Victoria's Secret & Company (VSXY) quarterly cash flow statement — complete operating, investing & financing history
Victoria's Secret & Company (VSXY) cash flow statement — 7-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 402M | -137M | 673M | -180M | 156M | -150M | 674M | -248M | 115M | -116M | 589M | -181M | 89M | -108M | 716M | -228M | 95M | -146M | 473M | -11M |
| Operating CF Margin % | 24.96% | -8.78% | 29.66% | -12.23% | 10.69% | -11.09% | 32% | -18.41% | 8.12% | -8.54% | 28.28% | -14.31% | 6.24% | -7.68% | 35.43% | -17.3% | 6.25% | -9.84% | 21.74% | -0.76% |
| Operating CF Growth % | 157.69% | 8.67% | -0.15% | - | - | - | - | -37.02% | 29.21% | -7.41% | -17.74% | 20.61% | -6.32% | 26.03% | 51.37% | -1972.73% | -66.9% | -243.14% | -22.84% | -106.43% |
| Net Income | 183M | 57M | 200M | -32M | 18M | 3M | 194M | -56M | 33M | -4M | 181.09M | -71M | -1M | 4M | 172M | 24M | 70M | 76M | 246M | 75M |
| Depreciation & Amortization | 51M | 54M | 53M | 60M | 63M | 62M | 66M | 63M | 64M | 65M | 68M | 71M | 72M | 73M | 66M | 68M | 70M | 70M | 70M | 75M |
| Stock-Based Compensation | 0 | 13M | 14M | 12M | 15M | 14M | 15M | 13M | 16M | 16M | 15M | 14M | 13M | 14M | 10M | 12M | 8M | 12M | 9M | 4M |
| Deferred Taxes | 2M | 11M | -51M | -1M | -2M | 5M | -30M | -2M | -2M | 5M | -23M | -1M | -2M | 10M | -25M | -1M | -7M | 5M | -57M | -1M |
| Other Non-Cash Items | 21M | 0 | 119M | 0 | 0 | 0 | -21M | 1M | -6M | 1M | 9.91M | 7M | 6M | 9M | 0 | 11M | 11M | 7M | 84.95M | 9M |
| Working Capital Changes | 145M | -272M | 338M | -219M | 62M | -234M | 450M | -267M | 10M | -199M | 338M | -201M | 1M | -218M | 493M | -330M | -49M | -309M | 205M | -169M |
| Change in Receivables | 13M | 2M | 5M | -25M | -12M | 8M | 3M | -5M | -6M | 0 | -13M | 1M | -15M | 14M | 45M | -35M | 2M | 10M | -17M | 0 |
| Change in Inventory | -50M | -26M | 308M | -320M | -14M | -86M | 334M | -271M | -32M | -2M | 220M | -179M | -7M | 2M | 298M | -160M | 0 | -98M | 71M | 0 |
| Change in Payables | 118M | -181M | -18M | 113M | 117M | -98M | -23M | 44M | 75M | -174M | 111M | -16M | 74M | -180M | 66M | -92M | 63M | -200M | 10M | 249M |
| Cash from Investing | -74M | -54M | -21M | -52M | -68M | -43M | -20M | -50M | -44M | -39M | -31M | -80M | -88M | -55M | -405M | -67M | -35M | -48M | -52M | -51M |
| Capital Expenditures | -74M | -54M | -24M | -52M | -68M | -43M | -28M | -51M | -60M | -39M | -32M | -80M | -89M | -55M | -39M | -67M | -37M | -21M | -52M | -51M |
| CapEx % of Revenue | 4.59% | 3.46% | 1.06% | 3.53% | 4.66% | 3.18% | 1.33% | 3.79% | 4.23% | 2.87% | 1.54% | 6.32% | 6.24% | 3.91% | 1.93% | 5.08% | 2.43% | 1.42% | 2.39% | 3.54% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1M | 0 | -369M | 0 | 0 | -18M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 3M | 0 | 0 | 0 | 8M | 1M | 16M | 0 | 1M | 0 | 0 | 0 | 3M | -67M | 2M | -9M | 0 | 0 |
| Cash from Financing | -15M | -121M | -384M | 293M | -39M | 106M | -587M | 289M | -7M | -10M | -413M | 255M | -1M | -132M | -9M | 220M | -62M | -91M | -261M | -499M |
| Debt Issued (Net) | -16M | 14M | -376M | 299M | -31M | 104M | -441M | 294M | -1M | -1M | -411M | 259M | -1M | -1M | 27M | 266M | -1M | -1M | -1M | 382M |
| Equity Issued (Net) | 3M | -100M | 2M | 0 | 0 | 0 | 5M | -1M | -1M | -7M | -2M | -1M | 0 | -125M | -36M | -45M | -59M | -106M | -248M | -3M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -100M | 0 | 0 | 0 | 0 | 0 | -1M | -1M | -7M | -2M | -1M | 0 | -125M | -36M | -45M | -60M | -109M | -250M | -3M |
| Other Financing | -2M | -35M | -10M | -6M | -8M | 2M | -151M | -4M | -5M | -2M | 0 | -3M | 0 | -6M | -1M | -1M | -1M | 18M | -12M | -881M |
| Net Change in Cash | 315M | -311M | 269M | 61M | 50M | -89M | 66M | -8M | 64M | -165M | 146M | -7M | -1M | -295M | 301M | -75M | -3M | -286M | 159M | -562M |
| Free Cash Flow | 328M | -191M | 649M | -232M | 88M | -193M | 646M | -299M | 55M | -155M | 557M | -261M | 0 | -163M | 677M | -295M | 58M | -167M | 421M | -62M |
| FCF Margin % | 20.36% | -12.25% | 28.6% | -15.76% | 6.03% | -14.26% | 30.67% | -22.2% | 3.88% | -11.41% | 26.74% | -20.63% | - | -11.58% | 33.5% | -22.38% | 3.81% | -11.25% | 19.35% | -4.3% |
| FCF Growth % | 272.73% | 1.04% | 0.46% | - | - | - | - | -14.56% | - | 4.91% | -17.73% | 11.53% | -100% | 2.4% | 60.81% | -375.81% | -75.83% | -301.2% | -29.48% | -147.69% |
| FCF per Share | 3.90 | -2.25 | 7.56 | -2.86 | 1.07 | -2.33 | 7.77 | -3.78 | 0.69 | -1.99 | 7.06 | -3.39 | - | -2.04 | 8.23 | -3.55 | 0.69 | -1.92 | 4.62 | -0.67 |
| FCF Conversion (FCF/Net Income) | 2.20x | -2.87x | 3.66x | 4.86x | 9.75x | 75.00x | 3.49x | 4.43x | 3.59x | 29.00x | 3.25x | 2.55x | -89.00x | -108.00x | 4.14x | -9.50x | 1.36x | -1.80x | 1.92x | -0.15x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |