Explain this page
Arphra AIPlain-English read on Tapestry, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Headline | ||||||||
| Market cap | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — |
| Multiples | ||||||||
| P / E | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — |
| Yields | ||||||||
| Earnings yield | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin | +71.04% | +69.57% | +70.78% | +73.29% | +75.44% | +75.27% | +71.79% | +72.36% |
| Operating margin | +16.85% | +17.59% | +17.60% | +17.09% | +5.92% | +13.89% | +13.84% | +13.66% |
| EBITDA margin | +20.66% | +19.62% | +20.94% | +20.47% | +7.51% | +16.52% | +16.30% | +16.03% |
| EBIT margin | +16.86% | +16.54% | +17.58% | +17.04% | +4.30% | +13.05% | +12.95% | +12.80% |
| Pre-tax margin | +15.62% | +15.66% | +17.16% | +15.17% | +3.08% | +11.81% | +11.97% | +11.78% |
| Net margin | +14.52% | +12.81% | +14.05% | +12.23% | +2.61% | +9.64% | +9.83% | +9.83% |
| Cost structure | ||||||||
| Cost of revenue / sales | +28.96% | +30.43% | +29.22% | +26.71% | +24.56% | +26.65% | +26.72% | +26.06% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +54.19% | +51.98% | +53.18% | +56.20% | +57.33% | +55.80% | +54.38% | +56.77% |
| Effective tax rate | +7.03% | +18.21% | +18.12% | +19.36% | +15.22% | +17.31% | +17.55% | +17.12% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||
| Return on equity (ROE) | +25.59% | +37.47% | +41.09% | +28.17% | +21.36% | +32.04% | +33.14% | +32.50% |
| Return on assets (ROA) | +9.95% | +11.79% | +13.15% | +6.09% | +2.78% | +7.16% | +7.37% | +7.53% |
| Return on capital (ROC) | +14.46% | +21.20% | +21.05% | +9.78% | +8.72% | +12.84% | +12.69% | +12.76% |
| Return on invested capital (ROIC) | +12.46% | +15.44% | +16.80% | +7.00% | +3.85% | +8.91% | +9.01% | +9.19% |
| Asset turnover | +68.55% | +92.01% | +93.59% | +49.80% | +106.54% | +74.28% | +75.02% | +76.52% |
| DuPont · ROE decomposition | ||||||||
| Net margin | +14.52% | +12.81% | +14.05% | +12.23% | +2.61% | +9.64% | +9.83% | +9.83% |
| Asset turnover (× revenue / assets) | +68.55% | +92.01% | +93.59% | +49.80% | +106.54% | +74.28% | +75.02% | +76.52% |
| Equity multiplier (× assets / equity) | +257.18% | +317.89% | +312.44% | +462.44% | +767.14% | +447.55% | +449.47% | +431.82% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Turnover | ||||||||
| Asset turnover | 0.69 | 0.92 | 0.94 | 0.50 | 1.07 | 0.74 | 0.75 | 0.77 |
| Fixed-asset turnover | 2.64 | 3.66 | 3.43 | 3.65 | 3.85 | — | — | — |
| Inventory turnover | 2.27 | 2.05 | 2.12 | 2.16 | 2.00 | — | — | — |
| Receivables turnover | 12.63 | 14.24 | 15.05 | 14.37 | 13.57 | — | — | — |
| Payables turnover | 3.74 | 3.91 | 4.67 | 3.94 | 3.78 | — | — | — |
| Days outstanding | ||||||||
| Days sales outstanding (DSO) | 28.89 | 25.64 | 24.25 | 25.41 | 26.90 | — | — | — |
| Days inventory outstanding (DIO) | 161.14 | 178.40 | 172.47 | 168.97 | 182.46 | — | — | — |
| Days payables outstanding (DPO) | 97.63 | 93.43 | 78.20 | 92.64 | 96.69 | — | — | — |
| Cash conversion cycle | 92.40 | 110.60 | 118.52 | 101.74 | 112.67 | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.59 | 1.00 | 1.04 | 1.54 | 6.64 | 1.79 | 1.78 | 1.68 |
| FCF / Net income | 1.45 | 0.89 | 0.85 | 1.41 | 5.97 | 1.57 | 1.53 | 1.54 |
| FCF margin | +21.02% | +11.36% | +11.88% | +17.19% | +15.60% | +15.17% | +15.06% | +15.18% |
| OCF margin | +23.04% | +12.76% | +14.64% | +18.82% | +17.35% | +17.30% | +17.45% | +16.50% |
| CapEx / Revenue | +2.02% | +1.40% | +2.77% | +1.63% | +1.75% | +2.08% | +2.05% | +2.03% |
| CapEx / D&A | 0.53 | 0.46 | 0.82 | 0.48 | 0.55 | — | — | — |
| Stock-based comp / Revenue | +1.12% | +1.08% | +1.18% | +1.29% | +1.25% | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 2.95 | 3.17 | 3.88 | 3.50 | 0.82 | 6.97 | 7.79 | 8.65 |
| EPS · basic | 3.00 | 3.24 | 3.96 | 3.56 | 0.85 | 7.19 | 7.99 | 8.91 |
| Book value / share | 11.52 | 8.46 | 9.44 | 12.42 | 3.86 | 10.74 | 11.27 | 12.07 |
| Tangible BV / share | 2.08 | -1.19 | -1.28 | 1.45 | -3.80 | 10.74 | 11.27 | 12.07 |
| Sales / share | 20.30 | 24.75 | 27.60 | 28.61 | 31.51 | 35.71 | 38.02 | 39.89 |
| Operating CF / share | 4.68 | 3.16 | 4.04 | 5.38 | 5.47 | 6.18 | 6.63 | 6.58 |
| Free cash flow / share | 4.27 | 2.81 | 3.28 | 4.92 | 4.92 | 5.42 | 5.72 | 6.05 |
| Dividends / share | 0.00 | 0.98 | 1.17 | 1.38 | 1.35 | 1.54 | 1.65 | 1.77 |
| Payout ratio | 0.00% | +30.88% | +30.27% | +39.39% | +163.37% | +44.80% | +44.19% | +45.24% |
| Retention ratio | +100.00% | +69.12% | +69.73% | +60.61% | -63.37% | +55.20% | +55.81% | +54.76% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 7y CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Top-line | |||||||||
| Revenue · YoY | — | +16.33% | -0.35% | +0.15% | +5.09% | +13.81% | +5.78% | +5.59% | +6.47% |
| Gross profit · YoY | — | +13.93% | +1.39% | +3.70% | +8.17% | +13.54% | +0.89% | +6.43% | +6.75% |
| Profit | |||||||||
| Operating income · YoY | — | +21.47% | -0.29% | -2.76% | -63.60% | +167.13% | +5.33% | +4.25% | +3.33% |
| EBITDA · YoY | — | +10.47% | +6.34% | -2.08% | -61.46% | +150.42% | +4.35% | +3.83% | +2.67% |
| Net income · YoY | — | +2.65% | +9.31% | -12.82% | -77.55% | +319.78% | +7.84% | +5.67% | +0.71% |
| Operating | |||||||||
| EBIT · YoY | — | +14.14% | +5.88% | -2.89% | -73.48% | +245.45% | +4.90% | +4.37% | +2.36% |
| R&D · YoY | — | — | — | — | — | — | — | — | — |
| Per-share | |||||||||
| EPS · diluted · YoY | — | +7.46% | +22.40% | -9.79% | -76.57% | +750.29% | +11.68% | +11.09% | +16.61% |
| EPS · basic · YoY | — | +8.00% | +22.22% | -10.10% | -76.12% | +746.27% | +11.02% | +11.62% | +16.83% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Leverage | ||||||||
| Total debt | $3.44B | $3.26B | $3.29B | $8.76B | $3.9B | $6.23B | $6.7B | $6.84B |
| Net debt | $1.43B | $2.47B | $2.57B | $2.62B | $2.8B | $3.08B | $3.34B | $3.4B |
| Net debt / EBITDA | 1.20 | 1.88 | 1.84 | 1.92 | 5.32 | 2.33 | 2.43 | 2.38 |
| Debt / equity | 1.05 | 1.43 | 1.45 | 3.03 | 4.55 | 2.60 | 2.68 | 2.54 |
| Debt / assets | +40.99% | +44.89% | +46.26% | +65.42% | +59.25% | +58.01% | +59.55% | +58.73% |
| Equity / assets | +38.88% | +31.46% | +32.01% | +21.62% | +13.04% | +22.34% | +22.25% | +23.16% |
| Coverage | ||||||||
| EBITDA / interest expense | 16.63 | 22.35 | 50.54 | 10.93 | 6.16 | 13.87 | 14.24 | 13.71 |
| Operating income / interest | 13.56 | 20.03 | 42.48 | 9.12 | 4.86 | 11.67 | 12.09 | 11.68 |
| Interest expense | $71.4M | $58.7M | $27.6M | $125M | $85.4M | $95.03M | $96.59M | $104.17M |
| Liquidity | ||||||||
| Current ratio | 2.37 | 1.75 | 1.84 | 5.14 | 1.87 | — | — | — |
| Quick ratio | 1.73 | 0.97 | 0.92 | 4.48 | 1.05 | — | — | — |
| Cash ratio | 1.41 | 0.54 | 0.56 | 3.59 | 0.71 | — | — | — |
| Working capital | $1.95B | $1.11B | $1.08B | $7.09B | $1.35B | — | — | — |
| Working capital / revenue | +33.93% | +16.53% | +16.17% | +106.31% | +19.24% | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).