VICTORIA'S SECRET & CO. (VSXY) FY2026 YTD Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-02-01 to 2026-08-01

Swipe to see the full flow
VICTORIA'S SECRET & CO. cash flow reconciliation, Feb 1, 2026 through Aug 1, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net Income → Net cash from operating activities: $245,000,000.00Depreciation and Amortization → Operating adjustments reconciliation: $105,000,000.00Share-based Compensation Expense → Operating adjustments reconciliation: $29,000,000.00Accounts Receivable → Operating adjustments reconciliation: $15,000,000.00Deferred Income Taxes → Operating adjustments reconciliation: $13,000,000.00Income Taxes → Operating adjustments reconciliation: $8,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $20,000,000.00Operating adjustments reconciliation → Inventories: $76,000,000.00Operating adjustments reconciliation → Accounts Payable, Accrued Expenses and Other: $63,000,000.00Operating adjustments reconciliation → Other Assets and Liabilities: $11,000,000.00Net cash used in investing activities → investing reconciliation: $128,000,000.00investing reconciliation → Capital Expenditures: $128,000,000.00Net cash used in financing activities → financing reconciliation: $136,000,000.00Borrowings from Asset-based Revolving Credit Facility → financing reconciliation: $55,000,000.00Proceeds from Stock Option Exercises → financing reconciliation: $3,000,000.00financing reconciliation → Repurchases of Common Stock: $100,000,000.00financing reconciliation → Repayments of Borrowings from Asset-based Revolving Credit Facility: $55,000,000.00financing reconciliation → Tax Payments related to Share-based Awards: $30,000,000.00financing reconciliation → Dividends Paid: $7,000,000.00financing reconciliation → Payments of Long-term Debt: $2,000,000.00Exchange-rate effect → Cash sources and uses: $3,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $518,000,000.00Net cash from operating activities → Cash sources and uses: $265,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $522,000,000.00Cash sources and uses → Net cash used in investing activities: $128,000,000.00Cash sources and uses → Net cash used in financing activities: $136,000,000.00Net Income: $245,000,000.00Net Income+$245.00 MDepreciation and Amortization: $105,000,000.00Depreciation & amortization+$105.00 MShare-based Compensation Expense: $29,000,000.00Stock-based compensation+$29.00 MDeferred Income Taxes: $13,000,000.00Deferred income taxes+$13.00 MAccounts Receivable: $15,000,000.00Accounts receivable+$15.00 MInventories: -$76,000,000.00Inventories−$76.00 MAccounts Payable, Accrued Expenses and Other: -$63,000,000.00Payables & accrued liabilities−$63.00 MIncome Taxes: $8,000,000.00Income taxes payable+$8.00 MOther Assets and Liabilities: -$11,000,000.00Other working capital, net−$11.00 MNet cash from operating activities: $265,000,000.00Operating cash+$265.00 MOperating adjustments reconciliation: $170,000,000.00Repurchases of Common Stock: -$100,000,000.00Common stock repurchases−$100.00 MBorrowings from Asset-based Revolving Credit Facility: $55,000,000.00Secured credit line borrowings+$55.00 MRepayments of Borrowings from Asset-based Revolving Credit Facility: -$55,000,000.00Credit line repayments−$55.00 MTax Payments related to Share-based Awards: -$30,000,000.00Stock-award tax withholding−$30.00 MDividends Paid: -$7,000,000.00Dividends paid−$7.00 MPayments of Long-term Debt: -$2,000,000.00Long-term debt repaid−$2.00 MOther Financing Activities: $0.00Proceeds from Stock Option Exercises: $3,000,000.00Stock option exercises+$3.00 MNet cash used in financing activities: -$136,000,000.00. Cash required to fund net payments.Financing cash−$136.00 Mfinancing reconciliation: $194,000,000.00Capital Expenditures: -$128,000,000.00PP&E purchases−$128.00 MNet cash used in investing activities: -$128,000,000.00. Cash required to fund net payments.Investing cash−$128.00 Minvesting reconciliation: $128,000,000.00Cash sources and uses: $786,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $518,000,000.00Beginning cash$518.00 MEnding cash: Cash, cash equivalents, and restricted cash: $522,000,000.00Ending cash$522.00 MExchange-rate effect: $3,000,000.00FX effect+$3.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$137.00 MOperating cash − cash spent on PP&ECash flow / Net income1.08×Operating cash flow ÷ net incomeNet cash change+$4.00 MEnding cash − beginning cash
Chart details

VICTORIA'S SECRET & CO. cash flow reconciliation, Feb 1, 2026 through Aug 1, 2026

Cash flows for Feb 1, 2026 through Aug 1, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jan 31, 2026. Ending cash: Aug 1, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Jan 31, 2026
518,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
265,000,000 US dollars. Net cash provided.
Net Income
245,000,000 US dollars
Depreciation and Amortization
105,000,000 US dollars
Share-based Compensation Expense
29,000,000 US dollars
Deferred Income Taxes
13,000,000 US dollars
Accounts Receivable
15,000,000 US dollars
Inventories
negative 76,000,000 US dollars
Accounts Payable, Accrued Expenses and Other
negative 63,000,000 US dollars
Income Taxes
8,000,000 US dollars
Other Assets and Liabilities
negative 11,000,000 US dollars
Investing activities
negative 128,000,000 US dollars. Net cash used.
Capital Expenditures
negative 128,000,000 US dollars
Financing activities
negative 136,000,000 US dollars. Net cash used.
Repurchases of Common Stock
negative 100,000,000 US dollars
Borrowings from Asset-based Revolving Credit Facility
55,000,000 US dollars
Repayments of Borrowings from Asset-based Revolving Credit Facility
negative 55,000,000 US dollars
Tax Payments related to Share-based Awards
negative 30,000,000 US dollars
Dividends Paid
negative 7,000,000 US dollars
Payments of Long-term Debt
negative 2,000,000 US dollars
Other Financing Activities
0 US dollars
Proceeds from Stock Option Exercises
3,000,000 US dollars
Operating adjustment reconciliation
170,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
194,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
128,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
3,000,000 US dollars
Ending cash on Aug 1, 2026
522,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
786,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
4,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.08×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
265,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
128,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
137,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $20.00M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 265,000,000 US dollars minus 128,000,000 US dollars equals 137,000,000 US dollars.
VICTORIA'S SECRET & CO. (VSXY) FY2026 YTD Q2 Statement of Cash Flows Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

Newsletter

Get the teardowns by email

Subscribe if you want the public-company teardowns in your inbox when they're released.

Product waitlist

Health Check and Teardown for your own company

A health check uncovers insights of your private books, not a public ticker. Join this list to get notified as soon as we go-live!