Tapestry (TPR) FY2023 results: revenue $6.7 billion, down 0.4% on the year
Tapestry, Inc. (TPR) reported revenue of $6.7 billion for fiscal 2023, the year ended 1 July 2023, down 0.4% on the year before. Net income was $936 million, up 9.3%, and diluted earnings per share $3.88. The figures are the company's own, from the 10-K it filed with the SEC on 17 August 2023.
Revenue
$6.7 billion
-0.4% on the year
FY2016FY2023
Operating margin
17.6%
17.6% a year earlier
FY2016FY2023
Net income
$936 million
+9.3% on the year
FY2016FY2023
Diluted EPS
$3.88
+22.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
975
853
1,324
+14.3%
Capital expenditure
184
93.9
116
+96.2%
Free cash flow
791
759
1,208
+4.2%
Free cash flow margin
11.9%
11.4%
21.0%
Cash from investing
5.7
-254
-91.0
Cash from financing
-1,036
-1,778
-666
Depreciation and amortisation
182
195
220
-6.7%
Share-based compensation
78.8
72.2
64.1
+9.1%
Buybacks
704
1,600
0.0
-56.0%
Dividends paid
283
264
0.0
+7.1%
Dividend per share
$1.20
$1.00
$0.00
+20.0%
Diluted shares, weighted
241m
270m
283m
-10.7%
Shares outstanding at period end
227m
241m
280m
-5.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,278
2,286
3,259
-0.3%
Debt
1,661
1,690
1,591
-1.8%
Operating lease liabilities
1,334
1,282
1,526
+4.0%
Finance lease liabilities
1.2
2.4
3.4
-50.0%
Other liabilities
1,843
2,005
2,003
-8.1%
Total liabilities and equity
7,117
7,265
8,382
-2.0%
Goodwill
1,228
1,242
1,297
-1.1%
Intangible assets
1,360
1,367
1,373
-0.5%
Investments
16.7
164
8.2
-89.8%
Cash and equivalents
726
790
2,008
-8.1%
Receivables
212
252
200
-16.2%
Inventory
920
994
735
-7.5%
Other assets
2,655
2,457
2,761
+8.1%
Total assets
7,117
7,265
8,382
-2.0%
10-K for the year ended 1 July 2023, filed 17 August 2023: the filing.