Tapestry (TPR) Financials

$141.59 +1.85 (+1.32%)

As of 02:11 PM Eastern

Annual Income Statements for Tapestry

This table shows Tapestry's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/27/2015	7/2/2016	7/1/2017	6/30/2018	6/29/2019	6/27/2020	7/3/2021	7/2/2022	7/1/2023	6/29/2024	6/28/2025
Net Income / (Loss) Attributable to Common Shareholders	402	461	591	398	643	-652	834	856	936	816	183
Consolidated Net Income / (Loss)	402	461	591	398	643	-652	834	856	936	816	183
Net Income / (Loss) Continuing Operations	402	461	591	398	643	-652	834	856	936	816	183
Total Pre-Tax Income	612	627	759	597	766	-624	897	1,047	1,143	1,012	216
Total Operating Income	618	654	787	672	820	-551	968	1,176	1,172	1,140	415
Total Gross Profit	2,909	3,051	3,081	3,849	4,054	3,239	4,082	4,650	4,715	4,890	5,289
Total Revenue	4,192	4,492	4,488	5,880	6,027	4,961	5,746	6,685	6,661	6,671	7,011
Operating Revenue	4,192	4,492	4,488	5,880	6,027	4,961	5,746	6,685	6,661	6,671	7,011
Total Cost of Revenue	1,283	1,441	1,407	2,032	1,973	1,722	1,664	2,034	1,946	1,782	1,722
Operating Cost of Revenue	1,283	1,441	1,407	2,032	1,973	1,722	1,664	2,034	1,946	1,782	1,722
Total Operating Expenses	2,291	2,398	2,294	3,177	3,234	3,790	3,114	3,475	3,543	3,749	4,874
Selling, General & Admin Expense	2,291	2,398	2,294	3,177	3,234	3,312	3,114	3,475	3,543	3,749	4,019
Impairment Charge	-	-	-	0.00	0.00	478	-	-	0.00	0.00	855
Total Other Income / (Expense), net	-6.40	-27	-28	-75	-54	-73	-71	-129	-29	-128	-199
Interest Expense	6.40	27	28	74	48	60	71	112	28	125	206
Other Income / (Expense), net	-	-	-	-1.20	-5.60	-13	0.70	-16	-1.70	-3.20	6.60
Income Tax Expense	209	166	168	199	123	28	63	191	207	196	33
Basic Earnings per Share	$1.46	$1.66	$2.11	$1.39	$2.22	($2.34)	$3.00	$3.24	$3.96	$3.56	$0.84
Weighted Average Basic Shares Outstanding	275.70M	277.60M	280.60M	285.40M	289.40M	278.60M	277.90M	264.30M	236.40M	229.20M	216.80M
Diluted Earnings per Share	$1.45	$1.65	$2.09	$1.38	$2.21	($2.34)	$2.95	$3.17	$3.88	$3.50	$0.82
Weighted Average Diluted Shares Outstanding	277.20M	279.30M	282.80M	288.60M	290.80M	278.60M	283M	270.10M	241.30M	233.20M	222.50M
Weighted Average Basic & Diluted Shares Outstanding	275.60M	277.40M	280.10M	286M	289.80M	276.24M	279.58M	241.22M	227.44M	230.22M	208.12M
Cash Dividends to Common per Share	$1.35	$1.35	$1.35	$1.35	$1.35	$1.01	$0.00	$1.00	$1.20	$1.40	$1.40

This table shows Tapestry's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	7/1/2023	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025
Net Income / (Loss) Attributable to Common Shareholders	224	195	322	139	159	187	310	203	-517	275	561
Consolidated Net Income / (Loss)	224	195	322	139	159	187	310	203	-517	275	561
Net Income / (Loss) Continuing Operations	224	195	322	139	159	187	310	203	-517	275	561
Total Pre-Tax Income	267	239	403	170	201	226	345	239	-594	319	697
Total Operating Income	274	253	448	204	235	252	493	254	-584	328	716
Total Gross Profit	1,173	1,098	1,493	1,107	1,191	1,135	1,633	1,206	1,315	1,301	1,888
Total Revenue	1,620	1,513	2,085	1,482	1,591	1,508	2,195	1,585	1,723	1,705	2,502
Operating Revenue	1,620	1,513	2,085	1,482	1,591	1,508	2,195	1,585	1,723	1,705	2,502
Total Cost of Revenue	447	416	591	375	400	373	562	379	408	404	614
Operating Cost of Revenue	447	416	591	375	400	373	562	379	408	404	614
Total Operating Expenses	899	845	1,046	903	956	883	1,140	952	1,899	972	1,172
Selling, General & Admin Expense	899	845	1,046	903	956	883	1,140	952	1,044	972	1,172
Total Other Income / (Expense), net	-6.80	-15	-45	-35	-34	-26	-148	-15	-11	-9.50	-19
Interest Expense	6.20	13	49	32	31	31	145	15	15	13	17
Other Income / (Expense), net	-0.60	-1.40	4.70	-2.80	-3.70	4.40	-2.90	0.80	4.30	3.30	-1.90
Income Tax Expense	43	44	81	30	42	39	35	36	-77	44	136
Basic Earnings per Share	$0.97	$0.85	$1.41	$0.61	$0.69	$0.81	$1.41	$0.98	($2.36)	$1.32	$2.75
Weighted Average Basic Shares Outstanding	236.40M	228.30M	229.30M	229.50M	229.20M	231.50M	219.90M	207.30M	216.80M	207.60M	204.10M
Diluted Earnings per Share	$0.95	$0.84	$1.39	$0.60	$0.67	$0.79	$1.38	$0.95	($2.30)	$1.28	$2.68
Weighted Average Diluted Shares Outstanding	241.30M	232.50M	231.70M	234.20M	233.20M	235.90M	224.90M	213.90M	222.50M	215.50M	209.80M
Weighted Average Basic & Diluted Shares Outstanding	227.44M	229.19M	229.37M	229.77M	230.22M	233.04M	207.02M	207.69M	208.12M	204.65M	202.46M

This table details how cash moves in and out of Tapestry's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/27/2015	7/2/2016	7/1/2017	6/30/2018	6/29/2019	6/27/2020	7/3/2021	7/2/2022	7/1/2023	6/29/2024	6/28/2025
Net Change in Cash & Equivalents	700	-433	1,814	-1,418	-267	457	581	-1,218	-64	5,416	-5,042
Net Cash From Operating Activities	937	759	854	998	792	407	1,324	853	975	1,256	1,217
Net Cash From Continuing Operating Activities	937	759	854	998	792	407	1,324	853	975	1,256	1,217
Net Income / (Loss) Continuing Operations	402	461	591	398	643	-652	834	856	936	816	183
Consolidated Net Income / (Loss)	402	461	591	398	643	-652	834	856	936	816	183
Depreciation Expense	192	211	213	260	268	248	219	195	182	174	163
Amortization Expense	-	-	-	-	-	-	-	11	42	55	62
Non-Cash Adjustments To Reconcile Net Income	153	103	69	221	119	1,007	-12	139	33	40	988
Changes in Operating Assets and Liabilities, net	191	-15	-19	119	-238	-196	283	-348	-218	170	-179
Net Cash From Investing Activities	-613	-810	593	-2,165	-574	44	-91	-254	5.70	-1,042	914
Net Cash From Continuing Investing Activities	-613	-810	593	-2,165	-574	44	-91	-254	5.70	-1,042	914
Purchase of Property, Plant & Equipment	-199	-396	-283	-267	-274	-205	-116	-94	-184	-109	-123
Purchase of Investments	-50	-665	-524	-3.80	-416	-212	-0.70	-540	-6.70	-2,713	-1,886
Sale and/or Maturity of Investments	305	426	1,272	482	159	462	1.80	381	197	1,780	2,923
Net Cash From Financing Activities	389	-385	370	-251	-486	5.90	-666	-1,778	-1,036	5,214	-7,175
Net Cash From Continuing Financing Activities	389	-385	370	-251	-486	5.90	-666	-1,778	-1,036	5,214	-7,175
Repayment of Debt	-147	-15	-295	-1,100	0.00	-3.20	-720	-956	-32	-548	-7,225
Repurchase of Preferred Equity	-	-	-	-	-	-	-	-	0.00	0.00	-300
Repurchase of Common Equity	-	-	0.00	0.00	-100	-300	0.00	-1,600	-704	0.00	-1,719
Payment of Dividends	-372	-375	-378	-384	-391	-380	0.00	-264	-283	-321	-299
Issuance of Debt	897	0.00	997	1,100	0.00	700	0.00	999	0.00	6,090	2,248
Issuance of Common Equity	37	29	70	166	35	4.30	61	75	39	27	156
Other Financing Activities, net	-25	-25	-25	-32	-30	-15	-7.50	-31	-56	-33	-37
Effect of Exchange Rate Changes	-14	3.50	-2.40	-	-	-0.10	15	-39	-8.70	-12	26
Cash Interest Paid	1.40	34	35	63	64	68	70	68	83	263	395
Cash Income Taxes Paid	180	159	159	16	184	87	252	180	232	200	190

This table details how cash moves in and out of Tapestry's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	7/1/2023	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025
Net Change in Cash & Equivalents	89	-104	6,211	142	-833	321	-5,480	54	62	-381	334
Net Cash From Operating Activities	400	75	827	98	256	120	506	144	447	113	1,081
Net Cash From Continuing Operating Activities	400	75	827	98	256	120	506	144	447	113	1,081
Net Income / (Loss) Continuing Operations	224	195	322	139	159	187	310	203	-517	275	561
Consolidated Net Income / (Loss)	224	195	322	139	159	187	310	203	-517	275	561
Depreciation Expense	52	44	42	40	48	41	41	38	43	37	39
Amortization Expense	-	13	13	-	-	14	15	15	18	14	14
Non-Cash Adjustments To Reconcile Net Income	19	13	28	6.10	-7.40	-12	116	23	861	20	18
Changes in Operating Assets and Liabilities, net	64	-191	421	-88	0.90	-110	25	-135	42	-233	449
Net Cash From Investing Activities	-35	-23	-632	169	-556	190	789	-31	-34	69	-43
Net Cash From Continuing Investing Activities	-35	-23	-632	169	-556	190	789	-31	-34	69	-43
Purchase of Property, Plant & Equipment	-35	-21	-23	-19	-46	-26	-31	-31	-35	-32	-44
Purchase of Investments	-0.40	-1.90	-609	-515	-1,587	-1,479	-406	-0.60	-0.30	-8.40	-0.30
Sale and/or Maturity of Investments	0.10	0.00	-	703	1,077	1,695	1,227	0.30	1.40	0.50	0.50
Net Cash From Financing Activities	-267	-149	5,959	-76	-519	-75	-6,701	-33	-367	-551	-706
Net Cash From Continuing Financing Activities	-267	-149	5,959	-76	-519	-75	-6,701	-33	-367	-551	-706
Repurchase of Common Equity	-202	-	-	-	-	0.00	-	-52	-53	-698	-404
Payment of Dividends	-69	-80	-80	-81	-81	-81	-72	-73	-73	-83	-81
Issuance of Debt	-	-	-	-	-	0.00	-	-	-	240	-240
Issuance of Common Equity	10	0.40	2.90	12	12	42	73	28	14	70	21
Other Financing Activities, net	0.50	-32	-0.60	-0.40	0.20	-35	-0.80	-1.10	0.20	-79	-2.10
Effect of Exchange Rate Changes	-9.40	-7.10	58	-49	-14	86	-74	3.10	11	-12	1.80
Cash Interest Paid	18	27	19	28	189	24	301	25	45	83	41
Cash Income Taxes Paid	41	42	51	59	48	65	41	45	38	35	16

This table presents Tapestry's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/27/2015	7/2/2016	7/1/2017	6/30/2018	6/29/2019	6/27/2020	7/3/2021	7/2/2022	7/1/2023	6/29/2024	6/28/2025
Total Assets	4,667	4,893	5,832	6,678	6,877	7,924	8,382	7,265	7,117	13,396	6,581
Total Current Assets	2,507	2,173	3,953	2,433	2,557	2,553	3,375	2,574	2,364	8,804	2,906
Cash & Equivalents	1,292	859	2,673	1,243	969	1,426	2,008	790	726	6,142	1,100
Short-Term Investments	234	460	411	6.60	265	-	8.10	163	15	1,062	20
Accounts Receivable	220	245	268	314	298	193	200	252	212	228	239
Inventories, net	485	459	470	674	778	737	735	994	920	825	861
Prepaid Expenses	73	58	59	83	100	58	94	105	126	171	134
Current Deferred & Refundable Income Taxes	98	14	42	26	56	46	255	217	231	236	277
Other Current Assets	105	78	32	86	91	93	76	52	134	140	99
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	0.00	176
Plant, Property, & Equipment, net	733	920	691	885	939	0.00	0.00	544	565	515	490
Total Noncurrent Assets	1,428	1,800	1,187	3,360	3,382	5,371	5,007	4,147	4,189	4,078	3,185
Goodwill	434	502	481	1,484	1,516	1,301	1,297	1,242	1,228	1,204	983
Intangible Assets	360	347	341	1,733	1,712	1,379	1,373	1,367	1,360	1,354	720
Noncurrent Deferred & Refundable Income Taxes	116	249	171	24	19	-	66	48	40	44	34
Other Noncurrent Operating Assets	112	144	120	119	134	2,691	2,271	1,491	1,561	1,476	1,449
Total Liabilities & Shareholders' Equity	4,667	4,893	5,832	6,678	6,877	7,924	8,382	7,265	7,117	13,396	6,581
Total Liabilities	2,177	2,210	2,830	3,434	3,364	5,648	5,123	4,980	4,839	10,499	5,723
Total Current Liabilities	835	827	754	938	918	1,742	1,426	1,469	1,287	1,712	1,557
Short-Term Debt	11	15	0.00	0.70	0.80	712	0.00	31	25	303	17
Accounts Payable	223	187	195	264	244	131	445	521	417	452	456
Accrued Expenses	601	625	559	673	674	511	661	628	547	656	737
Other Current Liabilities	-	-	-	-	0.00	389	319	289	298	300	299
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	0.00	48
Total Noncurrent Liabilities	1,342	1,383	2,076	2,496	2,446	3,906	3,697	3,511	3,553	8,788	4,166
Long-Term Debt	879	861	1,580	1,600	1,602	1,588	1,591	1,659	1,636	6,937	2,378
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	63	206	234	155	204	222	240	251	80
Other Noncurrent Operating Liabilities	463	522	433	467	454	2,163	1,776	1,535	1,633	1,599	1,708
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,490	2,683	3,002	3,245	3,513	2,276	3,259	2,286	2,278	2,897	858
Total Preferred & Common Equity	2,490	2,683	3,002	3,245	3,513	2,276	3,259	2,286	2,278	2,897	858
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,490	2,683	3,002	3,245	3,513	2,276	3,259	2,286	2,278	2,897	858
Common Stock	2,757	2,860	2,981	3,208	3,305	3,361	3,490	3,623	3,685	3,765	3,676
Retained Earnings	-190	-104	108	119	292	-993	-159	-1,166	-1,217	-722	-2,557
Accumulated Other Comprehensive Income / (Loss)	-78	-73	-87	-83	-83	-92	-72	-171	-190	-146	-261

This table presents Tapestry's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	4/1/2023	7/1/2023	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	9/27/2025	12/27/2025
Total Assets	6,984	7,117	7,143	13,815	13,728	13,396	13,729	7,252	7,306	6,363	6,531
Total Current Assets	2,219	2,364	2,409	9,043	8,997	8,804	9,146	2,772	2,861	2,621	2,791
Cash & Equivalents	637	726	622	6,833	6,975	6,142	6,463	983	1,038	720	1,053
Short-Term Investments	15	15	17	629	443	1,062	842	20	19	24	24
Accounts Receivable	241	212	265	246	277	228	279	297	256	290	338
Inventories, net	934	920	943	825	824	825	1,031	937	874	1,019	896
Prepaid Expenses	120	126	161	141	128	171	175	158	133	143	139
Current Deferred & Refundable Income Taxes	203	231	247	242	223	236	263	267	276	321	232
Other Current Assets	69	134	155	127	128	140	93	109	92	105	108
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	174	0.00	0.00
Plant, Property, & Equipment, net	578	565	540	539	518	515	513	498	485	488	492
Total Noncurrent Assets	4,187	4,189	4,194	4,234	4,213	4,078	4,070	3,982	3,960	3,255	3,248
Goodwill	1,245	1,228	1,219	1,233	1,217	1,204	1,232	1,205	1,216	975	967
Intangible Assets	1,362	1,360	1,359	1,357	1,355	1,354	1,352	1,350	1,331	719	718
Noncurrent Deferred & Refundable Income Taxes	45	40	39	40	38	44	47	43	43	33	34
Other Noncurrent Operating Assets	1,535	1,561	1,578	1,603	1,603	1,476	1,439	1,384	1,369	1,528	1,530
Total Liabilities & Shareholders' Equity	6,984	7,117	7,143	13,815	13,728	13,396	13,729	7,252	7,306	6,363	6,531
Total Liabilities	4,721	4,839	4,727	11,156	10,953	10,499	10,747	5,915	5,812	5,964	5,980
Total Current Liabilities	1,146	1,287	1,194	1,448	1,366	1,712	1,854	1,751	1,628	1,719	1,717
Short-Term Debt	25	25	25	25	25	303	303	303	320	257	17
Accounts Payable	331	417	387	463	373	452	544	514	393	496	565
Accrued Expenses	495	547	487	654	659	656	709	650	584	658	821
Other Current Liabilities	295	298	296	306	309	300	298	284	281	309	314
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	50	0.00	0.00
Total Noncurrent Liabilities	3,575	3,553	3,533	9,708	9,587	8,788	8,893	4,164	4,185	4,245	4,263
Long-Term Debt	1,642	1,636	1,630	7,714	7,674	6,937	7,008	2,377	2,377	2,379	2,379
Noncurrent Deferred & Payable Income Tax Liabilities	220	240	284	308	286	251	247	274	286	151	198
Other Noncurrent Operating Liabilities	1,650	1,633	1,586	1,664	1,616	1,599	1,638	1,514	1,521	1,715	1,686
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,263	2,278	2,416	2,660	2,775	2,897	2,982	1,337	1,494	400	551
Total Preferred & Common Equity	2,263	2,278	2,416	2,660	2,775	2,897	2,982	1,337	1,494	400	551
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,263	2,278	2,416	2,660	2,775	2,897	2,982	1,337	1,494	400	551
Common Stock	3,652	3,685	3,673	3,698	3,733	3,765	3,791	3,485	3,588	3,991	4,040
Retained Earnings	-1,171	-1,217	-1,102	-860	-801	-722	-617	-1,992	-1,914	-3,364	-3,287
Accumulated Other Comprehensive Income / (Loss)	-218	-190	-155	-178	-157	-146	-192	-157	-180	-228	-202

This table displays calculated financial ratios and metrics derived from Tapestry's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/27/2015	7/2/2016	7/1/2017	6/30/2018	6/29/2019	6/27/2020	7/3/2021	7/2/2022	7/1/2023	6/29/2024	6/28/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-12.79%	7.16%	-0.08%	31.01%	2.50%	-17.68%	15.82%	16.33%	-0.35%	0.15%	5.09%
EBITDA Growth	-38.16%	6.71%	15.75%	-6.91%	16.24%	-129.18%	476.00%	14.99%	2.16%	-2.08%	-52.67%
EBIT Growth	-44.83%	5.74%	20.49%	-14.81%	21.36%	-169.29%	271.72%	19.69%	0.97%	-2.89%	-62.92%
NOPAT Growth	-47.85%	18.12%	27.66%	-27.00%	53.79%	-156.01%	333.41%	6.86%	-0.17%	-4.23%	-61.73%
Net Income Growth	-48.50%	14.44%	28.34%	-32.74%	61.86%	-201.35%	227.93%	2.65%	9.31%	-12.82%	-77.55%
EPS Growth	-48.03%	13.79%	26.67%	-33.97%	60.14%	-205.88%	226.07%	7.46%	22.40%	-9.79%	-76.57%
Operating Cash Flow Growth	-4.87%	-19.07%	12.55%	16.83%	-20.56%	-48.64%	225.23%	-35.54%	14.30%	28.75%	-3.11%
Free Cash Flow Firm Growth	-74.43%	49.10%	251.89%	-297.92%	123.27%	-13.50%	250.07%	-36.38%	1.61%	50.56%	8.30%
Invested Capital Growth	19.91%	16.06%	-15.37%	152.70%	7.98%	-18.87%	-10.01%	6.65%	5.77%	-8.24%	-31.67%
Revenue Q/Q Growth	-3.06%	3.47%	-0.46%	6.33%	0.50%	-13.87%	18.59%	0.14%	-0.08%	-0.42%	1.92%
EBITDA Q/Q Growth	-6.65%	9.84%	9.44%	0.19%	-1.47%	-297.87%	82.62%	-0.86%	6.01%	0.72%	-55.65%
EBIT Q/Q Growth	-8.98%	13.55%	10.71%	-0.86%	-2.74%	-396.13%	125.49%	-1.55%	2.86%	-3.54%	-65.78%
NOPAT Q/Q Growth	-12.68%	17.41%	14.05%	18.27%	-9.16%	-452.46%	118.57%	-0.92%	2.63%	-4.55%	-66.46%
Net Income Q/Q Growth	-13.65%	17.87%	13.48%	17.78%	-8.89%	-211.41%	144.92%	-1.27%	3.92%	-7.36%	-78.69%
EPS Q/Q Growth	-14.20%	17.86%	12.97%	17.95%	-9.43%	-196.20%	141.80%	2.26%	5.15%	-7.41%	-78.36%
Operating Cash Flow Q/Q Growth	-12.14%	9.03%	9.55%	9.58%	-21.84%	-35.98%	46.18%	-14.29%	20.16%	-10.31%	18.60%
Free Cash Flow Firm Q/Q Growth	-79.11%	206.09%	22.96%	5.95%	-39.33%	-26.55%	68.89%	-10.58%	10.81%	-0.24%	16.99%
Invested Capital Q/Q Growth	42.55%	1.36%	-4.35%	-2.83%	2.27%	-3.20%	-3.79%	-0.95%	-2.47%	-4.00%	-33.40%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	69.39%	67.93%	68.65%	65.45%	67.26%	65.29%	71.04%	69.57%	70.78%	73.29%	75.44%
EBITDA Margin	19.32%	19.24%	22.28%	15.84%	17.96%	-6.37%	20.66%	20.43%	20.94%	20.47%	9.22%
Operating Margin	14.74%	14.55%	17.54%	11.43%	13.60%	-11.10%	16.85%	17.59%	17.60%	17.09%	5.92%
EBIT Margin	14.74%	14.55%	17.54%	11.41%	13.51%	-11.37%	16.86%	17.34%	17.58%	17.04%	6.01%
Profit (Net Income) Margin	9.60%	10.25%	13.17%	6.76%	10.68%	-13.14%	14.52%	12.81%	14.05%	12.23%	2.61%
Tax Burden Percent	65.79%	73.49%	77.87%	66.61%	83.97%	104.47%	92.97%	81.79%	81.88%	80.64%	84.78%
Interest Burden Percent	98.96%	95.88%	96.39%	88.97%	94.12%	110.65%	92.63%	90.31%	97.64%	89.01%	51.26%
Effective Tax Rate	34.21%	26.51%	22.13%	33.39%	16.03%	0.00%	7.03%	18.21%	18.12%	19.36%	15.22%
Return on Invested Capital (ROIC)	30.61%	30.69%	39.51%	17.84%	18.41%	-10.97%	30.08%	32.84%	30.87%	29.99%	14.25%
ROIC Less NNEP Spread (ROIC-NNEP)	30.99%	32.63%	41.22%	25.99%	5.92%	-53.89%	0.74%	-34.67%	27.97%	8.37%	-14.24%
Return on Net Nonoperating Assets (RNNOA)	-14.22%	-12.89%	-18.72%	-5.11%	0.63%	-11.56%	0.06%	-1.95%	10.15%	1.55%	-4.49%
Return on Equity (ROE)	16.39%	17.80%	20.79%	12.73%	19.04%	-22.53%	30.14%	30.89%	41.02%	31.54%	9.76%
Cash Return on Invested Capital (CROIC)	12.51%	15.83%	56.16%	-68.75%	10.73%	9.87%	40.62%	26.40%	25.26%	38.58%	51.88%
Operating Return on Assets (OROA)	14.84%	13.67%	14.68%	10.72%	12.01%	-7.62%	11.88%	14.82%	16.28%	11.08%	4.22%
Return on Assets (ROA)	9.66%	9.63%	11.02%	6.36%	9.49%	-8.81%	10.23%	10.94%	13.02%	7.96%	1.83%
Return on Common Equity (ROCE)	16.39%	17.80%	20.79%	12.73%	19.04%	-22.53%	30.14%	30.89%	41.02%	31.54%	9.76%
Return on Equity Simple (ROE_SIMPLE)	16.16%	17.16%	19.69%	12.25%	18.31%	-28.65%	25.59%	37.47%	41.09%	28.17%	0.00%
Net Operating Profit after Tax (NOPAT)	407	480	613	448	688	-386	900	962	960	919	352
NOPAT Margin	9.70%	10.69%	13.66%	7.61%	11.42%	-7.77%	15.66%	14.39%	14.41%	13.78%	5.02%
Net Nonoperating Expense Percent (NNEP)	-0.37%	-1.94%	-1.71%	-8.15%	12.49%	42.92%	29.34%	67.50%	2.90%	21.63%	28.49%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	10.82%
Cost of Revenue to Revenue	30.61%	32.07%	31.35%	34.55%	32.74%	34.71%	28.96%	30.43%	29.22%	26.71%	24.56%
SG&A Expenses to Revenue	54.65%	53.38%	51.10%	54.02%	53.66%	66.76%	54.19%	51.98%	53.18%	56.20%	57.33%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	54.65%	53.38%	51.10%	54.02%	53.66%	76.39%	54.19%	51.98%	53.18%	56.20%	69.52%
Earnings before Interest and Taxes (EBIT)	618	654	787	671	814	-564	969	1,159	1,171	1,137	422
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	810	864	1,000	931	1,082	-316	1,187	1,365	1,395	1,366	647
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.04	3.33	3.61	3.48	2.28	1.39	3.32	3.17	4.20	3.39	21.09
Price to Tangible Book Value (P/TBV)	4.46	4.87	4.98	412.37	28.13	0.00	18.40	0.00	0.00	28.99	0.00
Price to Revenue (P/Rev)	1.80	1.99	2.42	1.92	1.33	0.64	1.88	1.08	1.44	1.47	2.58
Price to Earnings (P/E)	18.79	19.38	18.36	28.42	12.47	0.00	12.98	8.47	10.21	12.05	98.75
Dividend Yield	4.93%	4.21%	3.50%	3.44%	4.88%	11.82%	0.00%	3.47%	2.91%	3.27%	1.61%
Earnings Yield	5.32%	5.16%	5.45%	3.52%	8.02%	0.00%	7.70%	11.81%	9.79%	8.30%	1.01%
Enterprise Value to Invested Capital (EV/IC)	4.50	4.71	6.52	3.24	2.16	1.28	3.67	2.64	3.28	3.36	9.66
Enterprise Value to Revenue (EV/Rev)	1.56	1.76	2.07	1.98	1.39	0.81	1.81	1.19	1.57	1.48	2.76
Enterprise Value to EBITDA (EV/EBITDA)	8.05	9.17	9.27	12.51	7.76	0.00	8.76	5.85	7.51	7.23	29.96
Enterprise Value to EBIT (EV/EBIT)	10.55	12.13	11.77	17.37	10.31	0.00	10.74	6.89	8.95	8.68	45.94
Enterprise Value to NOPAT (EV/NOPAT)	16.04	16.50	15.12	26.03	12.20	0.00	11.56	8.31	10.92	10.73	55.05
Enterprise Value to Operating Cash Flow (EV/OCF)	6.96	10.45	10.86	11.68	10.59	9.89	7.86	9.36	10.74	7.86	15.92
Enterprise Value to Free Cash Flow (EV/FCFF)	39.26	31.99	10.64	0.00	20.92	11.60	8.56	10.33	13.34	8.34	15.12
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.36	0.33	0.53	0.49	0.46	1.01	0.49	0.74	0.73	2.50	2.79
Long-Term Debt to Equity	0.35	0.32	0.53	0.49	0.46	0.70	0.49	0.73	0.72	2.39	2.77
Financial Leverage	-0.46	-0.40	-0.45	-0.20	0.11	0.21	0.08	0.06	0.36	0.18	0.32
Leverage Ratio	1.70	1.85	1.89	2.00	2.01	2.56	2.95	2.82	3.15	3.96	5.32
Compound Leverage Factor	1.68	1.77	1.82	1.78	1.89	2.83	2.73	2.55	3.08	3.53	2.73
Debt to Total Capital	26.34%	24.62%	34.48%	33.03%	31.33%	50.25%	32.80%	42.52%	42.17%	71.42%	73.63%
Short-Term Debt to Total Capital	0.33%	0.42%	0.00%	0.01%	0.02%	15.55%	0.00%	0.78%	0.63%	2.99%	0.51%
Long-Term Debt to Total Capital	26.01%	24.20%	34.48%	33.02%	31.31%	34.70%	32.80%	41.73%	41.53%	68.43%	73.11%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	73.66%	75.38%	65.52%	66.97%	68.67%	49.75%	67.20%	57.48%	57.83%	28.58%	26.37%
Debt to EBITDA	1.10	1.01	1.58	1.72	1.48	-7.28	1.34	1.24	1.19	5.30	3.70
Net Debt to EBITDA	-1.29	-1.16	-1.58	0.38	0.34	-2.76	-0.36	0.54	0.66	0.03	1.97
Long-Term Debt to EBITDA	1.09	1.00	1.58	1.72	1.48	-5.03	1.34	1.22	1.17	5.08	3.68
Debt to NOPAT	2.19	1.82	2.58	3.58	2.33	-5.96	1.77	1.76	1.73	7.88	6.81
Net Debt to NOPAT	-2.56	-2.09	-2.58	0.78	0.54	-2.26	-0.47	0.77	0.96	0.04	3.62
Long-Term Debt to NOPAT	2.16	1.79	2.58	3.57	2.33	-4.12	1.77	1.73	1.70	7.55	6.76
Altman Z-Score	3.79	4.08	4.20	3.48	3.04	0.67	2.59	2.28	2.61	1.90	2.88
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.00	2.63	5.24	2.59	2.79	1.47	2.37	1.75	1.84	5.14	1.87
Quick Ratio	2.09	1.89	4.45	1.67	1.67	0.93	1.55	0.82	0.74	4.34	0.87
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	166	248	872	-1,725	401	347	1,215	773	786	1,183	1,281
Operating Cash Flow to CapEx	470.35%	191.37%	543.48%	373.04%	288.99%	198.15%	1,437.24%	908.63%	529.42%	1,152.98%	991.52%
Free Cash Flow to Firm to Interest Expense	25.95	9.21	30.69	-23.31	8.38	5.78	17.02	6.88	28.46	9.46	6.23
Operating Cash Flow to Interest Expense	146.47	28.20	30.06	13.48	16.54	6.77	18.54	7.59	35.33	10.04	5.92
Operating Cash Flow Less CapEx to Interest Expense	115.33	13.46	24.53	9.87	10.82	3.35	17.25	6.76	28.66	9.17	5.32
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.01	0.94	0.84	0.94	0.89	0.67	0.70	0.85	0.93	0.65	0.70
Accounts Receivable Turnover	20.05	19.33	17.49	20.20	19.69	20.19	29.21	29.54	28.72	30.34	29.99
Inventory Turnover	2.54	3.05	3.03	3.55	2.72	2.27	2.26	2.35	2.03	2.04	2.04
Fixed Asset Turnover	5.80	5.44	5.57	7.46	6.61	0.00	0.00	0.00	12.01	12.36	13.96
Accounts Payable Turnover	6.81	7.04	7.38	8.85	7.77	9.20	5.78	4.21	4.15	4.10	3.79
Days Sales Outstanding (DSO)	18.20	18.88	20.87	18.07	18.54	18.08	12.50	12.35	12.71	12.03	12.17
Days Inventory Outstanding (DIO)	143.85	119.64	120.47	102.73	134.29	160.57	161.37	155.13	179.47	178.67	178.65
Days Payable Outstanding (DPO)	53.58	51.88	49.45	41.23	46.97	39.68	63.16	86.66	87.93	89.02	96.27
Cash Conversion Cycle (CCC)	108.47	86.64	91.89	79.57	105.86	138.97	110.71	80.82	104.25	101.68	94.55
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,449	1,681	1,423	3,595	3,882	3,150	2,834	3,023	3,197	2,934	2,005
Invested Capital Turnover	3.16	2.87	2.89	2.34	1.61	1.41	1.92	2.28	2.14	2.18	2.84
Increase / (Decrease) in Invested Capital	241	233	-258	2,173	287	-733	-315	189	174	-263	-929
Enterprise Value (EV)	6,521	7,924	9,270	11,649	8,395	4,027	10,403	7,987	10,478	9,869	19,367
Market Capitalization	7,563	8,926	10,849	11,299	8,026	3,154	10,828	7,250	9,559	9,832	18,092
Book Value per Share	$9.01	$9.65	$10.68	$11.27	$12.11	$8.24	$11.69	$9.08	$9.83	$12.61	$4.13
Tangible Book Value per Share	$6.14	$6.60	$7.76	$0.10	$0.98	($1.46)	$2.11	($1.28)	($1.34)	$1.48	($4.07)
Total Capital	3,380	3,559	4,581	4,845	5,116	4,576	4,850	3,976	3,939	10,138	3,252
Total Debt	890	876	1,580	1,601	1,603	2,299	1,591	1,690	1,661	7,241	2,395
Total Long-Term Debt	879	861	1,580	1,600	1,602	1,588	1,591	1,659	1,636	6,937	2,378
Net Debt	-1,041	-1,002	-1,579	351	369	873	-425	737	919	37	1,275
Capital Expenditures (CapEx)	199	396	157	267	274	205	92	94	184	109	123
Debt-free, Cash-free Net Working Capital (DFCFNWC)	157	42	116	245	406	96	-66	183	361	192	246
Debt-free Net Working Capital (DFNWC)	1,683	1,361	3,200	1,495	1,640	1,523	1,950	1,136	1,102	7,396	1,365
Net Working Capital (NWC)	1,672	1,346	3,200	1,494	1,639	811	1,950	1,105	1,077	7,092	1,349
Net Nonoperating Expense (NNE)	4.21	20	22	50	45	267	66	105	24	103	169
Net Nonoperating Obligations (NNO)	-1,041	-1,002	-1,579	351	369	873	-425	737	919	37	1,147
Total Depreciation and Amortization (D&A)	192	211	213	260	268	248	219	206	224	229	225
Debt-free, Cash-free Net Working Capital to Revenue	3.75%	0.93%	2.58%	4.17%	6.73%	1.94%	-1.15%	2.74%	5.41%	2.87%	3.51%
Debt-free Net Working Capital to Revenue	40.15%	30.30%	71.29%	25.43%	27.20%	30.69%	33.93%	17.00%	16.54%	110.86%	19.48%
Net Working Capital to Revenue	39.88%	29.97%	71.29%	25.42%	27.19%	16.35%	33.93%	16.53%	16.17%	106.31%	19.24%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.46	$1.66	$2.11	$1.39	$2.22	($2.34)	$3.00	$3.24	$3.96	$3.56	$0.84
Adjusted Weighted Average Basic Shares Outstanding	275.70M	277.60M	280.60M	285.40M	289.40M	278.60M	277.90M	264.30M	236.40M	229.20M	216.80M
Adjusted Diluted Earnings per Share	$1.45	$1.65	$2.09	$1.38	$2.21	($2.34)	$2.95	$3.17	$3.88	$3.50	$0.82
Adjusted Weighted Average Diluted Shares Outstanding	277.20M	279.30M	282.80M	288.60M	290.80M	278.60M	283M	270.10M	241.30M	233.20M	222.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$2.22	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	276.63M	278.94M	282.58M	288.04M	286.85M	276.24M	279.58M	241.22M	227.44M	230.22M	208.12M
Normalized Net Operating Profit after Tax (NOPAT)	407	480	613	448	688	-51	900	962	960	919	1,076
Normalized NOPAT Margin	9.70%	10.69%	13.66%	7.61%	11.42%	-1.03%	15.66%	14.39%	14.41%	13.78%	15.35%
Pre Tax Income Margin	14.59%	13.95%	16.91%	10.15%	12.71%	-12.58%	15.62%	15.66%	17.16%	15.17%	3.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	96.56	24.29	27.73	9.06	17.00	-9.39	13.57	10.31	42.42	9.10	2.05
NOPAT to Interest Expense	63.53	17.85	21.59	6.05	14.37	-6.42	12.60	8.56	34.78	7.36	1.71
EBIT Less CapEx to Interest Expense	65.42	9.56	22.19	5.45	11.27	-12.80	12.28	9.48	35.74	8.22	1.45
NOPAT Less CapEx to Interest Expense	32.39	3.12	16.06	2.44	8.65	-9.83	11.31	7.72	28.11	6.48	1.11
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	92.40%	81.32%	63.96%	96.63%	60.72%	-58.32%	0.00%	30.88%	30.27%	39.39%	163.37%
Augmented Payout Ratio	92.40%	81.32%	63.96%	96.63%	76.27%	-104.32%	0.00%	217.73%	105.43%	39.39%	1,101.53%

This table displays calculated financial ratios and metrics derived from Tapestry's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	7/1/2023	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.33%	0.44%	2.92%	-1.80%	-1.75%	-0.38%	5.32%	6.89%	8.30%	13.07%	13.98%
EBITDA Growth	12.90%	7.69%	8.01%	-10.95%	-13.92%	0.58%	7.53%	20.21%	-276.45%	23.06%	40.74%
EBIT Growth	13.56%	3.37%	6.47%	-12.12%	-15.27%	1.83%	8.31%	26.30%	-350.41%	29.29%	45.85%
NOPAT Growth	11.93%	-1.54%	8.14%	-11.24%	-18.88%	0.64%	23.78%	28.39%	-319.09%	35.83%	30.21%
Net Income Growth	18.70%	-0.15%	-2.30%	-25.33%	-28.92%	-4.31%	-3.69%	45.84%	-424.61%	47.27%	80.83%
EPS Growth	25.00%	6.33%	2.21%	-23.08%	-29.47%	-5.95%	-0.72%	58.33%	-443.28%	62.03%	94.20%
Operating Cash Flow Growth	69.09%	144.19%	30.61%	-12.99%	-36.06%	58.70%	-38.78%	47.55%	74.53%	-5.77%	113.66%
Free Cash Flow Firm Growth	229.34%	289.34%	830.59%	1,152.15%	711.80%	329.01%	-34.77%	-32.97%	15.74%	50.32%	370.81%
Invested Capital Growth	5.77%	1.63%	-6.45%	-6.78%	-8.24%	-12.92%	2.64%	-1.51%	-31.67%	-23.31%	-37.97%
Revenue Q/Q Growth	7.29%	-6.56%	37.75%	-28.88%	7.33%	-5.25%	45.63%	-27.82%	8.75%	-1.08%	46.80%
EBITDA Q/Q Growth	19.73%	-4.68%	63.88%	-51.09%	15.74%	11.38%	75.20%	-43.62%	-268.36%	174.00%	100.37%
EBIT Q/Q Growth	19.06%	-7.77%	79.63%	-55.45%	14.79%	10.85%	91.07%	-48.05%	-327.58%	157.23%	115.54%
NOPAT Q/Q Growth	21.41%	-9.92%	72.87%	-53.05%	10.96%	11.75%	112.63%	-51.31%	-289.35%	169.28%	103.84%
Net Income Q/Q Growth	20.03%	-12.99%	65.28%	-56.75%	14.28%	17.14%	66.35%	-34.50%	-354.35%	153.14%	104.26%
EPS Q/Q Growth	21.79%	-11.58%	65.48%	-56.83%	11.67%	17.91%	74.68%	-31.16%	-342.11%	155.65%	109.38%
Operating Cash Flow Q/Q Growth	256.23%	-81.19%	997.61%	-88.17%	161.76%	-53.32%	323.43%	-71.48%	209.63%	-74.80%	860.12%
Free Cash Flow Firm Q/Q Growth	249.33%	174.16%	268.93%	-30.34%	15.22%	44.89%	-43.91%	-28.41%	98.94%	88.17%	75.69%
Invested Capital Q/Q Growth	-2.47%	7.34%	-14.42%	4.05%	-4.00%	1.86%	0.87%	-0.15%	-33.40%	14.32%	-18.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	72.41%	72.54%	71.63%	74.70%	74.87%	75.28%	74.39%	76.09%	76.32%	76.29%	75.46%
EBITDA Margin	20.05%	20.45%	24.33%	16.29%	17.57%	20.65%	24.84%	19.41%	-30.04%	22.47%	30.67%
Operating Margin	16.89%	16.73%	21.47%	13.78%	14.77%	16.72%	22.45%	16.01%	-33.86%	19.25%	28.63%
EBIT Margin	16.86%	16.64%	21.70%	13.59%	14.54%	17.01%	22.31%	16.06%	-33.61%	19.45%	28.55%
Profit (Net Income) Margin	13.84%	12.89%	15.46%	9.40%	10.01%	12.38%	14.14%	12.83%	-30.01%	16.12%	22.43%
Tax Burden Percent	84.00%	81.76%	79.96%	82.24%	79.33%	82.68%	89.89%	85.03%	87.05%	86.23%	80.52%
Interest Burden Percent	97.73%	94.72%	89.12%	84.12%	86.81%	88.03%	70.48%	93.95%	102.56%	96.14%	97.56%
Effective Tax Rate	16.00%	18.24%	20.04%	17.76%	20.67%	17.32%	10.11%	14.97%	0.00%	13.77%	19.48%
Return on Invested Capital (ROIC)	30.39%	26.80%	38.01%	23.98%	25.50%	28.70%	45.95%	30.88%	-67.30%	45.33%	70.93%
ROIC Less NNEP Spread (ROIC-NNEP)	29.70%	25.67%	31.56%	19.56%	19.82%	24.44%	32.39%	29.49%	-85.66%	44.46%	69.90%
Return on Net Nonoperating Assets (RNNOA)	10.78%	11.75%	7.00%	5.03%	3.66%	4.63%	15.84%	12.41%	-27.00%	24.97%	110.95%
Return on Equity (ROE)	41.18%	38.54%	45.02%	29.01%	29.16%	33.33%	61.80%	43.29%	-94.30%	70.29%	181.89%
Cash Return on Invested Capital (CROIC)	25.26%	26.49%	39.08%	37.44%	38.58%	42.49%	31.04%	36.10%	51.88%	42.73%	69.99%
Operating Return on Assets (OROA)	15.61%	15.60%	13.85%	8.79%	9.46%	10.86%	14.36%	10.50%	-23.59%	13.95%	31.14%
Return on Assets (ROA)	12.82%	12.08%	9.87%	6.08%	6.51%	7.91%	9.10%	8.39%	-21.06%	11.57%	24.46%
Return on Common Equity (ROCE)	41.18%	38.54%	45.02%	29.01%	29.16%	33.33%	61.80%	43.29%	-94.30%	70.29%	181.89%
Return on Equity Simple (ROE_SIMPLE)	0.00%	38.73%	34.89%	31.74%	0.00%	27.08%	59.54%	57.54%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	230	207	358	168	186	208	443	216	-408	283	577
NOPAT Margin	14.19%	13.68%	17.17%	11.33%	11.72%	13.82%	20.18%	13.61%	-23.70%	16.60%	23.05%
Net Nonoperating Expense Percent (NNEP)	0.69%	1.12%	6.45%	4.42%	5.68%	4.25%	13.57%	1.38%	18.36%	0.86%	1.04%
Return On Investment Capital (ROIC_SIMPLE)	-	-	3.44%	-	-	-	11.03%	5.15%	-12.56%	9.32%	19.57%
Cost of Revenue to Revenue	27.59%	27.46%	28.37%	25.30%	25.13%	24.72%	25.61%	23.91%	23.68%	23.71%	24.54%
SG&A Expenses to Revenue	55.52%	55.81%	50.16%	60.92%	60.10%	58.57%	51.94%	60.08%	60.57%	57.04%	46.84%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	55.52%	55.81%	50.16%	60.92%	60.10%	58.57%	51.94%	60.08%	110.18%	57.04%	46.84%
Earnings before Interest and Taxes (EBIT)	273	252	452	202	231	256	490	255	-579	332	715
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	325	310	507	242	280	311	545	308	-518	383	768
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.20	2.61	3.08	3.89	3.39	3.70	11.49	9.74	21.09	56.81	48.75
Price to Tangible Book Value (P/TBV)	0.00	0.00	117.51	53.11	28.99	27.74	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.44	0.95	1.22	1.61	1.47	1.66	2.27	2.11	2.58	3.15	3.58
Price to Earnings (P/E)	10.21	6.75	8.83	12.26	12.05	13.67	19.29	16.92	98.75	83.63	51.45
Dividend Yield	2.91%	4.50%	3.64%	2.87%	3.27%	2.92%	2.13%	1.99%	1.61%	1.33%	1.14%
Earnings Yield	9.79%	14.82%	11.33%	8.15%	8.30%	7.32%	5.18%	5.91%	1.01%	1.20%	1.94%
Enterprise Value to Invested Capital (EV/IC)	3.28	2.14	2.88	3.63	3.36	3.70	5.65	5.38	9.66	10.73	15.08
Enterprise Value to Revenue (EV/Rev)	1.57	1.10	1.26	1.65	1.48	1.66	2.51	2.35	2.76	3.41	3.75
Enterprise Value to EBITDA (EV/EBITDA)	7.51	5.38	6.11	8.17	7.23	8.07	12.11	11.10	29.96	34.23	29.97
Enterprise Value to EBIT (EV/EBIT)	8.95	6.22	7.02	9.40	8.68	9.67	14.44	13.13	45.94	49.50	39.08
Enterprise Value to NOPAT (EV/NOPAT)	10.92	7.66	8.60	11.51	10.73	12.00	17.01	15.43	55.05	57.01	49.90
Enterprise Value to Operating Cash Flow (EV/OCF)	10.74	6.00	5.99	7.92	7.86	8.50	17.39	15.78	15.92	20.33	15.79
Enterprise Value to Free Cash Flow (EV/FCFF)	13.34	8.13	7.13	9.35	8.34	8.10	18.44	14.78	15.12	21.80	16.49
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.73	0.69	2.91	2.77	2.50	2.45	2.01	1.81	2.79	6.60	4.35
Long-Term Debt to Equity	0.72	0.67	2.90	2.77	2.39	2.35	1.78	1.59	2.77	5.95	4.32
Financial Leverage	0.36	0.46	0.22	0.26	0.18	0.19	0.49	0.42	0.32	0.56	1.59
Leverage Ratio	3.15	3.04	4.24	4.11	3.96	3.87	5.27	4.93	5.32	5.94	7.30
Compound Leverage Factor	3.08	2.88	3.78	3.46	3.44	3.40	3.72	4.63	5.46	5.71	7.12
Debt to Total Capital	42.17%	40.65%	74.42%	73.50%	71.42%	71.03%	66.73%	64.36%	73.63%	86.84%	81.30%
Short-Term Debt to Total Capital	0.63%	0.61%	0.24%	0.24%	2.99%	2.95%	7.55%	7.63%	0.51%	8.46%	0.58%
Long-Term Debt to Total Capital	41.53%	40.04%	74.18%	73.27%	68.43%	68.08%	59.18%	56.72%	73.11%	78.37%	80.72%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	57.83%	59.35%	25.58%	26.50%	28.58%	28.97%	33.27%	35.64%	26.37%	13.16%	18.70%
Debt to EBITDA	1.19	1.22	5.58	5.68	5.30	5.35	1.91	1.85	3.70	3.67	2.55
Net Debt to EBITDA	0.66	0.75	0.20	0.21	0.03	0.00	1.19	1.13	1.97	2.63	1.40
Long-Term Debt to EBITDA	1.17	1.20	5.57	5.66	5.08	5.12	1.69	1.63	3.68	3.31	2.53
Debt to NOPAT	1.73	1.73	7.86	7.99	7.88	7.94	2.68	2.57	6.81	6.11	4.24
Net Debt to NOPAT	0.96	1.06	0.28	0.29	0.04	0.01	1.68	1.56	3.62	4.39	2.33
Long-Term Debt to NOPAT	1.70	1.70	7.83	7.97	7.55	7.61	2.38	2.27	6.76	5.52	4.21
Altman Z-Score	2.19	1.84	1.61	1.71	1.68	1.74	2.50	2.39	2.37	3.02	3.70
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.84	2.02	6.25	6.59	5.14	4.93	1.58	1.76	1.87	1.52	1.63
Quick Ratio	0.74	0.76	5.32	5.63	4.34	4.09	0.74	0.81	0.87	0.60	0.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	55	152	560	390	450	652	366	262	521	980	1,721
Operating Cash Flow to CapEx	1,157.23%	360.29%	3,625.00%	514.74%	554.11%	466.80%	1,637.54%	466.99%	1,265.72%	347.53%	2,479.59%
Free Cash Flow to Firm to Interest Expense	8.94	11.42	11.39	12.20	14.75	21.23	2.53	16.99	35.18	76.54	98.92
Operating Cash Flow to Interest Expense	64.58	5.66	16.80	3.06	8.39	3.89	3.50	9.37	30.19	8.80	62.13
Operating Cash Flow Less CapEx to Interest Expense	59.00	4.09	16.34	2.46	6.88	3.06	3.29	7.36	27.80	6.27	59.63
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.93	0.94	0.64	0.65	0.65	0.64	0.64	0.65	0.70	0.72	1.09
Accounts Receivable Turnover	28.72	24.95	26.99	25.89	30.34	24.51	24.96	25.84	29.99	25.36	23.65
Inventory Turnover	2.03	1.83	2.07	2.08	2.04	1.76	1.94	2.02	2.04	1.71	1.97
Fixed Asset Turnover	12.01	12.51	12.12	12.22	12.36	12.66	13.06	13.71	13.96	14.41	15.18
Accounts Payable Turnover	4.15	4.26	4.15	5.19	4.10	3.74	3.50	4.47	3.79	3.37	3.35
Days Sales Outstanding (DSO)	12.71	14.63	13.52	14.10	12.03	14.89	14.62	14.13	12.17	14.39	15.43
Days Inventory Outstanding (DIO)	179.47	199.00	176.23	175.47	178.67	207.11	188.09	180.80	178.65	213.32	185.40
Days Payable Outstanding (DPO)	87.93	85.76	88.04	70.27	89.02	97.66	104.25	81.62	96.27	108.20	109.03
Cash Conversion Cycle (CCC)	104.25	127.87	101.71	119.30	101.68	124.34	98.47	113.30	94.55	119.51	91.80
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,197	3,432	2,937	3,056	2,934	2,988	3,014	3,010	2,005	2,292	1,870
Invested Capital Turnover	2.14	1.96	2.21	2.12	2.18	2.08	2.28	2.27	2.84	2.73	3.08
Increase / (Decrease) in Invested Capital	174	55	-203	-222	-263	-443	77	-46	-929	-697	-1,144
Enterprise Value (EV)	10,478	7,331	8,468	11,083	9,869	11,043	17,028	16,183	19,367	24,588	28,189
Market Capitalization	9,559	6,315	8,191	10,803	9,832	11,037	15,350	14,543	18,092	22,696	26,871
Book Value per Share	$9.83	$10.62	$11.61	$12.10	$12.61	$12.95	$5.74	$7.22	$4.13	$1.92	$2.69
Tangible Book Value per Share	($1.34)	($0.71)	$0.30	$0.89	$1.48	$1.73	($5.23)	($5.09)	($4.07)	($6.22)	($5.54)
Total Capital	3,939	4,071	10,399	10,474	10,138	10,294	4,017	4,191	3,252	3,035	2,948
Total Debt	1,661	1,655	7,739	7,699	7,241	7,312	2,681	2,697	2,395	2,635	2,396
Total Long-Term Debt	1,636	1,630	7,714	7,674	6,937	7,008	2,377	2,377	2,378	2,379	2,379
Net Debt	919	1,016	277	281	37	6.50	1,678	1,640	1,275	1,892	1,319
Capital Expenditures (CapEx)	35	21	23	19	46	26	31	31	35	32	44
Debt-free, Cash-free Net Working Capital (DFCFNWC)	361	601	158	238	192	290	321	496	246	416	14
Debt-free Net Working Capital (DFNWC)	1,102	1,240	7,620	7,656	7,396	7,595	1,324	1,553	1,365	1,159	1,091
Net Working Capital (NWC)	1,077	1,215	7,595	7,631	7,092	7,292	1,021	1,234	1,349	902	1,074
Net Nonoperating Expense (NNE)	5.71	12	36	29	27	22	133	12	109	8.19	16
Net Nonoperating Obligations (NNO)	919	1,016	277	281	37	6.50	1,678	1,516	1,147	1,892	1,319
Total Depreciation and Amortization (D&A)	52	58	55	40	48	55	56	53	62	52	53
Debt-free, Cash-free Net Working Capital to Revenue	5.41%	9.01%	2.34%	3.55%	2.87%	4.35%	4.74%	7.22%	3.51%	5.76%	0.18%
Debt-free Net Working Capital to Revenue	16.54%	18.59%	113.28%	114.28%	110.86%	113.95%	19.54%	22.58%	19.48%	16.08%	14.52%
Net Working Capital to Revenue	16.17%	18.22%	112.91%	113.90%	106.31%	109.39%	15.07%	17.93%	19.24%	12.51%	14.29%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.97	$0.85	$1.41	$0.61	$0.69	$0.81	$1.41	$0.98	($2.36)	$1.32	$2.75
Adjusted Weighted Average Basic Shares Outstanding	236.40M	228.30M	229.30M	229.50M	229.20M	231.50M	219.90M	207.30M	216.80M	207.60M	204.10M
Adjusted Diluted Earnings per Share	$0.95	$0.84	$1.39	$0.60	$0.67	$0.79	$1.38	$0.95	($2.30)	$1.28	$2.68
Adjusted Weighted Average Diluted Shares Outstanding	241.30M	232.50M	231.70M	234.20M	233.20M	235.90M	224.90M	213.90M	222.50M	215.50M	209.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	227.44M	229.19M	229.37M	229.77M	230.22M	233.04M	207.02M	207.69M	208.12M	204.65M	202.46M
Normalized Net Operating Profit after Tax (NOPAT)	230	207	358	168	186	208	443	216	-408	283	577
Normalized NOPAT Margin	14.19%	13.68%	17.17%	11.33%	11.72%	13.82%	20.18%	13.61%	-23.70%	16.60%	23.05%
Pre Tax Income Margin	16.47%	15.76%	19.34%	11.43%	12.62%	14.97%	15.73%	15.09%	-34.47%	18.70%	27.86%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	44.03	18.93	9.19	6.30	7.58	8.35	3.39	16.53	-39.14	25.90	41.06
NOPAT to Interest Expense	37.07	15.57	7.27	5.25	6.11	6.79	3.06	14.01	-27.60	22.11	33.15
EBIT Less CapEx to Interest Expense	38.45	17.36	8.73	5.70	6.07	7.52	3.17	14.52	-41.52	23.37	38.56
NOPAT Less CapEx to Interest Expense	31.49	13.99	6.81	4.66	4.60	5.95	2.85	12.00	-29.98	19.58	30.65
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	30.27%	31.08%	32.27%	35.20%	39.39%	39.95%	39.56%	35.71%	163.37%	110.98%	59.37%
Augmented Payout Ratio	105.43%	31.08%	75.75%	58.07%	39.39%	39.95%	242.28%	229.44%	1,101.53%	1,001.51%	290.54%

Financials Breakdown Chart

Key Financial Trends

MarketBeat summary: Tapestry (NYSE: TPR) has shown a mix of revenue growth, improving profitability, and robust cash flow in recent quarters, alongside a leveraged balance sheet and some volatility. Below are the 10 most important trends, sorted with positives first, then neutral, then negatives.

Significant Q2 2026 revenue and net income uptick: Operating Revenue reached about $2.50B and Net Income was ~$0.56B, with a solid gross margin around 75% (Gross Profit ≈ $1.89B on $2.50B revenue) and a strong net margin for the quarter.
Strong gross margin in Q2 2026: Gross Margin remains high (about 75%), signaling pricing power or favorable product mix that supports profitability.
Healthy operating cash flow in Q2 2026: Net cash from continuing operating activities ≈ $1.08B, indicating strong cash generation from core activities.
Very solid free cash flow in Q2 2026: With capex around $43.6M, free cash flow for the quarter was roughly $1.0B, reflecting excellent cash conversion.
Liquidity improvement on the balance sheet: Cash and equivalents around $1.05B at Q2 2026, with total assets ≈ $6.53B and a generally solid liquidity position to cover near-term obligations.
Shareholder-friendly actions in 2026: Notable repurchases of common equity (about $403.5M in Q2 2026) alongside ongoing dividends (≈ $81.3M in the quarter) and a modest equity issuance, which can support per-share metrics.
Year-over-year growth trend in revenue: Q2 2026 revenue of about $2.50B vs Q2 2025 around $2.20B, indicating year-over-year growth, with ongoing momentum into 2026.
Improving quarterly profitability trajectory: Net income rose from $274.8M in Q1 2026 to $561.3M in Q2 2026; Basic EPS increased to $2.75 and Diluted EPS to $2.68 in Q2 2026.
Balance-sheet leverage and accumulated deficits: Retained Earnings sit negative (e.g., around -$3.29B in Q2 2026) with Total Equity around $0.55B, indicating a leveraged balance sheet and ongoing deficits despite positive quarterly results.
Volatility and a notable quarterly loss: Q4 2025 posted a net loss of about $517.1M and a swing in profitability, underscoring quarterly volatility; some quarters also show negative cash flow from financing, highlighting sensitivity to financing activity and market conditions.

05/05/26 02:12 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Tapestry's Financials

When does Tapestry's fiscal year end?

According to the most recent income statement we have on file, Tapestry's financial year ends in June. Their financial year 2025 ended on June 28, 2025.

How has Tapestry's net income changed over the last 10 years?

Tapestry's net income appears to be on an upward trend, with a most recent value of $183.20 million in 2025, falling from $402.40 million in 2015. The previous period was $816 million in 2024. View Tapestry's forecast to see where analysts expect Tapestry to go next.

What is Tapestry's operating income?

Tapestry's total operating income in 2025 was $415 million, based on the following breakdown:

Total Gross Profit: $5.29 billion
Total Operating Expenses: $4.87 billion

How has Tapestry's revenue changed over the last 10 years?

Over the last 10 years, Tapestry's total revenue changed from $4.19 billion in 2015 to $7.01 billion in 2025, a change of 67.3%.

How much debt does Tapestry have?

Tapestry's total liabilities were at $5.72 billion at the end of 2025, a 45.5% decrease from 2024, and a 162.9% increase since 2015.

How much cash does Tapestry have?

In the past 10 years, Tapestry's cash and equivalents has ranged from $726.10 million in 2023 to $6.14 billion in 2024, and is currently $1.10 billion as of their latest financial filing in 2025.

How has Tapestry's book value per share changed over the last 10 years?

Over the last 10 years, Tapestry's book value per share changed from 9.01 in 2015 to 4.13 in 2025, a change of -54.2%.

Related Companies

Financial statements for NYSE:TPR last updated on 2/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Tapestry (TPR) Financials

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