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Tapestry, Inc. (TPR)

NYSE / Consumer Cyclical / Luxury Goods

Share price

119.77 USD Market dataClose of Oct 15, 2026

Market capitalisation

23.92B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2026, filed Aug 13, 2026
Ratios computed
Oct 15, 2026
Filed years
11, FY2016 to FY2026
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

42.6% Computed

From the FY2026 filing

Read quality

Valuation

Price to earnings

15.99x Computed

FY2026 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

7.2% Computed

FY2026 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2017 Revenue: 4.49B USDFY2017 Net income: 591.0M USDFY2018 Revenue: 5.88B USDFY2018 Net income: 397.5M USDFY2019 Revenue: 6.03B USDFY2019 Net income: 643.4M USDFY2020 Revenue: 4.96B USDFY2020 Net income: -652.1M USDFY2021 Revenue: 5.75B USDFY2021 Net income: 834.2M USDFY2022 Revenue: 6.68B USDFY2022 Net income: 856.3M USDFY2023 Revenue: 6.66B USDFY2023 Net income: 936.0M USDFY2024 Revenue: 6.67B USDFY2024 Net income: 816.0M USDFY2025 Revenue: 7.01B USDFY2025 Net income: 183.2M USDFY2026 Revenue: 8.00B USDFY2026 Net income: 1.53B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
6 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 15.99x at the close of 2026-10-15 on FY2026 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 15.00x and 25.00x.

Today, against the Consumer Cyclical sector (302 companies), 15.99x sits at the 35th percentile; the middle half of that group runs from 12.87x to 31.26x.

Is it good

Return on invested capital was 42.6% in FY2026, in the band labelled "Exceptional" (20.0% and above), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on the capital in the business well above the usual cost of that capital.

Today, against the Consumer Cyclical sector (222 companies), 42.6% sits at the 95th percentile; the middle half of that group runs from 3.6% to 14.8%.

Is it safe

Interest coverage was 16.05x in FY2026, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.

Year by year against peers
Whether Tapestry, Inc.'s return on invested capital stayed above the median of the Consumer Cyclical sector, year by year. (FY2021 to FY2025, 5 fiscal years of Tapestry, Inc. with a comparable figure)
The direction
Which way Tapestry, Inc.'s return on equity has moved, and how steadily. (FY2017 to FY2026, 10 filed years of Tapestry, Inc.)
What could explain it
What in Tapestry, Inc.'s filed statements could explain the movements. (13 readings drawn from the statement lines Tapestry, Inc. filed)
What to check next
What to check next on Tapestry, Inc., and where in its filings. (6 questions for Tapestry, Inc.)
In one paragraph
One paragraph on Tapestry, Inc.'s returns, cash, balance sheet and price. (16 of sixteen figures read for Tapestry, Inc.)

These are TPR’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research TPRPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2026 annual report: 10-K, filed Aug 13, 2026, accession 0001116132-26-000018.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Tapestry, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax42.6% ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Return on equity220.7% ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Return on capital employed, pre-tax37.9% ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Return on assets22.8% ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Gross margin77.8% ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Operating margin23.9% ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Net margin19.1% ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
TPR 19.1%
TCOM 53.4%WSM 13.9%RL 11.6%YUM 19.0%SN 11.0%
11.0%53.4%
Net margin: TPR against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Tapestry, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity5.74 ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Current ratio1.75 ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Quick ratio1.25 ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Interest coverage16.05x ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Altman Z-score4.21 ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Net debt2.82B ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Total assets 6.69BTotal liabilities 6.00BShareholders' equity 692.1MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Tapestry, Inc owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Aug 13, 2026, 0001116132-26-000018).

Tapestry, Inc: balance sheet position
Total assets6.69B FiledFY2026 10-K, filed Aug 13, 2026
Total liabilities6.00B FiledFY2026 10-K, filed Aug 13, 2026
Shareholders' equity692.1M FiledFY2026 10-K, filed Aug 13, 2026
Cash1.15B FiledFY2026 10-K, filed Aug 13, 2026
Total debt3.97B FiledFY2026 10-K, filed Aug 13, 2026
Net debt2.82B
Current ratio1.75
Debt to equity5.74

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Tapestry, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings15.99x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
P/E on trailing twelve months16.12x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book36.38x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Price to sales3.15x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Enterprise value to EBIT14.72x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Enterprise value to EBITDA13.58x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Price to earnings over growth0.80 ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Diluted earnings per share7.27 USD FiledFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Graham number23.56 USD ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018

We publish no fair value or price target of our own. Value TPR on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Tapestry, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Tapestry, Inc: valuation
Share price119.77 USD
Market capitalisation23.92B USD
Enterprise value to EBITDA13.58x
Graham number23.56 USD
Diluted earnings per share, FY20267.27 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Aug 18, 2017: low 5.14x, median 14.07x, high 142.85x, latest 16.12x. 2,047 trading days with a meaningful ratio, 252 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Tapestry, Inc

  1. Trip.com Group Limited (TCOM)Market cap 25.94B USD
  2. Williams-Sonoma, Inc. (WSM)Market cap 29.68B USD
  3. Ralph Lauren Corporation (RL)Market cap 23.30B USD
  4. Yum! Brands, Inc. (YUM)Market cap 41.16B USD
  5. SharkNinja, Inc. (SN)Market cap 27.41B USD

Same sector (Consumer Cyclical) and size band (Large, 10B to 200B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Tapestry, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield7.2% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Free cash flow1.81B USD ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Free cash flow margin22.6% ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Dividend yield1.4% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Payout ratio21.4% ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
FY2017 Free cash flow: 570.7M USDFY2017 Net income: 591.0M USDFY2018 Free cash flow: 730.1M USDFY2018 Net income: 397.5M USDFY2019 Free cash flow: 518.2M USDFY2019 Net income: 643.4M USDFY2020 Free cash flow: 201.6M USDFY2020 Net income: -652.1M USDFY2021 Free cash flow: 1.21B USDFY2021 Net income: 834.2M USDFY2022 Free cash flow: 759.3M USDFY2022 Net income: 856.3M USDFY2023 Free cash flow: 791.0M USDFY2023 Net income: 936.0M USDFY2024 Free cash flow: 1.15B USDFY2024 Net income: 816.0M USDFY2025 Free cash flow: 1.09B USDFY2025 Net income: 183.2M USDFY2026 Free cash flow: 1.81B USDFY2026 Net income: 1.53B USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Tapestry, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
15.99xFY2026Oct 15, 2026
36.38xFY2026Oct 15, 2026
14.72xFY2026Oct 15, 2026
7.2%FY2026Oct 15, 2026
42.6%FY2026Aug 13, 2026
1.4%FY2026Oct 15, 2026
5.74FY2026Aug 13, 2026
1.75FY2026Aug 13, 2026
3.15xFY2026Oct 15, 2026
0.80FY2026Oct 15, 2026
4.21FY2026Oct 15, 2026
-2.57FY2026Aug 13, 2026
8/9FY2026Aug 13, 2026

The figures are computed from the accounts for fiscal 2026, the newest full year on file. 11 filed fiscal years on record, FY2016 to FY2026, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2017 to FY2026, read from the annual reports Tapestry, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Tapestry, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20268.00B1.91B1.53B7.271.81B23.9%220.7%10-K, Aug 13, 20260001116132-26-000018
FY20257.01B415.0M183.2M0.821.09B5.9%21.4%10-K, Aug 14, 20250001116132-25-000019
FY20246.67B1.14B816.0M3.501.15B17.1%28.2%10-K, Aug 15, 20240001116132-24-000018
FY20236.66B1.17B936.0M3.88791.0M17.6%41.1%10-K, Aug 17, 20230001116132-23-000020
FY20226.68B1.18B856.3M3.17759.3M17.6%37.5%10-K, Aug 18, 20220001116132-22-000018
FY20215.75B968.0M834.2M2.951.21B16.9%25.6%10-K, Aug 19, 20210001116132-21-000020
FY20204.96B-550.8M-652.1M-2.34201.6M-11.1%-28.6%10-K, Aug 13, 20200001116132-20-000022
FY20196.03B819.7M643.4M2.21518.2M13.6%18.3%10-K, Aug 15, 20190001116132-19-000016
FY20185.88B672.0M397.5M1.38730.1M11.4%12.3%10-K, Aug 16, 20180001116132-18-000021
FY20174.49B787.4M591.0M2.09570.7M17.5%19.7%10-K, Aug 18, 20170001116132-17-000011
  • Revenue, compound annual growth FY2017 to FY2026: 6.6%
  • Earnings, compound annual growth FY2017 to FY2026: 11.1%
  • Earnings per share, compound annual growth FY2017 to FY2026: 14.9%
  • Free cash flow, compound annual growth FY2017 to FY2026: 13.7%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Tapestry, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.57 ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Piotroski F-score8/9 ComputedFY2026 10-K, filed Aug 13, 2026, 0001116132-26-000018
Named tests met6 of 30 Computed
Beta1.08 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 6 met, 24 not met, 0 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Three forensic scores; Gross margin, turnover (Robert Novy-Marx); ROIC at or above WACC; High return on tangibles; Cash-covered dividend; Cash-flow yield and ROIC
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Low PEG, low debt (Peter Lynch); High returns and growth; EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Owner earnings yield; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Figures we could not read(1)
  • Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • One figure could not be read on this company: Price Tangible Book.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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