QVCD

MKT CAP:—

QVC, Inc. 6.375% Senior Secured

Market Cap

—

Communication Services·Broadcasting·🇺🇸 United States·NYSE

Communication·Broadcasting·🇺🇸·NYSE

Stock Price

$10.10+$1.60 (+18.82%)

Apr 16, 2026

Company Details

QVC was founded in 1986 by Joseph Segel, an entrepreneur who saw an opportunity to create a new and engaging shopping experience through television broadcasts. He named the company QVC to represent its three guiding principles: Quality, Val...

CEO

None

IPO Date

Sep 18, 2018

Website

www.qvc.com

Key Metrics TTM

Revenue

$8.3B

-12.7% YoY

Net Income

$113M

EPS (Diluted)

$0.00

Free Cash Flow

$319M

Revenue / Share

—

Gross Margin

34.8%

Operating Margin

6.0%

Net Margin

1.4%

FCF Margin

3.8%

P/S

—

P/E

—

Earnings Reports

Q1 2025

May 7, 2025

$1.9B-9.8%EPS $0.00

Q2 2024

Aug 8, 2024

$2.1B-4.0%EPS $0.00

Q1 2024

May 8, 2024

$2.1B-3.7%EPS $0.00

FY 2023

Feb 28, 2024

$9.4BEPS $0.00

Q3 2023

Nov 3, 2023

$2.2B-1.0%EPS $0.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 20	$2.7B	$981M	$388M
Q4 20	$3.6B	$1.2B	$548M
Q1 21	$2.7B	$952M	$381M
Q2 21	$2.8B	$1.0B	$422M
Q3 21	$2.5B	$895M	$316M
Q4 21	$3.4B	$1.1B	$409M
Q1 22	$2.4B	$793M	$212M
Q2 22	$2.4B	$784M	$200M
Q3 22	$2.2B	$691M	$102M
Q4 22	$2.9B	$853M	$142M
Q1 23	$2.2B	$705M	$113M
Q2 23	$2.2B	$768M	$157M
Q3 23	$2.2B	$770M	$154M
Q1 24	$2.1B	$738M	$157M
Q2 24	$2.1B	$760M	$163M
Q1 25	$1.9B	$634M	$29M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	$501M	$453M
Q4 20	$554M	$476M
Q1 21	$247M	$206M
Q2 21	$398M	$345M
Q3 21	$33M	-$18M
Q4 21	$491M	$426M
Q1 22	-$18M	-$52M
Q2 22	$62M	$15M
Q3 22	$133M	$79M
Q4 22	$232M	$151M
Q1 23	$177M	$137M
Q2 23	$414M	$375M
Q3 23	$173M	$136M
Q1 24	$84M	$52M
Q2 24	$164M	$115M
Q1 25	$46M	$16M

Capital Expenditures

Quarter	CapEx
Q3 20	$48M
Q4 20	$78M
Q1 21	$41M
Q2 21	$53M
Q3 21	$51M
Q4 21	$65M
Q1 22	$34M
Q2 22	$47M
Q3 22	$54M
Q4 22	$81M
Q1 23	$40M
Q2 23	$39M
Q3 23	$37M
Q1 24	$32M
Q2 24	$49M
Q1 25	$30M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 20	+7.9%	+6.5%
Q4 20	+4.4%	+1.9%
Q1 21	+11.7%	+8.0%
Q2 21	+2.1%	+0.7%
Q3 21	-7.1%	-5.1%
Q4 21	-7.4%	-4.2%
Q1 22	-13.1%	-8.0%
Q2 22	-14.0%	-7.0%
Q3 22	-11.7%	-3.7%
Q4 22	-12.8%	-5.5%
Q1 23	-6.8%	-2.9%
Q2 23	-7.0%	-5.7%
Q3 23	-1.0%	-3.5%
Q1 24	-27.8%	-29.8%
Q2 24	-2.7%	-5.2%
Q1 25	-14.3%	-9.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$10M	0.4%
Q4 20	$11M	0.3%
Q1 21	$9M	0.3%
Q2 21	$11M	0.4%
Q3 21	$13M	0.5%
Q4 21	$11M	0.3%
Q1 22	$8M	0.3%
Q2 22	$10M	0.4%
Q3 22	$9M	0.4%
Q4 22	$9M	0.3%
Q1 23	$9M	0.4%
Q2 23	$11M	0.5%
Q3 23	$7M	0.3%
Q1 24	$12M	0.6%
Q2 24	$2M	0.1%
Q1 25	$4M	0.2%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q3 20	$3M	—	—	$479M
Q4 20	$5M	$377M	$208M	—
Q1 21	$4M	—	—	$469M
Q2 21	$4M	—	—	$501M
Q3 21	$3M	—	—	$468M
Q4 21	$4M	$303M	$288M	—
Q1 22	$4M	—	—	$472M
Q2 22	$4M	—	—	$482M
Q3 22	$3M	—	—	$495M
Q4 22	$4M	$317M	$298M	—
Q1 23	$4M	—	—	$503M
Q2 23	$4M	—	—	$517M
Q3 23	$3M	—	—	$499M
Q1 24	$4M	—	—	$490M
Q2 24	$4M	—	—	$491M
Q1 25	—	—	—	$299M

Revenue Segments

Quarter	Accessories	Apparel	Beauty	Electronics	Home	Jewelry	Other revenue
Q3 20	$286M	$427M	$465M	$222M	$1.1B	$152M	$46M
Q4 20	$340M	$378M	$576M	$525M	$1.6B	$151M	$53M
Q1 21	$304M	$416M	$450M	$234M	$1.1B	$158M	$49M
Q2 21	$343M	$486M	$487M	$199M	$1.1B	$130M	$51M
Q3 21	$272M	$455M	$443M	$195M	$951M	$150M	$46M
Q4 21	$326M	$426M	$566M	$455M	$1.4B	$149M	$49M
Q1 22	$257M	$413M	$406M	$173M	$922M	$139M	$44M
Q2 22	$299M	$473M	$398M	$137M	$928M	$113M	$44M
Q3 22	$239M	$430M	$381M	$172M	$829M	$118M	$48M
Q4 22	$289M	$372M	$502M	$385M	$1.2B	$126M	$65M
Q1 23	$243M	$408M	$379M	$127M	$872M	$116M	$48M
Q2 23	$279M	$451M	$407M	$97M	$846M	$100M	$44M
Q3 23	$253M	$409M	$376M	$140M	$851M	$120M	$45M
Q1 24	$249M	$390M	$368M	$123M	$826M	$113M	$42M
Q2 24	$265M	$433M	$380M	$89M	$817M	$112M	$38M
Q1 25	$219M	$357M	$331M	$104M	$761M	$96M	$37M

Revenue by Geography

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$510M	$0	$510M
Q1 22	$522M	$0	$522M
Q2 22	$413M	$0	$413M
Q3 22	$517M	$0	$517M
Q4 22	$357M	$0	$357M
Q1 23	$421M	$0	$421M
Q2 23	$649M	$0	$649M
Q3 23	$279M	$0	$279M
Q4 23	$307M	$0	$307M
Q1 24	$311M	$0	$311M
Q2 24	$315M	$0	$315M
Q3 24	$297M	$0	$297M
Q4 24	$297M	$0	$297M
Q1 25	$295M	$0	$295M
Q2 25	$330M	$0	$330M
Q3 25	$1.3B	$0	$1.3B

Shares Outstanding

Quarter	QoQ Change	YoY Change
Q3 20	—	—
Q4 20	—	—
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q1 24	—	—
Q2 24	—	—
Q1 25	—	—

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 20	$132.5K	20K
Q4 20	$163.0K	22K
Q1 21	$122.1K	22K
Q2 21	$125.2K	22K
Q3 21	$113.2K	22K
Q4 21	$152.4K	22K
Q1 22	$107.0K	22K
Q2 22	$108.7K	22K
Q3 22	$100.8K	22K
Q4 22	$140.6K	21K
Q1 23	$105.4K	21K
Q2 23	$106.9K	21K
Q3 23	$105.5K	21K
Q1 24	$114.7K	18K
Q2 24	$116.0K	18K
Q1 25	$112.1K	17K

Revenue / Employee