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Tapestry

NYSE:TPR
Snowflake Description

6 star dividend payer and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TPR
NYSE
$9B
Market Cap
  1. Home
  2. US
  3. Consumer Durables
Company description

Tapestry, Inc. provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. The last earnings update was 39 days ago. More info.


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TPR Share Price and Events
7 Day Returns
-1%
NYSE:TPR
1%
US Luxury
0.3%
US Market
1 Year Returns
-36.8%
NYSE:TPR
-0.3%
US Luxury
0.7%
US Market
TPR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tapestry (TPR) -1% -3.6% -9.9% -36.8% -24.7% -12.8%
US Luxury 1% -1.5% -3.1% -0.3% 30.1% 44%
US Market 0.3% 0.4% 0.6% 0.7% 37.2% 37.4%
1 Year Return vs Industry and Market
  • TPR underperformed the Luxury industry which returned -0.3% over the past year.
  • TPR underperformed the Market in United States of America which returned 0.7% over the past year.
Price Volatility
TPR
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Tapestry undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Tapestry to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Tapestry.

NYSE:TPR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 30 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:TPR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.79
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.785 (1 + (1- 21%) (18.62%))
0.934
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.934 * 5.96%)
8.29%

Discounted Cash Flow Calculation for NYSE:TPR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tapestry is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:TPR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.29%)
2019 687.12 Analyst x9 634.50
2020 848.23 Analyst x9 723.28
2021 858.50 Analyst x2 675.97
2022 939.00 Analyst x1 682.73
2023 1,071.00 Analyst x1 719.07
2024 1,140.23 Est @ 6.46% 706.92
2025 1,201.16 Est @ 5.34% 687.66
2026 1,255.93 Est @ 4.56% 663.95
2027 1,306.30 Est @ 4.01% 637.69
2028 1,353.67 Est @ 3.63% 610.21
Present value of next 10 years cash flows $6,742.00
NYSE:TPR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $1,353.67 × (1 + 2.73%) ÷ (8.29% – 2.73%)
$24,994.35
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $24,994.35 ÷ (1 + 8.29%)10
$11,266.97
NYSE:TPR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $6,742.00 + $11,266.97
$18,008.96
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $18,008.96 / 290.14
$62.07
NYSE:TPR Discount to Share Price
Calculation Result
Value per share (USD) From above. $62.07
Current discount Discount to share price of $29.66
= -1 x ($29.66 - $62.07) / $62.07
52.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Tapestry is available for.
Intrinsic value
>50%
Share price is $29.66 vs Future cash flow value of $62.07
Current Discount Checks
For Tapestry to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tapestry's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tapestry's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Tapestry's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tapestry's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:TPR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-30) in USD $2.44
NYSE:TPR Share Price ** NYSE (2019-06-17) in USD $29.66
United States of America Luxury Industry PE Ratio Median Figure of 36 Publicly-Listed Luxury Companies 16.98x
United States of America Market PE Ratio Median Figure of 3,093 Publicly-Listed Companies 17.68x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Tapestry.

NYSE:TPR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:TPR Share Price ÷ EPS (both in USD)

= 29.66 ÷ 2.44

12.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tapestry is good value based on earnings compared to the US Luxury industry average.
  • Tapestry is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Tapestry's expected growth come at a high price?
Raw Data
NYSE:TPR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 30 Analysts
12.1%per year
United States of America Luxury Industry PEG Ratio Median Figure of 26 Publicly-Listed Luxury Companies 1.77x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

NYSE:TPR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.14x ÷ 12.1%

1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tapestry is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Tapestry's assets?
Raw Data
NYSE:TPR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-30) in USD $12.17
NYSE:TPR Share Price * NYSE (2019-06-17) in USD $29.66
United States of America Luxury Industry PB Ratio Median Figure of 47 Publicly-Listed Luxury Companies 1.45x
United States of America Market PB Ratio Median Figure of 5,245 Publicly-Listed Companies 1.79x
NYSE:TPR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:TPR Share Price ÷ Book Value per Share (both in USD)

= 29.66 ÷ 12.17

2.44x

* Primary Listing of Tapestry.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tapestry is overvalued based on assets compared to the US Luxury industry average.
X
Value checks
We assess Tapestry's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check)
  5. Tapestry has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Tapestry expected to perform in the next 1 to 3 years based on estimates from 30 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tapestry expected to grow at an attractive rate?
  • Tapestry's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Tapestry's earnings growth is positive but not above the United States of America market average.
  • Tapestry's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:TPR Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:TPR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 30 Analysts 12.1%
NYSE:TPR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 30 Analysts 5%
United States of America Luxury Industry Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Luxury Industry Revenue Growth Rate Market Cap Weighted Average 6.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:TPR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 30 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:TPR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 7,855 1,098 1
2022-06-30 7,196 1,005 2
2021-06-30 6,600 1,236 910 12
2020-06-30 6,314 1,140 836 30
2019-06-30 6,048 1,039 689 30
NYSE:TPR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-30 5,997 1,012 706
2018-12-29 5,988 1,165 729
2018-09-29 5,972 1,081 538
2018-06-30 5,880 997 398
2018-03-31 5,530 910 338
2017-12-30 5,203 957 319
2017-09-30 4,740 788 456
2017-07-01 4,488 854 591
2017-04-01 4,509 779 521
2016-12-31 4,547 777 511
2016-10-01 4,499 713 482
2016-07-02 4,492 759 461

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tapestry's earnings are expected to grow by 12.1% yearly, however this is not considered high growth (20% yearly).
  • Tapestry's revenue is expected to grow by 5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:TPR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 30 Analyst Estimates (S&P Global) See Below

All data from Tapestry Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:TPR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30 3.83 3.83 3.83 1.00
2022-06-30 3.49 3.49 3.49 1.00
2021-06-30 3.17 3.20 3.14 2.00
2020-06-30 2.87 2.99 2.81 13.00
2019-06-30 2.35 2.59 2.20 13.00
NYSE:TPR Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-30 2.44
2018-12-29 2.53
2018-09-29 1.87
2018-06-30 1.39
2018-03-31 1.19
2017-12-30 1.13
2017-09-30 1.62
2017-07-01 2.11
2017-04-01 1.86
2016-12-31 1.83
2016-10-01 1.73
2016-07-02 1.66

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Tapestry is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Tapestry's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Tapestry has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Tapestry performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Tapestry's growth in the last year to its industry (Luxury).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Tapestry's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Tapestry's 1-year earnings growth exceeds its 5-year average (109.4% vs -4.9%)
  • Tapestry's earnings growth has exceeded the US Luxury industry average in the past year (109.4% vs 53.9%).
Earnings and Revenue History
Tapestry's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Tapestry Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:TPR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-30 5,997.10 706.20 3,152.50
2018-12-29 5,988.10 729.10 3,085.40
2018-09-29 5,972.30 537.50 3,057.60
2018-06-30 5,880.00 397.50 2,981.60
2018-03-31 5,530.10 337.50 2,770.50
2017-12-30 5,202.90 319.40 2,586.80
2017-09-30 4,739.60 455.90 2,415.60
2017-07-01 4,488.30 591.00 2,271.40
2017-04-01 4,509.10 520.80 2,360.00
2016-12-31 4,547.00 511.10 2,395.00
2016-10-01 4,499.10 481.50 2,381.00
2016-07-02 4,491.80 460.50 2,275.80
2016-03-26 4,341.30 390.70 2,380.80
2015-12-26 4,237.50 366.30 2,343.60
2015-09-26 4,183.10 379.70 2,310.10
2015-06-27 4,191.60 402.40 2,290.60
2015-03-28 4,323.70 465.90 2,248.40
2014-12-27 4,494.00 568.60 2,228.50
2014-09-27 4,694.20 682.50 2,210.60
2014-06-28 4,806.20 781.30 2,180.00
2014-03-29 4,892.69 927.44 2,094.55
2013-12-28 4,980.67 975.58 2,104.61
2013-09-28 5,064.84 1,030.94 2,116.75
2013-06-29 5,075.40 1,034.40 2,173.60
2013-03-30 5,007.89 1,064.51 2,092.68
2012-12-29 4,929.30 1,050.58 2,041.60
2012-09-29 4,874.17 1,045.31 2,027.05
2012-06-30 4,763.18 1,038.91 1,956.30

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Tapestry has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tapestry used its assets more efficiently than the US Luxury industry average last year based on Return on Assets.
  • Tapestry's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tapestry's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Tapestry has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Tapestry's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Tapestry's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tapestry is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tapestry's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tapestry's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Tapestry Company Filings, last reported 2 months ago.

NYSE:TPR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-30 3,531.20 1,602.20 1,337.30
2018-12-29 3,488.40 1,601.70 1,495.20
2018-09-29 3,309.60 1,601.20 1,063.20
2018-06-30 3,244.60 1,600.60 1,250.00
2018-03-31 3,138.00 1,600.20 1,038.30
2017-12-30 2,949.40 2,688.10 2,091.80
2017-09-30 2,940.00 2,688.80 1,670.90
2017-07-01 3,001.90 1,579.50 3,083.60
2017-04-01 2,891.90 591.80 1,891.90
2016-12-31 2,811.10 591.60 1,835.90
2016-10-01 2,728.50 591.40 1,533.20
2016-07-02 2,682.90 876.20 1,319.40
2016-03-26 2,625.40 883.50 1,282.40
2015-12-26 2,567.30 887.00 1,337.10
2015-09-26 2,473.50 890.60 1,276.20
2015-06-27 2,489.90 890.40 1,525.80
2015-03-28 2,540.30 896.70 2,021.20
2014-12-27 2,518.00 20.00 1,064.90
2014-09-27 2,440.10 170.00 907.50
2014-06-28 2,420.60 140.50 868.60
2014-03-29 2,389.28 210.49 774.90
2013-12-28 2,430.73 0.49 798.84
2013-09-28 2,378.57 0.99 854.75
2013-06-29 2,409.16 0.99 1,134.89
2013-03-30 2,243.97 22.61 928.50
2012-12-29 2,082.33 22.71 858.66
2012-09-29 1,994.09 23.26 760.76
2012-06-30 1,992.93 23.36 917.22
  • Tapestry's level of debt (45.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (8.7% vs 45.4% today).
  • Debt is well covered by operating cash flow (63.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 16.5x coverage).
X
Financial health checks
We assess Tapestry's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Tapestry has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Tapestry's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.55%
Current annual income from Tapestry dividends. Estimated to be 4.71% next year.
If you bought $2,000 of Tapestry shares you are expected to receive $91 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Tapestry's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Tapestry's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:TPR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 30 Analyst Estimates (S&P Global) See Below
United States of America Luxury Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 1.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:TPR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 1.35 1.00
2022-06-30 1.35 1.00
2021-06-30 1.48 9.00
2020-06-30 1.40 18.00
2019-06-30 1.35 17.00
NYSE:TPR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-16 1.350 4.525
2019-02-21 1.350 4.123
2018-11-15 1.350 3.737
2018-11-08 1.350 3.247
2018-05-17 1.350 2.886
2018-02-15 1.350 2.661
2017-11-15 1.350 3.024
2017-08-15 1.350 3.334
2017-05-19 1.350 2.881
2017-02-17 1.350 3.349
2016-11-15 1.350 3.688
2016-11-09 1.350 3.640
2016-11-01 1.350 3.759
2016-05-18 1.350 3.494
2016-02-18 1.350 3.442
2015-11-12 1.350 4.156
2015-11-04 1.350 4.308
2015-10-27 1.350 4.272
2015-08-14 1.350 4.520
2015-08-04 1.350 4.220
2015-02-18 1.350 3.601
2014-11-13 1.350 3.663
2014-08-05 1.350 3.783
2014-04-29 1.350 3.578
2014-02-14 1.350 2.753
2013-11-15 1.350 2.554
2013-08-21 1.350 2.544
2013-04-23 1.350 2.367
2013-02-13 1.200 2.417
2012-11-15 1.200 2.169
2012-08-21 1.200 2.119
2012-04-24 1.200 1.959
2012-02-16 0.900 1.185
2011-11-17 0.900 1.407
2011-08-17 0.900 1.561
2011-04-26 0.900 1.484
2011-02-28 0.600 1.124
2010-11-18 0.600 1.083
2010-08-18 0.600 1.383
2010-04-20 0.600 1.530
2010-02-18 0.300 0.772
2009-11-19 0.300 0.836
2009-08-18 0.300 0.930

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Tapestry's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Tapestry's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Tapestry afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tapestry has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Tapestry's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Victor Luis
COMPENSATION $12,825,430
AGE 52
TENURE AS CEO 5.4 years
CEO Bio

Mr. Victor Luis has been the Chief Executive Officer of Coach, Inc. since January 2014. Mr. Luis served as the President and Chief Commercial Officer at Coach, Inc. from February 2013 to January 2014. Mr. Luis served as the President of International Group at Coach Inc. Mr. Luis served as the President of Coach Retail International Business Unit at Coach Inc. since October 13, 2010. He served as the President of Coach Retail International Business Unit - Coach Inc at Coach Japan LLC. Mr. Luis served as the President and Chief Executive for Coach Japan at Coach Inc. since May 2006. He served as the President and Chief Executive, North America of fine crystal maker Baccarat. He served as Chief Executive Officer of Coach China of Coach Inc. Mr. Luis has been a Director of Coach, Inc. since February 2013. Mr. Luis held marketing and sales positions within the Moët Hennessy Louis Vuitton (LVMH) Group. Mr. Luis holds a Bachelor of Arts degree from College of the Holy Cross and a Master of Arts degree from University College, Durham University, UK.

CEO Compensation
  • Victor's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Victor's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Tapestry management team in years:

3.2
Average Tenure
53
Average Age
  • The tenure for the Tapestry management team is about average.
Management Team

Victor Luis

TITLE
CEO & Director
COMPENSATION
$13M
AGE
52
TENURE
5.4 yrs

Todd Kahn

TITLE
President
COMPENSATION
$3M
AGE
54
TENURE
3.1 yrs

Josh Schulman

TITLE
CEO & Brand President of Coach
COMPENSATION
$4M
AGE
47
TENURE
2 yrs

Andrea Resnick

TITLE
Interim CFO
COMPENSATION
$2M
AGE
57
TENURE
0.3 yrs

Brian Satenstein

TITLE
VP, Controller & Principal Accounting Officer
AGE
39
TENURE
0.8 yrs

Michael Braine

TITLE
Chief Information Officer

Sarah Dunn

TITLE
Global Human Resources Officer
COMPENSATION
$2M
AGE
58
TENURE
5.2 yrs

Jo Baldwin

TITLE
Global Head of Creative Studio& VP
TENURE
3.7 yrs

Caroline Pasquier

TITLE
Senior Vice President of Global Public Relations and Communications
TENURE
3.3 yrs

Peter Charles

TITLE
Global Head of Supply Chain
Board of Directors Tenure

Average tenure and age of the Tapestry board of directors in years:

4.5
Average Tenure
53.5
Average Age
  • The tenure for the Tapestry board of directors is about average.
Board of Directors

Jide Zeitlin

TITLE
Independent Chairman of the Board
COMPENSATION
$410K
AGE
54
TENURE
4.6 yrs

Victor Luis

TITLE
CEO & Director
COMPENSATION
$13M
AGE
52
TENURE
6.3 yrs

Susan Kropf

TITLE
Independent Non Executive Director
COMPENSATION
$270K
AGE
69
TENURE
13 yrs

Dave Denton

TITLE
Independent Director
COMPENSATION
$270K
AGE
53
TENURE
5.1 yrs

Ivan Menezes

TITLE
Independent Non Executive Director
COMPENSATION
$240K
AGE
59
TENURE
14.3 yrs

Andrea Guerra

TITLE
Independent Director
COMPENSATION
$240K
AGE
53
TENURE
4.3 yrs

Annabelle Long

TITLE
Independent Director
COMPENSATION
$240K
AGE
45
TENURE
3.4 yrs

Anne Gates

TITLE
Outside Director
COMPENSATION
$179K
AGE
58
TENURE
1.5 yrs

Darrell Cavens

TITLE
Outside Director
AGE
45
TENURE
0.9 yrs

Bill Nuti

TITLE
Director Emeritus
COMPENSATION
$240K
AGE
54
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Tapestry insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Jun 19 Sell Yu Long Individual 12. Jun 19 12. Jun 19 -3,229 $28.93 $-93,415
30. May 19 Buy Darrell Cavens Individual 28. May 19 28. May 19 7,000 $30.01 $210,050
21. Aug 18 Sell Ian Bickley Individual 20. Aug 18 20. Aug 18 -9,864 $52.16 $-514,506
X
Management checks
We assess Tapestry's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Tapestry has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Are Tapestry, Inc.’s Returns On Capital Worth Investigating?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Tapestry: 0.14 = US$844m ÷ (US$7.0b - US$997m) (Based on the trailing twelve months to March 2019.) Therefore, Tapestry has an ROCE of 14%. … Tapestry's Current Liabilities And Their Impact On Its ROCE Short term (or current) liabilities, are things like supplier invoices, overdrafts, or tax bills that need to be paid within 12 months. … Due to the way the ROCE equation works, having large bills due in the near term can make it look as though a company has less capital employed, and thus a higher ROCE than usual.

Simply Wall St -

Why Tapestry, Inc. (NYSE:TPR) Looks Like A Quality Company

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Tapestry: 20% = US$706m ÷ US$3.5b (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Combining Tapestry's Debt And Its 20% Return On Equity Tapestry has a debt to equity ratio of 0.45, which is far from excessive. … A company that can achieve a high return on equity without debt could be considered a high quality business.

Simply Wall St -

Is Tapestry, Inc.'s (NYSE:TPR) Future Growth Already Accounted For In Today's Price?

NYSE:TPR Price Estimation Relative to Market, May 20th 2019 Tapestry's price-to-earnings ratio stands at 12.6x, which is low, relative to the industry average. … However, since Tapestry is a high-growth stock, we must also account for its earnings growth by using calculation called the PEG ratio. … A PE ratio of 12.6x and expected year-on-year earnings growth of 12% give Tapestry an acceptable PEG ratio of 1.02x.

Simply Wall St -

What You Must Know About Tapestry, Inc.'s (NYSE:TPR) Financial Strength

Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Tapestry, Inc. … While they are less talked about as an investment category, mid-cap risk-adjusted returns have generally been better than more commonly focused stocks that fall into the small- or large-cap categories. … TPR’s financial liquidity and debt position will be analysed in this article, to get an idea of whether the company can fund opportunities for strategic growth and maintain strength through economic downturns.

Simply Wall St -

How Much is Tapestry, Inc.'s (NYSE:TPR) CEO Getting Paid?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Victor Luis's Compensation Compare With Similar Sized Companies. … has a market cap of US$9.4b, and is paying total annual CEO compensation of US$13m.

Simply Wall St -

Should Tapestry, Inc. (NYSE:TPR) Be Part Of Your Dividend Portfolio?

Over the past 10 years Tapestry, Inc. … The company is currently worth US$9.7b, and now yields roughly 4.0%. … Let's take a look at Tapestry in more detail.

Simply Wall St -

Why I Like Tapestry, Inc. (NYSE:TPR)

(NYSE:TPR) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of TPR, it

Simply Wall St -

Tapestry, Inc. (NYSE:TPR) Insiders Have Been Selling

As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … Tapestry Insider Transactions Over The Last Year. … Although we don't gain confidence from insider selling, we note that this large sale was at well above current price of US$31.85

Simply Wall St -

Did Changing Sentiment Drive Tapestry's (NYSE:TPR) Share Price Down By 35%?

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Even though the Tapestry share price is down over the year, its EPS actually improved. … Since we can't easily explain the share price movement based on these metrics, it might be worth considering how market sentiment has changed towards the stock.

Simply Wall St -

4 Days Left Before Tapestry, Inc. (NYSE:TPR) Will Be Trading Ex-Dividend

(NYSE:TPR) will be paying shareholders an upcoming dividend amount of US$0.34 per share. … However, investors must have bought the company's stock before 07 March 2019 in order to qualify for the payment. … consistent, reliable and competitive dividend over a long period of time, and is expected to continue to pay in the same manner many years to come

Simply Wall St -

Company Info

Description

Tapestry, Inc. provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men. It also provides women's footwear; eyewear, such as sunglasses; jewelry comprising 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. In addition, the company offers kids ready-to-wear items; housewares and home accessories, including fashion bedding and tableware; and stationery and gifts, as well as weekend accessories and other lifestyle products. Further, the company licenses rights to market and distribute its eyewear, watches, and fragrances under the Coach brand; and fashion bedding, eyewear, footwear, tableware, stationery and gift, tech accessories, and watches under the Kate Spade brand. It 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 30, 2018, the company operated 1,432 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.

Details
Name: Tapestry, Inc.
TPR
Exchange: NYSE
Founded: 1941
$8,605,432,425
290,135,955
Website: http://www.tapestry.com
Address: Tapestry, Inc.
10 Hudson Yards,
New York,
New York, 10001,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE TPR Common Stock New York Stock Exchange US USD 05. Oct 2000
DB COY Common Stock Deutsche Boerse AG DE EUR 05. Oct 2000
LSE 0LD5 Common Stock London Stock Exchange GB USD 05. Oct 2000
SEHK 6388 HDR USD0.01 The Stock Exchange of Hong Kong Ltd. HK HKD 05. Dec 2017
BOVESPA TPRY34 BDR EACH 1 REP 1 COM USD0.01 Bolsa de Valores de Sao Paulo BR BRL 17. May 2019
Number of employees
Current staff
Staff numbers
16,900
Tapestry employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/17 23:34
End of day share price update: 2019/06/17 00:00
Last estimates confirmation: 2019/06/12
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/30
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.