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QVC Group, Inc.（QVCGA）与RXO, Inc.（RXO）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RXO, Inc.的1.8倍（$2.7B vs $1.5B），QVC Group, Inc.净利率更高（-1.4% vs -3.1%，领先1.7%），QVC Group, Inc.同比增速更快（-9.1% vs -11.9%），QVC Group, Inc.自由现金流更多（$191.0M vs $-9.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% vs 6.9%）
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。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
QVCGA vs RXO — 直观对比
营收规模更大
QVCGA
是对方的1.8倍
$1.5B
营收增速更快
QVCGA
高出2.8%
-11.9%
净利率更高
QVCGA
高出1.7%
-3.1%
自由现金流更多
QVCGA
多$200.0M
$-9.0M
两年增速更快
RXO
近两年复合增速
6.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $1.5B |
| 净利润 | $-37.0M | $-46.0M |
| 毛利率 | 32.9% | — |
| 营业利润率 | 3.7% | -2.9% |
| 净利率 | -1.4% | -3.1% |
| 营收同比 | -9.1% | -11.9% |
| 净利润同比 | 97.1% | -84.0% |
| 每股收益（稀释后） | $-17.37 | $-0.28 |
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QVCGARXO
| Q4 25 | $2.7B | $1.5B | ||
| Q3 25 | $2.2B | $1.4B | ||
| Q2 25 | $2.2B | $1.4B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.9B | $1.7B | ||
| Q3 24 | $2.3B | $1.0B | ||
| Q2 24 | $2.4B | $930.0M | ||
| Q1 24 | $2.3B | $913.0M |
净利润QVCGARXO
| Q4 25 | $-37.0M | $-46.0M | ||
| Q3 25 | $-80.0M | $-14.0M | ||
| Q2 25 | $-2.2B | $-9.0M | ||
| Q1 25 | $-100.0M | $-31.0M | ||
| Q4 24 | $-1.3B | $-25.0M | ||
| Q3 24 | $-23.0M | $-243.0M | ||
| Q2 24 | $20.0M | $-7.0M | ||
| Q1 24 | $-1.0M | $-15.0M |
毛利率QVCGARXO
| Q4 25 | 32.9% | — | ||
| Q3 25 | 34.0% | — | ||
| Q2 25 | 36.4% | — | ||
| Q1 25 | 34.2% | — | ||
| Q4 24 | 33.3% | — | ||
| Q3 24 | 35.3% | — | ||
| Q2 24 | 36.4% | — | ||
| Q1 24 | 35.5% | — |
营业利润率QVCGARXO
| Q4 25 | 3.7% | -2.9% | ||
| Q3 25 | 2.7% | -0.5% | ||
| Q2 25 | -101.6% | — | ||
| Q1 25 | 0.7% | -2.1% | ||
| Q4 24 | -43.2% | -1.4% | ||
| Q3 24 | 6.5% | -1.9% | ||
| Q2 24 | 6.9% | — | ||
| Q1 24 | 6.2% | -1.3% |
净利率QVCGARXO
| Q4 25 | -1.4% | -3.1% | ||
| Q3 25 | -3.6% | -1.0% | ||
| Q2 25 | -99.4% | -0.6% | ||
| Q1 25 | -4.8% | -2.2% | ||
| Q4 24 | -43.7% | -1.5% | ||
| Q3 24 | -1.0% | -23.4% | ||
| Q2 24 | 0.8% | -0.8% | ||
| Q1 24 | -0.0% | -1.6% |
每股收益（稀释后）QVCGARXO
| Q4 25 | $-17.37 | $-0.28 | ||
| Q3 25 | $-9.89 | $-0.08 | ||
| Q2 25 | $-275.46 | $-0.05 | ||
| Q1 25 | $-0.25 | $-0.18 | ||
| Q4 24 | — | $-0.17 | ||
| Q3 24 | $-0.06 | $-1.81 | ||
| Q2 24 | $2.57 | $-0.06 | ||
| 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 | $2.0B | $17.0M |
| 总债务越低越好 | $790.0M | $387.0M |
| 股东权益账面价值 | $-3.1B | $1.5B |
| 总资产 | $7.6B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资QVCGARXO
| Q4 25 | $2.0B | $17.0M | ||
| Q3 25 | $1.8B | $25.0M | ||
| Q2 25 | $897.0M | $18.0M | ||
| Q1 25 | $833.0M | $16.0M | ||
| Q4 24 | $905.0M | $35.0M | ||
| Q3 24 | $873.0M | $55.0M | ||
| Q2 24 | $1.2B | $7.0M | ||
| Q1 24 | $1.1B | $7.0M |
总债务QVCGARXO
| Q4 25 | $790.0M | $387.0M | ||
| Q3 25 | $5.9B | $387.0M | ||
| Q2 25 | $4.9B | $387.0M | ||
| Q1 25 | $5.0B | $387.0M | ||
| Q4 24 | $4.1B | $351.0M | ||
| Q3 24 | $5.1B | $352.0M | ||
| Q2 24 | $5.3B | $370.0M | ||
| Q1 24 | $5.5B | $351.0M |
股东权益QVCGARXO
| Q4 25 | $-3.1B | $1.5B | ||
| Q3 25 | $-3.1B | $1.6B | ||
| Q2 25 | $-3.0B | $1.6B | ||
| Q1 25 | $-981.0M | $1.6B | ||
| Q4 24 | $-971.0M | $1.6B | ||
| Q3 24 | $397.0M | $1.7B | ||
| Q2 24 | $328.0M | $579.0M | ||
| Q1 24 | $255.0M | $582.0M |
总资产QVCGARXO
| Q4 25 | $7.6B | $3.3B | ||
| Q3 25 | $7.6B | $3.2B | ||
| Q2 25 | $6.7B | $3.2B | ||
| Q1 25 | $9.0B | $3.3B | ||
| Q4 24 | $9.2B | $3.4B | ||
| Q3 24 | $10.8B | $3.4B | ||
| Q2 24 | $10.9B | $1.8B | ||
| Q1 24 | $11.0B | $1.8B |
负债/权益比QVCGARXO
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | 12.74× | 0.21× | ||
| Q2 24 | 16.28× | 0.64× | ||
| Q1 24 | 21.53× | 0.60× |
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 | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $191.0M | $-9.0M |
| 自由现金流率自由现金流/营收 | 7.1% | -0.6% |
| 资本支出强度资本支出/营收 | 2.0% | 1.1% |
| 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 | $118.0M | $-8.0M |
8季度趋势，按日历期对齐
经营现金流QVCGARXO
| Q4 25 | $244.0M | $7.0M | ||
| Q3 25 | $4.0M | $23.0M | ||
| Q2 25 | $86.0M | $23.0M | ||
| Q1 25 | $-60.0M | $-2.0M | ||
| Q4 24 | $212.0M | $-7.0M | ||
| Q3 24 | $20.0M | $-7.0M | ||
| Q2 24 | $267.0M | $-5.0M | ||
| Q1 24 | $26.0M | $7.0M |
自由现金流QVCGARXO
| Q4 25 | $191.0M | $-9.0M | ||
| Q3 25 | $-27.0M | $9.0M | ||
| Q2 25 | $48.0M | $9.0M | ||
| Q1 25 | $-94.0M | $-17.0M | ||
| Q4 24 | $150.0M | $-19.0M | ||
| Q3 24 | $-23.0M | $-18.0M | ||
| Q2 24 | $213.0M | $-16.0M | ||
| Q1 24 | $-14.0M | $-4.0M |
自由现金流率QVCGARXO
| Q4 25 | 7.1% | -0.6% | ||
| Q3 25 | -1.2% | 0.6% | ||
| Q2 25 | 2.1% | 0.6% | ||
| Q1 25 | -4.5% | -1.2% | ||
| Q4 24 | 5.1% | -1.1% | ||
| Q3 24 | -1.0% | -1.7% | ||
| Q2 24 | 8.8% | -1.7% | ||
| Q1 24 | -0.6% | -0.4% |
资本支出强度QVCGARXO
| Q4 25 | 2.0% | 1.1% | ||
| Q3 25 | 1.4% | 1.0% | ||
| Q2 25 | 1.7% | 1.0% | ||
| Q1 25 | 1.6% | 1.0% | ||
| Q4 24 | 2.1% | 0.7% | ||
| Q3 24 | 1.8% | 1.1% | ||
| Q2 24 | 2.2% | 1.2% | ||
| Q1 24 | 1.7% | 1.2% |
现金转化率QVCGARXO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 13.35× | — | ||
| Q1 24 | — | — |
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
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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
