This page shows Victorias Secret And Co (VSCO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Victorias Secret And Co has an operating margin of 5.0%, meaning the company retains $5 of operating profit per $100 of revenue. This below-average margin results in a low score of 25/100, suggesting thin profitability after operating expenses. This is up from 4.0% the prior year.
Victorias Secret And Co's revenue grew a modest 0.8% year-over-year to $6.2B. This slow but positive growth earns a score of 31/100.
Victorias Secret And Co has a moderate D/E ratio of 1.67. This balance of debt and equity financing earns a leverage score of 49/100.
Victorias Secret And Co's current ratio of 1.16 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 26/100, which could limit financial flexibility.
Victorias Secret And Co's free cash flow margin of 4.0% results in a low score of 20/100. Capital expenditures of $178.0M absorb a large share of operating cash flow.
Victorias Secret And Co earns a strong 25.6% return on equity (ROE), meaning it generates $26 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 25.8% the prior year.
Victorias Secret And Co scores 2.46, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Victorias Secret And Co passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Victorias Secret And Co generates $2.58 in operating cash flow ($425.0M OCF vs $165.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Victorias Secret And Co earns $3.6 in operating income for every $1 of interest expense ($310.0M vs $86.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Victorias Secret And Co generated $6.2B in revenue in fiscal year 2025. This represents an increase of 0.8% from the prior year.
Victorias Secret And Co's EBITDA was $568.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 7.2% from the prior year.
Victorias Secret And Co generated $247.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 85.7% from the prior year.
Victorias Secret And Co reported $165.0M in net income in fiscal year 2025. This represents an increase of 51.4% from the prior year.
Victorias Secret And Co earned $2.05 per diluted share (EPS) in fiscal year 2025. This represents an increase of 47.5% from the prior year.
Victorias Secret And Co held $138.0M in cash against $1.1B in long-term debt as of fiscal year 2025.
Victorias Secret And Co had 79M shares outstanding in fiscal year 2025. This represents an increase of 1.7% from the prior year.
Victorias Secret And Co's gross margin was 36.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.4 percentage points from the prior year.
Victorias Secret And Co's operating margin was 5.0% in fiscal year 2025, reflecting core business profitability. This is up 1.0 percentage points from the prior year.
Victorias Secret And Co's net profit margin was 2.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.9 percentage points from the prior year.
Victorias Secret And Co's ROE was 25.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.2 percentage points from the prior year.
Victorias Secret And Co spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Victorias Secret And Co invested $178.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 30.5% from the prior year.
VSCO Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5B+0.9% | $1.5B+7.8% | $1.4B+0.4% | $1.3B-4.9% | $1.4B+4.3% | $1.4B-34.8% | $2.1B+64.7% | $1.3B |
| Cost of Revenue | $605.0M-0.8% | $610.0M+9.3% | $558.0M+1.5% | $550.0M-6.5% | $588.0M+9.9% | $535.0M-57.4% | $1.3B+50.0% | $838.0M |
| Gross Profit | $536.0M+3.3% | $519.0M+9.5% | $474.0M+1.3% | $468.0M-6.6% | $501.0M0.0% | $501.0M-39.3% | $826.0M+93.4% | $427.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $555.0M+16.1% | $478.0M+5.3% | $454.0M-11.8% | $515.0M+17.3% | $439.0M-7.6% | $475.0M-16.2% | $567.0M+14.8% | $494.0M |
| Operating Income | -$19.0M-146.3% | $41.0M+105.0% | $20.0M+142.6% | -$47.0M-175.8% | $62.0M+138.5% | $26.0M-90.0% | $259.0M+486.6% | -$67.0M |
| Interest Expense | $18.0M0.0% | $18.0M+5.9% | $17.0M-22.7% | $22.0M+4.8% | $21.0M-4.5% | $22.0M-18.5% | $27.0M+3.8% | $26.0M |
| Income Tax | -$6.0M-200.0% | $6.0M+100.0% | $3.0M+120.0% | -$15.0M-266.7% | $9.0M+12.5% | $8.0M-83.3% | $48.0M+318.2% | -$22.0M |
| Net Income | -$37.0M-331.3% | $16.0M+900.0% | -$2.0M+96.4% | -$56.0M-275.0% | $32.0M+900.0% | -$4.0M-102.2% | $180.0M+353.5% | -$71.0M |
| EPS (Diluted) | $-0.46-330.0% | $0.20+1100.0% | $-0.02+97.2% | $-0.71-277.5% | $0.40+900.0% | $-0.05-102.2% | $2.32+352.2% | $-0.92 |
VSCO Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.1B+8.0% | $4.8B+3.8% | $4.6B-6.9% | $4.9B+6.2% | $4.6B+5.7% | $4.4B-4.7% | $4.6B-1.9% | $4.7B |
| Current Assets | $1.9B+26.4% | $1.5B+5.8% | $1.5B-18.5% | $1.8B+20.0% | $1.5B+6.8% | $1.4B-9.1% | $1.5B-6.3% | $1.6B |
| Cash & Equivalents | $249.0M+32.4% | $188.0M+36.2% | $138.0M-14.3% | $161.0M-4.7% | $169.0M+61.0% | $105.0M-61.1% | $270.0M+117.7% | $124.0M |
| Inventory | $1.4B+30.2% | $1.1B+1.4% | $1.0B-19.1% | $1.3B+26.6% | $1.0B+3.2% | $987.0M+0.2% | $985.0M-18.7% | $1.2B |
| Accounts Receivable | $190.0M+14.5% | $166.0M+8.5% | $153.0M-6.1% | $163.0M+3.2% | $158.0M+3.9% | $152.0M0.0% | $152.0M+9.4% | $139.0M |
| Goodwill | $367.0M0.0% | $367.0M0.0% | $367.0M0.0% | $367.0M0.0% | $367.0M0.0% | $367.0M0.0% | $367.0M+0.5% | $365.0M |
| Total Liabilities | $4.4B+9.9% | $4.0B+3.5% | $3.9B-12.6% | $4.5B+7.9% | $4.1B+5.1% | $3.9B-5.4% | $4.2B-6.5% | $4.4B |
| Current Liabilities | $1.5B+10.9% | $1.3B+7.1% | $1.3B-17.7% | $1.5B+2.1% | $1.5B+4.1% | $1.4B-11.1% | $1.6B+18.0% | $1.4B |
| Long-Term Debt | $1.3B+28.5% | $1.0B-2.8% | $1.1B-23.8% | $1.4B+26.4% | $1.1B0.0% | $1.1B-0.1% | $1.1B-26.8% | $1.5B |
| Total Equity | $653.0M-4.0% | $680.0M+5.4% | $645.0M+50.3% | $429.0M-9.1% | $472.0M+11.6% | $423.0M+1.4% | $417.0M+89.5% | $220.0M |
| Retained Earnings | $320.0M-10.4% | $357.0M+4.7% | $341.0M+127.3% | $150.0M-27.2% | $206.0M+18.4% | $174.0M-2.2% | $178.0M+6033.3% | -$3.0M |
VSCO Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$180.0M-215.4% | $156.0M+204.0% | -$150.0M+39.5% | -$248.0M-315.7% | $115.0M+199.1% | -$116.0M-119.7% | $589.0M+425.4% | -$181.0M |
| Capital Expenditures | $52.0M-23.5% | $68.0M+58.1% | $43.0M-15.7% | $51.0M-15.0% | $60.0M+53.8% | $39.0M+21.9% | $32.0M-60.0% | $80.0M |
| Free Cash Flow | -$232.0M-363.6% | $88.0M+145.6% | -$193.0M+35.5% | -$299.0M-643.6% | $55.0M+135.5% | -$155.0M-127.8% | $557.0M+313.4% | -$261.0M |
| Investing Cash Flow | -$52.0M+23.5% | -$68.0M-58.1% | -$43.0M+14.0% | -$50.0M-13.6% | -$44.0M-12.8% | -$39.0M-25.8% | -$31.0M+61.3% | -$80.0M |
| Financing Cash Flow | $293.0M+851.3% | -$39.0M-136.8% | $106.0M-63.3% | $289.0M+4228.6% | -$7.0M+30.0% | -$10.0M+97.6% | -$413.0M-262.0% | $255.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | N/A | N/A | $0 | $0 | $0 | $0 | $0 |
VSCO Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.4%+0.8pp | 35.6%+0.5pp | 35.0%+0.3pp | 34.7%-0.6pp | 35.4%-1.5pp | 36.9%-2.8pp | 39.6%+5.9pp | 33.8% |
| Operating Margin | -1.3%-4.1pp | 2.8%+1.3pp | 1.5%+5.0pp | -3.5%-7.9pp | 4.4%+2.5pp | 1.9%-10.5pp | 12.4%+17.7pp | -5.3% |
| Net Margin | -2.5%-3.6pp | 1.1%+1.3pp | -0.1%+4.0pp | -4.2%-6.4pp | 2.3%+2.5pp | -0.3%-8.9pp | 8.6%+14.3pp | -5.6% |
| Return on Equity | 30.2%+27.8pp | 2.4% | N/A | N/A | 6.8% | N/A | 43.2% | N/A |
| Return on Assets | -0.7%-1.1pp | 0.3%+0.4pp | -0.0%+1.1pp | -1.1%-1.8pp | 0.7%+0.8pp | -0.1%-4.0pp | 3.9%+5.4pp | -1.5% |
| Current Ratio | 1.30+0.2 | 1.14-0.0 | 1.16-0.0 | 1.17+0.2 | 1.00+0.0 | 0.97+0.0 | 0.95-0.2 | 1.20 |
| Debt-to-Equity | 2.06+0.5 | 1.54-0.1 | 1.67-1.6 | 3.30+0.9 | 2.37-0.3 | 2.65-0.0 | 2.69-4.3 | 6.95 |
| FCF Margin | -15.8%-21.8pp | 6.0%+20.3pp | -14.3%+7.9pp | -22.2%-26.1pp | 3.9%+15.3pp | -11.4%-38.1pp | 26.7%+47.4pp | -20.6% |
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Frequently Asked Questions
What is Victorias Secret And Co's annual revenue?
Victorias Secret And Co (VSCO) reported $6.2B in total revenue for fiscal year 2025. This represents a 0.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Victorias Secret And Co's revenue growing?
Victorias Secret And Co (VSCO) revenue grew by 0.8% year-over-year, from $6.2B to $6.2B in fiscal year 2025.
Is Victorias Secret And Co profitable?
Yes, Victorias Secret And Co (VSCO) reported a net income of $165.0M in fiscal year 2025, with a net profit margin of 2.6%.
What is Victorias Secret And Co's earnings per share (EPS)?
Victorias Secret And Co (VSCO) reported diluted earnings per share of $2.05 for fiscal year 2025. This represents a 47.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Victorias Secret And Co's EBITDA?
Victorias Secret And Co (VSCO) had EBITDA of $568.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Victorias Secret And Co have?
As of fiscal year 2025, Victorias Secret And Co (VSCO) had $138.0M in cash and equivalents against $1.1B in long-term debt.
What is Victorias Secret And Co's gross margin?
Victorias Secret And Co (VSCO) had a gross margin of 36.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Victorias Secret And Co's operating margin?
Victorias Secret And Co (VSCO) had an operating margin of 5.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Victorias Secret And Co's net profit margin?
Victorias Secret And Co (VSCO) had a net profit margin of 2.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Victorias Secret And Co's return on equity (ROE)?
Victorias Secret And Co (VSCO) has a return on equity of 25.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Victorias Secret And Co's free cash flow?
Victorias Secret And Co (VSCO) generated $247.0M in free cash flow during fiscal year 2025. This represents a 85.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Victorias Secret And Co's operating cash flow?
Victorias Secret And Co (VSCO) generated $425.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Victorias Secret And Co's total assets?
Victorias Secret And Co (VSCO) had $4.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Victorias Secret And Co's capital expenditures?
Victorias Secret And Co (VSCO) invested $178.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How many shares does Victorias Secret And Co have outstanding?
Victorias Secret And Co (VSCO) had 79M shares outstanding as of fiscal year 2025.
What is Victorias Secret And Co's current ratio?
Victorias Secret And Co (VSCO) had a current ratio of 1.16 as of fiscal year 2025, which is considered adequate.
What is Victorias Secret And Co's debt-to-equity ratio?
Victorias Secret And Co (VSCO) had a debt-to-equity ratio of 1.67 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Victorias Secret And Co's return on assets (ROA)?
Victorias Secret And Co (VSCO) had a return on assets of 3.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Victorias Secret And Co's Altman Z-Score?
Victorias Secret And Co (VSCO) has an Altman Z-Score of 2.46, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Victorias Secret And Co's Piotroski F-Score?
Victorias Secret And Co (VSCO) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Victorias Secret And Co's earnings high quality?
Victorias Secret And Co (VSCO) has an earnings quality ratio of 2.58x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Victorias Secret And Co cover its interest payments?
Victorias Secret And Co (VSCO) has an interest coverage ratio of 3.6x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Victorias Secret And Co?
Victorias Secret And Co (VSCO) scores 42 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.