Tapestry Inc (TPR)
Fixed asset turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 7,010,700 | 6,878,600 | 6,776,400 | 6,665,500 | 6,671,200 | 6,699,600 | 6,726,700 | 6,667,600 | 6,660,900 | 6,666,300 | 6,594,300 | 6,710,100 | 6,684,500 | 6,675,000 | 6,510,800 | 6,055,000 | 5,746,300 | 4,845,700 | 4,645,100 | 4,775,700 |
| Property, plant and equipment | US$ in thousands | — | 1,717,000 | 1,735,800 | 1,806,600 | — | — | — | 1,891,700 | 1,943,200 | 1,942,000 | 1,929,900 | 1,807,900 | 1,826,000 | 1,936,300 | 2,051,300 | 2,103,100 | 2,174,700 | 673,800 | 730,200 | 753,000 |
| Fixed asset turnover | — | 4.01 | 3.90 | 3.69 | — | — | — | 3.52 | 3.43 | 3.43 | 3.42 | 3.71 | 3.66 | 3.45 | 3.17 | 2.88 | 2.64 | 7.19 | 6.36 | 6.34 |
June 30, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $7,010,700K ÷ $—K
= —
The fixed asset turnover ratio of Tapestry Inc. exhibits notable fluctuations over the analyzed period. At the close of September 2020, the ratio stood at 6.34, reflecting a strong utilization of fixed assets to generate sales. It remained relatively stable through December 2020, showing a marginal increase to 6.36.
However, by March 2021, the ratio experienced a significant rise to 7.19, indicating enhanced efficiency in asset utilization. Subsequently, a substantial decline occurred in June 2021, with the ratio dropping sharply to 2.64, suggesting a decreased efficiency or possible increases in fixed assets not immediately matched by sales growth.
Following this low point, the ratio gradually improved during the latter half of 2021 and into 2022, reaching 3.71 by September 2022. During this period, the ratio stabilized around the low 3s, indicating consistent but modest fixed asset utilization relative to sales.
In 2023, the ratio maintained a generally steady trajectory, fluctuating slightly between approximately 3.4 and 3.5, reflecting stability in the company's fixed asset efficiency. Notably, the ratio increased modestly from 3.43 at the end of March 2023 to 3.52 at the end of September 2023.
Looking ahead into late 2023 and early 2024, the ratio continued an upward trend, reaching 3.69 in September 2024 and further rising to 3.90 by December 2024. This uptick suggests an improvement in the efficiency of fixed asset usage relative to sales. The forecasted ratios for March and June 2025, at 4.01 and beyond, point to a potential continued trend of increasing fixed asset turnover, indicating more effective utilization of fixed assets in generating sales.
In summary, after an initial period of relatively high fixed asset turnover, Tapestry Inc. experienced a decline around mid-2021, followed by a period of stabilization. The recent upward trend in ratios suggests a possible recovery or improvement in fixed asset efficiency, aligning with strategic initiatives aimed at optimizing asset utilization.
Peer comparison
Jun 30, 2025