Tapestry Valuation

Q: What is the Fair Price of TPRY34 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

TPRY34 (R$272.43) is trading below our estimate of [[fair value]] (R$293.81)

Is TPRY34 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TPRY34 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TPRY34 (R$272.43) is trading below our estimate of fair value (R$293.81)

Significantly Below Fair Value: TPRY34 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TPRY34?

Key metric: As TPRY34 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TPRY34. This is calculated by dividing TPRY34's market cap by their current earnings.
What is TPRY34's PE Ratio?
PE Ratio	17.6x
Earnings	US$807.60m
Market Cap	US$13.73b

TPRY34 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.3x
Enterprise Value/EBITDA	10.6x
PEG Ratio	2.2x

Price to Earnings Ratio vs Peers

How does TPRY34's PE Ratio compare to its peers?

The above table shows the PE ratio for TPRY34 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	13x
AZZA3 Azzas 2154	16.2x	24.7%	R$8.4b
VIVA3 Vivara Participações	11.4x	12.6%	R$5.6b
GUAR3 Guararapes Confecções	19x	40.7%	R$4.1b
TECN3 Technos	5.5x	n/a	R$363.4m
TPRY34 Tapestry	17.6x	8.1%	R$13.7b

Price-To-Earnings vs Peers: TPRY34 is expensive based on its Price-To-Earnings Ratio (17.6x) compared to the peer average (13x).

Price to Earnings Ratio vs Industry

How does TPRY34's PE Ratio compare vs other companies in the Global Luxury Industry?

51 Companies	Price / Earnings	Estimated Growth	Market Cap

51 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: TPRY34 is good value based on its Price-To-Earnings Ratio (17.6x) compared to the Global Luxury industry average (19x).

Price to Earnings Ratio vs Fair Ratio

What is TPRY34's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TPRY34 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	17.6x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate TPRY34's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.