QVC Inc (QVCD) Financial Statements
Industry: Catalog & Mail-Order Houses (Retail)
In fiscal 2025, QVC reported revenue of $8.29B, down 7.8% from $9.00B the year before. Net income was -$2.17B (a -26.1% net margin). Gross margin was 33.6% and operating margin was -24.3%. Operating activities generated $419.0M of cash, leaving $287.0M of free cash flow. At fiscal year end, QVC held $8.46B in total assets against $7.19B in total liabilities, including $1.50B of cash and equivalents.
Open the full interactive QVC financials → Quarterly statements, key ratios, valuation history and price charts.
QVC Key Stats
| Share Price | $11.18 |
|---|---|
| Revenue YoY Growth | -7.8% |
| 52-Week Range | $11.18 – $19.49 |
QVC Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $11.47B | $11.35B | $9.89B | $9.45B | $9.00B | $8.29B |
| Cost of Goods Sold | $7.42B | $7.37B | $6.85B | $6.27B | $5.91B | $5.50B |
| Gross Profit | $4.05B | $3.99B | $3.04B | $3.18B | $3.09B | $2.79B |
| Operating Income | $1.57B | $1.51B | -$1.40B | $645.0M | -$770.0M | -$2.02B |
| Pre-Tax Income | $1.25B | $1.26B | -$1.59B | $416.0M | -$1.02B | -$2.28B |
| Income Tax | $337.0M | $408.0M | $220.0M | $205.0M | $3.0M | -$153.0M |
| Net Income | $852.0M | $787.0M | -$1.87B | $159.0M | -$1.07B | -$2.17B |
QVC Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $1.98B | $2.42B | $1.77B | $1.76B |
| Net Income | $2.0M | $37.0M | -$25.0M | -$31.0M |
QVC Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $682.0M | $510.0M | $357.0M | $307.0M | $297.0M | $1.50B |
| Current Assets | $3.70B | $3.70B | $2.91B | $2.64B | $2.50B | $3.56B |
| Total Assets | $16.56B | $16.19B | $12.40B | $11.72B | $9.89B | $8.46B |
| Current Liabilities | $2.84B | $2.47B | $2.02B | $2.25B | $2.23B | $6.47B |
| Total Long-Term Debt | $4.96B | $5.04B | $4.94B | $4.33B | $3.90B | $5.02B |
| Total Liabilities | $8.42B | $8.42B | $7.83B | $7.38B | $6.52B | $7.19B |
| Shareholders' Equity | $8.00B | $7.64B | $4.48B | $4.25B | $3.29B | $1.20B |
QVC Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $2.23B | $1.17B | $409.0M | $1.09B | $535.0M | $419.0M |
| Cash From Investing | -$279.0M | -$255.0M | $638.0M | -$47.0M | -$206.0M | -$221.0M |
| Cash From Financing | -$1.85B | -$1.06B | -$1.17B | -$1.09B | -$321.0M | $1.03B |
| Free Cash Flow | $2.02B | $959.0M | $193.0M | $912.0M | $362.0M | $287.0M |
Figures from QVC's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full QVC financials page for every line item.
QVC Company Profile
| Ticker | QVCD |
|---|---|
| Exchange | Nasdaq |
| Industry | Catalog & Mail-Order Houses (Retail) |
| Headquarters | West Chester, Pennsylvania |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer |
| SEC CIK | 0001254699 |
Frequently Asked Questions
What was QVC's revenue in fiscal 2025?
QVC (QVCD) reported revenue of $8.29B for fiscal 2025.
What is QVC's annual revenue history?
QVC's annual revenue by fiscal year: 2020: $11.47B; 2021: $11.35B; 2022: $9.89B; 2023: $9.45B; 2024: $9.00B; 2025: $8.29B.
What was QVC's net income in fiscal 2025?
QVC reported net income of -$2.17B for fiscal 2025.
How much free cash flow did QVC generate in fiscal 2025?
QVC generated $287.0M of free cash flow in fiscal 2025.
What was QVC's revenue last quarter?
In its most recent reported quarter (2026 Q2), QVC reported revenue of $1.76B.
How much debt does QVC have?
QVC reported $5.02B of long-term debt, including the current portion, at the end of fiscal 2025.
When does QVC's fiscal year end?
QVC's fiscal year end, as registered with the SEC, is December 31.
Where is QVC headquartered?
QVC lists its business address in West Chester, Pennsylvania in its SEC filings.