This page shows Victorias Secret And Co (VSXY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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
Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Victorias Secret And Co's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Victorias Secret And Co has an operating margin of 4.1%, meaning the company retains $4 of operating profit per $100 of revenue. This results in a moderate score of 52/100, indicating healthy but not exceptional operating efficiency. This is down from 5.0% the prior year.
Victorias Secret And Co's revenue grew 5.2% year-over-year to $6.6B, a solid pace of expansion. This earns a growth score of 42/100.
Victorias Secret And Co has a moderate D/E ratio of 1.25. This balance of debt and equity financing earns a leverage score of 36/100.
Victorias Secret And Co's current ratio of 1.26 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.
Victorias Secret And Co has a free cash flow margin of 4.8%, earning a moderate score of 43/100. The company generates positive cash flow after capital investments, but with room for improvement.
Victorias Secret And Co's ROE of 20.4% shows moderate profitability relative to equity, earning a score of 58/100. This is down from 25.6% the prior year.
Victorias Secret And Co scores 2.80, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Victorias Secret And Co passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Victorias Secret And Co generates $3.10 in operating cash flow ($499.0M OCF vs $161.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Victorias Secret And Co earns $3.9 in operating income for every $1 of interest expense ($271.0M vs $70.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Victorias Secret And Co generated $6.6B in revenue in fiscal year 2026. This represents an increase of 5.2% from the prior year.
Victorias Secret And Co's EBITDA was $509.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 10.4% from the prior year.
Victorias Secret And Co reported $161.0M in net income in fiscal year 2026. This represents a decrease of 2.4% from the prior year.
Victorias Secret And Co earned $1.93 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 5.9% from the prior year.
Cash & Balance Sheet
Victorias Secret And Co generated $312.0M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 26.3% from the prior year.
Victorias Secret And Co held $207.0M in cash against $971.0M in long-term debt as of fiscal year 2026.
Victorias Secret And Co had 80M shares outstanding in fiscal year 2026. This represents an increase of 2.0% from the prior year.
Margins & Returns
Victorias Secret And Co's gross margin was 36.4% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 0.3 percentage points from the prior year.
Victorias Secret And Co's operating margin was 4.1% in fiscal year 2026, reflecting core business profitability. This is down 0.8 percentage points from the prior year.
Victorias Secret And Co's net profit margin was 2.5% in fiscal year 2026, showing the share of revenue converted to profit. This is down 0.2 percentage points from the prior year.
Victorias Secret And Co's ROE was 20.4% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 5.2 percentage points from the prior year.
Capital Allocation
Victorias Secret And Co spent $0 on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding.
Victorias Secret And Co invested $187.0M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 5.1% from the prior year.
VSXY Income Statement
| Metric | Q2'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B+6.0% | $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 |
| Cost of Revenue | $634.0M+4.8% | $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 |
| Gross Profit | $585.0M+9.1% | $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 |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $509.0M-8.3% | $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 |
| Operating Income | $76.0M+500.0% | -$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 |
| Interest Expense | $15.0M-16.7% | $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 |
| Income Tax | $7.0M+216.7% | -$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 |
| Net Income | $48.0M+229.7% | -$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 |
| EPS (Diluted) | $0.56+221.7% | $-0.46-330.0% | $0.20+1100.0% | $-0.02 | N/A | $-0.71-277.5% | $0.40+900.0% | $-0.05 |
VSXY Balance Sheet
| Metric | Q2'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.8B-7.1% | $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 |
| Current Assets | $1.6B-16.4% | $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 |
| Cash & Equivalents | $207.0M-16.9% | $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 |
| Inventory | $1.1B-20.3% | $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 |
| Accounts Receivable | $185.0M-2.6% | $190.0M+14.5% | $166.0M+8.5% | $153.0M-3.8% | $159.0M-2.5% | $163.0M+3.2% | $158.0M+3.9% | $152.0M |
| 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 | $3.9B-11.7% | $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 |
| Current Liabilities | $1.3B-13.7% | $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 |
| Long-Term Debt | $986.0M-26.8% | $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 |
| Total Equity | $790.0M+21.0% | $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 |
| Retained Earnings | $461.0M+44.1% | $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 |
VSXY Cash Flow Statement
| Metric | Q2'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$137.0M+23.9% | -$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 |
| Capital Expenditures | $54.0M+3.8% | $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 |
| Free Cash Flow | -$191.0M+17.7% | -$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 |
| Investing Cash Flow | -$54.0M-3.8% | -$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 |
| Financing Cash Flow | -$121.0M-141.3% | $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 |
| Dividends Paid | $7.0M | N/A | N/A | $0 | N/A | N/A | N/A | N/A |
| Share Buybacks | $100.0M | N/A | N/A | $0 | $0 | $0 | $0 | $0 |
VSXY Financial Ratios
| Metric | Q2'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.5%+1.1pp | 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% |
| Operating Margin | 4.9%+6.2pp | -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% |
| Net Margin | 3.1%+5.6pp | -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% |
| Return on Equity | 6.1%+11.8pp | -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% |
| Return on Assets | 1.0%+1.7pp | -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% |
| Current Ratio | 1.26-0.0 | 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 |
| Debt-to-Equity | 1.25-0.8 | 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 |
| FCF Margin | -12.2%+3.5pp | -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% |
Frequently Asked Questions
What is Victorias Secret And Co's annual revenue?
Victorias Secret And Co (VSXY) reported $6.6B in total revenue for fiscal year 2026. This represents a 5.2% 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 (VSXY) revenue grew by 5.2% year-over-year, from $6.2B to $6.6B in fiscal year 2026.
Is Victorias Secret And Co profitable?
Yes, Victorias Secret And Co (VSXY) reported a net income of $161.0M in fiscal year 2026, with a net profit margin of 2.5%.
What is Victorias Secret And Co's EBITDA?
Victorias Secret And Co (VSXY) had EBITDA of $509.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Victorias Secret And Co have?
As of fiscal year 2026, Victorias Secret And Co (VSXY) had $207.0M in cash and equivalents against $971.0M in long-term debt.
What is Victorias Secret And Co's gross margin?
Victorias Secret And Co (VSXY) had a gross margin of 36.4% in fiscal year 2026, 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 (VSXY) had an operating margin of 4.1% in fiscal year 2026, 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 (VSXY) had a net profit margin of 2.5% in fiscal year 2026, 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 (VSXY) has a return on equity of 20.4% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Victorias Secret And Co's free cash flow?
Victorias Secret And Co (VSXY) generated $312.0M in free cash flow during fiscal year 2026. This represents a 26.3% 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 (VSXY) generated $499.0M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Victorias Secret And Co's total assets?
Victorias Secret And Co (VSXY) had $4.8B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Victorias Secret And Co's capital expenditures?
Victorias Secret And Co (VSXY) invested $187.0M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
What is Victorias Secret And Co's current ratio?
Victorias Secret And Co (VSXY) had a current ratio of 1.26 as of fiscal year 2026, which is considered adequate.
What is Victorias Secret And Co's debt-to-equity ratio?
Victorias Secret And Co (VSXY) had a debt-to-equity ratio of 1.25 as of fiscal year 2026, 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 (VSXY) had a return on assets of 3.4% for fiscal year 2026, 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 (VSXY) has an Altman Z-Score of 2.80, 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 (VSXY) has a Piotroski F-Score of 6 out of 9, indicating neutral 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 to 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 (VSXY) has an earnings quality ratio of 3.10x, 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 (VSXY) has an interest coverage ratio of 3.9x, 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 (VSXY) scores 44 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.