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艺康（ECL）与QVC INC（QVCD）财务数据对比。点击上方公司名可切换其他公司
艺康的季度营收约是QVC INC的1.7倍（$4.1B vs $2.4B），艺康净利率更高（10.6% vs 1.5%，领先9.1%），艺康同比增速更快（10.0% vs -8.9%），过去两年QVC INC的营收复合增速更高（7.1% vs 1.0%）
艺康（Ecolab）总部位于美国明尼苏达州圣保罗市，是全球领先的水处理、清洁消毒与卫生防护产品提供商，核心客户群体覆盖各领域商业机构与工业企业，可助力客户提升运营效率、保障公共卫生安全、实现可持续发展。
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。
ECL vs QVCD — 直观对比
营收规模更大
ECL
是对方的1.7倍
$2.4B
营收增速更快
ECL
高出19.0%
-8.9%
净利率更高
ECL
高出9.1%
1.5%
两年增速更快
QVCD
近两年复合增速
1.0%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.1B | $2.4B |
| 净利润 | $432.6M | $37.0M |
| 毛利率 | — | 32.5% |
| 营业利润率 | 15.3% | 5.6% |
| 净利率 | 10.6% | 1.5% |
| 营收同比 | 10.0% | -8.9% |
| 净利润同比 | 1.3% | 103.0% |
| 每股收益（稀释后） | $1.52 | — |
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ECLQVCD
| Q2 26 | $4.1B | — | ||
| Q4 25 | $4.2B | $2.4B | ||
| Q3 25 | $4.2B | $2.0B | ||
| Q2 25 | $4.0B | $2.0B | ||
| Q1 25 | $3.7B | $1.9B | ||
| Q4 24 | $4.0B | $2.7B | ||
| Q3 24 | $4.0B | $2.1B | ||
| Q2 24 | $4.0B | $2.1B |
净利润ECLQVCD
| Q2 26 | $432.6M | — | ||
| Q4 25 | $563.9M | $37.0M | ||
| Q3 25 | $585.0M | $2.0M | ||
| Q2 25 | $524.2M | $-2.2B | ||
| Q1 25 | $402.5M | $-42.0M | ||
| Q4 24 | $472.9M | $-1.2B | ||
| Q3 24 | $736.5M | $51.0M | ||
| Q2 24 | $490.9M | $53.0M |
毛利率ECLQVCD
| Q2 26 | — | — | ||
| Q4 25 | 44.0% | 32.5% | ||
| Q3 25 | 44.8% | 33.6% | ||
| Q2 25 | 44.8% | 35.4% | ||
| Q1 25 | 44.2% | 33.3% | ||
| Q4 24 | 43.3% | 32.6% | ||
| Q3 24 | 43.4% | 34.7% | ||
| Q2 24 | 43.8% | 35.6% |
营业利润率ECLQVCD
| Q2 26 | 15.3% | — | ||
| Q4 25 | 17.0% | 5.6% | ||
| Q3 25 | 18.3% | 4.6% | ||
| Q2 25 | 17.6% | -114.5% | ||
| Q1 25 | 15.0% | 1.5% | ||
| Q4 24 | 14.6% | -47.1% | ||
| Q3 24 | 26.1% | 7.8% | ||
| Q2 24 | 16.5% | 7.6% |
净利率ECLQVCD
| Q2 26 | 10.6% | — | ||
| Q4 25 | 13.4% | 1.5% | ||
| Q3 25 | 14.0% | 0.1% | ||
| Q2 25 | 13.0% | -109.1% | ||
| Q1 25 | 10.9% | -2.2% | ||
| Q4 24 | 11.8% | -46.0% | ||
| Q3 24 | 18.4% | 2.4% | ||
| Q2 24 | 12.3% | 2.5% |
每股收益（稀释后）ECLQVCD
| Q2 26 | $1.52 | — | ||
| Q4 25 | $1.98 | — | ||
| Q3 25 | $2.05 | — | ||
| Q2 25 | $1.84 | — | ||
| Q1 25 | $1.41 | — | ||
| Q4 24 | $1.65 | — | ||
| Q3 24 | $2.58 | — | ||
| Q2 24 | $1.71 | — |
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 | $519.8K | $1.5B |
| 总债务越低越好 | $8.5M | $1.0M |
| 股东权益账面价值 | $10.0M | $1.2B |
| 总资产 | $25.0M | $8.5B |
| 负债/权益比越低杠杆越低 | 0.85× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资ECLQVCD
| Q2 26 | $519.8K | — | ||
| Q4 25 | $646.2M | $1.5B | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | $297.0M | ||
| Q3 24 | $1.3B | $297.0M | ||
| Q2 24 | $384.0M | $315.0M |
总债务ECLQVCD
| Q2 26 | $8.5M | — | ||
| Q4 25 | $7.4B | $1.0M | ||
| Q3 25 | $8.1B | $5.0B | ||
| Q2 25 | $7.5B | $4.0B | ||
| Q1 25 | $7.0B | $4.0B | ||
| Q4 24 | $6.9B | $3.3B | ||
| Q3 24 | $7.0B | $3.4B | ||
| Q2 24 | $7.5B | $3.7B |
股东权益ECLQVCD
| Q2 26 | $10.0M | — | ||
| Q4 25 | $9.8B | $1.2B | ||
| Q3 25 | $9.7B | $1.2B | ||
| Q2 25 | $9.3B | $1.2B | ||
| Q1 25 | $8.9B | $3.3B | ||
| Q4 24 | $8.8B | $3.3B | ||
| Q3 24 | $8.5B | $4.6B | ||
| Q2 24 | $8.3B | $4.3B |
总资产ECLQVCD
| Q2 26 | $25.0M | — | ||
| Q4 25 | $24.7B | $8.5B | ||
| Q3 25 | $23.9B | $8.3B | ||
| Q2 25 | $23.7B | $7.4B | ||
| Q1 25 | $22.4B | $9.7B | ||
| Q4 24 | $22.4B | $9.9B | ||
| Q3 24 | $22.1B | $9.9B | ||
| Q2 24 | $21.5B | $11.2B |
负债/权益比ECLQVCD
| Q2 26 | 0.85× | — | ||
| Q4 25 | 0.75× | 0.00× | ||
| Q3 25 | 0.83× | 4.30× | ||
| Q2 25 | 0.81× | 3.42× | ||
| Q1 25 | 0.79× | 1.22× | ||
| Q4 24 | 0.79× | 1.01× | ||
| Q3 24 | 0.82× | 0.73× | ||
| Q2 24 | 0.91× | 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ECLQVCD
| Q2 26 | — | — | ||
| Q4 25 | $1.1B | $245.0M | ||
| Q3 25 | $791.3M | $76.0M | ||
| Q2 25 | $701.8M | $52.0M | ||
| Q1 25 | $369.4M | $46.0M | ||
| Q4 24 | $766.7M | $189.0M | ||
| Q3 24 | $786.7M | $98.0M | ||
| Q2 24 | $611.1M | $164.0M |
自由现金流ECLQVCD
| Q2 26 | — | — | ||
| Q4 25 | $758.0M | — | ||
| Q3 25 | $529.7M | — | ||
| Q2 25 | $485.1M | — | ||
| Q1 25 | $131.5M | — | ||
| Q4 24 | $407.0M | — | ||
| Q3 24 | $550.3M | — | ||
| Q2 24 | $414.2M | — |
自由现金流率ECLQVCD
| Q2 26 | — | — | ||
| Q4 25 | 18.1% | — | ||
| Q3 25 | 12.7% | — | ||
| Q2 25 | 12.1% | — | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | 10.2% | — | ||
| Q3 24 | 13.8% | — | ||
| Q2 24 | 10.4% | — |
资本支出强度ECLQVCD
| Q2 26 | — | — | ||
| Q4 25 | 7.9% | — | ||
| Q3 25 | 6.3% | — | ||
| Q2 25 | 5.4% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 5.9% | — | ||
| Q2 24 | 4.9% | — |
现金转化率ECLQVCD
| Q2 26 | — | — | ||
| Q4 25 | 1.93× | 6.62× | ||
| Q3 25 | 1.35× | 38.00× | ||
| Q2 25 | 1.34× | — | ||
| Q1 25 | 0.92× | — | ||
| Q4 24 | 1.62× | — | ||
| Q3 24 | 1.07× | 1.92× | ||
| Q2 24 | 1.24× | 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
ECL
| Product and equipment sales | $3.2B | 78% |
| Service and lease sales | $891.5M | 22% |
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% |
