vs
诺唯真游轮控股（LINE）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.的季度营收约是诺唯真游轮控股的1.9倍（$2.7B vs $1.4B），QVC Group, Inc.净利率更高（-1.4% vs -7.3%，领先5.9%），诺唯真游轮控股同比增速更快（3.1% vs -9.1%），QVC Group, Inc.自由现金流更多（$191.0M vs $35.0M）
诺唯真游轮控股是一家总部位于美国、注册地为百慕大的企业，旗下全资运营诺唯真游轮、大洋游轮、丽晶七海游轮三大品牌，合并业务规模位列全球游轮运营商第三位，目前在纽约证券交易所挂牌上市。
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。
LINE 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
LINE
高出12.2%
-9.1%
净利率更高
QVCGA
高出5.9%
-7.3%
自由现金流更多
QVCGA
多$156.0M
$35.0M
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.7B |
| 净利润 | $-100.0M | $-37.0M |
| 毛利率 | 32.3% | 32.9% |
| 营业利润率 | 2.5% | 3.7% |
| 净利率 | -7.3% | -1.4% |
| 营收同比 | 3.1% | -9.1% |
| 净利润同比 | 79.4% | 97.1% |
| 每股收益（稀释后） | $-0.44 | $-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LINEQVCGA
| Q4 25 | — | $2.7B | ||
| Q3 25 | $1.4B | $2.2B | ||
| Q2 25 | $1.4B | $2.2B | ||
| Q1 25 | $1.3B | $2.1B | ||
| Q4 24 | $1.3B | $2.9B | ||
| Q3 24 | $1.3B | $2.3B | ||
| Q2 24 | $1.3B | $2.4B | ||
| Q1 24 | $1.3B | $2.3B |
净利润LINEQVCGA
| Q4 25 | — | $-37.0M | ||
| Q3 25 | $-100.0M | $-80.0M | ||
| Q2 25 | $-6.0M | $-2.2B | ||
| Q1 25 | $0 | $-100.0M | ||
| Q4 24 | $-71.0M | $-1.3B | ||
| Q3 24 | $-485.0M | $-23.0M | ||
| Q2 24 | $-68.0M | $20.0M | ||
| Q1 24 | $-40.0M | $-1.0M |
毛利率LINEQVCGA
| Q4 25 | — | 32.9% | ||
| Q3 25 | 32.3% | 34.0% | ||
| Q2 25 | 31.9% | 36.4% | ||
| Q1 25 | 32.2% | 34.2% | ||
| Q4 24 | 32.3% | 33.3% | ||
| Q3 24 | 32.8% | 35.3% | ||
| Q2 24 | 33.4% | 36.4% | ||
| Q1 24 | 33.4% | 35.5% |
营业利润率LINEQVCGA
| Q4 25 | — | 3.7% | ||
| Q3 25 | 2.5% | 2.7% | ||
| Q2 25 | 1.7% | -101.6% | ||
| Q1 25 | 4.3% | 0.7% | ||
| Q4 24 | -1.6% | -43.2% | ||
| Q3 24 | -38.6% | 6.5% | ||
| Q2 24 | 5.5% | 6.9% | ||
| Q1 24 | 7.6% | 6.2% |
净利率LINEQVCGA
| Q4 25 | — | -1.4% | ||
| Q3 25 | -7.3% | -3.6% | ||
| Q2 25 | -0.4% | -99.4% | ||
| Q1 25 | — | -4.8% | ||
| Q4 24 | -5.3% | -43.7% | ||
| Q3 24 | -36.3% | -1.0% | ||
| Q2 24 | -5.1% | 0.8% | ||
| Q1 24 | -3.0% | -0.0% |
每股收益（稀释后）LINEQVCGA
| Q4 25 | — | $-17.37 | ||
| Q3 25 | $-0.44 | $-9.89 | ||
| Q2 25 | $-0.03 | $-275.46 | ||
| Q1 25 | $0.01 | $-0.25 | ||
| Q4 24 | $-0.52 | — | ||
| Q3 24 | $-2.44 | $-0.06 | ||
| Q2 24 | $-0.46 | $2.57 | ||
| Q1 24 | $-0.28 | — |
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 | — | $2.0B |
| 总债务越低越好 | — | $790.0M |
| 股东权益账面价值 | $8.4B | $-3.1B |
| 总资产 | $19.2B | $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LINEQVCGA
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $897.0M | ||
| Q1 25 | — | $833.0M | ||
| Q4 24 | $173.0M | $905.0M | ||
| Q3 24 | $409.0M | $873.0M | ||
| Q2 24 | $73.0M | $1.2B | ||
| Q1 24 | — | $1.1B |
总债务LINEQVCGA
| 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LINEQVCGA
| Q4 25 | — | $-3.1B | ||
| Q3 25 | $8.4B | $-3.1B | ||
| Q2 25 | $8.6B | $-3.0B | ||
| Q1 25 | $8.6B | $-981.0M | ||
| Q4 24 | $8.6B | $-971.0M | ||
| Q3 24 | $9.0B | $397.0M | ||
| Q2 24 | $4.9B | $328.0M | ||
| Q1 24 | $5.6B | $255.0M |
总资产LINEQVCGA
| Q4 25 | — | $7.6B | ||
| Q3 25 | $19.2B | $7.6B | ||
| Q2 25 | $19.4B | $6.7B | ||
| Q1 25 | $18.8B | $9.0B | ||
| Q4 24 | $18.7B | $9.2B | ||
| Q3 24 | $19.3B | $10.8B | ||
| Q2 24 | $18.8B | $10.9B | ||
| Q1 24 | — | $11.0B |
负债/权益比LINEQVCGA
| 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 | $230.0M | $244.0M |
| 自由现金流经营现金流 - 资本支出 | $35.0M | $191.0M |
| 自由现金流率自由现金流/营收 | 2.5% | 7.1% |
| 资本支出强度资本支出/营收 | 14.2% | 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LINEQVCGA
| Q4 25 | — | $244.0M | ||
| Q3 25 | $230.0M | $4.0M | ||
| Q2 25 | $258.0M | $86.0M | ||
| Q1 25 | $139.0M | $-60.0M | ||
| Q4 24 | — | $212.0M | ||
| Q3 24 | $186.0M | $20.0M | ||
| Q2 24 | $155.0M | $267.0M | ||
| Q1 24 | $105.0M | $26.0M |
自由现金流LINEQVCGA
| Q4 25 | — | $191.0M | ||
| Q3 25 | $35.0M | $-27.0M | ||
| Q2 25 | $95.0M | $48.0M | ||
| Q1 25 | $-12.0M | $-94.0M | ||
| Q4 24 | — | $150.0M | ||
| Q3 24 | $33.0M | $-23.0M | ||
| Q2 24 | $-31.0M | $213.0M | ||
| Q1 24 | $-42.0M | $-14.0M |
自由现金流率LINEQVCGA
| Q4 25 | — | 7.1% | ||
| Q3 25 | 2.5% | -1.2% | ||
| Q2 25 | 7.0% | 2.1% | ||
| Q1 25 | -0.9% | -4.5% | ||
| Q4 24 | — | 5.1% | ||
| Q3 24 | 2.5% | -1.0% | ||
| Q2 24 | -2.3% | 8.8% | ||
| Q1 24 | -3.2% | -0.6% |
资本支出强度LINEQVCGA
| Q4 25 | — | 2.0% | ||
| Q3 25 | 14.2% | 1.4% | ||
| Q2 25 | 12.1% | 1.7% | ||
| Q1 25 | 11.7% | 1.6% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | 11.5% | 1.8% | ||
| Q2 24 | 13.9% | 2.2% | ||
| Q1 24 | 11.1% | 1.7% |
现金转化率LINEQVCGA
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 13.35× | ||
| Q1 24 | — | — |
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
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
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% |
