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Tiffany

NYSE:TIF
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TIF
NYSE
$11B
Market Cap
  1. Home
  2. US
  3. Retail
Company description

Tiffany & Co., through its subsidiaries, designs, manufactures, and retails jewelry and other items in the Americas, the Asia-Pacific, Japan, Europe, and internationally. The last earnings update was 46 days ago. More info.


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TIF Share Price and Events
7 Day Returns
-2.1%
NYSE:TIF
-2.5%
US Specialty Retail
-1.2%
US Market
1 Year Returns
-32%
NYSE:TIF
3%
US Specialty Retail
3.4%
US Market
TIF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tiffany (TIF) -2.1% -3.6% -13.5% -32% 49.5% -6.7%
US Specialty Retail -2.5% 2.2% -4.2% 3% 24.9% 52.1%
US Market -1.2% 1.2% 1.7% 3.4% 35.5% 41.6%
1 Year Return vs Industry and Market
  • TIF underperformed the Specialty Retail industry which returned 3% over the past year.
  • TIF underperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
TIF
Industry
5yr Volatility vs Market

TIF Value

 Is Tiffany 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 Tiffany 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 Tiffany.

NYSE:TIF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 26 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
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:TIF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.83 (1 + (1- 21%) (19.57%))
0.972
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.972 * 5.96%)
8.52%

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

The calculations below outline how an intrinsic value for Tiffany 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:TIF DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.52%)
2020 445.04 Analyst x7 410.09
2021 513.34 Analyst x7 435.88
2022 578.50 Analyst x4 452.63
2023 705.00 Analyst x2 508.29
2024 727.50 Analyst x2 483.32
2025 749.47 Est @ 3.02% 458.82
2026 771.44 Est @ 2.93% 435.18
2027 793.60 Est @ 2.87% 412.52
2028 816.05 Est @ 2.83% 390.88
2029 838.90 Est @ 2.8% 370.27
Present value of next 10 years cash flows $4,357.90
NYSE:TIF DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $838.90 × (1 + 2.73%) ÷ (8.52% – 2.73%)
$14,878.33
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $14,878.33 ÷ (1 + 8.52%)10
$6,566.95
NYSE:TIF Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $4,357.90 + $6,566.95
$10,924.85
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $10,924.85 / 121.41
$89.99
NYSE:TIF Discount to Share Price
Calculation Result
Value per share (USD) From above. $89.99
Current discount Discount to share price of $92.67
= -1 x ($92.67 - $89.99) / $89.99
-3%

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

  • The current share price of Tiffany is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Tiffany's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tiffany's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:TIF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-04-30) in USD $4.66
NYSE:TIF Share Price ** NYSE (2019-07-19) in USD $92.67
United States of America Specialty Retail Industry PE Ratio Median Figure of 62 Publicly-Listed Specialty Retail Companies 14.67x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 17.88x

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

** Primary Listing of Tiffany.

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

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

= 92.67 ÷ 4.66

19.88x

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

  • Tiffany is overvalued based on earnings compared to the US Specialty Retail industry average.
  • Tiffany is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Tiffany's expected growth come at a high price?
Raw Data
NYSE:TIF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts
10.2%per year
United States of America Specialty Retail Industry PEG Ratio Median Figure of 55 Publicly-Listed Specialty Retail Companies 1.71x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.88x ÷ 10.2%

1.95x

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

  • Tiffany is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Tiffany's assets?
Raw Data
NYSE:TIF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-04-30) in USD $26.02
NYSE:TIF Share Price * NYSE (2019-07-19) in USD $92.67
United States of America Specialty Retail Industry PB Ratio Median Figure of 99 Publicly-Listed Specialty Retail Companies 1.32x
United States of America Market PB Ratio Median Figure of 5,245 Publicly-Listed Companies 1.79x
NYSE:TIF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 92.67 ÷ 26.02

3.56x

* Primary Listing of Tiffany.

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

  • Tiffany is overvalued based on assets compared to the US Specialty Retail industry average.
X
Value checks
We assess Tiffany'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 Specialty Retail 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 Specialty Retail industry average (and greater than 0)? (1 check)
  5. Tiffany has a total score of 0/6, 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.

TIF Future Performance

 How is Tiffany expected to perform in the next 1 to 3 years based on estimates from 26 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
10.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tiffany expected to grow at an attractive rate?
  • Tiffany's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Tiffany's earnings growth is positive but not above the United States of America market average.
  • Tiffany's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:TIF Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:TIF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts 10.2%
NYSE:TIF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 26 Analysts 5.2%
United States of America Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 10%
United States of America Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*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:TIF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:TIF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-01-31 5,858 1,023 962 1
2023-01-31 5,409 973 872 2
2022-01-31 4,965 903 710 12
2021-01-31 4,727 860 646 26
2020-01-31 4,523 796 598 26
NYSE:TIF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-04-30 4,412 463 569
2019-01-31 4,442 532 586
2018-10-31 4,456 658 444
2018-07-31 4,420 736 449
2018-04-30 4,303 918 420
2018-01-31 4,170 932 370
2017-10-31 4,065 730 466
2017-07-31 4,038 784 461
2017-04-30 4,010 737 452
2017-01-31 4,002 706 446
2016-10-31 3,986 793 452
2016-07-31 3,975 713 447

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tiffany's earnings are expected to grow by 10.2% yearly, however this is not considered high growth (20% yearly).
  • Tiffany's revenue is expected to grow by 5.2% 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:TIF 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 26 Analyst Estimates (S&P Global) See Below

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

NYSE:TIF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-01-31 8.51 8.51 8.51 1.00
2023-01-31 7.58 7.58 7.58 1.00
2022-01-31 5.90 6.70 5.50 8.00
2021-01-31 5.37 5.80 5.02 22.00
2020-01-31 4.93 5.20 4.77 21.00
NYSE:TIF Past Financials Data
Date (Data in USD Millions) EPS *
2019-04-30 4.66
2019-01-31 4.77
2018-10-31 3.59
2018-07-31 3.62
2018-04-30 3.37
2018-01-31 2.97
2017-10-31 3.74
2017-07-31 3.70
2017-04-30 3.62
2017-01-31 3.57
2016-10-31 3.59
2016-07-31 3.53

*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.
  • Tiffany is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Tiffany'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.
Tiffany has a total score of 1/6, 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.

TIF Past Performance

  How has Tiffany 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 Tiffany's growth in the last year to its industry (Specialty Retail).
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.
  • Tiffany's year on year earnings growth rate has been positive over the past 5 years.
  • Tiffany's 1-year earnings growth exceeds its 5-year average (35.7% vs 9.3%)
  • Tiffany's earnings growth has exceeded the US Specialty Retail industry average in the past year (35.7% vs 11.1%).
Earnings and Revenue History
Tiffany'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 Tiffany Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:TIF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-04-30 4,412.00 569.30 2,046.80
2019-01-31 4,442.10 586.40 2,035.50
2018-10-31 4,455.90 443.80 2,003.00
2018-07-31 4,419.60 449.20 1,936.00
2018-04-30 4,303.40 419.50 1,856.50
2018-01-31 4,169.80 370.10 1,816.20
2017-10-31 4,065.00 466.00 1,777.60
2017-07-31 4,038.20 460.80 1,762.40
2017-04-30 4,010.10 451.50 1,742.20
2017-01-31 4,001.80 446.10 1,752.40
2016-10-31 3,985.90 451.50 1,742.10
2016-07-31 3,974.80 447.40 1,716.30
2016-04-30 4,033.80 446.50 1,734.40
2016-01-31 4,104.90 463.90 1,722.40
2015-10-31 4,176.40 496.90 1,694.70
2015-07-31 4,197.80 444.20 1,698.60
2015-04-30 4,200.20 463.50 1,665.10
2015-01-31 4,249.90 484.20 1,645.80
2014-10-31 4,262.98 184.40 1,641.53
2014-07-31 4,214.86 240.71 1,604.99
2014-04-30 4,147.75 223.39 1,573.54
2014-01-31 4,031.10 181.40 1,546.50
2013-10-31 3,968.62 464.61 1,514.25
2013-07-31 3,909.88 433.18 1,495.38
2013-04-30 3,870.56 418.20 1,484.72
2013-01-31 3,794.25 416.16 1,466.07
2012-10-31 3,745.92 414.91 1,456.78
2012-07-31 3,714.95 441.42 1,439.46

*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.
  • Tiffany has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tiffany used its assets more efficiently than the US Specialty Retail industry average last year based on Return on Assets.
  • Tiffany's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tiffany'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 Specialty Retail 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.
Tiffany has a total score of 4/6, 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.

TIF Health

 How is Tiffany'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 Tiffany's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tiffany is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tiffany's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tiffany'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 3.6x 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 Tiffany Company Filings, last reported 2 months ago.

NYSE:TIF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-04-30 3,172.00 1,023.30 762.70
2019-01-31 3,130.90 996.80 855.30
2018-10-31 3,022.40 948.90 655.40
2018-07-31 3,071.50 971.70 814.10
2018-04-30 3,268.60 979.60 1,211.90
2018-01-31 3,248.20 1,003.50 1,291.20
2017-10-31 3,169.10 1,072.40 1,009.40
2017-07-31 3,158.00 1,116.10 1,043.50
2017-04-30 3,074.70 1,071.10 960.00
2017-01-31 3,028.40 1,107.10 985.80
2016-10-31 2,925.10 1,105.20 786.70
2016-07-31 2,928.70 1,092.40 720.10
2016-04-30 2,959.30 1,102.80 789.90
2016-01-31 2,929.50 1,095.80 886.60
2015-10-31 2,871.00 1,079.00 725.10
2015-07-31 2,894.70 1,075.40 771.40
2015-04-30 2,886.30 1,079.20 715.40
2015-01-31 2,850.70 1,116.50 731.50
2014-10-31 2,908.69 1,086.38 383.41
2014-07-31 2,944.43 1,025.50 398.43
2014-04-30 2,860.59 991.78 381.22
2014-01-31 2,733.97 1,003.52 367.04
2013-10-31 2,821.95 1,007.74 521.20
2013-07-31 2,735.30 964.22 489.66
2013-04-30 2,664.45 974.09 464.92
2013-01-31 2,611.32 959.27 506.20
2012-10-31 2,467.22 977.92 345.87
2012-07-31 2,408.80 939.55 367.44
  • Tiffany's level of debt (32.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (34.7% vs 32.3% today).
  • Debt is well covered by operating cash flow (45.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18.2x coverage).
X
Financial health checks
We assess Tiffany'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. Tiffany has a total score of 6/6, 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.

TIF Dividends

 What is Tiffany'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
2.5%
Current annual income from Tiffany dividends. Estimated to be 2.6% next year.
If you bought $2,000 of Tiffany shares you are expected to receive $50 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?
  • Tiffany's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Tiffany's dividend is below the markets top 25% of dividend payers in United States of America (3.76%).
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:TIF 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 26 Analyst Estimates (S&P Global) See Below
United States of America Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 2.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2016 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

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

NYSE:TIF Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-01-31 2.50 1.00
2023-01-31 2.45 1.00
2022-01-31 2.61 10.00
2021-01-31 2.42 17.00
2020-01-31 2.28 17.00
NYSE:TIF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-06-04 2.320 2.502
2019-02-21 2.200 2.198
2018-11-15 2.200 2.511
2018-08-16 2.200 1.846
2018-05-24 2.200 1.644
2018-02-15 2.000 1.982
2017-11-16 2.000 1.969
2017-08-17 2.000 2.176
2017-05-25 2.000 2.176
2017-02-16 1.800 1.965
2016-11-17 1.800 2.256
2016-08-18 1.800 2.486
2016-05-26 1.800 2.884
2016-02-18 1.600 2.313
2015-11-19 1.600 2.290
2015-08-20 1.600 2.003
2015-05-28 1.600 1.721
2015-02-19 1.520 1.742
2014-11-20 1.520 1.562
2014-08-21 1.520 1.560
2014-05-22 1.520 1.530
2014-02-20 1.360 1.525
2013-11-21 1.360 1.547
2013-08-15 1.360 1.725
2013-05-16 1.360 1.759
2013-02-21 1.280 1.806
2012-11-15 1.280 2.094
2012-08-16 1.280 2.054
2012-05-17 1.280 2.319
2012-02-16 1.160 1.727
2011-11-17 1.160 1.775
2011-08-18 1.160 1.641
2011-05-19 1.160 1.558
2011-02-17 1.000 1.576
2010-11-18 1.000 1.627
2010-08-19 1.000 2.099
2010-05-20 1.000 2.395
2010-01-21 0.800 1.756
2009-11-19 0.680 1.572
2009-08-20 0.680 1.757
2009-05-21 0.680 2.438
2009-02-19 0.680 2.995
2008-11-20 0.680 3.107
2008-08-21 0.680 2.308

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 Tiffany's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
X
Income/ dividend checks
We assess Tiffany'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 Tiffany afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tiffany has a total score of 5/6, see the detailed checks below.


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

TIF Management

 What is the CEO of Tiffany'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
Alessandro Bogliolo
COMPENSATION $10,940,139
AGE 54
TENURE AS CEO 1.8 years
CEO Bio

Mr. Alessandro Bogliolo has been the Chief Executive Officer and Director at Tiffany & Co. since October 2, 2017. Mr. Bogliolo served as the Global Chief Executive of Diesel S.p.A. since October 1, 2013. Mr. Bogliolo served as the Chief Operating Officer, North America at Sephora USA, Inc. from 2012 to 2013. Mr. Bogliolo served as the Chief Operating Officer and Executive Vice President of Bulgari SpA until October 2, 2017. Mr. Bogliolo spent 16 years at Bulgari SpA from 1996 to 2012. Mr. Bogliolo served as Executive Vice President of Jewellery, Watches & Accessories Division at Bulgari S.p.A. Mr. Bogliolo started his career as a consultant at Bain & Co before moving to work in the car industry. He then spent 16 years at Bulgari, where he held various roles, including chief operating officer. He graduated from UniversitaÌ Bocconi with a degree in business administration and later completed the International Management Program at HEC Paris.

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

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

2.4
Average Tenure
50
Average Age
  • The tenure for the Tiffany management team is about average.
Management Team

Alessandro Bogliolo

TITLE
CEO & Director
COMPENSATION
$11M
AGE
54
TENURE
1.8 yrs

Mark Erceg

TITLE
Executive VP & CFO
COMPENSATION
$4M
AGE
50
TENURE
2.8 yrs

Philippe Galtie

TITLE
Executive Vice President of Global Sales
COMPENSATION
$3M
AGE
58
TENURE
1.4 yrs

Pamela Cloud

TITLE
Senior VP & Chief Merchandising Officer
COMPENSATION
$2M
AGE
49
TENURE
12.5 yrs

Andy Hart

TITLE
Senior Vice President of Diamond & Jewelry Supply
COMPENSATION
$2M
AGE
51
TENURE
7.2 yrs

Mark Aaron

TITLE
Vice President of Investor Relations

Leigh Harlan

TITLE
Senior VP
COMPENSATION
$3M
AGE
42
TENURE
5.2 yrs

Nathan Strauss

TITLE
Director of Corporate Communications

Andrea Davey

TITLE
Senior Vice President of Global Marketing
AGE
50
TENURE
1.4 yrs

Gretchen Koback-Pursel

TITLE
Senior VP & Chief Human Resources Officer
AGE
46
TENURE
2.1 yrs
Board of Directors Tenure

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

2.4
Average Tenure
64
Average Age
  • The average tenure for the Tiffany board of directors is less than 3 years, this suggests a new board.
Board of Directors

Roger Farah

TITLE
Chairman
COMPENSATION
$629K
AGE
66
TENURE
1.8 yrs

Alessandro Bogliolo

TITLE
CEO & Director
COMPENSATION
$11M
AGE
54
TENURE
1.8 yrs

Rose Bravo

TITLE
Independent Director
COMPENSATION
$270K
AGE
68
TENURE
21.8 yrs

Bill Shutzer

TITLE
Director
COMPENSATION
$265K
AGE
72
TENURE
34.7 yrs

Bob Singer

TITLE
Independent Director
COMPENSATION
$275K
AGE
67
TENURE
7.2 yrs

Abby Kohnstamm

TITLE
Independent Director
COMPENSATION
$250K
AGE
66
TENURE
18 yrs

Jim Lillie

TITLE
Independent Director
COMPENSATION
$250K
AGE
58
TENURE
2.5 yrs

Francesco Trapani

TITLE
Independent Director
COMPENSATION
$229K
AGE
62
TENURE
2.3 yrs

Annie Young-Scrivner

TITLE
Director
COMPENSATION
$230K
AGE
50
TENURE
1.2 yrs

Jane Hudis

TITLE
Director
AGE
59
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • Tiffany individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
20. Jun 19 Sell Francesco Trapani Individual 18. Jun 19 18. Jun 19 -250,000 $92.10 $-23,025,375
10. Jun 19 Sell Abby Kohnstamm Individual 07. Jun 19 07. Jun 19 -11,912 $90.70 $-1,080,436
07. Jun 19 Sell Andrew Hart Individual 06. Jun 19 06. Jun 19 -2,665 $90.53 $-241,253
27. Mar 19 Sell Lawrence Fish Individual 26. Mar 19 26. Mar 19 -8,128 $103.58 $-841,934
27. Sep 18 Sell Lawrence Fish Individual 26. Sep 18 27. Sep 18 -7,000 $130.41 $-905,824
25. Sep 18 Sell Lawrence Fish Individual 24. Sep 18 24. Sep 18 -6,000 $127.25 $-763,500
18. Sep 18 Sell William Shutzer Individual 17. Sep 18 17. Sep 18 -250 $126.84 $-31,573
07. Sep 18 Buy Francesco Trapani Individual 06. Sep 18 07. Sep 18 40,000 $124.47 $4,970,139
05. Sep 18 Buy Francesco Trapani Individual 31. Aug 18 05. Sep 18 15,000 $124.13 $1,844,337
X
Management checks
We assess Tiffany'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. Tiffany 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.

TIF News

Simply Wall St News

Interested In Tiffany & Co. (NYSE:TIF)? Here's What Its Recent Performance Looks Like

After reading Tiffany & Co.'s (NYSE:TIF) latest earnings update (30 April 2019), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … See our latest analysis for Tiffany How TIF fared against its long-term earnings performance and its industry TIF's trailing twelve-month earnings (from 30 April 2019) of US$569m has jumped 36% compared to the previous year. … I suggest you continue to research Tiffany to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for TIF’s future growth?

Simply Wall St -

Calculating The Fair Value Of Tiffany & Co. (NYSE:TIF)

Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $298.04 $445.04 $513.34 $578.50 $705.00 $727.50 $749.47 $771.44 $793.60 $816.05 Growth Rate Estimate Source Analyst x7 Analyst x7 Analyst x7 Analyst x4 Analyst x2 Analyst x2 Est @ 3.02% Est @ 2.93% Est @ 2.87% Est @ 2.83% Present Value ($, Millions) Discounted @ 8.69% $274.20 $376.70 $399.75 $414.46 $464.69 $441.16 $418.13 $395.97 $374.76 $354.54 Present Value of 10-year Cash Flow (PVCF)= $3.91b "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$816m × (1 + 2.7%) ÷ (8.7% – 2.7%) = US$14b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$14b ÷ ( 1 + 8.7%)10 = $6.11b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is $10.02b. … NYSE:TIF Intrinsic value, June 30th 2019 The assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

If You Like EPS Growth Then Check Out Tiffany (NYSE:TIF) Before It's Too Late

So if you're like me, you might be more interested in profitable, growing companies, like Tiffany (NYSE:TIF). … It's no surprise, then, that I like to invest in companies with EPS growth. … I like to take a look at earnings before interest and (EBIT) tax margins, as well as revenue growth, to get another take on the quality of the company's growth.

Simply Wall St -

Is It Worth Considering Tiffany & Co. (NYSE:TIF) For Its Upcoming Dividend?

See our latest analysis for Tiffany Dividends are usually paid out of company profits, so if a company pays out more than it earned then its dividend is usually at greater risk of being cut. … While Tiffany's dividends were covered by the company's reported profits, cash is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend. … Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share.

Simply Wall St -

Tiffany & Co. (NYSE:TIF) Earns Among The Best Returns In Its Industry

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Tiffany: 0.17 = US$776m ÷ (US$5.3b - US$718m) (Based on the trailing twelve months to January 2019.) So, Tiffany has an ROCE of 17%. … 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 -

Boasting A 19% Return On Equity, Is Tiffany & Co. (NYSE:TIF) A Top Quality Stock?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Tiffany: 19% = US$586m ÷ US$3.1b (Based on the trailing twelve months to January 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does Tiffany Have A Good Return On Equity? … How Does Debt Impact Return On Equity?

Simply Wall St -

Is Tiffany & Co. (NYSE:TIF) A Financially Strong Company?

At this constant level of debt, the current cash and short-term investment levels stands at US$855m , ready to be used for running the business. … At the current liabilities level of US$718m, it appears that the company has been able to meet these obligations given the level of current assets of US$3.8b, with a current ratio of 5.24x. … Next Steps: TIF’s high cash coverage and appropriate debt levels indicate its ability to utilise its borrowings efficiently in order to generate ample cash flow.

Simply Wall St -

Is It Time To Consider Buying Tiffany & Co. (NYSE:TIF)?

saw a decent share price growth in the teens level on the NYSE over the last few months. … As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock … However, could the stock still be trading at a relatively cheap price?

Simply Wall St -

Tiffany & Co. (NYSE:TIF): What Are The Future Prospects?

Help shape the future of investing tools and you could win a $250 gift card! … the consensus outlook from analysts appear somewhat bearish, … the higher past 5-year average growth rate of 11%.

Simply Wall St -

Is Tiffany & Co. (NYSE:TIF) A Great Dividend Stock?

(NYSE:TIF) be an attractive dividend share to own for the long haul? … Unfortunately, one common occurrence with dividend companies is for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … Some simple analysis can offer a lot of insight when buying a company for its dividend, and we'll go through these below.

Simply Wall St -

TIF Company Info

Description

Tiffany & Co., through its subsidiaries, designs, manufactures, and retails jewelry and other items in the Americas, the Asia-Pacific, Japan, Europe, and internationally. The company offers jewelry collections, engagement rings, and wedding bands. It also sells watches, home and accessories products, eyewear, and fragrances; and wholesales diamonds and earnings. The company sells its products through retail, Internet and catalog, business-to-business, and wholesale distribution channels. As of January 31, 2019, it operated 124 stores in the Americas, 90 stores in the Asia-Pacific, 55 stores in Japan, 47 stores in Europe, and 5 stores in the United Arab Emirates. Tiffany & Co. was founded in 1837 and is headquartered in New York, New York.

Details
Name: Tiffany & Co.
TIF
Exchange: NYSE
Founded: 1837
$11,250,822,738
121,407,389
Website: http://www.tiffany.com
Address: Tiffany & Co.
727 Fifth Avenue,
New York,
New York, 10022,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE TIF Common Stock New York Stock Exchange US USD 05. May 1987
DB TIF Common Stock Deutsche Boerse AG DE EUR 05. May 1987
LSE 0LFD Common Stock London Stock Exchange GB USD 05. May 1987
BMV TIF * Common Stock Bolsa Mexicana de Valores MX MXN 05. May 1987
BOVESPA TIFF34 EACH BDR REPR 1 COM STK USD0.01 Bolsa de Valores de Sao Paulo BR BRL 29. Dec 2014
Number of employees
Current staff
Staff numbers
14,200
Tiffany employees.
Industry
Specialty Stores
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/20 23:53
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/19
Last earnings filing: 2019/06/04
Last earnings reported: 2019/04/30
Last annual earnings reported: 2019/01/31


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.