Forensic Analysis · Retail / Consumer Discretionary · as of Nov 9, 2026
Qvc Group, Inc. (QVCG)
A forensic read on Qvc Group, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-7.4
Distress distance
Clean
Earnings quality
2
Forensic signals
-96.6%
ROE
-7.8%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Qvc Group, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -7.4, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-23.6%
FY2025
Return on invested capital.Return on invested capital is -23.6% in the latest fiscal year and slipping across FY2023–FY2025 from 4.4%. After-tax operating profit was $419M in FY2023 and ($1.6B) in FY2025, with operating income at 6.8% of revenue in FY2023, -8.6% in FY2024 and -24.3% in FY2025. The capital base behind it came down -30% across FY2023–FY2025, from $9.6B to $6.7B, so this return is struck on a smaller base than it started on. FY2023's operating profit carried a $326M goodwill write-off and a $13M restructuring charge that took about 2.3 points off that year's return, and FY2025's carried a $1.5B goodwill write-off and a $930M asset write-down that took about 28.1 points off the latest; so, net of each other, the two charges take about 25.8 points off the -28.0-point change across FY2023–FY2025. FY2024's operating profit carried a $902M goodwill write-off, a $578M asset write-down and a $18M restructuring charge that alone took about 13.5 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it. A non-cash write-down lowers the reported return in the year it lands.
$2.7B
FY2023–FY2025
Goodwill impairments.Took $2.7B of goodwill writedowns across 3 years (FY2023 ($326M), FY2024 ($902M), FY2025 ($1.5B)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$8.29B
Revenue Growth YoY-7.8%
Revenue CAGR (2yr)-6.3%
Net Margin-26.1%
Free Cash Flow$287.0M
Return on Equity-96.6%
Debt / Equity4.22x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Qvc Group, Inc.'s actual 10-K/10-Q/8-K filings?