vs
百济神州（ONC）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的季度营收约是百济神州的1.6倍（$2.4B vs $1.5B），百济神州净利率更高（4.4% vs 1.5%，领先2.9%），百济神州同比增速更快（32.8% vs -8.9%），过去两年百济神州的营收复合增速更高（41.2% vs 7.1%）
BeOne Medicines（原百济神州）是一家跨国肿瘤领域制药企业，专注于癌症治疗创新药物的研发与商业化，致力于为全球癌症患者提供更有效、可及性更高的治疗方案，改善患者的生存质量与预后。
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。
ONC vs QVCD — 直观对比
营收规模更大
QVCD
是对方的1.6倍
$1.5B
营收增速更快
ONC
高出41.8%
-8.9%
净利率更高
ONC
高出2.9%
1.5%
两年增速更快
ONC
近两年复合增速
7.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $2.4B |
| 净利润 | $66.5M | $37.0M |
| 毛利率 | 90.5% | 32.5% |
| 营业利润率 | 12.4% | 5.6% |
| 净利率 | 4.4% | 1.5% |
| 营收同比 | 32.8% | -8.9% |
| 净利润同比 | 143.8% | 103.0% |
| 每股收益（稀释后） | $0.05 | — |
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ONCQVCD
| Q4 25 | $1.5B | $2.4B | ||
| Q3 25 | $1.4B | $2.0B | ||
| Q2 25 | $1.3B | $2.0B | ||
| Q1 25 | $1.1B | $1.9B | ||
| Q4 24 | $1.1B | $2.7B | ||
| Q3 24 | $1.0B | $2.1B | ||
| Q2 24 | $929.2M | $2.1B | ||
| Q1 24 | $751.7M | $2.1B |
净利润ONCQVCD
| Q4 25 | $66.5M | $37.0M | ||
| Q3 25 | $124.8M | $2.0M | ||
| Q2 25 | $94.3M | $-2.2B | ||
| Q1 25 | $1.3M | $-42.0M | ||
| Q4 24 | $-151.9M | $-1.2B | ||
| Q3 24 | $-121.3M | $51.0M | ||
| Q2 24 | $-120.4M | $53.0M | ||
| Q1 24 | $-251.2M | $51.0M |
毛利率ONCQVCD
| Q4 25 | 90.5% | 32.5% | ||
| Q3 25 | 86.1% | 33.6% | ||
| Q2 25 | 87.5% | 35.4% | ||
| Q1 25 | 85.2% | 33.3% | ||
| Q4 24 | 85.8% | 32.6% | ||
| Q3 24 | 83.0% | 34.7% | ||
| Q2 24 | 85.1% | 35.6% | ||
| Q1 24 | 83.4% | 35.0% |
营业利润率ONCQVCD
| Q4 25 | 12.4% | 5.6% | ||
| Q3 25 | 11.5% | 4.6% | ||
| Q2 25 | 6.7% | -114.5% | ||
| Q1 25 | 1.0% | 1.5% | ||
| Q4 24 | -7.0% | -47.1% | ||
| Q3 24 | -12.0% | 7.8% | ||
| Q2 24 | -11.5% | 7.6% | ||
| Q1 24 | -34.8% | 7.4% |
净利率ONCQVCD
| Q4 25 | 4.4% | 1.5% | ||
| Q3 25 | 8.8% | 0.1% | ||
| Q2 25 | 7.2% | -109.1% | ||
| Q1 25 | 0.1% | -2.2% | ||
| Q4 24 | -13.5% | -46.0% | ||
| Q3 24 | -12.1% | 2.4% | ||
| Q2 24 | -13.0% | 2.5% | ||
| Q1 24 | -33.4% | 2.4% |
每股收益（稀释后）ONCQVCD
| Q4 25 | $0.05 | — | ||
| Q3 25 | $0.08 | — | ||
| Q2 25 | $0.06 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $-0.10 | — | ||
| Q3 24 | $-0.09 | — | ||
| Q2 24 | $-0.09 | — | ||
| Q1 24 | $-0.19 | — |
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 | $4.5B | $1.5B |
| 总债务越低越好 | $836.4M | $1.0M |
| 股东权益账面价值 | $4.4B | $1.2B |
| 总资产 | $8.2B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.19× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资ONCQVCD
| Q4 25 | $4.5B | $1.5B | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $2.8B | — | ||
| Q1 25 | $2.5B | — | ||
| Q4 24 | $2.6B | $297.0M | ||
| Q3 24 | $2.7B | $297.0M | ||
| Q2 24 | $2.6B | $315.0M | ||
| Q1 24 | $2.8B | $311.0M |
总债务ONCQVCD
| Q4 25 | $836.4M | $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ONCQVCD
| Q4 25 | $4.4B | $1.2B | ||
| Q3 25 | $4.1B | $1.2B | ||
| Q2 25 | $3.8B | $1.2B | ||
| Q1 25 | $3.5B | $3.3B | ||
| Q4 24 | $3.3B | $3.3B | ||
| Q3 24 | $3.4B | $4.6B | ||
| Q2 24 | $3.4B | $4.3B | ||
| Q1 24 | $3.4B | $4.2B |
总资产ONCQVCD
| Q4 25 | $8.2B | $8.5B | ||
| Q3 25 | $7.6B | $8.3B | ||
| Q2 25 | $6.3B | $7.4B | ||
| Q1 25 | $5.8B | $9.7B | ||
| Q4 24 | $5.9B | $9.9B | ||
| Q3 24 | $5.8B | $9.9B | ||
| Q2 24 | $5.7B | $11.2B | ||
| Q1 24 | $5.7B | $11.4B |
负债/权益比ONCQVCD
| Q4 25 | 0.19× | 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 | $417.3M | $245.0M |
| 自由现金流经营现金流 - 资本支出 | $379.8M | — |
| 自由现金流率自由现金流/营收 | 25.4% | — |
| 资本支出强度资本支出/营收 | 2.5% | — |
| 现金转化率经营现金流/净利润 | 6.28× | 6.62× |
| 过去12个月自由现金流最近4个季度 | $941.7M | — |
8季度趋势，按日历期对齐
经营现金流ONCQVCD
| Q4 25 | $417.3M | $245.0M | ||
| Q3 25 | $402.6M | $76.0M | ||
| Q2 25 | $263.6M | $52.0M | ||
| Q1 25 | $44.1M | $46.0M | ||
| Q4 24 | $75.2M | $189.0M | ||
| Q3 24 | $188.4M | $98.0M | ||
| Q2 24 | $-95.6M | $164.0M | ||
| Q1 24 | $-308.6M | $84.0M |
自由现金流ONCQVCD
| Q4 25 | $379.8M | — | ||
| Q3 25 | $354.5M | — | ||
| Q2 25 | $219.8M | — | ||
| Q1 25 | $-12.3M | — | ||
| Q4 24 | $-17.3M | — | ||
| Q3 24 | $54.7M | — | ||
| Q2 24 | $-205.5M | — | ||
| Q1 24 | $-465.1M | — |
自由现金流率ONCQVCD
| Q4 25 | 25.4% | — | ||
| Q3 25 | 25.1% | — | ||
| Q2 25 | 16.7% | — | ||
| Q1 25 | -1.1% | — | ||
| Q4 24 | -1.5% | — | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | -22.1% | — | ||
| Q1 24 | -61.9% | — |
资本支出强度ONCQVCD
| Q4 25 | 2.5% | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | 8.2% | — | ||
| Q3 24 | 13.3% | — | ||
| Q2 24 | 11.8% | — | ||
| Q1 24 | 20.8% | — |
现金转化率ONCQVCD
| Q4 25 | 6.28× | 6.62× | ||
| Q3 25 | 3.22× | 38.00× | ||
| Q2 25 | 2.79× | — | ||
| Q1 25 | 34.71× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.92× | ||
| Q2 24 | — | 3.09× | ||
| Q1 24 | — | 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
ONC
暂无分部数据
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% |
