Fundamentals Hub
▼ FY 2025 Summary Analysis
Annual report ending Dec 31, 2025Overview and Growth
QVC Group, Inc. generated $9.23B of revenue in fiscal 2025, with net loss of $2.44B and an operating cash inflow of $274.00M. The $9.23B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line contracted 8.0% from $10.04B in fiscal 2024; this top-line contraction left the company with a smaller revenue base. The company reported diluted EPS of -$302.97, adding a shareholder-level measure to the absolute income figures considered below. At period end, total assets were $7.64B, framing the scale of the company’s operating and financing commitments. Asset turnover was 1.21x, relating the company’s annual revenue directly to the total assets reported at the period end.Profitability
Gross profit was $3.17B, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 34.3% of revenue, showing how much of the top line remained after direct costs. The reported operating result was an operating loss of $2.10B, reflecting costs that exceeded gross profit. The operating loss equaled 22.7% of revenue, showing the scale of the operating deficit relative to sales. After all below-operating-line items, the company recorded a net loss of $2.44B for the fiscal year. The net loss equaled 26.4% of revenue, showing the bottom-line deficit relative to the company’s sales base. Negative EBITDA totaled $1.70B, confirming that the earnings deficit remained before depreciation and amortization. Before income taxes, the company recorded a loss of $2.58B, bridging the operating result to the final net loss. Pretax margin was -28.0%, reflecting a pre-tax loss equal to 28.0% of revenue. The reported tax benefit was $185.00M, favorably bridging the pretax and after-tax results. Relative to total assets, the net loss represented 31.9%. The bottom-line deficit increased from $1.29B in fiscal 2024 to $2.44B.Liquidity and Capital Structure
Total assets were $7.64B, supported by $10.66B of liabilities and -$3.02B of shareholder equity. With total equity at -$3.02B, the company carried a negative book-capital position, increasing its reliance on liabilities and future earnings. Current assets were $4.22B against $6.67B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 0.63x, current liabilities exceeded current assets and placed pressure on the company’s near-term liquidity position. Reported cash and equivalents were $1.97B, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 29.5%, excluding receivables and other current assets. The equity-to-assets relationship was -39.5%, placing book capital against the total resource base. Liabilities represented 139.5% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 25.8%, a balance-sheet composition measure rather than a liquidity forecast. The asset base changed 17.3% from $9.24B in fiscal 2024, leaving current total assets lower year over year. Cash and equivalents were 117.9% higher than fiscal 2024 cash of $905.00M, showing the year-over-year change in liquid resources.Cash Flow and Earnings Quality
The company reported $274.00M of operating cash flow, a cash inflow that shows the cash generated by operations. Capital spending was $156.00M, absorbing part of the cash generated from operations before free cash flow. Capital expenditures represented 56.9% of operating cash flow, leaving the remainder available as free cash flow. After capital spending, free cash flow was $118.00M, leaving cash available for debt reduction, shareholder returns, or further investment. The free-cash-flow margin was 1.3%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 1.5%, comparing post-investment cash with the balance-sheet asset base.
Based on the annual report for the fiscal year ending Dec 31, 2025.
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