VSCO · Victoria'S Secret & Co. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | $1.47B | $1.46B | $1.35B | $1.35B | $1.42B | $1.36B | $1.26B | $1.43B | $1.41B |
| Cost of Revenue | - | $605.00M | $610.00M | $558.00M | $879.00M | $916.00M | $858.00M | $838.00M | $940.00M | $905.00M |
| Gross Profit | - | $536.00M | $519.00M | $474.00M | $468.00M | $501.00M | $501.00M | $427.00M | $487.00M | $502.00M |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | $555.00M | $478.00M | $454.00M | $515.00M | $439.00M | $475.00M | $494.00M | $461.00M | $474.00M |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | - | $51.00M | $55.00M | $62.00M | $55.00M | $53.00M | $65.00M | $65.00M | $65.00M | $70.00M |
| Operating Income | - | ($19.00M) | $41.00M | $20.00M | ($47.00M) | $62.00M | $26.00M | ($67.00M) | $26.00M | $28.00M |
| Interest Expense | - | $18.00M | $18.00M | $17.00M | $22.00M | $21.00M | $22.00M | $26.00M | $24.00M | $22.00M |
| Income Tax | - | ($6.00M) | $6.00M | $3.00M | ($15.00M) | $9.00M | $8.00M | ($22.00M) | $3.00M | $2.00M |
| Net Income | - | ($37.00M) | $16.00M | ($2.00M) | ($56.00M) | $32.00M | ($4.00M) | ($71.00M) | ($1.00M) | $1.00M |
| EPS - Basic | - | ($0.46) | $0.20 | ($0.02) | ($0.71) | $0.41 | ($0.05) | ($0.92) | ($0.02) | $0.01 |
| EPS - Diluted | - | ($0.46) | $0.20 | ($0.02) | ($0.71) | $0.40 | ($0.05) | ($0.92) | ($0.02) | $0.01 |
Balance Sheet
| Line item | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $518.00M | $249.00M | $188.00M | $138.00M | $161.00M | $169.00M | $105.00M | $124.00M | $131.00M | $132.00M |
| Accounts Receivable | $186.00M | $190.00M | $166.00M | $153.00M | $163.00M | $158.00M | $152.00M | $139.00M | $140.00M | $126.00M |
| Inventory | $1.07B | $1.38B | $1.06B | $1.04B | $1.29B | $1.02B | $987.00M | $1.21B | $1.04B | $1.04B |
| Accounts Payable | $493.00M | $546.00M | $480.00M | $423.00M | $464.00M | $475.00M | $412.00M | $449.00M | $529.00M | $388.00M |
| Current Assets | $1.88B | $1.95B | $1.54B | $1.46B | $1.79B | $1.49B | $1.39B | $1.64B | $1.48B | $1.44B |
| Total Assets | $5.01B | $5.13B | $4.75B | $4.58B | $4.92B | $4.63B | $4.38B | $4.69B | $4.53B | $4.41B |
| Current Liabilities | $1.51B | $1.49B | $1.34B | $1.26B | $1.53B | $1.49B | $1.44B | $1.37B | $1.41B | $1.37B |
| Long-term Debt | $971.00M | $1.35B | $1.05B | $1.08B | $1.41B | $1.12B | $1.12B | $1.53B | $1.27B | $1.27B |
| Total Liabilities | $4.10B | $4.45B | $4.04B | $3.91B | $4.47B | $4.14B | $3.94B | $4.45B | $4.22B | $4.12B |
| Stockholders' Equity | $856.00M | $653.00M | $680.00M | $645.00M | $429.00M | $472.00M | $423.00M | $220.00M | $279.00M | $265.00M |
| Retained Earnings | $504.00M | $320.00M | $357.00M | $341.00M | $150.00M | $206.00M | $174.00M | ($3.00M) | $68.00M | $92.00M |
Cash Flow
| Line item | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | - | ($150.00M) | - | - | ($116.00M) | - | - | ($108.00M) |
| Investing Cash Flow | - | - | - | ($43.00M) | - | - | ($39.00M) | - | - | ($55.00M) |
| Financing Cash Flow | - | - | - | $106.00M | - | - | ($10.00M) | - | - | ($132.00M) |
| CapEx | - | - | - | $43.00M | - | - | $39.00M | - | - | $55.00M |
| Free Cash Flow | - | - | - | ($193.00M) | - | - | ($155.00M) | - | - | ($163.00M) |
Ratios
| Metric | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | 36.4% | 35.6% | 35.0% | 34.7% | 35.4% | 36.9% | 33.8% | 34.1% | 35.7% |
| Operating margin | - | -1.3% | 2.8% | 1.5% | -3.5% | 4.4% | 1.9% | -5.3% | 1.8% | 2.0% |
| EBITDA margin | - | 2.2% | 6.6% | 6.1% | 0.6% | 8.1% | 6.7% | -0.2% | 6.4% | 7.0% |
| Net margin | - | -2.5% | 1.1% | -0.1% | -4.2% | 2.3% | -0.3% | -5.6% | -0.1% | 0.1% |
| Free cash flow margin | - | - | - | -14.3% | - | - | -11.4% | - | - | -11.6% |
| FCF / Net income | - | - | - | 96.50 | - | - | 38.75 | - | - | -163.00 |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | 37.7% | 32.8% | 33.6% | 38.2% | 31.0% | 35.0% | 39.1% | 32.3% | 33.7% |
| Effective tax rate | - | - | 27.3% | 300.0% | - | 22.0% | 200.0% | - | 150.0% | 66.7% |
| Return on assets | - | -0.7% | 0.3% | -0.0% | -1.1% | 0.7% | -0.1% | -1.5% | -0.0% | 0.0% |
| Return on equity | - | -5.7% | 2.4% | -0.3% | -13.1% | 6.8% | -0.9% | -32.3% | -0.4% | 0.4% |
| Return on invested capital | - | -0.8% | 1.7% | 0.6% | -2.0% | 3.0% | 0.8% | -3.0% | 0.8% | 0.9% |
| Liquidity | ||||||||||
| Current ratio | 1.25 | 1.30 | 1.14 | 1.16 | 1.17 | 1.00 | 0.97 | 1.20 | 1.05 | 1.05 |
| Quick ratio | 0.54 | 0.38 | 0.36 | 0.33 | 0.33 | 0.31 | 0.28 | 0.31 | 0.31 | 0.29 |
| Cash ratio | 0.34 | 0.17 | 0.14 | 0.11 | 0.11 | 0.11 | 0.07 | 0.09 | 0.09 | 0.10 |
| Leverage | ||||||||||
| Debt / Equity | 1.13 | 2.06 | 1.54 | 1.67 | 3.30 | 2.37 | 2.65 | 6.95 | 4.55 | 4.80 |
| Debt / Assets | 0.19 | 0.26 | 0.22 | 0.24 | 0.29 | 0.24 | 0.26 | 0.33 | 0.28 | 0.29 |
| Debt / EBITDA | - | 42.09 | 10.92 | 13.15 | 176.75 | 9.73 | 12.30 | - | 13.96 | 12.97 |
| Interest coverage | - | -1.1x | 2.3x | 1.2x | -2.1x | 3.0x | 1.2x | -2.6x | 1.1x | 1.3x |
| Equity multiplier | 5.86 | 7.86 | 6.99 | 7.10 | 11.47 | 9.82 | 10.36 | 21.30 | 16.22 | 16.62 |
| Liabilities / Assets | 0.82 | 0.87 | 0.85 | 0.85 | 0.91 | 0.89 | 0.90 | 0.95 | 0.93 | 0.93 |
| Efficiency | ||||||||||
| Asset turnover | - | 0.29 | 0.31 | 0.30 | 0.27 | 0.31 | 0.31 | 0.27 | 0.32 | 0.32 |
| Inventory turnover | - | 0.44 | 0.58 | 0.53 | 0.68 | 0.90 | 0.87 | 0.69 | 0.90 | 0.87 |
| Days sales outstanding | - | 47d | 42d | 41d | 44d | 41d | 41d | 40d | 36d | 33d |
| Days inventory outstanding | - | 831d | 633d | 682d | 536d | 406d | 420d | 527d | 404d | 420d |
| Days payable outstanding | - | 329d | 287d | 277d | 193d | 189d | 175d | 196d | 205d | 156d |
| Cash conversion cycle | - | 548d | 387d | 447d | 387d | 257d | 285d | 372d | 234d | 296d |
| Valuation | ||||||||||
| P / E | - | - | 93.6x | - | - | 40.4x | - | - | - | 3101.0x |
| P / B | - | 4.4x | 2.3x | 2.4x | 5.8x | 2.7x | 3.2x | 6.5x | 5.6x | 9.4x |
| P / S | - | 1.9x | 1.1x | 1.1x | 1.8x | 0.9x | 1.0x | 1.1x | 1.1x | 1.8x |
| EV / EBITDA | - | 123.5x | 24.9x | 30.3x | 467.8x | 19.5x | 26.2x | - | 29.6x | 36.9x |
| Growth | ||||||||||
| Revenue growth (YoY) | - | 9.3% | 3.0% | -0.4% | 6.5% | -0.7% | -3.4% | -4.0% | -6.2% | -5.2% |
| Revenue CAGR (3y) | - | 3.8% | -1.4% | -3.0% | -0.1% | -4.2% | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | 14.5% | 3.6% | -5.4% | 9.6% | 2.9% | -0.2% | -6.6% | -9.0% | -3.8% |
| Operating income growth (YoY) | - | 59.6% | -33.9% | -23.1% | 29.9% | 138.5% | -7.1% | - | -73.5% | -70.2% |
| Net income growth (YoY) | - | 33.9% | -50.0% | 50.0% | 21.1% | - | - | - | - | -98.8% |
| EPS growth (YoY) | - | 35.2% | -50.0% | 60.0% | 22.8% | - | - | - | - | -98.9% |
| EPS CAGR (3y) | - | - | -37.8% | - | - | -38.4% | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | -24.5% | - | - | 4.9% | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 32.7% | 52.2% | 44.1% | 52.5% | 95.0% | 69.2% | 59.6% | -6.4% | 13.0% | -73.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-01-31.
Geographic
$6.60B totalUS$5.39B · 81.7%
Non Us$1.16B · 17.6%
European Union$44.00M · 0.7%
Peer comparison
Same SIC group: Retail-Women's Clothing Stores
Comparing Victoria's Secret & Co. against the 2 most active filers in the same SIC group.