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QVC Group, Inc.（QVCGA）与西部数据（WDC）财务数据对比。点击上方公司名可切换其他公司
西部数据的季度营收约是QVC Group, Inc.的1.1倍（$3.0B vs $2.7B），西部数据净利率更高（61.1% vs -1.4%，领先62.4%），西部数据同比增速更快（31.5% vs -9.1%），过去两年QVC Group, Inc.的营收复合增速更高（6.9% vs -6.6%）
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。
西部数据（简称WD）是总部位于美国加利福尼亚州圣何塞的知名数据存储企业，成立于1970年，是全球最大的硬盘驱动器（HDD）制造商之一，产品覆盖消费级、企业级等多元存储场景，为全球客户提供高性能、高可靠性的存储解决方案。
QVCGA vs WDC — 直观对比
营收规模更大
WDC
是对方的1.1倍
$2.7B
营收增速更快
WDC
高出40.6%
-9.1%
净利率更高
WDC
高出62.4%
-1.4%
两年增速更快
QVCGA
近两年复合增速
-6.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $3.0B |
| 净利润 | $-37.0M | $1.8B |
| 毛利率 | 32.9% | 45.7% |
| 营业利润率 | 3.7% | 30.1% |
| 净利率 | -1.4% | 61.1% |
| 营收同比 | -9.1% | 31.5% |
| 净利润同比 | 97.1% | 254.2% |
| 每股收益（稀释后） | $-17.37 | $4.73 |
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QVCGAWDC
| Q1 26 | — | $3.0B | ||
| Q4 25 | $2.7B | $2.8B | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.2B | $-1.2B | ||
| Q1 25 | $2.1B | $2.3B | ||
| Q4 24 | $2.9B | $4.3B | ||
| Q3 24 | $2.3B | $4.1B | ||
| Q2 24 | $2.4B | $3.8B |
净利润QVCGAWDC
| Q1 26 | — | $1.8B | ||
| Q4 25 | $-37.0M | $1.2B | ||
| Q3 25 | $-80.0M | — | ||
| Q2 25 | $-2.2B | $282.0M | ||
| Q1 25 | $-100.0M | $520.0M | ||
| Q4 24 | $-1.3B | $594.0M | ||
| Q3 24 | $-23.0M | $493.0M | ||
| Q2 24 | $20.0M | $39.0M |
毛利率QVCGAWDC
| Q1 26 | — | 45.7% | ||
| Q4 25 | 32.9% | 43.5% | ||
| Q3 25 | 34.0% | — | ||
| Q2 25 | 36.4% | — | ||
| Q1 25 | 34.2% | 39.8% | ||
| Q4 24 | 33.3% | 35.4% | ||
| Q3 24 | 35.3% | 37.9% | ||
| Q2 24 | 36.4% | 35.9% |
营业利润率QVCGAWDC
| Q1 26 | — | 30.1% | ||
| Q4 25 | 3.7% | 28.1% | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | -101.6% | — | ||
| Q1 25 | 0.7% | 33.1% | ||
| Q4 24 | -43.2% | 19.9% | ||
| Q3 24 | 6.5% | 18.1% | ||
| Q2 24 | 6.9% | 5.7% |
净利率QVCGAWDC
| Q1 26 | — | 61.1% | ||
| Q4 25 | -1.4% | 41.9% | ||
| Q3 25 | -3.6% | — | ||
| Q2 25 | -99.4% | -24.4% | ||
| Q1 25 | -4.8% | 22.7% | ||
| Q4 24 | -43.7% | 13.9% | ||
| Q3 24 | -1.0% | 12.0% | ||
| Q2 24 | 0.8% | 1.0% |
每股收益（稀释后）QVCGAWDC
| Q1 26 | — | $4.73 | ||
| Q4 25 | $-17.37 | $3.07 | ||
| Q3 25 | $-9.89 | — | ||
| Q2 25 | $-275.46 | $0.72 | ||
| Q1 25 | $-0.25 | $1.42 | ||
| Q4 24 | — | $1.63 | ||
| Q3 24 | $-0.06 | $1.35 | ||
| Q2 24 | $2.57 | $0.15 |
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 | $2.0B |
| 总债务越低越好 | $790.0M | $4.7B |
| 股东权益账面价值 | $-3.1B | $7.1B |
| 总资产 | $7.6B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.65× |
8季度趋势，按日历期对齐
现金及短期投资QVCGAWDC
| Q1 26 | — | $2.0B | ||
| Q4 25 | $2.0B | $2.0B | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $897.0M | $2.1B | ||
| Q1 25 | $833.0M | $3.5B | ||
| Q4 24 | $905.0M | $2.3B | ||
| Q3 24 | $873.0M | $1.7B | ||
| Q2 24 | $1.2B | $1.9B |
总债务QVCGAWDC
| Q1 26 | — | $4.7B | ||
| Q4 25 | $790.0M | $4.7B | ||
| Q3 25 | $5.9B | — | ||
| Q2 25 | $4.9B | $4.7B | ||
| Q1 25 | $5.0B | $7.3B | ||
| Q4 24 | $4.1B | $7.4B | ||
| Q3 24 | $5.1B | $7.4B | ||
| Q2 24 | $5.3B | $7.4B |
股东权益QVCGAWDC
| Q1 26 | — | $7.1B | ||
| Q4 25 | $-3.1B | $5.9B | ||
| Q3 25 | $-3.1B | — | ||
| Q2 25 | $-3.0B | $5.3B | ||
| Q1 25 | $-981.0M | $5.2B | ||
| Q4 24 | $-971.0M | $12.1B | ||
| Q3 24 | $397.0M | $11.6B | ||
| Q2 24 | $328.0M | $10.8B |
总资产QVCGAWDC
| Q1 26 | — | $15.6B | ||
| Q4 25 | $7.6B | $14.4B | ||
| Q3 25 | $7.6B | — | ||
| Q2 25 | $6.7B | $14.0B | ||
| Q1 25 | $9.0B | $16.4B | ||
| Q4 24 | $9.2B | $25.5B | ||
| Q3 24 | $10.8B | $24.8B | ||
| Q2 24 | $10.9B | $24.2B |
负债/权益比QVCGAWDC
| Q1 26 | — | 0.65× | ||
| Q4 25 | — | 0.80× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.89× | ||
| Q1 25 | — | 1.42× | ||
| Q4 24 | — | 0.61× | ||
| Q3 24 | 12.74× | 0.64× | ||
| Q2 24 | 16.28× | 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 | $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QVCGAWDC
| Q1 26 | — | — | ||
| Q4 25 | $244.0M | $672.0M | ||
| Q3 25 | $4.0M | — | ||
| Q2 25 | $86.0M | $746.0M | ||
| Q1 25 | $-60.0M | $508.0M | ||
| Q4 24 | $212.0M | $403.0M | ||
| Q3 24 | $20.0M | $34.0M | ||
| Q2 24 | $267.0M | $366.0M |
自由现金流QVCGAWDC
| Q1 26 | — | — | ||
| Q4 25 | $191.0M | $599.0M | ||
| Q3 25 | $-27.0M | — | ||
| Q2 25 | $48.0M | $675.0M | ||
| Q1 25 | $-94.0M | $379.0M | ||
| Q4 24 | $150.0M | $287.0M | ||
| Q3 24 | $-23.0M | $-62.0M | ||
| Q2 24 | $213.0M | $250.0M |
自由现金流率QVCGAWDC
| Q1 26 | — | — | ||
| Q4 25 | 7.1% | 21.3% | ||
| Q3 25 | -1.2% | — | ||
| Q2 25 | 2.1% | -58.5% | ||
| Q1 25 | -4.5% | 16.5% | ||
| Q4 24 | 5.1% | 6.7% | ||
| Q3 24 | -1.0% | -1.5% | ||
| Q2 24 | 8.8% | 6.6% |
资本支出强度QVCGAWDC
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 2.6% | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.7% | -6.2% | ||
| Q1 25 | 1.6% | 5.6% | ||
| Q4 24 | 2.1% | 2.7% | ||
| Q3 24 | 1.8% | 2.3% | ||
| Q2 24 | 2.2% | 3.1% |
现金转化率QVCGAWDC
| Q1 26 | — | — | ||
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.65× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | 13.35× | 9.38× |
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% |
WDC
| Cloud | $2.7B | 89% |
| Client Devices | $176.0M | 6% |
| Consumer | $168.0M | 6% |
