Victorias Secret & Co. (VSXY)
Consumer Cyclical · NYQ · US
Fundamentals
Valuation and ratings
Victorias Secret & Co. trades at USD82.38, close to the USD82.08 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 53 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 31.4 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Victorias Secret & Co.
Victoria's Secret & Co. operates as a specialty retailer of women's intimate, and other apparel and beauty products worldwide. The company offers bras, panties, lingerie, casual sleepwear, apparel, lounge, sport, and swim products, as well as prestige fragrances and body care products; and accessories and beauty products under the Victoria's Secret, PINK, and Adore Me brands. It provides its products through its retail stores; websites, such as VictoriasSecret.com, PINK.com, AdoreMe.com, and DailyLook.com; and other digital channels. The company also operates stores under the franchise, license, and wholesale arrangements. Victoria's Secret & Co. was incorporated in 2021 and is based in Reynoldsburg, Ohio.
Smart money ownership
5 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- D. E. Shaw, D. E. Shaw & Co., Inc.$65.73M · 0.0% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$62.27M · 0.0% of book
- Ken Griffin, CITADEL ADVISORS LLC$37.39M · 0.0% of book
- Paul Tudor Jones, TUDOR INVESTMENT CORP ET AL$28.65M · 0.1% of book
- Bridgewater Associates, LP$18.56M · 0.1% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Victorias Secret & Co. (VSXY) undervalued?
Against our discounted cash flow estimate of USD82.08, VSXY at USD82.38 is 0% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own VSXY?
5 of the institutions we track reported a position in VSXY in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is VSXY's P/E ratio?
VSXY trades at 31.4 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for VSXY, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.