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Victoria's Secret free cash flow VSXY

Cash from operations less capital spending, by quarter and over the last twelve months, from 2020.

Last 12 months, to Aug 1, 2026
$554M
Latest quarter, Q2 FY26
$328M
+273% on a year earlier
Fiscal year 2025
$312M
+26% on the year before

Victoria's Secret's free cash flow was $554M over the twelve months to Aug 1, 2026, up 129% on a year earlier.

In its latest quarter, Q2 FY26, it was $328M, up 273% on the same quarter a year before.

Free cash flow over time

Open the interactive chart, with overlays and comparisons

Fiscal year by fiscal year

Fiscal yearFree cash flowChange
FY2025$312M+26%
FY2024$247M+86%
FY2023$133M−51%
FY2022$273M−60%
FY2021$682Mn/a
FY2020n/an/a

Each fiscal year is the twelve months to its fourth quarter.

Quarter by quarter

QuarterEndedFree cash flowOn a year earlierLast 12 months
Q2 FY26$328M+273%$554M
Q1 FY26−$191Mn/a$314M
Q4 FY25$649M+0%$312M
Q3 FY25−$232Mn/a$309M
Q2 FY25$88M+60%$242M
Q1 FY25−$193Mn/a$209M
Q4 FY24$646M+16%$247M
Q3 FY24−$299Mn/a$158M
Q2 FY24$55Mn/a$196M
Q1 FY24−$155Mn/a$141M
Q4 FY23$557M−18%$133M
Q3 FY23−$261Mn/a$253M

Against its peers

Companies in Apparel - Retail nearest Victoria's Secret's size, closest first, today.

CompanyFree cash flow yield
VSXYVictoria's Secret7.6%
URBNUrban Outfitters4.0%
GAPGAP12.2%
ANFAbercrombie & Fitch8.6%
BOOTBoot Barn3.3%
AEOAmerican Eagle Outfitters11.4%
BKEBuckle8.0%
Peer median8.3%

Where Victoria's Secret ranks

What the free cash flow tells you

Cash from operations minus capital spending. The cash the company could hand back or reinvest.

Seasonal and lumpy quarter to quarter. The TTM view is the one to trust.

More on Victoria's Secret

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.