Pulling SEC filings + quote and writing the call…

Victoria's Secret & Co.
Next earnings Aug 26, 2026 · consensus $0.73 EPS, $1.63B rev
Last earnings +47.4% on 2026-06-02
Victoria's Secret revenue is stabilizing but profit is still slipping; a 42.5x multiple on thin margins demands a real turnaround.
Sources: SEC EDGAR (CIK 0001856437, latest 10-Q filed 2026-06-05) · EODHD · analysis by claude-code · as of 6/21/2026, 8:54:50 PM.
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Middling fundamentals and a rich price (~76% above fair value) leave little margin of safety — a wait-and-see.
Victoria's Secret has steadied its top line — FY2026 revenue grew 5.2% to $6.55B, reversing the post-spinoff decline (from $6.79B in FY2022 down to $6.18B in FY2024). But the profit picture is still moving the wrong way: net income fell 2.4% to $161M, operating income dropped 12.6% to $271M, and diluted EPS slipped 5.9% to $1.93. Margins are thin and compressing (operating 4.1%, net 2.5%), so revenue growth is not translating into earnings — a sign of promotional pressure, cost inflation or mix shift in a competitive intimate-apparel category.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | $6.79B | $6.34B | $6.18B | $6.23B | $6.55B |
| Gross profit | $2.76B | $2.26B | $2.24B | $2.28B | $2.38B |
| Operating income | $870M | $478M | $246M | $310M | $271M |
| Net income | $646M | $348M | $109M | $165M | $161M |
| Diluted EPS | $7.18 | $4.14 | $1.39 | $2.05 | $1.93 |
| Net margin | 9.5% | 5.5% | 1.8% | 2.6% | 2.5% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
1074 tracked peers · median
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
| 2026-06-11 | PETERS LAUREN B Director | Award | 1.71K | |
| 2026-06-11 | McCreight David W. Director | Award | 1.71K | |
| 2026-06-11 | LITTLE ROD R Director | Award | 1.58K | |
| 2026-06-11 | Sheehan Anne Director | Award | 1.71K | |
| 2026-06-11 | JAMES DONNA Director | Award | 2.69K | |
| 2026-06-11 | Hernandez Jacqueline Director | Award | 1.71K | |
| 2026-06-11 | Davis Sarah R. Director | Award | 1.71K | |
| 2026-06-11 | Britt Irene Chang Director | Award | 1.74K |