Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.6B | $12.6B | $13.2B | $5.41B | $6.43B | $7.88B | $7.56B | $7.43B | $7.31B | $7.29B |
| Revenue growth | — | 0.5% | 4.8% | -59.2% | 19.0% | 22.5% | -4.1% | -1.7% | -1.6% | -0.2% |
| Gross profit | $5.13B | $4.96B | $4.90B | $2.39B | $3.10B | $3.85B | $3.25B | $3.24B | $3.23B | $3.19B |
| Gross margin | 40.8% | 39.3% | 37.0% | 44.2% | 48.1% | 48.9% | 43.1% | 43.6% | 44.3% | 43.7% |
| Operating income | $2.00B | $1.73B | $1.24B | $1.04B | $1.60B | $2.01B | $1.38B | $1.28B | $1.27B | $1.13B |
| Operating margin | 15.9% | 13.7% | 9.3% | 19.2% | 24.9% | 25.5% | 18.2% | 17.3% | 17.3% | 15.4% |
| Net income | $1.16B | $983M | $644M | -$366M | $844M | $1.33B | $800M | $878M | $798M | $649M |
| Net margin | 9.2% | 7.8% | 4.9% | -6.8% | 13.1% | 16.9% | 10.6% | 11.8% | 10.9% | 8.9% |
| EPS (diluted) | $3.98 | $3.42 | $2.31 | -$1.32 | $3.00 | $4.88 | $3.43 | $3.84 | $3.61 | $3.11 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.99B | $1.41B | $1.38B | $1.24B | $2.04B | $1.49B | $1.14B | $954M | $886M | $1.10B |
| Capital expenditures | $990M | $707M | $629M | $458M | $228M | $270M | $328M | $298M | $226M | $237M |
| Free cash flow | $1.00B | $699M | $748M | $778M | $1.81B | $1.22B | $816M | $656M | $660M | $865M |
| Share buybacks | $435M | $446M | $198M | $0.00 | $0.00 | $1.96B | $1.31B | $148M | $401M | $401M |
| Dividends paid | $1.27B | $686M | $666M | $332M | $83.0M | $120M | $186M | $182M | $177M | $167M |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.93B | $1.51B | $1.41B | $1.50B | $3.57B | $1.98B | $1.23B | $1.08B | $674M | $953M |
| Total assets | $8.17B | $8.15B | $8.09B | $10.1B | $11.6B | $6.03B | $5.49B | $5.46B | $4.87B | $5.07B |
| Long-term debt | $5.70B | $5.71B | $5.74B | $5.49B | $6.37B | $4.85B | $4.86B | $4.39B | $3.88B | $3.61B |
| Shareholders' equity | -$729M | -$753M | -$869M | -$1.50B | -$662M | -$1.52B | -$2.21B | -$1.63B | -$1.39B | -$1.28B |
| Retained earnings | $205M | -$1.43B | -$1.48B | -$2.18B | -$1.42B | -$1.80B | -$2.40B | -$1.84B | -$1.58B | -$1.44B |
| Shares (wtd avg diluted) | 291M | 287M | 279M | 278M | 281M | 273M | 233M | 229M | 221M | 209M |
Every figure is extracted from Bath & Body Works, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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