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House of accessible-luxury brands—Coach, Kate Spade, Stuart Weitzman—selling handbags, accessories and footwear.
House of accessible-luxury brands—Coach, Kate Spade, Stuart Weitzman—selling handbags, accessories and footwear.
Sells mostly through its own full-price stores, outlets and websites rather than through department stores, so brand control matters, and Coach carries the group. Originally Coach Inc., it became Tapestry by buying Kate Spade in 2017; a planned purchase of Capri (Michael Kors) was abandoned in 2024 after a US court blocked it.
Moat: narrow (brand, distribution). Established heritage brands, especially Coach, with strong outlet/DTC distribution support pricing power.
Headquarters: New York, New York, US · Founded: 1941 · Employees: 20,600
Size Tapestry (TPR) is a United States Consumer Discretionary company (Apparel/Footwear Retail) with a market value of $26.4B, the 406th largest of 3,117 United States companies the cockpit tracks. Shares closed at $132.80 on 6 Nov 2026.
Performance Over six months the shares fell 0.2%, against +12.1% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 12 in its peer set.
Growth Revenue grew 14.2% over the last twelve months (peer median +11.0%); the operating margin is 24.0% (peer median 10.8%).
Valuation It trades at 15.8× forward earnings against a peer median of 21.9× (3rd cheapest of 11).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 32.2 points above its cost of capital (11.3% WACC).
Credit Tapestry has 3 bonds outstanding ($2.00B), rated BBB+ by the agencies and trading like BBB at a weighted spread of 98 bp.
Short interest Short interest is 8.7% of the free float (15 Oct 2026).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $8.00B | $8.00B | $7.01B | $6.67B | $6.66B |
| Revenue growth | — | +14% | +5% | 0% | — |
| Gross profit | $6.00B | $5.99B | $5.03B | $4.63B | $4.72B |
| EBITDA | $2.13B | $2.13B | $1.48B | $1.55B | $1.36B |
| Net income | $1.53B | $1.53B | $183M | $816M | $936M |
| Free cash flow | $1.81B | $1.81B | $1.09B | $1.15B | $791M |
| Capital expenditure | $166M | $166M | $123M | $109M | $184M |
| Total debt | $3.95B | $3.95B | $3.90B | $8.77B | $3.29B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Tapestry TPR | $26.4B | 0% | +14% | 24% | 15.8× | 9.0% |
| Ralph Lauren RL | $22.4B | +5% | +15% | 17% | 18.6× | 11.0% |
| Capri CPRI | $2.12B | +11% | -14% | 3% | 9.4× | 21.3% |
| LVMH Moet Hennessy Louis Vuitton MC.PA | $226B | -11% | -4% | 22% | 18.6× | 10.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TPR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.7% | +6.5% | 4th highest of 12 |
| 6-month return | -0.2% | +12.1% | 3rd lowest of 12 |
| Distance from 52-week high | -19.4% | -9.4% | 3rd lowest of 12 |
| Revenue growth (TTM) | +14.2% | +11.0% | 5th highest of 12 |
| Operating margin | 24.0% | 10.8% | highest of 12 |
| Forward P/E | 15.8× | 21.9× | 3rd cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | 9.0% | 17.8% | 4th least demanding of 11 |
| Growth delivered (Del g) | +6.9% | +13.8% | 4th lowest of 11 |
| Hurdle (Req g minus delivered) | +2.1 pp | -1.5 pp | 4th most demanding of 11 |
| ROIC minus cost of capital | +32.2 pp | +4.9 pp | highest of 12 |
| EV / EBITDA | 13.7× | 14.5× | 5th cheapest of 11 |
| Net debt / EBITDA | 1.3× | 0.9× | 5th most indebted of 11 |
| Bond spread | 98 bp | 122 bp | 2nd tightest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tapestry TPR | United States | $26.4B | 0% | +14% | 24% | 15.8× | 9.0% | +6.9% |
| H&M Hennes & Mauritz HM-B.ST | Sweden | $29.1B | +12% | -4% | 9% | 22.3× | 4.5% | +4.1% |
| Trent TRENT.NS | India | $17.4B | +8% | +18% | 12% | 75.1× | 60.1% | +50.6% |
| Allegro.eu ALE.WA | Poland | $15.5B | +97% | +8% | 20% | 30.8× | 22.1% | +23.4% |
| Burlington Stores BURL | United States | $15.5B | -19% | +11% | 8% | 20.5× | 18.2% | +14.9% |
| Lpp LPP.WA | Poland | $13.0B | +36% | +15% | 13% | 17.4× | 17.5% | +24.1% |
| Aritzia ATZ.TO | Canada | $12.5B | +9% | +40% | 16% | 27.1× | 22.0% | +34.0% |
| Meesho MEESHO.NS | India | $11.4B | +17% | +34% | -9% | n/a | n/a | n/a |
| Ross Stores ROST | United States | $73.8B | +3% | +14% | 13% | 27.0× | 11.0% | +12.7% |
| Victoria's Secret & VSXY | United States | $8.62B | +125% | +10% | 8% | 21.4× | 20.0% | +3.9% |
| Gap GAP | United States | $7.55B | -8% | +1% | 11% | 8.4× | -2.3% | +2.2% |
| Urban Outfitters URBN | United States | $7.26B | +18% | +11% | 10% | 13.1× | 6.9% | +12.3% |
Tapestry has 3 bonds outstanding with $2.00B face value. The agencies rate it BBB+; its bonds trade like BBB. Weighted yield 5.64%, a spread of 98 bp over government bonds.