Tapestry
TPR · NYSELeather & Leather Products · Fiscal year ends Jun 27
Tapestry reported revenue of $8B in the fiscal year ended Jun 2026, up 14.2% from the year before. Operating income was $1.9B, an operating margin of 23.9%, and net income was $1.5B. Operating cash flow of $2B less capital expenditure of $166M left free cash flow of $1.8B. Net debt was $1.4B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jul 2022 | Jul 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | $6.7B | $6.7B | $6.7B | $7B | $8B |
| Cost of revenue | $2B | $1.9B | $1.8B | $1.7B | $1.8B |
| Gross profit | $4.7B | $4.7B | $4.9B | $5.3B | $6.2B |
| Selling, general & admin | $3.5B | $3.5B | $3.7B | $4B | $4.3B |
| Operating income | $1.2B | $1.2B | $1.1B | $415M | $1.9B |
| Net interest incomeBanks | −$59M | −$28M | −$125M | −$85M | −$55M |
| Interest expense | $69M | $73M | $370M | $271M | $119M |
| Pre-tax income | $1B | $1.1B | $1B | $216M | $1.9B |
| Income tax | $191M | $207M | $196M | $33M | $333M |
| Net income | $856M | $936M | $816M | $183M | $1.5B |
| Diluted EPS | 3.17 | 3.88 | 3.50 | 0.82 | 7.27 |
| Diluted shares | 270M | 241M | 233M | 223M | 210M |
Balance sheet
| Fiscal year | Jul 2022 | Jul 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $790M | $726M | $6.1B | $1.1B | $975M |
| Receivables | $252M | $212M | $228M | $239M | $237M |
| Inventory | $994M | $920M | $825M | $861M | $826M |
| Current assets | $2.6B | $2.4B | $8.8B | $2.9B | $2.9B |
| Goodwill | $1.2B | $1.2B | $1.2B | $983M | $958M |
| Total assets | $7.3B | $7.1B | $13.4B | $6.6B | $6.7B |
| Payables | $521M | $417M | $452M | $456M | $582M |
| Deferred revenue | $42M | $43M | $46M | $38M | $35M |
| Current liabilities | $1.5B | $1.3B | $1.7B | $1.6B | $1.6B |
| Short-term debt | $31M | $25M | $303M | $17M | $0 |
| Long-term debt | $1.7B | $1.6B | $7B | $2.4B | $2.4B |
| Total liabilities | $5B | $4.8B | $10.5B | $5.7B | $6B |
| Shareholders' equity | $2.3B | $2.3B | $2.9B | $858M | $692M |
Cash flow
| Fiscal year | Jul 2022 | Jul 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $853M | $975M | $1.3B | $1.2B | $2B |
| Capital expenditure | $94M | $184M | $109M | $123M | $166M |
| Free cash flow | $759M | $791M | $1.1B | $1.1B | $1.8B |
| Depreciation & amortisation | $195M | $182M | $174M | $163M | $161M |
| Stock-based compensation | $72M | $79M | $86M | $87M | $105M |
| Share buybacks | $1.6B | $704M | $0 | $1.7B | $1.6B |
| Dividends paid | $264M | $283M | $321M | $299M | $326M |
| Dividend per share | 1.00 | 1.20 | 1.40 | 1.40 | 1.60 |
Key ratios
| Fiscal year | Jul 2022 | Jul 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −0.4% | 0.2% | 5.1% | 14.2% |
| Operating income growth (YoY) | – | −0.3% | −2.8% | −63.6% | 361.3% |
| EPS growth (YoY) | – | 22.4% | −9.8% | −76.6% | 786.6% |
| Gross margin | 69.6% | 70.8% | 73.3% | 75.4% | 77.8% |
| Operating margin | 17.6% | 17.6% | 17.1% | 5.9% | 23.9% |
| Net margin | 12.8% | 14.1% | 12.2% | 2.6% | 19.1% |
| Return on equityBlank when equity is negative | 37.5% | 41.1% | 28.2% | 21.4% | 220.7% |
| ROCEEBIT ÷ (assets − current liabilities) | 20.3% | 20.1% | 9.8% | 8.3% | 37.9% |
| Free cash flow margin | 11.4% | 11.9% | 17.2% | 15.6% | 22.6% |
| Cash conversion (CFO ÷ net income) | 1.00x | 1.04x | 1.54x | 6.64x | 1.30x |
| Receivable days | 14 | 12 | 12 | 12 | 11 |
| Inventory days | 178 | 172 | 169 | 182 | 170 |
| Payable days | 93 | 78 | 93 | 97 | 120 |
| Interest cover | 17.1x | 16.1x | 3.08x | 1.53x | 16.0x |
| Debt ÷ equity | 0.74x | 0.73x | 2.52x | 2.81x | 3.46x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $910M | $943M | $1.2B | $1.3B | $1.4B |
| Current ratio | 1.75x | 1.84x | 5.14x | 1.87x | 1.75x |
Recent filings
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.