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Side-by-side financial comparison of Victoria's Secret & Co. (VSCO) and Zumiez Inc (ZUMZ), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Victoria's Secret & Co. is the larger business by last-quarter revenue ($1.5B vs $239.1M, roughly 6.2× Zumiez Inc). Zumiez Inc runs the higher net margin — -2.5% vs 3.8%, a 6.3% gap on every dollar of revenue. On growth, Victoria's Secret & Co. posted the faster year-over-year revenue change (9.3% vs 7.5%). Zumiez Inc produced more free cash flow last quarter ($3.1M vs $-232.0M). Over the past eight quarters, Zumiez Inc's revenue compounded faster (-7.9% CAGR vs -15.9%).
Victoria's Secret is an American lingerie, clothing and beauty retailer. Founded in 1977 by Stanford graduate student Roy Raymond and his wife Gaye, the company's five lingerie stores were sold to Les Wexner in 1982. Wexner rapidly expanded into American shopping malls, expanding the company into 350 stores nationally with sales of $1 billion by the early 1990s, when Victoria's Secret became the largest lingerie retailer in the United States.
Zumiez Inc. is an American multinational specialty clothing store founded by Thomas Campion and Gary Haakenson in 1978, and publicly traded since 2005. The company is a specialty retailer of apparel, footwear, accessories and hardgoods for young men and women. Zumiez markets clothing for action sports, particularly skateboarding, snowboarding, and motocross. Zumiez is based in Lynnwood, Washington. The current president and CEO is Richard Brooks.
VSCO vs ZUMZ — Head-to-Head
Income Statement — Q4 2026 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $239.1M |
| Net Profit | $-37.0M | $9.2M |
| Gross Margin | 36.4% | 37.6% |
| Operating Margin | -1.3% | 4.9% |
| Net Margin | -2.5% | 3.8% |
| Revenue YoY | 9.3% | 7.5% |
| Net Profit YoY | 33.9% | 690.3% |
| EPS (diluted) | $-0.46 | $0.55 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $1.5B | $239.1M | ||
| Q3 25 | $1.5B | $214.3M | ||
| Q2 25 | $1.4B | $184.3M | ||
| Q1 25 | $2.1B | $279.2M | ||
| Q4 24 | $1.3B | $222.5M | ||
| Q3 24 | $1.4B | $210.2M | ||
| Q2 24 | $1.4B | $177.4M | ||
| Q1 24 | $2.1B | $281.8M |
| Q4 25 | $-37.0M | $9.2M | ||
| Q3 25 | $16.0M | $-1.0M | ||
| Q2 25 | $-2.0M | $-14.3M | ||
| Q1 25 | $193.0M | $14.8M | ||
| Q4 24 | $-56.0M | $1.2M | ||
| Q3 24 | $32.0M | $-847.0K | ||
| Q2 24 | $-4.0M | $-16.8M | ||
| Q1 24 | $180.0M | $-33.5M |
| Q4 25 | 36.4% | 37.6% | ||
| Q3 25 | 35.6% | 35.5% | ||
| Q2 25 | 35.0% | 30.0% | ||
| Q1 25 | 38.6% | 36.2% | ||
| Q4 24 | 34.7% | 35.2% | ||
| Q3 24 | 35.4% | 34.2% | ||
| Q2 24 | 36.9% | 29.3% | ||
| Q1 24 | 39.7% | 34.3% |
| Q4 25 | -1.3% | 4.9% | ||
| Q3 25 | 2.8% | 0.0% | ||
| Q2 25 | 1.5% | -10.8% | ||
| Q1 25 | 12.8% | 7.2% | ||
| Q4 24 | -3.5% | 1.1% | ||
| Q3 24 | 4.4% | -0.2% | ||
| Q2 24 | 1.9% | -11.4% | ||
| Q1 24 | 12.4% | -11.6% |
| Q4 25 | -2.5% | 3.8% | ||
| Q3 25 | 1.1% | -0.5% | ||
| Q2 25 | -0.1% | -7.8% | ||
| Q1 25 | 9.2% | 5.3% | ||
| Q4 24 | -4.2% | 0.5% | ||
| Q3 24 | 2.3% | -0.4% | ||
| Q2 24 | -0.3% | -9.5% | ||
| Q1 24 | 8.6% | -11.9% |
| Q4 25 | $-0.46 | $0.55 | ||
| Q3 25 | $0.20 | $-0.06 | ||
| Q2 25 | $-0.02 | $-0.79 | ||
| Q1 25 | $2.41 | $0.75 | ||
| Q4 24 | $-0.71 | $0.06 | ||
| Q3 24 | $0.40 | $-0.04 | ||
| Q2 24 | $-0.05 | $-0.86 | ||
| Q1 24 | $2.32 | $-1.73 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $249.0M | $80.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $653.0M | $298.5M |
| Total Assets | $5.1B | $633.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $249.0M | $80.1M | ||
| Q3 25 | $188.0M | $78.8M | ||
| Q2 25 | $138.0M | $62.5M | ||
| Q1 25 | $227.0M | $112.7M | ||
| Q4 24 | $161.0M | $48.5M | ||
| Q3 24 | $169.0M | $65.8M | ||
| Q2 24 | $105.0M | $74.9M | ||
| Q1 24 | $270.0M | $88.9M |
| Q4 25 | $653.0M | $298.5M | ||
| Q3 25 | $680.0M | $292.4M | ||
| Q2 25 | $645.0M | $298.5M | ||
| Q1 25 | $640.0M | $329.0M | ||
| Q4 24 | $429.0M | $317.1M | ||
| Q3 24 | $472.0M | $319.8M | ||
| Q2 24 | $423.0M | $337.3M | ||
| Q1 24 | $417.0M | $353.2M |
| Q4 25 | $5.1B | $633.1M | ||
| Q3 25 | $4.8B | $623.4M | ||
| Q2 25 | $4.6B | $599.1M | ||
| Q1 25 | $4.5B | $634.9M | ||
| Q4 24 | $4.9B | $646.0M | ||
| Q3 24 | $4.6B | $669.5M | ||
| Q2 24 | $4.4B | $656.6M | ||
| Q1 24 | $4.6B | $664.2M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-180.0M | $5.3M |
| Free Cash FlowOCF − Capex | $-232.0M | $3.1M |
| FCF MarginFCF / Revenue | -15.8% | 1.3% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 3.5% | 0.9% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | 0.58× |
| TTM Free Cash FlowTrailing 4 quarters | $309.0M | $38.0M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $-180.0M | $5.3M | ||
| Q3 25 | $156.0M | $12.6M | ||
| Q2 25 | $-150.0M | $-22.1M | ||
| Q1 25 | $674.0M | $54.7M | ||
| Q4 24 | $-248.0M | $-18.6M | ||
| Q3 24 | $115.0M | $3.2M | ||
| Q2 24 | $-116.0M | $-18.6M | ||
| Q1 24 | $589.0M | $37.7M |
| Q4 25 | $-232.0M | $3.1M | ||
| Q3 25 | $88.0M | $9.5M | ||
| Q2 25 | $-193.0M | $-24.3M | ||
| Q1 25 | $646.0M | $49.7M | ||
| Q4 24 | $-299.0M | $-22.3M | ||
| Q3 24 | $55.0M | $-565.0K | ||
| Q2 24 | $-155.0M | $-21.1M | ||
| Q1 24 | $557.0M | $33.5M |
| Q4 25 | -15.8% | 1.3% | ||
| Q3 25 | 6.0% | 4.4% | ||
| Q2 25 | -14.3% | -13.2% | ||
| Q1 25 | 30.7% | 17.8% | ||
| Q4 24 | -22.2% | -10.0% | ||
| Q3 24 | 3.9% | -0.3% | ||
| Q2 24 | -11.4% | -11.9% | ||
| Q1 24 | 26.7% | 11.9% |
| Q4 25 | 3.5% | 0.9% | ||
| Q3 25 | 4.7% | 1.4% | ||
| Q2 25 | 3.2% | 1.2% | ||
| Q1 25 | 1.3% | 1.8% | ||
| Q4 24 | 3.8% | 1.7% | ||
| Q3 24 | 4.2% | 1.8% | ||
| Q2 24 | 2.9% | 1.4% | ||
| Q1 24 | 1.5% | 1.5% |
| Q4 25 | — | 0.58× | ||
| Q3 25 | 9.75× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.49× | 3.71× | ||
| Q4 24 | — | -16.02× | ||
| Q3 24 | 3.59× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 3.27× | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
VSCO
| Sales Channel North America Stores | $778.0M | 53% |
| Sales Channel Directly To Consumer | $429.0M | 29% |
| Sales Channel International | $265.0M | 18% |
| Sales Channel Loyalty And Private Label Credit Card | $19.0M | 1% |
ZUMZ
Segment breakdown not available.
