TAPESTRY, Inc. (TPR) intrinsic value & 10-year financials
TAPESTRY, Inc. (TPR) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 5.1% a year to $7.0B, with an average return on invested capital of 15.5%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $120.18
- Market cap
- $26.7B
- Revenue (FY2025)
- $7.0B
- Revenue growth (10-yr CAGR)
- 5.1%
- ROIC (10-yr avg)
- 15.5%
- Free cash flow (FY2025)
- $1.1B
TPR 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $7.0B | $183.2M | $0.82 | $1.1B | 5.9% | 8.1% |
| FY2024 | $6.7B | $816.0M | $3.50 | $1.1B | 17.1% | 18.7% |
| FY2023 | $6.7B | $936.0M | $3.88 | $791.0M | 17.6% | 21.2% |
| FY2022 | $6.7B | $856.3M | $3.17 | $759.3M | 17.6% | 21.7% |
| FY2021 | $5.7B | $834.2M | $2.95 | $1.2B | 16.8% | 19.3% |
| FY2020 | $5.0B | -$652.1M | -$2.34 | $201.6M | -11.1% | -12.1% |
| FY2019 | $6.0B | $643.4M | $2.21 | $517.5M | 13.5% | 17.6% |
| FY2018 | $5.9B | $397.5M | $1.38 | $729.3M | 11.4% | 16.1% |
| FY2017 | $4.5B | $591.0M | $2.09 | $570.7M | 17.5% | 26.4% |
| FY2016 | $4.5B | $460.5M | $1.65 | $362.2M | 14.5% | 17.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Tapestry, Inc. has demonstrated mature, steady growth, with revenue compounding at 5.1% annually over the past decade.
Tapestry, Inc. has earned high returns on invested capital, averaging 15.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, Tapestry, Inc. shows that management has aggressively returned capital to shareholders by retiring 20.3% of outstanding shares, and that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Tapestry, Inc. is modeled at -7.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-4.57 per share.