Q1 26 | $941.0M | — | ||
| Q4 25 | $3.8B | $191.0M | ||
| Q3 25 | $994.5M | $-27.0M | ||
| Q2 25 | $976.9M | $48.0M | ||
| Q1 25 | $963.9M | $-94.0M | ||
| Q4 24 | $3.7B | $150.0M | ||
| Q3 24 | $1.0B | $-23.0M | ||
| Q2 24 | $1.0B | $213.0M |
自由现金流率AMTQVCGA
| Q1 26 | 34.4% | — | ||
| Q4 25 | 138.2% | 7.1% | ||
| Q3 25 | 36.6% | -1.2% | ||
| Q2 25 | 37.2% | 2.1% | ||
| Q1 25 | 37.6% | -4.5% | ||
| Q4 24 | 145.3% | 5.1% | ||
| Q3 24 | 41.4% | -1.0% | ||
| Q2 24 | 39.8% | 8.8% |
资本支出强度AMTQVCGA
| Q1 26 | 16.8% | — | ||
| Q4 25 | 61.4% | 2.0% | ||
| Q3 25 | 17.1% | 1.4% | ||
| Q2 25 | 11.6% | 1.7% | ||
| Q1 25 | 12.9% | 1.6% | ||
| Q4 24 | 62.4% | 2.1% | ||
| Q3 24 | 16.8% | 1.8% | ||
| Q2 24 | 12.8% | 2.2% |
现金转化率AMTQVCGA
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | — | ||
| Q3 25 | 1.60× | — | ||
| Q2 25 | 3.37× | — | ||
| Q1 25 | 2.60× | — | ||
| Q4 24 | 4.30× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.47× | 13.35× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AMT
暂无分部数据
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% |
