Victorias Secret & (VSXY) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Victorias Secret &

NYSE•Consumer Cyclical•Apparel Retail

$77.24-0.24(<0.01%)Market open

Market Cap

$6.18B

P/E

15.0x

P/S

0.9x

P/B

6.2x

Victoria's Secret & Co. operates as a specialty retailer of women's intimate, and other apparel and beauty products worldwide. The company offers bras, panties, lingerie, casual sleepwear, apparel, lounge, sport, and swim products, as well as prestige fragrances and body care products; and accessories and beauty products under the Victoria's Secret, PINK, and Adore Me brands. It provides its products through its retail stores; websites, such as VictoriasSecret.com, PINK.com, AdoreMe.com, and DailyLook.com; and other digital channels. The company also operates stores under the franchise, license, and wholesale arrangements. Victoria's Secret & Co. was incorporated in 2021 and is based in Reynoldsburg, Ohio.

How this company scores

ExcellentMetricSide Score: 81/100

Strongest: Growth (22/25); weakest: Balance Sheet & Red Flags (17/25).

Profitability21/25

Growth22/25

Balance Sheet & Red Flags17/25

Cash & Earnings Quality21/25

Strengths

Rising free cash flowHigh ROERising earningsCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 15.0x5y range 4.8x – 23.1x

Currently above its 18-quarter median.

P/S · 0.9x5y range 0.2x – 0.9x

Currently above its 18-quarter median.

P/B · 6.2x5y range 2.2x – 19.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $6.18B

Metrics at a Glance

as of August 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $6.91B
Q. Revenue: $1.61B
TTM EBITDA: $761.00M
TTM Op. Income: $543.00M
Q. Op. Income: $257.00M
TTM Net Income: $413.00M
Q. Net Income: $188.00M
EPS: $2.29
Shares Out.: $80.00M

$6.91B in TTM revenue grew 10.3% YoY, reaching $1.61B last quarter. TTM EBITDA of $761.00M and TTM operating income of $543.00M show growth is flowing through to the bottom line. TTM net income of $413.00M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 5 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 68.4%
EBITDA Margin: 19.1%
Op. Margin: 16.0%
Net Margin: 11.7%

Op. margin of 16.0% is up 13.1% YoY — cost efficiency is improving. Net margin at 11.7% and gross margin of 68.4% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 468% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 15.0x
P/S Ratio: 0.9x
P/B Ratio: 6.2x

At 15.0x P/E, the stock trades below typical market levels. P/S of 0.9x and P/B of 6.2x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.16B
Cash: $522.00M
Long-Term Debt: $971.00M
Book Value: $990.00M
D/E Ratio: 1.0
Debt/EBITDA: 3.2

With $5.16B in assets and $971.00M in long-term debt, D/E is 1.0and book value is $990.00M — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 36% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $402.00M
TTM Free Cash Flow: $554.00M
FCF Margin: 8.0%
FCF / Net Income: 1.3

TTM FCF of $554.00M on $402.00M in operating cash flow. The FCF / Net Income ratio of 1.3x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 5 consecutive quarters — an improving trend.