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VSXY · NYSE · United States · Retail-Women'S Clothing Stores
In shortVictoria's Secret & Co. is profitable, generates cash and carries moderate debt, with revenue growing (+5.2% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 4.1% | 30/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 2.5% | 30/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 21.5% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 13.4% | 90/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.25× | 37/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 1.14× | 48/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 0.90× | 89/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 3.87× | 23/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 1.40 | 8/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 4.8% | 39/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.94× | 100/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 12.4% | 65/100 |
| Operating margin volatility | 3.7% | 75/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 1.1% | 23/100 |
|---|---|---|
| EPS growth, 3-year average | -22.5% | 0/100 |
Weight in the score: 10%
Fiscal year 2026 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
2 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 6,785 | 6,344 | 6,182 | 6,230 | 6,553 |
| Cost of revenue | 4,025 | 4,086 | 3,940 | 3,946 | 4,169 |
| Gross profit | 2,760 | 2,258 | 2,242 | 2,284 | 2,384 |
| Selling, general & admin | 1,890 | 1,780 | 1,996 | 1,974 | 2,113 |
| Operating income | 870 | 478 | 246 | 310 | 271 |
| Interest expense | 27 | 60 | 99 | 86 | 70 |
| Pre-tax income | 843 | 417 | 147 | 221 | 208 |
| Income tax | 197 | 79 | 31 | 52 | 19 |
| Net income | 646 | 348 | 109 | 165 | 161 |
| Diluted EPS | $7.18 | $4.14 | $1.39 | $2.05 | $1.93 |
| Diluted shares (millions) | 90 | 84 | 79 | 81 | 83 |
2 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of Victoria's Secret & Co. are included in the Investor plan. Try free for 7 days →
1.40 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Aug 1, 2026 · Data updated Sep 4, 2026