Tapestry, Inc.TPR
NYSE•Consumer Cyclical•Luxury Goods
Tapestry, Inc. provides accessories and lifestyle brand products in North America, Greater China, rest of Asia, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags, fashion designs, business cases, computer bags, messenger style bags, backpacks, travel bags, and totes; and accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories, including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, technology accessories, gifting, straps, and charms. The company also provides women's and men's footwear, which casual and dress shoes, boots, sneakers, and sandals; and other products which includes outerwear, ready-to-wear, jewelry, watches, eyewear, fragrance, scarves, hats, gloves, and other products. It offers its products through retail and outlet stores, brand e-commerce sites, and concession shop-in-shops under the Coach, Kate Spade, and Stuart Weitzman brand names. The company was formerly known as Coach, Inc. and changed its name to Tapestry, Inc. in October 2017. Tapestry, Inc. was founded in 1941 and is headquartered in New York, New York.
Tapestry, Inc. (TPR) reported trailing twelve months revenue of $7.85B as of March 2026, a 14.1% increase year-over-year. Quarterly revenue reached $1.92B, reflecting continued top-line momentum.
Tapestry, Inc. generated $662.80M in TTM net income, with quarterly EBITDA of $469.00M. The operating margin expanded from 16.0% to 22.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (22.3%) and net margin (17.9%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 12.8% a year ago, signaling stronger bottom-line efficiency.
TPR trades at a P/E of 42.4x (a premium multiple) and a P/S of 3.6x. The price-to-book ratio of 41.2x indicates a significant premium over book value.
The company generated $225.80M in free cash flow over the trailing twelve months, a 99.1% increase year-over-year, indicating cash generation ability. The balance sheet shows $6.47B in total assets with $2.40B in long-term debt against $682.40M in stockholders equity for a debt-to-equity ratio of 3.5, a relatively leveraged position. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 13.3%. The business may lack pricing power or face rising costs.'
Consistently high ROE averaging 56.7% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~17.7% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 48.1% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF consistently trails net income (avg 0.7x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 3.5 — dangerously high. The company is heavily leveraged and vulnerable to rising rates or cash flow dips.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 11.8% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation