QVC Group annual operating margin
2011
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2024
2025
QVC Group Operating Margin Growth & History (QVCG)
QVC Group's operating margin was −24.32% for fiscal 2025.
View full QVC Group company overviewQVC Group annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | −24.32% | −15.76 pp |
| 2024 | 2024-12-31 | −8.56% | −15.38 pp |
| 2023 | 2023-12-31 | 6.83% | +20.98 pp |
| 2022 | 2022-12-31 | −14.15% | −27.42 pp |
| 2021 | 2021-12-31 | 13.27% | −0.39 pp |
| 2020 | 2020-12-31 | 13.66% | +1.58 pp |
| 2019 | 2019-12-31 | 12.08% | −1.32 pp |
| 2018 | 2018-12-31 | 13.40% | −1.52 pp |
| 2017 | 2017-12-31 | 14.92% | +1.07 pp |
| 2016 | 2016-12-31 | 13.86% | −0.73 pp |
| 2015 | 2015-12-31 | 14.58% | +0.05 pp |
| 2014 | 2014-12-31 | 14.53% | +0.09 pp |
| 2013 | 2013-12-31 | 14.44% | −0.45 pp |
| 2012 | 2012-12-31 | 14.89% | +1.14 pp |
| 2011 | 2011-12-31 | 13.75% | — |
QVC Group quarterly operating margin
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q3.13
Q4.13
Q1.14
Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 3.51% | +118.03 pp |
| Q1 2026 | 2026-03-31 | 3.17% | +1.64 pp |
| Q4 2025 | 2025-12-31 | 5.57% | +52.72 pp |
| Q3 2025 | 2025-09-30 | 4.59% | −3.25 pp |
| Q2 2025 | 2025-06-30 | −114.52% | −122.15 pp |
| Q1 2025 | 2025-03-31 | 1.52% | −5.91 pp |
| Q4 2024 | 2024-12-31 | −47.14% | −43.16 pp |
| Q3 2024 | 2024-09-30 | 7.84% | +0.82 pp |
| Q2 2024 | 2024-06-30 | 7.64% | −9.18 pp |
| Q1 2024 | 2024-03-31 | 7.44% | −3.05 pp |
| Q4 2023 | 2023-12-31 | −3.98% | −7.85 pp |
| Q3 2023 | 2023-09-30 | 7.02% | +101.02 pp |
| Q2 2023 | 2023-06-30 | 16.82% | −1.66 pp |
| Q1 2023 | 2023-03-31 | 10.49% | +4.97 pp |
| Q4 2022 | 2022-12-31 | 3.86% | −7.71 pp |
| Q3 2022 | 2022-09-30 | −94.00% | −106.58 pp |
| Q2 2022 | 2022-06-30 | 18.48% | +3.30 pp |
| Q1 2022 | 2022-03-31 | 5.52% | −8.54 pp |
| Q4 2021 | 2021-12-31 | 11.58% | −3.01 pp |
| Q3 2021 | 2021-09-30 | 12.58% | −1.77 pp |
| Q2 2021 | 2021-06-30 | 15.18% | +1.19 pp |
| Q1 2021 | 2021-03-31 | 14.06% | +2.93 pp |
| Q4 2020 | 2020-12-31 | 14.59% | +5.76 pp |
| Q3 2020 | 2020-09-30 | 14.35% | +1.18 pp |
| Q2 2020 | 2020-06-30 | 13.99% | −0.53 pp |
| Q1 2020 | 2020-03-31 | 11.12% | −1.91 pp |
| Q4 2019 | 2019-12-31 | 8.83% | −4.14 pp |
| Q3 2019 | 2019-09-30 | 13.18% | +1.31 pp |
| Q2 2019 | 2019-06-30 | 14.52% | −0.74 pp |
| Q1 2019 | 2019-03-31 | 13.03% | −0.65 pp |
| Q4 2018 | 2018-12-31 | 12.97% | −3.29 pp |
| Q3 2018 | 2018-09-30 | 11.87% | −1.76 pp |
| Q2 2018 | 2018-06-30 | 15.26% | −0.20 pp |
| Q1 2018 | 2018-03-31 | 13.68% | −0.11 pp |
| Q4 2017 | 2017-12-31 | 16.26% | +1.06 pp |
| Q3 2017 | 2017-09-30 | 13.63% | +1.77 pp |
| Q2 2017 | 2017-06-30 | 15.46% | +0.58 pp |
| Q1 2017 | 2017-03-31 | 13.79% | +0.83 pp |
| Q4 2016 | 2016-12-31 | 15.20% | −1.05 pp |
| Q3 2016 | 2016-09-30 | 11.86% | −2.09 pp |
| Q2 2016 | 2016-06-30 | 14.88% | +0.17 pp |
| Q1 2016 | 2016-03-31 | 12.97% | +0.27 pp |
| Q4 2015 | 2015-12-31 | 16.25% | −0.25 pp |
| Q3 2015 | 2015-09-30 | 13.95% | +0.29 pp |
| Q2 2015 | 2015-06-30 | 14.71% | +0.61 pp |
| Q1 2015 | 2015-03-31 | 12.69% | −0.40 pp |
| Q4 2014 | 2014-12-31 | 16.50% | +0.42 pp |
| Q3 2014 | 2014-09-30 | 13.66% | +0.36 pp |
| Q2 2014 | 2014-06-30 | 14.10% | −0.43 pp |
| Q1 2014 | 2014-03-31 | 13.09% | −0.08 pp |
| Q4 2013 | 2013-12-31 | 16.09% | −0.59 pp |
| Q3 2013 | 2013-09-30 | 13.30% | −0.25 pp |
| Q2 2013 | 2013-06-30 | 14.53% | −0.71 pp |
| Q1 2013 | 2013-03-31 | 13.17% | −0.18 pp |
| Q4 2012 | 2012-12-31 | 16.68% | — |
| Q3 2012 | 2012-09-30 | 13.56% | — |
| Q2 2012 | 2012-06-30 | 15.25% | — |
| Q1 2012 | 2012-03-31 | 13.35% | — |
QVC Group operating margin trends
Over the last five reported fiscal years, QVC Group's operating margin decreased from 13.66% to −24.32%, a change of −37.98 percentage points. The latest reported quarter, Q2 2026, shows 3.51%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review QVC Group filings at SEC.gov ↗