vs
QVC INC（QVCD）与史丹利百得（SWK）财务数据对比。点击上方公司名可切换其他公司
史丹利百得的季度营收约是QVC INC的1.6倍（$3.8B vs $2.4B），QVC INC净利率更高（1.5% vs 1.4%，领先0.2%），史丹利百得同比增速更快（0.1% vs -8.9%），过去两年QVC INC的营收复合增速更高（7.1% vs 0.3%）
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。
史丹利百得是美国知名的工业工具、家用五金产品制造商，同时提供安防类产品，前身为史丹利工具有限公司，由史丹利与百得于2010年3月12日合并而来，总部位于康涅狄格州大哈特福德地区的新不列颠市。
QVCD vs SWK — 直观对比
营收规模更大
SWK
是对方的1.6倍
$2.4B
营收增速更快
SWK
高出9.1%
-8.9%
净利率更高
QVCD
高出0.2%
1.4%
两年增速更快
QVCD
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $3.8B |
| 净利润 | $37.0M | $51.4M |
| 毛利率 | 32.5% | 31.4% |
| 营业利润率 | 5.6% | — |
| 净利率 | 1.5% | 1.4% |
| 营收同比 | -8.9% | 0.1% |
| 净利润同比 | 103.0% | -43.6% |
| 每股收益（稀释后） | — | $0.34 |
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QVCDSWK
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.0B | $3.8B | ||
| Q2 25 | $2.0B | $3.9B | ||
| Q1 25 | $1.9B | $3.7B | ||
| Q4 24 | $2.7B | $3.7B | ||
| Q3 24 | $2.1B | $3.8B | ||
| Q2 24 | $2.1B | $4.0B | ||
| Q1 24 | $2.1B | $3.9B |
净利润QVCDSWK
| Q4 25 | $37.0M | — | ||
| Q3 25 | $2.0M | $51.4M | ||
| Q2 25 | $-2.2B | $101.9M | ||
| Q1 25 | $-42.0M | $90.4M | ||
| Q4 24 | $-1.2B | $194.9M | ||
| Q3 24 | $51.0M | $91.1M | ||
| Q2 24 | $53.0M | $-11.2M | ||
| Q1 24 | $51.0M | $19.5M |
毛利率QVCDSWK
| Q4 25 | 32.5% | — | ||
| Q3 25 | 33.6% | 31.4% | ||
| Q2 25 | 35.4% | 27.0% | ||
| Q1 25 | 33.3% | 29.9% | ||
| Q4 24 | 32.6% | 30.8% | ||
| Q3 24 | 34.7% | 29.9% | ||
| Q2 24 | 35.6% | 28.4% | ||
| Q1 24 | 35.0% | 28.6% |
营业利润率QVCDSWK
| Q4 25 | 5.6% | — | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | -114.5% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | -47.1% | 3.4% | ||
| Q3 24 | 7.8% | 10.6% | ||
| Q2 24 | 7.6% | 9.5% | ||
| Q1 24 | 7.4% | 8.3% |
净利率QVCDSWK
| Q4 25 | 1.5% | — | ||
| Q3 25 | 0.1% | 1.4% | ||
| Q2 25 | -109.1% | 2.6% | ||
| Q1 25 | -2.2% | 2.4% | ||
| Q4 24 | -46.0% | 5.2% | ||
| Q3 24 | 2.4% | 2.4% | ||
| Q2 24 | 2.5% | -0.3% | ||
| Q1 24 | 2.4% | 0.5% |
每股收益（稀释后）QVCDSWK
| Q4 25 | — | — | ||
| Q3 25 | — | $0.34 | ||
| Q2 25 | — | $0.67 | ||
| Q1 25 | — | $0.60 | ||
| Q4 24 | — | $1.29 | ||
| Q3 24 | — | $0.60 | ||
| Q2 24 | — | $-0.07 | ||
| Q1 24 | — | $0.13 |
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 | $268.3M |
| 总债务越低越好 | $1.0M | $5.3B |
| 股东权益账面价值 | $1.2B | $9.0B |
| 总资产 | $8.5B | $21.8B |
| 负债/权益比越低杠杆越低 | 0.00× | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资QVCDSWK
| Q4 25 | $1.5B | — | ||
| Q3 25 | — | $268.3M | ||
| Q2 25 | — | $311.8M | ||
| Q1 25 | — | $344.8M | ||
| Q4 24 | $297.0M | $290.5M | ||
| Q3 24 | $297.0M | $298.7M | ||
| Q2 24 | $315.0M | $318.5M | ||
| Q1 24 | $311.0M | $476.6M |
总债务QVCDSWK
| Q4 25 | $1.0M | — | ||
| Q3 25 | $5.0B | $5.3B | ||
| Q2 25 | $4.0B | $5.6B | ||
| Q1 25 | $4.0B | $5.6B | ||
| Q4 24 | $3.3B | $6.1B | ||
| Q3 24 | $3.4B | $6.1B | ||
| Q2 24 | $3.7B | $6.1B | ||
| Q1 24 | $3.8B | $6.1B |
股东权益QVCDSWK
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $9.0B | ||
| Q2 25 | $1.2B | $9.1B | ||
| Q1 25 | $3.3B | $8.8B | ||
| Q4 24 | $3.3B | $8.7B | ||
| Q3 24 | $4.6B | $8.9B | ||
| Q2 24 | $4.3B | $8.7B | ||
| Q1 24 | $4.2B | $8.9B |
总资产QVCDSWK
| Q4 25 | $8.5B | — | ||
| Q3 25 | $8.3B | $21.8B | ||
| Q2 25 | $7.4B | $22.5B | ||
| Q1 25 | $9.7B | $22.5B | ||
| Q4 24 | $9.9B | $21.8B | ||
| Q3 24 | $9.9B | $22.5B | ||
| Q2 24 | $11.2B | $22.5B | ||
| Q1 24 | $11.4B | $23.9B |
负债/权益比QVCDSWK
| Q4 25 | 0.00× | — | ||
| Q3 25 | 4.30× | 0.59× | ||
| Q2 25 | 3.42× | 0.62× | ||
| Q1 25 | 1.22× | 0.63× | ||
| Q4 24 | 1.01× | 0.70× | ||
| Q3 24 | 0.73× | 0.69× | ||
| Q2 24 | 0.87× | 0.70× | ||
| Q1 24 | 0.89× | 0.69× |
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 | $221.2M |
| 自由现金流经营现金流 - 资本支出 | — | $155.3M |
| 自由现金流率自由现金流/营收 | — | 4.1% |
| 资本支出强度资本支出/营收 | — | 1.8% |
| 现金转化率经营现金流/净利润 | 6.62× | 4.30× |
| 过去12个月自由现金流最近4个季度 | — | $369.6M |
8季度趋势，按日历期对齐
经营现金流QVCDSWK
| Q4 25 | $245.0M | — | ||
| Q3 25 | $76.0M | $221.2M | ||
| Q2 25 | $52.0M | $214.3M | ||
| Q1 25 | $46.0M | $-420.0M | ||
| Q4 24 | $189.0M | $679.1M | ||
| Q3 24 | $98.0M | $285.8M | ||
| Q2 24 | $164.0M | $573.0M | ||
| Q1 24 | $84.0M | $-431.0M |
自由现金流QVCDSWK
| Q4 25 | — | — | ||
| Q3 25 | — | $155.3M | ||
| Q2 25 | — | $134.7M | ||
| Q1 25 | — | $-485.0M | ||
| Q4 24 | — | $564.6M | ||
| Q3 24 | — | $199.3M | ||
| Q2 24 | — | $485.8M | ||
| Q1 24 | — | $-496.7M |
自由现金流率QVCDSWK
| Q4 25 | — | — | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | -13.0% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | — | 12.1% | ||
| Q1 24 | — | -12.8% |
资本支出强度QVCDSWK
| Q4 25 | — | — | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | 1.7% |
现金转化率QVCDSWK
| Q4 25 | 6.62× | — | ||
| Q3 25 | 38.00× | 4.30× | ||
| Q2 25 | — | 2.10× | ||
| Q1 25 | — | -4.65× | ||
| Q4 24 | — | 3.48× | ||
| Q3 24 | 1.92× | 3.14× | ||
| Q2 24 | 3.09× | — | ||
| Q1 24 | 1.65× | -22.10× |
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% |
SWK
| Tools And Outdoor Segment | $3.3B | 87% |
| Engineered Fastening Segment | $500.5M | 13% |
