Tapestry Inc (TPR)
Working capital turnover
| 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 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 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 | 4,961,400 | 5,760,300 | 6,019,000 | 6,003,800 |
| Total current assets | US$ in thousands | 8,803,700 | 8,997,000 | 9,042,500 | 2,409,000 | 2,363,500 | 2,218,900 | 2,498,600 | 2,387,400 | 2,573,800 | 2,558,600 | 3,058,500 | 3,086,200 | 3,375,300 | 2,896,600 | 2,877,200 | 2,845,500 | 2,553,100 | 2,131,900 | 2,511,400 | 2,203,900 |
| Total current liabilities | US$ in thousands | 1,711,600 | 1,365,900 | 1,447,600 | 1,194,200 | 1,286,500 | 1,146,100 | 1,338,600 | 1,308,400 | 1,468,800 | 1,733,300 | 1,843,700 | 1,646,600 | 1,425,800 | 1,291,100 | 1,533,100 | 1,819,000 | 1,742,100 | 1,138,900 | 1,252,300 | 1,212,000 |
| Working capital turnover | 0.94 | 0.88 | 0.89 | 5.49 | 6.18 | 6.21 | 5.68 | 6.22 | 6.05 | 8.09 | 5.36 | 4.21 | 2.95 | 3.02 | 3.46 | 4.65 | 6.12 | 5.80 | 4.78 | 6.05 |
June 30, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $6,671,200K ÷ ($8,803,700K – $1,711,600K)
= 0.94
The working capital turnover for Tapestry Inc has shown fluctuations over the past several quarters. A higher working capital turnover indicates better efficiency in managing working capital to generate revenue.
In the latest quarter, the working capital turnover was 0.94, indicating a slight improvement compared to the previous quarter. However, it is lower than the levels seen in the earlier quarters of the year.
The working capital turnover spiked significantly in September 2023 and remained at elevated levels until March 2022, indicating a period of efficient working capital management relative to revenue generation. This could imply effective utilization of current assets and liabilities in generating sales during that time frame.
However, there was a notable decline in working capital turnover from March 2022 to June 2022, followed by a gradual increase in the following quarters. This fluctuation may suggest changes in the company's working capital management strategies or operational performance during this period.
Overall, the trend in working capital turnover for Tapestry Inc reflects variations in the efficiency of working capital utilization to generate sales over the quarters analyzed. Further analysis and consideration of the company's operational and financial activities would be needed to fully understand the factors influencing these fluctuations.
Peer comparison
Jun 30, 2024