VSXY
Victoria's Secret & Company
VSXY's fundamentals are strong, but it looks expensive: trading at 23x earnings, above its usual 14x. Analysts expect strong earnings growth.
VSXY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Strong |
VSXY's revenue, profitability, cash flow and balance sheet are all currently healthy.
VSXY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.8x | $30.32 | -71% |
| Fair | 14x | $60.95 | -42% |
| Forward | 20x | $105 | — |
| Current | 23x | $105 | — |
| Expensive | 24x | $108 | +3.3% |
Historical ranges are pointers, not guarantees.
VSXY's PE is in its expensive range at 23x. If earnings grow as analysts expect, today's price would be 20x next year's earnings.
VSXY Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for VSXY, with profitability improving.
VSXY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.24 | +17% |
| Q3 2026 | $4.49 | +139% |
| Q2 2026 | $2.51 | +21% |
| Q1 2026 | $1.93 | -5.9% |
| Q4 2025 | $2.13 | +8.7% |
| Q3 2025 | $1.88 | +7.4% |
| Q2 2025 | $2.08 | +56% |
| Q1 2025 | $2.05 | +47% |
| Q4 2024 | $1.96 | +69% |
VSXY's earnings per share have fallen from their peak: $4.49 over the past year, against $6.15 in early 2022.
VSXY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.6B | +10% |
| Q2 2026 | $1.6B | +15% |
| Q1 2026 | $2.3B | +7.7% |
| Q4 2025 | $1.5B | +9.3% |
| Q3 2025 | $1.5B | +3% |
| Q2 2025 | $1.4B | -0.4% |
| Q1 2025 | $2.1B | +1.1% |
| Q4 2024 | $1.3B | +6.5% |
VSXY's revenue has grown year over year for five quarters in a row: $1.6B last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | +13 points |
| Q2 2026 | 4.9% | +3.4 points |
| Q1 2026 | 10% | -2.6 points |
| Q4 2025 | -1.3% | +2.2 points |
| Q3 2025 | 2.8% | -1.6 points |
| Q2 2025 | 1.5% | -0.4 points |
| Q1 2025 | 13% | +0.3 points |
| Q4 2024 | -3.5% | +1.8 points |
VSXY's operating margin was 16% last quarter, up 13 points from the same quarter a year ago, near the top of its range since 2021.
VSXY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $328M | +273% |
| Q2 2026 | -$191M | +$2M |
| Q1 2026 | $649M | +0.5% |
| Q4 2025 | -$232M | +$67M |
| Q3 2025 | $88M | +60% |
| Q2 2025 | -$193M | -$38M |
| Q1 2025 | $646M | +16% |
| Q4 2024 | -$299M | -$38M |
VSXY generated $554M in free cash flow over the past year, up 129% from the year before.
VSXY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -1M shares |
| 1 year | +2.4% | +2M shares |
| 3 years | +9.1% | +7M shares |
| 5 years | -4.9% | -4.4M shares |
VSXY has 84M diluted shares, up 2.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $100M |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
VSXY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.6x | Very low |
| Q2 2026 | 1.4x | Healthy |
| Q1 2026 | 0.9x | Very low |
| Q4 2025 | 2.0x | Healthy |
| Q3 2025 | 1.6x | Healthy |
| Q2 2025 | 1.7x | Healthy |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 2.2x | Moderate |
VSXY's net debt is less than a year of its operating earnings (EBITDA), down from 1.6 years a year ago.
VSXY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.4 | Neutral |
| Stochastic | 83.0 | Overbought |
VSXY's weekly RSI is 65 (neutral) and its Stochastic is 83 (overbought).
VSXY PE vs Consumer Cyclical Sector
| Metric | VSXY | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 18x | 29% above |
| PE % | 82 | 55 | 27 pts above |
VSXY is trading at 23x earnings, a 29% premium to the Consumer Cyclical sector's median of 18x.
VSXY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $93.1 | 12% above |
| 20 week MA | $87.2 | 20% above |
| 50 week MA | $69.2 | 51% above |
| 100 week MA | $47.9 | 119% above |
| 200 week MA | $36.4 | 188% above |
VSXY is in an uptrend: it's above all five of its weekly moving averages, and 188% above its 200-week average.
VSXY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $42.1 | $49.1 | +17% |
| 2022 | $49.1 | $40.4 | -18% |
| 2023 | $40.4 | $26.5 | -34% |
| 2024 | $26.5 | $42.3 | +59% |
| 2025 | $42.3 | $53.8 | +27% |
| 2026 YTD | $53.8 | $104.6 | +94% |
VSXY has finished higher in three of the last five years. It's up 94% so far in 2026.