Consumer Discretionary · Apparel, Accessories & Luxury Goods · US stock · price as of 16 Oct 2026
Key indicators
Price
$120.18
52-week range
$91.82 – $164.18
Market cap
$25.3B
P/E (trailing)
16.6×
EV / EBITDA
12.7×
Free-cash-flow yield
7.2%
Dividend yield
1.4%
Revenue (last 12 months)
$8.0B
Revenue growth (3y a year)
6.3%
Operating margin
23.9%
Return on invested capital
44.8%
Net debt / EBITDA
1.4×
Fair value
Blended fair value$134.31 range $118 – $142
Versus priceFair+12% to fair value
Peer multiples
$76.86
Fundamentals-adjusted multiple
$110.79
10-year DCF (market-scaled)
$215.28
Earnings power value (floor, not blended)
$48.37
Model uncertainty
High
X-Ray Score
61/ 100 · High confidence · ahead of 87% of sector peers
Valuation54
Growth66
Profitability69
Financial health65
Dividends39
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Tapestry is a house of accessible luxury fashion brands, with Coach as its largest, along with Kate Spade and Stuart Weitzman. The company designs handbags, small leather goods, footwear and accessories, and sells them in its own stores, through e-commerce sites, to wholesale customers and through licensing arrangements. Revenue comes mainly from consumer purchases, so it follows fashion trends, brand strength and discretionary spending patterns.
Sales reached $8.0 billion in the last twelve months, having grown 6.3% a year over the past three years. Operating profit equals 23.9% of revenue. Return on invested capital is 45%. Net debt is 1.4 times of EBITDA. It pays a dividend, and the yield is 1.4%.
StocksXray gives Tapestry, Inc. an X-Ray Score of 61 out of 100 (high confidence), ahead of 87% of the S&P 500 stocks in its sector. Its strongest lens is profitability (69) and its weakest is dividends (39).
Our fair value blend is $134.31 (range $117.57 to $141.61). At $120.18 the stock trades 11% below that blend, so the label is "Fair" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Tapestry, Inc. (TPR)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2022
FY2023
FY2024
FY2025
FY2026
Now
Price
$27.68
$39.65
$41.14
$85.68
$145.45
$120.18
Market cap
$7.5B
$9.6B
$9.6B
$19.1B
$30.6B
$25.3B
P/E
8.7×
10.2×
11.8×
104.5×
20.0×
16.6×
EV / revenue
1.2×
1.6×
1.5×
2.9×
4.0×
3.3×
EV / EBITDA
6.0×
7.7×
7.4×
35.2×
15.3×
12.7×
Price / free cash flow
9.8×
12.1×
8.4×
17.4×
16.9×
13.9×
Free-cash-flow yield
10.2%
8.3%
12.0%
5.7%
5.9%
7.2%
Price / book
3.3×
4.2×
3.3×
22.2×
44.2×
36.5×
Dividend yield
3.61%
3.03%
3.40%
1.63%
1.10%
1.38%
Fundamentals checklist ● 8 Good · ● 7 Average · ● 1 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−6.7%Average
Free-cash-flow yield7.2%Good
Risk models
Altman Z score1.7×Average
Piotroski F-Score8 of 9Good
Growth
EPS growth (3y)23.3%Good
Free-cash-flow growth (3y)31.8%Good
Revenue growth (3y)6.3%Average
Growth consistency70%Bad
Balance sheet
Current ratio1.8×Good
Net debt / EBITDA1.4×Average
Interest cover16.0×Average
Valuation
Fair value vs price1.1×Average
EBIT / EV yield6.8%Average
Profitability
Return on invested capital44.8%Good
Operating margin23.9%Good
Gross profitability93.1%Good
XStocksXray
Tapestry, Inc. (TPR)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY22
FY23
FY24
FY25
FY26
LTM
Revenue
6,685
6,661
6,671
7,011
8,004
8,004
Gross profit
4,650
4,715
4,890
5,289
6,229
6,229
Operating income
1,176
1,172
1,140
415
1,914
1,914
Net income
856
936
816
183
1,528
1,528
Diluted EPS ($)
3.17
3.88
3.50
0.82
7.27
7.24
Free cash flow
759
791
1,147
1,094
1,813
1,813
Gross margin
69.6%
70.8%
73.3%
75.4%
77.8%
77.8%
Operating margin
17.6%
17.6%
17.1%
5.9%
23.9%
23.9%
Net margin
12.8%
14.1%
12.2%
2.6%
19.1%
19.1%
Balance sheet
FY22
FY23
FY24
FY25
FY26
LTM
Total assets
7,265
7,117
13,396
6,581
6,692
6,692
Cash
790
726
6,142
1,100
975
975
Total debt
1,700
1,669
7,307
2,413
2,397
2,397
Equity
2,286
2,278
2,897
858
692
692
Dividend per share ($)
1.00
1.20
1.40
1.40
1.60
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.