vs
QVC Group, Inc.（QVCGA）与United Rentals（URI）财务数据对比。点击上方公司名可切换其他公司
United Rentals的季度营收约是QVC Group, Inc.的1.5倍（$4.0B vs $2.7B），United Rentals净利率更高（13.3% vs -1.4%，领先14.7%），United Rentals同比增速更快（7.2% vs -9.1%），United Rentals自由现金流更多（$1.1B vs $191.0M），过去两年United Rentals的营收复合增速更高（114.0% 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。
United Rentals是美国设备租赁企业，2022年占据北美市场约16%的份额。截至2025年，该公司拥有全球规模最大的租赁车队，覆盖约4800类设备，原始设备成本总计约205.9亿美元，在全球共设1625个营业网点，业务覆盖北美、欧洲、澳大利亚及新西兰。
QVCGA vs URI — 直观对比
营收规模更大
URI
是对方的1.5倍
$2.7B
营收增速更快
URI
高出16.3%
-9.1%
净利率更高
URI
高出14.7%
-1.4%
自由现金流更多
URI
多$863.0M
$191.0M
两年增速更快
URI
近两年复合增速
6.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $4.0B |
| 净利润 | $-37.0M | $531.0M |
| 毛利率 | 32.9% | 36.9% |
| 营业利润率 | 3.7% | 21.8% |
| 净利率 | -1.4% | 13.3% |
| 营收同比 | -9.1% | 7.2% |
| 净利润同比 | 97.1% | 2.5% |
| 每股收益（稀释后） | $-17.37 | $8.43 |
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QVCGAURI
| Q1 26 | — | $4.0B | ||
| Q4 25 | $2.7B | $992.0M | ||
| Q3 25 | $2.2B | $938.0M | ||
| Q2 25 | $2.2B | $872.0M | ||
| Q1 25 | $2.1B | $893.0M | ||
| Q4 24 | $2.9B | $1.0B | ||
| Q3 24 | $2.3B | $874.0M | ||
| Q2 24 | $2.4B | $870.0M |
净利润QVCGAURI
| Q1 26 | — | $531.0M | ||
| Q4 25 | $-37.0M | $653.0M | ||
| Q3 25 | $-80.0M | $701.0M | ||
| Q2 25 | $-2.2B | $622.0M | ||
| Q1 25 | $-100.0M | $518.0M | ||
| Q4 24 | $-1.3B | $689.0M | ||
| Q3 24 | $-23.0M | $708.0M | ||
| Q2 24 | $20.0M | $636.0M |
毛利率QVCGAURI
| Q1 26 | — | 36.9% | ||
| 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QVCGAURI
| Q1 26 | — | 21.8% | ||
| Q4 25 | 3.7% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | -101.6% | — | ||
| Q1 25 | 0.7% | 90.0% | ||
| Q4 24 | -43.2% | — | ||
| Q3 24 | 6.5% | — | ||
| Q2 24 | 6.9% | — |
净利率QVCGAURI
| Q1 26 | — | 13.3% | ||
| Q4 25 | -1.4% | 65.8% | ||
| Q3 25 | -3.6% | 74.7% | ||
| Q2 25 | -99.4% | 71.3% | ||
| Q1 25 | -4.8% | 58.0% | ||
| Q4 24 | -43.7% | 67.6% | ||
| Q3 24 | -1.0% | 81.0% | ||
| Q2 24 | 0.8% | 73.1% |
每股收益（稀释后）QVCGAURI
| Q1 26 | — | $8.43 | ||
| Q4 25 | $-17.37 | $10.20 | ||
| Q3 25 | $-9.89 | $10.91 | ||
| Q2 25 | $-275.46 | $9.59 | ||
| Q1 25 | $-0.25 | $7.91 | ||
| Q4 24 | — | $10.41 | ||
| Q3 24 | $-0.06 | $10.70 | ||
| Q2 24 | $2.57 | $9.54 |
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 | $156.0M |
| 总债务越低越好 | $790.0M | $13.9B |
| 股东权益账面价值 | $-3.1B | $9.0B |
| 总资产 | $7.6B | $29.9B |
| 负债/权益比越低杠杆越低 | — | 1.55× |
8季度趋势，按日历期对齐
现金及短期投资QVCGAURI
| Q1 26 | — | $156.0M | ||
| Q4 25 | $2.0B | $459.0M | ||
| Q3 25 | $1.8B | $512.0M | ||
| Q2 25 | $897.0M | $548.0M | ||
| Q1 25 | $833.0M | $542.0M | ||
| Q4 24 | $905.0M | $457.0M | ||
| Q3 24 | $873.0M | $479.0M | ||
| Q2 24 | $1.2B | $467.0M |
总债务QVCGAURI
| Q1 26 | — | $13.9B | ||
| Q4 25 | $790.0M | $12.7B | ||
| Q3 25 | $5.9B | $12.6B | ||
| Q2 25 | $4.9B | $12.1B | ||
| Q1 25 | $5.0B | $11.5B | ||
| Q4 24 | $4.1B | $12.2B | ||
| Q3 24 | $5.1B | $11.9B | ||
| Q2 24 | $5.3B | $11.5B |
股东权益QVCGAURI
| Q1 26 | — | $9.0B | ||
| Q4 25 | $-3.1B | $9.0B | ||
| Q3 25 | $-3.1B | $9.0B | ||
| Q2 25 | $-3.0B | $9.0B | ||
| Q1 25 | $-981.0M | $8.8B | ||
| Q4 24 | $-971.0M | $8.6B | ||
| Q3 24 | $397.0M | $8.6B | ||
| Q2 24 | $328.0M | $8.3B |
总资产QVCGAURI
| Q1 26 | — | $29.9B | ||
| Q4 25 | $7.6B | $29.9B | ||
| Q3 25 | $7.6B | $30.1B | ||
| Q2 25 | $6.7B | $29.2B | ||
| Q1 25 | $9.0B | $28.1B | ||
| Q4 24 | $9.2B | $28.2B | ||
| Q3 24 | $10.8B | $28.4B | ||
| Q2 24 | $10.9B | $27.6B |
负债/权益比QVCGAURI
| Q1 26 | — | 1.55× | ||
| Q4 25 | — | 1.41× | ||
| Q3 25 | — | 1.40× | ||
| Q2 25 | — | 1.34× | ||
| Q1 25 | — | 1.31× | ||
| Q4 24 | — | 1.42× | ||
| Q3 24 | 12.74× | 1.38× | ||
| Q2 24 | 16.28× | 1.39× |
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 | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $191.0M | $1.1B |
| 自由现金流率自由现金流/营收 | 7.1% | 26.4% |
| 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 | — | 2.85× |
| 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QVCGAURI
| Q1 26 | — | $1.5B | ||
| Q4 25 | $244.0M | $1.3B | ||
| Q3 25 | $4.0M | $1.2B | ||
| Q2 25 | $86.0M | $1.3B | ||
| Q1 25 | $-60.0M | $1.4B | ||
| Q4 24 | $212.0M | $1.0B | ||
| Q3 24 | $20.0M | $1.2B | ||
| Q2 24 | $267.0M | $1.3B |
自由现金流QVCGAURI
| Q1 26 | — | $1.1B | ||
| Q4 25 | $191.0M | — | ||
| Q3 25 | $-27.0M | — | ||
| Q2 25 | $48.0M | — | ||
| Q1 25 | $-94.0M | — | ||
| Q4 24 | $150.0M | $471.0M | ||
| Q3 24 | $-23.0M | $-168.0M | ||
| Q2 24 | $213.0M | $-263.0M |
自由现金流率QVCGAURI
| Q1 26 | — | 26.4% | ||
| Q4 25 | 7.1% | — | ||
| Q3 25 | -1.2% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | -4.5% | — | ||
| Q4 24 | 5.1% | 46.2% | ||
| Q3 24 | -1.0% | -19.2% | ||
| Q2 24 | 8.8% | -30.2% |
资本支出强度QVCGAURI
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 2.1% | 56.6% | ||
| Q3 24 | 1.8% | 157.0% | ||
| Q2 24 | 2.2% | 175.6% |
现金转化率QVCGAURI
| Q1 26 | — | 2.85× | ||
| Q4 25 | — | 1.92× | ||
| Q3 25 | — | 1.68× | ||
| Q2 25 | — | 2.14× | ||
| Q1 25 | — | 2.75× | ||
| Q4 24 | — | 1.52× | ||
| Q3 24 | — | 1.70× | ||
| Q2 24 | 13.35× | 1.99× |
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% |
URI
| Equipment rentals | $3.4B | 86% |
| Sales of rental equipment | $350.0M | 9% |
| Service and other revenues | $92.0M | 2% |
| Sales of new equipment | $84.0M | 2% |
| Contractor supplies sales | $40.0M | 1% |
