vs
EPAM Systems（EPAM）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EPAM Systems的1.9倍（$2.7B vs $1.4B），EPAM Systems净利率更高（7.8% vs -1.4%，领先9.2%），EPAM Systems同比增速更快（12.8% vs -9.1%），EPAM Systems自由现金流更多（$268.1M vs $191.0M），过去两年EPAM Systems的营收复合增速更高（9.9% vs 6.9%）
EPAM Systems是总部位于美国宾夕法尼亚州纽敦的企业，核心业务涵盖软件工程服务、数字平台研发、数字产品设计三大板块，同时是MACH联盟的创始成员，在全球数字化服务赛道拥有深厚的技术积累与行业认可度。
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。
EPAM vs QVCGA — 直观对比
营收规模更大
QVCGA
是对方的1.9倍
$1.4B
营收增速更快
EPAM
高出21.9%
-9.1%
净利率更高
EPAM
高出9.2%
-1.4%
自由现金流更多
EPAM
多$77.1M
$191.0M
两年增速更快
EPAM
近两年复合增速
6.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.7B |
| 净利润 | $109.4M | $-37.0M |
| 毛利率 | 30.1% | 32.9% |
| 营业利润率 | 10.6% | 3.7% |
| 净利率 | 7.8% | -1.4% |
| 营收同比 | 12.8% | -9.1% |
| 净利润同比 | 5.9% | 97.1% |
| 每股收益（稀释后） | $1.97 | $-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EPAMQVCGA
| Q4 25 | $1.4B | $2.7B | ||
| Q3 25 | $1.4B | $2.2B | ||
| Q2 25 | $1.4B | $2.2B | ||
| Q1 25 | $1.3B | $2.1B | ||
| Q4 24 | $1.2B | $2.9B | ||
| Q3 24 | $1.2B | $2.3B | ||
| Q2 24 | $1.1B | $2.4B | ||
| Q1 24 | $1.2B | $2.3B |
净利润EPAMQVCGA
| Q4 25 | $109.4M | $-37.0M | ||
| Q3 25 | $106.8M | $-80.0M | ||
| Q2 25 | $88.0M | $-2.2B | ||
| Q1 25 | $73.5M | $-100.0M | ||
| Q4 24 | $103.3M | $-1.3B | ||
| Q3 24 | $136.3M | $-23.0M | ||
| Q2 24 | $98.6M | $20.0M | ||
| Q1 24 | $116.2M | $-1.0M |
毛利率EPAMQVCGA
| Q4 25 | 30.1% | 32.9% | ||
| Q3 25 | 29.5% | 34.0% | ||
| Q2 25 | 28.8% | 36.4% | ||
| Q1 25 | 26.9% | 34.2% | ||
| Q4 24 | 30.4% | 33.3% | ||
| Q3 24 | 34.6% | 35.3% | ||
| Q2 24 | 29.3% | 36.4% | ||
| Q1 24 | 28.4% | 35.5% |
营业利润率EPAMQVCGA
| Q4 25 | 10.6% | 3.7% | ||
| Q3 25 | 10.4% | 2.7% | ||
| Q2 25 | 9.3% | -101.6% | ||
| Q1 25 | 7.6% | 0.7% | ||
| Q4 24 | 10.9% | -43.2% | ||
| Q3 24 | 15.2% | 6.5% | ||
| Q2 24 | 10.5% | 6.9% | ||
| Q1 24 | 9.5% | 6.2% |
净利率EPAMQVCGA
| Q4 25 | 7.8% | -1.4% | ||
| Q3 25 | 7.7% | -3.6% | ||
| Q2 25 | 6.5% | -99.4% | ||
| Q1 25 | 5.6% | -4.8% | ||
| Q4 24 | 8.3% | -43.7% | ||
| Q3 24 | 11.7% | -1.0% | ||
| Q2 24 | 8.6% | 0.8% | ||
| Q1 24 | 10.0% | -0.0% |
每股收益（稀释后）EPAMQVCGA
| Q4 25 | $1.97 | $-17.37 | ||
| Q3 25 | $1.91 | $-9.89 | ||
| Q2 25 | $1.56 | $-275.46 | ||
| Q1 25 | $1.28 | $-0.25 | ||
| Q4 24 | $1.80 | — | ||
| Q3 24 | $2.37 | $-0.06 | ||
| Q2 24 | $1.70 | $2.57 | ||
| Q1 24 | $1.97 | — |
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 | $1.3B | $2.0B |
| 总债务越低越好 | — | $790.0M |
| 股东权益账面价值 | $3.7B | $-3.1B |
| 总资产 | $4.9B | $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EPAMQVCGA
| Q4 25 | $1.3B | $2.0B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.0B | $897.0M | ||
| Q1 25 | $1.2B | $833.0M | ||
| Q4 24 | $1.3B | $905.0M | ||
| Q3 24 | $2.1B | $873.0M | ||
| Q2 24 | $1.8B | $1.2B | ||
| Q1 24 | $2.0B | $1.1B |
总债务EPAMQVCGA
| 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 |
股东权益EPAMQVCGA
| Q4 25 | $3.7B | $-3.1B | ||
| Q3 25 | $3.7B | $-3.1B | ||
| Q2 25 | $3.7B | $-3.0B | ||
| Q1 25 | $3.6B | $-981.0M | ||
| Q4 24 | $3.6B | $-971.0M | ||
| Q3 24 | $3.6B | $397.0M | ||
| Q2 24 | $3.4B | $328.0M | ||
| Q1 24 | $3.5B | $255.0M |
总资产EPAMQVCGA
| Q4 25 | $4.9B | $7.6B | ||
| Q3 25 | $4.8B | $7.6B | ||
| Q2 25 | $4.7B | $6.7B | ||
| Q1 25 | $4.7B | $9.0B | ||
| Q4 24 | $4.8B | $9.2B | ||
| Q3 24 | $4.5B | $10.8B | ||
| Q2 24 | $4.2B | $10.9B | ||
| Q1 24 | $4.4B | $11.0B |
负债/权益比EPAMQVCGA
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 12.74× | ||
| Q2 24 | — | 16.28× | ||
| Q1 24 | — | 21.53× |
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 | $282.9M | $244.0M |
| 自由现金流经营现金流 - 资本支出 | $268.1M | $191.0M |
| 自由现金流率自由现金流/营收 | 19.0% | 7.1% |
| 资本支出强度资本支出/营收 | 1.1% | 2.0% |
| 现金转化率经营现金流/净利润 | 2.59× | — |
| 过去12个月自由现金流最近4个季度 | $612.7M | $118.0M |
8季度趋势，按日历期对齐
经营现金流EPAMQVCGA
| Q4 25 | $282.9M | $244.0M | ||
| Q3 25 | $294.7M | $4.0M | ||
| Q2 25 | $53.2M | $86.0M | ||
| Q1 25 | $24.2M | $-60.0M | ||
| Q4 24 | $130.3M | $212.0M | ||
| Q3 24 | $242.0M | $20.0M | ||
| Q2 24 | $57.0M | $267.0M | ||
| Q1 24 | $129.9M | $26.0M |
自由现金流EPAMQVCGA
| Q4 25 | $268.1M | $191.0M | ||
| Q3 25 | $286.4M | $-27.0M | ||
| Q2 25 | $43.4M | $48.0M | ||
| Q1 25 | $14.8M | $-94.0M | ||
| Q4 24 | $114.5M | $150.0M | ||
| Q3 24 | $237.0M | $-23.0M | ||
| Q2 24 | $52.3M | $213.0M | ||
| Q1 24 | $123.2M | $-14.0M |
自由现金流率EPAMQVCGA
| Q4 25 | 19.0% | 7.1% | ||
| Q3 25 | 20.5% | -1.2% | ||
| Q2 25 | 3.2% | 2.1% | ||
| Q1 25 | 1.1% | -4.5% | ||
| Q4 24 | 9.2% | 5.1% | ||
| Q3 24 | 20.3% | -1.0% | ||
| Q2 24 | 4.6% | 8.8% | ||
| Q1 24 | 10.6% | -0.6% |
资本支出强度EPAMQVCGA
| Q4 25 | 1.1% | 2.0% | ||
| Q3 25 | 0.6% | 1.4% | ||
| Q2 25 | 0.7% | 1.7% | ||
| Q1 25 | 0.7% | 1.6% | ||
| Q4 24 | 1.3% | 2.1% | ||
| Q3 24 | 0.4% | 1.8% | ||
| Q2 24 | 0.4% | 2.2% | ||
| Q1 24 | 0.6% | 1.7% |
现金转化率EPAMQVCGA
| Q4 25 | 2.59× | — | ||
| Q3 25 | 2.76× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.77× | — | ||
| Q2 24 | 0.58× | 13.35× | ||
| Q1 24 | 1.12× | — |
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
EPAM
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% |
