VSCO logo
Victoria's Secret & Co.
VSCO
23.57 (1.59%) 0.38
1.88(B)
Consumer Discretionary
Specialty Retail
Victoria's Secret & Co. operates as a specialty retailer of women’s intimate and other apparel and beauty products worldwide. It offers bras panties lingerie casual sleepwear apparel sport and swim products as well as prestige fragrances and body care products; and loungewear activewear and accessories and beauty products under the Victoria’s Secret PINK and Adore Me brands. The company 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.
My Holdings:
(?% ownership)
Shares:
Cost basis:
Market cap:$1.88(B)
EV:$4.38(B)
Total Equity:$664.00(M)
Div. yield:0.00%
P/S:0.30
P/E:11.28
P/FCF:7.53
P/B:2.91
EPS:$2.1
FCF/share:$3.1
Dividend/share:$0.0
Book value/share:$8.1
ROIC:5.5%
ROA:3.6%
ROE:31.2%

VSCO Valuation

  Current Price
23.57
PE Valuation
N/A
Analyst targets
N/A
DCF
N/A
DCF (exit mult.)
N/A
Future P/E
N/A
Peter Lynch FV
N/A
Graham No.
N/A
DDM
N/A

Using the PEvaluation method, the intrinsic value estimate of VSCO is $14.8.
At the current price of 23.6, VSCO is 37% overvalued.

Based on 0 valuation methods, the average fair value estimate for VSCO is $N/A (NaN% overvalued).

Valuations range from $1.7976931348623157e+308 (N/A) to $0.0 (N/A).

PEvaluation

37% overvalued
Low
$10.0
Mid
$14.8
High
$20.8
Current price
$23.6
Fair P/E
Margin of safety
Shares outstan...ROICRevenue growthDebt/FCFAssets/Liabili...
Economic moat: None/narrow

Analyst Price Targets

15% overvalued
Low
$12.0
Mid
$20.0
High
$42.0
Current price
$23.6
Strong Buy2
Buy1
Hold5
Sell1
Strong Sell2

Estimated EPS

LowAvgHigh#
FY+11.32.23.111
FY+21.02.32.910
FY+31.82.53.13

Discounted Cash Flow

Forecast years
Terminal Growth Rate
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Discounted Cash Flow (exit mult.)

Forecast years
Exit FCF Multiple
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Future P/E Valuation

Projection Years
Base Revenue
Revenue Growth Rate
Final Net Margin
Final P/E Ratio
Discount Rate

Peter Lynch Fair Value

Earnings Per Share
Growth Rate (*)

(*) Growth rate is capped between 5 and 25

Graham Formula

Earnings Per Share
Expected Growth Rate
Government Bond Rate

Dividend Discount Model

Annual Dividend
First Stage Length (Years)
First Stage Growth Rate
Final Growth Rate
Discount Rate

(*) First stage rowth rate is capped to 20%

TTM Financials

Income (TTM)

RevenueGrossNet
Revenue$6.23(B)
Gross profit$2.28(B)
EBITDA$585.00(M)
Net income$165.00(M)
Gross margin36.7%
Operating margin5.0%
Net margin2.6%
Shares outstanding:79.84(M)

Balance sheet

Cash & ST inv.Other ST assetsLong term assetsCurrent liabilitiesLong term debtOther LT liabilitiesEquity
Total assets$4.53(B)
Current assets$1.44(B)
Total liabilities$3.87(B)
Current liabilities$1.38(B)
Cash & Short-term inv.$227.00(M)
Long-term debt$973.00(M)
Total intangibles$743.00(M)
PP&E$2.25(B)

Cash flow (TTM)

CFOCFICFF
FCF$247.00(M)
CapEx$-178.00(M)
Dividends paid$0
Stock issued$5.00(M)
Stock repurchased$-10.00(M)
Stock-based comp.$60.00(M)
Debt issued$460.00(M)
Debt repaid$-609.00(M)

Per share data

Price: $23.6
Revenue: $78.9 (0.3x | 334.6%) Gross profit: $28.6 (0.8x | 121.4%) Earnings: $2.09 (11.3x | 8.9%)
FCF: $3.13 (7.5x | 13.3%) Stock-based Comp.: $0.75 (31.4x | 3.2%) Dividend: $0.00 (N/A | 0.0%)
Total Assets: $56.8 (0.4x | 240.8%) Total Liabilities: $48.4 (0.5x | 205.5%) Book Value: $8.10 (2.9x | 34.4%) Cash & ST inv.: $2.84 (8.3x | 12.1%) Debt: $12.2 (1.9x | 51.7%)

Growth Estimates

Revenue

CAGR: 1.3%
FY+1FY+2FY+3
FY+1$6.21(B)
FY+2(+1.2%)$6.29(B)
FY+3(+1.5%)$6.38(B)

Net Income

CAGR: 4.4%
FY+1FY+2FY+3
FY+1$179.74(M)
FY+2(+0.1%)$179.84(M)
FY+3(+8.9%)$195.82(M)

EPS

CAGR: 8.2%
FY+1FY+2FY+3
FY+1$2.18
FY+2(+3.2%)$2.25
FY+3(+13.3%)$2.55

FCF per share

CAGR: 0.5%
FY+1FY+2
FY+1$5.78
FY+2(+0.5%)$5.81

Historical Financials

Showing limited histrical data. Access 10+ years of financials now! Upgrade
YearlyQuarterly
Income
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM5Y avg5Y CAGR
Revenue5.41(B)6.79(B)6.34(B)6.18(B)6.23(B)6.23(B)6.19(B)4%
COGS3.84(B)4.03(B)4.09(B)3.94(B)3.95(B)3.95(B)3.97(B)1%
Gross Profit1.57(B)2.76(B)2.26(B)2.24(B)2.28(B)2.28(B)2.22(B)10%
Total OpEx.1.67(B)1.89(B)1.78(B)2.00(B)1.97(B)1.97(B)1.86(B)4%
  R&D0.000.000.000.000.000.000.00N/A%
  SG&A1.67(B)1.89(B)1.78(B)2.00(B)1.97(B)1.97(B)1.86(B)4%
Operating Income-101.00(M)870.00(M)478.00(M)246.00(M)310.00(M)310.00(M)360.60(M)N/A%
Interest Expense-6.00(M)-27.00(M)-60.00(M)-99.00(M)-86.00(M)-86.00(M)-55.60(M)95%
Interest Income0.000.000.000.000.000.000.00N/A%
Pre-tax income-106.00(M)843.00(M)417.00(M)147.00(M)221.00(M)221.00(M)304.40(M)N/A%
Income tax34.00(M)-197.00(M)-79.00(M)-31.00(M)-52.00(M)-52.00(M)-65.00(M)N/A%
Net Income-72.00(M)646.00(M)348.00(M)109.00(M)165.00(M)165.00(M)239.20(M)N/A%
Cash flow
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based Comp.FCFCFONet IncomeD&ACFFStock IssuedStock RepurchasedDebt IssuedDebt RepaidDividend PaidCFIAcquisitionsDivestituresCapital Expenditures
Balance sheet
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Total AssetsTotal LiabilitiesCurrent assetsCash and EquivalentsShort-term investmentsInventoriesReceivablesNon-current assetsNet PP&EIntangible AssetsGoodwillCurrent liabilitiesAccounts payableNon-current liabilitiesLong-Term DebtTotal Equity
Per share data
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
EPS (Basic)FCF/ShareDividend/ShareEPS (Diluted)Book value/ShareCash & ST inv./ShareDebt/Share
Ratios
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
P/EP/SEV/EarningsP/FCFP/BEV/FCFDebt/EquityPayout ratio
Margins
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net Income MarginOperating MarginGross MarginEBITDA MarginFCF Margin
Returns
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
ROICROAROCEROE
Shares outstanding
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Shares (Basic)Shares (Diluted)
Market Cap.
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Market Cap.

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Ownership

Major holders

Insiders: 14.12%
Institutions: 93.96%
Other: -8.08%

Institutional ownership

16.21% Blackrock Inc.11.36% Vanguard Group Inc5.07% FMR, LLC4.11% State Street Corporati...2.62% Arrowstreet Capital, L...2.59% Fuller & Thaler Asset ...2.57% Shaw D.E. & Co., Inc.2.49% Marshall Wace LLP2.27% Geode Capital Manageme...2.19% Hood River Capital Man...42.48% Others

Insider transactions

Show:
Buys
Sells
Grants
DateSharesTotal ($)Price ($)NameTitle
Buy2025-04-03212,5003,431,62016.1BBRC INTERNATIONAL PTE. LTD.Beneficial Owner of more than 10% of a Class of Security
Buy2025-03-28584,00010,793,95518.5BBRC INTERNATIONAL PTE. LTD.Beneficial Owner of more than 10% of a Class of Security
Buy2025-03-27209,4714,077,84819.5BBRC INTERNATIONAL PTE. LTD.Beneficial Owner of more than 10% of a Class of Security
Grant2025-03-1965,72900.0BOYLE DEINChief Operating Officer
Grant2025-03-1953,62100.0MCAFEE MELINDA R.Officer
Grant2025-03-19142,06600.0SUPER HILLARYChief Executive Officer
Buy2025-03-13129,6412,185,94216.9BBRC INTERNATIONAL PTE. LTD.Beneficial Owner of more than 10% of a Class of Security
Buy2025-03-111,022,00017,321,33716.9BBRC INTERNATIONAL PTE. LTD.Beneficial Owner of more than 10% of a Class of Security
Grant2025-02-203,12100.0BOYLE DEINChief Operating Officer
Grant2025-02-209,40000.0MCAFEE MELINDA R.Officer
Grant2025-02-0321,48400.0SEKELLA SCOTT N.Chief Financial Officer
Grant2024-10-07237,80000.0SUPER HILLARYChief Executive Officer
Buy2024-09-121,00021,43321.4JAMES DONNA ANITADirector
Grant2024-06-137,65400.0HERNANDEZ JACQUELINEDirector
Grant2024-06-137,65400.0DAVIS SARAH RUTHDirector
Grant2024-06-137,79600.0PETERS LAUREN BDirector
Grant2024-06-137,79600.0BRITT IRENE CHANGDirector
Grant2024-06-136,94200.0NAFICY MARIAMDirector
Grant2024-06-137,08400.0LITTLE ROD R.Director
Grant2024-06-137,65400.0SHEEHAN ANNEDirector
Grant2024-06-1312,21000.0JAMES DONNA ANITADirector

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