What is Victorias Secret & Co.'s earnings per share (EPS)?

Victorias Secret & Co. (VSXY) reported diluted earnings per share of $1.93 for fiscal year 2025. This represents a -5.9% 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 & Co. (VSXY) Financials

VSXY

FY2025 annual

Revenue $6.6B +5.2% YoY

Net Income $161.0M -2.4% YoY

EPS (Diluted) $1.93 -5.9% YoY

Free Cash Flow $312.0M +26.3% YoY

Market Cap $6.0B as of Sep 12, 2026

Price / Sales 0.9x on $6.6B revenue, FY2025

Price / Earnings 37.5x on $161.0M net income, FY2025

Price / Book 6.1x on $990.0M equity, Q3 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2027, ended Aug 1, 2026 Reported Sep 4, 2026 Currency USD FYE January

Newest figures come from the 10-Q for Q3 FY2027, filed Sep 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VSXY SEC filings page.

Victorias Secret & Co. (VSXY) reported $6.6B in revenue for fiscal year 2025, up 5.2% from the prior fiscal year. This page shows its 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).

Rhea AI VSXY FY2025 2026-09-04

The business is rebuilding cash flow and equity while elevated operating costs keep profitability well below its earlier peak.

Operating cash flow recovered from $389M in FY2023 to $499M in FY2025. Free cash flow's margin rose from 2.2% to 4.8% over the same period, showing that reinvestment consumed a smaller share of internally generated cash rather than the improvement being confined to accounting earnings; cash generation therefore provides the clearer measure of the latest recovery.

Gross margin is 36.4% in FY2025, close to 36.6% in FY2024, so product-level economics have been broadly stable. Yet operating margin is 4.1% versus 12.8% in FY2021, locating the longer-term pressure below gross profit as overhead absorbs much of the stable product-level margin.

Debt-to-equity fell from 3.8x in FY2021 to 1.1x in FY2025, reducing balance-sheet dependence on borrowed capital and lowering interest sensitivity. Current ratio improved from 0.9x in FY2023 to 1.2x in FY2025, so the balance sheet now combines lower leverage with more current-asset coverage rather than relying on earnings alone to ease financing pressure.

Financial Health Signals

Financial Health Score 45/100

Scored against operating companies for FY2025. 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 & 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.

Profitability

Victorias Secret & 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 50/100, indicating healthy but not exceptional operating efficiency. This is down from 5.0% the prior year.

Growth

Victorias Secret & Co.'s revenue grew 5.2% year-over-year to $6.6B, a solid pace of expansion. This earns a growth score of 41/100.

Leverage

Victorias Secret & Co. has a moderate D/E ratio of 1.13. This balance of debt and equity financing earns a leverage score of 50/100.

Liquidity

Victorias Secret & Co.'s current ratio of 1.25 indicates adequate short-term liquidity, earning a score of 31/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Victorias Secret & Co. has a free cash flow margin of 4.8%, earning a moderate score of 40/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Victorias Secret & Co.'s ROE of 18.8% shows moderate profitability relative to equity, earning a score of 57/100. This is down from 25.8% the prior year.

Altman Z-Score Grey Zone

2.60

Victorias Secret & Co. scores 2.60, 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.

Piotroski F-Score Neutral

5/9

Victorias Secret & Co. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

3.10x

For every $1 of reported earnings, Victorias Secret & 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.

Interest Coverage Adequate

3.87x

Victorias Secret & Co. earns $3.87 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

Export CSV

Earnings & Revenue

Revenue

$1.6B

YoY+10.4%

QoQ+3.3%

5Y CAGR-5.2%

Victorias Secret & Co. generated $1.6B in revenue in Q3 2027. This represents an increase of 10.4% from the same quarter a year earlier. Against the prior quarter it is up 3.3%.

EBITDA

$306.0M

YoY+200.0%

QoQ+135.4%

Victorias Secret & Co.'s EBITDA was $306.0M in Q3 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 200.0% from the same quarter a year earlier. Against the prior quarter it is up 135.4%.

Net Income

$183.0M

YoY+1043.8%

QoQ+281.3%

5Y CAGR-8.4%

Victorias Secret & Co. reported $183.0M in net income in Q3 2027. This represents an increase of 1043.8% from the same quarter a year earlier. Against the prior quarter it is up 281.3%.

EPS (Diluted)

$2.18

YoY+990.0%

QoQ+289.3%

5Y CAGR-7.4%

Victorias Secret & Co. earned $2.18 per diluted share (EPS) in Q3 2027. This represents an increase of 990.0% from the same quarter a year earlier. Against the prior quarter it is up 289.3%.

Cash & Balance Sheet

Free Cash Flow

$328.0M

YoY+272.7%

QoQ+271.7%

5Y CAGR-11.3%

Victorias Secret & Co. generated $328.0M in free cash flow in Q3 2027, representing cash available after capex. This represents an increase of 272.7% from the same quarter a year earlier. Against the prior quarter it is up 271.7%.

Cash & Debt

$522.0M

YoY+177.7%

QoQ+152.2%

5Y CAGR+9.3%

Victorias Secret & Co. held $522.0M in cash against $971.0M in long-term debt as of Q3 2027.

Shares Outstanding

80M

YoY-0.5%

QoQ+0.3%

Victorias Secret & Co. had 80M shares outstanding in Q3 2027. This represents a decrease of 0.5% from the same quarter a year earlier. Against the prior quarter it is up 0.3%.

Dividends Per Share

Not reported for Q3 2027.

Margins & Returns

Gross Margin

47.1%

YoY+11.5pp

QoQ+9.6pp

5Y change+4.2pp

Victorias Secret & Co.'s gross margin was 47.1% in Q3 2027, indicating the percentage of revenue retained after direct costs. This is up 11.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 9.6 percentage points.

Operating Margin

16.0%

YoY+13.1pp

QoQ+11.1pp

5Y change-2.5pp

Victorias Secret & Co.'s operating margin was 16.0% in Q3 2027, reflecting core business profitability. This is up 13.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 11.1 percentage points.

Net Margin

11.4%

YoY+10.3pp

QoQ+8.3pp

5Y change-2.2pp

Victorias Secret & Co.'s net profit margin was 11.4% in Q3 2027, showing the share of revenue converted to profit. This is up 10.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.3 percentage points.

Return on Equity

18.5%

YoY+16.1pp

QoQ+12.4pp

5Y change-13.4pp

Victorias Secret & Co.'s ROE was 18.5% in Q3 2027, measuring profit generated per dollar of shareholder equity. This is up 16.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 12.4 percentage points.

Capital Allocation

Share Buybacks

QoQ-100.0%

Victorias Secret & Co. repurchased no shares in Q3 2027. Against the prior quarter it is down 100.0%.

Capital Expenditures

$74.0M

YoY+8.8%

QoQ+37.0%

5Y CAGR+35.8%

Victorias Secret & Co. invested $74.0M in capex in Q3 2027, funding long-term assets and infrastructure. This represents an increase of 8.8% from the same quarter a year earlier. Against the prior quarter it is up 37.0%.

R&D Spending

Not reported for Q3 2027.

VSXY Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VSXY quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Revenue	$6.6B+5.2%	$6.2B+0.8%	$6.2B-2.6%	$6.3B-6.5%	$6.8B+25.3%	$5.4B-27.9%	$7.5B
Cost of Revenue	$4.2B+5.7%	$3.9B+0.2%	$3.9B-3.6%	$4.1B+1.5%	$4.0B+4.8%	$3.8B-29.5%	$5.4B
Gross Profit	$2.4B+4.4%	$2.3B+1.9%	$2.2B-0.7%	$2.3B-18.2%	$2.8B+75.7%	$1.6B-23.8%	$2.1B
SG&A Expenses	$2.1B+7.0%	$2.0B-1.1%	$2.0B+12.1%	$1.8B-5.8%	$1.9B+13.0%	$1.7B-25.2%	$2.2B
Operating Income	$271.0M-12.6%	$310.0M+26.0%	$246.0M-48.5%	$478.0M-45.1%	$870.0M+961.4%	-$101.0M+88.7%	-$892.0M
EBITDA	$509.0M-10.4%	$568.0M+7.2%	$530.0M-29.5%	$752.0M-35.9%	$1.2B+421.3%	$225.0M+146.8%	-$481.0M
Interest Expense	$70.0M-18.6%	$86.0M-13.1%	$99.0M+65.0%	$60.0M+122.2%	$27.0M+350.0%	$6.0M-25.0%	$8.0M
Income Tax	$19.0M-63.5%	$52.0M+67.7%	$31.0M-60.8%	$79.0M-59.9%	$197.0M+679.4%	-$34.0M-1600.0%	-$2.0M
Net Income	$161.0M-2.4%	$165.0M+51.4%	$109.0M-68.7%	$348.0M-46.1%	$646.0M+997.2%	-$72.0M+92.0%	-$897.0M
EPS (Basic)	$2.00-5.2%	$2.11+49.6%	$1.41-66.7%	$4.24-42.2%	$7.34+995.1%	-$0.82+91.9%	-$10.16
EPS (Diluted)	$1.93-5.9%	$2.05+47.5%	$1.39-66.4%	$4.14-42.3%	$7.18+975.6%	-$0.82+91.9%	-$10.16
Diluted Shares (Avg)	83M+2.5%	81M+2.5%	79M-6.0%	84M-6.7%	90M+2.3%	88M0.0%	88M

Metric	Q3'2710-Q	Q2'2710-Q	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-K	Q4'2510-K	Q3'2510-Q
Revenue	$1.6B+10.4%	$1.6B+15.3%	$1.5B+9.3%	$1.5B+3.0%	$1.4B-0.4%	$2.1B-0.8%	$1.3B	$1.4B+12.0%
Cost of Revenue	$509.0M-16.6%	$634.0M+13.6%	$605.0M+10.0%	$610.0M+3.7%	$558.0M+4.3%	$2.3B+38.3%	$550.0M	$588.0M-29.8%
Gross Profit	$759.0M+46.2%	$585.0M+23.4%	$536.0M+14.5%	$519.0M+3.6%	$474.0M-5.4%	-$137.0M-116.6%	$468.0M	$501.0M+17.3%
SG&A Expenses	$502.0M+5.0%	$509.0M+12.1%	$555.0M+7.8%	$478.0M+8.9%	$454.0M-4.4%	$566.0M0.0%	$515.0M	$439.0M-11.1%
Operating Income	$257.0M+526.8%	$76.0M+280.0%	-$19.0M+59.6%	$41.0M-33.9%	$20.0M-23.1%	$275.0M+5.4%	-$47.0M	$62.0M+192.5%
EBITDA	$306.0M+200.0%	$130.0M+58.5%	$38.0M+171.4%	$102.0M-15.7%	$82.0M-9.9%	$351.0M+3.8%	$14.0M	$121.0M+2925.0%
Interest Expense	$15.0M-16.7%	$15.0M-11.8%	$18.0M-18.2%	$18.0M-14.3%	$17.0M-22.7%	$26.0M-3.7%	$22.0M	$21.0M-19.2%
Income Tax	$60.0M+900.0%	$7.0M+133.3%	-$6.0M+60.0%	$6.0M-33.3%	$3.0M-62.5%	$55.0M+31.0%	-$15.0M	$9.0M+140.9%
Net Income	$183.0M+1043.8%	$48.0M+2500.0%	-$37.0M+33.9%	$16.0M-50.0%	-$2.0M+50.0%	$191.0M+3.2%	-$56.0M	$32.0M+145.1%
EPS (Basic)	$2.29+1045.0%	$0.59+3050.0%	-$0.46+35.2%	$0.20-51.2%	-$0.02+60.0%	$2.47+5.6%	-$0.71	$0.41+144.6%
EPS (Diluted)	$2.18+990.0%	$0.56+2900.0%	-$0.46+35.2%	$0.20-50.0%	-$0.02+60.0%	$2.41+3.9%	-$0.71	$0.40+143.5%
Diluted Shares (Avg)	84M+2.4%	85M+7.6%	81M+2.5%	82M+2.5%	79M+1.3%	N/A	79M	80M+3.9%

Not reported in any period shown, so not listed: R&D Expenses.

VSXY Balance Sheet

VSXY quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Total Assets	$5.0B+10.6%	$4.5B-1.5%	$4.6B-2.4%	$4.7B+8.4%	$4.3B+2.7%	$4.2B	N/A
Current Assets	$1.9B+30.7%	$1.4B-6.0%	$1.5B-11.7%	$1.7B+2.7%	$1.7B+36.5%	$1.2B	N/A
Cash & Equivalents	$518.0M+128.2%	$227.0M-15.9%	$270.0M-36.8%	$427.0M-12.9%	$490.0M+46.3%	$335.0M+36.7%	$245.0M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0
Inventory	$1.1B+12.1%	$955.0M-3.0%	$985.0M-6.4%	$1.1B+10.9%	$949.0M+35.4%	$701.0M	N/A
Accounts Receivable	$186.0M+17.0%	$159.0M+4.6%	$152.0M+7.8%	$141.0M-13.0%	$162.0M+33.9%	$121.0M	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0
Goodwill	$367.0M0.0%	$367.0M0.0%	$367.0M+0.5%	$365.0M	$0	N/A	N/A
Total Liabilities	$4.1B+6.1%	$3.9B-7.1%	$4.2B-3.4%	$4.3B+5.5%	$4.1B+22.4%	$3.3B	N/A
Current Liabilities	$1.5B+9.6%	$1.4B-14.8%	$1.6B+2.2%	$1.6B-7.0%	$1.7B+9.1%	$1.6B	N/A
Non-Current Liabilities	$2.6B+4.1%	$2.5B-2.2%	$2.5B-6.7%	$2.7B+14.3%	$2.4B+34.1%	$1.8B	N/A
Long-Term Debt	$971.0M-0.2%	$973.0M-13.1%	$1.1B-11.9%	$1.3B+30.0%	$978.0M+908.2%	$97.0M	N/A
Total Equity	$856.0M+33.8%	$640.0M+53.5%	$417.0M+8.9%	$383.0M+49.0%	$257.0M-71.2%	$891.0M-32.2%	$1.3B
Retained Earnings	$504.0M+46.9%	$343.0M+92.7%	$178.0M-4.3%	$186.0M+47.6%	$126.0M	$0	N/A

Metric	Q3'2710-Q	Q2'2710-Q	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-K	Q4'2510-K	Q3'2510-Q
Total Assets	$5.2B+8.4%	$4.8B+4.1%	$5.1B+4.3%	$4.8B+2.6%	$4.6B+4.5%	$4.5B-1.5%	$4.9B	$4.6B-1.1%
Current Assets	$2.0B+27.5%	$1.6B+11.8%	$1.9B+8.9%	$1.5B+3.4%	$1.5B+4.5%	$1.4B-6.0%	$1.8B	$1.5B-9.0%
Cash & Equivalents	$522.0M+177.7%	$207.0M+50.0%	$249.0M+54.7%	$188.0M+11.2%	$138.0M+31.4%	$227.0M-15.9%	$161.0M	$169.0M+36.3%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$1.1B+8.3%	$1.1B+5.3%	$1.4B+6.7%	$1.1B+3.8%	$1.0B+5.7%	$955.0M-3.0%	$1.3B	$1.0B-15.9%
Accounts Receivable	$171.0M+3.0%	$185.0M+20.9%	$190.0M+16.6%	$166.0M+5.1%	$153.0M+0.7%	$159.0M+4.6%	$163.0M	$158.0M+13.7%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$367.0M0.0%	$367.0M0.0%	$367.0M0.0%	$367.0M0.0%	$367.0M0.0%	$367.0M0.0%	$367.0M	$367.0M+0.5%
Total Liabilities	$4.1B+1.5%	$3.9B+0.5%	$4.4B-0.5%	$4.0B-2.3%	$3.9B-0.8%	$3.9B-7.1%	$4.5B	$4.1B-6.9%
Current Liabilities	$1.4B+7.3%	$1.3B+2.4%	$1.5B-2.3%	$1.3B-10.0%	$1.3B-12.5%	$1.4B-14.8%	$1.5B	$1.5B+9.2%
Non-Current Liabilities	$2.7B-1.4%	$2.6B-0.5%	$3.0B+0.4%	$2.7B+2.0%	$2.7B+5.9%	$2.5B-2.2%	$2.9B	$2.6B-14.1%
Long-Term Debt	$971.0M-7.3%	$986.0M-8.5%	$1.3B-4.7%	$1.0B-6.3%	$1.1B-3.7%	$973.0M-13.1%	$1.4B	$1.1B-26.9%
Total Equity	$990.0M+45.6%	$790.0M+22.5%	$653.0M+52.2%	$680.0M+44.1%	$645.0M+52.5%	$640.0M+53.5%	$429.0M	$472.0M+114.5%
Retained Earnings	$644.0M+80.4%	$461.0M+35.2%	$320.0M+113.3%	$357.0M+73.3%	$341.0M+96.0%	$343.0M+92.7%	$150.0M	$206.0M+6966.7%

VSXY Cash Flow Statement

VSXY quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Operating Cash Flow	$499.0M+17.4%	$425.0M+9.3%	$389.0M-11.0%	$437.0M-48.6%	$851.0M+26.3%	$674.0M+114.0%	$315.0M
Depreciation & Amortization	$238.0M-7.8%	$258.0M-9.2%	$284.0M+3.6%	$274.0M-9.6%	$303.0M-7.1%	$326.0M-20.7%	$411.0M
Stock-Based Compensation	$55.0M-8.3%	$60.0M+7.1%	$56.0M+16.7%	$48.0M+45.5%	$33.0M+32.0%	$25.0M-34.2%	$38.0M
Capital Expenditures	$187.0M+5.1%	$178.0M-30.5%	$256.0M+56.1%	$164.0M-3.0%	$169.0M+33.1%	$127.0M-43.6%	$225.0M
Free Cash Flow	$312.0M+26.3%	$247.0M+85.7%	$133.0M-51.3%	$273.0M-60.0%	$682.0M+24.7%	$547.0M+507.8%	$90.0M
Investing Cash Flow	-$184.0M-20.3%	-$153.0M+39.8%	-$254.0M+54.2%	-$555.0M-228.4%	-$169.0M-37.4%	-$123.0M+49.4%	-$243.0M
Financing Cash Flow	-$24.0M+92.4%	-$315.0M-8.2%	-$291.0M-601.7%	$58.0M+111.0%	-$527.0M-13.3%	-$465.0M-142.2%	-$192.0M
Share Buybacks	$0	$0-100.0%	$125.0M-50.0%	$250.0M0.0%	$250.0M	$0	$0

Metric	Q3'2710-Q	Q2'2710-Q	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-K	Q4'2510-K	Q3'2510-Q
Operating Cash Flow	$402.0M+157.7%	-$137.0M+8.7%	-$180.0M+27.4%	$156.0M+35.7%	-$150.0M-29.3%	$674.0M+14.4%	-$248.0M	$115.0M+163.5%
Depreciation & Amortization	$49.0M-19.7%	$54.0M-12.9%	$57.0M-6.6%	$61.0M+3.4%	$62.0M-4.6%	$66.0M-2.9%	$61.0M	$59.0M-16.9%
Stock-Based Compensation	N/A	$13.0M-7.1%	N/A	N/A	$14.0M-12.5%	N/A	N/A	N/A
Capital Expenditures	$74.0M+8.8%	$54.0M+25.6%	$52.0M+2.0%	$68.0M+13.3%	$43.0M+10.3%	$28.0M-12.5%	$51.0M	$60.0M-25.0%
Free Cash Flow	$328.0M+272.7%	-$191.0M+1.0%	-$232.0M+22.4%	$88.0M+60.0%	-$193.0M-24.5%	$646.0M+16.0%	-$299.0M	$55.0M+121.1%
Investing Cash Flow	-$74.0M-8.8%	-$54.0M-25.6%	-$52.0M-4.0%	-$68.0M-54.5%	-$43.0M-10.3%	-$20.0M+35.5%	-$50.0M	-$44.0M+45.0%
Financing Cash Flow	-$15.0M+61.5%	-$121.0M-214.2%	$293.0M+1.4%	-$39.0M-457.1%	$106.0M+1160.0%	-$587.0M-42.1%	$289.0M	-$7.0M-102.7%
Dividends Paid	$0	$7.0M	N/A	$0	$0	N/A	N/A	N/A
Share Buybacks	$0	$100.0M	N/A	$0	$0	$0	$0	$0

VSXY Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VSXY quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Gross Margin	36.4%-0.3pp	36.7%+0.4pp	36.3%+0.7pp	35.6%-5.1pp	40.7%+11.7pp	29.0%+1.6pp	27.5%
Operating Margin	4.1%-0.8pp	5.0%+1.0pp	4.0%-3.6pp	7.5%-5.3pp	12.8%+14.7pp	-1.9%+10.0pp	-11.9%
Net Margin	2.5%-0.2pp	2.6%+0.9pp	1.8%-3.7pp	5.5%-4.0pp	9.5%+10.9pp	-1.3%+10.6pp	-11.9%
Return on Equity	18.8%-7.0pp	25.8%-0.4pp	26.1%-64.7pp	90.9%-160.5pp	251.4%+259.4pp	-8.1%+60.2pp	-68.3%
Return on Assets	3.2%-0.4pp	3.6%+1.3pp	2.4%-5.0pp	7.4%-7.5pp	14.9%+16.6pp	-1.7%	N/A
Current Ratio	1.25+0.2x	1.05+0.1x	0.95-0.2x	1.10+0.1x	1.00+0.2x	0.80	N/A
Debt-to-Equity	1.13-0.4x	1.52-1.2x	2.69-0.6x	3.32-0.5x	3.81+3.7x	0.11	N/A
Asset Turnover	1.31-0.1x	1.370.0x	1.340.0x	1.35-0.2x	1.56+0.3x	1.28	N/A
FCF Margin	4.8%+0.8pp	4.0%+1.8pp	2.1%-2.1pp	4.3%-5.8pp	10.1%-0.1pp	10.1%+8.9pp	1.2%

Metric	Q3'2710-Q	Q2'2710-Q	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-K	Q4'2510-K	Q3'2510-Q
Gross Margin	47.1%+11.5pp	37.5%+2.5pp	36.4%+1.7pp	35.6%+0.2pp	35.0%-1.8pp	-6.5%-45.3pp	34.7%	35.4%+1.6pp
Operating Margin	16.0%+13.1pp	4.9%+3.4pp	-1.3%+2.2pp	2.8%-1.6pp	1.5%-0.4pp	13.0%+0.8pp	-3.5%	4.4%+9.7pp
Net Margin	11.4%+10.3pp	3.1%+3.2pp	-2.5%+1.6pp	1.1%-1.2pp	-0.1%+0.1pp	9.0%+0.4pp	-4.2%	2.3%+7.9pp
Return on Equity	18.5%+16.1pp	6.1%+6.4pp	-5.7%+7.4pp	2.4%-4.4pp	-0.3%+0.6pp	29.8%-14.5pp	-13.1%	6.8%+39.0pp
Return on Assets	3.5%+3.2pp	1.0%+1.0pp	-0.7%+0.4pp	0.3%-0.4pp	0.0%+0.1pp	4.2%+0.2pp	-1.1%	0.7%+2.2pp
Current Ratio	1.36+0.2x	1.26+0.1x	1.30+0.1x	1.14+0.1x	1.16+0.2x	1.05+0.1x	1.17	1.00-0.2x
Debt-to-Equity	0.98-0.6x	1.25-0.4x	2.06-1.2x	1.54-0.8x	1.67-1.0x	1.52-1.2x	3.30	2.37-4.6x
Asset Turnover	0.310.0x	0.330.0x	0.290.0x	0.310.0x	0.300.0x	0.470.0x	0.27	0.310.0x
FCF Margin	20.4%+14.3pp	-12.2%+2.0pp	-15.8%+6.4pp	6.0%+2.1pp	-14.3%-2.9pp	30.6%+4.4pp	-22.2%	3.9%+24.5pp

Where Victorias Secret & Co. Ranks

Frequently Asked Questions

What is Victorias Secret & Co.'s annual revenue?

Victorias Secret & Co. (VSXY) reported $6.6B in total revenue for fiscal year 2025. 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 & Co.'s revenue growing?

Victorias Secret & Co. (VSXY) revenue grew by 5.2% year-over-year, from $6.2B to $6.6B in fiscal year 2025.

Is Victorias Secret & Co. profitable?

Yes, Victorias Secret & Co. (VSXY) reported a net income of $161.0M in fiscal year 2025, with a net profit margin of 2.5%.

What is Victorias Secret & Co.'s EBITDA?

Victorias Secret & Co. (VSXY) had EBITDA of $509.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Victorias Secret & Co. have?

As of fiscal year 2025, Victorias Secret & Co. (VSXY) had $518.0M in cash and equivalents against $971.0M in long-term debt.

What is Victorias Secret & Co.'s gross margin?

Victorias Secret & Co. (VSXY) had a gross margin of 36.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Victorias Secret & Co.'s operating margin?

Victorias Secret & Co. (VSXY) had an operating margin of 4.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Victorias Secret & Co.'s net profit margin?

Victorias Secret & Co. (VSXY) had a net profit margin of 2.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Victorias Secret & Co.'s return on equity (ROE)?

Victorias Secret & Co. (VSXY) has a return on equity of 18.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Victorias Secret & Co.'s free cash flow?

Victorias Secret & Co. (VSXY) generated $312.0M in free cash flow during fiscal year 2025. 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 & Co.'s operating cash flow?

Victorias Secret & Co. (VSXY) generated $499.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Victorias Secret & Co.'s total assets?

Victorias Secret & Co. (VSXY) had $5.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Victorias Secret & Co.'s capital expenditures?

Victorias Secret & Co. (VSXY) invested $187.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Victorias Secret & Co. have outstanding?

Victorias Secret & Co. (VSXY) had 80M shares outstanding as of fiscal year 2025.

What is Victorias Secret & Co.'s current ratio?

Victorias Secret & Co. (VSXY) had a current ratio of 1.25 as of fiscal year 2025, which is considered adequate.

What is Victorias Secret & Co.'s debt-to-equity ratio?

Victorias Secret & Co. (VSXY) had a debt-to-equity ratio of 1.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Victorias Secret & Co.'s return on assets (ROA)?

Victorias Secret & Co. (VSXY) had a return on assets of 3.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Victorias Secret & Co.'s P/E ratio?

Victorias Secret & Co. (VSXY) trades at 37.5x earnings, its market capitalization divided by net income of $161.0M net income, FY2025. The market capitalization is $6.0B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Victorias Secret & Co.'s price-to-sales ratio?

Victorias Secret & Co. (VSXY) trades at 0.9x sales, its market capitalization divided by revenue of $6.6B revenue, FY2025. The market capitalization is $6.0B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Victorias Secret & Co.'s Altman Z-Score?

Victorias Secret & Co. (VSXY) has an Altman Z-Score of 2.60, 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 & Co.'s Piotroski F-Score?

Victorias Secret & Co. (VSXY) has a Piotroski F-Score of 5 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 & Co.'s earnings high quality?

Victorias Secret & 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 & Co. cover its interest payments?

Victorias Secret & Co. (VSXY) has an interest coverage ratio of 3.87x, 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 & Co.?

Victorias Secret & Co. (VSXY) scores 45 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.