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罗技（LOGI）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.的季度营收约是罗技的1.9倍（$2.7B vs $1.4B），罗技净利率更高（17.7% vs -1.4%，领先19.0%），罗技同比增速更快（6.1% vs -9.1%），罗技自由现金流更多（$465.6M vs $191.0M），过去两年罗技的营收复合增速更高（18.5% vs 6.9%）
罗技国际是总部位于瑞士洛桑的跨国企业，专注于计算机外设及相关软件的研发与生产，在欧洲、亚洲、大洋洲、美洲均设有分支机构，为瑞士市场指数成分股，同时在纳斯达克交易所挂牌上市。
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。
LOGI 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
LOGI
高出15.2%
-9.1%
净利率更高
LOGI
高出19.0%
-1.4%
自由现金流更多
LOGI
多$274.6M
$191.0M
两年增速更快
LOGI
近两年复合增速
6.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.7B |
| 净利润 | $251.0M | $-37.0M |
| 毛利率 | 43.2% | 32.9% |
| 营业利润率 | 20.1% | 3.7% |
| 净利率 | 17.7% | -1.4% |
| 营收同比 | 6.1% | -9.1% |
| 净利润同比 | 25.4% | 97.1% |
| 每股收益（稀释后） | $1.69 | $-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LOGIQVCGA
| Q4 25 | $1.4B | $2.7B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $1.1B | $2.2B | ||
| Q1 25 | $1.0B | $2.1B | ||
| Q4 24 | $1.3B | $2.9B | ||
| Q3 24 | $1.1B | $2.3B | ||
| Q2 24 | $1.1B | $2.4B | ||
| Q1 24 | $1.0B | $2.3B |
净利润LOGIQVCGA
| Q4 25 | $251.0M | $-37.0M | ||
| Q3 25 | $170.7M | $-80.0M | ||
| Q2 25 | $146.0M | $-2.2B | ||
| Q1 25 | $144.1M | $-100.0M | ||
| Q4 24 | $200.1M | $-1.3B | ||
| Q3 24 | $145.5M | $-23.0M | ||
| Q2 24 | $141.8M | $20.0M | ||
| Q1 24 | $167.6M | $-1.0M |
毛利率LOGIQVCGA
| Q4 25 | 43.2% | 32.9% | ||
| Q3 25 | 43.4% | 34.0% | ||
| Q2 25 | 41.7% | 36.4% | ||
| Q1 25 | 43.1% | 34.2% | ||
| Q4 24 | 42.9% | 33.3% | ||
| Q3 24 | 43.6% | 35.3% | ||
| Q2 24 | 42.8% | 36.4% | ||
| Q1 24 | 43.2% | 35.5% |
营业利润率LOGIQVCGA
| Q4 25 | 20.1% | 3.7% | ||
| Q3 25 | 16.1% | 2.7% | ||
| Q2 25 | 14.1% | -101.6% | ||
| Q1 25 | 10.5% | 0.7% | ||
| Q4 24 | 17.5% | -43.2% | ||
| Q3 24 | 14.4% | 6.5% | ||
| Q2 24 | 14.1% | 6.9% | ||
| Q1 24 | 12.9% | 6.2% |
净利率LOGIQVCGA
| Q4 25 | 17.7% | -1.4% | ||
| Q3 25 | 14.4% | -3.6% | ||
| Q2 25 | 12.7% | -99.4% | ||
| Q1 25 | 14.3% | -4.8% | ||
| Q4 24 | 14.9% | -43.7% | ||
| Q3 24 | 13.0% | -1.0% | ||
| Q2 24 | 13.0% | 0.8% | ||
| Q1 24 | 16.6% | -0.0% |
每股收益（稀释后）LOGIQVCGA
| Q4 25 | $1.69 | $-17.37 | ||
| Q3 25 | $1.15 | $-9.89 | ||
| Q2 25 | $0.98 | $-275.46 | ||
| Q1 25 | $0.94 | $-0.25 | ||
| Q4 24 | $1.32 | — | ||
| Q3 24 | $0.95 | $-0.06 | ||
| Q2 24 | $0.92 | $2.57 | ||
| Q1 24 | $1.07 | — |
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 | $1.8B | $2.0B |
| 总债务越低越好 | — | $790.0M |
| 股东权益账面价值 | $2.3B | $-3.1B |
| 总资产 | $4.1B | $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LOGIQVCGA
| Q4 25 | $1.8B | $2.0B | ||
| Q3 25 | $1.4B | $1.8B | ||
| Q2 25 | $1.5B | $897.0M | ||
| Q1 25 | $1.5B | $833.0M | ||
| Q4 24 | $1.5B | $905.0M | ||
| Q3 24 | $1.4B | $873.0M | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.5B | $1.1B |
总债务LOGIQVCGA
| 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LOGIQVCGA
| Q4 25 | $2.3B | $-3.1B | ||
| Q3 25 | $2.1B | $-3.1B | ||
| Q2 25 | $2.2B | $-3.0B | ||
| Q1 25 | $2.1B | $-981.0M | ||
| Q4 24 | $2.1B | $-971.0M | ||
| Q3 24 | $2.1B | $397.0M | ||
| Q2 24 | $2.2B | $328.0M | ||
| Q1 24 | $2.2B | $255.0M |
总资产LOGIQVCGA
| Q4 25 | $4.1B | $7.6B | ||
| Q3 25 | $3.7B | $7.6B | ||
| Q2 25 | $3.7B | $6.7B | ||
| Q1 25 | $3.5B | $9.0B | ||
| Q4 24 | $3.7B | $9.2B | ||
| Q3 24 | $3.6B | $10.8B | ||
| Q2 24 | $3.7B | $10.9B | ||
| Q1 24 | $3.6B | $11.0B |
负债/权益比LOGIQVCGA
| 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 | $480.5M | $244.0M |
| 自由现金流经营现金流 - 资本支出 | $465.6M | $191.0M |
| 自由现金流率自由现金流/营收 | 32.8% | 7.1% |
| 资本支出强度资本支出/营收 | 1.0% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.91× | — |
| 过去12个月自由现金流最近4个季度 | $903.6M | $118.0M |
8季度趋势，按日历期对齐
经营现金流LOGIQVCGA
| Q4 25 | $480.5M | $244.0M | ||
| Q3 25 | $228.8M | $4.0M | ||
| Q2 25 | $125.0M | $86.0M | ||
| Q1 25 | $129.7M | $-60.0M | ||
| Q4 24 | $370.9M | $212.0M | ||
| Q3 24 | $166.0M | $20.0M | ||
| Q2 24 | $176.0M | $267.0M | ||
| Q1 24 | $239.1M | $26.0M |
自由现金流LOGIQVCGA
| Q4 25 | $465.6M | $191.0M | ||
| Q3 25 | $212.3M | $-27.0M | ||
| Q2 25 | $108.8M | $48.0M | ||
| Q1 25 | $116.9M | $-94.0M | ||
| Q4 24 | $356.6M | $150.0M | ||
| Q3 24 | $151.5M | $-23.0M | ||
| Q2 24 | $161.4M | $213.0M | ||
| Q1 24 | $228.8M | $-14.0M |
自由现金流率LOGIQVCGA
| Q4 25 | 32.8% | 7.1% | ||
| Q3 25 | 17.9% | -1.2% | ||
| Q2 25 | 9.5% | 2.1% | ||
| Q1 25 | 11.6% | -4.5% | ||
| Q4 24 | 26.6% | 5.1% | ||
| Q3 24 | 13.6% | -1.0% | ||
| Q2 24 | 14.8% | 8.8% | ||
| Q1 24 | 22.6% | -0.6% |
资本支出强度LOGIQVCGA
| Q4 25 | 1.0% | 2.0% | ||
| Q3 25 | 1.4% | 1.4% | ||
| Q2 25 | 1.4% | 1.7% | ||
| Q1 25 | 1.3% | 1.6% | ||
| Q4 24 | 1.1% | 2.1% | ||
| Q3 24 | 1.3% | 1.8% | ||
| Q2 24 | 1.3% | 2.2% | ||
| Q1 24 | 1.0% | 1.7% |
现金转化率LOGIQVCGA
| Q4 25 | 1.91× | — | ||
| Q3 25 | 1.34× | — | ||
| Q2 25 | 0.86× | — | ||
| Q1 25 | 0.90× | — | ||
| Q4 24 | 1.85× | — | ||
| Q3 24 | 1.14× | — | ||
| Q2 24 | 1.24× | 13.35× | ||
| Q1 24 | 1.43× | — |
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
LOGI
| Retail Gaming | $482.7M | 34% |
| Retail Keyboards Desktops | $254.6M | 18% |
| Retail Pointing Devices | $241.2M | 17% |
| Retail Video Collaboration | $193.3M | 14% |
| Retail Tablet And Other Accessories | $93.6M | 7% |
| Retail Webcams | $82.3M | 6% |
| Retail Headsets | $45.9M | 3% |
| Other Retail Products | $28.0M | 2% |
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% |
