Tapestry (TPR) FY2016 results: revenue $4.5 billion, up 7.2% on the year
Tapestry, Inc. (TPR) reported revenue of $4.5 billion for fiscal 2016, the year ended 2 July 2016, up 7.2% on the year before. Net income was $460 million, up 14.4%, and diluted earnings per share $1.65. The figures are the company's own, from the 10-K it filed with the SEC on 16 August 2018.
Revenue
$4.5 billion
+7.2% on the year
FY2009FY2016
Operating margin
14.5%
14.7% a year earlier
FY2009FY2016
Net income
$460 million
+14.4% on the year
FY2009FY2016
Diluted EPS
$1.65
+13.8% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
4,492
4,192
4,806
+7.2%
Cost of revenue
1,440
1,283
1,509
+12.3%
Gross profit
3,051
2,909
3,297
+4.9%
Gross margin
67.9%
69.4%
68.6%
Selling, general and administrative
2,398
2,291
2,177
+4.7%
Operating income
654
618
1,120
+5.7%
Operating margin
14.5%
14.7%
23.3%
Interest expense
32.9
11.9
1.7
+176.5%
Pre-tax income
627
612
1,122
+2.5%
Income tax
166
209
341
-20.6%
Effective tax rate
26.5%
34.2%
30.4%
Net income
460
402
781
+14.4%
Net margin
10.3%
9.6%
16.3%
Diluted EPS
$1.65
$1.45
$2.79
+13.8%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
759
937
985
-19.1%
Capital expenditure
396
199
220
+98.9%
Free cash flow
362
738
766
-50.9%
Free cash flow margin
8.1%
17.6%
15.9%
Cash from investing
-810
-613
-708
Cash from financing
-385
389
-748
Depreciation and amortisation
219
241
189
-8.9%
Share-based compensation
86.8
88.9
95.1
-2.4%
Buybacks
0.0
0.0
525
Dividends paid
374
372
376
+0.7%
Dividend per share
$1.35
$1.35
$1.35
0.0%
Diluted shares, weighted
279m
277m
280m
+0.8%
Shares outstanding at period end
278m
277m
274m
+0.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,683
2,490
2,421
+7.8%
Debt
876
890
140
-1.6%
Other liabilities
1,334
1,287
1,102
+3.7%
Total liabilities and equity
4,893
4,667
3,663
+4.8%
Fixed assets
920
733
714
+25.5%
Goodwill
502
434
361
+15.7%
Intangible assets
347
360
9.8
-3.6%
Investments
1,019
640
761
+59.2%
Cash and equivalents
859
1,292
592
-33.5%
Receivables
245
220
199
+11.7%
Inventory
459
485
526
-5.3%
Other assets
542
504
500
+7.5%
Total assets
4,893
4,667
3,663
+4.8%
10-K for the year ended 2 July 2016, filed 16 August 2018: the filing.