TJX Companies Inc (TJX) is overvalued and Victoria's Secret & Co (VSXY) is overvalued.
Both trade above our estimate of their intrinsic value. VSXY is the closer of the two: -45%, against -56% for TJX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.4% (average of 3 methods) values the shares at $83.94; the price of $130.79 is 56% above that value, and 78% of that value comes from beyond year five.
Leak Score 62/100 on 10 of 12 signals
Discounting its cash flows at 11.1% (average of 3 methods) values the shares at $57.96; the price of $83.82 is 45% above that value, and 69% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
| Metric | TJX | VSXY |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $130.79 | $83.82 |
| Intrinsic value | $83.94 | $57.96 |
| Margin of safety | -56% | -45% |
| Leak Score | 62/100 (10/12) | 14/100 (3/12) |
| Market cap | $143.9B | $6.7B |
| Revenue growth, 5 years | 13.4% | 3.9% |
| Operating margin | 12.4% | 9.8% |
| Net margin | 9.7% | 5.5% |
| Return on equity | 62.2% | 45.2% |
| Debt to equity | 1.34 | 2.93 |
| P/E | 24.2x | 18.9x |
| Forward P/E | 22.6x | 14.9x |
| P/B | 13.5x | 6.8x |
| Dividend yield | 1.4% | — |