QVC Group Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-3,688	-1,290	-145	-2,594	340	1,196
Depreciation & Amortization	432	383	407	481	537	562
Loss (Gain) From Sale of Assets	-	-1	-49	-520	-	-
Asset Writedown & Restructuring Costs	3,846	1,480	326	3,081	363	-
Loss (Gain) From Sale of Investments	22	22	22	-13	-77	-223
Loss (Gain) on Equity Investments	-	-	-	-	-	156
Stock-Based Compensation	25	32	53	60	72	64
Other Operating Activities	-293	-132	195	-32	272	-126
Change in Accounts Receivable	37	144	36	124	27	232
Change in Inventory	116	-28	257	254	-440	133
Change in Accounts Payable	-180	-104	-34	-446	147	185
Change in Other Net Operating Assets	-75	19	-149	-201	-16	276
Operating Cash Flow	242	525	919	194	1,225	2,455
Operating Cash Flow Growth	-61.59%	-42.87%	373.71%	-84.16%	-50.10%	91.20%
Capital Expenditures	-165	-199	-230	-268	-244	-257
Sale of Property, Plant & Equipment	-	6	208	704	54	-
Divestitures	-	-	-41	-	-	-
Sale (Purchase) of Intangibles	-103	-37	-113	-45	-187	-56
Investment in Securities	-	7	71	13	-121	152
Other Investing Activities	-11	-2	51	197	-3	-
Investing Cash Flow	-279	-225	-54	601	-501	-161
Long-Term Debt Issued	-	2,014	1,267	3,029	1,037	1,300
Long-Term Debt Repaid	-	-2,454	-2,258	-3,008	-594	-2,079
Net Debt Issued (Repaid)	1,032	-440	-991	21	443	-779
Repurchase of Common Stock	-2	-2	-1	-7	-394	-77
Common Dividends Paid	-1	-4	-8	-12	-15	-
Other Financing Activities	-23	-52	-10	-74	-460	-74
Financing Cash Flow	1,006	-498	-1,010	-72	-914	-2,181
Foreign Exchange Rate Adjustments	5	-15	-4	-34	-28	20
Net Cash Flow	974	-213	-149	689	-218	133
Free Cash Flow	77	326	689	-74	981	2,198
Free Cash Flow Growth	-81.40%	-52.69%	-	-	-55.37%	129.20%
Free Cash Flow Margin	0.81%	3.25%	6.31%	-0.61%	6.98%	15.50%
Free Cash Flow Per Share	9.66	41.16	88.79	-9.74	118.19	261.05
Cash Interest Paid	458	458	471	447	458	392
Cash Income Tax Paid	153	153	107	284	29	116
Levered Free Cash Flow	93.88	364.5	343.63	543.88	641.75	1,696
Unlevered Free Cash Flow	392.63	657	625.5	828.88	934.25	1,951
Change in Working Capital	-102	31	110	-269	-282	826

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.