Tapestry, Inc. (TPR) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-58.2%

$50.07

vs $119.89 price

Levered DCF

$60.82

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	19.49×	102.48×	11.79×	10.81×	9.42×	14.49×	-5.68×	14.1×
P/B	43.03×	22.02×	3.32×	4.44×	3.53×	3.71×	1.63×	2.58×
P/S	3.72×	2.69×	1.44×	1.52×	1.21×	2.1×	0.75×	1.5×
EV / EBITDA	15.36×	41.19×	8.97×	9.09×	8.03×	11.38×	-21.41×	8.95×
Gross margin	77.8%	75.4%	73.3%	70.8%	69.6%	71.0%	65.3%	67.3%
Operating margin	23.9%	5.9%	17.1%	17.6%	17.6%	16.8%	-11.1%	13.6%
Net margin	19.1%	2.6%	12.2%	14.1%	12.8%	14.5%	-13.1%	10.7%
Current ratio	1.75×	1.87×	5.14×	1.84×	1.75×	2.37×	1.47×	2.79×
Debt / equity	5.71×	4.55×	3.03×	1.45×	1.43×	1.05×	1.97×	0.46×
Interest coverage	34.68×	4.86×	9.12×	42.48×	20.03×	13.56×	-9.16×	17.11×
Dividend yield	1.1%	1.6%	3.3%	2.8%	3.3%	0.0%	10.3%	4.3%
Payout ratio	21.3%	163.4%	39.4%	30.3%	30.9%	0.0%	-58.3%	60.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	220.7%	21.4%	28.2%	41.1%	37.5%	25.6%	-28.6%	18.3%
Return on invested capital	29.4%	6.6%	7.5%	15.6%	15.7%	12.4%	-7.6%	11.5%
Return on assets	22.8%	2.8%	6.1%	13.2%	11.8%	10.0%	-8.2%	9.4%
Free cash flow yield	6.1%	5.8%	11.9%	7.8%	9.4%	10.0%	5.4%	5.7%
Earnings yield	5.1%	1.0%	8.5%	9.3%	10.6%	6.9%	-17.6%	7.1%
Enterprise value	$32.8B	$21.7B	$12.2B	$12.7B	$10.5B	$13.5B	$6.8B	$9.7B
Net debt / EBITDA	1.4×	5.32×	1.92×	1.84×	1.88×	1.2×	-9.7×	0.59×
Cash conversion cycle (days)	73	113	102	119	111	92	146	120