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Victoria's Secret & Co.(VSCO)Earnings, Financials & Key Ratios
VSCO•NYSE
42.4× P/E·Price updated Jun 19, 2026
AboutVictoria's Secret & Co. operates as a specialty retailer of women's intimate, personal care, and beauty products worldwide. The company offers bras, panties, lingerie, sleepwear, loungewear, and athletic attire and swimwear, as well as fragrances and body care products, and accessories under the Victoria's Secret and PINK brands. As of March 2, 2022, it operated approximately 1,400 retail stores. The company was incorporated in 2021 and is headquartered in Reynoldsburg, Ohio.Show more
- Revenue$6.55B+5.2%
- EBITDA$278M-50.9%
- Net Income$161M-2.5%
- EPS (Diluted)1.93-5.4%
- Gross Margin36.43%-0.6%
- EBITDA Margin4.24%-53.3%
- Operating Margin4.53%-9.0%
- Net Margin2.45%-7.3%
- ROE20.44%-31.7%
VSCO Key Insights
Victoria's Secret & Co. (VSCO) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 25.5%
- ✓Momentum leader: RS Rating 95 (top 5%)
- ✓High quality earnings: Operating CF exceeds net income
- ✓Trading near 52-week high
- ✓Efficient asset utilization: 1.3x turnover
✗Weaknesses
- ✗High debt to equity ratio of 3.1x
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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VSCO Price & Volume
Victoria's Secret & Co. (VSCO) stock price & volume — 10-year historical chart
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VSCO Growth Metrics
Victoria's Secret & Co. (VSCO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years3.9%
3 Years1.09%
TTM9.51%
Profit CAGR
10 Years-
5 Years-
3 Years-22.68%
TTM59.6%
EPS CAGR
10 Years-
5 Years-
3 Years-22.46%
TTM56.01%
Return on Capital
10 Years7.13%
5 Years15.26%
3 Years9.02%
Last Year8.91%
VSCO Recent Earnings
Victoria's Secret & Co. (VSCO) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 8/12 qtrs (67%)
Q3 2026Latest
Jun 2, 2026Metric
Actual
Est
EPS
$0.60+106.9%
$0.29
Rev
$1.6B+2.5%
$1.5B
Q2 2026
Mar 5, 2026Metric
Actual
Est
EPS
$2.77+11.7%
$2.48
Rev
$2.3B+1.7%
$2.2B
Q4 2025
Dec 5, 2025Metric
Actual
Est
EPS
$0.27+53.9%
$0.59
Rev
$1.5B+4.5%
$1.4B
Q3 2025
Aug 28, 2025Metric
Actual
Est
EPS
$0.33+153.8%
$0.13
Rev
$1.5B+4.1%
$1.4B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q3 2026Latest | Jun 2, 2026 | $0.60vs $0.29+106.9% | $1.6Bvs $1.5B+2.5% |
| Q2 2026 | Mar 5, 2026 | $2.77vs $2.48+11.7% | $2.3Bvs $2.2B+1.7% |
| Q4 2025 | Dec 5, 2025 | $0.27vs $0.59+53.9% | $1.5Bvs $1.4B+4.5% |
| Q3 2025 | Aug 28, 2025 | $0.33vs $0.13+153.8% | $1.5Bvs $1.4B+4.1% |
Based on last 12 quarters of dataView full earnings history →
VSCO Peer Comparison
Victoria's Secret & Co. (VSCO) competitors in Intimates and Lingerie Retailers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 AEO | 2.98B | 17.81 | 16.34 | 3.16% | 5% | 17.24% | 1.02 | |
 ANF | 3.92B | 87.24 | 8.34 | 6.42% | 9.34% | 36.48% | 0.82 | |
 CATO | 59.1M | 3.30 | -10.65 | 0.62% | 0.4% | 1.56% | 0.96 | |
 HAFC | 932.95M | 31.21 | 12.43 | 3.55% | 17.12% | 9.85% | 0.35 | |
 PVH | 3.55B | 77.07 | 145.42 | 3.44% | 0.25% | 0.45% | 0.90 | |
 HBI | 2.29B | 6.47 | -7.11 | -3.63% | 9.59% | 73.92% | 75.02 | |
 UA | 2.5B | 5.87 | -5.06 | -3.86% | -9.94% | -30.13% | 1.37 | |
 LULU | 12.69B | 111.77 | 8.43 | 4.86% | 13.03% | 31.26% | 0.36 |
Compare VSCO vs Peers
Victoria's Secret & Co. (VSCO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
VSCO Income Statement
Victoria's Secret & Co. (VSCO) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Jan'20 | Jan'21 | Jan'22 | Jan'23 | Jan'24 | Jan'25 | Jan'26 | TTM |
|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 7.51B | 5.41B | 6.79B | 6.34B | 6.18B | 6.23B | 6.55B | 6.86B |
Revenue Growth % | - | -27.91% | 25.35% | -6.5% | -2.55% | 0.78% | 5.19% | 9.51% |
Cost of Goods Sold | 5.45B | 3.84B | 4.03B | 4.09B | 3.94B | 3.95B | 4.17B | 4.26B |
COGS % of Revenue | 72.53% | 70.98% | 59.32% | 64.41% | 63.73% | 63.34% | 63.57% | - |
Gross Profit | 2.06B▲ 0% | 1.57B▼ 23.8% | 2.76B▲ 75.7% | 2.26B▼ 18.2% | 2.24B▼ 0.7% | 2.28B▲ 1.9% | 2.39B▲ 4.5% | 2.56B▲ 0% |
Gross Margin % | 27.47% | 29.02% | 40.68% | 35.59% | 36.27% | 36.66% | 36.43% | 37.38% |
Gross Profit Growth % | - | -23.85% | 75.68% | -18.19% | -0.71% | 1.87% | 4.53% | - |
Operating Expenses | 2.23B | 1.67B | 1.89B | 1.78B | 2B | 1.97B | 2.09B | 2.16B |
OpEx % of Revenue | 29.76% | 30.89% | 27.86% | 28.06% | 32.29% | 31.69% | 31.9% | - |
Selling, General & Admin | 2.23B | 1.67B | 1.89B | 1.74B | 2B | 1.97B | 2.07B | 2.16B |
SG&A % of Revenue | 29.76% | 30.89% | 27.86% | 27.49% | 32.29% | 31.69% | 31.61% | - |
Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
R&D % of Revenue | - | - | - | - | - | - | - | - |
Other Operating Expenses | 0 | 0 | 501K | 36M | 0 | 0 | 18.85M | 0 |
Operating Income | -892M▲ 0% | -101M▲ 88.7% | 870M▲ 961.4% | 478M▼ 45.1% | 246M▼ 48.5% | 310M▲ 26.0% | 296.89M▼ 4.2% | 374.14M▲ 0% |
Operating Margin % | -11.88% | -1.87% | 12.82% | 7.53% | 3.98% | 4.98% | 4.53% | 5.45% |
Operating Income Growth % | - | 88.68% | 961.39% | -45.06% | -48.54% | 26.02% | -4.23% | - |
EBITDA | -481M | 225M | 1.17B | 752M | 530M | 566M | 278.1M | 434.69M |
EBITDA Margin % | -6.41% | 4.16% | 17.29% | 11.85% | 8.57% | 9.09% | 4.24% | 6.34% |
EBITDA Growth % | - | 146.78% | 421.33% | -35.89% | -29.52% | 6.79% | -50.87% | -18.9% |
D&A (Non-Cash Add-back) | 411M | 326M | 303M | 274M | 284M | 256M | 0 | 123M |
EBIT | -891M | -100M | 870.12M | 477M | 246M | 307M | 278.1M | 337.37M |
Net Interest Income | -8M | -6M | -27M | -60M | -99M | -85.68M | -70.08M | -64.67M |
Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense | 8M | 6M | 27M | 60M | 99M | 86M | 70.08M | 67.55M |
Other Income/Expense | -7M | -5M | -27M | -61M | -99M | -89M | -88.87M | -66.19M |
Pretax Income | -899M▲ 0% | -106M▲ 88.2% | 843.12M▲ 895.4% | 417M▼ 50.5% | 147M▼ 64.7% | 221M▲ 50.3% | 208.02M▼ 5.9% | 266.87M▲ 0% |
Pretax Margin % | -11.97% | -1.96% | 12.43% | 6.57% | 2.38% | 3.55% | 3.17% | 3.89% |
Income Tax | -2M | -34M | 196.74M | 79M | 31M | 52M | 19.14M | 23.53M |
Effective Tax Rate % | 0.22% | 32.08% | 23.33% | 18.94% | 21.09% | 23.53% | 9.2% | 8.82% |
Net Income | -897M▲ 0% | -72M▲ 92.0% | 646M▲ 997.2% | 348M▼ 46.1% | 109M▼ 68.7% | 165M▲ 51.4% | 160.86M▼ 2.5% | 242.02M▲ 0% |
Net Margin % | -11.95% | -1.33% | 9.52% | 5.49% | 1.76% | 2.65% | 2.45% | 3.53% |
Net Income Growth % | - | 91.97% | 997.22% | -46.13% | -68.68% | 51.38% | -2.51% | 59.6% |
Net Income (Continuing) | -897M | -72M | 646M | 338M | 116M | 169M | 188.88M | 243.34M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 2M | 0 | 0 | 18M | 21M | 24M | 54M | 55M |
EPS (Diluted) | -9.70▲ 0% | -0.79▲ 91.9% | 7.18▲ 1008.9% | 4.14▼ 42.3% | 1.39▼ 66.4% | 2.04▲ 46.8% | 1.93▼ 5.4% | 2.85▲ 0% |
EPS Growth % | - | 91.86% | 1008.86% | -42.34% | -66.43% | 46.76% | -5.39% | 56.01% |
EPS (Basic) | -9.70 | -0.79 | 7.60 | 4.24 | 1.40 | 2.09 | 1.93 | - |
Diluted Shares Outstanding | 91.58M | 91.58M | 90M | 84M | 79M | 80.73M | 83.42M | 84.85M |
Basic Shares Outstanding | 92.51M | 91.58M | 85M | 82M | 78M | 79M | 83.42M | 84.84M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - |
VSCO Balance Sheet
Victoria's Secret & Co. (VSCO) balance sheet — assets, liabilities & shareholders' equity
| Metric | Jan'20 | Jan'21 | Jan'22 | Jan'23 | Jan'24 | Jan'25 | Jan'26 | TTM |
|---|---|---|---|---|---|---|---|---|
Total Current Assets | 1.36B | 1.24B | 1.69B | 1.74B | 1.53B | 1.44B | 1.88B | 1.63B |
Cash & Short-Term Investments | 245M | 335M | 490M | 427M | 270M | 227M | 518M | 207M |
Cash Only | 245M | 335M | 490M | 427M | 270M | 227M | 518M | 207M |
Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accounts Receivable | 157M | 121M | 162M | 141M | 152M | 159M | 186M | 185M |
Days Sales Outstanding | 7.63 | 8.16 | 8.71 | 8.11 | 8.97 | 9.32 | 10.36 | 9.67 |
Inventory | 855M | 701M | 949M | 1.05B | 985M | 955M | 1.07B | 1.1B |
Days Inventory Outstanding | 57.3 | 66.6 | 86.06 | 93.97 | 91.25 | 88.34 | 93.84 | 98.54 |
Other Current Assets | 52M | 56M | 90M | 117M | 126M | 100M | 108M | 136M |
Total Non-Current Assets | 3.91B | 2.99B | 2.65B | 2.97B | 3.07B | 3.09B | 3.13B | 3.14B |
Property, Plant & Equipment | 3.56B | 2.67B | 2.33B | 2.08B | 2.19B | 2.25B | 2.36B | 2.39B |
Fixed Asset Turnover | 2.11x | 2.03x | 2.92x | 3.05x | 2.82x | 2.76x | 2.77x | 2.89x |
Goodwill | 0 | 0 | 0 | 365M | 367M | 367M | 367M | 367M |
Intangible Assets | 246M | 246M | 246M | 426M | 400M | 376M | 246M | 246M |
Long-Term Investments | 38M | 35M | 35M | 56M | 60M | 47M | 53M | 201M |
Other Non-Current Assets | 40M | 21M | 29M | 31M | 26M | 24M | 37M | 283M |
Total Assets | 5.27B▲ 0% | 4.23B▼ 19.8% | 4.34B▲ 2.7% | 4.71B▲ 8.4% | 4.6B▼ 2.4% | 4.53B▼ 1.5% | 5.01B▲ 10.6% | 4.77B▲ 0% |
Asset Turnover | 1.42x | 1.28x | 1.56x | 1.35x | 1.34x | 1.37x | 1.31x | 1.40x |
Asset Growth % | - | -19.75% | 2.72% | 8.45% | -2.36% | -1.48% | 10.61% | 21.68% |
Total Current Liabilities | 1.44B | 1.56B | 1.7B | 1.58B | 1.61B | 1.38B | 1.51B | 1.29B |
Accounts Payable | 384M | 338M | 538M | 481M | 513M | 419M | 493M | 412M |
Days Payables Outstanding | 25.74 | 32.11 | 48.79 | 42.97 | 47.52 | 38.76 | 43.19 | 41.33 |
Short-Term Debt | 61M | 0 | 4M | 4M | 4M | 4M | 299M | 268M |
Deferred Revenue (Current) | 238M | 246M | 250M | 291M | 295M | 256M | 0 | 248M |
Other Current Liabilities | 155M | 211M | 312M | 388M | 380M | 47M | 673M | 573M |
Current Ratio | 0.94x | 0.80x | 1.00x | 1.10x | 0.95x | 1.05x | 1.25x | 1.26x |
Quick Ratio | 0.35x | 0.35x | 0.44x | 0.43x | 0.34x | 0.35x | 0.54x | 0.41x |
Cash Conversion Cycle | 39.2 | 42.65 | 45.99 | 59.12 | 52.7 | 58.89 | 61 | 66.88 |
Total Non-Current Liabilities | 2.52B | 1.78B | 2.39B | 2.73B | 2.55B | 2.49B | 2.6B | 2.64B |
Long-Term Debt | 92M | 97M | 978M | 1.27B | 1.12B | 973M | 971M | 2.58B |
Capital Lease Obligations | 2.16B | 1.55B | 1.31B | 1.2B | 1.31B | 1.43B | 1.58B | 6.29B |
Deferred Tax Liabilities | 89M | 19M | 58M | 53M | 37M | 11M | 5M | 37M |
Other Non-Current Liabilities | 177M | 113M | 31M | 188M | 64M | 75M | 35M | 43M |
Total Liabilities | 3.96B | 3.34B | 4.09B | 4.31B | 4.16B | 3.87B | 4.1B | 3.92B |
Total Debt | 2.65B | 2.07B | 2.64B | 2.79B | 2.7B | 2.7B | 2.85B | 2.85B |
Net Debt | 2.41B | 1.74B | 2.15B | 2.36B | 2.43B | 2.47B | 2.33B | 2.64B |
Debt / Equity | 2.02x | 2.32x | 10.26x | 6.95x | 6.17x | 4.06x | 3.13x | 3.37x |
Debt / EBITDA | - | 9.20x | 2.25x | 3.70x | 5.10x | 4.77x | 10.23x | 6.56x |
Net Debt / EBITDA | - | 7.72x | 1.83x | 3.14x | 4.59x | 4.37x | 8.37x | 6.08x |
Interest Coverage | -111.38x | -16.67x | 32.23x | 7.95x | 2.48x | 3.57x | 3.97x | 4.99x |
Total Equity | 1.31B▲ 0% | 891M▼ 32.2% | 257M▼ 71.2% | 401M▲ 56.0% | 438M▲ 9.2% | 664M▲ 51.6% | 910M▲ 37.0% | 845M▲ 0% |
Equity Growth % | - | -32.19% | -71.16% | 56.03% | 9.23% | 51.6% | 37.05% | 158.43% |
Book Value per Share | 14.35 | 9.73 | 2.86 | 4.77 | 5.54 | 8.23 | 10.91 | 9.96 |
Total Shareholders' Equity | 1.31B | 891M | 257M | 383M | 417M | 640M | 856M | 790M |
Common Stock | 1.34B | 887M | 1M | 1M | 1M | 1M | 1M | 1M |
Retained Earnings | 0 | 0 | 126M | 186M | 178M | 343M | 504M | 461M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | -29M | 4M | 5M | 1M | 0 | -1M | 6M | 6M |
Minority Interest | 2M | 0 | 0 | 18M | 21M | 24M | 54M | 55M |
VSCO Cash Flow Statement
Victoria's Secret & Co. (VSCO) cash flow — operating, investing & free cash flow history
| Metric | Jan'20 | Jan'21 | Jan'22 | Jan'23 | Jan'24 | Jan'25 | Jan'26 | TTM |
|---|---|---|---|---|---|---|---|---|
Cash from Operations | 315M | 674M | 851M | 437M | 389M | 425M | 499M | 512M |
Operating CF Margin % | 4.2% | 12.45% | 12.54% | 6.89% | 6.29% | 6.82% | 7.61% | - |
Operating CF Growth % | - | 113.97% | 26.26% | -48.65% | -10.98% | 9.25% | 17.41% | 71.59% |
Net Income | -897M | -72M | 646M | 348M | 109M | 165M | 189M | 242.02M |
Depreciation & Amortization | 411M | 326M | 303M | 274M | 284M | 258M | 238M | 227M |
Stock-Based Compensation | 38M | 25M | 33M | 48M | 56M | 60M | 55M | 28M |
Deferred Taxes | -30M | -64M | 1M | -28M | -16M | -29M | -49M | -43M |
Other Non-Cash Items | 983M | 161M | 0 | -10M | 36M | -23M | 119M | 178.68M |
Working Capital Changes | -190M | 298M | -132M | -195M | -80M | -6M | -53M | -91M |
Change in Receivables | 14M | 36M | -21M | 22M | -13M | -8M | -24M | -30M |
Change in Inventory | 20M | 141M | -247M | 0 | 36M | 29M | -112M | -52M |
Change in Payables | -118M | 49M | 173M | -163M | -11M | -78M | 114M | 31M |
Cash from Investing | -243M | -123M | -169M | -555M | -254M | -153M | -184M | -195M |
Capital Expenditures | -225M | -127M | -169M | -164M | -256M | -178M | -187M | -198M |
CapEx % of Revenue | 3% | 2.35% | 2.49% | 2.59% | 4.14% | 2.86% | 2.85% | 2.89% |
Acquisitions | 0 | 0 | 0 | -387M | 1M | 25M | 0 | 0 |
Investments | - | - | - | - | - | - | - | - |
Other Investing | -18M | 4M | 0 | -4M | 1M | 0 | 3M | 3M |
Cash from Financing | -192M | -465M | -527M | 58M | -291M | -315M | -24M | -251M |
Debt Issued (Net) | 5M | -58M | 981M | 291M | -154M | -149M | -4M | -94M |
Equity Issued (Net) | 0 | 0 | -245M | -245M | -122M | -10M | 4M | -96M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | -250M | -250M | -125M | -10M | 0 | -100M |
Other Financing | -197M | -407M | -1.26B | 12M | -15M | -156M | -24M | -61M |
Net Change in Cash | -124M▲ 0% | 90M▲ 172.6% | 155M▲ 72.2% | -63M▼ 140.6% | -157M▼ 149.2% | -43M▲ 72.6% | 291M▲ 776.7% | 69M▲ 0% |
Free Cash Flow | 90M▲ 0% | 547M▲ 507.8% | 682M▲ 24.7% | 273M▼ 60.0% | 133M▼ 51.3% | 247M▲ 85.7% | 312M▲ 26.3% | 35M▲ 0% |
FCF Margin % | 1.2% | 10.11% | 10.05% | 4.3% | 2.15% | 3.96% | 4.76% | 0.51% |
FCF Growth % | - | 507.78% | 24.68% | -59.97% | -51.28% | 85.71% | 26.32% | -85.54% |
FCF per Share | 0.98 | 5.97 | 7.58 | 3.25 | 1.68 | 3.06 | 3.74 | 0.41 |
FCF Conversion (FCF/Net Income) | -0.35x | -9.36x | 1.32x | 1.26x | 3.57x | 2.58x | 3.10x | 0.14x |
Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
VSCO Key Ratios
Victoria's Secret & Co. (VSCO) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | -6.53% | 112.54% | 105.78% | 25.98% | 29.95% | 20.44% | 29.43% |
Return on Invested Capital (ROIC) | -2.39% | 25.94% | 13.89% | 6.55% | 7.74% | 6.99% | 7.34% |
Gross Margin | 29.02% | 40.68% | 35.59% | 36.27% | 36.66% | 36.43% | 37.38% |
Net Margin | -1.33% | 9.52% | 5.49% | 1.76% | 2.65% | 2.45% | 3.53% |
Debt / Equity | 2.32x | 10.26x | 6.95x | 6.17x | 4.06x | 3.13x | 3.37x |
Interest Coverage | -16.67x | 32.23x | 7.95x | 2.48x | 3.57x | 3.97x | 4.99x |
FCF Conversion | -9.36x | 1.32x | 1.26x | 3.57x | 2.58x | 3.10x | 0.14x |
Revenue Growth | -27.91% | 25.35% | -6.5% | -2.55% | 0.78% | 5.19% | 9.51% |
Related:VSCO Dividend History·VSCO Revenue History·VSCO Price History·VSCO P/E History·VSCO Financial Ratios·VSCO Institutional Holders
VSCO SEC Filings & Documents
Victoria's Secret & Co. (VSCO) SEC filings — annual & quarterly reports (10-K, 10-Q)
VSCO Frequently Asked Questions
Victoria's Secret & Co. (VSCO) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Victoria's Secret & Co. (VSCO) reported $6.86B in revenue for fiscal year 2025. This represents a 9% decrease from $7.51B in 2019.
Victoria's Secret & Co. (VSCO) grew revenue by 5.2% over the past year. This is steady growth.
Yes, Victoria's Secret & Co. (VSCO) is profitable, generating $242.0M in net income for fiscal year 2025 (2.5% net margin).
Dividend & Returns
Victoria's Secret & Co. (VSCO) has a return on equity (ROE) of 20.4%. This is excellent, indicating efficient use of shareholder capital.
Victoria's Secret & Co. (VSCO) generated $35.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.