vs
北极星（PII）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.的季度营收约是北极星的1.6倍（$2.7B vs $1.7B），QVC Group, Inc.净利率更高（-1.4% vs -2.8%，领先1.5%），北极星同比增速更快（8.0% vs -9.1%），QVC Group, Inc.自由现金流更多（$191.0M vs $-342.5M），过去两年QVC Group, Inc.的营收复合增速更高（6.9% vs -8.0%）
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
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。
PII vs QVCGA — 直观对比
营收规模更大
QVCGA
是对方的1.6倍
$1.7B
营收增速更快
PII
高出17.1%
-9.1%
净利率更高
QVCGA
高出1.5%
-2.8%
自由现金流更多
QVCGA
多$533.5M
$-342.5M
两年增速更快
QVCGA
近两年复合增速
-8.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $2.7B |
| 净利润 | $-47.2M | $-37.0M |
| 毛利率 | 20.2% | 32.9% |
| 营业利润率 | 76.5% | 3.7% |
| 净利率 | -2.8% | -1.4% |
| 营收同比 | 8.0% | -9.1% |
| 净利润同比 | 29.0% | 97.1% |
| 每股收益（稀释后） | $-0.83 | $-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PIIQVCGA
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.9B | $2.7B | ||
| Q3 25 | $1.8B | $2.2B | ||
| Q2 25 | $1.9B | $2.2B | ||
| Q1 25 | $1.5B | $2.1B | ||
| Q4 24 | $1.8B | $2.9B | ||
| Q3 24 | $1.7B | $2.3B | ||
| Q2 24 | $2.0B | $2.4B |
净利润PIIQVCGA
| Q1 26 | $-47.2M | — | ||
| Q4 25 | $-303.6M | $-37.0M | ||
| Q3 25 | $-15.8M | $-80.0M | ||
| Q2 25 | $-79.3M | $-2.2B | ||
| Q1 25 | $-66.8M | $-100.0M | ||
| Q4 24 | $10.6M | $-1.3B | ||
| Q3 24 | $27.7M | $-23.0M | ||
| Q2 24 | $68.7M | $20.0M |
毛利率PIIQVCGA
| Q1 26 | 20.2% | — | ||
| Q4 25 | 20.0% | 32.9% | ||
| Q3 25 | 20.7% | 34.0% | ||
| Q2 25 | 19.4% | 36.4% | ||
| Q1 25 | 16.0% | 34.2% | ||
| Q4 24 | 20.4% | 33.3% | ||
| Q3 24 | 20.6% | 35.3% | ||
| Q2 24 | 21.6% | 36.4% |
营业利润率PIIQVCGA
| Q1 26 | 76.5% | — | ||
| Q4 25 | -16.7% | 3.7% | ||
| Q3 25 | 1.1% | 2.7% | ||
| Q2 25 | -0.7% | -101.6% | ||
| Q1 25 | -2.4% | 0.7% | ||
| Q4 24 | 3.7% | -43.2% | ||
| Q3 24 | 3.8% | 6.5% | ||
| Q2 24 | 6.1% | 6.9% |
净利率PIIQVCGA
| Q1 26 | -2.8% | — | ||
| Q4 25 | -15.8% | -1.4% | ||
| Q3 25 | -0.9% | -3.6% | ||
| Q2 25 | -4.3% | -99.4% | ||
| Q1 25 | -4.3% | -4.8% | ||
| Q4 24 | 0.6% | -43.7% | ||
| Q3 24 | 1.6% | -1.0% | ||
| Q2 24 | 3.5% | 0.8% |
每股收益（稀释后）PIIQVCGA
| Q1 26 | $-0.83 | — | ||
| Q4 25 | $-5.34 | $-17.37 | ||
| Q3 25 | $-0.28 | $-9.89 | ||
| Q2 25 | $-1.39 | $-275.46 | ||
| Q1 25 | $-1.17 | $-0.25 | ||
| Q4 24 | $0.18 | — | ||
| Q3 24 | $0.49 | $-0.06 | ||
| Q2 24 | $1.21 | $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 | $282.0M | $2.0B |
| 总债务越低越好 | — | $790.0M |
| 股东权益账面价值 | $750.4M | $-3.1B |
| 总资产 | $5.2B | $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PIIQVCGA
| Q1 26 | $282.0M | — | ||
| Q4 25 | $138.0M | $2.0B | ||
| Q3 25 | $335.5M | $1.8B | ||
| Q2 25 | $324.3M | $897.0M | ||
| Q1 25 | $291.7M | $833.0M | ||
| Q4 24 | $287.8M | $905.0M | ||
| Q3 24 | $291.3M | $873.0M | ||
| Q2 24 | $322.7M | $1.2B |
总债务PIIQVCGA
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $790.0M | ||
| Q3 25 | $1.3B | $5.9B | ||
| Q2 25 | $1.4B | $4.9B | ||
| Q1 25 | $1.6B | $5.0B | ||
| Q4 24 | $1.6B | $4.1B | ||
| Q3 24 | $1.7B | $5.1B | ||
| Q2 24 | $2.1B | $5.3B |
股东权益PIIQVCGA
| Q1 26 | $750.4M | — | ||
| Q4 25 | $828.4M | $-3.1B | ||
| Q3 25 | $1.1B | $-3.1B | ||
| Q2 25 | $1.2B | $-3.0B | ||
| Q1 25 | $1.2B | $-981.0M | ||
| Q4 24 | $1.3B | $-971.0M | ||
| Q3 24 | $1.3B | $397.0M | ||
| Q2 24 | $1.3B | $328.0M |
总资产PIIQVCGA
| Q1 26 | $5.2B | — | ||
| Q4 25 | $4.9B | $7.6B | ||
| Q3 25 | $5.3B | $7.6B | ||
| Q2 25 | $5.4B | $6.7B | ||
| Q1 25 | $5.5B | $9.0B | ||
| Q4 24 | $5.5B | $9.2B | ||
| Q3 24 | $5.6B | $10.8B | ||
| Q2 24 | $5.7B | $10.9B |
负债/权益比PIIQVCGA
| Q1 26 | — | — | ||
| Q4 25 | 1.82× | — | ||
| Q3 25 | 1.13× | — | ||
| Q2 25 | 1.17× | — | ||
| Q1 25 | 1.32× | — | ||
| Q4 24 | 1.27× | — | ||
| Q3 24 | 1.29× | 12.74× | ||
| Q2 24 | 1.56× | 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 | — | $244.0M |
| 自由现金流经营现金流 - 资本支出 | $-342.5M | $191.0M |
| 自由现金流率自由现金流/营收 | -20.6% | 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 | — | — |
| 过去12个月自由现金流最近4个季度 | $168.0M | $118.0M |
8季度趋势，按日历期对齐
经营现金流PIIQVCGA
| Q1 26 | — | — | ||
| Q4 25 | $178.7M | $244.0M | ||
| Q3 25 | $158.8M | $4.0M | ||
| Q2 25 | $320.3M | $86.0M | ||
| Q1 25 | $83.2M | $-60.0M | ||
| Q4 24 | $206.3M | $212.0M | ||
| Q3 24 | $21.0M | $20.0M | ||
| Q2 24 | $146.3M | $267.0M |
自由现金流PIIQVCGA
| Q1 26 | $-342.5M | — | ||
| Q4 25 | $114.0M | $191.0M | ||
| Q3 25 | $116.7M | $-27.0M | ||
| Q2 25 | $279.8M | $48.0M | ||
| Q1 25 | $47.6M | $-94.0M | ||
| Q4 24 | $137.3M | $150.0M | ||
| Q3 24 | $-32.4M | $-23.0M | ||
| Q2 24 | $79.1M | $213.0M |
自由现金流率PIIQVCGA
| Q1 26 | -20.6% | — | ||
| Q4 25 | 5.9% | 7.1% | ||
| Q3 25 | 6.3% | -1.2% | ||
| Q2 25 | 15.1% | 2.1% | ||
| Q1 25 | 3.1% | -4.5% | ||
| Q4 24 | 7.8% | 5.1% | ||
| Q3 24 | -1.9% | -1.0% | ||
| Q2 24 | 4.0% | 8.8% |
资本支出强度PIIQVCGA
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 2.0% | ||
| Q3 25 | 2.3% | 1.4% | ||
| Q2 25 | 2.2% | 1.7% | ||
| Q1 25 | 2.3% | 1.6% | ||
| Q4 24 | 3.9% | 2.1% | ||
| Q3 24 | 3.1% | 1.8% | ||
| Q2 24 | 3.4% | 2.2% |
现金转化率PIIQVCGA
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 19.46× | — | ||
| Q3 24 | 0.76× | — | ||
| Q2 24 | 2.13× | 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
PII
暂无分部数据
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% |
