STOCK TITAN

Victorias Secret And Co Financials

VSCO
Source SEC Filings (10-K/10-Q) Updated Nov 1, 2025 Currency USD FYE February

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

Profitability Growth Leverage Liquidity Cash Flow Returns 43 / 100
Financial Profile 43/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
33

Victorias Secret And Co has an operating margin of 5.0%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is up from 4.0% the prior year.

Growth
35

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 35/100.

Leverage
68

Victorias Secret And Co carries a low D/E ratio of 1.67, meaning only $1.67 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 68/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
18

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 18/100, which could limit financial flexibility.

Cash Flow
35

Victorias Secret And Co has a free cash flow margin of 4.0%, earning a moderate score of 35/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
68

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 68/100. This is down from 25.8% the prior year.

Altman Z-Score Grey Zone
2.31

Victorias Secret And Co scores 2.31, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Strong
7/9

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.

Earnings Quality Cash-Backed
2.58x

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.

Interest Coverage Adequate
3.6x

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

Export CSV

Earnings & Revenue

Revenue
$6.2B
YoY+0.8%
5Y CAGR-3.7%

Victorias Secret And Co generated $6.2B in revenue in fiscal year 2025. This represents an increase of 0.8% from the prior year.

EBITDA
$568.0M
YoY+7.2%

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.

Net Income
$165.0M
YoY+51.4%

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.

EPS (Diluted)
$2.05
YoY+47.5%

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.

Cash & Balance Sheet

Free Cash Flow
$247.0M
YoY+85.7%
5Y CAGR+22.4%

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.

Cash & Debt
$138.0M
YoY+31.4%
5Y CAGR-16.3%

Victorias Secret And Co held $138.0M in cash against $1.1B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
79M
YoY+1.7%

Victorias Secret And Co had 79M shares outstanding in fiscal year 2025. This represents an increase of 1.7% from the prior year.

Margins & Returns

Gross Margin
36.7%
YoY+0.4pp
5Y CAGR+9.2pp

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.

Operating Margin
5.0%
YoY+1.0pp
5Y CAGR+16.9pp

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.

Net Margin
2.6%
YoY+0.9pp
5Y CAGR+14.6pp

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.

Return on Equity
25.6%
YoY-0.2pp
5Y CAGR+93.4pp

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.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$0
YoY-100.0%

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.

Capital Expenditures
$178.0M
YoY-30.5%
5Y CAGR-4.6%

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 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Revenue $1.5B+0.9% $1.5B+7.8% $1.4B-36.0% $2.1B+56.9% $1.3B-4.9% $1.4B+4.3% $1.4B-36.2% $2.1B
Cost of Revenue $605.0M-0.8% $610.0M+9.3% $558.0M-75.2% $2.3B+309.1% $550.0M-6.5% $588.0M+9.9% $535.0M-67.1% $1.6B
Gross Profit $536.0M+3.3% $519.0M+9.5% $474.0M+446.0% -$137.0M-129.3% $468.0M-6.6% $501.0M0.0% $501.0M-39.4% $827.0M
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-19.8% $566.0M+9.9% $515.0M+17.3% $439.0M-7.6% $475.0M-16.1% $566.0M
Operating Income -$19.0M-146.3% $41.0M+105.0% $20.0M-92.7% $275.0M+685.1% -$47.0M-175.8% $62.0M+138.5% $26.0M-90.0% $261.0M
Interest Expense $18.0M0.0% $18.0M+5.9% $17.0M-34.6% $26.0M+18.2% $22.0M+4.8% $21.0M-4.5% $22.0M-18.5% $27.0M
Income Tax -$6.0M-200.0% $6.0M+100.0% $3.0M-94.5% $55.0M+466.7% -$15.0M-266.7% $9.0M+12.5% $8.0M-81.0% $42.0M
Net Income -$37.0M-331.3% $16.0M+900.0% -$2.0M-101.0% $191.0M+441.1% -$56.0M-275.0% $32.0M+900.0% -$4.0M-102.2% $185.0M
EPS (Diluted) $-0.46-330.0% $0.20+1100.0% $-0.02 N/A $-0.71-277.5% $0.40+900.0% $-0.05 N/A

VSCO Balance Sheet

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Total Assets $5.1B+8.0% $4.8B+3.8% $4.6B+1.1% $4.5B-7.9% $4.9B+6.2% $4.6B+5.7% $4.4B-4.7% $4.6B
Current Assets $1.9B+26.4% $1.5B+5.8% $1.5B+1.0% $1.4B-19.3% $1.8B+20.0% $1.5B+6.8% $1.4B-9.1% $1.5B
Cash & Equivalents $249.0M+32.4% $188.0M+36.2% $138.0M-39.2% $227.0M+41.0% $161.0M-4.7% $169.0M+61.0% $105.0M-61.1% $270.0M
Inventory $1.4B+30.2% $1.1B+1.4% $1.0B+9.2% $955.0M-26.0% $1.3B+26.6% $1.0B+3.2% $987.0M+0.2% $985.0M
Accounts Receivable $190.0M+14.5% $166.0M+8.5% $153.0M-3.8% $159.0M-2.5% $163.0M+3.2% $158.0M+3.9% $152.0M0.0% $152.0M
Goodwill $367.0M0.0% $367.0M0.0% $367.0M0.0% $367.0M0.0% $367.0M0.0% $367.0M0.0% $367.0M0.0% $367.0M
Total Liabilities $4.4B+9.9% $4.0B+3.5% $3.9B+1.0% $3.9B-13.4% $4.5B+7.9% $4.1B+5.1% $3.9B-5.4% $4.2B
Current Liabilities $1.5B+10.9% $1.3B+7.1% $1.3B-8.7% $1.4B-9.9% $1.5B+2.1% $1.5B+4.1% $1.4B-11.1% $1.6B
Long-Term Debt $1.3B+28.5% $1.0B-2.8% $1.1B+10.8% $973.0M-31.2% $1.4B+26.4% $1.1B0.0% $1.1B-0.1% $1.1B
Total Equity $653.0M-4.0% $680.0M+5.4% $645.0M+0.8% $640.0M+49.2% $429.0M-9.1% $472.0M+11.6% $423.0M+1.4% $417.0M
Retained Earnings $320.0M-10.4% $357.0M+4.7% $341.0M-0.6% $343.0M+128.7% $150.0M-27.2% $206.0M+18.4% $174.0M-2.2% $178.0M

VSCO Cash Flow Statement

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Operating Cash Flow -$180.0M-215.4% $156.0M+204.0% -$150.0M-122.3% $674.0M+371.8% -$248.0M-315.7% $115.0M+199.1% -$116.0M-119.7% $589.0M
Capital Expenditures $52.0M-23.5% $68.0M+58.1% $43.0M+53.6% $28.0M-45.1% $51.0M-15.0% $60.0M+53.8% $39.0M+21.9% $32.0M
Free Cash Flow -$232.0M-363.6% $88.0M+145.6% -$193.0M-129.9% $646.0M+316.1% -$299.0M-643.6% $55.0M+135.5% -$155.0M-127.8% $557.0M
Investing Cash Flow -$52.0M+23.5% -$68.0M-58.1% -$43.0M-115.0% -$20.0M+60.0% -$50.0M-13.6% -$44.0M-12.8% -$39.0M-25.8% -$31.0M
Financing Cash Flow $293.0M+851.3% -$39.0M-136.8% $106.0M+118.1% -$587.0M-303.1% $289.0M+4228.6% -$7.0M+30.0% -$10.0M+97.6% -$413.0M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A $0 $0 $0 $0 $0

VSCO Financial Ratios

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Gross Margin 36.4%+0.8pp 35.6%+0.5pp 35.0%+41.5pp -6.5%-41.2pp 34.7%-0.6pp 35.4%-1.5pp 36.9%-1.9pp 38.8%
Operating Margin -1.3%-4.1pp 2.8%+1.3pp 1.5%-11.5pp 13.0%+16.5pp -3.5%-7.9pp 4.4%+2.5pp 1.9%-10.3pp 12.3%
Net Margin -2.5%-3.6pp 1.1%+1.3pp -0.1%-9.2pp 9.0%+13.2pp -4.2%-6.4pp 2.3%+2.5pp -0.3%-9.0pp 8.7%
Return on Equity -5.7%-8.0pp 2.4%+2.7pp -0.3%-30.1pp 29.8%+42.9pp -13.1%-19.8pp 6.8%+7.7pp -0.9%-45.3pp 44.4%
Return on Assets -0.7%-1.1pp 0.3%+0.4pp -0.0%-4.3pp 4.2%+5.3pp -1.1%-1.8pp 0.7%+0.8pp -0.1%-4.1pp 4.0%
Current Ratio 1.30+0.2 1.14-0.0 1.16+0.1 1.05-0.1 1.17+0.2 1.00+0.0 0.97+0.0 0.95
Debt-to-Equity 2.06+0.5 1.54-0.1 1.67+0.2 1.52-1.8 3.30+0.9 2.37-0.3 2.65-0.0 2.69
FCF Margin -15.8%-21.8pp 6.0%+20.3pp -14.3%-44.8pp 30.6%+52.8pp -22.2%-26.1pp 3.9%+15.3pp -11.4%-37.5pp 26.1%

Similar Companies

Frequently Asked Questions

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.

Victorias Secret And Co (VSCO) revenue grew by 0.8% year-over-year, from $6.2B to $6.2B in fiscal year 2025.

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%.

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.

Victorias Secret And Co (VSCO) had EBITDA of $568.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Victorias Secret And Co (VSCO) had $138.0M in cash and equivalents against $1.1B in long-term debt.

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.

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.

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.

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.

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.

Victorias Secret And Co (VSCO) generated $425.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Victorias Secret And Co (VSCO) had $4.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Victorias Secret And Co (VSCO) invested $178.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Victorias Secret And Co (VSCO) had 79M shares outstanding as of fiscal year 2025.

Victorias Secret And Co (VSCO) had a current ratio of 1.16 as of fiscal year 2025, which is considered adequate.

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.

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.

Victorias Secret And Co (VSCO) has an Altman Z-Score of 2.31, 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.

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.

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.

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.

Victorias Secret And Co (VSCO) scores 43 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.

Back to top