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NYSE · Consumer Discretionary

Victoria's Secret & Co. (VSXY)

As-reported financials and SEC filings for Victoria's Secret & Co. The latest annual period is FY2025. The latest reported quarter is Q1 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Victoria's Secret & Co.

Victoria's Secret & Co. is a specialty retailer of women's intimate apparel, apparel, and beauty products under the Victoria's Secret, PINK, and Adore Me brands. The company operates approximately 860 stores in the U.S., Canada, and China, along with websites and digital channels worldwide, and has over 560 franchise, license, and wholesale stores in about 70 countries. It serves customers through physical stores, digital platforms, and international partnerships, offering products such as bras, panties, lingerie, sleepwear, apparel, sport and swimwear, fragrances, and body care.

Snapshot

Revenue
$6.55B
Revenue growth (YoY)
5.2%
Net income
$161.0M
Diluted EPS
$1.93
Gross margin
36.4%
Operating margin
4.1%
Net margin
2.5%
FCF margin
4.8%
ROE
17.7%
net income / fiscal-year-end equity
P/E
35.7×
trailing when available, otherwise FY EPS
Market cap
$7.13B
Long-term debt / equity
1.07×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended January 31, 2026). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Victoria's Secret

  • Revenue grew 5.2% to $6.6B in FY2025, faster than the 0.8% the year before.
  • Operating margin is 4.1% in FY2025, -8.7 pp against 12.8% in FY2021.
  • Most recent quarter Q1 FY2026: revenue $1.6B, up 15.3% from Q1 FY2025.
  • Free cash flow was $312M in FY2025, 4.8% of revenue.
  • Net income fell 2.4% to $161M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Victoria's Secret’s fundamentals sit among the 403 Consumer Discretionary companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin36.4%
53rd percentile of 275
Operating margin4.1%
51st percentile of 348
Net margin2.5%
50th percentile of 377
FCF margin4.8%
55th percentile of 351
Revenue growth (YoY)+5.2%
60th percentile of 394
ROE17.7%
73rd percentile of 343
P/E35.7×
84th percentile of 249
Long-term debt / equity1.07×
70th percentile of 234
Short interest6.48d
77th percentile of 401

No reported insider purchases (code P) in the last 90 days; 4 insider sales totaling $97.0M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+6 quant / multi-strat
Initiated / added
2
1 new, 1 added
Reduced / exited
8
6 trimmed, 2 exited
Combined position
$187.8M
reported long value
InvestorAs ofPosition valueSharesChange
D. E. ShawquantQ2 2026$81.8M979.4KReduced
Renaissance TechnologiesquantQ2 2026$32.9M394.0KNew
Gotham Asset ManagementQ2 2026$21.0M251.0KReduced
AQR Capital ManagementquantQ2 2026$15.4M183.9KReduced
Bridgewater AssociatesQ2 2026$12.2M146.6KReduced
Millennium ManagementquantQ2 2026$10.2M122.4KReduced
Citadel AdvisorsquantQ2 2026$9.0M107.3KReduced
Two Sigma InvestmentsquantQ2 2026$5.4M64.7KAdded

No longer held by: Greenlight Capital (as of Q2 2026), Point72 Asset Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
4
$97.0M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-07-28
filed 2026-07-29
BBRC INTERNATIONAL PTE LTD10% ownerSell718.0K$89.08$64.0M
2026-07-28
filed 2026-07-29
BBRC INTERNATIONAL PTE LTD10% ownerSell79.1K$89.76$7.1M
2026-07-28
filed 2026-07-29
BBRC INTERNATIONAL PTE LTD10% ownerSell1.8K$90.60$162K
2026-07-22
filed 2026-07-24
BBRC INTERNATIONAL PTE LTD10% ownerSell289.5K$88.89$25.7M

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
10.2M
settled 2026-08-14
Change vs prior
-7.2%
vs previous settlement
Days to cover
6.48
at avg daily volume
Avg daily volume
1.6M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1410.2M-7.2%6.48
2026-07-3111.0M-0.2%6.14
2026-07-1511.0M-0.6%7.30
2026-06-3011.0M-6.1%4.96
2026-06-1511.8M-12.6%3.28

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$6.55B$6.23B$6.18B$6.34B$6.79B
Gross profit$2.38B$2.28B$2.24B$2.26B$2.76B
Operating income$271.0M$310.0M$246.0M$478.0M$870.0M
Net income$161.0M$165.0M$109.0M$348.0M$646.0M
Diluted EPS$1.93$2.05$1.39$4.14$7.18

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$499.0M$425.0M$389.0M$437.0M$851.0M
Capital expenditure$187.0M$178.0M$256.0M$164.0M$169.0M
Free cash flow$312.0M$247.0M$133.0M$273.0M$682.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2026$1.56B15.3%$48.0M$0.56
Q4 FY2025$2.27B7.7%$184.0M$2.00
Q3 FY2025$1.47B9.3%$-37.0M$-0.46
Q2 FY2025$1.46B3.0%$16.0M$0.20
Q1 FY2025$1.35B-0.4%$-2.0M$-0.02
Q4 FY2024$2.11B1.1%$193.0M$2.15
Q3 FY2024$1.35B6.5%$-56.0M$-0.71
Q2 FY2024$1.42B-0.7%$32.0M$0.40

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorConsumer Discretionary
SIC industryRetail-Women's Clothing Stores
Latest annual periodFY2025 (ended January 31, 2026)
Latest reported quarterQ1 FY2026 (ended May 2, 2026)
Oldest indexed filing2021
SEC CIK1856437

Selected SEC filings

10-Q2026-06-05
View on EDGAR →
8-K2026-08-20
View on EDGAR →
8-K2026-06-15
View on EDGAR →
8-K2026-06-02
View on EDGAR →
8-K2026-05-21
View on EDGAR →

Largest Consumer Discretionary peers

All Consumer Discretionary companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.