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ServiceNow（NOW）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
ServiceNow的季度营收约是QVC Group, Inc.的1.4倍（$3.8B vs $2.7B），ServiceNow净利率更高（12.4% vs -1.4%，领先13.8%），ServiceNow同比增速更快（2.8% vs -9.1%），ServiceNow自由现金流更多（$1.7B vs $191.0M），过去两年ServiceNow的营收复合增速更高（19.8% vs 6.9%）
ServiceNow是2003年由弗雷德·卢迪在美国加利福尼亚州圣克拉拉创立的软件企业，主打云计算平台产品，可支持企业搭建及管理自动化业务工作流。公司于纽交所上市，现为标普100及标普500指数成分股。
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。
NOW vs QVCGA — 直观对比
营收规模更大
NOW
是对方的1.4倍
$2.7B
营收增速更快
NOW
高出11.9%
-9.1%
净利率更高
NOW
高出13.8%
-1.4%
自由现金流更多
NOW
多$1.5B
$191.0M
两年增速更快
NOW
近两年复合增速
6.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $2.7B |
| 净利润 | $469.0M | $-37.0M |
| 毛利率 | 75.1% | 32.9% |
| 营业利润率 | 13.3% | 3.7% |
| 净利率 | 12.4% | -1.4% |
| 营收同比 | 2.8% | -9.1% |
| 净利润同比 | -53.7% | 97.1% |
| 每股收益（稀释后） | $1.04 | $-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NOWQVCGA
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.6B | $2.7B | ||
| Q3 25 | $3.4B | $2.2B | ||
| Q2 25 | $3.2B | $2.2B | ||
| Q1 25 | $3.1B | $2.1B | ||
| Q4 24 | $3.0B | $2.9B | ||
| Q3 24 | $2.8B | $2.3B | ||
| Q2 24 | $2.6B | $2.4B |
净利润NOWQVCGA
| Q1 26 | $469.0M | — | ||
| Q4 25 | $401.0M | $-37.0M | ||
| Q3 25 | $502.0M | $-80.0M | ||
| Q2 25 | $385.0M | $-2.2B | ||
| Q1 25 | $460.0M | $-100.0M | ||
| Q4 24 | $384.0M | $-1.3B | ||
| Q3 24 | $432.0M | $-23.0M | ||
| Q2 24 | $262.0M | $20.0M |
毛利率NOWQVCGA
| Q1 26 | 75.1% | — | ||
| Q4 25 | 76.6% | 32.9% | ||
| Q3 25 | 77.3% | 34.0% | ||
| Q2 25 | 77.5% | 36.4% | ||
| Q1 25 | 78.9% | 34.2% | ||
| Q4 24 | 78.7% | 33.3% | ||
| Q3 24 | 79.1% | 35.3% | ||
| Q2 24 | 79.0% | 36.4% |
营业利润率NOWQVCGA
| Q1 26 | 13.3% | — | ||
| Q4 25 | 12.4% | 3.7% | ||
| Q3 25 | 16.8% | 2.7% | ||
| Q2 25 | 11.1% | -101.6% | ||
| Q1 25 | 14.6% | 0.7% | ||
| Q4 24 | 12.6% | -43.2% | ||
| Q3 24 | 14.9% | 6.5% | ||
| Q2 24 | 9.1% | 6.9% |
净利率NOWQVCGA
| Q1 26 | 12.4% | — | ||
| Q4 25 | 11.2% | -1.4% | ||
| Q3 25 | 14.7% | -3.6% | ||
| Q2 25 | 12.0% | -99.4% | ||
| Q1 25 | 14.9% | -4.8% | ||
| Q4 24 | 13.0% | -43.7% | ||
| Q3 24 | 15.4% | -1.0% | ||
| Q2 24 | 10.0% | 0.8% |
每股收益（稀释后）NOWQVCGA
| Q1 26 | $1.04 | — | ||
| Q4 25 | $-4.77 | $-17.37 | ||
| Q3 25 | $2.40 | $-9.89 | ||
| Q2 25 | $1.84 | $-275.46 | ||
| Q1 25 | $2.20 | $-0.25 | ||
| Q4 24 | $1.84 | — | ||
| Q3 24 | $2.07 | $-0.06 | ||
| Q2 24 | $1.26 | $2.57 |
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 | $2.7B | $2.0B |
| 总债务越低越好 | — | $790.0M |
| 股东权益账面价值 | $11.7B | $-3.1B |
| 总资产 | $24.4B | $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NOWQVCGA
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.7B | $2.0B | ||
| Q3 25 | $2.7B | $1.8B | ||
| Q2 25 | $3.1B | $897.0M | ||
| Q1 25 | $3.4B | $833.0M | ||
| Q4 24 | $2.3B | $905.0M | ||
| Q3 24 | $1.9B | $873.0M | ||
| Q2 24 | $2.2B | $1.2B |
总债务NOWQVCGA
| Q1 26 | — | — | ||
| 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 |
股东权益NOWQVCGA
| Q1 26 | $11.7B | — | ||
| Q4 25 | $13.0B | $-3.1B | ||
| Q3 25 | $11.3B | $-3.1B | ||
| Q2 25 | $10.9B | $-3.0B | ||
| Q1 25 | $10.1B | $-981.0M | ||
| Q4 24 | $9.6B | $-971.0M | ||
| Q3 24 | $9.3B | $397.0M | ||
| Q2 24 | $8.7B | $328.0M |
总资产NOWQVCGA
| Q1 26 | $24.4B | — | ||
| Q4 25 | $26.0B | $7.6B | ||
| Q3 25 | $21.8B | $7.6B | ||
| Q2 25 | $22.1B | $6.7B | ||
| Q1 25 | $21.0B | $9.0B | ||
| Q4 24 | $20.4B | $9.2B | ||
| Q3 24 | $18.4B | $10.8B | ||
| Q2 24 | $18.2B | $10.9B |
负债/权益比NOWQVCGA
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 12.74× | ||
| Q2 24 | — | 16.28× |
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 | $1.7B | $244.0M |
| 自由现金流经营现金流 - 资本支出 | $1.7B | $191.0M |
| 自由现金流率自由现金流/营收 | 44.2% | 7.1% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 现金转化率经营现金流/净利润 | 3.56× | — |
| 过去12个月自由现金流最近4个季度 | $4.8B | $118.0M |
8季度趋势，按日历期对齐
经营现金流NOWQVCGA
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.2B | $244.0M | ||
| Q3 25 | $813.0M | $4.0M | ||
| Q2 25 | $716.0M | $86.0M | ||
| Q1 25 | $1.7B | $-60.0M | ||
| Q4 24 | $1.6B | $212.0M | ||
| Q3 24 | $671.0M | $20.0M | ||
| Q2 24 | $620.0M | $267.0M |
自由现金流NOWQVCGA
| Q1 26 | $1.7B | — | ||
| Q4 25 | $2.0B | $191.0M | ||
| Q3 25 | $578.0M | $-27.0M | ||
| Q2 25 | $526.0M | $48.0M | ||
| Q1 25 | $1.5B | $-94.0M | ||
| Q4 24 | $1.4B | $150.0M | ||
| Q3 24 | $469.0M | $-23.0M | ||
| Q2 24 | $358.0M | $213.0M |
自由现金流率NOWQVCGA
| Q1 26 | 44.2% | — | ||
| Q4 25 | 56.1% | 7.1% | ||
| Q3 25 | 17.0% | -1.2% | ||
| Q2 25 | 16.4% | 2.1% | ||
| Q1 25 | 47.7% | -4.5% | ||
| Q4 24 | 46.7% | 5.1% | ||
| Q3 24 | 16.8% | -1.0% | ||
| Q2 24 | 13.6% | 8.8% |
资本支出强度NOWQVCGA
| Q1 26 | — | — | ||
| Q4 25 | 6.7% | 2.0% | ||
| Q3 25 | 6.9% | 1.4% | ||
| Q2 25 | 5.9% | 1.7% | ||
| Q1 25 | 6.6% | 1.6% | ||
| Q4 24 | 8.6% | 2.1% | ||
| Q3 24 | 7.2% | 1.8% | ||
| Q2 24 | 10.0% | 2.2% |
现金转化率NOWQVCGA
| Q1 26 | 3.56× | — | ||
| Q4 25 | 5.58× | — | ||
| Q3 25 | 1.62× | — | ||
| Q2 25 | 1.86× | — | ||
| Q1 25 | 3.65× | — | ||
| Q4 24 | 4.26× | — | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 2.37× | 13.35× |
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
NOW
| Subscription revenues | $3.7B | 97% |
| Other | $99.0M | 3% |
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% |
