Qvc Inc Financials

QVCC

FY2025 annual

Revenue $8.3B -7.8% YoY

Net Income -$2.2B -102.8% YoY

EPS (Diluted) Not reported for FY2025

Free Cash Flow $287.0M -20.7% YoY

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 15, 2026 Currency USD FYE December

Qvc Inc (QVCC) reported $8.3B in revenue for fiscal year 2025, down 7.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI QVCC FY2025 2026-05-15

Stable gross margins mask a below-the-line cost surge, leaving the business cash-generative but increasingly dependent on financing support.

From FY2023 to FY2025, gross margin stayed near 34% while operating margin fell from 6.8% to -24.3%, which points away from weakening product economics and toward heavier overhead, charges, or lost fixed-cost absorption below gross profit. That gap matters because operating cash flow remained positive at $419M in FY2025 even with a -$2.2B net loss, so the reported loss appears far more severe than the cash drain.

Free cash flow stayed positive at $287M in FY2025 because capital spending was only $132M, showing this is not a business that needs heavy annual reinvestment just to keep operating. The more important operating question is therefore expense structure and working-capital release, not whether cash is being consumed by factories or equipment.

The balance sheet became much tighter: current assets no longer cover current liabilities, even though cash climbed to $1.5B and the current ratio fell to 0.6x. Because financing cash flow was a positive $1.0B in FY2025, that liquidity improvement looks supported by external funding or liability reshuffling rather than by a broad strengthening in near-term obligations.

Financial Health Signals

Financial health score not available

Qvc Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Neutral

5/9

Qvc Inc passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

N/A

Qvc Inc reported a net loss of $2.2B while generating $419.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Qvc Inc reported an operating loss of $2.0B against $286.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$8.3B

YoY-7.8%

5Y CAGR-6.3%

10Y CAGR-0.5%

Qvc Inc generated $8.3B in revenue in fiscal year 2025. This represents a decrease of 7.8% from the prior year.

EBITDA

-$1.6B

YoY-293.3%

Qvc Inc's EBITDA was -$1.6B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 293.3% from the prior year.

Net Income

-$2.2B

YoY-102.8%

Qvc Inc reported -$2.2B in net income in fiscal year 2025. This represents a decrease of 102.8% from the prior year.

EPS (Diluted)

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

$287.0M

YoY-20.7%

5Y CAGR-32.3%

Qvc Inc generated $287.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 20.7% from the prior year.

Cash & Debt

$1.5B

YoY+403.7%

5Y CAGR+17.0%

10Y CAGR+16.4%

Qvc Inc held $1.5B in cash against $1.0M in long-term debt as of fiscal year 2025, with $6.5B of liabilities due within a year.

Shares Outstanding

YoY0.0%

5Y CAGR0.0%

10Y CAGR0.0%

Qvc Inc had 1 shares outstanding in fiscal year 2025. That is unchanged from the prior year.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin

33.6%

YoY-0.8pp

5Y CAGR-1.7pp

10Y CAGR-3.2pp

Qvc Inc's gross margin was 33.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.8 percentage points from the prior year.

Operating Margin

-24.3%

YoY-15.8pp

5Y CAGR-38.0pp

10Y CAGR-38.9pp

Qvc Inc's operating margin was -24.3% in fiscal year 2025, reflecting core business profitability. This is down 15.8 percentage points from the prior year.

Net Margin

-26.1%

YoY-14.3pp

5Y CAGR-33.5pp

10Y CAGR-33.3pp

Qvc Inc's net profit margin was -26.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 14.3 percentage points from the prior year.

Return on Equity

-181.4%

YoY-149.0pp

5Y CAGR-192.0pp

10Y CAGR-197.0pp

Qvc Inc's ROE was -181.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 149.0 percentage points from the prior year.

Capital Allocation

Capital Expenditures

$132.0M

YoY-23.7%

5Y CAGR-9.5%

Qvc Inc invested $132.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 23.7% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Share Buybacks

Not reported for fiscal year 2025.

QVCC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

QVCC quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$8.2B	$8.3B-7.8%	$9.0B-4.8%	$9.4B-4.4%	$9.9B-12.9%	$11.4B-1.0%	$11.5B+4.4%	$11.0B-2.6%	$11.3B+28.6%	$8.8B+1.0%	$8.7B-0.7%	$8.7B-0.7%	$8.8B+2.1%	$8.6B+1.3%	$8.5B+3.0%	$8.3B
Cost of Revenue	$5.4B	$5.5B-6.8%	$5.9B-5.9%	$6.3B-8.4%	$6.8B-7.1%	$7.4B-0.7%	$7.4B+3.8%	$7.1B-1.4%	$7.2B+29.5%	$5.6B+1.0%	$5.5B+0.2%	$5.5B-0.3%	$5.5B+1.5%	$5.5B+0.8%	$5.4B+2.7%	$5.3B
Gross Profit	$2.7B	$2.8B-9.8%	$3.1B-2.6%	$3.2B+1.3%	$3.1B-21.3%	$4.0B-1.7%	$4.1B+5.6%	$3.8B-4.9%	$4.0B+27.1%	$3.2B+1.0%	$3.1B-2.3%	$3.2B-1.2%	$3.3B+3.0%	$3.2B+2.0%	$3.1B+3.6%	$3.0B
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$744.0M+2.2%	$728.0M-2.3%	$745.0M-3.2%	$770.0M+3.4%	$745.0M+26.7%	$588.0M+9.9%	$535.0M
Operating Income	-$2.0B	-$2.0B-161.9%	-$770.0M-219.4%	$645.0M+146.1%	-$1.4B-192.8%	$1.5B-3.8%	$1.6B+18.1%	$1.3B-12.2%	$1.5B+15.5%	$1.3B+8.8%	$1.2B-5.6%	$1.3B-0.3%	$1.3B+2.7%	$1.2B-1.8%	$1.3B+11.5%	$1.1B
Interest Expense	$298.0M	$286.0M+7.1%	$267.0M+8.1%	$247.0M+208.3%	-$228.0M+8.4%	-$249.0M+3.1%	-$257.0M-7.1%	-$240.0M+1.2%	-$243.0M-13.6%	-$214.0M-1.9%	-$210.0M-1.0%	-$208.0M+13.0%	-$239.0M-211.7%	$214.0M-8.2%	$233.0M+1.7%	$229.0M
Income Tax	-$143.0M	-$153.0M-5200.0%	$3.0M-98.5%	$205.0M-6.8%	$220.0M-46.1%	$408.0M+18.3%	$345.0M+31.7%	$262.0M-21.6%	$334.0M+140.3%	$139.0M-63.9%	$385.0M-1.0%	$389.0M+9.9%	$354.0M+0.3%	$353.0M-10.4%	$394.0M+15.2%	$342.0M
Net Income	-$2.2B	-$2.2B-102.8%	-$1.1B-772.3%	$159.0M+108.5%	-$1.9B-337.2%	$787.0M-6.8%	$844.0M+10.0%	$767.0M-13.0%	$882.0M-2.1%	$901.0M+49.2%	$604.0M-3.8%	$628.0M+5.7%	$594.0M+1.0%	$588.0M-5.8%	$624.0M+11.4%	$560.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$1.8B-27.0%	$2.4B+22.2%	$2.0B-0.1%	$2.0B+4.1%	$1.9B-28.4%	$2.7B+27.2%	$2.1B-2.0%	$2.1B
Cost of Revenue	$1.2B-27.9%	$1.6B+24.2%	$1.3B+2.8%	$1.3B+0.8%	$1.3B-29.1%	$1.8B+31.2%	$1.4B-0.6%	$1.4B
Gross Profit	$589.0M-25.1%	$786.0M+18.2%	$665.0M-5.4%	$703.0M+10.9%	$634.0M-27.0%	$868.0M+19.6%	$726.0M-4.5%	$760.0M
Operating Income	$56.0M-58.5%	$135.0M+48.4%	$91.0M+104.0%	-$2.3B-7934.5%	$29.0M+102.3%	-$1.3B-864.6%	$164.0M+0.6%	$163.0M
Interest Expense	$76.0M-78.3%	$351.0M+631.8%	-$66.0M-4.8%	-$63.0M-198.4%	$64.0M-86.0%	$458.0M+838.7%	-$62.0M+7.5%	-$67.0M
Income Tax	$8.0M-66.7%	$24.0M+60.0%	$15.0M+107.9%	-$190.0M-9400.0%	-$2.0M+97.7%	-$87.0M-422.2%	$27.0M-12.9%	$31.0M
Net Income	-$25.0M-167.6%	$37.0M+1750.0%	$2.0M+100.1%	-$2.2B-5054.8%	-$42.0M+96.6%	-$1.2B-2500.0%	$51.0M-3.8%	$53.0M

Not reported in any period shown, so not listed: R&D Expenses, SG&A Expenses, EPS (Diluted).

QVCC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

QVCC quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$8.5B-14.5%	$9.9B-15.6%	$11.7B-5.5%	$12.4B-23.2%	$16.1B-2.5%	$16.6B+10.9%	$14.9B+0.5%	$14.9B+3.8%	$14.3B+24.0%	$11.5B-4.3%	$12.1B-1.4%	$12.2B-6.4%	$13.1B-2.8%	$13.4B	N/A
Current Assets	$3.6B+42.3%	$2.5B-5.1%	$2.6B-9.3%	$2.9B-21.4%	$3.7B-0.1%	$3.7B-2.0%	$3.8B-1.4%	$3.8B+18.1%	$3.2B+28.0%	$2.5B-5.3%	$2.7B+7.7%	$2.5B-8.6%	$2.7B0.0%	$2.7B	N/A
Cash & Equivalents	$1.5B+403.7%	$297.0M-3.3%	$307.0M-14.0%	$357.0M-30.0%	$510.0M-25.2%	$682.0M+21.6%	$561.0M+3.3%	$543.0M+92.6%	$282.0M-0.7%	$284.0M-13.1%	$327.0M-5.8%	$347.0M0.0%	$347.0M-35.7%	$540.0M-3.6%	$560.0M
Inventory	$832.0M-7.7%	$901.0M+4.8%	$860.0M-16.9%	$1.0B-23.6%	$1.4B+21.1%	$1.1B-7.8%	$1.2B-5.2%	$1.3B+6.3%	$1.2B+26.7%	$950.0M+2.3%	$929.0M+5.3%	$882.0M-5.3%	$931.0M+2.4%	$909.0M	N/A
Accounts Receivable	$1.0B-10.4%	$1.1B-12.4%	$1.3B-4.9%	$1.4B-17.2%	$1.6B+2.7%	$1.6B-11.6%	$1.8B+1.5%	$1.8B+6.4%	$1.7B+34.8%	$1.2B-9.1%	$1.4B+14.5%	$1.2B+7.7%	$1.1B+5.3%	$1.1B	N/A
Goodwill	$800.0M-63.7%	$2.2B-30.1%	$3.2B-9.2%	$3.5B-41.9%	$6.0B-1.1%	$6.0B+1.1%	$6.0B0.0%	$6.0B-0.1%	$6.0B+19.7%	$5.0B-0.8%	$5.0B-1.1%	$5.1B-2.0%	$5.2B-0.7%	$5.2B-0.1%	$5.2B
Total Liabilities	$7.2B+10.2%	$6.5B-11.7%	$7.4B-5.7%	$7.8B-7.0%	$8.4B0.0%	$8.4B+3.7%	$8.1B+1.2%	$8.0B-5.8%	$8.5B+11.4%	$7.7B-3.7%	$7.9B+10.6%	$7.2B+6.9%	$6.7B+1.7%	$6.6B	N/A
Current Liabilities	$6.5B+189.6%	$2.2B-0.8%	$2.3B+11.7%	$2.0B-18.4%	$2.5B-13.0%	$2.8B+43.7%	$2.0B-19.5%	$2.5B+20.8%	$2.0B+39.1%	$1.5B-5.1%	$1.5B+1.1%	$1.5B+3.8%	$1.5B-4.3%	$1.5B	N/A
Long-Term Debt	$1.0M-100.0%	$3.3B-15.3%	$3.9B-17.2%	$4.7B-6.0%	$5.0B+10.4%	$4.5B-10.8%	$5.1B+8.6%	$4.7B-16.6%	$5.6B+6.8%	$5.3B-2.2%	$5.4B+17.8%	$4.6B+20.5%	$3.8B+9.7%	$3.5B	N/A
Total Equity	$1.2B-63.7%	$3.3B-22.5%	$4.3B-5.1%	$4.5B-41.1%	$7.6B-5.0%	$8.0B+19.9%	$6.7B-0.5%	$6.7B+18.0%	$5.7B+49.8%	$3.8B-5.6%	$4.0B-18.7%	$4.9B-20.6%	$6.2B-7.0%	$6.7B-16.6%	$8.0B
Retained Earnings	-$9.7B-29.3%	-$7.5B-18.5%	-$6.4B-4.6%	-$6.1B-106.7%	-$2.9B-8.1%	-$2.7B-13.9%	-$2.4B-5.3%	-$2.3B+18.9%	-$2.8B+1.2%	-$2.8B-6.1%	-$2.7B-47.9%	-$1.8B-191.1%	-$620.0M-285.1%	-$161.0M	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$8.0B-5.5%	$8.5B+1.5%	$8.3B+12.9%	$7.4B-23.8%	$9.7B-2.2%	$9.9B0.0%	$9.9B-12.0%	$11.2B
Current Assets	$3.2B-10.7%	$3.6B+6.0%	$3.4B+44.7%	$2.3B+2.2%	$2.3B-9.2%	$2.5B+2.8%	$2.4B+5.1%	$2.3B
Cash & Equivalents	$1.4B-5.3%	$1.5B+8.9%	$1.4B+281.7%	$360.0M+14.6%	$314.0M+5.7%	$297.0M0.0%	$297.0M-5.7%	$315.0M
Inventory	$860.0M+3.4%	$832.0M-18.3%	$1.0B+0.6%	$1.0B+1.1%	$1.0B+11.1%	$901.0M-19.0%	$1.1B+17.1%	$950.0M
Accounts Receivable	$750.0M-26.2%	$1.0B+22.6%	$829.0M+1.0%	$821.0M-1.3%	$832.0M-26.6%	$1.1B+30.0%	$872.0M-1.4%	$884.0M
Goodwill	$782.0M-2.3%	$800.0M-1.0%	$808.0M-1.1%	$817.0M-63.4%	$2.2B+1.2%	$2.2B-30.3%	$3.2B+1.6%	$3.1B
Total Liabilities	$6.8B-5.7%	$7.2B+1.6%	$7.1B+15.7%	$6.1B-3.6%	$6.3B-2.8%	$6.5B-2.8%	$6.7B-2.9%	$6.9B
Current Liabilities	$6.1B-5.9%	$6.5B+389.1%	$1.3B-0.3%	$1.3B-5.3%	$1.4B-37.3%	$2.2B+2.0%	$2.2B+5.9%	$2.1B
Long-Term Debt	$1.0M0.0%	$1.0M-100.0%	$5.0B+24.1%	$4.0B+2.0%	$4.0B+19.8%	$3.3B-2.5%	$3.4B-8.0%	$3.7B
Total Equity	$1.1B-4.7%	$1.2B+2.2%	$1.2B-1.2%	$1.2B-63.7%	$3.3B-1.1%	$3.3B-28.9%	$4.6B+8.8%	$4.3B
Retained Earnings	-$9.8B-0.3%	-$9.7B+0.4%	-$9.8B0.0%	-$9.8B-28.4%	-$7.6B-1.1%	-$7.5B-19.7%	-$6.3B+0.2%	-$6.3B

QVCC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

QVCC quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$275.0M	$419.0M-21.7%	$535.0M-51.1%	$1.1B+167.5%	$409.0M-65.0%	$1.2B-47.7%	$2.2B+69.0%	$1.3B+14.4%	$1.2B-3.8%	$1.2B+2.0%	$1.2B+14.6%	$1.0B-16.4%	$1.2B+26.3%	$973.0M-19.3%	$1.2B+47.4%	$818.0M
Capital Expenditures	N/A	$132.0M-23.7%	$173.0M-4.9%	$182.0M-15.7%	$216.0M+2.9%	$210.0M-3.7%	$218.0M-25.1%	$291.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	$287.0M-20.7%	$362.0M-60.3%	$912.0M+372.5%	$193.0M-79.9%	$959.0M-52.4%	$2.0B+95.5%	$1.0B	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$172.0M	-$221.0M-7.3%	-$206.0M-338.3%	-$47.0M-107.4%	$638.0M+350.2%	-$255.0M+8.6%	-$279.0M+31.4%	-$407.0M+1.5%	-$413.0M-128.2%	-$181.0M+18.1%	-$221.0M+22.5%	-$285.0M-35.1%	-$211.0M+21.9%	-$270.0M+21.5%	-$344.0M-34.4%	-$256.0M
Financing Cash Flow	$1.0B	$1.0B+419.9%	-$321.0M+70.5%	-$1.1B+6.6%	-$1.2B-10.2%	-$1.1B+43.0%	-$1.9B-107.4%	-$894.0M-84.3%	-$485.0M+53.3%	-$1.0B-5.8%	-$981.0M-29.1%	-$760.0M+29.8%	-$1.1B-41.8%	-$763.0M+11.5%	-$862.0M-37.5%	-$627.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$879.0M+139.5%	$367.0M-57.6%	$866.0M+23.2%	$703.0M	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$98.0M-140.0%	$245.0M+222.4%	$76.0M+46.2%	$52.0M+13.0%	$46.0M-75.7%	$189.0M+92.9%	$98.0M-40.2%	$164.0M
Investing Cash Flow	-$25.0M+24.2%	-$33.0M-10.0%	-$30.0M+64.3%	-$84.0M-13.5%	-$74.0M-7.2%	-$69.0M-50.0%	-$46.0M+25.8%	-$62.0M
Financing Cash Flow	-$10.0M+58.3%	-$24.0M-102.5%	$973.0M+1444.4%	$63.0M+320.0%	$15.0M+114.7%	-$102.0M-12.1%	-$91.0M-2.2%	-$89.0M
Dividends Paid	$42.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

QVCC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

QVCC quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	33.6%-0.8pp	34.4%+0.8pp	33.6%+1.9pp	31.7%-3.4pp	35.1%-0.2pp	35.3%+0.4pp	34.9%-0.8pp	35.8%-0.4pp	36.2%0.0pp	36.2%-0.6pp	36.8%-0.2pp	37.0%+0.3pp	36.6%+0.3pp	36.4%+0.2pp	36.2%
Operating Margin	-24.3%-15.8pp	-8.6%-15.4pp	6.8%+21.0pp	-14.1%-27.4pp	13.3%-0.4pp	13.7%+1.6pp	12.1%-1.3pp	13.4%-1.5pp	14.9%+1.1pp	13.9%-0.7pp	14.6%+0.1pp	14.5%+0.1pp	14.4%-0.5pp	14.9%+1.1pp	13.8%
Net Margin	-26.1%-14.3pp	-11.9%-13.6pp	1.7%+20.6pp	-18.9%-25.8pp	6.9%-0.4pp	7.4%+0.4pp	7.0%-0.8pp	7.8%-2.4pp	10.3%+3.3pp	7.0%-0.2pp	7.2%+0.4pp	6.8%-0.1pp	6.8%-0.5pp	7.3%+0.6pp	6.8%
Return on Equity	-181.4%-149.0pp	-32.5%-36.2pp	3.7%+45.4pp	-41.7%-52.1pp	10.4%-0.2pp	10.5%-0.9pp	11.5%-1.6pp	13.1%-2.7pp	15.8%-0.1pp	15.9%+0.3pp	15.6%+3.6pp	12.0%+2.6pp	9.4%+0.1pp	9.3%+2.3pp	7.0%
Return on Assets	-25.6%-14.8pp	-10.8%-12.2pp	1.4%+16.4pp	-15.0%-19.9pp	4.9%-0.2pp	5.1%0.0pp	5.1%-0.8pp	5.9%-0.3pp	6.3%+1.1pp	5.2%0.0pp	5.2%+0.4pp	4.9%+0.4pp	4.5%-0.1pp	4.6%	N/A
Current Ratio	0.55-0.6x	1.12-0.1x	1.17-0.3x	1.44-0.1x	1.50+0.2x	1.30-0.6x	1.91+0.4x	1.560.0x	1.60-0.1x	1.740.0x	1.74+0.1x	1.63-0.2x	1.86+0.1x	1.78	N/A
Debt-to-Equity	0.00-1.0x	1.01+0.1x	0.92-0.1x	1.05+0.4x	0.66+0.1x	0.57-0.2x	0.76+0.1x	0.70-0.3x	0.99-0.4x	1.390.0x	1.34+0.4x	0.93+0.3x	0.61+0.1x	0.52	N/A
FCF Margin	3.5%-0.6pp	4.0%-5.6pp	9.7%+7.7pp	1.9%-6.5pp	8.5%-9.1pp	17.6%+8.2pp	9.4%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	33.3%+0.9pp	32.5%-1.1pp	33.6%-1.9pp	35.4%+2.2pp	33.3%+0.7pp	32.6%-2.1pp	34.7%-0.9pp	35.6%
Operating Margin	3.2%-2.4pp	5.6%+1.0pp	4.6%	-114.5%	1.5%+48.7pp	-47.1%-55.0pp	7.8%+0.2pp	7.6%
Net Margin	-1.4%-2.9pp	1.5%+1.4pp	0.1%	-109.1%	-2.2%+43.8pp	-46.0%-48.5pp	2.4%0.0pp	2.5%
Return on Equity	-2.2%-5.3pp	3.1%+2.9pp	0.2%+183.2pp	-183.0%-181.7pp	-1.3%+35.9pp	-37.2%-38.3pp	1.1%-0.2pp	1.3%
Return on Assets	-0.3%-0.8pp	0.4%+0.4pp	0.0%+29.4pp	-29.4%-28.9pp	-0.4%+11.9pp	-12.4%-12.9pp	0.5%0.0pp	0.5%
Current Ratio	0.520.0x	0.55-2.0x	2.54+0.8x	1.75+0.1x	1.62+0.5x	1.120.0x	1.110.0x	1.12
Debt-to-Equity	0.000.0x	0.00-4.3x	4.30+0.9x	3.42+2.2x	1.22+0.2x	1.01+0.3x	0.73-0.1x	0.87

Not reported in any period shown, so not listed: FCF Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.

Note: The current ratio is below 1.0 (0.55), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Where Qvc Inc Ranks

Frequently Asked Questions

What is Qvc Inc's annual revenue?

Qvc Inc (QVCC) reported $8.3B in total revenue for fiscal year 2025. This represents a -7.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Qvc Inc's revenue growing?

Qvc Inc (QVCC) revenue declined by 7.8% year-over-year, from $9.0B to $8.3B in fiscal year 2025.

Is Qvc Inc profitable?

No, Qvc Inc (QVCC) reported a net income of -$2.2B in fiscal year 2025, with a net profit margin of -26.1%.

What is Qvc Inc's EBITDA?

Qvc Inc (QVCC) had EBITDA of -$1.6B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Qvc Inc have?

As of fiscal year 2025, Qvc Inc (QVCC) had $1.5B in cash and equivalents against $1.0M in long-term debt.

What is Qvc Inc's gross margin?

Qvc Inc (QVCC) had a gross margin of 33.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Qvc Inc's operating margin?

Qvc Inc (QVCC) had an operating margin of -24.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Qvc Inc's net profit margin?

Qvc Inc (QVCC) had a net profit margin of -26.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Qvc Inc's return on equity (ROE)?

Qvc Inc (QVCC) has a return on equity of -181.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Qvc Inc's free cash flow?

Qvc Inc (QVCC) generated $287.0M in free cash flow during fiscal year 2025. This represents a -20.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Qvc Inc's operating cash flow?

Qvc Inc (QVCC) generated $419.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Qvc Inc's total assets?

Qvc Inc (QVCC) had $8.5B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Qvc Inc's capital expenditures?

Qvc Inc (QVCC) invested $132.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Qvc Inc have outstanding?

Qvc Inc (QVCC) had 1 shares outstanding as of fiscal year 2025.

What is Qvc Inc's current ratio?

Qvc Inc (QVCC) had a current ratio of 0.55 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Qvc Inc's debt-to-equity ratio?

Qvc Inc (QVCC) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Qvc Inc's return on assets (ROA)?

Qvc Inc (QVCC) had a return on assets of -25.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Qvc Inc's Piotroski F-Score?

Qvc Inc (QVCC) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Qvc Inc's earnings high quality?

Qvc Inc (QVCC) reported a net loss of $2.2B while generating $419.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Qvc Inc cover its interest payments?

Qvc Inc (QVCC) reported an operating loss of $2.0B against $286.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.