Recent News
On May 11, 2026 Tapestry announced a U.S. patent award for its AI platform “Mira,” positioning the company to further scale consumer insights and analytics capabilities. On May 7, 2026 the Board declared a quarterly cash dividend of $0.40 per share payable June 22, 2026 (record/ex-dividend on June 5, 2026).
Technical Analysis
Trend strength (ADX/DI+ / DI-): ADX at 13.17 indicates no established trend; both the positive directional index (DI+ 16.90, reported as dip & reversal) and the negative directional index (DI- 21.31, reported as peak & reversal) signal bullish reversals. That combination implies short-term directional momentum tilting upward but without trend strength to sustain a large move.
MACD: MACD sits negative at -0.69 but the MACD trend registers a dip & reversal, denoting a shift toward bullish momentum. MACD remains below its signal line at present, so momentum looks constructive yet not confirmed by a bullish crossover.
MRO (Momentum/Regression Oscillator): MRO registers -5.53 (peak & reversal), which indicates price sits below model target and suggests potential upward pressure; the negative value points to upside potential while the peak & reversal note signals recent weakening before bottoming.
RSI and momentum breadth: RSI at 46.31 with a decreasing trend implies momentum recently cooled from higher levels and left room for a renewed advance if buying returns.
Price vs averages and bands: Last close $144.19 trades above the 200-day average ($132.54) and slightly above the 50-day ($140.97) and 20-day ($142.55) averages; the 12-day EMA shows a dip & reversal at $141.67. Bollinger band positions (upper ~$146.79, lower ~$138.30) place price near the upper half of the short-term range. Collectively, moving-average alignment plus the EMA reversal supports a modest bullish near-term bias, but ADX indicates limited trend follow-through.
Fundamental Analysis
Revenue and growth: Trailing total revenue $1,920,600,000 with revenue growth of -23.25% (period) and revenue growth year-over-year -16.43%. Quarter-over-quarter revenue change equals -149.68%, reflecting timing and seasonality effects in the reported period; this contrasts with margin expansion elsewhere in the financials.
Profitability and margins: Gross margin stands at 76.88% while operating margin and EBIT margin register roughly 22.26% and 22.34% respectively. EBIT margin of 22.34% sits at the top of the industry peer range and improved sharply year-over-year (+39.11%) despite a sizable quarter-over-quarter compression (-21.75%). High gross and operating margins underpin strong cash conversion and earnings quality for the period.
Earnings and cash flow: Reported EPS $1.66 exceeded the estimate $1.30 by $0.36, an EPS surprise of 27.69%. Operating cash flow totaled $262,600,000 with free cash flow $225,800,000 and a free cash flow yield of 0.78%. Cash and short-term investments total $1,068,600,000 and the cash conversion ratio equals 1.55, supporting the company’s capacity for shareholder returns.
Leverage and balance sheet: Total debt $3,923,200,000 with net debt $1,330,600,000. Debt-to-equity equals 5.75 (575%), and debt-to-assets near 60.67%, both above the industry peer mean ranges provided; interest coverage remains robust at 32.76. Tangible equity sits constrained ($682,400,000), which inflates return-on-equity metrics (ROE ~50.38%) but also concentrates balance-sheet risk.
Capital allocation and returns: Dividend payout ratio about 23.56% with quarterly dividend $0.40; dividend coverage and cash generation appear sufficient for continuation at current levels. WMDST values the stock as over-valued given elevated multiples (PE ~86.40, price-to-sales ~15.11, enterprise multiple ~65.98) despite healthy margins and cash flow.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-07 |
| NEXT REPORT DATE: | 2026-08-06 |
| CASH FLOW | Begin Period Cash Flow | $ 1.1 B |
| Operating Cash Flow | $ 262.6 M | |
| Capital Expenditures | $ -36.80 M | |
| Change In Working Capital | $ -159.00 M | |
| Dividends Paid | $ -81.00 M | |
| Cash Flow Delta | $ -6.80 M | |
| End Period Cash Flow | $ 1.0 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.9 B | |
| Forward Revenue | $ 549.5 M | |
| COSTS | ||
| Cost Of Revenue | $ 444.1 M | |
| Depreciation | $ 39.4 M | |
| Depreciation and Amortization | $ 53.9 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 1.5 B | |
| PROFITABILITY | ||
| Gross Profit | $ 1.5 B | |
| EBITDA | $ 483.0 M | |
| EBIT | $ 429.1 M | |
| Operating Income | $ 427.5 M | |
| Interest Income | — | |
| Interest Expense | $ 13.1 M | |
| Net Interest Income | $ -13.10 M | |
| Income Before Tax | $ 416.0 M | |
| Tax Provision | $ 72.2 M | |
| Tax Rate | 17.4 % | |
| Net Income | $ 343.8 M | |
| Net Income From Continuing Operations | $ 343.8 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.30 | |
| EPS Actual | $ 1.66 | |
| EPS Difference | $ 0.36 | |
| EPS Surprise | 27.692 % | |
| Forward EPS | $ 1.94 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 6.5 B | |
| Intangible Assets | $ 1.7 B | |
| Net Tangible Assets | $ -995.20 M | |
| Total Current Assets | $ 2.7 B | |
| Cash and Short-Term Investments | $ 1.1 B | |
| Cash | $ 1.0 B | |
| Net Receivables | $ 305.0 M | |
| Inventory | $ 843.9 M | |
| Long-Term Investments | $ 162.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 499.7 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 1.5 B | |
| Net Debt | $ 1.3 B | |
| Total Debt | $ 3.9 B | |
| Total Liabilities | $ 5.8 B | |
| EQUITY | ||
| Total Equity | $ 682.4 M | |
| Retained Earnings | $ -3.17 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 3.37 | |
| Shares Outstanding | 202.300 M | |
| Revenue Per-Share | $ 9.49 | |
| VALUATION | Market Capitalization | $ 29.0 B |
| Enterprise Value | $ 31.9 B | |
| Enterprise Multiple | 65.984 | |
| Enterprise Multiple QoQ | 82.463 % | |
| Enterprise Multiple YoY | 15.525 % | |
| Enterprise Multiple IPRWA | high: 118.416 median: 118.416 mean: 83.575 TPR: 65.984 low: -118.647 |
|
| EV/R | 16.594 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 9.476 | |
| Asset To Liability | 1.118 | |
| Debt To Capital | 0.852 | |
| Debt To Assets | 0.607 | |
| Debt To Assets QoQ | 0.47 % | |
| Debt To Assets YoY | 7.908 % | |
| Debt To Assets IPRWA | TPR: 0.607 high: 0.579 median: 0.302 mean: 0.283 low: 0.033 |
|
| Debt To Equity | 5.749 | |
| Debt To Equity QoQ | -19.646 % | |
| Debt To Equity YoY | 109.072 % | |
| Debt To Equity IPRWA | TPR: 5.749 high: 2.863 median: 0.793 mean: 0.735 low: 0.04 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 42.52 | |
| Price To Book QoQ | -5.848 % | |
| Price To Book YoY | 337.66 % | |
| Price To Book IPRWA | TPR: 42.52 high: 11.068 median: 6.241 mean: 5.337 low: 0.55 |
|
| Price To Earnings (P/E) | 86.403 | |
| Price To Earnings QoQ | 88.558 % | |
| Price To Earnings YoY | 26.875 % | |
| Price To Earnings IPRWA | high: 169.783 median: 169.783 mean: 125.689 TPR: 86.403 low: -4.373 |
|
| PE/G Ratio | -2.257 | |
| Price To Sales (P/S) | 15.108 | |
| Price To Sales QoQ | 51.873 % | |
| Price To Sales YoY | 64.955 % | |
| Price To Sales IPRWA | high: 15.228 TPR: 15.108 mean: 8.023 median: 7.797 low: 0.4 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 72.768 | |
| Forward PE/G | -1.9 | |
| Forward P/S | 53.585 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 1.718 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.296 | |
| Asset Turnover Ratio QoQ | -23.86 % | |
| Asset Turnover Ratio YoY | 35.757 % | |
| Asset Turnover Ratio IPRWA | high: 0.444 median: 0.301 mean: 0.298 TPR: 0.296 low: 0.029 |
|
| Receivables Turnover | 5.974 | |
| Receivables Turnover Ratio QoQ | -25.1 % | |
| Receivables Turnover Ratio YoY | 4.277 % | |
| Receivables Turnover Ratio IPRWA | high: 7.241 TPR: 5.974 mean: 2.265 median: 2.031 low: 1.179 |
|
| Inventory Turnover | 0.51 | |
| Inventory Turnover Ratio QoQ | -20.41 % | |
| Inventory Turnover Ratio YoY | 21.987 % | |
| Inventory Turnover Ratio IPRWA | high: 0.965 median: 0.887 mean: 0.801 TPR: 0.51 low: 0.371 |
|
| Days Sales Outstanding (DSO) | 15.275 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 65.507 | |
| Cash Conversion Cycle Days QoQ | -39.325 % | |
| Cash Conversion Cycle Days YoY | -26.606 % | |
| Cash Conversion Cycle Days IPRWA | high: 224.067 mean: 106.608 median: 98.132 TPR: 65.507 low: -87.028 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.547 | |
| CapEx To Revenue | -0.019 | |
| CapEx To Depreciation | -0.934 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 3.1 B | |
| Net Invested Capital | $ 3.1 B | |
| Invested Capital | $ 3.1 B | |
| Net Tangible Assets | $ -995.20 M | |
| Net Working Capital | $ 1.2 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.724 | |
| Current Ratio | 1.841 | |
| Current Ratio QoQ | 13.238 % | |
| Current Ratio YoY | 4.737 % | |
| Current Ratio IPRWA | high: 4.575 mean: 2.327 median: 2.139 TPR: 1.841 low: 0.249 |
|
| Quick Ratio | 1.269 | |
| Quick Ratio QoQ | 15.011 % | |
| Quick Ratio YoY | 3.939 % | |
| Quick Ratio IPRWA | high: 3.175 mean: 1.578 median: 1.448 TPR: 1.269 low: 0.142 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 8.123 | |
| Cost Of Debt | 0.275 % | |
| Interest Coverage Ratio | 32.756 | |
| Interest Coverage Ratio QoQ | -20.231 % | |
| Interest Coverage Ratio YoY | 98.208 % | |
| Interest Coverage Ratio IPRWA | high: 96.867 TPR: 32.756 mean: -1.285 median: -8.254 low: -91.0 |
|
| Operating Cash Flow Ratio | 0.283 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 79.086 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 4.244 | |
| Dividend Payout Ratio | 0.236 | |
| Dividend Rate | $ 0.40 | |
| Dividend Yield | 0.003 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.985 % | |
| Revenue Growth | -23.25 % | |
| Revenue Growth QoQ | -149.676 % | |
| Revenue Growth YoY | -16.433 % | |
| Revenue Growth IPRWA | high: 41.891 % mean: -3.745 % median: -9.238 % TPR: -23.25 % low: -42.818 % |
|
| Earnings Growth | -38.29 % | |
| Earnings Growth QoQ | -140.646 % | |
| Earnings Growth YoY | -21.052 % | |
| Earnings Growth IPRWA | high: 93.436 % mean: -15.092 % median: -33.962 % TPR: -38.29 % low: -130.0 % |
|
| MARGINS | ||
| Gross Margin | 76.877 % | |
| Gross Margin QoQ | 1.872 % | |
| Gross Margin YoY | 1.028 % | |
| Gross Margin IPRWA | TPR: 76.877 % high: 64.226 % mean: 46.076 % median: 40.163 % low: -19.849 % |
|
| EBIT Margin | 22.342 % | |
| EBIT Margin QoQ | -21.753 % | |
| EBIT Margin YoY | 39.107 % | |
| EBIT Margin IPRWA | TPR: 22.342 % high: 22.311 % mean: 9.081 % median: 4.903 % low: -4.024 % |
|
| Return On Sales (ROS) | 22.259 % | |
| Return On Sales QoQ | -22.25 % | |
| Return On Sales YoY | 38.59 % | |
| Return On Sales IPRWA | high: 22.311 % TPR: 22.259 % mean: 9.224 % median: 4.903 % low: -3.476 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 225.8 M | |
| Free Cash Flow Yield | 0.778 % | |
| Free Cash Flow Yield QoQ | -81.334 % | |
| Free Cash Flow Yield YoY | -0.384 % | |
| Free Cash Flow Yield IPRWA | high: 23.646 % mean: 1.073 % TPR: 0.778 % median: 0.323 % low: -12.198 % |
|
| Free Cash Growth | -78.236 % | |
| Free Cash Growth QoQ | -106.554 % | |
| Free Cash Growth YoY | 2.765 % | |
| Free Cash Growth IPRWA | high: 410.499 % median: -26.425 % mean: -74.217 % TPR: -78.236 % low: -734.195 % |
|
| Free Cash To Net Income | 0.657 | |
| Cash Flow Margin | 21.78 % | |
| Cash Flow To Earnings | 1.217 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 5.29 % | |
| Return On Assets QoQ | -39.237 % | |
| Return On Assets YoY | 89.402 % | |
| Return On Assets IPRWA | high: 7.152 % TPR: 5.29 % mean: 2.347 % median: 1.389 % low: -6.605 % |
|
| Return On Capital Employed (ROCE) | 8.598 % | |
| Return On Equity (ROE) | 0.504 | |
| Return On Equity QoQ | -50.525 % | |
| Return On Equity YoY | 270.176 % | |
| Return On Equity IPRWA | TPR: 0.504 high: 0.149 mean: 0.049 median: 0.037 low: -0.276 |
|
| DuPont ROE | 55.741 % | |
| Return On Invested Capital (ROIC) | 11.585 % | |
| Return On Invested Capital QoQ | -40.629 % | |
| Return On Invested Capital YoY | 124.342 % | |
| Return On Invested Capital IPRWA | high: 11.814 % TPR: 11.585 % mean: 3.894 % median: 2.0 % low: -4.05 % |
|