NYSE: TPR
Tapestry
Consumer Discretionary · Leather & Leather Products
52-week range
Stock price
Market cap
At each fiscal year end: closing price × shares outstanding.Figures shown are for FY2026, ended Jun 27, 2026. Hover or tap a column for another year.$29.1B
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| Period | Market cap |
|---|---|
| FY2017, ended Jul 1, 2017 | $13.4B |
| FY2018, ended Jun 30, 2018 | $13.5B |
| FY2019, ended Jun 29, 2019 | $9.10B |
| FY2020, ended Jun 27, 2020 | $3.47B |
| FY2021, ended Jul 3, 2021 | $11.9B |
| FY2022, ended Jul 2, 2022 | $7.43B |
| FY2023, ended Jul 1, 2023 | $9.73B |
| FY2024, ended Jun 29, 2024 | $9.85B |
| FY2025, ended Jun 28, 2025 | $18.1B |
| FY2026, ended Jun 27, 2026 | $29.1B |
Revenue
By fiscal year.Figures shown are for FY2026, ended Jun 27, 2026. Hover or tap a column for another year.$8.00B
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| Period | Revenue |
|---|---|
| FY2017, ended Jul 1, 2017 | $4.49B |
| FY2018, ended Jun 30, 2018 | $5.88B |
| FY2019, ended Jun 29, 2019 | $6.03B |
| FY2020, ended Jun 27, 2020 | $4.96B |
| FY2021, ended Jul 3, 2021 | $5.75B |
| FY2022, ended Jul 2, 2022 | $6.68B |
| FY2023, ended Jul 1, 2023 | $6.66B |
| FY2024, ended Jun 29, 2024 | $6.67B |
| FY2025, ended Jun 28, 2025 | $7.01B |
| FY2026, ended Jun 27, 2026 | $8.00B |
Net income and free cash flow
By fiscal year. Free cash flow is operating cash flow minus capex.Figures shown are for FY2026, ended Jun 27, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2017, ended Jul 1, 2017 | $591M | $571M |
| FY2018, ended Jun 30, 2018 | $398M | $730M |
| FY2019, ended Jun 29, 2019 | $643M | $518M |
| FY2020, ended Jun 27, 2020 | −$652M | $202M |
| FY2021, ended Jul 3, 2021 | $834M | $1.21B |
| FY2022, ended Jul 2, 2022 | $856M | $759M |
| FY2023, ended Jul 1, 2023 | $936M | $791M |
| FY2024, ended Jun 29, 2024 | $816M | $1.15B |
| FY2025, ended Jun 28, 2025 | $183M | $1.09B |
| FY2026, ended Jun 27, 2026 | $1.53B | $1.81B |
Cash and cash equivalents
At each fiscal year end.Figures shown are for FY2026, ended Jun 27, 2026. Hover or tap a column for another year.$975M
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| Period | Cash and cash equivalents |
|---|---|
| FY2017, ended Jul 1, 2017 | $2.67B |
| FY2018, ended Jun 30, 2018 | $1.24B |
| FY2019, ended Jun 29, 2019 | $969M |
| FY2020, ended Jun 27, 2020 | $1.43B |
| FY2021, ended Jul 3, 2021 | $2.01B |
| FY2022, ended Jul 2, 2022 | $790M |
| FY2023, ended Jul 1, 2023 | $726M |
| FY2024, ended Jun 29, 2024 | $6.14B |
| FY2025, ended Jun 28, 2025 | $1.10B |
| FY2026, ended Jun 27, 2026 | $975M |
Total debt
At each fiscal year end. Short- and long-term borrowings, excluding leases.Figures shown are for FY2026, ended Jun 27, 2026. Hover or tap a column for another year.$2.38B
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| Period | Total debt |
|---|---|
| FY2017, ended Jul 1, 2017 | $1.58B |
| FY2018, ended Jun 30, 2018 | $1.60B |
| FY2019, ended Jun 29, 2019 | $1.60B |
| FY2020, ended Jun 27, 2020 | $1.59B |
| FY2021, ended Jul 3, 2021 | $1.59B |
| FY2022, ended Jul 2, 2022 | $1.66B |
| FY2023, ended Jul 1, 2023 | $1.64B |
| FY2024, ended Jun 29, 2024 | $6.94B |
| FY2025, ended Jun 28, 2025 | $2.38B |
| FY2026, ended Jun 27, 2026 | $2.38B |
Shares outstanding
At each fiscal year end, adjusted for splits. Down 29.4% since 2017.Figures shown are for FY2026, ended Jun 27, 2026. Hover or tap a column for another year.199M
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| Period | Shares outstanding |
|---|---|
| FY2017, ended Jul 1, 2017 | 283M |
| FY2018, ended Jun 30, 2018 | 288M |
| FY2019, ended Jun 29, 2019 | 287M |
| FY2020, ended Jun 27, 2020 | 276M |
| FY2021, ended Jul 3, 2021 | 280M |
| FY2022, ended Jul 2, 2022 | 241M |
| FY2023, ended Jul 1, 2023 | 227M |
| FY2024, ended Jun 29, 2024 | 230M |
| FY2025, ended Jun 28, 2025 | 208M |
| FY2026, ended Jun 27, 2026 | 199M |
Buybacks and new shares
By fiscal year, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for FY2026, ended Jun 27, 2026. Hover or tap a column for another year.Net: $1.45B more bought back than issued
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2017, ended Jul 1, 2017 | $0 | $73.6M |
| FY2018, ended Jun 30, 2018 | $0 | $81.3M |
| FY2019, ended Jun 29, 2019 | $100M | $84.8M |
| FY2020, ended Jun 27, 2020 | $300M | $53.1M |
| FY2021, ended Jul 3, 2021 | $0 | $64.1M |
| FY2022, ended Jul 2, 2022 | $1.60B | $72.2M |
| FY2023, ended Jul 1, 2023 | $704M | $78.8M |
| FY2024, ended Jun 29, 2024 | $0 | $85.9M |
| FY2025, ended Jun 28, 2025 | $1.72B | $87.3M |
| FY2026, ended Jun 27, 2026 | $1.55B | $105M |
Revenue (TTM)
$8.00B
+14.2% YoY
Net income (TTM)
$1.53B
+734% YoY
Cash
$975M
−11.4% YoY
Total debt
$2.38B
+0.0% YoY
Valuation
At current price- Market Cap
- $23.2B
- P/E
- 15.2×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 2.9×
- Price / Book
- 33.5×
- EV / EBITDA
- 11.9×
Growth
Trailing 12 months- Revenue (TTM)
- $8.00B
- Revenue Growth YoY
- 14.2%
- Revenue CAGR 3Y
- 6.3%
- Revenue CAGR 5Y
- 6.9%
- EPS Growth YoY
- 787%
- Net Income Growth YoY
- 734%
Profitability
Trailing 12 months- Gross Margin
- 77.8%
- Operating Margin
- 23.9%
- Net Margin
- 19.1%
- FCF Margin
- 22.6%
- Return on Equity
- 197%
Earnings
Trailing 12 months- Net Income
- $1.53B
- EPS (diluted)
- $7.27
- EBITDA
- $2.08B
- Operating Income
- $1.91B
Balance Sheet
As of Jun 27, 2026- Cash and cash equivalents
- $975M
- Total Debt
- $2.38B
- Net Debt
- $1.40B
- Total Assets
- $6.69B
- Total Liabilities
- $6.00B
- Shareholders' Equity
- $692M
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.98B
- Capital Expenditure
- $166M
- Free Cash Flow
- $1.81B
Dividends and risk
Last 12 months- Dividend Yield
- 1.4%
- Dividend / Share
- $1.66
- Beta (5Y)
- 1.42
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 14.2% year over year, at $8.00B.
Strength
Operating margin widened 18.0 pts in a year, to 23.9%.
Note
Net debt of $1.40B is 0.7× EBITDA, a manageable load.
Strength
Turns 22.6% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Jun 27, 2026 · filed Aug 13, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K36Serious concerns
10-K for the fiscal year ended Jun 28, 2025
Filed Aug 14, 2025 · Read the filing on EDGAR
- Reported net income fell 77.6% to $183.2 million on 5.1% higher sales, mainly because of $854.8 million in Kate Spade impairment charges.
- The Capri deal ended in November 2024 after a court blocked it. Tapestry repaid the deal debt, cutting total debt to about $2.39 billion.
- Coach sales rose 9.9% and its operating income rose 13.6%, while Kate Spade sales fell 10.3% and it swung to a large operating loss.
- Tapestry expects tariffs to reduce fiscal 2026 operating margin by about 2.3 percentage points. It also completed the Stuart Weitzman sale and spent $2 billion on buybacks.
Business momentum
Sharp deterioration
“Net income decreased 77.6% or $632.8 million to $183.2 million in fiscal 2025 as compared to a net income of $816.0 million in fiscal 2024.”
Outlook
Cautious
“At the time of this report, the Company estimates a projected tariff and trade policy impact of approximately 230 basis points to operating margin in fiscal 2026 after consideration of mitigating actions.”
Financial stress
Low
“Management believes that cash flows from operations, access to the credit and capital markets and our credit lines, on-hand cash and cash equivalents and our investments will provide adequate funds to support our operating, capital and debt service requirements for fiscal 2026 and beyond.”
Tone against the previous report
About the same
Red flags
- Medium
Large write-down
“As a result, the Company recorded $244.1 million of impairment charges to goodwill for the Kate Spade reporting unit and $610.7 million of impairment charges to indefinite-lived brand intangible assets during the fourth quarter of fiscal 2025.”
- Medium
Other
“Capri Acquisition Costs: Total pre-tax charges of $268.4 million primarily related to:”
Positives
Coach delivered strong sales growth
“Coach Net Sales increased 9.9% or $503.2 million to $5.60 billion in fiscal 2025.”
Gross margin improved, helped by better pricing
“Gross margin in fiscal 2025 increased 210 basis points to 75.4% as compared to 73.3% in fiscal 2024.”
Debt fell sharply after the deal financing was repaid
“As of June 28, 2025, our consolidated debt was approximately $2.39 billion.”
Concerns
Kate Spade sales are shrinking
“Kate Spade Net Sales decreased 10.3% or $137.3 million to $1.20 billion in fiscal 2025.”
Most US products come from countries facing new tariffs
“The majority of the Company's products sold in the U.S. are imported from countries in which these tariffs were announced.”
The $2 billion buyback helped move the company further into net debt
“use of cash of $2.02 billion under the Company's accelerated share repurchase program”
New risks since the previous report
Kate Spade could face more write-downs if profits fall short of expectations
“If profitability trends decline during fiscal 2026 from those that are expected, it is possible that an interim test, or our annual impairment test, could result in an impairment of these assets.”
New minimum taxes abroad could raise the company's tax rate
“Unless U.S. MNEs are likewise excluded from QDMTT, the Company believes QDMTT would have a negative impact on its effective tax rate in fiscal 2026 and beyond.”
Selling business lines could bring costs and disruption
“We continuously evaluate how to best structure our business in an effort to maximize shareholder value, which could include the divestiture of certain of our lines of business, such as our recently completed sale of the Stuart Weitzman Business.”
Artificial intelligence is making cyberattacks more dangerous
“Additionally, artificial intelligence is being used to carry out advanced social engineering attacks, increasing potential for harm.”
Biggest risks named
- Tariffs and changing trade policy
- Weak economy reducing spending on discretionary goods
- Further Kate Spade decline and write-downs
- Changing fashion trends and damage to brand value
- Reliance on overseas manufacturers and global supply chains
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −15 | |
| Outlook | −2 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −4.8 | |
| New risks | −2 | |
| Score | 36 | |
Written by AI (Claude Opus 5.5) from the report’s text. 15 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Aug 13, 2026 | Pro | |||
| 10-K | Aug 14, 2025 | 36 | Sharp deterioration | 2 medium | |
| 10-K | Aug 15, 2024 | 51 | Mixed | 1 medium | |
| 10-K | Aug 17, 2023 | 54 | Stable | 1 medium | |
| 10-K | Aug 18, 2022 | 68 | Strong improvement | None | |
| 10-K | Aug 19, 2021 | 70 | Strong improvement | None | |
| 10-K | Aug 13, 2020 | 26 | Sharp deterioration | 2 medium | |
| 10-K | Aug 15, 2019 | 60 | Improving | None | |
| 10-K | Aug 16, 2018 | 59 | Mixed | 1 minor | |
| 10-K | Aug 18, 2017 | 52 | Mixed | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-K for FY2026 (period ended Jun 27, 2026), filed Aug 13, 2026. View filings on SEC EDGAR