BURL vs VSXY: Burlington Stores and Victoria's Secret & Co. compared
Burlington Stores is the larger company, worth $15.5B, about 1.8 times Victoria's Secret & Co..
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Burlington Stores is the larger company, worth $15.5B, about 1.8 times Victoria's Secret & Co..
- Burlington Stores grew revenue faster over the last year (+10.9% vs +10.3%).
- Victoria's Secret & Co. keeps more of each dollar of revenue as operating profit (7.9% vs 7.7%).
- On earnings, Burlington Stores is the cheaper stock (22.2x vs 24.1x).
- Burlington Stores's price assumes faster free cash flow growth: about 25% a year, against 9% for Victoria's Secret & Co. (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | BURL | VSXY |
|---|---|---|
| Market cap | $15.5B | $8.6B |
| Share price | $246.76 | $108.05 |
| Revenue (last fiscal year) | $11.6B | $6.6B |
| Free cash flow (last fiscal year) | $172M | $312M |
| Revenue growth, last year | +10.9% | +10.3% |
| Revenue growth per year, last 5 fiscal years | +5.5% | -0.9% |
| Operating margin | 7.7% | 7.9% |
| Net margin | 5.8% | 5.5% |
| Return on equity | 35.7% | 38.2% |
| P/E (trailing) | 22.2x | 24.1x |
| Price / free cash flow | 37.6x | 15.6x |
| EV / EBITDA | 11.4x | 11.8x |
| FCF growth the price implies | 25.0% | 9.3% |
| Dividend yield | — | — |
| Debt / equity | 0.96x | 0.98x |
| Fundamental grade | C | C |
| Superinvestors holding it | 21 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Burlington Stores
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $9.3B | $481M | 5.8% |
| 2023 | $8.7B | $149M | 3.5% |
| 2024 | $9.7B | $376M | 4.8% |
| 2025 | $10.6B | -$17M | 6.3% |
| 2026 | $11.6B | $172M | 7.1% |
Victoria's Secret & Co.
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $6.8B | $682M | 12.8% |
| 2023 | $6.3B | $273M | 7.5% |
| 2024 | $6.2B | $133M | 4.0% |
| 2025 | $6.2B | $247M | 5.0% |
| 2026 | $6.6B | $312M | 4.1% |
Where the revenue comes from
Burlington Stores
No segment breakdown reported.
Victoria's Secret & Co. · by regions, 2026
Questions
Which is bigger, Burlington Stores or Victoria's Secret & Co.?
Burlington Stores (BURL), at $15.5B against $8.6B.
Is BURL or VSXY cheaper?
By trailing P/E, Burlington Stores (22.2x) is cheaper than Victoria's Secret & Co. (24.1x). A lower multiple can also mean the market expects less growth.
Which grows faster, BURL or VSXY?
Burlington Stores: revenue grew +10.9% over the last year, against +10.3%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.