Victoria's Secret & Co. (VSCO) Financials

$50.78 +0.50 (+1.00%)

Closing price 05/5/2026 03:59 PM Eastern

Extended Trading

$51.82 +1.04 (+2.05%)

As of 05/5/2026 07:59 PM Eastern

Annual Income Statements for Victoria's Secret & Co.

This table shows Victoria's Secret & Co.'s income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025	1/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-897	-72	646	348	109	165	161
Consolidated Net Income / (Loss)	-897	-72	646	338	116	169	189
Net Income / (Loss) Continuing Operations	-897	-72	646	338	116	169	189
Total Pre-Tax Income	-899	-106	843	417	147	221	208
Total Operating Income	-892	-101	870	478	246	310	271
Total Gross Profit	2,063	1,571	2,760	2,258	2,242	2,284	2,384
Total Revenue	7,509	5,413	6,785	6,344	6,182	6,230	6,553
Operating Revenue	7,509	5,413	6,785	6,344	6,182	6,230	6,553
Total Cost of Revenue	5,446	3,842	4,025	4,086	3,940	3,946	4,169
Operating Cost of Revenue	5,446	3,842	4,025	4,086	3,940	3,946	4,169
Total Operating Expenses	2,955	1,672	1,890	1,780	1,996	1,974	2,113
Selling, General & Admin Expense	2,235	1,672	1,890	1,780	1,996	1,974	2,113
Total Other Income / (Expense), net	-7.00	-5.00	-27	-61	-99	-89	-63
Interest Expense	8.00	6.00	27	60	99	86	70
Other Income / (Expense), net	1.00	1.00	0.00	-1.00	0.00	-3.00	7.00
Income Tax Expense	-2.00	-34	197	79	31	52	19
Net Income / (Loss) Attributable to Noncontrolling Interest	-	0.00	0.00	-10	7.00	4.00	28
Basic Earnings per Share	($10.16)	($0.82)	$7.34	$4.24	$1.41	$2.11	$2.00
Weighted Average Basic Shares Outstanding	-	-	84.31M	77.75M	77.58M	78.89M	80.47M
Diluted Earnings per Share	($10.16)	($0.82)	$7.18	$4.14	$1.39	$2.05	$1.93
Weighted Average Diluted Shares Outstanding	-	-	84.31M	77.75M	77.58M	78.89M	80.47M
Weighted Average Basic & Diluted Shares Outstanding	-	-	84.31M	77.75M	77.58M	78.89M	80.47M

This table shows Victoria's Secret & Co.'s income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	11/1/2025	1/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-1.00	-71	180	-4.00	32	-56	193	-2.00	16	-37	184
Consolidated Net Income / (Loss)	-1.00	-71	184	-3.00	32	-55	195	3.00	18	-31	199
Net Income / (Loss) Continuing Operations	-1.00	-71	184	-3.00	32	-55	195	3.00	18	-31	199
Total Pre-Tax Income	2.00	-93	232	5.00	41	-70	245	6.00	24	-37	215
Total Operating Income	26	-67	259	26	62	-47	269	20	41	-19	229
Total Gross Profit	487	427	826	501	501	468	814	474	519	536	855
Total Revenue	1,427	1,265	2,083	1,359	1,417	1,347	2,107	1,353	1,459	1,472	2,269
Operating Revenue	1,427	1,265	2,083	1,359	1,417	1,347	2,107	1,353	1,459	1,472	2,269
Total Cost of Revenue	940	838	1,257	858	916	879	1,293	879	940	936	1,414
Operating Cost of Revenue	940	838	1,257	858	916	879	1,293	879	940	936	1,414
Total Operating Expenses	461	494	567	475	439	515	545	454	478	555	626
Selling, General & Admin Expense	461	494	567	475	439	515	545	454	478	555	626
Total Other Income / (Expense), net	-24	-26	-27	-21	-21	-23	-24	-14	-17	-18	-14
Interest Expense	24	26	27	22	21	22	21	17	18	18	17
Other Income / (Expense), net	0.00	0.00	-	1.00	0.00	-1.00	-3.00	3.00	1.00	0.00	3.00
Income Tax Expense	3.00	-22	48	8.00	9.00	-15	50	3.00	6.00	-6.00	16
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.00	4.00	1.00	0.00	1.00	2.00	5.00	2.00	6.00	15
Basic Earnings per Share	($0.02)	($0.92)	$2.34	($0.05)	$0.41	($0.71)	$2.46	($0.02)	$0.20	($0.46)	$2.28
Weighted Average Basic Shares Outstanding	77.27M	77.43M	77.58M	78.30M	78.53M	78.62M	78.89M	79.85M	80.16M	80.27M	80.47M
Diluted Earnings per Share	($0.02)	($0.92)	$2.32	($0.05)	$0.40	($0.71)	$2.41	($0.02)	$0.20	($0.46)	$2.21
Weighted Average Diluted Shares Outstanding	77.27M	77.43M	77.58M	78.30M	78.53M	78.62M	78.89M	79.85M	80.16M	80.27M	80.47M
Weighted Average Basic & Diluted Shares Outstanding	77.27M	77.43M	77.58M	78.30M	78.53M	78.62M	78.89M	79.85M	80.16M	80.27M	80.47M

This table details how cash moves in and out of Victoria's Secret & Co.'s business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025	1/31/2026
Net Change in Cash & Equivalents	-124	90	155	-63	-157	-43	291
Net Cash From Operating Activities	315	674	851	437	389	425	499
Net Cash From Continuing Operating Activities	315	674	851	437	389	425	500
Net Income / (Loss) Continuing Operations	-897	-72	646	338	116	169	189
Consolidated Net Income / (Loss)	-897	-72	646	338	116	169	189
Depreciation Expense	411	326	303	274	284	258	238
Amortization Expense	-	-	0.00	0.00	29	0.00	0.00
Non-Cash Adjustments To Reconcile Net Income	1,021	186	33	48	56	33	175
Changes in Operating Assets and Liabilities, net	-220	234	-131	-223	-96	-35	-102
Net Cash From Investing Activities	-243	-123	-169	-555	-254	-153	-184
Net Cash From Continuing Investing Activities	-243	-123	-169	-555	-254	-153	-184
Purchase of Property, Plant & Equipment	-225	-127	-169	-164	-256	-178	-187
Acquisitions	-	0.00	0.00	-387	1.00	0.00	0.00
Sale of Property, Plant & Equipment	-	-	-	0.00	0.00	25	0.00
Other Investing Activities, net	-18	4.00	0.00	-4.00	1.00	0.00	3.00
Net Cash From Financing Activities	-192	-465	-527	58	-291	-315	-24
Net Cash From Continuing Financing Activities	-192	-465	-527	58	-291	-315	-24
Repayment of Debt	-162	-189	975	-5.00	-622	-609	-554
Repurchase of Common Equity	0.00	0.00	-250	-250	-125	0.00	0.00
Issuance of Debt	167	34	0.00	295	465	460	545
Other Financing Activities, net	-197	-310	-1,252	-37	-9.00	-166	-15
Effect of Exchange Rate Changes	-4.00	-	0.00	-3.00	-1.00	0.00	0.00

This table details how cash moves in and out of Victoria's Secret & Co.'s business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	11/1/2025	1/31/2026
Net Change in Cash & Equivalents	-1.00	-7.00	146	-165	64	-8.00	66	-89	50	61	269
Net Cash From Operating Activities	89	-181	589	-116	115	-248	674	-150	156	-180	673
Net Cash From Continuing Operating Activities	89	-181	589	-116	115	-248	674	-150	156	-180	674
Net Income / (Loss) Continuing Operations	-1.00	-71	184	-3.00	33	-55	194	3.00	18	-32	200
Consolidated Net Income / (Loss)	-1.00	-71	184	-3.00	33	-55	194	3.00	18	-32	200
Depreciation Expense	72	71	68	65	64	63	66	62	63	60	53
Non-Cash Adjustments To Reconcile Net Income	13	14	15	16	10	13	-6.00	14	15	12	134
Changes in Operating Assets and Liabilities, net	-1.00	-202	315	-194	8.00	-269	420	-229	60	-220	287
Net Cash From Investing Activities	-88	-80	-31	-39	-44	-50	-20	-43	-68	-52	-21
Net Cash From Continuing Investing Activities	-88	-80	-31	-39	-44	-50	-20	-43	-68	-52	-21
Purchase of Property, Plant & Equipment	-89	-80	-32	-39	-60	-51	-28	-43	-68	-52	-24
Other Investing Activities, net	-	-	1.00	-	-	-	-1.00	-	-	-	3.00
Net Cash From Financing Activities	-1.00	255	-413	-10	-7.00	289	-587	106	-39	293	-384
Net Cash From Continuing Financing Activities	-1.00	255	-413	-10	-7.00	289	-587	106	-39	293	-384
Repayment of Debt	-101	-34	-471	-77	-61	-25	-446	-44	-125	-5.00	-380
Other Financing Activities, net	-	-1.00	-2.00	-23	-1.00	-1.00	-141	-10	1.00	-2.00	-4.00
Effect of Exchange Rate Changes	-1.00	-1.00	1.00	0.00	-	1.00	-	-2.00	1.00	-	1.00

This table presents Victoria's Secret & Co.'s assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025	1/31/2026
Total Assets	4,229	4,344	4,711	4,600	4,532	5,013
Total Current Assets	1,239	1,691	1,737	1,533	1,441	1,883
Cash & Equivalents	335	490	427	270	227	518
Accounts Receivable	121	162	141	152	159	186
Inventories, net	701	949	1,052	985	955	1,071
Other Current Assets	82	90	117	126	100	108
Plant, Property, & Equipment, net	1,078	957	846	843	774	731
Total Noncurrent Assets	1,912	1,696	2,128	2,224	2,317	2,399
Goodwill	-	0.00	365	367	367	367
Intangible Assets	246	246	426	400	376	246
Noncurrent Deferred & Refundable Income Taxes	20	17	18	20	22	65
Other Noncurrent Operating Assets	1,646	1,433	1,319	1,437	1,552	1,721
Total Liabilities & Shareholders' Equity	4,229	4,344	4,711	4,600	4,532	5,013
Total Liabilities	3,338	4,087	4,310	4,162	3,868	4,103
Total Current Liabilities	1,556	1,698	1,579	1,614	1,375	1,507
Short-Term Debt	0.00	4.00	4.00	4.00	4.00	4.00
Accounts Payable	338	538	481	513	419	493
Accrued Expenses	782	714	737	810	633	673
Current Deferred & Payable Income Tax Liabilities	15	102	47	20	32	42
Other Current Liabilities	421	340	310	267	287	295
Total Noncurrent Liabilities	1,782	2,389	2,731	2,548	2,493	2,596
Long-Term Debt	97	978	1,271	1,120	973	971
Noncurrent Deferred & Payable Income Tax Liabilities	19	58	53	37	11	5.00
Other Noncurrent Operating Liabilities	1,666	1,353	1,407	1,391	1,509	1,620
Total Equity & Noncontrolling Interests	891	257	401	438	664	910
Total Preferred & Common Equity	891	257	383	417	640	856
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	891	257	383	417	640	856
Common Stock	0.00	126	196	239	298	346
Retained Earnings	0.00	126	186	178	343	504
Accumulated Other Comprehensive Income / (Loss)	4.00	5.00	1.00	0.00	-1.00	6.00
Noncontrolling Interest	-	0.00	18	21	24	54

This table presents Victoria's Secret & Co.'s assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	10/29/2022	4/29/2023	7/29/2023	10/28/2023	5/4/2024	8/3/2024	11/2/2024	5/3/2025	8/2/2025	11/1/2025
Total Assets	4,142	4,405	4,525	4,687	4,384	4,635	4,921	4,580	4,755	5,134
Total Current Assets	1,709	1,435	1,478	1,636	1,393	1,488	1,786	1,455	1,539	1,945
Cash & Equivalents	126	132	131	124	105	169	161	138	188	249
Accounts Receivable	184	126	140	139	152	158	163	153	166	190
Inventories, net	1,242	1,041	1,040	1,211	987	1,019	1,290	1,043	1,058	1,377
Other Current Assets	157	136	167	162	149	142	172	121	127	129
Plant, Property, & Equipment, net	855	834	855	871	805	810	806	763	777	766
Total Noncurrent Assets	1,578	2,136	2,192	2,180	2,186	2,337	2,329	2,362	2,439	2,423
Goodwill	0.00	368	365	365	367	367	367	367	367	367
Intangible Assets	246	420	413	407	394	388	381	369	363	357
Noncurrent Deferred & Refundable Income Taxes	20	16	16	15	20	19	19	23	22	22
Other Noncurrent Operating Assets	1,312	1,332	1,398	1,393	1,405	1,563	1,562	1,603	1,687	1,677
Total Liabilities & Shareholders' Equity	4,142	4,405	4,525	4,687	4,384	4,635	4,921	4,580	4,755	5,134
Total Liabilities	3,890	4,118	4,225	4,449	3,939	4,141	4,468	3,907	4,045	4,445
Total Current Liabilities	1,332	1,369	1,407	1,368	1,435	1,494	1,526	1,256	1,345	1,491
Short-Term Debt	4.00	4.00	4.00	4.00	4.00	4.00	4.00	4.00	4.00	4.00
Accounts Payable	397	388	529	449	412	475	464	423	480	546
Accrued Expenses	618	649	578	625	755	752	801	543	600	646
Current Deferred & Payable Income Tax Liabilities	8.00	30	3.00	2.00	18	6.00	5.00	26	3.00	11
Other Current Liabilities	305	298	293	288	246	257	252	260	258	284
Total Noncurrent Liabilities	2,558	2,749	2,818	3,081	2,504	2,647	2,942	2,651	2,700	2,954
Long-Term Debt	1,244	1,271	1,270	1,530	1,119	1,119	1,414	1,078	1,048	1,347
Noncurrent Deferred & Payable Income Tax Liabilities	59	62	61	60	42	40	38	16	14	13
Other Noncurrent Operating Liabilities	1,255	1,416	1,487	1,491	1,343	1,488	1,490	1,557	1,638	1,594
Total Equity & Noncontrolling Interests	252	287	300	238	445	494	453	673	710	689
Total Preferred & Common Equity	235	265	279	220	423	472	429	645	680	653
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	235	265	279	220	423	472	429	645	680	653
Common Stock	188	174	211	224	249	266	279	303	321	331
Retained Earnings	47	92	68	-3.00	174	206	150	341	357	320
Accumulated Other Comprehensive Income / (Loss)	0.00	-1.00	0.00	-1.00	0.00	0.00	0.00	1.00	2.00	2.00
Noncontrolling Interest	17	22	21	18	22	22	24	28	30	36

This table displays calculated financial ratios and metrics derived from Victoria's Secret & Co.'s official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025	1/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	80,268,924.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	80,268,924.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	2.01
Growth Metrics	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	-624	-71	667	387	194	237	246
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	23.12%	12.43%	14.45%	13.06%
Earnings before Interest and Taxes (EBIT)	-891	-100	870	477	246	307	278
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-480	226	1,173	751	559	565	516
Valuation Ratios	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-724	571	-113	151	115	293
Efficiency Ratios	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	653	749	1,249	1,292	1,414	1,367
Increase / (Decrease) in Invested Capital	0.00	653	96	500	43	122	-47
Book Value per Share	$0.00	$0.00	$2.90	$4.74	$5.39	$8.14	$10.66
Tangible Book Value per Share	$0.00	$0.00	$0.12	($5.05)	($4.52)	($1.31)	$3.03
Total Capital	0.00	988	1,239	1,676	1,562	1,641	1,885
Total Debt	0.00	97	982	1,275	1,124	977	975
Total Long-Term Debt	0.00	97	978	1,271	1,120	973	971
Net Debt	0.00	-238	492	848	854	750	457
Capital Expenditures (CapEx)	225	127	169	164	256	153	187
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-652	-493	-265	-347	-157	-138
Debt-free Net Working Capital (DFNWC)	0.00	-317	-3.00	162	-77	70	380
Net Working Capital (NWC)	0.00	-317	-7.00	158	-81	66	376
Net Nonoperating Expense (NNE)	273	1.30	21	49	78	68	57
Net Nonoperating Obligations (NNO)	0.00	-238	492	848	854	750	457
Total Depreciation and Amortization (D&A)	411	326	303	274	313	258	238
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$7.34	$4.24	$1.41	$2.11	$2.00
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	84.31M	77.75M	77.58M	78.89M	80.47M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$7.18	$4.14	$1.39	$2.05	$1.93
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	84.31M	77.75M	77.58M	78.89M	80.47M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	84.31M	77.75M	77.58M	78.89M	80.47M
Normalized Net Operating Profit after Tax (NOPAT)	-120	-71	667	387	194	237	246
Debt Service Ratios	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Victoria's Secret & Co.'s official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	11/1/2025	1/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	80,268,924.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	80,268,924.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2.29
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	-13	-47	205	-16	48	-33	214	10	31	-13	212
Return On Investment Capital (ROIC_SIMPLE)	-	-	13.15%	-	-	-	13.05%	0.57%	1.75%	-0.65%	11.24%
Earnings before Interest and Taxes (EBIT)	26	-67	259	27	62	-48	266	23	42	-19	232
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	104	11	334	92	126	15	332	85	105	41	285
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-407	-321	162	-49	43	-95	92	-144	-95	-94	259
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,443	1,648	1,292	1,463	1,448	1,710	1,414	1,617	1,574	1,791	1,367
Increase / (Decrease) in Invested Capital	394	274	43	33	5.00	62	122	154	126	81	-47
Book Value per Share	$3.62	$2.85	$5.39	$5.45	$6.03	$5.46	$8.14	$8.18	$8.52	$8.15	$10.66
Tangible Book Value per Share	($6.47)	($7.14)	($4.52)	($4.36)	($3.61)	($4.06)	($1.31)	($1.15)	($0.63)	($0.89)	$3.03
Total Capital	1,574	1,772	1,562	1,568	1,617	1,871	1,641	1,755	1,762	2,040	1,885
Total Debt	1,274	1,534	1,124	1,123	1,123	1,418	977	1,082	1,052	1,351	975
Total Long-Term Debt	1,270	1,530	1,120	1,119	1,119	1,414	973	1,078	1,048	1,347	971
Net Debt	1,143	1,410	854	1,018	954	1,257	750	944	864	1,102	457
Capital Expenditures (CapEx)	89	80	32	39	60	51	19	43	68	52	24
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-56	148	-347	-143	-171	103	-157	65	10	209	-138
Debt-free Net Working Capital (DFNWC)	75	272	-77	-38	-2.00	264	70	203	198	458	380
Net Working Capital (NWC)	71	268	-81	-42	-6.00	260	66	199	194	454	376
Net Nonoperating Expense (NNE)	-12	24	21	-13	16	22	19	7.00	13	18	13
Net Nonoperating Obligations (NNO)	1,143	1,410	854	1,018	954	1,257	750	944	864	1,102	457
Total Depreciation and Amortization (D&A)	78	78	75	65	64	63	66	62	63	60	53
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.02)	($0.92)	$2.34	($0.05)	$0.41	($0.71)	$2.46	($0.02)	$0.20	($0.46)	$2.28
Adjusted Weighted Average Basic Shares Outstanding	77.27M	77.43M	77.58M	78.30M	78.53M	78.62M	78.89M	79.85M	80.16M	80.27M	80.47M
Adjusted Diluted Earnings per Share	($0.02)	($0.92)	$2.32	($0.05)	$0.40	($0.71)	$2.41	($0.02)	$0.20	($0.46)	$2.21
Adjusted Weighted Average Diluted Shares Outstanding	77.27M	77.43M	77.58M	78.30M	78.53M	78.62M	78.89M	79.85M	80.16M	80.27M	80.47M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	77.27M	77.43M	77.58M	78.30M	78.53M	78.62M	78.89M	79.85M	80.16M	80.27M	80.47M
Normalized Net Operating Profit after Tax (NOPAT)	18	-47	205	18	48	-33	214	10	31	-13	212
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

Financials Breakdown Chart

Key Financial Trends

Q4 2025 operating revenue rose to $2.269B, up from $2.083B in Q4 2024 (about +9%), signaling stronger top‑line demand.
Q4 2025 operating income remained robust at $229M, sustaining profitability as revenue grows.
Free cash flow in Q4 2025 was strong: about $650M (CFO $674M less capex $24M), providing cushion for debt management or returns to shareholders.
2025 debt actions show liquidity flexibility, including $300M of debt issued in Q3 2025 and $85M in Q2 2025, expanding near‑term liquidity headroom.
Inventories rose to roughly $1.38B by Q3 2025, up from earlier periods, signaling a planned stock build to support demand or mix changes.
Gross margin averaged about 37.7% in Q4 2025 (855M gross profit on 2.269B revenue), slightly below the ~39% level seen in Q4 2024.
Selling, General & Admin (SG&A) expenses rose to $626M in Q4 2025, indicating a higher expense base relative to revenue growth.
Total liabilities remained elevated at about $4.445B as of Q3 2025, with long‑term debt near $1.347B, signaling ongoing leverage and debt service obligations.
Net income attributable to common shareholders declined year over year, to $184M in Q4 2025 from $193M in Q4 2024.
Diluted earnings per share fell to $2.21 in Q4 2025 from $2.46 in Q4 2024, reflecting earnings‑per‑share pressure despite positive net income.

05/05/26 11:54 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Victoria's Secret & Co.'s Financials

When does Victoria's Secret & Co.'s financial year end?

According to the most recent income statement we have on file, Victoria's Secret & Co.'s fiscal year ends in January. Their fiscal year 2026 ended on January 31, 2026.

How has Victoria's Secret & Co.'s net income changed over the last 6 years?

Victoria's Secret & Co.'s net income appears to be on an upward trend, with a most recent value of $189 million in 2025, falling from -$897 million in 2019. The previous period was $169 million in 2024. Check out Victoria's Secret & Co.'s forecast to explore projected trends and price targets.

What is Victoria's Secret & Co.'s operating income?

Victoria's Secret & Co.'s total operating income in 2025 was $271 million, based on the following breakdown:

Total Gross Profit: $2.38 billion
Total Operating Expenses: $2.11 billion

How has Victoria's Secret & Co.'s revenue changed over the last 6 years?

Over the last 6 years, Victoria's Secret & Co.'s total revenue changed from $7.51 billion in 2019 to $6.55 billion in 2025, a change of -12.7%.

How much debt does Victoria's Secret & Co. have?

Victoria's Secret & Co.'s total liabilities were at $4.10 billion at the end of 2025, a 6.1% increase from 2024, and a 22.9% increase since 2020.

How much cash does Victoria's Secret & Co. have?

In the past 5 years, Victoria's Secret & Co.'s cash and equivalents has ranged from $227 million in 2024 to $518 million in 2025, and is currently $518 million as of their latest financial filing in 2025.

How has Victoria's Secret & Co.'s book value per share changed over the last 6 years?

Over the last 6 years, Victoria's Secret & Co.'s book value per share changed from 0.00 in 2019 to 10.66 in 2025, a change of 1,066.4%.

Related Companies

Financial statements for NYSE:VSCO last updated on 3/24/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Victoria's Secret & Co. (VSCO) Financials

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Victoria's Secret & Co.'s Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Victoria's Secret & Co. (VSCO) Financials

Annual Income Statements for Victoria's Secret & Co.

Quarterly Income Statements for Victoria's Secret & Co.

Annual Cash Flow Statements for Victoria's Secret & Co.

Quarterly Cash Flow Statements for Victoria's Secret & Co.

Annual Balance Sheets for Victoria's Secret & Co.

Quarterly Balance Sheets for Victoria's Secret & Co.

Annual Metrics And Ratios for Victoria's Secret & Co.

Quarterly Metrics And Ratios for Victoria's Secret & Co.

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Victoria's Secret & Co.'s Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools