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芝商所（CME）与QVC INC（QVCD）财务数据对比。点击上方公司名可切换其他公司
QVC INC的季度营收约是芝商所的1.3倍（$2.4B vs $1.9B），QVC INC净利率更高（1.5% vs 0.1%，领先1.5%），芝商所同比增速更快（14.5% vs -8.9%），过去两年芝商所的营收复合增速更高（10.8% vs 7.1%）
芝商所是总部位于美国伊利诺伊州芝加哥的金融服务企业，为全球规模最大的金融衍生品交易所运营商，旗下拥有芝加哥商品交易所、芝加哥期货交易所、纽约商业交易所、纽约商品交易所等交易平台，覆盖农产品、货币、能源等品类交易，同时持有标普道琼斯指数27%的股权。
QVC集团是一家美国媒体 conglomerate，由公司董事长约翰·C·马龙控股，马龙持有该集团多数有表决权股份，业务覆盖媒体相关领域，是美国颇具影响力的传媒企业集团。
CME vs QVCD — 直观对比
营收规模更大
QVCD
是对方的1.3倍
$1.9B
营收增速更快
CME
高出23.4%
-8.9%
净利率更高
QVCD
高出1.5%
0.1%
两年增速更快
CME
近两年复合增速
7.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.4B |
| 净利润 | $1.2M | $37.0M |
| 毛利率 | — | 32.5% |
| 营业利润率 | 0.1% | 5.6% |
| 净利率 | 0.1% | 1.5% |
| 营收同比 | 14.5% | -8.9% |
| 净利润同比 | 20.7% | 103.0% |
| 每股收益（稀释后） | — | — |
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CMEQVCD
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | $2.4B | ||
| Q3 25 | $1.5B | $2.0B | ||
| Q2 25 | $1.7B | $2.0B | ||
| Q1 25 | $1.6B | $1.9B | ||
| Q4 24 | $1.5B | $2.7B | ||
| Q3 24 | $1.6B | $2.1B | ||
| Q2 24 | $1.5B | $2.1B |
净利润CMEQVCD
| Q1 26 | $1.2M | — | ||
| Q4 25 | $1.2B | $37.0M | ||
| Q3 25 | $908.0M | $2.0M | ||
| Q2 25 | $1.0B | $-2.2B | ||
| Q1 25 | $956.2M | $-42.0M | ||
| Q4 24 | $874.6M | $-1.2B | ||
| Q3 24 | $912.8M | $51.0M | ||
| Q2 24 | $883.2M | $53.0M |
毛利率CMEQVCD
| Q1 26 | — | — | ||
| Q4 25 | — | 32.5% | ||
| Q3 25 | — | 33.6% | ||
| Q2 25 | — | 35.4% | ||
| Q1 25 | — | 33.3% | ||
| Q4 24 | — | 32.6% | ||
| Q3 24 | — | 34.7% | ||
| Q2 24 | — | 35.6% |
营业利润率CMEQVCD
| Q1 26 | 0.1% | — | ||
| Q4 25 | 61.8% | 5.6% | ||
| Q3 25 | 63.3% | 4.6% | ||
| Q2 25 | 66.7% | -114.5% | ||
| Q1 25 | 67.5% | 1.5% | ||
| Q4 24 | 62.1% | -47.1% | ||
| Q3 24 | 64.6% | 7.8% | ||
| Q2 24 | 65.3% | 7.6% |
净利率CMEQVCD
| Q1 26 | 0.1% | — | ||
| Q4 25 | 71.7% | 1.5% | ||
| Q3 25 | 59.1% | 0.1% | ||
| Q2 25 | 60.6% | -109.1% | ||
| Q1 25 | 58.2% | -2.2% | ||
| Q4 24 | 57.3% | -46.0% | ||
| Q3 24 | 57.6% | 2.4% | ||
| Q2 24 | 57.6% | 2.5% |
每股收益（稀释后）CMEQVCD
| Q1 26 | — | — | ||
| Q4 25 | $3.24 | — | ||
| Q3 25 | $2.49 | — | ||
| Q2 25 | $2.81 | — | ||
| Q1 25 | $2.62 | — | ||
| Q4 24 | $2.40 | — | ||
| Q3 24 | $2.50 | — | ||
| Q2 24 | $2.42 | — |
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 | $2.4B | $1.5B |
| 总债务越低越好 | $3.4B | $1.0M |
| 股东权益账面价值 | — | $1.2B |
| 总资产 | $202.0B | $8.5B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资CMEQVCD
| Q1 26 | $2.4B | — | ||
| Q4 25 | $4.5B | $1.5B | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $3.0B | $297.0M | ||
| Q3 24 | $2.4B | $297.0M | ||
| Q2 24 | $1.9B | $315.0M |
总债务CMEQVCD
| Q1 26 | $3.4B | — | ||
| 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 |
股东权益CMEQVCD
| Q1 26 | — | — | ||
| Q4 25 | $28.7B | $1.2B | ||
| Q3 25 | $28.2B | $1.2B | ||
| Q2 25 | $27.7B | $1.2B | ||
| Q1 25 | $27.0B | $3.3B | ||
| Q4 24 | $26.5B | $3.3B | ||
| Q3 24 | $28.2B | $4.6B | ||
| Q2 24 | $27.6B | $4.3B |
总资产CMEQVCD
| Q1 26 | $202.0B | — | ||
| Q4 25 | $198.4B | $8.5B | ||
| Q3 25 | $187.1B | $8.3B | ||
| Q2 25 | $179.9B | $7.4B | ||
| Q1 25 | $157.8B | $9.7B | ||
| Q4 24 | $137.4B | $9.9B | ||
| Q3 24 | $137.8B | $9.9B | ||
| Q2 24 | $123.4B | $11.2B |
负债/权益比CMEQVCD
| Q1 26 | — | — | ||
| 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× |
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 | — | $245.0M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 6.62× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流CMEQVCD
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $245.0M | ||
| Q3 25 | $968.1M | $76.0M | ||
| Q2 25 | $1.1B | $52.0M | ||
| Q1 25 | $1.1B | $46.0M | ||
| Q4 24 | $1.0B | $189.0M | ||
| Q3 24 | $1.0B | $98.0M | ||
| Q2 24 | $776.9M | $164.0M |
自由现金流CMEQVCD
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $949.7M | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $991.7M | — | ||
| Q3 24 | $973.2M | — | ||
| Q2 24 | $758.7M | — |
自由现金流率CMEQVCD
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | — | ||
| Q3 25 | 61.8% | — | ||
| Q2 25 | 61.5% | — | ||
| Q1 25 | 67.1% | — | ||
| Q4 24 | 65.0% | — | ||
| Q3 24 | 61.4% | — | ||
| Q2 24 | 49.5% | — |
资本支出强度CMEQVCD
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 1.7% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 1.2% | — |
现金转化率CMEQVCD
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | 6.62× | ||
| Q3 25 | 1.07× | 38.00× | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 1.16× | — | ||
| Q3 24 | 1.10× | 1.92× | ||
| Q2 24 | 0.88× | 3.09× |
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
CME
暂无分部数据
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% |
