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QVC INC（QVCD）与RUSH ENTERPRISES INC \TX\（RUSHA）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RUSH ENTERPRISES INC \TX\的1.4倍（$2.4B vs $1.7B），RUSH ENTERPRISES INC \TX\净利率更高（3.7% vs 1.5%，领先2.1%），QVC INC同比增速更快（-8.9% vs -9.0%），过去两年QVC INC的营收复合增速更高（7.1% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
QVCD vs RUSHA — 直观对比
营收规模更大
QVCD
是对方的1.4倍
$1.7B
营收增速更快
QVCD
高出0.1%
-9.0%
净利率更高
RUSHA
高出2.1%
1.5%
两年增速更快
QVCD
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $1.7B |
| 净利润 | $37.0M | $61.7M |
| 毛利率 | 32.5% | 20.4% |
| 营业利润率 | 5.6% | 4.9% |
| 净利率 | 1.5% | 3.7% |
| 营收同比 | -8.9% | -9.0% |
| 净利润同比 | 103.0% | 1.8% |
| 每股收益（稀释后） | — | $0.77 |
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QVCDRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $2.4B | $1.7B | ||
| Q3 25 | $2.0B | $1.8B | ||
| Q2 25 | $2.0B | $1.8B | ||
| Q1 25 | $1.9B | $1.8B | ||
| Q4 24 | $2.7B | $1.9B | ||
| Q3 24 | $2.1B | $1.8B | ||
| Q2 24 | $2.1B | $1.9B |
净利润QVCDRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $37.0M | $64.3M | ||
| Q3 25 | $2.0M | $66.7M | ||
| Q2 25 | $-2.2B | $72.4M | ||
| Q1 25 | $-42.0M | $60.3M | ||
| Q4 24 | $-1.2B | $74.8M | ||
| Q3 24 | $51.0M | $79.1M | ||
| Q2 24 | $53.0M | $78.7M |
毛利率QVCDRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | 32.5% | 20.8% | ||
| Q3 25 | 33.6% | 21.0% | ||
| Q2 25 | 35.4% | 20.7% | ||
| Q1 25 | 33.3% | 20.3% | ||
| Q4 24 | 32.6% | 19.3% | ||
| Q3 24 | 34.7% | 21.0% | ||
| Q2 24 | 35.6% | 20.2% |
营业利润率QVCDRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 5.6% | 5.5% | ||
| Q3 25 | 4.6% | 5.6% | ||
| Q2 25 | -114.5% | 6.0% | ||
| Q1 25 | 1.5% | 5.2% | ||
| Q4 24 | -47.1% | 5.8% | ||
| Q3 24 | 7.8% | 6.7% | ||
| Q2 24 | 7.6% | 6.4% |
净利率QVCDRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 1.5% | 3.8% | ||
| Q3 25 | 0.1% | 3.7% | ||
| Q2 25 | -109.1% | 3.9% | ||
| Q1 25 | -2.2% | 3.4% | ||
| Q4 24 | -46.0% | 3.9% | ||
| Q3 24 | 2.4% | 4.4% | ||
| Q2 24 | 2.5% | 4.1% |
每股收益（稀释后）QVCDRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | — | $0.81 | ||
| Q3 25 | — | $0.83 | ||
| Q2 25 | — | $0.90 | ||
| Q1 25 | — | $0.73 | ||
| Q4 24 | — | $-95.13 | ||
| Q3 24 | — | $0.97 | ||
| Q2 24 | — | $97.00 |
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 | — |
| 总债务越低越好 | $1.0M | $277.8M |
| 股东权益账面价值 | $1.2B | $2.3B |
| 总资产 | $8.5B | $4.5B |
| 负债/权益比越低杠杆越低 | 0.00× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资QVCDRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $212.6M | ||
| Q3 25 | — | $242.0M | ||
| Q2 25 | — | $211.1M | ||
| Q1 25 | — | $228.7M | ||
| Q4 24 | $297.0M | $228.1M | ||
| Q3 24 | $297.0M | $185.1M | ||
| Q2 24 | $315.0M | $167.3M |
总债务QVCDRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $1.0M | $274.8M | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $4.0B | — | ||
| Q4 24 | $3.3B | $408.4M | ||
| Q3 24 | $3.4B | — | ||
| Q2 24 | $3.7B | — |
股东权益QVCDRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $1.2B | $2.2B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $1.2B | $2.2B | ||
| Q1 25 | $3.3B | $2.2B | ||
| Q4 24 | $3.3B | $2.1B | ||
| Q3 24 | $4.6B | $2.1B | ||
| Q2 24 | $4.3B | $2.0B |
总资产QVCDRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $8.5B | $4.4B | ||
| Q3 25 | $8.3B | $4.6B | ||
| Q2 25 | $7.4B | $4.7B | ||
| Q1 25 | $9.7B | $4.7B | ||
| Q4 24 | $9.9B | $4.6B | ||
| Q3 24 | $9.9B | $4.6B | ||
| Q2 24 | $11.2B | $4.5B |
负债/权益比QVCDRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | 0.00× | 0.12× | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 3.42× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | 1.01× | 0.19× | ||
| Q3 24 | 0.73× | — | ||
| Q2 24 | 0.87× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | — | $411.6M |
| 自由现金流率自由现金流/营收 | — | 24.4% |
| 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 | 6.62× | — |
| 过去12个月自由现金流最近4个季度 | — | $828.4M |
8季度趋势，按日历期对齐
经营现金流QVCDRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $245.0M | $112.9M | ||
| Q3 25 | $76.0M | $367.8M | ||
| Q2 25 | $52.0M | $227.6M | ||
| Q1 25 | $46.0M | $153.5M | ||
| Q4 24 | $189.0M | $392.3M | ||
| Q3 24 | $98.0M | $111.7M | ||
| Q2 24 | $164.0M | $270.6M |
自由现金流QVCDRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | — | $31.9M | ||
| Q3 25 | — | $271.2M | ||
| Q2 25 | — | $113.8M | ||
| Q1 25 | — | $45.1M | ||
| Q4 24 | — | $263.5M | ||
| Q3 24 | — | $-20.0M | ||
| Q2 24 | — | $177.2M |
自由现金流率QVCDRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 15.2% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | — | -1.1% | ||
| Q2 24 | — | 9.1% |
资本支出强度QVCDRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 5.4% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | — | 7.3% | ||
| Q2 24 | — | 4.8% |
现金转化率QVCDRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 6.62× | 1.75× | ||
| Q3 25 | 38.00× | 5.51× | ||
| Q2 25 | — | 3.14× | ||
| Q1 25 | — | 2.55× | ||
| Q4 24 | — | 5.25× | ||
| Q3 24 | 1.92× | 1.41× | ||
| Q2 24 | 3.09× | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
