TJX Companies
TJX · Apparel Retail
$145.06
1.6%Victoria's Secret
VSXY · Apparel Retail
$90.82
2.7%The short version
- TJX Companies is the larger business, with $60.4B of revenue in fiscal 2026 against $6.6B for Victoria's Secret, about 9.2 times as much.
- TJX Companies grew revenue faster (7.1%, against 5.2%).
- TJX Companies turned more of its sales into free cash flow (8.1% FCF margin, against 4.8% FCF margin).
- TJX Companies earned a higher return on the capital invested in it (87.1%, against 17.7%).
- Investors pay more for each dollar of TJX Companies’s earnings: a P/E of 26.9x against 20.2x for Victoria's Secret.
| Latest fiscal year | TJX · FY26 | VSXY · FY25 |
|---|---|---|
| Size | ||
| Market cap | $162.0B | $7.6B |
| Revenue | $60.4B | $6.6B |
| Free cash flow | $4.9B | $312M |
| Net income | $5.5B | $161M |
| Growth | ||
| Revenue growth | 7.1% | 5.2% |
| 5-year growth | 13.4% | 3.9% |
| Share count change | −1.2% | 2.5% |
| Profitability | ||
| Gross margin | 31.0% | 36.4% |
| Operating margin | — | 4.1% |
| Net margin | 9.1% | 2.5% |
| FCF margin | 8.1% | 4.8% |
| Return on capital | 87.1% | 17.7% |
| Return on equity | 59.1% | 21.5% |
| Balance sheet | ||
| Net debt | −$3.4B | $457M |
| Net debt / EBITDA | −0.4x | 0.9x |
| Dividends and buybacks | $4.4B | $0.0M |
| Valuation & quality | ||
| P/E | 26.9x | 20.2x |
| Piotroski F-score | 8 | 6 |
FY17
TJX $33.2B
VSXY —
FY18
TJX $35.9B
VSXY —
FY19
TJX $39.0B
VSXY $7.5B
FY20
TJX $41.7B
VSXY $5.4B
FY21
TJX $32.1B
VSXY $6.8B
FY22
TJX $48.6B
VSXY $6.3B
FY23
TJX $49.9B
VSXY $6.2B
FY24
TJX $54.2B
VSXY $6.2B
FY25
TJX $56.4B
VSXY $6.6B
FY26
TJX $60.4B
VSXY —
TJX
VSXY
FY17
TJX 12.8%
VSXY —
FY18
TJX 12.3%
VSXY —
FY19
TJX 12.2%
VSXY −11.9%
FY20
TJX —
VSXY −1.9%
FY21
TJX —
VSXY 12.8%
FY22
TJX —
VSXY 7.5%
FY23
TJX —
VSXY 4.0%
FY24
TJX —
VSXY 5.0%
FY25
TJX —
VSXY 4.1%
FY26
TJX —
VSXY —
TJX
VSXY
FY17
TJX $2.6B
VSXY —
FY18
TJX $2.0B
VSXY —
FY19
TJX $3.0B
VSXY $90.0M
FY20
TJX $2.8B
VSXY $547M
FY21
TJX $4.0B
VSXY $682M
FY22
TJX $2.0B
VSXY $273M
FY23
TJX $2.6B
VSXY $133M
FY24
TJX $4.3B
VSXY $247M
FY25
TJX $4.2B
VSXY $312M
FY26
TJX $4.9B
VSXY —
TJX
VSXY
FY17
TJX 77.9%
VSXY —
FY18
TJX 80.7%
VSXY —
FY19
TJX 83.5%
VSXY —
FY20
TJX 72.0%
VSXY —
FY21
TJX 9.0%
VSXY 95.1%
FY22
TJX —
VSXY 38.8%
FY23
TJX 96.7%
VSXY 15.3%
FY24
TJX 103.0%
VSXY 17.5%
FY25
TJX 93.9%
VSXY 17.7%
FY26
TJX 87.1%
VSXY —
TJX
VSXY
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.