QVC, Inc. 6.250% Senior Secured (QVCC) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 | Q4'20 |
|---|
| Total Current Assets | 3.36B | 2.32B | 2.27B | 2.5B | 2.44B | 2.32B | 2.38B | 2.64B | 2.38B | 2.65B | 2.6B | 2.91B | 3.04B | 3.11B | 3.45B | 3.7B | 3.59B | 3.45B | 3.33B | 3.7B |
| Cash & Short-Term Investments | 1.33B | 330M | 295M | 297M | 297M | 315M | 311M | 307M | 279M | 649M | 421M | 357M | 517M | 413M | 522M | 510M | 628M | 737M | 638M | 682M |
| Cash Only | 1.33B | 330M | 295M | 297M | 297M | 315M | 311M | 307M | 279M | 649M | 421M | 357M | 517M | 413M | 522M | 510M | 628M | 737M | 638M | 682M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 829M | 821M | 832M | 1.05B | 872M | 884M | 969M | 1.19B | 934M | 919M | 1.03B | 1.22B | 957M | 1.11B | 1.27B | 1.42B | 1.14B | 1.16B | 1.21B | 1.51B |
| Days Sales Outstanding | 152.67 | 151.04 | 159.41 | 144.22 | 152.14 | 151.2 | 167.54 | 153.43 | 155.38 | 150.83 | 170.77 | 151.92 | 157.56 | 169.53 | 197.23 | 154.84 | 165.94 | 151.91 | 163.11 | 151.89 |
| Inventory | 1.02B | 1.01B | 1B | 0 | 1.11B | 950M | 956M | 860M | 1.02B | 933M | 1.03B | 1.03B | 1.39B | 1.41B | 1.47B | 1.35B | 1.48B | 1.21B | 1.17B | 1.12B |
| Days Inventory Outstanding | - | - | 287.46 | - | 297.13 | 252.37 | 254.14 | 164.78 | 261.7 | 233.89 | 251.92 | 182.41 | 331.51 | 319.83 | 343.25 | 220.99 | 334.53 | 250.61 | 243.13 | 171.83 |
| Other Current Assets | 186M | 159M | 145M | 1.16B | 17M | 15M | 15M | 117M | 13M | 9M | 9M | 155M | 44M | 9M | 9M | 232M | 9M | 8M | 8M | 104M |
| Total Non-Current Assets | 4.97B | 5.05B | 7.4B | 7.38B | 8.97B | 8.93B | 8.99B | 9.08B | 9.37B | 9.46B | 9.51B | 9.5B | 9.4B | 12.12B | 12.37B | 12.44B | 12.75B | 12.82B | 12.8B | 12.85B |
| Property, Plant & Equipment | 789M | 850M | 864M | 0 | 907M | 893M | 909M | 937M | 894M | 914M | 942M | 891M | 924M | 957M | 1.12B | 1.12B | 1.29B | 1.3B | 1.32B | 1.4B |
| Fixed Asset Turnover | 2.51x | 2.33x | 2.20x | - | 2.31x | 2.39x | 2.32x | 3.03x | 2.45x | 2.43x | 2.33x | 3.28x | 2.40x | 2.50x | 2.10x | 2.99x | 1.94x | 2.13x | 2.05x | 2.59x |
| Goodwill | 808M | 817M | 2.23B | 2.2B | 3.16B | 3.11B | 3.13B | 3.15B | 3.44B | 3.47B | 3.48B | 3.47B | 3.4B | 5.88B | 5.94B | 5.97B | 5.99B | 6B | 6B | 6.03B |
| Intangible Assets | 1.19B | 1.19B | 2.12B | 2.5B | 3.05B | 3.13B | 3.16B | 3.19B | 3.23B | 3.27B | 3.29B | 3.25B | 3.28B | 3.47B | 3.5B | 3.54B | 3.57B | 3.61B | 3.58B | 3.51B |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | -557M | -620M | 0 | 6.94B | 0 | 7.1B | 0 | 7.02B | -612M | -619M | -636M | -716M | -715M | -714M | 10M |
| Other Non-Current Assets | 2.18B | 2.2B | 2.19B | 2.68B | 1.32B | 1.79B | 1.79B | 1.8B | -5.77B | 1.8B | -5.91B | 1.89B | -5.8B | 1.81B | 1.81B | 1.81B | 1.89B | 1.91B | 1.9B | 1.9B |
| Total Assets | 8.33B | 7.38B | 9.68B | 9.89B | 11.41B | 11.24B | 11.38B | 11.72B | 11.75B | 12.1B | 12.12B | 12.4B | 12.44B | 15.23B | 15.82B | 16.14B | 16.34B | 16.27B | 16.13B | 16.56B |
| Asset Turnover | 0.24x | 0.27x | 0.20x | 0.27x | 0.18x | 0.19x | 0.19x | 0.24x | 0.19x | 0.18x | 0.18x | 0.24x | 0.18x | 0.16x | 0.15x | 0.21x | 0.15x | 0.17x | 0.17x | 0.22x |
| Asset Growth % | -26.98% | -34.39% | -14.95% | -15.62% | -2.9% | -7.11% | -6.14% | -5.51% | -5.59% | -20.53% | -23.41% | -23.15% | -23.86% | -6.42% | -1.91% | -2.52% | 15.83% | 13.12% | 12.8% | 10.93% |
| Total Current Liabilities | 1.32B | 1.33B | 1.4B | 2.23B | 2.19B | 2.07B | 2.08B | 2.25B | 1.96B | 1.86B | 1.54B | 2.02B | 1.95B | 2.04B | 2.81B | 2.47B | 2.5B | 2.47B | 2.47B | 2.84B |
| Accounts Payable | 612M | 586M | 624M | 722M | 783M | 694M | 742M | 838M | 765M | 623M | 713M | 832M | 833M | 875M | 1.09B | 1.27B | 1.05B | 969M | 965M | 1.13B |
| Days Payables Outstanding | - | - | 179.2 | -77.06 | 209.22 | 184.36 | 197.25 | 160.56 | 196.09 | 156.18 | 174.9 | 146.63 | 199.24 | 198.62 | 254.17 | 207.29 | 236.79 | 201.53 | 200.36 | 173.06 |
| Short-Term Debt | 1M | 1M | 0 | 585M | 585M | 585M | 585M | 423M | 423M | 422M | 0 | 214M | 215M | 0 | 750M | 1M | 549M | 507M | 441M | 392M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2M | 577M | 580M | -225M | 0 | 636M | 0 | 0 | 0 | 711M |
| Other Current Liabilities | 709M | 739M | 776M | 899M | 127M | 104M | 52M | 51M | 49M | 59M | 696M | 67M | 576M | 596M | 606M | 365M | 457M | 481M | 479M | 773M |
| Current Ratio | 2.54x | 1.75x | 1.62x | 1.12x | 1.11x | 1.12x | 1.15x | 1.17x | 1.22x | 1.42x | 1.69x | 1.44x | 1.56x | 1.52x | 1.23x | 1.50x | 1.44x | 1.40x | 1.35x | 1.30x |
| Quick Ratio | 1.77x | 0.99x | 0.91x | 1.12x | 0.60x | 0.66x | 0.69x | 0.79x | 0.70x | 0.92x | 1.02x | 0.93x | 0.85x | 0.83x | 0.71x | 0.95x | 0.85x | 0.91x | 0.88x | 0.91x |
| Cash Conversion Cycle | - | - | 267.68 | - | 240.05 | 219.21 | 224.43 | 157.65 | 221 | 228.54 | 247.79 | 187.69 | 289.83 | 290.74 | 286.32 | 168.54 | 263.68 | 200.99 | 205.88 | 150.66 |
| Total Non-Current Liabilities | 5.75B | 4.79B | 4.94B | 4.29B | 4.52B | 4.84B | 4.99B | 5.13B | 5.2B | 5.63B | 6.11B | 5.82B | 5.26B | 5.53B | 5.42B | 5.95B | 5.57B | 5.57B | 5.57B | 5.58B |
| Long-Term Debt | 466M | 474M | 472M | 3.31B | 3.4B | 3.69B | 3.76B | 3.91B | 4.05B | 4.48B | 4.96B | 0 | 4.16B | 4.57B | 4.38B | 4.89B | 4.41B | 4.4B | 4.4B | 4.4B |
| Capital Lease Obligations | 0 | 0 | 0 | 475M | 489M | 483M | 488M | 489M | 435M | 442M | 447M | 379M | 383M | 233M | 301M | 314M | 326M | 328M | 334M | 345M |
| Deferred Tax Liabilities | 178M | 167M | 397M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 577M | 580M | 0 | 619M | 636M | 716M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 5.11B | 4.14B | 4.07B | 499M | 630M | 663M | 734M | 733M | 720M | 703M | 702M | 718M | 713M | 728M | 732M | 750M | 842M | 839M | 835M | 837M |
| Total Liabilities | 7.07B | 6.11B | 6.34B | 6.52B | 6.71B | 6.91B | 7.07B | 7.38B | 7.16B | 7.48B | 7.66B | 7.83B | 7.21B | 7.58B | 8.23B | 8.42B | 8.07B | 8.04B | 8.04B | 8.42B |
| Total Debt | 467M | 475M | 472M | 4.4B | 4.47B | 4.76B | 4.84B | 4.85B | 4.91B | 5.39B | 5.41B | 5.31B | 4.76B | 4.81B | 5.43B | 5.2B | 5.32B | 5.28B | 5.22B | 5.14B |
| Net Debt | -861M | 145M | 177M | 4.1B | 4.17B | 3.96B | 4.53B | 4.54B | 4.63B | 4.74B | 4.99B | 4.96B | 4.25B | 4.39B | 4.91B | 4.69B | 4.69B | 4.54B | 4.58B | 4.46B |
| Debt / Equity | 0.37x | 0.38x | 0.14x | 1.31x | 0.95x | 1.10x | 1.12x | 1.12x | 1.07x | 1.17x | 1.21x | 1.16x | 0.91x | 0.63x | 0.72x | 0.67x | 0.64x | 0.64x | 0.64x | 0.63x |
| Debt / EBITDA | 2.48x | - | 2.16x | - | 20.33x | 21.85x | 22.82x | - | 22.71x | 24.50x | 30.73x | 25.42x | 28.51x | 17.48x | 18.49x | 10.49x | 13.31x | 10.60x | 11.30x | 8.09x |
| Net Debt / EBITDA | -4.58x | - | 0.81x | - | 18.98x | 18.19x | 21.35x | - | 21.42x | 21.55x | 28.34x | 23.71x | 25.42x | 15.97x | 16.71x | 9.46x | 11.74x | 9.12x | 9.92x | 7.02x |
| Interest Coverage | 1.38x | -36.06x | 2.07x | -20.88x | 2.65x | 2.43x | 2.52x | -1.85x | 2.44x | - | 2.97x | 2.68x | 2.04x | - | 3.42x | 9.98x | 4.58x | 6.49x | 6.15x | 2.85x |
| Total Equity | 1.25B | 1.26B | 3.34B | 3.37B | 4.7B | 4.33B | 4.31B | 4.34B | 4.59B | 4.62B | 4.46B | 4.57B | 5.23B | 7.65B | 7.59B | 7.72B | 8.27B | 8.23B | 8.09B | 8.13B |
| Equity Growth % | -73.3% | -70.84% | -22.58% | -22.32% | 2.42% | -6.17% | -3.47% | -5.14% | -12.22% | -39.66% | -41.19% | -40.78% | -36.77% | -7.07% | -6.2% | -5.09% | 26.29% | 19.51% | 19.14% | 19.56% |
| Book Value per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Shareholders' Equity | 1.17B | 1.18B | 3.26B | 3.29B | 4.63B | 4.25B | 4.23B | 4.25B | 4.5B | 4.53B | 4.37B | 4.48B | 5.13B | 7.55B | 7.47B | 7.6B | 8.14B | 8.11B | 7.97B | 8B |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -9.79B | -9.79B | -7.62B | -7.54B | -6.3B | -6.31B | -6.35B | -6.36B | -6.04B | -6.05B | -6.16B | -6.08B | -5.02B | -2.75B | -2.97B | -2.94B | -2.51B | -2.56B | -2.68B | -2.72B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -251M | -236M | -324M | -370M | -269M | -353M | -328M | -290M | -351M | -308M | -291M | -312M | -451M | -330M | -200M | -146M | -118M | -84M | -95M | -17M |
| Minority Interest | 86M | 80M | 78M | 76M | 71M | 79M | 81M | 87M | 86M | 89M | 95M | 95M | 99M | 105M | 116M | 122M | 125M | 126M | 125M | 133M |