Tapestry Inc (TPR)
Operating profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 415,000 | 1,233,500 | 1,184,100 | 1,138,900 | 1,140,100 | 1,178,700 | 1,200,700 | 1,171,300 | 1,172,400 | 1,147,300 | 1,090,500 | 1,135,100 | 1,175,800 | 1,187,000 | 1,134,200 | 1,060,800 | 968,000 | 428,300 | -373,900 | -400,200 |
| 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 |
| Operating profit margin | 5.92% | 17.93% | 17.47% | 17.09% | 17.09% | 17.59% | 17.85% | 17.57% | 17.60% | 17.21% | 16.54% | 16.92% | 17.59% | 17.78% | 17.42% | 17.52% | 16.85% | 8.84% | -8.05% | -8.38% |
June 30, 2025 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $415,000K ÷ $7,010,700K
= 5.92%
The operating profit margin of Tapestry Inc. exhibits significant fluctuations over the analyzed period. Starting from a negative margin of -8.38% as of September 30, 2020, the figure improved markedly by March 31, 2021, reaching 8.84%, indicating a transition from operating losses to profitability. This positive trend persisted through subsequent quarters, with margins expanding to 16.85% by June 30, 2021, and remaining above 16% through 2022, peaking at 17.78% on March 31, 2022.
Throughout 2022, the operating profit margin showed slight decline but remained relatively stable, moving from 17.78% in early 2022 to approximately 16.54% by December 31, 2022. In 2023, the margin maintained a consistent range around 17.2% to 17.6%, suggesting steady operational efficiency, culminating in a marginal increase to 17.85% on December 31, 2023.
Entering 2024, the margin experienced minor oscillations, ending at 17.47% on December 31, 2024. The latest available data shows an increase to 17.93% as of March 31, 2025, indicating sustained operational profitability at a higher level compared to prior years. However, a notable deviation appears in the most recent quarter, with a sharp reduction to 5.92% on June 30, 2025, signaling a potential decline in operating efficiency or increased operational costs.
Overall, Tapestry Inc.'s operating profit margin demonstrates a strong recovery post-2020, stabilizing around the 17-18% range for much of the recent periods, reflecting effective management of operating expenses relative to revenue. The abrupt decline in mid-2025 warrants further investigation to assess underlying causes such as margin compression, increased costs, or strategic adjustments.
Peer comparison
Jun 30, 2025