Tapestry (TPR) FY2015 results: revenue $4.2 billion, down 12.8% on the year
Tapestry, Inc. (TPR) reported revenue of $4.2 billion for fiscal 2015, the year ended 27 June 2015, down 12.8% on the year before. Net income was $402 million, down 48.5%, and diluted earnings per share $1.45. The figures are the company's own, from the 10-K it filed with the SEC on 14 August 2015.
Revenue
$4.2 billion
-12.8% on the year
FY2008FY2015
Operating margin
14.7%
23.3% a year earlier
FY2008FY2015
Net income
$402 million
-48.5% on the year
FY2008FY2015
Diluted EPS
$1.45
-48.0% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
4,192
4,806
5,075
-12.8%
Cost of revenue
1,283
1,509
1,377
-15.0%
Gross profit
2,909
3,297
3,698
-11.8%
Gross margin
69.4%
68.6%
72.9%
Selling, general and administrative
2,291
2,177
2,174
+5.2%
Operating income
618
1,120
1,525
-44.8%
Operating margin
14.7%
23.3%
30.0%
Interest expense
11.9
1.7
1.4
+600.0%
Pre-tax income
612
1,122
1,521
-45.5%
Income tax
209
341
486
-38.6%
Effective tax rate
34.2%
30.4%
32.0%
Net income
402
781
1,034
-48.5%
Net margin
9.6%
16.3%
20.4%
Diluted EPS
$1.45
$2.79
$3.61
-48.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
937
985
1,414
-4.9%
Capital expenditure
199
220
241
-9.2%
Free cash flow
738
766
1,173
-3.6%
Free cash flow margin
17.6%
15.9%
23.1%
Cash from investing
-613
-708
-570
Cash from financing
389
-748
-689
Depreciation and amortisation
241
189
163
+27.1%
Share-based compensation
88.9
95.1
120
-6.5%
Buybacks
0.0
525
400
Dividends paid
372
376
340
-1.2%
Dividend per share
$1.35
$1.35
$1.24
0.0%
Diluted shares, weighted
277m
280m
286m
-1.1%
Shares outstanding at period end
277m
274m
282m
+0.8%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,490
2,421
2,409
+2.9%
Debt
890
140
1.0
+533.7%
Other liabilities
1,287
1,102
1,122
+16.8%
Total liabilities and equity
4,667
3,663
3,532
+27.4%
Fixed assets
733
714
695
+2.6%
Goodwill
434
361
345
+20.1%
Intangible assets
360
9.8
9.8
+3,577.0%
Investments
640
761
269
-15.9%
Cash and equivalents
1,292
592
1,063
+118.2%
Receivables
220
199
175
+10.5%
Inventory
485
526
525
-7.8%
Other assets
504
500
450
+0.7%
Total assets
4,667
3,663
3,532
+27.4%
10-K for the year ended 27 June 2015, filed 14 August 2015: the filing.