QVC, Inc. 6.250% Senior Secured (QVCC) quarterly cash flow statement — complete operating, investing & financing 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 |
|---|
| Cash from Operations | 76M | 52M | 46M | 189M | 98M | 164M | 84M | 330M | 173M | 414M | 177M | 232M | 133M | 62M | -18M | 491M | 33M | 398M | 247M | 554M |
| Operating CF Margin % | 3.83% | 2.62% | 2.41% | 7.11% | 4.68% | 7.69% | 3.98% | 11.63% | 7.89% | 18.62% | 8.07% | 7.93% | 6% | 2.59% | -0.76% | 14.65% | 1.31% | 14.32% | 9.11% | 15.31% |
| Operating CF Growth % | -22.45% | -68.29% | -45.24% | -42.73% | -43.35% | -60.39% | -52.54% | 42.24% | 30.08% | 567.74% | 1083.33% | -52.75% | 303.03% | -84.42% | -107.29% | -11.37% | -93.41% | -54.2% | -20.32% | 82.24% |
| Net Income | 20M | -2.15B | -42M | -190M | 116M | 53M | 51M | 159M | 51M | 213M | 122M | 47M | -2.23B | 270M | 42M | 180M | 145M | 240M | 222M | 323M |
| Depreciation & Amortization | 97M | 98M | 95M | -614M | 87M | 88M | 56M | 91M | 98M | 63M | 63M | 67M | 65M | 75M | 82M | 87M | 84M | 76M | 81M | 87M |
| Stock-Based Compensation | 6M | 4M | 4M | -2M | 1M | 2M | 12M | 10M | 7M | 11M | 9M | 9M | 9M | 10M | 8M | 11M | 13M | 11M | 9M | 11M |
| Deferred Taxes | 8M | -232M | 2M | 397M | -90M | 0 | 1M | 53M | 111M | -207M | 43M | -22M | -25M | 0 | -14M | -80M | -1M | -1M | 3M | -26M |
| Other Non-Cash Items | -55M | 2.34B | -13M | 602M | 3M | -9M | -25M | 153M | 85M | -97M | -161M | 57M | 2.24B | -323M | -170M | 293M | 139M | 54M | -106M | 181M |
| Working Capital Changes | 0 | 0 | 0 | -4M | -19M | 30M | -11M | -136M | -179M | 224M | 144M | 52M | 47M | 30M | 20M | -80M | -348M | 17M | 41M | -48M |
| Change in Receivables | 0 | 0 | 0 | -268M | 16M | 83M | 311M | -340M | -22M | 101M | 299M | -338M | 66M | 49M | 367M | -372M | 11M | 54M | 378M | -489M |
| Change in Inventory | -8M | 7M | -92M | 193M | -150M | 4M | -100M | 172M | -96M | 95M | 13M | 378M | -1M | 38M | -119M | -14M | -281M | -33M | -60M | 164M |
| Change in Payables | 28M | -51M | -106M | 0 | 32M | 0 | 0 | 0 | 0 | 0 | -129M | -28M | -31M | 0 | -178M | 226M | -70M | -1.2B | -151M | 54M |
| Cash from Investing | -30M | -84M | -74M | -69M | -46M | -62M | -29M | -64M | -38M | -70M | 125M | -91M | 483M | 264M | -18M | 29M | -58M | -168M | -58M | -98M |
| Capital Expenditures | -25M | -33M | -30M | 118M | -37M | -49M | -32M | -66M | -37M | -39M | -40M | -81M | -54M | -47M | -34M | -65M | -51M | -53M | -41M | -78M |
| CapEx % of Revenue | 1.26% | 1.66% | 1.57% | 4.44% | 1.77% | 2.3% | 1.52% | 2.33% | 1.69% | 1.75% | 1.82% | 2.77% | 2.44% | 1.96% | 1.44% | 1.94% | 2.03% | 1.91% | 1.51% | 2.16% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -5M | -51M | -44M | -187M | -9M | -13M | 3M | 2M | -1M | -31M | 165M | -10M | 537M | 311M | 16M | 94M | -7M | -115M | -17M | -20M |
| Cash from Financing | 973M | 63M | 15M | -102M | -91M | -89M | -39M | -249M | -491M | -105M | -243M | -325M | -492M | -409M | 61M | -630M | -78M | -133M | -216M | -363M |
| Debt Issued (Net) | 0 | 0 | 0 | 55M | -298M | -70M | 15M | -138M | -436M | 8M | -32M | 812M | -439M | -381M | 192M | 325M | -8M | -6M | -8M | -6M |
| Equity Issued (Net) | 0 | 0 | 0 | 1000K | 0 | 0 | -1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1000K | 1000K | -1000K | -1000K | -1000K | 0 |
| Dividends Paid | 0 | 0 | -42M | -91M | -41M | -8M | -42M | -93M | -44M | -101M | -199M | -1.11B | -41M | -9M | -112M | -570M | -92M | -124M | -177M | -339M |
| Share Repurchases | 0 | 0 | 0 | -1M | 1M | 0 | -1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5M | 1M | -1M | -2M | -15M | 0 |
| Other Financing | 973M | 63M | 57M | -67M | 248M | -11M | -11M | -18M | -11M | -12M | -12M | -29M | -12M | -19M | -14M | -386M | 23M | -1M | -16M | -18M |
| Net Change in Cash | 1.01B | 46M | -1M | 1M | -16M | 4M | 4M | 30M | -366M | 228M | 63M | -159M | 104M | -109M | 12M | -118M | -108M | 99M | -44M | 108M |
| Free Cash Flow | 51M | 19M | 16M | -228M | 61M | 115M | 52M | 264M | 136M | 375M | 137M | 151M | 79M | 15M | -52M | 426M | -18M | 345M | 206M | 476M |
| FCF Margin % | 2.57% | 0.96% | 0.84% | -8.57% | 2.92% | 5.39% | 2.46% | 9.3% | 6.2% | 16.86% | 6.25% | 5.16% | 3.56% | 0.63% | -2.21% | 12.71% | -0.72% | 12.41% | 7.6% | 13.15% |
| FCF Growth % | -16.39% | -83.48% | -69.23% | -186.36% | -55.15% | -69.33% | -62.04% | 74.83% | 72.15% | 2400% | 363.46% | -64.55% | 538.89% | -95.65% | -125.24% | -10.5% | -103.97% | -57.72% | -23.99% | 100% |
| FCF per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| FCF Conversion (FCF/Net Income) | 1.85x | -0.02x | -1.10x | -0.15x | 1.92x | 3.09x | 1.65x | -1.45x | 3.39x | 1.94x | 1.45x | 4.94x | -0.06x | 0.23x | -0.43x | 2.73x | 0.23x | 1.66x | 1.11x | 1.72x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |