Tapestry Inc (TPR)
Receivables turnover
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,671,200 | 6,660,900 | 6,684,500 | 5,746,300 | 4,961,400 |
| Receivables | US$ in thousands | 228,200 | 211,500 | 252,300 | 200,200 | 193,300 |
| Receivables turnover | 29.23 | 31.49 | 26.49 | 28.70 | 25.67 |
June 30, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $6,671,200K ÷ $228,200K
= 29.23
The receivables turnover ratio for Tapestry Inc has fluctuated over the past five years. In particular, it decreased from 31.49 in 2023 to 26.49 in 2022 before increasing to 29.23 in 2024. This indicates that the company’s efficiency in collecting receivables improved in 2024 compared to 2022 but is still slightly lower than in 2023. Overall, a higher receivables turnover ratio is generally preferred as it indicates that the company is collecting its accounts receivable more quickly. It would be beneficial for Tapestry Inc to monitor and potentially improve its receivables turnover in order to optimize its working capital management.
Peer comparison
Jun 30, 2024