Tapestry
Market Cap
US$3.6b
Last Updated
2020/03/31 00:14 UTC
Data Sources
Company Financials +
Executive Summary
Tapestry, Inc. provides luxury accessories and branded lifestyle products in the United States, Japan, China, Hong Kong, Macau, Europe, Canada, Taiwan, South Korea, Malaysia, Australia, New Zealand, and Singapore.
Rewards
Risk Analysis
Snowflake Analysis
6 star dividend payer and undervalued.
Similar Companies
Share Price & News
How has Tapestry's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: TPR's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-3.7%
TPR
13.7%
US Luxury
7.2%
US Market
1 Year Return
-60.3%
TPR
-18.7%
US Luxury
-10.4%
US Market
Return vs Industry: TPR underperformed the US Luxury industry which returned -18.7% over the past year.
Return vs Market: TPR underperformed the US Market which returned -10.4% over the past year.
Shareholder returns
| TPR | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.7% | 13.7% | 7.2% |
| 30 Day | -43.7% | -14.5% | -12.6% |
| 90 Day | -51.0% | -27.8% | -19.4% |
| 1 Year | -58.0%-60.3% | -17.1%-18.7% | -8.5%-10.4% |
| 3 Year | -62.4%-66.6% | 28.7%22.6% | 15.8%8.3% |
| 5 Year | -62.2%-68.8% | 10.0%2.4% | 35.8%21.0% |
Price Volatility Vs. Market
How volatile is Tapestry's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
How Does Tapestry's (NYSE:TPR) P/E Compare To Its Industry, After The Share Price Drop?1 month ago | Simply Wall St
It Might Be Better To Avoid Tapestry, Inc.'s (NYSE:TPR) Upcoming Dividend1 month ago | Simply Wall St
What Can We Learn From Tapestry, Inc.’s (NYSE:TPR) Investment Returns?Valuation
Is Tapestry undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: TPR ($13.21) is trading below our estimate of fair value ($46.79)
Significantly Below Fair Value: TPR is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: TPR is good value based on its PE Ratio (6.4x) compared to the Luxury industry average (10.9x).
PE vs Market: TPR is good value based on its PE Ratio (6.4x) compared to the US market (13.1x).
Price to Earnings Growth Ratio
PEG Ratio: TPR is good value based on its PEG Ratio (0.5x)
Price to Book Ratio
PB vs Industry: TPR is overvalued based on its PB Ratio (1.1x) compared to the US Luxury industry average (0.8x).
Next Steps
Future Growth
How is Tapestry forecast to perform in the next 1 to 3 years based on estimates from 27 analysts?
12.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TPR's forecast earnings growth (12.7% per year) is above the savings rate (1.7%).
Earnings vs Market: TPR's earnings (12.7% per year) are forecast to grow faster than the US market (12.2% per year).
High Growth Earnings: TPR's earnings are forecast to grow, but not significantly.
Revenue vs Market: TPR's revenue (4.7% per year) is forecast to grow slower than the US market (7.2% per year).
High Growth Revenue: TPR's revenue (4.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: TPR's Return on Equity is forecast to be high in 3 years time (22.2%)
Next Steps
Past Performance
How has Tapestry performed over the past 5 years?
7.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TPR has a large one-off loss of $164.0M impacting its December 28 2019 financial results.
Growing Profit Margin: TPR's current net profit margins (9.7%) are lower than last year (12.1%).
Past Earnings Growth Analysis
Earnings Trend: TPR's earnings have grown by 7.2% per year over the past 5 years.
Accelerating Growth: TPR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: TPR had negative earnings growth (-19.5%) over the past year, making it difficult to compare to the Luxury industry average (3.2%).
Return on Equity
High ROE: TPR's Return on Equity (17.6%) is considered low.
Next Steps
Financial Health
How is Tapestry's financial position?
Financial Position Analysis
Short Term Liabilities: TPR's short term assets ($2.5B) exceed its short term liabilities ($1.3B).
Long Term Liabilities: TPR's short term assets ($2.5B) do not cover its long term liabilities ($4.1B).
Debt to Equity History and Analysis
Debt Level: TPR's debt to equity ratio (48.1%) is considered high.
Reducing Debt: TPR's debt to equity ratio has increased from 1.6% to 48.1% over the past 5 years.
Debt Coverage: TPR's debt is well covered by operating cash flow (47.2%).
Interest Coverage: TPR's interest payments on its debt are well covered by EBIT (17.8x coverage).
Balance Sheet
Inventory Level: TPR has a high level of physical assets or inventory.
Debt Coverage by Assets: TPR's debt is covered by short term assets (assets are 1.6x debt).
Next Steps
Dividend
What is Tapestry's current dividend yield, its reliability and sustainability?
10.22%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: TPR's dividend (10.22%) is higher than the bottom 25% of dividend payers in the US market (1.95%).
High Dividend: TPR's dividend (10.22%) is in the top 25% of dividend payers in the US market (5.4%)
Stability and Growth of Payments
Stable Dividend: TPR's dividends per share have been stable in the past 10 years.
Growing Dividend: TPR's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (65.8%), TPR's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: TPR's dividends in 3 years are forecast to be covered by earnings (58.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.3yrs
Average management tenure
CEO
Jide Zeitlin (55yo)
0.42
Tenure
US$410,039
Compensation
Mr. Jide J. Zeitlin is the Founder of The Keffi Group. Mr. Zeitlin serves as a Treasurer of Teach For America, Inc., Milton Academy and Common Ground Community. Mr. Zeitlin founded Independent Mobile Infra ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Chairman of the Board | 0.42yr | US$410.04k | 0.043% $1.6m | |
| President | 3.83yrs | US$2.98m | 0.024% $872.2k | |
| Global Head of Investor Relations & Corporate Communications | no data | US$1.44m | 0.016% $580.5k | |
| Executive Officer | 2.67yrs | US$4.53m | 0.0040% $146.2k | |
| Chief Financial Officer | 0.58yr | no data | no data | |
| Chief Operations Officer | 0.67yr | no data | no data | |
| Chief Information Officer | no data | no data | no data | |
| Global Human Resources Officer | 5.83yrs | US$1.83m | 0.023% $820.8k | |
| Global Head of Creative Studio& VP | 4.42yrs | no data | no data | |
| Senior Vice President of Global Public Relations and Communications | 4yrs | no data | no data |
3.3yrs
Average Tenure
55yo
Average Age
Experienced Management: TPR's management team is considered experienced (3.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Chairman of the Board | 0.42yr | US$410.04k | 0.043% $1.6m | |
| Lead Independent Director | 0.42yr | US$270.04k | 0.0091% $330.4k | |
| Director Emeritus | 1.25yrs | US$54.54k | 0.0032% $114.9k | |
| Independent Non Executive Director | 15yrs | US$240.04k | 0.018% $644.7k | |
| Outside Director | 1.67yrs | US$390.16k | 0.0033% $120.7k | |
| Outside Director | 2.25yrs | US$240.04k | 0.00070% $25.5k | |
| Independent Director | 5.83yrs | US$270.04k | 0.0093% $339.5k | |
| Independent Director | 4.17yrs | US$90.00k | no data |
3.2yrs
Average Tenure
55yo
Average Age
Experienced Board: TPR's board of directors are considered experienced (3.2 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Tapestry, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Tapestry, Inc.
- Ticker: TPR
- Exchange: NYSE
- Founded: 1941
- Industry: Apparel, Accessories and Luxury Goods
- Sector: Consumer Durables
- Market Cap: US$3.646b
- Shares outstanding: 276.03m
- Website: https://www.tapestry.com
Number of Employees
Location
- Tapestry, Inc.
- 10 Hudson Yards
- New York
- New York
- 10001
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| TPR | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Oct 2000 |
| COY | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Oct 2000 |
| 0LD5 | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Oct 2000 |
| COY | BRSE (Berne Stock Exchange) | Yes | Common Stock | CH | CHF | Oct 2000 |
| 6388 | SEHK (The Stock Exchange of Hong Kong Ltd.) | HDR USD0.01 | HK | HKD | Dec 2017 | |
| TPRY34 | BOVESPA (Bolsa de Valores de Sao Paulo) | BDR EACH 1 REP 1 COM USD0.01 | BR | BRL | May 2019 |
Biography
Tapestry, Inc. provides luxury accessories and branded lifestyle products in the United States, Japan, China, Hong Kong, Macau, Europe, Canada, Taiwan, South Korea, Malaysia, Australia, New Zealand, and Singapore. The company operates through three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management accessories, travel accessories, sketchbooks, and portfolios; key rings; and charms. The company also provides bag collections, including business cases, computer bags, messenger-style bags, backpacks, and totes; small leather goods, such as wallets, card cases, travel organizers, and belts; and footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men. In addition, it offers women's footwear; sunglasses; bracelets, necklaces, rings, and earrings; fragrances and watches; various women's seasonal lifestyle apparel collections that include outerwear; and ready-to-wear and cold weather accessories, which comprise gloves, scarves, and hats. Further, the company provides kids ready-to-wear items; fashion bedding and tableware; and stationery and gifts. Additionally, it licenses rights to market and distribute its eyewear, watches, and fragrances under the Coach brand; and fashion beddings, eyewear, footwear, tableware, stationery and gifts, tech accessories, and watches under the Kate Spade brand. The company sells its products to consumers through a network of Coach, Kate Spade, and Stuart Weitzman operated stores, including the Internet and concession shop-in-shops; and wholesale customers, as well as through independent third party distributors. As of June 29, 2019, it operated 1,540 stores. 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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/03/31 00:14 |
| End of Day Share Price | 2020/03/30 00:00 |
| Earnings | 2019/12/28 |
| Annual Earnings | 2019/06/29 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.