Victoria's Secret (VSXY) Operating Margin (2020 - 2026)
Victoria's Secret's Operating Margin was 15.95% in fiscal Q2 2027 (quarter ended Aug 1, 2026), up 13.14 percentage points from 2.81% a year earlier and up 11.08 percentage points from the prior quarter.
Victoria's Secret (VSXY) Operating Margin (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, Victoria's Secret's Operating Margin was 7.86% through Aug 1, 2026, up 3.35 percentage points year-over-year; for FY2026 (ended Jan 31, 2026), it came in at 4.14%, down 0.84 percentage points from FY2025.
- Operating Margin shows a five-year change of +6.00 percentage points (FY2021 to FY2026).
- In earlier fiscal years, Operating Margin was 4.98% in FY2025 (+1.00 pp), 3.98% in FY2024 (-3.56 pp), 7.53% in FY2023 (-5.29 pp) and 12.82% in FY2022 (+14.69 pp).
- The fiscal Q2 2027 figure marks the highest quarterly Operating Margin since fiscal Q4 2021.
- Compared with a year earlier, Operating Margin was higher in five of the last eight quarters, with an average year-over-year change of +2.03 percentage points.
- The best year-over-year quarter for Operating Margin over five years was fiscal Q2 2027 (a gain of 13.14 percentage points); the worst was fiscal Q3 2024 (a drop of 8.56 percentage points).
- Per Business Quant data, VSXY's Operating Margin in the three fiscal quarters before Q2 2027 was 4.87% (Q1 2027), 10.09% (Q4 2026) and -1.29% (Q3 2026).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,659.84 Bn | 2,176.54 Bn | 104.83 Bn | 13.69% |
| 2 | Home Depot | 287.59 Bn | 280.83 Bn | 16.12 Bn | 14.29% |
| 3 | Tjx Companies | 147.38 Bn | 124.93 Bn | 5.07 Bn | 13.09% |
| 4 | Lowes Companies | 105.03 Bn | 97.99 Bn | 8.58 Bn | 13.67% |
| 5 | Ross Stores | 74.93 Bn | 57.86 Bn | 2.12 Bn | 17.62% |
| 6 | Target | 71.05 Bn | 65.64 Bn | 8.94 Bn | 9.65% |
| 7 | O Reilly Automotive | 70.25 Bn | 69.33 Bn | 2.52 Bn | 20.15% |
| 8 | Carvana | 69.96 Bn | 61.56 Bn | 1.38 Bn | 9.22% |
| 9 | Autozone | 46.92 Bn | 45.82 Bn | 2.52 Bn | 19.08% |
| 10 | Victoria's Secret | 7.14 Bn | 5.71 Bn | 759.00 Mn | 15.95% |
Historic Data
| Date | Value |
|---|---|
| Aug 1, 2026 | 15.95% |
| May 2, 2026 | 4.87% |
| Jan 31, 2026 | 10.09% |
| Nov 1, 2025 | -1.29% |
| Aug 2, 2025 | 2.81% |
| May 3, 2025 | 1.48% |
| Feb 1, 2025 | 12.73% |
| Nov 2, 2024 | -3.49% |
| Aug 3, 2024 | 4.38% |
| May 4, 2024 | 1.91% |
| Feb 3, 2024 | 12.43% |
| Oct 28, 2023 | -5.30% |
| Jul 29, 2023 | 1.82% |
| Apr 29, 2023 | 1.99% |
| Jan 28, 2023 | 12.07% |
| Oct 29, 2022 | 3.26% |
| Jul 30, 2022 | 6.44% |
| Apr 30, 2022 | 6.33% |
| Jan 29, 2022 | 15.30% |
| Oct 30, 2021 | 7.49% |
Victoria's Secret Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=VSXY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "VSXY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=VSXY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();