QVC Group, Inc.
QVCAQ, QVCGQ, QVCPQ · Retail-Catalog & Mail-Order Houses · 7.7M shares · -63%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $268M (gross $365M, SBC $97M)
Reference price $0.51 · est. market cap ~$4M — last insider purchase, 2026-04-20 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
F32Video-commerce group that has filed Chapter 11, breached its leverage covenant and faces Nasdaq delisting.
Strengths
- Recognized QVC/HSN brands with a large international footprint and seasonal cash flow
- Sizable cash balance (90th pct) entering restructuring
Risks
- Chapter 11 filing with $5.0B of debt classified current; covenant breach and acceleration triggers
- Deeply negative operating (-23%) and net (-26%) margins; ROE of 100th pct is a negative-equity artifact, not strength
Notable findings
- Debt accelerationRecent 8-K item 2.04 8-K ↗
- BankruptcyChapter 11 Proceedings Voluntary Filing under Chapter 11 On the Petition Date, the Company Parties intend to commence the Chapter 11 Cases under the Bankruptcy Code in the Bankruptcy Court 8-K ↗
- RestatementR everse Stock Split On May 22, 2025, the Company filed an amendment to its Restated Certificate of Incorporation (the “Charter Amendment”) with the Secretary of State of the State of Delaware to ef 8-K ↗
- Weak liquidityCurrent ratio 0.63 (<1)
- Net lossNet loss (net margin -26.4%)
- Strong balance sheetStrong balance sheet — $2.0B cash & investments
- Buying back stockNet buyback — share count -63%/yr over 4y
- Revenue declineRevenue -26.9% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
34.3%
Operating margin
-22.7%
Net margin
-26.4%
Return on equity
78.7%
Return on assets
-31.9%
Revenue growth (QoQ)
-26.9%
Current ratio
0.6×
EBITDA
-$1.7B
Tangible book value
-$4.2B
Cash & investments
$2.0B
Stock comp / revenue
0.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-20 | GOLDMAN SACHS GROUP INC | Buy | 10K | $0.55 |
| 2026-04-20 | GOLDMAN SACHS GROUP INC | Buy | 1 | $0.53 |
| 2026-04-20 | GOLDMAN SACHS GROUP INC | Buy | 4 | $0.52 |
| 2026-04-20 | GOLDMAN SACHS GROUP INC | Sell | 3.6K | $0.51 |
| 2026-04-20 | GOLDMAN SACHS GROUP INC | Buy | 1 | $0.51 |
| 2026-04-20 | GOLDMAN SACHS GROUP INC | Sell | 6.3K | $0.51 |
| 2026-04-20 | GOLDMAN SACHS GROUP INC | Buy | 1 | $0.51 |
| 2026-04-20 | GOLDMAN SACHS GROUP INC | Buy | 10K | $0.55 |
| 2026-04-20 | GOLDMAN SACHS GROUP INC | Buy | 1 | $0.53 |
| 2026-04-20 | GOLDMAN SACHS GROUP INC | Buy | 4 | $0.52 |
| 2026-04-20 | GOLDMAN SACHS GROUP INC | Sell | 3.6K | $0.51 |
| 2026-04-20 | GOLDMAN SACHS GROUP INC | Sell | 6.3K | $0.51 |
| 2026-03-20 | Wafford Bill | Option exercise | 13K | — |
| 2026-03-20 | Wafford Bill | Tax withheld | 4.6K | $2.86 |
| 2026-03-15 | Fitzharris Mike | Option exercise | 4.4K | — |
| 2026-03-15 | Wafford Bill | Option exercise | 3.9K | — |
| 2026-03-15 | Wafford Bill | Disposition | 3.9K | — |
| 2026-03-15 | DelSoldo Eve | Option exercise | 1.7K | — |
| 2026-03-15 | DelSoldo Eve | Disposition | 1.7K | — |
| 2026-03-15 | Fitzharris Mike | Disposition | 4.4K | — |
| 2026-03-15 | Bowe Stacy | Option exercise | 3.3K | — |
| 2026-03-15 | Bowe Stacy | Disposition | 3.3K | — |
| 2026-03-05 | Bowe Stacy | Disposition | 6.4K | — |
| 2026-03-05 | Bowe Stacy | Option exercise | 6.4K | — |
| 2025-12-08 | O'Meara Aidan | Option exercise | 31K | — |
| 2025-12-08 | O'Meara Aidan | Tax withheld | 14K | $9.36 |
| 2025-12-08 | Bowe Stacy | Option exercise | 930 | — |
| 2025-12-08 | Bowe Stacy | Tax withheld | 405 | $9.36 |
| 2025-03-15 | Wendling Brian J | Disposition | 99K | $0.22 |
| 2025-03-15 | Wendling Brian J | Option exercise | 99K | — |
| 2025-03-15 | Wilm Renee L | Option exercise | 193K | — |
| 2025-03-15 | Wilm Renee L | Disposition | 193K | $0.22 |
| 2025-03-07 | MAFFEI GREGORY B | Tax withheld | 109K | $6.84 |
| 2025-03-06 | Rawlinson David | Tax withheld | 809K | $0.27 |
| 2025-03-04 | Rawlinson David | Grant | 2.8M | — |
| 2025-03-04 | MAFFEI GREGORY B | Grant | 296K | — |
| 2025-03-03 | Wong Andrea L | Sell | 119K | $0.29 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-17 | Reg FDExhibits | filing ↗ |
| 2026-04-20 | Delisting notice | filing ↗ |
| 2026-04-17 | Material agreementBankruptcyDebt accelerationReg FDExhibits | filing ↗ |
| 2026-02-20 | Reg FDExhibits | filing ↗ |
| 2026-01-26 | Reg FDExhibits | filing ↗ |
| 2025-11-05 | ResultsExhibits | filing ↗ |
| 2025-10-07 | Reg FDExhibits | filing ↗ |
| 2025-08-15 | Exec/director changeExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-17 | 2026-06-15 | 0001104659-26-075187 ↗ |
| 10-Q | 2026-05-15 | 2026-03-31 | 0001355096-26-000019 ↗ |
| 10-K/A | 2026-04-30 | 2025-12-31 | 0001104659-26-051797 ↗ |
| 8-K | 2026-04-20 | 2026-04-17 | 0001355096-26-000015 ↗ |
| 8-K | 2026-04-17 | 2026-04-16 | 0001104659-26-044521 ↗ |
| 10-K | 2026-04-15 | 2025-12-31 | 0001355096-26-000010 ↗ |
| 8-K | 2026-02-20 | 2026-02-20 | 0001355096-26-000005 ↗ |
| 8-K | 2026-01-26 | 2026-01-26 | 0001355096-26-000002 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001628280-25-049504 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001628280-25-049528 ↗ |
| 8-K | 2025-10-07 | 2025-10-03 | 0001104659-25-097263 ↗ |
| 8-K | 2025-08-15 | 2025-08-12 | 0001104659-25-079313 ↗ |