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Tapestry

TPR NYSE Apparel, Accessories & Luxury Goods Financials FY2017–FY2026

Tapestry's revenue rose 14.2% to $8.0 billion in fiscal 2026. Its operating margin was 23.9%, up from 5.9% a year earlier. Free cash flow was $1.8 billion, up 65.7%. It paid out $1.9 billion in dividends and buybacks, 104% of free cash flow. The diluted share count fell 5.5%.

Last close · Oct 23, 2026

$110.37

3.1%
Value it Compare
Revenue Total sales reported in the income statement.
$8.0B
14.2% vs prior year
Operating margin Operating income as a share of revenue.
23.9%
18.0 pts
Net income Profit after all expenses, interest and tax.
$1.5B
733.9%
Free cash flow Cash from operations minus capital spending.
$1.8B
65.7%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
77.9%
63.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$23.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Tapestry does

No business description yet.

Legal name
Tapestry, Inc.
Fiscal year ends
June 27, 2026
Latest annual report
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Accession · CIK
0001116132-26-000018
0001116132

Revenue and margins

Tapestry had $8.0B of revenue in fiscal 2026, up 14.2% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 14.9% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $1.8B in fiscal 2026, 22.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Tapestry returned $1.9B to shareholders in fiscal 2026, 104% of free cash flow. The diluted share count fell 5.5%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Tapestry yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$1.2B and divides by 210.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

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Reference multiples: today 15.2x · peers 25.4x · sector 17.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Tapestry can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $953M$742M$7.2B$1.1B$1.2B
Debt incl. finance leases $1.7B$1.6B$6.9B$2.4B$2.4B
Net debt / EBITDA 0.5x0.7x−0.2x2.2x0.6x
Debt / equity 0.7x0.7x2.4x2.8x3.4x
Interest coverage 17.1x16.1x3.1x1.5x16.1x
Current ratio 1.8x1.8x5.1x1.9x1.8x
Quick ratio 1.1x1.1x4.7x1.3x1.3x
Total assets $7.3B$7.1B$13.4B$6.6B$6.7B
Total liabilities $5.0B$4.8B$10.5B$5.7B$6.0B
Shareholders' equity $2.3B$2.3B$2.9B$858M$692M
Net debt (− = net cash) $710M$897M−$265M$1.3B$1.2B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$36.2M

7 insiders

Of sales under plans

41%

$14.9M

DateInsiderTradeSharesPriceValueFiling
Sep 9, 2026 Denise KulikowskyChief People Officer Sold 5,810 $115.38 $0.7M Form 4
Aug 19, 2026 Joanne C. CrevoiseratChief Executive Officer Sold plan 27,761 $132.47 $3.7M Form 4
May 26, 2026 Todd KahnCEO and Brand President, Coach Sold 19,557 $140.02 $2.7M Form 4
May 13, 2026 Joanne C. CrevoiseratChief Executive Officer Sold plan 27,776 $132.89 $3.7M Form 4
Mar 3, 2026 Manesh DadlaniVP, Controller and PAO Sold 975 $156.05 $0.2M Form 4
Feb 18, 2026 Joanne C. CrevoiseratChief Executive Officer Sold plan 48,795 $154.87 $7.6M Form 4
Feb 17, 2026 Thomas GrecoDirector Sold 14,245 $154.44 $2.2M Form 4
Feb 11, 2026 Manesh DadlaniVP, Controller and PAO Sold 2,147 $153.47 $0.3M Form 4
Feb 10, 2026 Anne GatesDirector Sold 6,498 $153.79 $1.0M Form 4
Feb 10, 2026 Denise KulikowskyChief People Officer Sold 9,166 $155.62 $1.4M Form 4
Feb 10, 2026 Scott A. RoeCFO and COO Sold 44,290 $152.62 $6.8M Form 4
Feb 9, 2026 Todd KahnCEO and Brand President, Coach Sold 39,815 $151.34 $6.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✓ ✕
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✓ ✕ ✓
F-score 7 / 96 / 97 / 9
Accruals ratio −4.3%−10.4%−6.8%
Altman Z'' 4.160.661.69

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Tapestry TPR $23.2B 14.2% 23.9% 22.6% 77.9% — 7
Ralph Lauren RL $23.1B 14.6% 14.5% 9.2% 45.4% 23.8x 8 Compare →
PVH PVH $3.9B 3.4% 2.6% 6.0% 1.8% — 6 Compare →
VF VFC $6.8B 1.1% 6.0% 5.8% 9.0% — 7 Compare →
Amer Sports AS $15.9B 26.7% 10.7% 7.8% 8.5% — 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $4.5B $5.9B $6.0B $5.0B $5.7B $6.7B $6.7B $6.7B $7.0B $8.0B
Gross profit $3.1B $3.8B $4.1B $3.2B $4.1B $4.7B $4.7B $4.9B $5.3B $6.2B
Operating income $787M $672M $820M −$551M $968M $1.2B $1.2B $1.1B $415M $1.9B
Interest expense $26.8M $86.3M $66.9M $71.5M $73.5M $68.8M $72.8M $370M $271M $119M
Pretax income $759M $597M $766M −$624M $897M $1.0B $1.1B $1.0B $216M $1.9B
Income tax $168M $199M $123M $27.9M $63.1M $191M $207M $196M $32.9M $333M
Net income $591M $398M $643M −$652M $834M $856M $936M $816M $183M $1.5B
Diluted EPS $2.09 $1.38 $2.21 −$2.34 $2.95 $3.17 $3.88 $3.50 $0.82 $7.27
Diluted shares 0.28B 0.29B 0.29B 0.28B 0.28B 0.27B 0.24B 0.23B 0.22B 0.21B
Cash flow
Cash from operations $854M $998M $792M $407M $1.3B $853M $975M $1.3B $1.2B $2.0B
Capital expenditure $283M $267M $274M $205M $116M $93.9M $184M $109M $123M $166M
Free cash flow $571M $730M $518M $202M $1.2B $759M $791M $1.1B $1.1B $1.8B
Depreciation and amortization $219M $271M $270M $829M $221M $195M $182M $174M $163M $161M
Stock-based compensation $73.6M $81.3M $84.8M $53.1M $64.1M $72.2M $78.8M $85.9M $87.3M $105M
Acquisitions $0.0M $2.4B $43.5M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $100M $300M $0.0M $1.6B $704M $0.0M $1.7B $1.6B
Dividends paid $378M $384M $391M $380M $0.0M $264M $283M $321M $299M $326M
Dividends and buybacks $378M $384M $491M $680M $0.0M $1.9B $987M $321M $2.0B $1.9B
Balance sheet
Cash and short-term investments $3.1B $1.3B $1.2B $1.4B $2.0B $953M $742M $7.2B $1.1B $1.2B
Total debt $1.6B $1.6B $1.6B $1.6B $1.6B $1.7B $1.6B $6.9B $2.4B $2.4B
Finance lease liabilities $0.0M $0.0M $0.0M $5.3M $4.4M $3.5M $2.4M $1.2M $0.0M $0.0M
Current assets $4.0B $2.4B $2.6B $2.6B $3.4B $2.6B $2.4B $8.8B $2.9B $2.9B
Current liabilities $754M $938M $918M $1.7B $1.4B $1.5B $1.3B $1.7B $1.6B $1.6B
Inventory $470M $674M $778M $737M $735M $994M $920M $825M $861M $826M
Property and equipment, net $691M $885M $939M $775M $678M $544M $565M $515M $490M $502M
Total assets $5.8B $6.7B $6.9B $7.9B $8.4B $7.3B $7.1B $13.4B $6.6B $6.7B
Total liabilities $2.8B $3.4B $3.4B $5.6B $5.1B $5.0B $4.8B $10.5B $5.7B $6.0B
Shareholders' equity $3.0B $3.2B $3.5B $2.3B $3.3B $2.3B $2.3B $2.9B $858M $692M
Margins
Gross margin 68.7% 65.5% 67.3% 65.3% 71.0% 69.6% 70.8% 73.3% 75.4% 77.8%
Operating margin 17.5% 11.4% 13.6% −11.1% 16.9% 17.6% 17.6% 17.1% 5.9% 23.9%
EBITDA margin 22.4% 16.0% 18.1% 5.6% 20.7% 20.5% 20.3% 19.7% 8.2% 25.9%
Net margin 13.2% 6.8% 10.7% −13.1% 14.5% 12.8% 14.1% 12.2% 2.6% 19.1%
FCF margin 12.7% 12.4% 8.6% 4.1% 21.0% 11.4% 11.9% 17.2% 15.6% 22.6%
Returns
Return on capital 32.9% 17.6% 18.4% −13.8% 34.1% 33.0% 31.1% 31.7% 14.8% 77.9%
Return on capital employed 17.2% 12.4% 14.0% −9.1% 14.7% 18.4% 20.2% 13.0% 5.0% 38.0%
Return on equity 20.8% 12.7% 19.0% −22.5% 30.1% 30.9% 41.0% 31.5% 9.8% 197.1%
Return on assets 11.0% 6.4% 9.5% −8.8% 10.2% 10.9% 13.0% 8.0% 1.8% 23.0%
Growth
Revenue growth −0.1% 31.0% 2.5% −17.7% 15.8% 16.3% −0.4% 0.2% 5.1% 14.2%
Net income growth 28.3% −32.7% 61.9% −201.4% — 2.7% 9.3% −12.8% −77.6% 733.9%
EPS growth 26.7% −34.0% 60.1% −205.9% — 7.5% 22.4% −9.8% −76.6% 786.6%
FCF growth 57.6% 27.9% −29.0% −61.1% 499.1% −37.1% 4.2% 45.0% −4.6% 65.7%
Share count change 1.3% 2.1% 0.8% −4.2% 1.6% −4.6% −10.7% −3.4% −4.6% −5.5%
Financial health
Net debt / EBITDA −1.5x 0.4x 0.3x 0.6x −0.4x 0.5x 0.7x −0.2x 2.2x 0.6x
Debt / equity 0.5x 0.5x 0.5x 0.7x 0.5x 0.7x 0.7x 2.4x 2.8x 3.4x
Interest coverage 29.4x 7.8x 12.3x −7.7x 13.2x 17.1x 16.1x 3.1x 1.5x 16.1x
Current ratio 5.2x 2.6x 2.8x 1.5x 2.4x 1.8x 1.8x 5.1x 1.9x 1.8x
Quick ratio 4.6x 1.9x 1.9x 1.0x 1.9x 1.1x 1.1x 4.7x 1.3x 1.3x
Capital allocation
Capex / revenue 6.3% 4.6% 4.6% 4.1% 2.0% 1.4% 2.8% 1.6% 1.8% 2.1%
Stock comp / revenue 1.6% 1.4% 1.4% 1.1% 1.1% 1.1% 1.2% 1.3% 1.3% 1.3%
Payouts / FCF 66.2% 52.6% 94.7% 337.5% 0.0% 245.5% 124.8% 28.0% 184.5% 103.8%
Quality scores
Piotroski F-score 6.0 5.0 7.0 4.0 8.0 4.0 8.0 7.0 6.0 7.0
Altman Z'' 5.7 3.2 3.6 0.2 2.9 2.0 2.0 4.2 0.7 1.7
Accruals ratio −4.9% −9.6% −2.2% −14.3% −6.0% 0.0% −0.6% −4.3% −10.4% −6.8%

Source: SEC EDGAR XBRL filings (CIK 0001116132). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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