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QVC Group, Inc.（QVCGA）与史密斯菲尔德食品（SFD）财务数据对比。点击上方公司名可切换其他公司
史密斯菲尔德食品的季度营收约是QVC Group, Inc.的1.4倍（$3.8B vs $2.7B），史密斯菲尔德食品净利率更高（6.6% vs -1.4%，领先7.9%），史密斯菲尔德食品同比增速更快（0.8% vs -9.1%），过去两年QVC Group, Inc.的营收复合增速更高（6.9% vs 6.8%）
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。
史密斯菲尔德食品是全球规模最大的生猪养殖与猪肉加工企业，1936年由卢特父子创立，总部位于美国弗吉尼亚州史密斯菲尔德，现隶属于香港企业。公司在美国自营超500个农场，还与2000余家独立农场合作养殖生猪，业务覆盖墨西哥、波兰、德国等多个海外市场。
QVCGA vs SFD — 直观对比
营收规模更大
SFD
是对方的1.4倍
$2.7B
营收增速更快
SFD
高出9.9%
-9.1%
净利率更高
SFD
高出7.9%
-1.4%
两年增速更快
QVCGA
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q1 FY2027
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $3.8B |
| 净利润 | $-37.0M | $249.0M |
| 毛利率 | 32.9% | 13.4% |
| 营业利润率 | 3.7% | 8.8% |
| 净利率 | -1.4% | 6.6% |
| 营收同比 | -9.1% | 0.8% |
| 净利润同比 | 97.1% | 9.8% |
| 每股收益（稀释后） | $-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QVCGASFD
| Q1 26 | — | $3.8B | ||
| Q4 25 | $2.7B | $4.2B | ||
| Q3 25 | $2.2B | $3.7B | ||
| Q2 25 | $2.2B | $3.8B | ||
| Q1 25 | $2.1B | $3.8B | ||
| Q4 24 | $2.9B | $4.0B | ||
| Q3 24 | $2.3B | $3.3B | ||
| Q2 24 | $2.4B | — |
净利润QVCGASFD
| Q1 26 | — | $249.0M | ||
| Q4 25 | $-37.0M | $327.0M | ||
| Q3 25 | $-80.0M | $248.0M | ||
| Q2 25 | $-2.2B | $188.0M | ||
| Q1 25 | $-100.0M | $224.0M | ||
| Q4 24 | $-1.3B | $205.0M | ||
| Q3 24 | $-23.0M | $291.0M | ||
| Q2 24 | $20.0M | — |
毛利率QVCGASFD
| Q1 26 | — | 13.4% | ||
| Q4 25 | 32.9% | 14.2% | ||
| Q3 25 | 34.0% | 12.8% | ||
| Q2 25 | 36.4% | 13.2% | ||
| Q1 25 | 34.2% | 13.5% | ||
| Q4 24 | 33.3% | 13.5% | ||
| Q3 24 | 35.3% | 14.3% | ||
| Q2 24 | 36.4% | — |
营业利润率QVCGASFD
| Q1 26 | — | 8.8% | ||
| Q4 25 | 3.7% | 9.5% | ||
| Q3 25 | 2.7% | 8.3% | ||
| Q2 25 | -101.6% | 6.9% | ||
| Q1 25 | 0.7% | 8.5% | ||
| Q4 24 | -43.2% | 8.5% | ||
| Q3 24 | 6.5% | 8.5% | ||
| Q2 24 | 6.9% | — |
净利率QVCGASFD
| Q1 26 | — | 6.6% | ||
| Q4 25 | -1.4% | 7.7% | ||
| Q3 25 | -3.6% | 6.6% | ||
| Q2 25 | -99.4% | 5.0% | ||
| Q1 25 | -4.8% | 5.9% | ||
| Q4 24 | -43.7% | 5.2% | ||
| Q3 24 | -1.0% | 8.7% | ||
| Q2 24 | 0.8% | — |
每股收益（稀释后）QVCGASFD
| Q1 26 | — | — | ||
| Q4 25 | $-17.37 | $0.83 | ||
| Q3 25 | $-9.89 | $0.63 | ||
| Q2 25 | $-275.46 | $0.48 | ||
| Q1 25 | $-0.25 | $0.57 | ||
| Q4 24 | — | $0.54 | ||
| Q3 24 | $-0.06 | $0.77 | ||
| Q2 24 | $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 | $2.0B | $1.4B |
| 总债务越低越好 | $790.0M | — |
| 股东权益账面价值 | $-3.1B | $6.9B |
| 总资产 | $7.6B | $12.0B |
| 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QVCGASFD
| Q1 26 | — | $1.4B | ||
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $897.0M | — | ||
| Q1 25 | $833.0M | — | ||
| Q4 24 | $905.0M | — | ||
| Q3 24 | $873.0M | — | ||
| Q2 24 | $1.2B | — |
总债务QVCGASFD
| Q1 26 | — | — | ||
| Q4 25 | $790.0M | $2.0B | ||
| Q3 25 | $5.9B | $2.0B | ||
| Q2 25 | $4.9B | $2.0B | ||
| Q1 25 | $5.0B | $2.0B | ||
| Q4 24 | $4.1B | $2.0B | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.3B | — |
股东权益QVCGASFD
| Q1 26 | — | $6.9B | ||
| Q4 25 | $-3.1B | $6.8B | ||
| Q3 25 | $-3.1B | $6.5B | ||
| Q2 25 | $-3.0B | $6.3B | ||
| Q1 25 | $-981.0M | $6.2B | ||
| Q4 24 | $-971.0M | $5.8B | ||
| Q3 24 | $397.0M | — | ||
| Q2 24 | $328.0M | — |
总资产QVCGASFD
| Q1 26 | — | $12.0B | ||
| Q4 25 | $7.6B | $12.2B | ||
| Q3 25 | $7.6B | $11.5B | ||
| Q2 25 | $6.7B | $11.2B | ||
| Q1 25 | $9.0B | $11.1B | ||
| Q4 24 | $9.2B | $11.1B | ||
| Q3 24 | $10.8B | — | ||
| Q2 24 | $10.9B | — |
负债/权益比QVCGASFD
| Q1 26 | — | — | ||
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.32× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | 12.74× | — | ||
| Q2 24 | 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 | $191.0M | — |
| 自由现金流率自由现金流/营收 | 7.1% | — |
| 资本支出强度资本支出/营收 | 2.0% | 2.3% |
| 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季度趋势，按日历期对齐
经营现金流QVCGASFD
| Q1 26 | — | — | ||
| Q4 25 | $244.0M | $938.0M | ||
| Q3 25 | $4.0M | $13.0M | ||
| Q2 25 | $86.0M | $274.0M | ||
| Q1 25 | $-60.0M | $-166.0M | ||
| Q4 24 | $212.0M | — | ||
| Q3 24 | $20.0M | — | ||
| Q2 24 | $267.0M | — |
自由现金流QVCGASFD
| Q1 26 | — | — | ||
| Q4 25 | $191.0M | $842.0M | ||
| Q3 25 | $-27.0M | $-75.0M | ||
| Q2 25 | $48.0M | $196.0M | ||
| Q1 25 | $-94.0M | $-245.0M | ||
| Q4 24 | $150.0M | — | ||
| Q3 24 | $-23.0M | — | ||
| Q2 24 | $213.0M | — |
自由现金流率QVCGASFD
| Q1 26 | — | — | ||
| Q4 25 | 7.1% | 19.9% | ||
| Q3 25 | -1.2% | -2.0% | ||
| Q2 25 | 2.1% | 5.2% | ||
| Q1 25 | -4.5% | -6.5% | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | -1.0% | — | ||
| Q2 24 | 8.8% | — |
资本支出强度QVCGASFD
| Q1 26 | — | 2.3% | ||
| Q4 25 | 2.0% | 2.3% | ||
| Q3 25 | 1.4% | 2.3% | ||
| Q2 25 | 1.7% | 2.1% | ||
| Q1 25 | 1.6% | 2.1% | ||
| Q4 24 | 2.1% | 2.1% | ||
| Q3 24 | 1.8% | 2.8% | ||
| Q2 24 | 2.2% | — |
现金转化率QVCGASFD
| Q1 26 | — | — | ||
| Q4 25 | — | 2.87× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 1.46× | ||
| Q1 25 | — | -0.74× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 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
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% |
SFD
| Packaged Meats | $2.1B | 57% |
| Other | $863.0M | 23% |
| Hog Production | $769.0M | 20% |
| inter-segment sales eliminations | $19.0M | 1% |
