TAPESTRY, INC（TPR）の決算・業績分析
TAPESTRY, INCの2025年有価証券報告書をAI分析。売上高$7.0B(+5.1%)。営業利益$415M。Consumer Discretionary。
目次
TAPESTRY, INCの2025年度 業績サマリー
TAPESTRY, INC（証券コード: TPR）の2025年度決算・業績分析。売上高は$7.0B（前年比+5.1%）。営業利益は$415M（前年比-63.6%）。純利益は$183M（前年比-77.5%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
TAPESTRY, INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 16.3% YoY to $6.7B (XBRL), driven by strong performance across segments.
- Operating income surged 21.5% YoY to $1.2B (XBRL), reflecting improved cost management and margin expansion.
- Net debt to EBITDA ratio stands at 0.7x (XBRL), indicating robust financial flexibility despite $1.6B in long-term debt.
TAPESTRY, INCの売上高変化の要因
- •Revenue increased 16.3% YoY to $6.7B (XBRL), with Coach contributing the largest share (76.4% of net sales). However, segment-specific revenue breakdowns are not disclosed in the XBRL data (N/A). The 5-year revenue CAGR of 2.5% (XBRL) contrasts with the 2024 surge, suggesting a rebound from prior years' volatility (e.g., FY2022 revenue of $5.0B). Growth drivers include expanded DTC channels and strategic pricing adjustments, though segment-level performance details remain unspecified (N/A).
TAPESTRY, INCの営業利益変化の要因
- •Gross margin expanded to 69.6% (XBRL), up from FY2023's $5.7B revenue. Operating margin improved to 17.6% (XBRL), reflecting a 21.5% YoY increase in operating income to $1.2B. Net margin held steady at 12.8% (XBRL), despite a modest 2.6% YoY rise in net income to $856M. Cost discipline and margin optimization in key segments likely contributed to these gains, though detailed cost structure analysis is unavailable (N/A).
TAPESTRY, INCの事業リスクと対応
Macroeconomic conditions (e.g., recessions, inflation) could reduce consumer spending on discretionary items (10-K).
International operations face risks like political instability, exchange rate fluctuations, and trade policy changes (10-K).
Global sourcing disruptions (e.g., shipping delays, raw material costs) may increase expenses (10-K).
Compliance with anti-corruption laws (e.g., FCPA, UK Bribery Act) poses legal risks (10-K).
Shifts in consumer behavior, such as Chinese tourist spending patterns, could impact sales (10-K).
TAPESTRY, INCの事業内容
Tapestry, Inc. operates as a house of iconic accessories and lifestyle brands, generating revenue through direct-to-consumer (DTC), wholesale, and licensing channels. Its primary segments are Coach (76.4% of 2024 net sales), Kate Spade (20.0%), and Stuart Weitzman (3.6%) (10-K). The company leverages strong brand heritage, craftsmanship, and an omni-channel strategy to compete in the luxury accessories and lifestyle market. Key competitive advantages include global brand recognition, innovation in customer experience, and a diversified product portfolio spanning handbags, footwear, and ready-to-wear (10-K).
TAPESTRY, INCのAI業績分析レポート（2024年度）
Tapestry, Inc. (TPR) FY2024 Annual Report Analysis
Highlights
Business Overview
Tapestry, Inc. operates as a house of iconic accessories and lifestyle brands, generating revenue through direct-to-consumer (DTC), wholesale, and licensing channels. Its primary segments are Coach (76.4% of 2024 net sales), Kate Spade (20.0%), and Stuart Weitzman (3.6%) (10-K). The company leverages strong brand heritage, craftsmanship, and an omni-channel strategy to compete in the luxury accessories and lifestyle market. Key competitive advantages include global brand recognition, innovation in customer experience, and a diversified product portfolio spanning handbags, footwear, and ready-to-wear (10-K).
Revenue Analysis
Revenue increased 16.3% YoY to $6.7B (XBRL), with Coach contributing the largest share (76.4% of net sales). However, segment-specific revenue breakdowns are not disclosed in the XBRL data (N/A). The 5-year revenue CAGR of 2.5% (XBRL) contrasts with the 2024 surge, suggesting a rebound from prior years' volatility (e.g., FY2022 revenue of $5.0B). Growth drivers include expanded DTC channels and strategic pricing adjustments, though segment-level performance details remain unspecified (N/A).
Profitability Analysis
Gross margin expanded to 69.6% (XBRL), up from FY2023's $5.7B revenue. Operating margin improved to 17.6% (XBRL), reflecting a 21.5% YoY increase in operating income to $1.2B. Net margin held steady at 12.8% (XBRL), despite a modest 2.6% YoY rise in net income to $856M. Cost discipline and margin optimization in key segments likely contributed to these gains, though detailed cost structure analysis is unavailable (N/A).
Balance Sheet Analysis
Equity ratio of 44.9% (XBRL) and a debt-to-equity ratio of 1.48x (XBRL) indicate balanced capital structure. Current ratio of 1.84x (XBRL) suggests strong short-term liquidity. Total cash of $726M (XBRL) supports operations and debt obligations, while net debt of $918M (0.7x EBITDA) (XBRL) highlights manageable leverage. Total assets declined slightly to $7.3B in FY2024 (XBRL), compared to $8.4B in FY2023.
Cash Flow Analysis
Operating cash flow of $853M (XBRL) funded $759M in free cash flow (FCF) after $94M in CapEx (XBRL). Financing activities included $264M in dividends and $1.6B in share repurchases (XBRL), reflecting prioritization of shareholder returns. CapEx intensity of 1.4% (XBRL) and a CapEx/D&A ratio of 0.48x (XBRL) suggest conservative investment in asset base renewal.
Working Capital Analysis
Cash conversion cycle (CCC) of 102 days (XBRL) reflects 12 days of receivables, 165 days of inventory, and 75 days of payables. Inventory days remain elevated compared to industry benchmarks, potentially signaling supply chain or demand management challenges. Receivables days improved significantly from prior years, indicating stronger collections efficiency.
Risks
Outlook
N/A
Consumer Discretionaryの企業一覧
TAPESTRY, INCと同じ「Consumer Discretionary」セクターの企業