Gap vs Victoria's Secret
Gap reported revenue of $15.4 billion in fiscal 2025, 2.3 times Victoria's Secret's $6.6 billion in fiscal 2025. Gap's revenue grew 1.9% in its latest year, and Victoria's Secret's grew 5.2%. Gap had an operating margin of 7.3%, against 4.1% at Victoria's Secret. Free cash flow was $823 million at Gap and $312 million at Victoria's Secret.
Side by side
| Gap | Victoria's Secret | |
|---|---|---|
| Latest fiscal year | FY2025, Jan 31, 2026 | FY2025, Jan 31, 2026 |
| Revenue | $15.4B | $6.6B |
| Revenue growth | 1.9% | 5.2% |
| Revenue growth a year, last 5 years | 2.2% | 3.9% |
| Gross margin | 40.8% | 36.4% |
| Operating margin | 7.3% | 4.1% |
| Net margin | 5.3% | 2.5% |
| Free cash flow | $823M | $312M |
| Free cash flow margin | 5.4% | 4.8% |
| Return on capital | 36.1% | 17.7% |
| Net debt to EBITDA | −0.9x | 0.9x |
| Dividends and buybacks | $402M | $0M |
| Change in diluted share count | 0.0% | 2.5% |
| Last close | $22.26 | $94.96 |
| P/E at the last close | 6.7× | 21.1× |
| Insider trades, last 12 months | sold $83.8 million | bought $322,604, sold $212.4 million |
| Piotroski F-score | 6 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
GapVictoria's Secret
Operating margin
Percent of revenue
GapVictoria's Secret
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
GapVictoria's Secret
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Gap and Victoria's Secret pages.