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Tapestry, Inc. (TPR) stock

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NYSE: TPR NYSE Apparel, Accessories & Luxury Goods Next results ~November 5, 2026

B+ Fundamentals grade

Tapestry, Inc. is a US-listed company in the apparel, accessories & luxury goods industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$200

Cash-flow model

Base case. Range ~$150–$260 across our lower- and higher-growth cases (5.2%–15.2% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 63% above it.

Price used: $120.76, November 2, 2026

Tapestry, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Tapestry files

Where Tapestry stands after its latest 10-K

Revenue for the twelve months to June 2026 was $8.00bn, up 14.2% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin rose to 22.6% from 15.6% a year earlier. Operating margin widened to 23.9% from 5.9%. The diluted share count is down 5.5% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 3 of our 7 financial-health checks. Our cash-flow model value is $171 a share, against a share price of $116. At that price, our model says the market is pricing in about 3.9% a year of cash-flow growth for five years, slower than the 6.9% a year revenue growth it has delivered.

Source: 10-K filed August 13, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Tapestry, Inc.'s trailing-twelve-month revenue grew 14.2% year on year, with a free-cash-flow margin of 22.6%. Where it stands out: gross margin of 77.8% ranks 1 of 27 apparel, accessories & luxury goods companies we cover. Where it lags: long-term debt as % of assets of 35.8% ranks 21 of 22 apparel, accessories & luxury goods companies we cover.

Our discounted-cash-flow model values the business at ~$200 per share in the base case (~$150–$260 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 65.7% while net income grew 733.9%: a 668pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $120.76 is 63% below our value per share of $200.
  • Margins widening. Operating margin is up 18.0 points on a year ago.
  • Strong cash generation. 22.6% of revenue turned into free cash flow, against a median of 7.6% for apparel, accessories & luxury goods companies we cover.
  • Shrinking share count. Diluted shares fell 5.5% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Insiders selling. 8 insiders sold $48M of stock over the past 365 days and none bought (31% under pre-set trading plans).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 35.8% ranks 21 of 22 apparel, accessories & luxury goods companies we cover (median 15.1%).

Latest results: FY2026 Q4

Filed August 13, 2026
Earnings per share
$1.32 against an average estimate of $1.28: beat by 3.4%
Revenue
$1.88bn, up 8.9% on a year earlier
Share reaction
-16.1% in the first session after the results on August 13, 2026, against +0.5% for the S&P 500
Guidance given
revenue $8.4bn to $8.5bn (Fiscal 2027); foreign currency benefit to revenue growth 40 (Fiscal 2027)
Next report
November 5, 2026; average EPS estimate $1.56

Tapestry's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.8%
  • 1 week+8.9%
  • 1 month+2.2%
  • This year-4.6%
  • 1 year+11.4%
  • 5 years+227.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$8B
Operating margin
23.9%
Net margin
19.1%
EPS (TTM, diluted)
$7.27

Growth

Revenue growth
+14.2%
Change in growth rate
+0.0 pts
Share count change
−5.5%

Cash

Free cash flow (TTM)
$1.8B
FCF margin
22.6%
Stock pay % of revenue
1.3%

Earnings

Last results
August 13, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Leadership
  3. Announcement
  4. Announcement
  5. Announcement
  6. Insider trade
  7. Results
  8. Guidance
  9. Announcement
  10. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Tapestry, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 0.9% a year of cash-flow growth for five years.That is slower than the 6.9% a year revenue growth Tapestry has delivered.

  • Priced in0.9%
  • Last 12 months14.2%
  • 3 years a year6.3%
  • 5 years a year6.9%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($119.52, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$200
Price used
$119.52close November 3, 2026
Implied change
▲ +64%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Tapestry, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($1.6B, FY2026 Q4 TTM), growing 7.9% and 8.4% in the next two years (forecasts, guidance and its record), then back to 10.2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$150–~$260 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Tapestry, Inc.'s free cash flow after stock-based pay ( $1.6B, FY2026 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Tapestry, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.05 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$200 ~$150–$260 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$120 ~$100–$170 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$61 ~$53–$72 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$140 ~$61–$200 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Tapestry, Inc. with Apparel, Accessories & Luxury Goods in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▲ +43%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $110$152$207$279$374$496
8.5% $83$113$153$205$272$359
10% $66$90$120$160$211$277

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$30.85$37.10$37.74$26.59$10.98$37.33$27.68$39.65$41.14$85.68$145.45
Market value$8.6bn$10.5bn$10.9bn$7.7bn$3.1bn$10.6bn$7.5bn$9.6bn$9.6bn$19.1bn$30.6bn
+ Net debt (− = net cash)$26m−$1.1bn$375m$648m$885m−$408m$910m$943m$1.2bn$1.3bn$1.4bn
Enterprise value$8.6bn$9.4bn$11.3bn$8.4bn$3.9bn$10.2bn$8.4bn$10.5bn$10.8bn$20.4bn$32.0bn
Multiples
Price / sales 1.9x2.3x1.9x1.3x0.6x1.8x1.1x1.4x1.4x2.7x3.8x
Price / earnings 18.7x17.8x27.4x12.0x—12.7x8.7x10.2x11.8x104.1x20.0x
Price / free cash flow 23.8x18.4x14.9x14.9x15.2x8.7x9.8x12.1x8.4x17.4x16.9x
EV / EBITDA 9.9x9.4x11.9x7.7x14.2x8.5x6.1x7.8x8.2x35.3x15.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

71 /100

Strong moat

How hard Tapestry's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 17 / 20

    Cash operating profit has been a median 12.9% of total assets over 10 years.

  • Pricing power 18 / 20

    Gross margin has been a median 70.2%, moving by 3.9 percentage points (standard deviation) across 10 years.

  • Durability 5 / 20

    Operating margin has been a median 17.0%; its worst year was -11.1%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 10 of 10 years, at a median 12.6% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 25.7% over five years; stock-based pay has been a median 1.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (76 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $1.8bn and EPS of $1.56 (range $1.52 to $1.59) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $7.96 +13% $8.5bn +7%
Next $8.89 +12% $9.0bn +5%

Next year's EPS estimate has moved +0.6% in 90 days, across 21 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.8% on 90 days ago. In the last 30 days, 17 analysts raised Tapestry, Inc.'s forecast and 2 cut it.

Consensus EPS forecast Tapestry, Inc., last 90 days
$7.50 $8.00 $8.50 $9.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $7.82 Current fiscal year, 60 days ago: $7.98 Current fiscal year, 30 days ago: $7.97 Current fiscal year, 7 days ago: $7.96 Current fiscal year, Now: $7.96 $7.96 Next fiscal year, 90 days ago: $8.83 Next fiscal year, 60 days ago: $8.87 Next fiscal year, 30 days ago: $8.90 Next fiscal year, 7 days ago: $8.88 Next fiscal year, Now: $8.89 $8.89

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $7.82$8.83
60 days ago $7.98$8.87
30 days ago $7.97$8.90
7 days ago $7.96$8.88
Now $7.96$8.89

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.28 $1.32 +3.4%
Mar 2026 $1.30 $1.66 +27.8%
Dec 2025 $2.23 $2.69 +20.7%
Sept 2025 $1.27 $1.38 +8.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 13, 2026
  • Revenue Fiscal 2027 $8.4bn to $8.5bn Non-GAAP New
    “Revenue of $8.4 billion to $8.5 billion, representing mid-single digit growth on a nominal and constant currency basis versus the prior year.” source
  • Earnings per diluted share Fiscal 2027 $7.80 to $7.90 Non-GAAP New
    “Earnings per diluted share of $7.80 to $7.90, representing low-double-digit growth versus prior year ;” source
  • Operating margin expansion Fiscal 2027 about 50 Non-GAAP New
    “Operating margin expansion of approximately 50 basis points versus prior year;” source
  • Foreign currency benefit to revenue growth Fiscal 2027 about 40 Non-GAAP New
    “Foreign currency is expected to be a 40 basis point benefit to revenue growth in the fiscal year;” source
  • Net interest expense Fiscal 2027 about $55m Non-GAAP New
    “Net interest expense of approximately $55 million;” source
  • Tax rate Fiscal 2027 about 18.5% Non-GAAP New
    “Tax rate of approximately 18.5%;” source
Show 5 more items
  • Weighted average diluted share count Fiscal 2027 about 203m Non-GAAP New
    “Weighted average diluted share count of approximately 203 million;” source
  • Adjusted free cash flow Fiscal 2027 about $1.7bn Non-GAAP New
    “Adjusted free cash flow approaching $1.7 billion, including CapEx and Cloud Computing costs of $300 million or approximately 3% to 4% of revenue.” source
  • CapEx and Cloud Computing costs Fiscal 2027 about $300m Non-GAAP New
    “Adjusted free cash flow approaching $1.7 billion, including CapEx and Cloud Computing costs of $300 million or approximately 3% to 4% of revenue.” source
  • CapEx and Cloud Computing costs as % of revenue Fiscal 2027 3% to 4% Non-GAAP New
    “Adjusted free cash flow approaching $1.7 billion, including CapEx and Cloud Computing costs of $300 million or approximately 3% to 4% of revenue.” source
  • Foreign currency benefit to revenue growth first fiscal quarter of 2027 about 30 Non-GAAP New
    “Foreign currency is expected to be a 30 basis point benefit to revenue growth in the fiscal quarter;” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Tapestry, Inc.'s revenue by +7.9% next year and +8.4% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+6.9%, weight 70%) and the company's own record (+10.2%, weight 30%) . How the weights are set.

Analyst recommendations

21 analysts, Oct 2026
Buy1676%
Hold419%
Sell15%

Monthly trend

  1. Oct 2026610421
  2. Sep 2026611422
  3. Aug 2026611422
  4. Jul 2026511522

Counts of recommendations published by analysts covering Tapestry, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.8%
of tradable shares
Days to cover
6.15
at average volume
Short interest, 1 month
+8%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.4%
of shares
Employees
12,600
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +11.4%

$108.42 on October 31, 2025 to $120.76

ThenNowEffect
Revenue (last 12 months) $7.0bn $8.0bn +14.2%
Net margin 2.6% 19.1% +630.4%
P/E multiple 131.7x 16.6x −87.4%
Share count 223m 210m +5.9%

Biggest factor: p/e multiple.

Last 3 years +361.6%

$26.16 on November 3, 2023 to $120.76

ThenNowEffect
Revenue (last 12 months) $6.7bn $8.0bn +20.2%
Net margin 14.1% 19.1% +35.8%
P/E multiple 6.7x 16.6x +146.3%
Share count 241m 210m +14.8%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
TPR+32%−3%+0%+83%+99%−5%
Industry peers (median)+18%−37%+2%−6%−12%+14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TPR50%58%42%75%67%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TPR−24%−36%−42%−24%−32%−33%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 79% from April 27, 2018 to March 23, 2020. Getting back needed a 373% gain, reached on February 20, 2024, 1429 days after the low.

Price behaviour

52-week range
$97.55 – $164.16
From 52-week high
−26.4%
vs 50-day average
+2.8%
vs 200-day average
−11.5%
Volatility (1 year)
41%
Beta vs S&P 500
0.97

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±8.1%
After a week
7 up, 5 down
typical move ±12.1%
After a month
8 up, 4 down
typical move ±11.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 13, 2026 −16.1% +0.5% −15.6% −23.0%
May 7, 2026 −10.3% +0.5% −12.5% −5.1%
February 5, 2026 +17.1% +0.6% +17.5% +12.3%
November 6, 2025 −5.2% −1.0% −7.8% +7.7%
August 14, 2025 −11.3% −0.2% −13.3% −2.6%
May 8, 2025 +4.4% +0.6% +11.4% +6.5%
February 6, 2025 +9.5% −0.6% +18.1% −3.2%
November 7, 2024 +4.9% +1.2% +16.2% +25.8%
August 15, 2024 +6.4% +1.9% +5.8% +14.9%
August 1, 2024 −4.9% −3.3% −5.4% +2.2%
May 9, 2024 +2.8% +0.7% +9.1% +14.3%
February 8, 2024 +4.1% +0.6% +12.7% +16.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Tapestry, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.03× the last 60 days’ realised volatility .
  • Puts and calls are priced at about the same implied volatility.
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

TPR Tapestry, Inc. Grade B+ $119.9

Sell the $105 put expiring December 18, 2026 (46 days) for $2.25 a share — $225 per contract.

Previous session · Bid $2.25, ask $2.80, quoted Mon 2 Nov, 17:37 New York time with TPR at $119.9. Option prices move with the shares: check the live chain at your broker before trading.

  • If TPR ends above $105: you keep the $225 — 2.1% on the $10,500 set aside, or 17.0% a year at that pace.
  • If it ends below $105: you buy 100 shares at an effective $102.75, 14% below today's price and 49% below our value of ~$200.
$225 −$2.1k Break-even $102.75 Price $119.9 Our value ~$200 →
Profit or loss per contract at expiry, by share price.
Premium
$225
Annualised
17.0%
Break-even
$102.75
Max gain
$225
Chance of buying
~19%

Results are expected around November 5, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Tapestry, Inc. in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Tapestry, Inc.
$6.5B $7B $7.5B $8B $8.5B FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $6.7B Revenue (TTM), FY24 Q2: $6.7B Revenue (TTM), FY24 Q3: $6.7B Revenue (TTM), FY24 Q4: $6.7B Revenue (TTM), FY25 Q1: $6.7B Revenue (TTM), FY25 Q2: $6.8B Revenue (TTM), FY25 Q3: $6.9B Revenue (TTM), FY25 Q4: $7B Revenue (TTM), FY26 Q1: $7.2B Revenue (TTM), FY26 Q2: $7.5B Revenue (TTM), FY26 Q3: $7.9B Revenue (TTM), FY26 Q4: $8B $8B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $6.7B
FY24 Q2 $6.7B
FY24 Q3 $6.7B
FY24 Q4 $6.7B
FY25 Q1 $6.7B
FY25 Q2 $6.8B
FY25 Q3 $6.9B
FY25 Q4 $7B
FY26 Q1 $7.2B
FY26 Q2 $7.5B
FY26 Q3 $7.9B
FY26 Q4 $8B
Revenue growth, TTM YoY Tapestry, Inc.
-5% 0% 5% 10% 15% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: -0.6% Revenue growth, TTM YoY, FY24 Q2: 2.0% Revenue growth, TTM YoY, FY24 Q3: 0.5% Revenue growth, TTM YoY, FY24 Q4: 0.2% Revenue growth, TTM YoY, FY25 Q1: -0.0% Revenue growth, TTM YoY, FY25 Q2: 0.7% Revenue growth, TTM YoY, FY25 Q3: 2.7% Revenue growth, TTM YoY, FY25 Q4: 5.1% Revenue growth, TTM YoY, FY26 Q1: 8.1% Revenue growth, TTM YoY, FY26 Q2: 10.9% Revenue growth, TTM YoY, FY26 Q3: 14.1% Revenue growth, TTM YoY, FY26 Q4: 14.2% 14.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 -0.6%
FY24 Q2 2.0%
FY24 Q3 0.5%
FY24 Q4 0.2%
FY25 Q1 -0.0%
FY25 Q2 0.7%
FY25 Q3 2.7%
FY25 Q4 5.1%
FY26 Q1 8.1%
FY26 Q2 10.9%
FY26 Q3 14.1%
FY26 Q4 14.2%
Operating margin (TTM) Tapestry, Inc.
0% 10% 20% 30% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: 17.6% Operating margin (TTM), FY24 Q2: 17.8% Operating margin (TTM), FY24 Q3: 17.6% Operating margin (TTM), FY24 Q4: 17.1% Operating margin (TTM), FY25 Q1: 17.1% Operating margin (TTM), FY25 Q2: 17.5% Operating margin (TTM), FY25 Q3: 17.9% Operating margin (TTM), FY25 Q4: 5.9% Operating margin (TTM), FY26 Q1: 6.8% Operating margin (TTM), FY26 Q2: 9.5% Operating margin (TTM), FY26 Q3: 11.3% Operating margin (TTM), FY26 Q4: 23.9% 23.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 17.6%
FY24 Q2 17.8%
FY24 Q3 17.6%
FY24 Q4 17.1%
FY25 Q1 17.1%
FY25 Q2 17.5%
FY25 Q3 17.9%
FY25 Q4 5.9%
FY26 Q1 6.8%
FY26 Q2 9.5%
FY26 Q3 11.3%
FY26 Q4 23.9%
FCF margin (TTM) Tapestry, Inc.
10% 15% 20% 25% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: 15.6% FCF margin (TTM), FY24 Q2: 19.3% FCF margin (TTM), FY24 Q3: 19.4% FCF margin (TTM), FY24 Q4: 17.2% FCF margin (TTM), FY25 Q1: 17.8% FCF margin (TTM), FY25 Q2: 12.7% FCF margin (TTM), FY25 Q3: 13.0% FCF margin (TTM), FY25 Q4: 15.6% FCF margin (TTM), FY26 Q1: 15.0% FCF margin (TTM), FY26 Q2: 21.9% FCF margin (TTM), FY26 Q3: 22.4% FCF margin (TTM), FY26 Q4: 22.6% 22.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 15.6%
FY24 Q2 19.3%
FY24 Q3 19.4%
FY24 Q4 17.2%
FY25 Q1 17.8%
FY25 Q2 12.7%
FY25 Q3 13.0%
FY25 Q4 15.6%
FY26 Q1 15.0%
FY26 Q2 21.9%
FY26 Q3 22.4%
FY26 Q4 22.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Tapestry took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $8B
  2. Cost of revenue $1.8B · 22.2%
  3. Gross profit $6.2B · 77.8%
  4. Selling, general and admin $4.3B · 53.9%
  5. Operating income $1.9B · 23.9%
  6. Income tax $333M · 4.2%
  7. Interest and other $53.8M · 0.7%
  8. Net income $1.5B · 19.1%

Shares of revenue. Source: Tapestry's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jul 2010 2011 Jul 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jul 2016 2017 Jul 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jul 2021 2022 Jul 2022 2023 Jul 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 3,608 4,159 4,763 5,075 4,806 4,192 4,492 4,488 5,880 6,027 4,961 5,746 6,685 6,661 6,671 7,011 8,004
Gross profit 2,634 3,024 3,466 3,698 3,297 2,909 3,051 3,081 3,849 4,054 3,239 4,082 4,650 4,715 4,890 5,289 6,229
EBITDA 1,277 1,430 1,645 1,688 1,310 859 873 1,006 943 1,090 278 1,189 1,371 1,355 1,314 578 2,075
Operating income 1,150 1,305 1,512 1,525 1,120 618 654 787 672 820 −551 968 1,176 1,172 1,140 415 1,914
Net income 735 881 1,039 1,034 781 402 461 591 398 643 −652 834 856 936 816 183 1,528
Diluted EPS $2.33 $2.92 $3.53 $3.61 $2.79 $1.45 $1.65 $2.09 $1.38 $2.21 −$2.34 $2.95 $3.17 $3.88 $3.50 $0.82 $7.27
Growth (year on year)
Revenue +11.7% +15.3% +14.5% +6.6% −5.3% −12.8% +7.2% −0.1% +31.0% +2.5% −17.7% +15.8% +16.3% −0.4% +0.2% +5.1% +14.2%
EBITDA +16.6% +12.0% +15.0% +2.6% −22.4% −34.4% +1.6% +15.3% −6.3% +15.6% −74.5% +326.9% +15.4% −1.2% −3.0% −56.0% +259.1%
Operating income +18.3% +13.5% +15.9% +0.8% −26.5% −44.8% +5.7% +20.5% −14.7% +22.0% −167.2% — +21.5% −0.3% −2.8% −63.6% +361.3%
Net income +17.9% +19.8% +18.0% −0.4% −24.5% −48.5% +14.4% +28.3% −32.7% +61.9% −201.4% — +2.6% +9.3% −12.8% −77.5% +733.9%
Diluted EPS +22.0% +25.3% +20.9% +2.3% −22.7% −48.0% +13.8% +26.7% −34.0% +60.1% −205.9% — +7.5% +22.4% −9.8% −76.6% +786.6%
Margins
Gross margin 73.0% 72.7% 72.8% 72.9% 68.6% 69.4% 67.9% 68.6% 65.5% 67.3% 65.3% 71.0% 69.6% 70.8% 73.3% 75.4% 77.8%
EBITDA margin 35.4% 34.4% 34.5% 33.2% 27.2% 20.5% 19.4% 22.4% 16.0% 18.1% 5.6% 20.7% 20.5% 20.3% 19.7% 8.2% 25.9%
Operating margin 31.9% 31.4% 31.7% 30.0% 23.3% 14.7% 14.5% 17.5% 11.4% 13.6% −11.1% 16.8% 17.6% 17.6% 17.1% 5.9% 23.9%
Net margin 20.4% 21.2% 21.8% 20.4% 16.3% 9.6% 10.3% 13.2% 6.8% 10.7% −13.1% 14.5% 12.8% 14.1% 12.2% 2.6% 19.1%
Free-cash-flow margin 25.2% 21.3% 21.8% 23.1% 15.9% 17.6% 8.1% 12.7% 12.4% 8.6% 4.1% 21.0% 11.4% 11.9% 17.2% 15.6% 22.6%
Cash flow
Cash from operations 991 1,033 1,222 1,414 985 937 759 854 998 792 407 1,324 853 975 1,256 1,217 1,979
Capital spending 81 148 184 241 220 199 396 283 267 274 205 116 94 184 109 123 166
Free cash flow 910 886 1,037 1,173 766 738 362 571 730 518 202 1,208 759 791 1,147 1,094 1,813
Stock-based pay 81 96 108 121 95 89 87 74 81 85 53 64 72 79 86 87 105
Free cash flow after stock pay 828 790 930 1,052 671 649 275 497 649 433 149 1,144 687 712 1,061 1,007 1,708
Balance sheet
Cash 596 700 917 1,063 592 1,292 859 2,673 1,243 969 1,426 2,008 790 726 6,142 1,100 975
Total debt 25 24 23 1 141 900 885 1,600 1,618 1,618 2,312 1,600 1,700 1,669 7,307 2,413 2,397
Net debt (negative = net cash) −572 −676 −894 −1,062 −451 −392 26 −1,073 375 648 885 −408 910 943 1,165 1,313 1,422
Diluted shares 316m 302m 294m 286m 280m 277m 279m 283m 289m 291m 279m 283m 270m 241m 233m 223m 210m
Returned to shareholders
Dividends 94 178 260 340 377 372 375 378 384 391 380 0 264 283 321 299 326
Buybacks 1,150 1,098 700 400 525 0 0 0 0 100 300 0 1,600 704 0 1,719 1,555
Total returned 1,244 1,276 960 740 901 372 375 378 384 491 680 0 1,864 987 321 2,018 1,881

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 7 checks passed · June 27, 2026
What it owns · $6.7bn
Short-term assets $2.9bnLonger-term assets $3.8bn
What it owes, and who funded it · $6.7bn
Short-term liabilities $1.6bnLonger-term liabilities $4.4bnShareholders' equity $692m
  • Short-term assets cover short-term liabilities $2.9bn of assets due within a year against $1.6bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.9bn short-term assets against $4.4bn of longer-dated liabilities.
  • More cash than debt $975m of cash against $2.4bn of debt.
  • Debt below 40% of shareholders' equity Debt is 346% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 41% to 346% over five years.
  • A year's operating cash flow covers at least 20% of debt $2.0bn of operating cash flow against $2.4bn of debt.
  • Operating profit covers interest at least five times over Operating income of $1.9bn against $119m of interest.

From Tapestry, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q4 TTM
Buybacks (TTM)
$1.6B
Dividends (TTM)
$326M
Returned to shareholders
104%
of free cash flow
Buybacks, last 3 fiscal years
$3.3B
Diluted share count
−5.5%
year over year
Total shareholder yield
7.8%
dividends 1.4% + buybacks 6.4% of market value
Dividend payout ratio
21%
of net income paid out
Sales & admin spending
53.9%
of revenue
Days sales outstanding
11 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in apparel, accessories & luxury goods
Last 12 months unless stated TPR RL PVH VFC LEVI LULU Median
Revenue, last 12 months $8.0bn $8.4bn $8.9bn $9.4bn $6.7bn $11.1bn $1.5bn
Revenue growth, last 12 months 14.2% 14.7% 1.6% −1.4% 6.6% 1.7% 1.6%
Revenue growth, 3-year average 6.3% 9.0% −0.8% −4.4% 2.9% 7.9% −1.5%
Revenue growth, latest quarter 8.9% 14.0% −3.2% −3.8% 4.3% −4.3% 1.1%
Gross margin 77.8% 70.3% 58.8% 55.9% 62.8% 56.1% 52.5%
Operating margin 23.9% 14.9% 4.1% 6.8% 11.3% 17.8% 4.4%
Operating margin, 3-year average 15.6% 13.5% 5.7% 2.5% 8.6% 21.0% 2.5%
Net margin 19.1% 11.8% −1.9% 3.9% 8.8% 12.8% 3.9%
Cash from operations / revenue 24.7% 15.8% 9.8% 8.8% 12.8% 17.9% 9.2%
Free-cash-flow margin 22.6% 12.9% 8.0% 7.3% 9.6% 12.2% 7.5%
Free-cash-flow margin, 3-year average 18.5% 12.4% 7.6% 5.7% 8.7% 13.3% 5.8%
Stock pay / revenue 1.3% 1.4% 0.5% 0.8% 1.1% 0.8% 0.9%
Change in share count −5.5% −2.3% −11.6% 1.1% −1.8% −4.3% 0.0%

Median of all 29 companies we cover in apparel, accessories & luxury goods. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

29 apparel, accessories & luxury goods companies
Measure Company Peer median Rank
Revenue growth Growth 14.2% 1.6% 6 of 29
Change in growth rate Growth +0.0pp +0.0pp 16 of 29
Gross margin Profitability 77.8% 52.5% 1 of 27
Operating margin Profitability 23.9% 4.5% 1 of 26
Net margin Profitability 19.1% 3.9% 1 of 29
Free-cash-flow margin Cash generation 22.6% 7.6% 1 of 28
Stock pay as % of revenue Cash generation 1.3% 1.0% 19 of 26
Long-term debt as % of assets Balance sheet 35.8% 15.1% 21 of 22
Change in share count Balance sheet -5.5% 0.0% 4 of 25
Days sales outstanding Balance sheet 11 days 38 days 3 of 24

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 27, 2026
Segments
Line of business Revenue Share YoY
Coach $6.9B 86.2% ▲ 23.5%
Kate Spade Company $1.1B 13.4% ▼ 10.2%
Stuart Weitzman $14.6M 0.2% ▼ 93.2%
Stuart Weitzman $14.6M 0.2% ▼ 93.2%
Products and services
Line of business Revenue Share YoY
Handbags $4.6B 57.6% ▲ 19.9%
Accessories $2.2B 27.9% ▲ 23.4%
Other $689M 8.6% ▼ 7.2%
Footwear $471M 5.9% ▼ 23.1%
Geography
Region Revenue YoY
North America $5B ▲ 11.7%
United States $4.7B ▲ 11.6%
Other Countries $1.4B ▲ 17.4%
Greater China $1.4B ▲ 32.0%
China $1.4B ▲ 32.0%
Other Asia $907M ▲ 1.4%
Outside the US $655M ▲ 21.4%
Japan $466M ▼ 9.5%

These categories overlap or exclude eliminations, so shares aren't shown.

From Tapestry, Inc.'s 10-K filed August 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$29.1B
Institutions reporting
1,094
Shares held vs prior quarter
▲ 4.4%
Positions opened / closed
115 / 101

Top buyers and sellers, Q2 2026: 573 institutions bought and 479 sold ; the biggest buyer was Boston Partners (+3.6M shares) and the biggest seller Geode Capital Management, LLC (−1.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $2.6B 17.8M 9.0% ▼ 2.8%
Vanguard Capital Management LLC $1.9B 13.2M 6.6% ▲ 0.3%
State Street Corp $1.5B 10.1M 5.1% ▲ 7.0%
Vanguard Portfolio Management LLC $1.5B 9.9M 5.0% ▼ 2.0%
Schroder Investment Management Group $1.1B 7.4M 3.7% ▲ 4.9%
Geode Capital Management, LLC $963M 6.6M 3.3% ▼ 18.6%
Bank Of America Corp $771M 5.3M 2.7% ▲ 4.5%
FMR LLC $604M 4.1M 2.1% ▼ 19.1%
SRS Investment Management, LLC $595M 4.1M 2.0% ▼ 19.6%
AQR Capital Management LLC $564M 3.9M 1.9% ▲ 3.4%
Ameriprise Financial Inc $548M 3.7M 1.9% ▼ 3.9%
Boston Partners $518M 3.6M 1.8% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Tapestry, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $48.4M 33 trades by 8 insiders · 31% under pre-set plans
Net ▼ $48.4M net selling
Insider Date Trade Shares Price Value
Kulikowsky Denise Chief People Officer September 9, 2026 Sell 2,191 $115.40 $252,841
Kulikowsky Denise Chief People Officer September 9, 2026 Sell 3,619 $115.36 $417,488
Crevoiserat Joanne C. Chief Executive Officer August 19, 2026 Sell pre-set plan 14,720 $132.47 $1.9M
Crevoiserat Joanne C. Chief Executive Officer August 19, 2026 Sell pre-set plan 13,041 $132.47 $1.7M
Kahn Todd CEO and Brand President, Coach May 26, 2026 Sell 19,557 $140.02 $2.7M
Crevoiserat Joanne C. Chief Executive Officer May 13, 2026 Sell pre-set plan 13,047 $132.90 $1.7M
Crevoiserat Joanne C. Chief Executive Officer May 13, 2026 Sell pre-set plan 14,729 $132.88 $2M
Dadlani Manesh VP, Controller and PAO March 3, 2026 Sell 975 $156.05 $152,149
Crevoiserat Joanne C. Chief Executive Officer February 18, 2026 Sell pre-set plan 13,300 $154.79 $2.1M
Crevoiserat Joanne C. Chief Executive Officer February 18, 2026 Sell pre-set plan 15,123 $154.78 $2.3M
Crevoiserat Joanne C. Chief Executive Officer February 18, 2026 Sell pre-set plan 20,372 $154.99 $3.2M
Greco Thomas Director February 17, 2026 Sell 5,276 $154.44 $814,825

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 19 trades and filings

In the last 12 months, 2 members of Congress disclosed 0 purchases and 2 sales of Tapestry, Inc. shares.

  • Matt Van Epps(R-TN 7):Sale (full), $15,001 - $50,000, traded June 16, 2026, filed June 17, 2026
  • Terri A. Sewell(D-AL 7):Sale (full), $15,001 - $50,000, traded March 25, 2026, filed April 21, 2026
  • Julia Letlow(R-LA 5):Sale (full), $1,001 - $15,000, traded July 29, 2025, filed January 13, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 13, 2026
  • May 7, 2026
  • February 5, 2026
  • November 6, 2025
  • August 14, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Tapestry, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Tapestry, Inc. in brief

What does Tapestry, Inc. do?
Tapestry, Inc. is a US-listed company in the apparel, accessories & luxury goods industry. Its financial year ends in June.
What is Tapestry, Inc.'s stock ticker?
Tapestry, Inc. trades under the ticker TPR on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Tapestry, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Tapestry, Inc. reported revenue of $8B, 14.2% higher than a year earlier, according to its SEC filings.
What is Tapestry, Inc.'s free cash flow?
Tapestry, Inc.'s free-cash-flow margin is 22.6% of revenue over the trailing twelve months, ranking 1 of the 28 apparel, accessories & luxury goods companies we cover.
What is Tapestry, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Tapestry, Inc.'s free cash flow after stock-based pay gives ~$200 per share in the base case, and ~$150–$260 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Tapestry, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Tapestry, Inc. buying back stock, and does it pay a dividend?
Tapestry, Inc. spent $1.6B on share repurchases over the trailing twelve months, and its diluted share count fell 5.5% over the year.
What is Tapestry, Inc.'s market cap?
On June 26, 2026, Tapestry, Inc.'s market capitalisation was about $30.6B, with a price-to-earnings ratio of 20.0 and net debt of $1.4B. Market figures come from third-party market data and may be delayed.
Does Tapestry, Inc. pay a dividend?
Yes: Tapestry, Inc. paid $326M in dividends over the trailing twelve months, a dividend yield of 1.35% and a payout ratio of 21.3%.
How much debt does Tapestry, Inc. have?
Tapestry, Inc.'s debt-to-equity ratio is 346.3%, from its latest balance sheet (41.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Tapestry, Inc.'s competitors?
In our Apparel, Accessories & Luxury Goods peer group, the companies closest to Tapestry, Inc. are Ralph Lauren Corporation, PVH Corp., VF Corporation, Levi Strauss & Co and Lululemon Athletica. The side-by-side comparison below sets their revenue, margins and growth against Tapestry, Inc.'s.
Are insiders buying or selling Tapestry, Inc. stock?
Over the last 12 months, Tapestry, Inc.'s directors and officers reported 0 open-market purchases and 33 sales on Form 4. The insider trading page charts every trade.
When is Tapestry, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Tapestry, Inc. announces its own schedule.