Victoria's Secret & annual free cash flow
2019
2020
2021
2022
2023
2024
2025
Victoria's Secret & Free Cash Flow (FCF) History (VSXY)
Victoria's Secret & reported $312.0M in free cash flow for fiscal 2025, an increase of 26.32% from the previous fiscal year, with a free cash flow margin of 4.76%.
View full Victoria's Secret & company overviewVictoria's Secret & free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2026-01-31 | $312.0M | $65.0M | +26.32% | +4.76% |
| 2024 | 2025-02-01 | $247.0M | $114.0M | +85.71% | +3.96% |
| 2023 | 2024-02-03 | $133.0M | −$140.0M | −51.28% | +2.15% |
| 2022 | 2023-01-28 | $273.0M | −$409.0M | −59.97% | +4.30% |
| 2021 | 2022-01-29 | $682.0M | $135.0M | +24.68% | +10.05% |
| 2020 | 2021-01-30 | $547.0M | $457.0M | +507.78% | +10.11% |
| 2019 | 2020-02-01 | $90.0M | — | — | +1.20% |
Victoria's Secret & quarterly free cash flow
Q3.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q1 2026 | 2026-05-02 | −$191.0M | $2.0M | — | −12.24% |
| Q4 2025 | 2026-01-31 | $649.0M | $3.0M | +0.46% | +28.60% |
| Q3 2025 | 2025-11-01 | −$232.0M | $67.0M | — | −15.76% |
| Q2 2025 | 2025-08-02 | $88.0M | $33.0M | +60.00% | +6.03% |
| Q1 2025 | 2025-05-03 | −$193.0M | −$38.0M | — | −14.26% |
| Q4 2024 | 2025-02-01 | $646.0M | $89.0M | +15.98% | +30.66% |
| Q3 2024 | 2024-11-02 | −$299.0M | −$38.0M | — | −22.20% |
| Q2 2024 | 2024-08-03 | $55.0M | $55.0M | — | +3.88% |
| Q1 2024 | 2024-05-04 | −$155.0M | $8.0M | — | −11.41% |
| Q4 2023 | 2024-02-03 | $557.0M | −$120.0M | −17.73% | +26.74% |
| Q3 2023 | 2023-10-28 | −$261.0M | $34.0M | — | −20.63% |
| Q2 2023 | 2023-07-29 | $0 | −$58.0M | — | 0.00% |
| Q1 2023 | 2023-04-29 | −$163.0M | $4.0M | — | −11.58% |
| Q4 2022 | 2023-01-28 | $677.0M | $256.0M | +60.81% | +33.50% |
| Q3 2022 | 2022-10-29 | −$295.0M | −$233.0M | — | −22.38% |
| Q2 2022 | 2022-07-30 | $58.0M | −$182.0M | −75.83% | +3.81% |
| Q1 2022 | 2022-04-30 | −$167.0M | −$250.0M | — | −11.25% |
| Q4 2021 | 2022-01-29 | $421.0M | $291.0M | +223.85% | +19.35% |
| Q3 2021 | 2021-10-30 | −$62.0M | — | — | −4.30% |
| Q2 2021 | 2021-07-31 | $240.0M | — | — | +14.87% |
| Q1 2021 | 2021-05-01 | $83.0M | — | — | +5.34% |
| Q3 2020 | 2020-10-31 | $130.0M | — | — | +9.61% |
Victoria's Secret & free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $547.0M to $312.0M, a compound annual decline of 10.62%. Victoria's Secret &'s latest reported quarter, Q1 2026, generated −$191.0M in free cash flow, an increase of $2.0M year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Victoria's Secret & filings at SEC.gov ↗