Tapestry, Inc. (TPR) financials

NYSE · Consumer Cyclical · Luxury Goods · 19,000 employees · CEO Joanne C. Crevoiserat

Price: $134.17 +7.07%
Market cap: $26.6B
Enterprise value: $30.3B
Last report: Q1 '27 filed 2026-11-05
Next report: 2027-02-04 EPS est. $3.02

Revenue (TTM)$8.19B+13.7% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)24.5%+17.7 pp vs a year agoOperating income $2.01B

Net income (TTM)$1.61B+494.3% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$1.88B+74.2% vs a year agoCapex $182M

Diluted EPS (TTM)$7.75+592.0% vs a year agoSum of the last 4 quarters

Net cash-$3.45B+0.3% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $26.6B
Revenue: $8.19B
Revenue growth: +7%
Profit margin: 19.7%
P/E: 16.8×
P/S: 3.2×
EV / EBITDA: 13.7×
Free cash flow: $1.88B
Net income: $1.61B
Revenue estimate: $8.54B
Earnings: 2027-02-04
Dividend: $1.66

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-11-05): revenue beat by 2.5%, EPS beat by 16.7%Revenue $1.89B vs $1.85B expected (+2.5%); EPS $1.82 vs $1.56 (+16.7%).
Revenue growth slowing: 11.1% year on yearQ1 '27 revenue $1.89B, against an average of 14.3% over the four quarters before.
Operating margin 24.5% (TTM), +17.7 pp on a year agoOperating income grew 309.2% while revenue grew 13.7%.
Capex 2.2% of revenue (a year ago 1.8%)$182M invested in the last 4 quarters (+40.2% on a year earlier). Free cash flow $1.88B = 116.6% of net income.
Returned $1.79B to shareholders = 95.4% of free cash flowBuybacks $1.46B (a year earlier $2.72B), dividends $335M, stock-based pay $113M (TTM).
Diluted share count down 5.1% in a year205M diluted shares in Q1 '27, 216M a year earlier.
Net debt $3.45BCash + short-term investments $782M, debt incl. leases $4.23B; a year ago net debt $3.46B.
Coach: revenue +16.2%, margin 35.5% (was 34.1%)Fastest-growing reported segment in Q1 '27: operating income $590M on revenue $1.66B (from the segment note of the filing).

Last quarter: Q1 '27

Quarter ended 2026-09-26. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q1 '27	Year ago	Change
Revenue	$1.89B	$1.7B	+11.1%
Gross margin	78.6%	76.3%	+2.3 pp
Operating income	$424M	$328M	+29.2%
Operating margin	22.4%	19.3%	+3.1 pp
Net income	$360M	$275M	+31.0%
Diluted EPS	$1.76	$1.28	+37.5%
Operating cash flow	$197M	$113M	+75.0%
Capex	$48M	$32.4M	+48.1%
Free cash flow	$149M	$80.2M	+85.8%
R&D	$0	$0	–
Stock-based compensation	$31M	$22.4M	+38.4%

Reported vs consensus

2026-11-05

	Actual	Consensus	vs consensus
Revenue	$1.89B	$1.85B	+2.5%
EPS (as estimated)	$1.82	$1.56	+16.7%

From the report of 2026-11-05 for Q1 '27: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q1 '27	y/y	Share	TTM	TTM y/y
Coach Segment	$1.66B	+16.2%	87.7%	$7.15B	+22.0%
Kate Spade & Company	$233M	-10.5%	12.3%	$1.05B	-10.8%
Stuart Weitzman	–	–	–	–	–

Revenue by region

share of total

Segment	Q1 '27	y/y	Share	TTM	TTM y/y
North America	$1.11B	+2.9%	58.6%	$4.73B	+9.0%
Non-US	$182M	+16.5%	9.6%	$1.47B	+16.2%
Greater China	$385M	+42.0%	20.3%	$1.51B	+37.9%
Other Asia	$217M	+9.0%	11.5%	$711M	+3.8%

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q1 '27

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Coach	$1.66B	+16.2%	$590M	+21.1%	35.5%	34.1%	$2.64B
Kate Spade Company	$233M	-10.4%	-$20M	-433.3%	-8.6%	2.3%	-$36M
Stuart Weitzman	–	–	$0	+100.0%	–	-6.7%	$0

Operating income by segment

quarterly

Segment operating margin

quarterly

Fourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $2.06B
Capex: -$182M
Buybacks: -$1.46B
Dividends: -$335M
Acquisitions: -$110M
Net debt issued: -$56.5M
Stock-based compensation: $113M
Free cash flow: $1.88B
Returned to shareholders / FCF: 95.4%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	16.8×	30.8×	9.4× – 102.5×
EV / EBITDA	13.7×	16.5×	8.0× – 41.2×
EV / Sales	3.7×	2.5×	1.6× – 4.1×
Price / FCF	14.2×	13.1×	8.4× – 17.3×
Price / Book	77.7×	15.3×	3.3× – 43.0×
FCF yield	7.1%	8.2%	5.8% – 11.9%
Return on invested capital	31.3%	15.0%	6.6% – 29.4%
Return on equity	284.2%	69.8%	21.4% – 220.7%

Analysts

Consensus target $165.90 (+23.6%)
range $140.00 – $200.00 · rating Buy

Strong buy0

Buy30

Hold11

Sell0

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2027	$8.54B	+6.7%	$7.97	+9.7%	16.8×	12
FY2028	$8.99B	+5.2%	$8.91	+11.8%	15.1×	12
FY2029	$9.59B	+6.7%	$10.19	+14.3%	13.2×	4

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 308 figures Tapestry, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
	–	–	–	-$2.2M	–	–
	–	–	–	-0.1%	–	–
	–	–	–	$84.2M	–	–
	–	–	–	4.5%	–	–
	–	–	–	$84.6M	–	–
	–	–	–	$30.3M	–	–
Accounts Payable, Current	$679M	$496M	+37.0%	$582M	$456M	+27.7%
Accounts Receivable, after Allowance for Credit Loss, Current	$343M	$290M	+18.5%	$237M	$239M	-0.9%
Accounts Receivable, Allowance for Credit Loss, Current	$7M	$5.8M	+20.7%	$6.1M	$5.7M	+7.0%
Accounts Receivable, Credit Loss Expense (Reversal)	$2M	$1M	+100.0%	$6.1M	$3.6M	+69.4%
Accrued Income Taxes, Current	–	–	–	$56.8M2025-06-28	$49.7M	+14.3%
Accrued Liabilities, Current	$633M	$658M	-3.8%	$755M	$737M	+2.4%
Accrued Marketing Costs, Current	$47.9M2026-06-27	$84.1M	-43.0%	$47.9M	$84.1M	-43.0%
Accrued Rent, Current	–	–	–	$21.7M2025-06-28	$17.5M	+24.0%
Accrued Rent, Noncurrent	–	–	–	$29.6M2025-06-28	$32.2M	-8.1%
Accumulated Other Comprehensive Income (Loss), Net of Tax	-$231M	-$228M	-1.3%	-$219M	-$261M	+16.3%
Additional Paid in Capital	$4.12B	$3.99B	+3.2%	$4.12B	$3.67B	+12.1%
Advertising Expense	–	–	–	$963M	$745M	+29.3%
Amortization of Intangible Assets	$700K2026-06-27	$800K	-12.5%	$3.1M	$5.2M	-40.4%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	500K	600K	-16.7%	600K	700K	-14.3%
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$31M	$24M	+29.2%	$107M	$91.4M	+17.5%
Asset Impairment Charges	–	–	–	$0	$855M	-100.0%
Asset Retirement Obligations, Noncurrent	$65M2026-06-27	$58.4M	+11.3%	$65M	$58.4M	+11.3%
Assets	$6.62B	$6.36B	+4.0%	$6.69B	$6.58B	+1.7%
Assets, Current	$2.74B	$2.62B	+4.6%	$2.88B	$2.91B	-0.8%
Capital Expenditures Incurred but Not yet Paid	$29M	$31M	-6.5%	$35.2M	$25.7M	+37.0%
Capitalized Computer Software, Amortization	$13.4M2026-06-27	$18.4M	-27.2%	$56.4M	$62M	-9.0%
Cash and Cash Equivalents, at Carrying Value	$599M	$720M	-16.7%	$975M	$1.1B	-11.4%
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$11M	$11.1M	-0.9%	$16.3M	$1.3M	+1,153.8%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$599M	$719M	-16.7%	$975M	$1.1B	-11.4%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	-$376M	-$381M	+1.3%	-$125M	-$5.04B	+97.5%
Common Stock, Dividends, Per Share, Declared	$0.46	$0.40	+15.6%	$1.60	$1.40	+14.3%
Common Stock, Par or Stated Value Per Share	$0.01	$0.01	0.0%	$0.01	$0.01	0.0%
Common Stock, Shares Authorized	1B	1B	0.0%	1B	1B	0.0%
Common Stock, Shares, Issued	198M	206M	-3.8%	200M	208M	-3.7%
Common Stock, Shares, Outstanding	198M	206M	-3.8%	200M	208M	-3.7%
Common Stock, Value, Issued	$2M	$2.1M	-4.8%	$2M	$2.1M	-4.8%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$347M	$308M	+12.7%	$1.57B	$67.9M	+2,212.7%
Construction in Progress, Gross	$68.7M2026-06-27	$40.8M	+68.4%	$68.7M	$40.8M	+68.4%
Contract with Customer, Liability, Current	$43M	$47.4M	-9.3%	$35.1M	$38M	-7.6%
Contract with Customer, Liability, Revenue Recognized	$4M	$2M	+100.0%	-$10.9M	$24.2M	-145.0%
Cost of Revenue	$406M	$404M	+0.5%	$1.78B	$1.72B	+3.1%
Current Federal Tax Expense (Benefit)	–	–	–	$122M	$60.6M	+100.7%
Current Foreign Tax Expense (Benefit)	–	–	–	$130M	$88.8M	+46.2%
Current Income Tax Expense (Benefit)	–	–	–	$282M	$173M	+63.3%
Current State and Local Tax Expense (Benefit)	–	–	–	$30.7M	$23.3M	+31.8%
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	$15M	$18M	-16.7%	$15.9M	$18.7M	-15.0%
Debt Securities, Available-for-sale	$149M2026-06-27	$0	–	$149M	$0	–
Debt Securities, Available-for-sale, Current	$149M2026-06-27	$0	–	$149M	$0	–
Debt Securities, Available-for-sale, Noncurrent	$02026-06-27	$0	–	$0	$0	–
Debt Securities, Available-for-sale, Realized Gain (Loss)	–	–	–	$0	$2.6M	-100.0%
Debt Securities, Available-for-sale, Unrealized Gain (Loss)	–	–	–	$0	$0	–
Deferred Federal Income Tax Expense (Benefit)	–	–	–	$44.2M	-$144M	+130.7%
Deferred Foreign Income Tax Expense (Benefit)	–	–	–	-$2.1M	$16.3M	-112.9%
Deferred Income Tax Assets, Net	$36M	$33.1M	+8.8%	$35.7M	$33.8M	+5.6%
Deferred Income Tax Expense (Benefit)	$15M	$59M	-74.6%	$50.8M	-$140M	+136.3%
Deferred Income Tax Liabilities, Net	$183M	$151M	+21.0%	$173M	$79.8M	+116.5%
Deferred State and Local Income Tax Expense (Benefit)	–	–	–	$8.7M	-$12M	+172.5%
Deferred Tax Assets, Gross	$480M2026-06-27	$548M	-12.5%	$480M	$548M	-12.5%
Deferred Tax Assets, Inventory	$15.4M2026-06-27	$16.4M	-6.1%	$15.4M	$16.4M	-6.1%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-26, 10-K 2026-06-27, 10-Q 2026-03-28, 10-Q 2025-12-27, 10-Q 2025-09-27, 10-K 2025-06-28, 10-Q 2025-03-29, 10-Q 2024-12-28, 10-Q 2024-09-28

Data as of 2026-11-06