Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price81.45 USD
Fair valueUnder review
Ethical score70.0/100
Our investment reviews on this name
2026-07-02Read Markup54.30+50.0% to today ✓First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Victoria's Secret & Co. holds its Markup at $81.45. The statistical read favours the buyers, held for 1 days.
As held on the ledger · 2026-07-17
Phase
Markup
Quantitative state
The statistical read favours the buyers, held for 1 days
Price at the screen
$81.45
Valuation
42.20 trailing · 19.55 forward price to earnings
Values screen
FAIL· score 70.0
Beta
2.25
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
56.77%
Below 33%
Interest-bearing debt is 56.8% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
14.04%
Below 49%
Money owed to the company is 14.0% of assets, under the 49% limit.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Victoria's Secret &'s business is in a permissible area, but its interest-bearing debt is about 57% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-04. It updates when the underlying figures move, and past reads are kept below.
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Today VSCO does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Fair value under review. Its inputs are 110 days old. We show no fair value, margin of safety or value read built on it until the review clears.
Where our models see it going: no fair-value estimate yet, range not available, dated to the 2026-07-17 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Victoria's Secret shows classic cyclical value trap
Picture a shopper skipping the premium bra aisle when wages feel tight. Victoria's Secret reports 15% revenue growth and a forward multiple of just 13 times, yet the 3% profit margin and unknown moat signal earnings that peak with the cycle rather than compound through it. The market already prices the shares at a 46% discount to our fair value, but that gap reflects temporary strength, not durable advantage.
Analysts call it a buy with a $67 median target, and the business clears our ethical screen without issue. Still, apparel retail tied to discretionary spending rarely rewards low multiples with lasting gains once consumer confidence fades. The low margin leaves little room for error when input costs or fashion shifts hit.
Risk sits in the cyclical exposure and thin profitability, both of which can turn a seemingly cheap valuation into a trap rather than an opportunity. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it already moves more than the market on an average day; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
VSCO trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-04Markup$81.45+0.0%Entry 8
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 83% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 230%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (9 analysts) rates it buy, with a mean price target of $66.
2026-10-23Markup$81.45+0.0%Entry 7
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 83% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 230%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (9 analysts) rates it buy, with a mean price target of $66.
2026-10-02Markup$81.45+50.0%Entry 6
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 50.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 35% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 230%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (9 analysts) rates it buy, with a mean price target of $66. Since the last review it its composite score eased.
2026-09-16Markup$54.30+0.0%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 35% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 230%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (9 analysts) rates it buy, with a mean price target of $66.
2026-08-16Markup$54.30+0.0%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 35% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 230%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (9 analysts) rates it buy, with a mean price target of $66.
2026-07-18Markup$54.30+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 35% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 230%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (9 analysts) rates it buy, with a mean price target of $66.
2026-07-03Markup$54.30+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$54.30Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.