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芝商所（CME）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
QVC Group, Inc.的季度营收约是芝商所的1.4倍（$2.7B vs $1.9B），芝商所净利率更高（0.1% vs -1.4%，领先1.4%），芝商所同比增速更快（14.5% vs -9.1%），过去两年芝商所的营收复合增速更高（10.8% vs 6.9%）
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 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。
CME vs QVCGA — 直观对比
营收规模更大
QVCGA
是对方的1.4倍
$1.9B
营收增速更快
CME
高出23.6%
-9.1%
净利率更高
CME
高出1.4%
-1.4%
两年增速更快
CME
近两年复合增速
6.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.7B |
| 净利润 | $1.2M | $-37.0M |
| 毛利率 | — | 32.9% |
| 营业利润率 | 0.1% | 3.7% |
| 净利率 | 0.1% | -1.4% |
| 营收同比 | 14.5% | -9.1% |
| 净利润同比 | 20.7% | 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CMEQVCGA
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | $2.7B | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.7B | $2.2B | ||
| Q1 25 | $1.6B | $2.1B | ||
| Q4 24 | $1.5B | $2.9B | ||
| Q3 24 | $1.6B | $2.3B | ||
| Q2 24 | $1.5B | $2.4B |
净利润CMEQVCGA
| Q1 26 | $1.2M | — | ||
| Q4 25 | $1.2B | $-37.0M | ||
| Q3 25 | $908.0M | $-80.0M | ||
| Q2 25 | $1.0B | $-2.2B | ||
| Q1 25 | $956.2M | $-100.0M | ||
| Q4 24 | $874.6M | $-1.3B | ||
| Q3 24 | $912.8M | $-23.0M | ||
| Q2 24 | $883.2M | $20.0M |
毛利率CMEQVCGA
| 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CMEQVCGA
| Q1 26 | 0.1% | — | ||
| Q4 25 | 61.8% | 3.7% | ||
| Q3 25 | 63.3% | 2.7% | ||
| Q2 25 | 66.7% | -101.6% | ||
| Q1 25 | 67.5% | 0.7% | ||
| Q4 24 | 62.1% | -43.2% | ||
| Q3 24 | 64.6% | 6.5% | ||
| Q2 24 | 65.3% | 6.9% |
净利率CMEQVCGA
| Q1 26 | 0.1% | — | ||
| Q4 25 | 71.7% | -1.4% | ||
| Q3 25 | 59.1% | -3.6% | ||
| Q2 25 | 60.6% | -99.4% | ||
| Q1 25 | 58.2% | -4.8% | ||
| Q4 24 | 57.3% | -43.7% | ||
| Q3 24 | 57.6% | -1.0% | ||
| Q2 24 | 57.6% | 0.8% |
每股收益（稀释后）CMEQVCGA
| Q1 26 | — | — | ||
| Q4 25 | $3.24 | $-17.37 | ||
| Q3 25 | $2.49 | $-9.89 | ||
| Q2 25 | $2.81 | $-275.46 | ||
| Q1 25 | $2.62 | $-0.25 | ||
| Q4 24 | $2.40 | — | ||
| Q3 24 | $2.50 | $-0.06 | ||
| Q2 24 | $2.42 | $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 | $2.4B | $2.0B |
| 总债务越低越好 | $3.4B | $790.0M |
| 股东权益账面价值 | — | $-3.1B |
| 总资产 | $202.0B | $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CMEQVCGA
| Q1 26 | $2.4B | — | ||
| Q4 25 | $4.5B | $2.0B | ||
| Q3 25 | $2.6B | $1.8B | ||
| Q2 25 | $2.1B | $897.0M | ||
| Q1 25 | $1.5B | $833.0M | ||
| Q4 24 | $3.0B | $905.0M | ||
| Q3 24 | $2.4B | $873.0M | ||
| Q2 24 | $1.9B | $1.2B |
总债务CMEQVCGA
| Q1 26 | $3.4B | — | ||
| 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 |
股东权益CMEQVCGA
| Q1 26 | — | — | ||
| Q4 25 | $28.7B | $-3.1B | ||
| Q3 25 | $28.2B | $-3.1B | ||
| Q2 25 | $27.7B | $-3.0B | ||
| Q1 25 | $27.0B | $-981.0M | ||
| Q4 24 | $26.5B | $-971.0M | ||
| Q3 24 | $28.2B | $397.0M | ||
| Q2 24 | $27.6B | $328.0M |
总资产CMEQVCGA
| Q1 26 | $202.0B | — | ||
| Q4 25 | $198.4B | $7.6B | ||
| Q3 25 | $187.1B | $7.6B | ||
| Q2 25 | $179.9B | $6.7B | ||
| Q1 25 | $157.8B | $9.0B | ||
| Q4 24 | $137.4B | $9.2B | ||
| Q3 24 | $137.8B | $10.8B | ||
| Q2 24 | $123.4B | $10.9B |
负债/权益比CMEQVCGA
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 12.74× | ||
| Q2 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 | — | $191.0M |
| 自由现金流率自由现金流/营收 | — | 7.1% |
| 资本支出强度资本支出/营收 | — | 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 | — | $118.0M |
8季度趋势，按日历期对齐
经营现金流CMEQVCGA
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $244.0M | ||
| Q3 25 | $968.1M | $4.0M | ||
| Q2 25 | $1.1B | $86.0M | ||
| Q1 25 | $1.1B | $-60.0M | ||
| Q4 24 | $1.0B | $212.0M | ||
| Q3 24 | $1.0B | $20.0M | ||
| Q2 24 | $776.9M | $267.0M |
自由现金流CMEQVCGA
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $191.0M | ||
| Q3 25 | $949.7M | $-27.0M | ||
| Q2 25 | $1.0B | $48.0M | ||
| Q1 25 | $1.1B | $-94.0M | ||
| Q4 24 | $991.7M | $150.0M | ||
| Q3 24 | $973.2M | $-23.0M | ||
| Q2 24 | $758.7M | $213.0M |
自由现金流率CMEQVCGA
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | 7.1% | ||
| Q3 25 | 61.8% | -1.2% | ||
| Q2 25 | 61.5% | 2.1% | ||
| Q1 25 | 67.1% | -4.5% | ||
| Q4 24 | 65.0% | 5.1% | ||
| Q3 24 | 61.4% | -1.0% | ||
| Q2 24 | 49.5% | 8.8% |
资本支出强度CMEQVCGA
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 2.0% | ||
| Q3 25 | 1.2% | 1.4% | ||
| Q2 25 | 1.1% | 1.7% | ||
| Q1 25 | 0.9% | 1.6% | ||
| Q4 24 | 1.7% | 2.1% | ||
| Q3 24 | 1.9% | 1.8% | ||
| Q2 24 | 1.2% | 2.2% |
现金转化率CMEQVCGA
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | — | ||
| Q3 25 | 1.07× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 1.16× | — | ||
| Q3 24 | 1.10× | — | ||
| Q2 24 | 0.88× | 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
CME
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% |
