Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|
| Revenue | $7.51B | $5.41B | $6.79B | $6.34B | $6.18B | $6.23B | $6.55B |
| Revenue growth | — | -27.9% | 25.3% | -6.5% | -2.6% | 0.8% | 5.2% |
| Gross profit | $2.06B | $1.57B | $2.76B | $2.26B | $2.24B | $2.28B | $2.38B |
| Gross margin | 27.5% | 29.0% | 40.7% | 35.6% | 36.3% | 36.7% | 36.4% |
| Operating income | -$892M | -$101M | $870M | $478M | $246M | $310M | $271M |
| Operating margin | -11.9% | -1.9% | 12.8% | 7.5% | 4.0% | 5.0% | 4.1% |
| Net income | -$897M | -$72.0M | $646M | $348M | $109M | $165M | $161M |
| Net margin | -11.9% | -1.3% | 9.5% | 5.5% | 1.8% | 2.6% | 2.5% |
| EPS (diluted) | -$10.16 | -$0.82 | $7.18 | $4.14 | $1.39 | $2.05 | $1.93 |
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $315M | $674M | $851M | $437M | $389M | $425M | $499M |
| Capital expenditures | $225M | $127M | $169M | $164M | $256M | $178M | $187M |
| Free cash flow | $90.0M | $547M | $682M | $273M | $133M | $247M | $312M |
| Share buybacks | $0.00 | $0.00 | $250M | $250M | $125M | $0.00 | $0.00 |
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|
| Cash & equivalents | $245M | $335M | $490M | $427M | $270M | $227M | $518M |
| Total assets | — | $4.23B | $4.34B | $4.71B | $4.60B | $4.53B | $5.01B |
| Total liabilities | — | $3.34B | $4.09B | $4.31B | $4.16B | $3.87B | $4.10B |
| Long-term debt | — | $97.0M | $978M | $1.27B | $1.12B | $973M | $971M |
| Shareholders' equity | $1.31B | $891M | $257M | $383M | $417M | $640M | $856M |
| Retained earnings | — | $0.00 | $126M | $186M | $178M | $343M | $504M |
| Shares (wtd avg diluted) | 88.0M | 88.0M | 90.0M | 84.0M | 79.0M | 81.0M | 83.0M |
Every figure is extracted from Victoria's Secret & Co.’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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