Tapestry Inc (TPR)
Current ratio
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 8,803,700 | 2,363,500 | 2,573,800 | 3,375,300 | 2,553,100 |
| Total current liabilities | US$ in thousands | 1,711,600 | 1,286,500 | 1,468,800 | 1,425,800 | 1,742,100 |
| Current ratio | 5.14 | 1.84 | 1.75 | 2.37 | 1.47 |
June 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $8,803,700K ÷ $1,711,600K
= 5.14
The current ratio of Tapestry Inc has shown fluctuations over the past five years. As of June 30, 2024, the current ratio stands at 5.14, indicating a significant improvement compared to the previous years. This implies that the company's current assets are more than five times its current liabilities, suggesting strong liquidity and ability to meet short-term obligations comfortably.
In the preceding years, the current ratio experienced fluctuations, with a notable increase in 2023, a decrease in 2022, and a comparatively higher ratio in 2021. The lowest current ratio was observed in 2020. These fluctuations may indicate varying levels of liquidity and short-term financial health during those periods.
Overall, the current ratio of Tapestry Inc has shown improvement, particularly in 2024, signifying a positive trend in the company's ability to cover its short-term liabilities with its current assets. Nonetheless, it would be essential to delve deeper into the company's financial statements and industry comparisons to gain a more comprehensive understanding of its liquidity position.
Peer comparison
Jun 30, 2024