Estados financieros detallados de QVC Group Inc. (QVCGA): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
QVC Group Inc. registró ingresos de $9.23B en el último ejercicio fiscal, con un CAGR de 5 años del -8.2%.
Márgenes de los últimos 12 meses: margen bruto 31.3%, margen operativo -22.7%, margen neto -26.4%. El flujo de caja libre creció a un CAGR del -58.9% en 5 años.
Al precio actual de $0.34, QVCGA presenta beneficios negativos (P/E no significativo) y un ROE del 96.28%. La capitalización bursátil es de $3M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $10.65B | $10.40B | $14.07B | $13.46B | $14.18B | $14.04B | $12.11B | $10.91B | $10.04B | $9.23B |
| Coste de Ventas | $6.91B | $6.79B | $9.21B | $8.90B | $9.29B | $9.23B | $8.42B | $7.23B | $6.52B | $6.06B |
| Beneficio Bruto | $3.74B | $3.62B | $4.86B | $4.56B | $4.89B | $4.81B | $3.69B | $3.69B | $3.51B | $3.17B |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $1.19B | $1.19B | $1.90B | 0 | $2.75B | $2.81B | $2.78B | $2.66B | $2.44B | $1.74B |
| Gastos Operativos | $2.77B | $2.57B | $3.54B | $4.38B | $3.31B | $3.73B | $5.73B | $3.10B | $4.32B | $2.81B |
| Beneficio Operativo | $968.0M | $1.04B | $1.32B | $184.0M | $1.57B | $1.09B | -$2.04B | $590.0M | -$809.0M | $357.0M |
| EBITDA | $2.33B | $2.13B | $1.90B | $1.96B | $2.02B | $1.99B | $1.08B | $931.0M | $1.07B | -$1.69B |
| Gastos por Intereses | $363.0M | $355.0M | $381.0M | $374.0M | $408.0M | $468.0M | $456.0M | $451.0M | $468.0M | $496.0M |
| Beneficio Antes de Impuestos | $1.09B | $1.05B | $883.0M | -$188.0M | $1.05B | $638.0M | -$2.31B | $66.0M | -$1.29B | -$2.58B |
| Impuestos | $316.0M | -$985.0M | $60.0M | $217.0M | -$203.0M | $217.0M | $224.0M | $160.0M | -$41.0M | -$185.0M |
| Beneficio Neto | $1.24B | $2.44B | $916.0M | -$456.0M | $1.20B | $340.0M | -$2.59B | -$145.0M | -$1.29B | -$2.44B |
| BPA | $51.60 | $274.27 | $99.13 | $-53.77 | $143.75 | $42.00 | $-341.32 | $-18.73 | $-162.88 | $-302.97 |
| BPA Diluido | $51.60 | $272.43 | $98.49 | $-53.77 | $142.00 | $41.00 | $-341.50 | $-18.73 | $-162.88 | $-302.97 |
| Acciones en Circulación (Diluidas) | $9.2M | $9.0M | $9.3M | $8.5M | $8.4M | $8.3M | $7.7M | $7.8M | $7.9M | $8.1M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 |
|---|
| Ingresos | $2.10B | $2.24B | $2.21B | $2.68B |
| Beneficio Bruto | $719.0M | $814.0M | $752.0M | $608.0M |
| Beneficio Operativo | $14.0M | -$2.27B | $60.0M | $106.0M |
| EBITDA | $173.0M | $242.0M | $180.0M | $194.0M |
| Beneficio Neto | -$100.0M | -$2.22B | -$80.0M | -$37.0M |
| BPA | $-12.50 | $-275.41 | $-9.92 | $-4.58 |
| BPA Diluido | $-12.50 | $-275.41 | $-9.92 | $-4.58 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $338.0M | $903.0M | $653.0M | $673.0M | $806.0M | $587.0M | $1.27B | $1.12B | $905.0M | $1.97B |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $1.27B | $1.73B | $1.83B | $2.06B | $1.99B | $2.00B | $1.44B | $1.31B | $1.14B | $1.04B |
| Inventario | $968.0M | $1.41B | $1.47B | $1.41B | $1.30B | $1.62B | $1.35B | $1.04B | $1.06B | $972.0M |
| Activos Corrientes | $2.64B | $4.17B | $4.19B | $4.58B | $4.57B | $4.45B | $4.28B | $3.68B | $3.30B | $4.22B |
| Inmovilizado Material | $1.13B | $1.34B | $1.32B | $1.35B | $1.30B | $1.38B | $1.16B | $1.15B | $1.10B | $971.0M |
| Fondo de Comercio | $6.05B | $7.08B | $7.02B | $6.58B | $6.64B | $6.34B | $3.50B | $3.16B | $2.22B | $800.0M |
| Activos Intangibles | $4.31B | $5.18B | $4.95B | $4.12B | $3.95B | $3.78B | $3.33B | $3.22B | $2.52B | $1.53B |
| Activos Totales | $14.36B | $24.12B | $17.84B | $17.30B | $17.00B | $16.20B | $12.57B | $11.37B | $9.24B | $7.64B |
| Cuentas por Pagar | $789.0M | $1.15B | $1.20B | $1.09B | $1.30B | $1.43B | $976.0M | $895.0M | $776.0M | $701.0M |
| Deuda a Corto | $14.0M | $996.0M | $1.41B | $1.56B | $1.75B | $1.31B | $828.0M | $642.0M | $867.0M | $5.08B |
| Pasivos Corrientes | $1.76B | $3.44B | $3.95B | $4.00B | $4.70B | $4.22B | $3.10B | $2.62B | $2.72B | $6.67B |
| Deuda a Largo | $6.36B | $7.55B | $5.96B | $5.86B | $5.19B | $5.67B | $5.53B | $4.70B | $4.10B | $790.0M |
| Pasivos Totales | $9.40B | $14.04B | $12.10B | $12.33B | $13.27B | $13.22B | $12.05B | $10.88B | $10.13B | $10.66B |
| Reservas | $7.03B | $9.07B | $5.67B | $4.89B | $3.52B | $2.92B | $337.0M | $196.0M | -$1.09B | -$3.53B |
| Patrimonio Neto | $6.77B | $9.98B | $5.62B | $4.84B | $3.60B | $2.85B | $412.0M | $385.0M | -$971.0M | -$3.10B |
| Deuda Total | $6.38B | $8.55B | $7.37B | $8.01B | $7.49B | $7.29B | $6.87B | $5.96B | $5.57B | $6.45B |
| Deuda Neta | $6.04B | $7.65B | $6.72B | $7.33B | $6.68B | $6.71B | $5.60B | $4.83B | $4.66B | $4.47B |
| Capital Circulante | $882.0M | $724.0M | $235.0M | $575.0M | -$139.0M | $224.0M | $1.18B | $1.06B | $575.0M | -$2.45B |
Balance (Trimestral)
| Año | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 |
|---|
| Caja y Equivalentes | $833.0M | $927.0M | $1.86B | $1.97B |
| Activos Totales | $8.98B | $6.70B | $7.56B | $7.64B |
| Pasivos Totales | $9.87B | $9.59B | $10.54B | $10.66B |
| Patrimonio Neto | -$981.0M | -$2.98B | -$3.07B | -$3.10B |
| Deuda Total | $5.59B | $6.78B | $7.75B | $6.45B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $775.0M | $2.04B | $823.0M | -$405.0M | $1.25B | $421.0M | -$2.53B | -$94.0M | -$1.25B | -$2.40B |
| Amortizaciones | $874.0M | $725.0M | $637.0M | $606.0M | $562.0M | $537.0M | $481.0M | $407.0M | $383.0M | $398.0M |
| Compensación en Acciones | $97.0M | $123.0M | $88.0M | $71.0M | $64.0M | $72.0M | $60.0M | $53.0M | $32.0M | $16.0M |
| Cambio en Capital Circulante | $19.0M | $80.0M | -$241.0M | -$337.0M | $826.0M | -$282.0M | -$269.0M | $110.0M | $31.0M | -$58.0M |
| Flujo de Caja Operativo | $1.44B | $1.49B | $1.27B | $1.28B | $2.46B | $1.23B | $194.0M | $919.0M | $525.0M | $274.0M |
| Inversiones (CapEx) | -$233.0M | -$255.0M | -$415.0M | -$459.0M | -$313.0M | -$431.0M | -$313.0M | -$343.0M | -$236.0M | -$249.0M |
| Adquisiciones | -$86.0M | -$137.0M | -$100.0M | -$141.0M | -$119.0M | -$202.0M | $704.0M | -$41.0M | $6.0M | 0 |
| Recompra de Acciones | -$500.0M | -$765.0M | -$988.0M | -$392.0M | -$70.0M | -$365.0M | -$7.0M | -$1.0M | -$2.0M | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | -$1.25B | -$503.0M | -$12.0M | -$8.0M | -$4.0M | -$1.0M |
| Flujo de Caja Libre | $1.21B | $1.24B | $858.0M | $825.0M | $2.14B | $794.0M | -$119.0M | $576.0M | $289.0M | $25.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 |
|---|
| Flujo de Caja Operativo | -$60.0M | $86.0M | $4.0M | $244.0M |
| Inversiones (CapEx) | -$77.0M | -$38.0M | -$31.0M | -$57.0M |
| Flujo de Caja Libre | -$137.0M | $48.0M | -$27.0M | $187.0M |
| Dividendos Pagados | -$1.0M | 0 | 0 | 0 |
| Compensación en Acciones | $4.0M | 0 | 0 | $1.0M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -2.3% | +35.2% | -4.3% | +5.3% | -0.9% | -13.8% | -9.8% | -8.0% | -8.0% |
| Crecimiento Beneficio Neto (anual) | | +97.7% | -62.5% | -149.8% | +362.3% | -71.6% | -862.9% | +94.4% | -789.7% | -89.1% |
| Crecimiento BPA (anual) | | +431.5% | -63.9% | -154.2% | +367.3% | -70.8% | -912.7% | +94.5% | -769.6% | -86.0% |
| Cambio en Acciones (anual) | | -2.3% | +3.8% | -8.8% | -0.7% | -1.4% | -7.7% | +1.3% | +2.1% | +1.7% |
| Crecimiento FCF (anual) | | +2.1% | -30.5% | -3.8% | +159.6% | -62.9% | -115.0% | +584.0% | -49.8% | -91.3% |
| Margen Bruto | 35.1% | 34.7% | 34.5% | 33.9% | 34.5% | 34.3% | 30.5% | 33.8% | 35.0% | 34.3% |
| Margen Operativo | 9.1% | 10.0% | 9.4% | 1.4% | 11.1% | 7.7% | -16.9% | 5.4% | -8.1% | 3.9% |
| Margen EBITDA | 21.9% | 20.5% | 13.5% | 14.5% | 14.3% | 14.1% | 8.9% | 8.5% | 10.7% | -18.3% |
| Margen Neto | 11.6% | 23.5% | 6.5% | -3.4% | 8.4% | 2.4% | -21.4% | -1.3% | -12.9% | -26.4% |
| Margen FCF | 11.4% | 11.9% | 6.1% | 6.1% | 15.1% | 5.7% | -1.0% | 5.3% | 2.9% | 0.3% |
| Tasa Impositiva Efectiva | 29.0% | -93.8% | 6.8% | -115.4% | -19.3% | 34.0% | -9.7% | 242.4% | 3.2% | 7.2% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $131.99 | $137.83 | $92.26 | $97.29 | $254.39 | $95.66 | $-15.54 | $74.23 | $36.49 | $3.11 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $148.57 | $60.60 | $1.57 | $1.03 | $0.51 | $0.12 |
| Acciones en Circulación (Básicas) | $9.2M | $8.9M | $9.2M | $8.5M | $8.3M | $8.1M | $7.6M | $7.7M | $7.9M | $8.1M |
Qué mirar en empresas de Consumer Cyclical
- Margen operativo medio 5a (Media del ciclo) — Mira la media del ciclo, no el año actual (pico o valle).
- Rotación de inventario (≥4x/año) — El retail sano rota inventario rápido. Una caída señala demanda débil.
- ROIC medio 5a (≥12%) — Cíclicas con ROIC medio >12% son ganadoras estructurales.
- Deuda neta / EBITDA (pico) (<3x en valle) — En cíclicas la deuda mata en recesión.
- Current Ratio (>1,5x) — Aguanta 12-18 meses sin caja operativa.
- Altman Z-Score (>2,99 seguro) — Modelo de bancarrota — clave en cíclicas sensibles a recesión.
Rentabilidad
| Rentabilidad sobre capital | 96.28% |
| Rentabilidad sobre capital invertido | -32.15% |
| Rentabilidad sobre activos | -31.91% |
| Margen bruto | 31.34% |
| Margen operativo | -22.66% |
| Margen neto | -26.42% |
Salud financiera
| Deuda / Patrimonio | -2.08 |
| Ratio corriente | 0.63 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 0.38 | 0.07 | 0.20 | -0.36 | 0.14 | 0.46 | -0.06 | -1.04 | -0.12 | -0.03 |
| P/VC | 0.03 | 0.02 | 0.03 | 0.03 | 0.05 | 0.06 | 0.36 | 0.39 | -0.16 | -0.03 |
| P/V | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 |
| Margen Bruto | 35.1% | 34.7% | 34.5% | 33.9% | 34.5% | 34.3% | 30.5% | 33.8% | 35.0% | 34.3% |
| Margen Operativo | 9.1% | 10.0% | 9.4% | 1.4% | 11.1% | 7.7% | -16.9% | 5.4% | -8.1% | 3.9% |
| Margen Neto | 11.6% | 23.5% | 6.5% | -3.4% | 8.4% | 2.4% | -21.4% | -1.3% | -12.9% | -26.4% |