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QVC INC（QVCD）与罗布乐思（RBLX）财务数据对比。点击上方公司名可切换其他公司
QVC INC的季度营收约是罗布乐思的1.7倍（$2.4B vs $1.4B），QVC INC净利率更高（1.5% vs -22.3%，领先23.9%），罗布乐思同比增速更快（43.2% vs -8.9%），过去两年罗布乐思的营收复合增速更高（32.9% vs 7.1%）
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。
罗布乐思（Roblox Corporation）是总部位于美国加利福尼亚州圣马特奥的游戏企业，由大卫·巴斯祖奇与埃里克·卡塞尔于2004年共同创立。公司核心产品为同名线上游戏创作平台Roblox，于2006年正式上线，截至2024年12月底全球员工规模已超2400人。
QVCD vs RBLX — 直观对比
营收规模更大
QVCD
是对方的1.7倍
$1.4B
营收增速更快
RBLX
高出52.1%
-8.9%
净利率更高
QVCD
高出23.9%
-22.3%
两年增速更快
RBLX
近两年复合增速
7.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $1.4B |
| 净利润 | $37.0M | $-316.0M |
| 毛利率 | 32.5% | 77.7% |
| 营业利润率 | 5.6% | -25.3% |
| 净利率 | 1.5% | -22.3% |
| 营收同比 | -8.9% | 43.2% |
| 净利润同比 | 103.0% | -43.9% |
| 每股收益（稀释后） | — | $-0.44 |
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QVCDRBLX
| Q4 25 | $2.4B | $1.4B | ||
| Q3 25 | $2.0B | $1.4B | ||
| Q2 25 | $2.0B | $1.1B | ||
| Q1 25 | $1.9B | $1.0B | ||
| Q4 24 | $2.7B | $988.2M | ||
| Q3 24 | $2.1B | $919.0M | ||
| Q2 24 | $2.1B | $893.5M | ||
| Q1 24 | $2.1B | $801.3M |
净利润QVCDRBLX
| Q4 25 | $37.0M | $-316.0M | ||
| Q3 25 | $2.0M | $-255.6M | ||
| Q2 25 | $-2.2B | $-278.4M | ||
| Q1 25 | $-42.0M | $-215.1M | ||
| Q4 24 | $-1.2B | $-219.6M | ||
| Q3 24 | $51.0M | $-239.3M | ||
| Q2 24 | $53.0M | $-205.9M | ||
| Q1 24 | $51.0M | $-270.6M |
毛利率QVCDRBLX
| Q4 25 | 32.5% | 77.7% | ||
| Q3 25 | 33.6% | 78.2% | ||
| Q2 25 | 35.4% | 78.2% | ||
| Q1 25 | 33.3% | 78.3% | ||
| Q4 24 | 32.6% | 77.9% | ||
| Q3 24 | 34.7% | 77.7% | ||
| Q2 24 | 35.6% | 77.8% | ||
| Q1 24 | 35.0% | 77.7% |
营业利润率QVCDRBLX
| Q4 25 | 5.6% | -25.3% | ||
| Q3 25 | 4.6% | -21.8% | ||
| Q2 25 | -114.5% | -29.8% | ||
| Q1 25 | 1.5% | -24.6% | ||
| Q4 24 | -47.1% | -24.7% | ||
| Q3 24 | 7.8% | -30.4% | ||
| Q2 24 | 7.6% | -26.6% | ||
| Q1 24 | 7.4% | -37.7% |
净利率QVCDRBLX
| Q4 25 | 1.5% | -22.3% | ||
| Q3 25 | 0.1% | -18.8% | ||
| Q2 25 | -109.1% | -25.8% | ||
| Q1 25 | -2.2% | -20.8% | ||
| Q4 24 | -46.0% | -22.2% | ||
| Q3 24 | 2.4% | -26.0% | ||
| Q2 24 | 2.5% | -23.0% | ||
| Q1 24 | 2.4% | -33.8% |
每股收益（稀释后）QVCDRBLX
| Q4 25 | — | $-0.44 | ||
| Q3 25 | — | $-0.37 | ||
| Q2 25 | — | $-0.41 | ||
| Q1 25 | — | $-0.32 | ||
| Q4 24 | — | $-0.32 | ||
| Q3 24 | — | $-0.37 | ||
| Q2 24 | — | $-0.32 | ||
| Q1 24 | — | $-0.43 |
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 | $1.5B | $3.1B |
| 总债务越低越好 | $1.0M | $1.2B |
| 股东权益账面价值 | $1.2B | $394.5M |
| 总资产 | $8.5B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.00× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资QVCDRBLX
| Q4 25 | $1.5B | $3.1B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | $297.0M | $2.4B | ||
| Q3 24 | $297.0M | $2.3B | ||
| Q2 24 | $315.0M | $2.4B | ||
| Q1 24 | $311.0M | $2.4B |
总债务QVCDRBLX
| Q4 25 | $1.0M | $1.2B | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $4.0B | — | ||
| Q4 24 | $3.3B | $1.2B | ||
| Q3 24 | $3.4B | — | ||
| Q2 24 | $3.7B | — | ||
| Q1 24 | $3.8B | — |
股东权益QVCDRBLX
| Q4 25 | $1.2B | $394.5M | ||
| Q3 25 | $1.2B | $407.6M | ||
| Q2 25 | $1.2B | $353.2M | ||
| Q1 25 | $3.3B | $310.7M | ||
| Q4 24 | $3.3B | $221.4M | ||
| Q3 24 | $4.6B | $189.9M | ||
| Q2 24 | $4.3B | $121.5M | ||
| Q1 24 | $4.2B | $71.6M |
总资产QVCDRBLX
| Q4 25 | $8.5B | $9.6B | ||
| Q3 25 | $8.3B | $8.6B | ||
| Q2 25 | $7.4B | $7.8B | ||
| Q1 25 | $9.7B | $7.5B | ||
| Q4 24 | $9.9B | $7.2B | ||
| Q3 24 | $9.9B | $6.7B | ||
| Q2 24 | $11.2B | $6.5B | ||
| Q1 24 | $11.4B | $6.3B |
负债/权益比QVCDRBLX
| Q4 25 | 0.00× | 2.98× | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 3.42× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | 1.01× | 5.48× | ||
| 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 | $245.0M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | — | $308.6M |
| 自由现金流率自由现金流/营收 | — | 21.8% |
| 资本支出强度资本支出/营收 | — | 21.1% |
| 现金转化率经营现金流/净利润 | 6.62× | — |
| 过去12个月自由现金流最近4个季度 | — | $1.4B |
8季度趋势，按日历期对齐
经营现金流QVCDRBLX
| Q4 25 | $245.0M | $607.0M | ||
| Q3 25 | $76.0M | $546.2M | ||
| Q2 25 | $52.0M | $199.3M | ||
| Q1 25 | $46.0M | $443.9M | ||
| Q4 24 | $189.0M | $184.5M | ||
| Q3 24 | $98.0M | $247.4M | ||
| Q2 24 | $164.0M | $151.4M | ||
| Q1 24 | $84.0M | $238.9M |
自由现金流QVCDRBLX
| Q4 25 | — | $308.6M | ||
| Q3 25 | — | $443.6M | ||
| Q2 25 | — | $176.7M | ||
| Q1 25 | — | $426.5M | ||
| Q4 24 | — | $120.6M | ||
| Q3 24 | — | $218.0M | ||
| Q2 24 | — | $111.7M | ||
| Q1 24 | — | $192.3M |
自由现金流率QVCDRBLX
| Q4 25 | — | 21.8% | ||
| Q3 25 | — | 32.6% | ||
| Q2 25 | — | 16.3% | ||
| Q1 25 | — | 41.2% | ||
| Q4 24 | — | 12.2% | ||
| Q3 24 | — | 23.7% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | 24.0% |
资本支出强度QVCDRBLX
| Q4 25 | — | 21.1% | ||
| Q3 25 | — | 7.5% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 4.4% | ||
| Q1 24 | — | 5.8% |
现金转化率QVCDRBLX
| Q4 25 | 6.62× | — | ||
| Q3 25 | 38.00× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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
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% |
RBLX
暂无分部数据
