Victoria's Secret & Co. (VSXY)

Retail-Women's Clothing Stores

Latest Price

$92.27

TTM P/E

20.55

Normalized P/E

29.29

TTM Div Yield

Fwd Div Yield

Book Value

12.41

P/B Ratio

7.43

Valuation metrics

EPS: $1.93

Book value / share: $10.70

Formula: √(22.5 × EPS × BVPS)

Graham Number

$21.56

77% downside

Norm. op. income: $271M (median of 5yr)

Tax rate: 20%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$21.38

77% downside

Base FCF: $312M (median of recent 5yr)

Growth: 5%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$60.01

35% downside

EPS: $1.93

Target P/E: 29×

Formula: EPS × P/E

P/E Fair Value

$55.97

39% downside