QVC, Inc.
Profit Margins
| Fiscal Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| FY2011 | 36.2% | 13.8% | 6.8% |
| FY2012 | 36.4% | 14.9% | 7.3% |
| FY2013 | 36.6% | 14.4% | 6.8% |
| FY2014 | 37.0% | 14.5% | 6.7% |
| FY2015 | 36.8% | 14.6% | 7.2% |
| FY2016 | 36.2% | 13.9% | 7.0% |
| FY2017 | 36.2% | 14.9% | 10.3% |
| FY2018 | 35.8% | 13.4% | 7.8% |
| FY2019 | 34.9% | 12.1% | 7.0% |
| FY2020 | 35.3% | 13.7% | 7.4% |
| FY2021 | 35.1% | 13.3% | 6.9% |
| FY2022 | 31.7% | -14.1% | -18.9% |
| FY2023 | 33.6% | 6.8% | 1.7% |
| FY2024 | 34.4% | -8.6% | -11.9% |
| FY2025 | 33.6% | -24.3% | -26.1% |
Mimicking the herd invites regression to the mean (merely average performance).