Tapestry (TPR) financial statements
Tapestry reported revenue of $8.0B in fiscal 2026, up 6.6% a year over 9 years.
Net income was $1.5B and the operating margin 23.9%, against 17.5% in 2017.
Free cash flow was $1.8B, and the company returned $326M in dividends and $1.6B in net buybacks.
The diluted share count fell 26% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Tapestry's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.5B | $5.9B | $6.0B | $5.0B | $5.7B | $6.7B | $6.7B | $6.7B | $7.0B | $8.0B |
| Cost of revenue | $1.4B | $2.0B | $2.0B | $1.7B | $1.7B | $2.0B | $1.9B | $1.8B | $1.7B | $1.8B |
| Gross profit | $3.1B | $3.8B | $4.1B | $3.2B | $4.1B | $4.7B | $4.7B | $4.9B | $5.3B | $6.2B |
| Selling, general and admin | $2.3B | $3.2B | $3.2B | — | $3.1B | $3.5B | $3.5B | $3.7B | $4.0B | $4.3B |
| Operating income | $787M | $672M | $820M | -$551M | $968M | $1.2B | $1.2B | $1.1B | $415M | $1.9B |
| Interest expense | $27M | $86M | $67M | $72M | $74M | $69M | $73M | $370M | $271M | $119M |
| Pre-tax income | $759M | $597M | $766M | -$624M | $897M | $1.0B | $1.1B | $1.0B | $216M | $1.9B |
| Income tax | $168M | $199M | $123M | $28M | $63M | $191M | $207M | $196M | $33M | $333M |
| Net income | $591M | $398M | $643M | -$652M | $834M | $856M | $936M | $816M | $183M | $1.5B |
| EPS (diluted) | $2.09 | $1.38 | $2.21 | -$2.34 | $2.95 | $3.17 | $3.88 | $3.50 | $0.82 | $7.27 |
| Diluted shares | 283M | 289M | 291M | 279M | 283M | 270M | 241M | 233M | 222M | 210M |
| Gross margin | 68.6% | 65.5% | 67.3% | 65.3% | 71.0% | 69.6% | 70.8% | 73.3% | 75.4% | 77.8% |
| Operating margin | 17.5% | 11.4% | 13.6% | -11.1% | 16.8% | 17.6% | 17.6% | 17.1% | 5.9% | 23.9% |
| Net margin | 13.2% | 6.8% | 10.7% | -13.1% | 14.5% | 12.8% | 14.1% | 12.2% | 2.6% | 19.1% |
Balance sheet
Fiscal years, from Tapestry's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $3.1B | $7M | $265M | $8M | $2.0B | $953M | $742M | $7.2B | $1.1B | $1.2B |
| Receivables | $268M | $314M | $298M | $193M | $200M | $252M | $212M | $228M | $239M | $237M |
| Inventory | $470M | $674M | $778M | $737M | $735M | $994M | $920M | $825M | $861M | $826M |
| Total current assets | $4.0B | $2.4B | $2.6B | $2.6B | $3.4B | $2.6B | $2.4B | $8.8B | $2.9B | $2.9B |
| Property, plant and equipment | $691M | $885M | $939M | $775M | $678M | $544M | $564M | $515M | $490M | $502M |
| Goodwill | $480M | $1.5B | $1.5B | $1.3B | $1.3B | $1.2B | $1.2B | $1.2B | $983M | $958M |
| Total assets | $5.8B | $6.7B | $6.9B | $7.9B | $8.4B | $7.3B | $7.1B | $13.4B | $6.6B | $6.7B |
| Total current liabilities | $754M | $938M | $918M | $1.7B | $1.4B | $1.5B | $1.3B | $1.7B | $1.6B | $1.6B |
| Long-term debt | $1.6B | $1.6B | $1.6B | $1.6B | $1.6B | $1.7B | $1.6B | $7.0B | $2.4B | $2.4B |
| Total liabilities | $2.8B | $3.4B | $3.4B | $5.6B | $5.1B | $5.0B | $4.8B | $10.5B | $5.7B | $6.0B |
| Shareholders' equity | $3.0B | $3.2B | $3.5B | $2.3B | $3.3B | $2.3B | $2.3B | $2.9B | $858M | $692M |
| Net debt | -$1.1B | $375M | $648M | $885M | -$408M | $910M | $943M | $1.2B | $1.3B | $1.4B |
Cash flow
Fiscal years, from Tapestry's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $854M | $998M | $792M | $407M | $1.3B | $853M | $975M | $1.3B | $1.2B | $2.0B |
| Capital spending | $283M | $267M | $274M | $205M | $116M | $94M | $184M | $109M | $123M | $166M |
| Free cash flow | $571M | $730M | $518M | $202M | $1.2B | $759M | $791M | $1.1B | $1.1B | $1.8B |
| Stock-based compensation | $74M | $81M | $85M | $53M | $64M | $72M | $79M | $86M | $87M | $104M |
| Dividends paid | $378M | $384M | $391M | $380M | $0 | $264M | $283M | $321M | $299M | $326M |
| Share buybacks (net) | $0 | $0 | -$100M | -$300M | $0 | -$1.6B | -$704M | $0 | -$1.7B | -$1.6B |
| Net borrowing | $712M | $0 | $0 | $0 | -$12M | $98M | -$31M | $5.6B | -$4.9B | $0 |
| Free cash flow margin | 12.7% | 12.4% | 8.6% | 4.1% | 21.0% | 11.4% | 11.9% | 17.2% | 15.6% | 22.6% |
| Dividends per share | $1.34 | $1.33 | $1.34 | $1.37 | — | $0.98 | $1.17 | $1.38 | $1.35 | $1.55 |
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Open TPR in InvestinglyQuestions
What was Tapestry's revenue in 2026?
$8.0B in fiscal 2026, from its 10-K filing.
How much free cash flow does Tapestry generate?
$1.8B in fiscal 2026 (operating cash flow minus capital spending).
From Tapestry's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.