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First American Financial Corp（FAF）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First American Financial Corp的1.2倍（$2.4B vs $2.0B），First American Financial Corp净利率更高（10.3% vs 1.5%，领先8.8%），First American Financial Corp同比增速更快（21.6% vs -8.9%），过去两年First American Financial Corp的营收复合增速更高（19.9% vs 7.1%）
第一美国金融公司是美国知名金融服务企业，主要面向房地产及抵押贷款行业开展业务，核心服务涵盖产权保险、房产交易与抵押业务相关的交割结算服务，在全球地产金融服务领域具备成熟的服务能力与较高的行业认可度。
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。
FAF vs QVCD — 直观对比
营收规模更大
QVCD
是对方的1.2倍
$2.0B
营收增速更快
FAF
高出30.6%
-8.9%
净利率更高
FAF
高出8.8%
1.5%
两年增速更快
FAF
近两年复合增速
7.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.4B |
| 净利润 | $211.9M | $37.0M |
| 毛利率 | — | 32.5% |
| 营业利润率 | 14.0% | 5.6% |
| 净利率 | 10.3% | 1.5% |
| 营收同比 | 21.6% | -8.9% |
| 净利润同比 | 192.7% | 103.0% |
| 每股收益（稀释后） | $2.04 | — |
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FAFQVCD
| Q4 25 | $2.0B | $2.4B | ||
| Q3 25 | $2.0B | $2.0B | ||
| Q2 25 | $1.8B | $2.0B | ||
| Q1 25 | $1.6B | $1.9B | ||
| Q4 24 | $1.7B | $2.7B | ||
| Q3 24 | $1.4B | $2.1B | ||
| Q2 24 | $1.6B | $2.1B | ||
| Q1 24 | $1.4B | $2.1B |
净利润FAFQVCD
| Q4 25 | $211.9M | $37.0M | ||
| Q3 25 | $189.6M | $2.0M | ||
| Q2 25 | $146.1M | $-2.2B | ||
| Q1 25 | $74.2M | $-42.0M | ||
| Q4 24 | $72.4M | $-1.2B | ||
| Q3 24 | $-104.0M | $51.0M | ||
| Q2 24 | $116.0M | $53.0M | ||
| Q1 24 | $46.7M | $51.0M |
毛利率FAFQVCD
| 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% | ||
| Q1 24 | — | 35.0% |
营业利润率FAFQVCD
| Q4 25 | 14.0% | 5.6% | ||
| Q3 25 | 12.5% | 4.6% | ||
| Q2 25 | 10.6% | -114.5% | ||
| Q1 25 | 6.1% | 1.5% | ||
| Q4 24 | 5.9% | -47.1% | ||
| Q3 24 | -10.3% | 7.8% | ||
| Q2 24 | 9.4% | 7.6% | ||
| Q1 24 | 4.1% | 7.4% |
净利率FAFQVCD
| Q4 25 | 10.3% | 1.5% | ||
| Q3 25 | 9.6% | 0.1% | ||
| Q2 25 | 7.9% | -109.1% | ||
| Q1 25 | 4.7% | -2.2% | ||
| Q4 24 | 4.3% | -46.0% | ||
| Q3 24 | -7.4% | 2.4% | ||
| Q2 24 | 7.2% | 2.5% | ||
| Q1 24 | 3.3% | 2.4% |
每股收益（稀释后）FAFQVCD
| Q4 25 | $2.04 | — | ||
| Q3 25 | $1.84 | — | ||
| Q2 25 | $1.41 | — | ||
| Q1 25 | $0.71 | — | ||
| Q4 24 | $0.70 | — | ||
| Q3 24 | $-1.00 | — | ||
| Q2 24 | $1.11 | — | ||
| Q1 24 | $0.45 | — |
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 | $1.4B | $1.5B |
| 总债务越低越好 | — | $1.0M |
| 股东权益账面价值 | $5.5B | $1.2B |
| 总资产 | $16.2B | $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FAFQVCD
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $1.7B | $297.0M | ||
| Q3 24 | $3.0B | $297.0M | ||
| Q2 24 | $2.0B | $315.0M | ||
| Q1 24 | $1.5B | $311.0M |
总债务FAFQVCD
| 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 | ||
| Q1 24 | — | $3.8B |
股东权益FAFQVCD
| Q4 25 | $5.5B | $1.2B | ||
| Q3 25 | $5.3B | $1.2B | ||
| Q2 25 | $5.1B | $1.2B | ||
| Q1 25 | $5.0B | $3.3B | ||
| Q4 24 | $4.9B | $3.3B | ||
| Q3 24 | $5.1B | $4.6B | ||
| Q2 24 | $4.8B | $4.3B | ||
| Q1 24 | $4.8B | $4.2B |
总资产FAFQVCD
| Q4 25 | $16.2B | $8.5B | ||
| Q3 25 | $17.6B | $8.3B | ||
| Q2 25 | $16.3B | $7.4B | ||
| Q1 25 | $15.5B | $9.7B | ||
| Q4 24 | $14.9B | $9.9B | ||
| Q3 24 | $16.6B | $9.9B | ||
| Q2 24 | $15.2B | $11.2B | ||
| Q1 24 | $14.7B | $11.4B |
负债/权益比FAFQVCD
| 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× | ||
| Q1 24 | — | 0.89× |
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 | $369.3M | $245.0M |
| 自由现金流经营现金流 - 资本支出 | $324.5M | — |
| 自由现金流率自由现金流/营收 | 15.8% | — |
| 资本支出强度资本支出/营收 | 2.2% | — |
| 现金转化率经营现金流/净利润 | 1.74× | 6.62× |
| 过去12个月自由现金流最近4个季度 | $762.5M | — |
8季度趋势，按日历期对齐
经营现金流FAFQVCD
| Q4 25 | $369.3M | $245.0M | ||
| Q3 25 | $272.5M | $76.0M | ||
| Q2 25 | $361.8M | $52.0M | ||
| Q1 25 | $-52.8M | $46.0M | ||
| Q4 24 | $324.6M | $189.0M | ||
| Q3 24 | $236.9M | $98.0M | ||
| Q2 24 | $266.7M | $164.0M | ||
| Q1 24 | $69.3M | $84.0M |
自由现金流FAFQVCD
| Q4 25 | $324.5M | — | ||
| Q3 25 | $223.1M | — | ||
| Q2 25 | $309.4M | — | ||
| Q1 25 | $-94.5M | — | ||
| Q4 24 | $266.2M | — | ||
| Q3 24 | $185.4M | — | ||
| Q2 24 | $210.0M | — | ||
| Q1 24 | $17.6M | — |
自由现金流率FAFQVCD
| Q4 25 | 15.8% | — | ||
| Q3 25 | 11.3% | — | ||
| Q2 25 | 16.8% | — | ||
| Q1 25 | -6.0% | — | ||
| Q4 24 | 15.8% | — | ||
| Q3 24 | 13.2% | — | ||
| Q2 24 | 13.0% | — | ||
| Q1 24 | 1.2% | — |
资本支出强度FAFQVCD
| Q4 25 | 2.2% | — | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | 3.5% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 3.6% | — |
现金转化率FAFQVCD
| Q4 25 | 1.74× | 6.62× | ||
| Q3 25 | 1.44× | 38.00× | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | -0.71× | — | ||
| Q4 24 | 4.48× | — | ||
| Q3 24 | — | 1.92× | ||
| Q2 24 | 2.30× | 3.09× | ||
| Q1 24 | 1.48× | 1.65× |
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
FAF
| Title Insurance And Services | $1.9B | 94% |
| Home Warranty | $110.3M | 5% |
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% |
