Victoria's Secret & Co. Income Statement

Financials in millions USD. Fiscal year is March - February.

Millions USD. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 1, 2025	Feb '25 Feb 1, 2025	Feb '24 Feb 3, 2024	Jan '23 Jan 28, 2023	Jan '22 Jan 29, 2022	Jan '21 Jan 30, 2021
Revenue	6,390	6,230	6,182	6,344	6,785	5,413
Revenue Growth (YoY)	2.95%	0.78%	-2.55%	-6.50%	25.35%	-27.91%
Cost of Revenue	4,045	3,946	3,908	4,072	4,025	3,613
Gross Profit	2,345	2,284	2,274	2,272	2,760	1,800
Selling, General & Admin	1,981	1,932	1,947	1,744	1,890	1,647
Amortization of Goodwill & Intangibles	25	25	25	-	-	-
Operating Expenses	2,006	1,957	1,972	1,744	1,890	1,647
Operating Income	339	327	302	528	870	153
Interest Expense	-73	-86	-99	-60	-27	-6
Other Non Operating Income (Expenses)	-	-3	-	-1	-	1
EBT Excluding Unusual Items	266	238	203	467	843	148
Merger & Restructuring Charges	-22	-17	-56	-50	-	-25
Asset Writedown	-	-	-	-	-	-229
Pretax Income	237	221	147	417	843	-106
Income Tax Expense	54	52	31	79	197	-34
Earnings From Continuing Operations	183	169	116	338	646	-72
Minority Interest in Earnings	-13	-4	-7	10	-	-
Net Income	170	165	109	348	646	-72
Net Income to Common	170	165	109	348	646	-72
Net Income Growth	11.11%	51.38%	-68.68%	-46.13%	-	-
Shares Outstanding (Basic)	81	79	78	82	88	88
Shares Outstanding (Diluted)	83	81	79	84	90	88
Shares Change (YoY)	4.43%	2.53%	-5.95%	-6.67%	2.27%	-
EPS (Basic)	2.11	2.09	1.40	4.24	7.34	-0.82
EPS (Diluted)	2.08	2.05	1.39	4.14	7.18	-0.82
EPS Growth	6.59%	47.48%	-66.42%	-42.34%	-	-
Free Cash Flow	309	247	133	273	682	547
Free Cash Flow Per Share	3.75	3.05	1.68	3.25	7.58	6.22
Gross Margin	36.70%	36.66%	36.78%	35.81%	40.68%	33.25%
Operating Margin	5.30%	5.25%	4.88%	8.32%	12.82%	2.83%
Profit Margin	2.66%	2.65%	1.76%	5.49%	9.52%	-1.33%
Free Cash Flow Margin	4.84%	3.96%	2.15%	4.30%	10.05%	10.11%
EBITDA	590	585	586	802	1,173	479
EBITDA Margin	9.23%	9.39%	9.48%	12.64%	17.29%	8.85%
D&A For EBITDA	251	258	284	274	303	326
EBIT	339	327	302	528	870	153
EBIT Margin	5.30%	5.25%	4.88%	8.32%	12.82%	2.83%
Effective Tax Rate	22.79%	23.53%	21.09%	18.95%	23.37%	-
Advertising Expenses	-	429	454	344	334	239

Source: S&P Global Market Intelligence. Standard template. Financial Sources.