Victoria's Secret & Co.
VSXY, VSCO · Retail-Women's Clothing Stores · 79.5M shares · -3%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $69M (gross $125M, SBC $56M)
Reference price $80.03 · est. market cap ~$6.4B — last insider sale, 2026-06-04 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C60Lingerie/apparel retailer (Victoria's Secret) — profitable with positive free cash flow, but thin margins, leverage, and turnaround risk.
Strengths
- Profitable with positive FCF — operating margin 4% (64th), ROE 19% (76th), FCF $312M (83rd)
Risks
- Thin margins, leverage — net margin 2%, D/E 1.14 (82nd)
- Thin quick liquidity — quick ratio 0.54 (11th)
- Brand-turnaround/discretionary-demand risk — per 10-K
Notable findings
- Bankruptcyand certain of its subsidiaries commenced voluntary cases for Chapter 11 bankruptcy protection 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Buying back stockNet buyback — share count -3%/yr over 4y
- Insider buyingInsider buying — 3 open-market buy(s) by 2 insider(s) (cluster of 2 insiders, ~$351,634, last 6mo) Form 4 ↗
- Insider sellingInsider selling — 2 open-market sale(s) by 1 insider(s) (~$91M, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
36.4%
Operating margin
4.1%
Net margin
2.5%
Return on equity
18.8%
Return on assets
3.2%
ROIC
11.7%
Revenue growth (QoQ)
6.0%
Net-income growth
-2.4%
Debt / equity
1.1×
Net debt / EBITDA
0.9×
Current ratio
1.2×
Free cash flow
$312M
EBITDA
$509M
Tangible book value
$489M
Cash & investments
$518M
Stock comp / revenue
0.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-11 | McCreight David W. | Grant | 1.7K | — |
| 2026-06-11 | LITTLE ROD R | Grant | 1.6K | — |
| 2026-06-11 | PETERS LAUREN B | Grant | 1.7K | — |
| 2026-06-11 | JAMES DONNA | Grant | 2.7K | — |
| 2026-06-11 | Hernandez Jacqueline | Grant | 1.7K | — |
| 2026-06-11 | Davis Sarah R. | Grant | 1.7K | — |
| 2026-06-11 | Sheehan Anne | Grant | 1.7K | — |
| 2026-06-11 | Britt Irene Chang | Grant | 1.7K | — |
| 2026-06-04 | BBRC INTERNATIONAL PTE LTD | Sell | 28K | $80.03 |
| 2026-06-02 | Preis Elizabeth | Tax withheld | 5.6K | $80.06 |
| 2026-06-02 | BBRC INTERNATIONAL PTE LTD | Sell | 1.1M | $80.11 |
| 2026-04-02 | JAMES DONNA | Buy | 2.2K | $46.23 |
| 2026-04-02 | Sheehan Anne | Buy | 633 | $45.86 |
| 2026-04-02 | Sheehan Anne | Buy | 4.8K | $45.86 |
| 2026-03-19 | Borgonovo Lucrecia | Grant | 13K | — |
| 2026-03-19 | Sekella Scott | Grant | 31K | — |
| 2026-03-19 | Preis Elizabeth | Grant | 25K | — |
| 2026-03-19 | Super Hillary | Grant | 81K | — |
| 2026-03-19 | Super Hillary | Tax withheld | 23K | $48.35 |
| 2026-03-19 | McAfee Melinda R. | Grant | 17K | — |
| 2026-03-19 | McAfee Melinda R. | Tax withheld | 13K | $48.35 |
| 2026-03-16 | McAfee Melinda R. | Tax withheld | 12K | $45.05 |
| 2026-02-19 | McAfee Melinda R. | Grant | 20K | — |
| 2026-02-03 | Sekella Scott | Tax withheld | 2.1K | $59.97 |
| 2025-10-31 | McAfee Melinda R. | Tax withheld | 2.2K | $35.25 |
| 2025-10-07 | Super Hillary | Tax withheld | 39K | $28.47 |
| 2025-09-02 | Sekella Scott | Grant | 11K | — |
| 2025-06-18 | Hernandez Jacqueline | Grant | 7.3K | — |
| 2025-06-18 | Sheehan Anne | Grant | 7.3K | — |
| 2025-06-18 | PETERS LAUREN B | Grant | 7.4K | — |
| 2025-06-18 | Naficy Mariam | Grant | 6.6K | — |
| 2025-06-18 | McCreight David W. | Grant | 7.3K | — |
| 2025-06-18 | LITTLE ROD R | Grant | 6.8K | — |
| 2025-06-18 | JAMES DONNA | Grant | 13K | — |
| 2025-06-18 | Davis Sarah R. | Grant | 7.3K | — |
| 2025-06-18 | Britt Irene Chang | Grant | 7.4K | — |
| 2025-06-02 | Preis Elizabeth | Grant | 35K | — |
| 2025-04-03 | BBRC INTERNATIONAL PTE LTD | Buy | 212K | $16.15 |
| 2025-03-28 | BBRC INTERNATIONAL PTE LTD | Buy | 584K | $18.48 |
| 2025-03-27 | BBRC INTERNATIONAL PTE LTD | Buy | 124K | $19.46 |
| 2025-03-26 | BBRC INTERNATIONAL PTE LTD | Buy | 85K | $19.47 |
| 2025-03-19 | Boyle Dein | Tax withheld | 2.8K | $21.68 |
| 2025-03-19 | Super Hillary | Grant | 142K | — |
| 2025-03-19 | McAfee Melinda R. | Grant | 54K | — |
| 2025-03-19 | McAfee Melinda R. | Tax withheld | 7.8K | $21.68 |
| 2025-03-19 | Boyle Dein | Grant | 66K | — |
| 2025-03-16 | Boyle Dein | Tax withheld | 4.2K | $18.57 |
| 2025-03-16 | McAfee Melinda R. | Tax withheld | 7.4K | $18.57 |
| 2025-03-13 | BBRC INTERNATIONAL PTE LTD | Buy | 49K | $16.99 |
| 2025-03-12 | BBRC INTERNATIONAL PTE LTD | Buy | 80K | $16.78 |
| 2025-03-11 | BBRC INTERNATIONAL PTE LTD | Buy | 480K | $16.52 |
| 2025-03-10 | BBRC INTERNATIONAL PTE LTD | Buy | 542K | $17.32 |
| 2025-02-20 | McAfee Melinda R. | Grant | 9.4K | — |
| 2025-02-20 | Boyle Dein | Grant | 3.1K | — |
| 2025-02-03 | Sekella Scott | Grant | 21K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-15 | Shareholder voteExhibits | filing ↗ |
| 2026-06-02 | ResultsReg FDExhibits | filing ↗ |
| 2026-05-21 | OtherExhibits | filing ↗ |
| 2026-05-11 | Exec/director changeExhibits | filing ↗ |
| 2026-03-05 | ResultsReg FDExhibits | filing ↗ |
| 2025-12-05 | ResultsReg FDExhibits | filing ↗ |
| 2025-08-28 | ResultsReg FDExhibits | filing ↗ |
| 2025-08-19 | Exec/director changeExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-15 | 2026-06-11 | 0001856437-26-000015 ↗ |
| 10-Q | 2026-06-05 | 2026-05-02 | 0001856437-26-000013 ↗ |
| 8-K | 2026-06-02 | 2026-06-02 | 0001856437-26-000011 ↗ |
| 8-K | 2026-05-21 | 2026-05-21 | 0001856437-26-000007 ↗ |
| 8-K | 2026-05-11 | 2026-05-10 | 0001193125-26-217065 ↗ |
| 10-K | 2026-03-20 | 2026-01-31 | 0001856437-26-000004 ↗ |
| 8-K | 2026-03-05 | 2026-03-05 | 0001856437-26-000002 ↗ |
| 10-Q | 2025-12-05 | 2025-11-01 | 0001856437-25-000045 ↗ |
| 8-K | 2025-12-05 | 2025-12-05 | 0001856437-25-000044 ↗ |
| 10-Q | 2025-09-05 | 2025-08-02 | 0001856437-25-000039 ↗ |
| 8-K | 2025-08-28 | 2025-08-28 | 0001856437-25-000037 ↗ |
| 8-K | 2025-08-19 | 2025-08-18 | 0001856437-25-000035 ↗ |