QVC Group Inc. (QRTEA) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 24	$0.09	$0.03	-66.7%	—	$2.3B	—
Q2 24	$0.07	$0.08	+14.3%	—	$2.4B	—
Q1 24	$0.04	$0.04	0.0%	—	$2.3B	—
Q4 23	$0.24	$0.22	-8.3%	—	$3.1B	—
Q3 23	$0.02	$0.1	+400.0%	—	$2.5B	—
Q2 23	$0.11	-$0.03	-127.3%	—	$2.6B	—
Q1 23	-$0.13	-$0.05	+61.5%	—	$2.6B	—
Q4 22	$0.17	-$0.05	-129.4%	—	$3.5B	—
Q3 22	$0.07	-$0.08	-214.3%	—	$2.7B	—
Q2 22	$0.14	$0.12	-14.3%	—	$3B	—
Q1 22	$0.25	$0.15	-40.0%	—	$2.9B	—
Q4 21	$0.61	$0.4	-34.4%	—	$4.1B	—
Q3 21	$0.49	$0.3	-38.8%	—	$3.1B	—
Q2 21	$0.5	$0.54	+8.0%	—	$3.5B	—
Q1 21	$0.28	$0.48	+71.4%	—	$3.3B	—
Q4 20	$0.76	$1.59	+109.2%	—	$4.5B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY24	—	—	—	—	$10B	—
FY23	—	-$0.37	—	—	$10.9B	—
FY22	—	-$6.83	—	—	$12.1B	—
FY21	—	$0.84	—	—	$14B	—
FY20

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24
Revenue	$9.2B	$10.6B	$10.4B	$14.1B	$13.5B	$14.2B	$14B	$12.1B	$10.9B	$10B
YoY change	-8.57%	+16.1%	-2.28%	+35.2%	-4.35%	+5.34%	-0.94%	-13.8%	-9.84%	-8.04%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24
Revenue	9.2B	10.6B	10.4B	14.1B	13.5B	14.2B	14B	12.1B	10.9B	10B
Cost of revenue	5.8B	6.9B	6.8B	9.2B	8.9B	9.3B	9.2B	8.4B	7.2B	6.5B
Gross profit	3.3B	3.7B	3.6B	4.9B	4.6B	4.9B	4.8B	3.7B	3.7B	3.5B
Gross margin	36.2%	35.1%	34.7%	34.5%	33.9%	34.5%	34.3%	30.5%	33.8%	35%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	875M	1.2B	1.2B	1.9B	1.8B	1.9B	1.9B	1.9B	1.9B	1.7B
Operating expenses	1.5B	1.9B	1.8B	2.9B	2.6B	2.8B	2.8B	2.8B	2.7B	2.4B
Operating income	1.2B	968M	1B	1.4B	1.4B	1.6B	1.5B	428M	614M	688M
Operating margin	12.8%	9.09%	10%	9.64%	10%	11.1%	10.5%	3.54%	5.63%	6.85%
Non-operating income, net	91M	486M	362M	-93M	-1.6B	-113M	-365M	-2.3B	-97M	-1.5B
Pretax income	978M	1.1B	1.1B	883M	-622M	1.1B	638M	-2.3B	66M	-1.3B
Income tax	304M	316M	-985M	60M	-217M	-203M	217M	224M	160M	-41M
Net income	674M	1.3B	2.5B	964M	-405M	1.3B	421M	-2.5B	-94M	-1.3B
Net margin	7.35%	12%	23.9%	6.85%	-3.01%	8.85%	3%	-20.9%	-0.86%	-12.5%
EBITDA	1.9B	1.9B	2B	1.9B	1.8B	2.1B	1.9B	1B	1B	1.1B
EPS	1.35	1.03	2.71	1.45	-1.08	2.88	0.84	-6.83	-0.37	—
Diluted EPS	1.35	1.03	2.7	1.45	-1.08	2.84	0.82	-6.83	-0.37	—

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24
Revenue	2.9B	3B	2.7B	3.5B	2.6B	2.6B	2.5B	3.1B	2.3B	2.4B	2.3B	2.9B
Cost of revenue	2B	2B	1.9B	2.5B	1.8B	1.7B	1.6B	2.1B	1.5B	1.5B	1.5B	2B
Gross profit	881M	975M	839M	994M	835M	915M	876M	1.1B	831M	875M	827M	980M
Gross margin	30.6%	33%	30.6%	28.2%	31.6%	34.5%	35.3%	33.7%	35.5%	36.4%	35.3%	33.3%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	445M	461M	464M	575M	478M	466M	415M	510M	408M	418M	405M	477M
Operating expenses	641M	659M	669M	811M	672M	659M	601M	732M	588M	596M	580M	678M
Operating income	110M	182M	63M	73M	63M	152M	170M	229M	144M	183M	152M	209M
Operating margin	3.82%	6.16%	2.3%	2.07%	2.38%	5.74%	6.86%	7.29%	6.15%	7.6%	6.48%	7.1%
Non-operating income, net	78M	278M	-2.6B	-31M	96M	156M	-18M	-331M	4M	-17M	-35M	-1.5B
Pretax income	71M	341M	-2.6B	-71M	65M	185M	33M	-217M	31M	47M	0	-1.4B
Income tax	58M	120M	87M	-41M	32M	66M	21M	41M	23M	15M	15M	-94M
Net income	13M	221M	-2.7B	-30M	33M	119M	12M	-258M	8M	32M	-15M	-1.3B
Net margin	0.45%	7.48%	-99.7%	-0.85%	1.25%	4.49%	0.48%	-8.21%	0.34%	1.33%	-0.64%	-43.3%
EBITDA	292M	357M	227M	171M	167M	262M	276M	326M	241M	275M	234M	317M
EPS	0	0.53	-7.21	—	0.05	0.28	0	—	-0	0.05	-0.06	—
Diluted EPS	0	0.53	-7.21	—	0.05	0.28	0	—	-0	0.05	-0.06	—

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Market cap	13B	9.2B	10.9B	9B	3.6B	4.6B	3.1B	619.4M	340.6M	—	10.8M
Enterprise value	19.1B	15.2B	18.5B	15.7B	10.3B	10.7B	9.8B	6.2B	5.2B	—	4.7B
Shares outstanding	475M	458.4M	445M	462M	424M	416M	403M	380M	387M	—	—

Valuation

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
P/E	19.3	7.19	4.37	9.36	—	3.64	7.28	—	—	—	7.25
P/S	1.42	0.86	1.04	0.64	0.27	0.32	0.22	0.05	0.03	—	0
P/B	2.45	1.85	1.08	1.57	0.72	1.22	1.03	1.18	0.7	—	—
EV/EBITDA	10.2	7.94	9.33	8.47	5.81	5.02	5.08	6.02	5.07	—	4.38
EV/Sales	2.08	1.43	1.78	1.12	0.77	0.75	0.7	0.51	0.47	—	0.47
Earnings yield	5.19%	13.9%	22.9%	10.7%	—	27.5%	13.7%	—	—	—	13.8%
FCF yield	6.06%	13.2%	11.4%	9.51%	23.1%	46.9%	25.9%	-19.2%	169.1%	—	26.6K%

Profitability

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Gross margin	36.2%	35.1%	34.7%	34.5%	33.9%	34.5%	34.3%	30.5%	33.8%	35%	33.3%
Operating margin	12.8%	9.09%	10%	9.64%	10%	11.1%	10.5%	3.54%	5.63%	6.85%	-8.2%
Net margin	7.35%	12%	23.9%	6.85%	-3.01%	8.85%	3%	-20.9%	-0.86%	-12.5%	35%
ROE	12.7%	25.7%	24.7%	16.8%	-8.15%	33.6%	14.1%	-482.3%	-19.2%	141.2%	145.8%
ROA	4.45%	8.87%	10.3%	5.4%	-2.34%	7.38%	2.6%	-20.1%	-0.83%	-13.5%	-14%
ROIC	7.08%	6.25%	5.88%	10.1%	11.5%	15.9%	10%	6.99%	0%	18.2%	18.2%
Return on tangible assets	-9.93%	-20.2%	-628%	-15.8%	9.89%	-30.1%	-10.4%	232.1%	6.68%	531.9%	531.9%

Financial health

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Current ratio	1.34	1.5	1.21	1.06	1.14	0.97	1.05	1.38	1.41	1.21	1.21
Quick ratio	0.89	0.95	0.8	0.69	0.79	0.69	0.67	0.95	1.01	0.82	0.82
Debt / equity	1.23	1.29	0.85	1.28	1.49	1.86	2.44	13.1	12.2	-6.29	-0.06
Debt / assets	0.43	0.44	0.35	0.41	0.43	0.41	0.45	0.55	0.52	0.6	0.6
Net debt / EBITDA	3.25	3.15	3.85	3.62	3.79	2.88	3.48	5.42	4.73	4.37	4.37
Interest coverage	4.46	4.01	3.96	3.32	-0.66	3.58	2.36	-4.06	1.15	-1.76	-1.76
Effective tax rate	31.1%	29%	0%	6.8%	0%	0%	34%	0%	100%	0%	0%

Per share

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Revenue per share	19.3	23.2	23.4	30.5	31.7	34.1	34.8	31.9	28.2	—	—
EPS (basic)	1.35	1.03	2.71	1.45	-1.08	2.88	0.84	-6.83	-0.37	—	—
EPS (diluted)	1.35	1.03	2.7	1.45	-1.08	2.84	0.82	-6.83	-0.37	—	—
Book value per share	11.1	10.8	22.7	12.4	11.7	8.97	7.41	1.38	1.26	—	—
FCF per share	1.66	2.64	2.78	1.86	1.95	5.15	1.97	-0.31	1.49	—	7.21
Cash per share	0.92	0.74	2.03	1.41	1.59	1.94	1.46	3.36	2.9	—	—
Capex per share	0.46	0.51	0.46	0.6	0	0	0.13	1.85	0.54	—	—

Capital allocation

Metric	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	Current
Capex / revenue	2.38%	2.19%	1.96%	1.95%	0%	0%	0.38%	5.82%	1.91%	0.06%	0.06%
Capex / operating cash flow	27.4%	12.4%	11.1%	22.5%	0%	0%	5.53%	-33.3%	28.5%	-0.58%	-0.58%
Payout ratio	—	—	—	0%	0%	99.8%	119.5%	-0.47%	-8.51%	-0.32%	-0.32%
Dividend yield	—	—	—	0%	0%	27.4%	16.4%	1.94%	2.35%	—	—

Yield

—

trailing twelve months

Frequency

—

Last dividend

$1.25

ex-dividend Nov 12, 2021

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Nov 12, 2021	$1.25

Split history

Date	Ratio
Oct 15, 2014	1182:1000

Period	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24
Revenue	$2.9B	$3B	$2.7B	$3.5B	$2.6B	$2.6B	$2.5B	$3.1B	$2.3B	$2.4B	$2.3B	$2.9B
YoY change	-13.6%	-15.7%	-12.7%	-13.1%	-8.29%	-10.3%	-9.66%	-10.9%	-11.4%	-9.14%	-5.45%	-6.33%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24
Cash & short-term investments	438M	338M	903M	653M	673M	806M	587M	1.3B	1.1B	905M
Receivables	1.4B	1.3B	1.7B	1.8B	1.9B	1.6B	1.7B	1.4B	1.3B	1.1B
Inventory	945M	968M	1.4B	1.5B	1.4B	1.3B	1.6B	1.3B	1B	1.1B
Total current assets	2.8B	2.6B	4.2B	4.2B	4.6B	4.6B	4.4B	4.3B	3.7B	3.3B
Property, plant & equipment	—	—	1.4B	1.4B	1.2B	9M	383M	702M	726M	650M
Goodwill & intangibles	21.9B	20.7B	24.5B	23.9B	21.4B	21.2B	20.2B	13.7B	12.8B	9.5B
Total assets	15.1B	14.4B	24.1B	17.8B	17.3B	17B	16.2B	12.6B	11.4B	9.2B
Accounts payable	736M	789M	1.2B	1.2B	1.1B	1.3B	1.4B	976M	895M	776M
Short-term debt	358M	14M	996M	1.4B	1.6B	1.8B	1.3B	828M	642M	867M
Total current liabilities	2.1B	1.8B	3.4B	4B	4B	4.7B	4.2B	3.1B	2.6B	2.7B
Long-term debt	6.2B	6.4B	7.6B	6B	5.9B	5.2B	6B	6B	5.3B	4.7B
Total liabilities	9.8B	9.4B	14B	12.1B	12.3B	13.3B	13.2B	12B	10.9B	10.1B
Shareholders' equity	5.3B	5B	10.1B	5.7B	5B	3.7B	3B	525M	489M	-885M
Total debt	6.5B	6.4B	8.5B	7.4B	7.4B	6.9B	7.3B	6.9B	6B	5.6B
Net debt	6.1B	6B	7.6B	6.7B	6.7B	6.1B	6.7B	5.6B	4.8B	4.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24
Cash & short-term investments	608M	561M	624M	1.3B	1.3B	1.5B	1.1B	1.1B	1.1B	1.2B	873M	905M
Receivables	1.3B	1.1B	1B	1.4B	1.1B	931M	952M	1.3B	980M	897M	883M	1.1B
Inventory	1.8B	1.7B	1.7B	1.3B	1.3B	1.2B	1.2B	1B	1.1B	1.1B	1.3B	1.1B
Total current assets	4.2B	3.8B	3.6B	4.3B	3.9B	3.8B	3.5B	3.7B	3.4B	3.4B	3.2B	3.3B
Property, plant & equipment	—	—	—	702M	1.2B	1.1B	1.1B	726M	1.1B	1.1B	1.1B	650M
Goodwill & intangibles	20.1B	19.9B	13.6B	13.7B	13.8B	13.6B	13.4B	12.8B	12.7B	12.6B	12.6B	9.5B
Total assets	15.8B	15.2B	11.8B	12.6B	12.2B	11.8B	11.4B	11.4B	11B	10.9B	10.8B	9.2B
Accounts payable	1.2B	1B	977M	976M	819M	697M	813M	895M	789M	762M	839M	776M
Short-term debt	1.9B	1.1B	603M	828M	319M	710M	730M	642M	939M	856M	874M	867M
Total current liabilities	4.3B	3.4B	2.7B	3.1B	2.3B	2.4B	2.5B	2.6B	2.5B	2.5B	2.6B	2.7B
Long-term debt	5.2B	5.4B	5.3B	6B	6.4B	5.8B	5.4B	5.3B	5.2B	5.1B	4.8B	4.7B
Total liabilities	12.8B	12B	11.4B	12B	11.5B	11.1B	10.7B	10.9B	10.6B	10.5B	10.3B	10.1B
Shareholders' equity	3B	3.2B	348M	525M	691M	727M	693M	489M	351M	421M	479M	-885M
Total debt	7.1B	6.5B	5.9B	6.9B	6.7B	6.5B	6.1B	6B	6.1B	6B	5.7B	5.6B
Net debt	6.5B	5.9B	5.3B	5.6B	5.4B	5B	5B	4.8B	5B	4.7B	4.8B	4.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24
Net income	674M	775M	2B	823M	-405M	1.3B	421M	-2.5B	-94M	-1.3B
Depreciation & amortization	657M	874M	725M	637M	606M	562M	537M	481M	407M	383M
Stock-based compensation	60M	97M	123M	88M	71M	64M	72M	60M	53M	32M
Change in working capital	-487M	111M	80M	-152M	-19M	550M	-266M	-68M	259M	12M
Operating cash flow	796M	1.9B	1.8B	1.2B	24M	1.9B	976M	-2.1B	730M	-1B
Capital expenditure	-218M	-233M	-204M	-275M	0	0	54M	704M	208M	6M
Investing cash flow	-909M	908M	-499M	47M	-423M	33M	-70M	914M	289M	11M
Dividends paid	—	—	—	0	0	-1.3B	-503M	-12M	-8M	-4M
Share repurchases	-785M	-500M	-765M	-988M	-392M	-70M	-365M	0	0	—
Financing cash flow	-89M	-1.6B	-1B	-1.6B	-661M	-2.2B	-914M	-72M	-1B	-498M
Net change in cash	-202M	1.2B	310M	-307M	-1.1B	-275M	-8M	-1.3B	9M	-1.5B
Free cash flow	787M	1.2B	1.2B	858M	825M	2.1B	794M	-119M	576M	289M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24
Net income	13M	221M	-2.7B	-30M	33M	119M	12M	-258M	8M	32M	-15M	-1.3B
Depreciation & amortization	130M	134M	107M	110M	100M	104M	105M	98M	99M	96M	95M	93M
Stock-based compensation	15M	16M	15M	14M	16M	14M	10M	13M	16M	3M	3M	10M
Change in working capital	-1M	-82M	-15M	30M	152M	162M	24M	-79M	118M	71M	-86M	-91M
Operating cash flow	162M	330M	-2.7B	131M	328M	401M	188M	-197M	243M	146M	-24M	-1.4B
Capital expenditure	0	256M	445M	3M	198M	2M	2M	6M	6M	0	0	0
Investing cash flow	29M	324M	558M	3M	204M	80M	-4M	9M	11M	-2M	2M	0
Dividends paid	-10M	0	-1M	-1M	-7M	0	-1M	0	-4M	0	0	0
Share repurchases	0	0	0	0	—	—	—	—	—	—	—	—
Financing cash flow	229M	-395M	-405M	499M	-122M	-204M	-450M	-234M	-2M	-83M	-327M	-86M
Net change in cash	420M	259M	-2.6B	633M	410M	277M	-266M	-422M	252M	61M	-349M	-1.5B
Free cash flow	-224M	50M	-70M	125M	-76M	332M	84M	236M	-16M	202M	-33M	136M

QVC Group Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement