Tapestry (TPR) FY2018 results: revenue $5.9 billion, up 31.0% on the year
Tapestry, Inc. (TPR) reported revenue of $5.9 billion for fiscal 2018, the year ended 30 June 2018, up 31.0% on the year before. Net income was $398 million, down 32.7%, and diluted earnings per share $1.38. The figures are the company's own, from the 10-K it filed with the SEC on 16 August 2018.
Revenue
$5.9 billion
+31.0% on the year
FY2011FY2018
Operating margin
11.4%
17.5% a year earlier
FY2011FY2018
Net income
$398 million
-32.7% on the year
FY2011FY2018
Diluted EPS
$1.38
-34.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
5,880
4,488
4,492
+31.0%
Cost of revenue
2,032
1,407
1,440
+44.4%
Gross profit
3,854
3,081
3,051
+25.1%
Gross margin
65.5%
68.6%
67.9%
Selling, general and administrative
3,183
2,294
2,398
+38.8%
Operating income
671
787
654
-14.8%
Operating margin
11.4%
17.5%
14.5%
Interest expense
86.3
26.8
32.9
+222.0%
Pre-tax income
597
759
627
-21.4%
Income tax
199
168
166
+18.6%
Effective tax rate
33.4%
22.1%
26.5%
Net income
398
591
460
-32.7%
Net margin
6.8%
13.2%
10.3%
Diluted EPS
$1.38
$2.09
$1.65
-34.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
997
854
759
+16.7%
Capital expenditure
267
283
396
-5.5%
Free cash flow
729
571
362
+27.8%
Free cash flow margin
12.4%
12.7%
8.1%
Cash from investing
-2,165
593
-810
Cash from financing
-251
370
-385
Depreciation and amortisation
271
219
219
+23.9%
Share-based compensation
81.3
73.6
86.8
+10.5%
Buybacks
0.0
0.0
0.0
Dividends paid
384
378
374
+1.6%
Dividend per share
$1.35
$1.35
$1.35
0.0%
Diluted shares, weighted
289m
283m
279m
+2.1%
Shares outstanding at period end
288m
282m
278m
+2.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,245
3,002
2,683
+8.1%
Debt
1,600
1,580
876
+1.3%
Other liabilities
1,834
1,250
1,334
+46.7%
Total liabilities and equity
6,678
5,832
4,893
+14.5%
Fixed assets
885
691
920
+28.1%
Goodwill
1,484
480
502
+208.9%
Intangible assets
1,733
341
347
+408.5%
Investments
6.6
486
1,019
-98.6%
Cash and equivalents
1,243
2,673
859
-53.5%
Receivables
314
268
245
+17.2%
Inventory
674
470
459
+43.5%
Other assets
338
422
542
-20.0%
Total assets
6,678
5,832
4,893
+14.5%
10-K for the year ended 30 June 2018, filed 16 August 2018: the filing.