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QVC Group, Inc.（QVCGA）与Unum Group（UNM）财务数据对比。点击上方公司名可切换其他公司
Unum Group的季度营收约是QVC Group, Inc.的1.3倍（$3.4B vs $2.7B），Unum Group净利率更高（6.9% vs -1.4%，领先8.3%），Unum Group同比增速更快（8.5% vs -9.1%），过去两年QVC Group, Inc.的营收复合增速更高（6.9% vs 1.9%）
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。
Unum Group是美国财富500强保险企业，总部位于田纳西州查塔努加，前身为1848年成立的联合相互保险公司，1999年合并后曾用名UnumProvident至2007年。集团现设四大业务板块，覆盖美、英、波兰市场，旗下承保主体包括保罗里维尔人寿保险、普罗维登斯人伤意外险公司等。
QVCGA vs UNM — 直观对比
营收规模更大
UNM
是对方的1.3倍
$2.7B
营收增速更快
UNM
高出17.6%
-9.1%
净利率更高
UNM
高出8.3%
-1.4%
两年增速更快
QVCGA
近两年复合增速
1.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $3.4B |
| 净利润 | $-37.0M | $232.0M |
| 毛利率 | 32.9% | — |
| 营业利润率 | 3.7% | — |
| 净利率 | -1.4% | 6.9% |
| 营收同比 | -9.1% | 8.5% |
| 净利润同比 | 97.1% | 22.7% |
| 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QVCGAUNM
| Q1 26 | — | $3.4B | ||
| Q4 25 | $2.7B | $3.2B | ||
| Q3 25 | $2.2B | $3.4B | ||
| Q2 25 | $2.2B | $3.4B | ||
| Q1 25 | $2.1B | $3.1B | ||
| Q4 24 | $2.9B | $3.2B | ||
| Q3 24 | $2.3B | $3.2B | ||
| Q2 24 | $2.4B | $3.2B |
净利润QVCGAUNM
| Q1 26 | — | $232.0M | ||
| Q4 25 | $-37.0M | $174.1M | ||
| Q3 25 | $-80.0M | $39.7M | ||
| Q2 25 | $-2.2B | $335.6M | ||
| Q1 25 | $-100.0M | $189.1M | ||
| Q4 24 | $-1.3B | $348.7M | ||
| Q3 24 | $-23.0M | $645.7M | ||
| Q2 24 | $20.0M | $389.5M |
毛利率QVCGAUNM
| Q1 26 | — | — | ||
| 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% | — |
营业利润率QVCGAUNM
| Q1 26 | — | — | ||
| Q4 25 | 3.7% | 6.7% | ||
| Q3 25 | 2.7% | 1.6% | ||
| Q2 25 | -101.6% | 12.4% | ||
| Q1 25 | 0.7% | 7.9% | ||
| Q4 24 | -43.2% | 13.8% | ||
| Q3 24 | 6.5% | 15.6% | ||
| Q2 24 | 6.9% | 15.3% |
净利率QVCGAUNM
| Q1 26 | — | 6.9% | ||
| Q4 25 | -1.4% | 5.4% | ||
| Q3 25 | -3.6% | 1.2% | ||
| Q2 25 | -99.4% | 10.0% | ||
| Q1 25 | -4.8% | 6.1% | ||
| Q4 24 | -43.7% | 10.8% | ||
| Q3 24 | -1.0% | 20.1% | ||
| Q2 24 | 0.8% | 12.0% |
每股收益（稀释后）QVCGAUNM
| Q1 26 | — | — | ||
| Q4 25 | $-17.37 | $1.06 | ||
| Q3 25 | $-9.89 | $0.23 | ||
| Q2 25 | $-275.46 | $1.92 | ||
| Q1 25 | $-0.25 | $1.06 | ||
| Q4 24 | — | $1.91 | ||
| Q3 24 | $-0.06 | $3.46 | ||
| Q2 24 | $2.57 | $2.05 |
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 | $2.1M |
| 总债务越低越好 | $790.0M | $3.8M |
| 股东权益账面价值 | $-3.1B | $10.9M |
| 总资产 | $7.6B | $62.7M |
| 负债/权益比越低杠杆越低 | — | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资QVCGAUNM
| Q1 26 | — | $2.1M | ||
| 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QVCGAUNM
| Q1 26 | — | $3.8M | ||
| Q4 25 | $790.0M | $3.8B | ||
| Q3 25 | $5.9B | $3.5B | ||
| Q2 25 | $4.9B | $3.5B | ||
| Q1 25 | $5.0B | $3.5B | ||
| Q4 24 | $4.1B | $3.5B | ||
| Q3 24 | $5.1B | $3.5B | ||
| Q2 24 | $5.3B | $3.5B |
股东权益QVCGAUNM
| Q1 26 | — | $10.9M | ||
| Q4 25 | $-3.1B | $11.1B | ||
| Q3 25 | $-3.1B | $10.9B | ||
| Q2 25 | $-3.0B | $11.3B | ||
| Q1 25 | $-981.0M | $11.2B | ||
| Q4 24 | $-971.0M | $11.0B | ||
| Q3 24 | $397.0M | $11.0B | ||
| Q2 24 | $328.0M | $10.5B |
总资产QVCGAUNM
| Q1 26 | — | $62.7M | ||
| Q4 25 | $7.6B | $63.5B | ||
| Q3 25 | $7.6B | $63.7B | ||
| Q2 25 | $6.7B | $62.8B | ||
| Q1 25 | $9.0B | $62.5B | ||
| Q4 24 | $9.2B | $62.0B | ||
| Q3 24 | $10.8B | $64.1B | ||
| Q2 24 | $10.9B | $62.0B |
负债/权益比QVCGAUNM
| Q1 26 | — | 0.35× | ||
| Q4 25 | — | 0.34× | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | 12.74× | 0.32× | ||
| Q2 24 | 16.28× | 0.33× |
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% | — |
| 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QVCGAUNM
| Q1 26 | — | — | ||
| Q4 25 | $244.0M | $357.9M | ||
| Q3 25 | $4.0M | $-371.8M | ||
| Q2 25 | $86.0M | $348.0M | ||
| Q1 25 | $-60.0M | $353.6M | ||
| Q4 24 | $212.0M | $485.8M | ||
| Q3 24 | $20.0M | $390.0M | ||
| Q2 24 | $267.0M | $339.1M |
自由现金流QVCGAUNM
| Q1 26 | — | — | ||
| Q4 25 | $191.0M | $320.1M | ||
| Q3 25 | $-27.0M | $-402.6M | ||
| Q2 25 | $48.0M | $320.1M | ||
| Q1 25 | $-94.0M | $317.8M | ||
| Q4 24 | $150.0M | $453.8M | ||
| Q3 24 | $-23.0M | $352.3M | ||
| Q2 24 | $213.0M | $311.4M |
自由现金流率QVCGAUNM
| Q1 26 | — | — | ||
| Q4 25 | 7.1% | 9.9% | ||
| Q3 25 | -1.2% | -11.9% | ||
| Q2 25 | 2.1% | 9.5% | ||
| Q1 25 | -4.5% | 10.3% | ||
| Q4 24 | 5.1% | 14.0% | ||
| Q3 24 | -1.0% | 11.0% | ||
| Q2 24 | 8.8% | 9.6% |
资本支出强度QVCGAUNM
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 1.2% | ||
| Q3 25 | 1.4% | 0.9% | ||
| Q2 25 | 1.7% | 0.8% | ||
| Q1 25 | 1.6% | 1.2% | ||
| Q4 24 | 2.1% | 1.0% | ||
| Q3 24 | 1.8% | 1.2% | ||
| Q2 24 | 2.2% | 0.9% |
现金转化率QVCGAUNM
| Q1 26 | — | — | ||
| Q4 25 | — | 2.06× | ||
| Q3 25 | — | -9.37× | ||
| Q2 25 | — | 1.04× | ||
| Q1 25 | — | 1.87× | ||
| Q4 24 | — | 1.39× | ||
| Q3 24 | — | 0.60× | ||
| Q2 24 | 13.35× | 0.87× |
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% |
UNM
| Premium Income | $2.8B | 83% |
| Other | $561.2M | 17% |
