Company / Operating Margin
Victoria's Secret Operating Margin History
FY2019-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
4.1%
FY2025
5-year range
4.0% / 12.8%
FY2021-FY2025
Trend
-16.9%
vs FY2024
Sector context
#136 of 186
Consumer Discretionary
What the data says
At 4.1%, Victoria's Secret's operating margin ranks #136 of 186 in the Consumer Discretionary sector. Operating Margin has fluctuated over the past 7 years, ranging from -11.9% in FY2019 to 12.8% in FY2021.
Based on SEC 10-K filings.
4.1% in FY2025 with a 5-year CAGR of +6.0%.
Improved from 4.0% to 4.1% over the past 2 years.
Consumer Discretionary sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- -3.4pp
- 5-Year Change
- +6.0pp
- 10-Year Change
- -
Sector benchmark
#136 of 186 in Consumer DiscretionaryTop 73% of 186This company 4.1% Sector average 3.2%
▼
+28.1% above sector average
Key checks
Key Insights
- In FY2025, operating margin decreased 16.9% year-over-year.
- Currently 0.9pp above the Consumer Discretionary sector average.
- Peak operating margin was recorded in FY2021.
- Lowest operating margin in the period was in FY2019.
Company context
Key Data Points
- High earnings quality (cash-backed earnings)
- Strong return on equity: 26.0%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 4.1% | -16.9% |
| FY2024 | 5.0% | +25.1% |
| FY2023 | 4.0% | -47.1% |
| FY2022 | 7.5% | -41.3% |
| FY2021 | 12.8% | +787.1% |
| FY2020 | -1.9% | +84.3% |
| FY2019 | -11.9% | - |
As of FY2025 · SEC 10-K · Updated Mar 28, 2026