How many subsidiaries does Victoria's Secret & Co. file with the SEC?

14, listed in its most recent exhibit 21. They are incorporated across 3 jurisdictions (Hong Kong, Malta, Delaware). 1 of them sit in offshore financial centres. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is Victoria's Secret & Co. financially healthy?

Victoria's Secret & Co. scores 5 out of 9 on the Piotroski F-score. Its Altman Z-score puts it in the grey zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of Victoria's Secret & Co.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

Victoria's Secret & Co. (VSXY)

NYSE · Common Stock · Retail-Women's Clothing Stores

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

American retailer of lingerie

Corporate structure

14 entities across 3 jurisdictions, 1 in offshore financial centres. Read directly from the company’s own 10-K EX-21 filed 2026-03-20 — see the exhibit.

Which other public companies file entities in the same places:

Delaware10 Hong Kong3 Malta1

Subsidiaries of Victoria's Secret & Co. as disclosed in its SEC filing
Entity	Jurisdiction	Note
ASLA APAC Global Limited	Hong Kong
ASLA V Holdings Limited	Malta	offshore centre
IB International Holdings, Inc.	Delaware
IB US Retail Holdings, Inc.	Delaware
Intimate Apparel Brand Management, LP	Delaware
LBIB HK Limited	Hong Kong
Mast Industries (Far East) Limited	Hong Kong
MII Brand Import, LLC	Delaware
Victoria's Secret Direct Brand Management, LLC	Delaware
Victoria's Secret Stores Brand Management, LLC	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2026 against FY2025. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

5 / 9

PASSReturn on assets positiveROA 3.2%
PASSOperating cash flow positiveOCF 499M
FAILReturn on assets improving3.6% → 3.2%
PASSCash flow exceeds earningsOCF 499M vs NI 161M
PASSLong-term debt ratio falling21.5% → 19.4% of assets
PASSCurrent ratio improving1.05 → 1.25
FAILNo share dilution81M → 83M shares
FAILGross margin improving36.7% → 36.4%
FAILAsset turnover improving1.37× → 1.31×

Altman Z-score

2.68grey

Bankruptcy-risk screen combining working capital, retained earnings, operating income, market value against liabilities, and asset turnover. Above 2.99 is the safe zone; below 1.81 is distress.

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2021	$5.4B	−$72.0M	$547.0M	29.0%	88,000,000
FY2022	$6.8B	$646.0M	$682.0M	40.7%	90,000,000
FY2023	$6.3B	$348.0M	$273.0M	35.6%	84,000,000
FY2024	$6.2B	$109.0M	$133.0M	36.3%	79,000,000
FY2025	$6.2B	$165.0M	$247.0M	36.7%	81,000,000

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of Victoria's Secret & Co. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	2,107,381	+77,568	$176.0M

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Shares repurchased

2026Q1: $100.0M
2025Q1: $0
2024Q1: $0
2023Q1: $125.0M
2022Q1: $109.0M
2021Q1: $0

Identity

CIK: 0001856437
LEI: 5493006T3O70U3UWVF17
FIGI: BBG01103B471
SIC: 5621 · Retail-Women's Clothing Stores
Headquarters: REYNOLDSBURG, OH
Employees: 31,000 (2025)
Founded: 1977-06-12

Ownership

Institutional: 108.7%
Institutions: 583
Insiders: 10.5%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Related companies

Companies filing in the same SEC industry group.

CATO CORPCATO Zumiez IncZUMZ AMERICAN EAGLE OUTFITTERS INCAEO ABERCROMBIE & FITCH CO /DE/ANF DESTINATION XL GROUP, INC.DXLG GAP INCGAP

Questions about Victoria's Secret & Co.

How many subsidiaries does Victoria's Secret & Co. file with the SEC?: 14, listed in its most recent exhibit 21. They are incorporated across 3 jurisdictions (Hong Kong, Malta, Delaware). 1 of them sit in offshore financial centres. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is Victoria's Secret & Co. financially healthy?: Victoria's Secret & Co. scores 5 out of 9 on the Piotroski F-score. Its Altman Z-score puts it in the grey zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of Victoria's Secret & Co.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.