Stocktoria

Victoria's Secret & Co. VSXY

NYSE · stock · Retail-Women's Clothing Stores · website · IPO 2021-07-21 · LEI

Victoria's Secret & Co. statistics & valuation

Market cap$6.3B
P / E38.9×
P / S1.0×
P / B6.9×
P / FCF20.1×
Net margin2.5%
Return on equity17.7%
FCF margin4.8%
Net debt$453.0M
Net debt / EBITDA0.9×
Enterprise value USD$6.7B
EV / EBITDA13.2×
Earnings yield EBIT/EV4%
Return on capital7.7%
Graham number -76.5%$21.82

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($21.82); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-1.30% 9.50% 5.50% 1.80% 2.60% 2.50% 202120222023202420252026
Gross margin (%)
29.00% 40.70% 35.60% 36.30% 36.70% 36.40% 202120222023202420252026
Operating margin (%)
-1.90% 12.80% 7.50% 4.00% 5.00% 4.10% 202120222023202420252026
Return on equity (%)
-8.10% 251.40% 86.80% 24.90% 24.80% 17.70% 202120222023202420252026
Shares outstanding
88.0M 90.0M 84.0M 79.0M 81.0M 83.0M 202120222023202420252026
Net debt ($)
-$238.0M $488.0M $844.0M $850.0M $746.0M $453.0M 202120222023202420252026
Share buybacks ($)
202120222023202420252026
Return on assets (%)
-1.70% 14.90% 7.40% 2.40% 3.60% 3.20% 202120222023202420252026
Free cash flow margin (%)
10.10% 10.10% 4.30% 2.20% 4.00% 4.80% 202120222023202420252026
Debt / equity (×)
0.11× 3.81× 3.17× 2.56× 1.47× 1.07× 202120222023202420252026
EPS ($)
-$0.82 $7.18 $4.14 $1.39 $2.05 $1.93 202120222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Victoria's Secret & Co. trades at about 48.2× earnings — above its 10-year norm (10-year range 7.5×–32.5×, median 13×).

7.5× 48.2×

Shaded band = 10-year range (7.5×–32.5×); dot = today's 48.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022FY2021
Gross margin36.4%36.7%36.3%35.6%40.7%29.0%
Operating margin4.1%5.0%4.0%7.5%12.8%-1.9%
Net margin2.5%2.6%1.8%5.5%9.5%-1.3%
FCF margin4.8%4.0%2.2%4.3%10.1%10.1%
Return on assets3.2%3.6%2.4%7.4%14.9%-1.7%
Return on equity17.7%24.8%24.9%86.8%251.4%-8.1%
Debt / equity1.07×1.47×2.56×3.17×3.81×0.11×
Current ratio1.251.050.951.101.000.80

Computed from company filings · US · as of 2026-01-31. Facts plus Stocktoria's own computed scores — not investment advice.