Intrinsic value of Tapestry - TPR

Previous Close

$34.73

  Intrinsic Value

$167.35

stock screener

  Rating & Target

str. buy

+382%

Previous close

$34.73

 
Intrinsic value

$167.35

 
Up/down potential

+382%

 
Rating

str. buy

We calculate the intrinsic value of TPR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 10.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  32.90
  30.11
  27.60
  25.34
  23.31
  21.47
  19.83
  18.34
  17.01
  15.81
  14.73
  13.76
  12.88
  12.09
  11.38
  10.74
  10.17
  9.65
  9.19
  8.77
  8.39
  8.05
  7.75
  7.47
  7.23
  7.00
  6.80
  6.62
  6.46
  6.31
Revenue, $m
  5,965
  7,761
  9,903
  12,412
  15,305
  18,592
  22,278
  26,365
  30,849
  35,726
  40,988
  46,626
  52,631
  58,996
  65,711
  72,771
  80,172
  87,911
  95,988
  104,405
  113,166
  122,279
  131,753
  141,598
  151,830
  162,462
  173,514
  185,005
  196,956
  209,392
Variable operating expenses, $m
  5,073
  6,576
  8,368
  10,467
  12,888
  15,638
  18,722
  22,141
  25,894
  29,974
  34,295
  39,012
  44,037
  49,362
  54,980
  60,888
  67,080
  73,555
  80,313
  87,355
  94,686
  102,311
  110,238
  118,476
  127,036
  135,932
  145,179
  154,794
  164,793
  175,199
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  5,073
  6,576
  8,368
  10,467
  12,888
  15,638
  18,722
  22,141
  25,894
  29,974
  34,295
  39,012
  44,037
  49,362
  54,980
  60,888
  67,080
  73,555
  80,313
  87,355
  94,686
  102,311
  110,238
  118,476
  127,036
  135,932
  145,179
  154,794
  164,793
  175,199
Operating income, $m
  892
  1,185
  1,535
  1,945
  2,417
  2,954
  3,556
  4,223
  4,956
  5,752
  6,693
  7,614
  8,595
  9,634
  10,730
  11,883
  13,092
  14,356
  15,675
  17,049
  18,480
  19,968
  21,515
  23,123
  24,794
  26,530
  28,335
  30,211
  32,163
  34,193
EBITDA, $m
  1,186
  1,543
  1,968
  2,467
  3,042
  3,695
  4,428
  5,240
  6,131
  7,101
  8,147
  9,267
  10,461
  11,726
  13,060
  14,463
  15,934
  17,473
  19,078
  20,751
  22,492
  24,303
  26,186
  28,143
  30,177
  32,290
  34,486
  36,770
  39,146
  41,617
Interest expense (income), $m
  35
  85
  136
  197
  270
  355
  453
  565
  691
  830
  982
  1,148
  1,327
  1,519
  1,724
  1,940
  2,169
  2,409
  2,661
  2,924
  3,199
  3,486
  3,784
  4,094
  4,417
  4,752
  5,100
  5,462
  5,838
  6,229
  6,636
Earnings before tax, $m
  807
  1,050
  1,338
  1,675
  2,062
  2,500
  2,991
  3,532
  4,126
  4,769
  5,545
  6,286
  7,075
  7,910
  8,790
  9,714
  10,683
  11,695
  12,750
  13,850
  14,994
  16,184
  17,421
  18,706
  20,042
  21,430
  22,873
  24,373
  25,934
  27,558
Tax expense, $m
  218
  283
  361
  452
  557
  675
  807
  954
  1,114
  1,288
  1,497
  1,697
  1,910
  2,136
  2,373
  2,623
  2,884
  3,158
  3,443
  3,739
  4,048
  4,370
  4,704
  5,051
  5,411
  5,786
  6,176
  6,581
  7,002
  7,441
Net income, $m
  589
  766
  977
  1,223
  1,505
  1,825
  2,183
  2,579
  3,012
  3,482
  4,048
  4,589
  5,165
  5,774
  6,417
  7,092
  7,798
  8,537
  9,308
  10,110
  10,946
  11,814
  12,717
  13,656
  14,631
  15,644
  16,697
  17,792
  18,932
  20,117

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,653
  6,054
  7,725
  9,682
  11,938
  14,502
  17,377
  20,565
  24,063
  27,868
  31,972
  36,370
  41,054
  46,018
  51,256
  56,764
  62,536
  68,573
  74,873
  81,439
  88,273
  95,382
  102,771
  110,451
  118,432
  126,726
  135,346
  144,309
  153,632
  163,332
Adjusted assets (=assets-cash), $m
  4,653
  6,054
  7,725
  9,682
  11,938
  14,502
  17,377
  20,565
  24,063
  27,868
  31,972
  36,370
  41,054
  46,018
  51,256
  56,764
  62,536
  68,573
  74,873
  81,439
  88,273
  95,382
  102,771
  110,451
  118,432
  126,726
  135,346
  144,309
  153,632
  163,332
Revenue / Adjusted assets
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
  1.282
Average production assets, $m
  1,628
  2,119
  2,704
  3,389
  4,178
  5,076
  6,082
  7,198
  8,422
  9,753
  11,190
  12,729
  14,368
  16,106
  17,939
  19,866
  21,887
  24,000
  26,205
  28,502
  30,894
  33,382
  35,969
  38,656
  41,449
  44,352
  47,369
  50,506
  53,769
  57,164
Working capital, $m
  155
  202
  257
  323
  398
  483
  579
  685
  802
  929
  1,066
  1,212
  1,368
  1,534
  1,708
  1,892
  2,084
  2,286
  2,496
  2,715
  2,942
  3,179
  3,426
  3,682
  3,948
  4,224
  4,511
  4,810
  5,121
  5,444
Total debt, $m
  2,509
  3,641
  4,991
  6,573
  8,396
  10,467
  12,791
  15,367
  18,193
  21,267
  24,583
  28,137
  31,922
  35,933
  40,165
  44,615
  49,279
  54,157
  59,247
  64,552
  70,075
  75,818
  81,789
  87,994
  94,443
  101,144
  108,110
  115,352
  122,884
  130,722
Total liabilities, $m
  3,760
  4,891
  6,241
  7,823
  9,646
  11,718
  14,041
  16,617
  19,443
  22,517
  25,833
  29,387
  33,172
  37,183
  41,415
  45,865
  50,529
  55,407
  60,498
  65,803
  71,325
  77,068
  83,039
  89,245
  95,693
  102,394
  109,360
  116,602
  124,135
  131,973
Total equity, $m
  893
  1,162
  1,483
  1,859
  2,292
  2,784
  3,336
  3,949
  4,620
  5,351
  6,139
  6,983
  7,882
  8,836
  9,841
  10,899
  12,007
  13,166
  14,376
  15,636
  16,948
  18,313
  19,732
  21,207
  22,739
  24,331
  25,986
  27,707
  29,497
  31,360
Total liabilities and equity, $m
  4,653
  6,053
  7,724
  9,682
  11,938
  14,502
  17,377
  20,566
  24,063
  27,868
  31,972
  36,370
  41,054
  46,019
  51,256
  56,764
  62,536
  68,573
  74,874
  81,439
  88,273
  95,381
  102,771
  110,452
  118,432
  126,725
  135,346
  144,309
  153,632
  163,333
Debt-to-equity ratio
  2.810
  3.130
  3.370
  3.540
  3.660
  3.760
  3.830
  3.890
  3.940
  3.970
  4.000
  4.030
  4.050
  4.070
  4.080
  4.090
  4.100
  4.110
  4.120
  4.130
  4.130
  4.140
  4.140
  4.150
  4.150
  4.160
  4.160
  4.160
  4.170
  4.170
Adjusted equity ratio
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192
  0.192

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  589
  766
  977
  1,223
  1,505
  1,825
  2,183
  2,579
  3,012
  3,482
  4,048
  4,589
  5,165
  5,774
  6,417
  7,092
  7,798
  8,537
  9,308
  10,110
  10,946
  11,814
  12,717
  13,656
  14,631
  15,644
  16,697
  17,792
  18,932
  20,117
Depreciation, amort., depletion, $m
  294
  357
  433
  522
  625
  741
  872
  1,017
  1,176
  1,349
  1,453
  1,653
  1,866
  2,092
  2,330
  2,580
  2,842
  3,117
  3,403
  3,702
  4,012
  4,335
  4,671
  5,020
  5,383
  5,760
  6,152
  6,559
  6,983
  7,424
Funds from operations, $m
  882
  1,124
  1,410
  1,745
  2,130
  2,567
  3,055
  3,596
  4,188
  4,831
  5,501
  6,242
  7,031
  7,866
  8,747
  9,672
  10,641
  11,654
  12,711
  13,812
  14,958
  16,150
  17,388
  18,676
  20,014
  21,404
  22,849
  24,352
  25,915
  27,541
Change in working capital, $m
  38
  47
  56
  65
  75
  85
  96
  106
  117
  127
  137
  147
  156
  165
  175
  184
  192
  201
  210
  219
  228
  237
  246
  256
  266
  276
  287
  299
  311
  323
Cash from operations, $m
  844
  1,077
  1,355
  1,680
  2,055
  2,481
  2,959
  3,489
  4,071
  4,704
  5,364
  6,096
  6,875
  7,701
  8,572
  9,488
  10,448
  11,453
  12,501
  13,593
  14,730
  15,913
  17,142
  18,420
  19,748
  21,127
  22,562
  24,053
  25,604
  27,218
Maintenance CAPEX, $m
  -159
  -211
  -275
  -351
  -440
  -543
  -659
  -790
  -935
  -1,094
  -1,267
  -1,453
  -1,653
  -1,866
  -2,092
  -2,330
  -2,580
  -2,842
  -3,117
  -3,403
  -3,702
  -4,012
  -4,335
  -4,671
  -5,020
  -5,383
  -5,760
  -6,152
  -6,559
  -6,983
New CAPEX, $m
  -405
  -490
  -585
  -685
  -790
  -897
  -1,006
  -1,116
  -1,224
  -1,331
  -1,436
  -1,539
  -1,639
  -1,737
  -1,833
  -1,927
  -2,020
  -2,113
  -2,205
  -2,298
  -2,392
  -2,488
  -2,586
  -2,688
  -2,793
  -2,903
  -3,017
  -3,137
  -3,263
  -3,395
Cash from investing activities, $m
  -564
  -701
  -860
  -1,036
  -1,230
  -1,440
  -1,665
  -1,906
  -2,159
  -2,425
  -2,703
  -2,992
  -3,292
  -3,603
  -3,925
  -4,257
  -4,600
  -4,955
  -5,322
  -5,701
  -6,094
  -6,500
  -6,921
  -7,359
  -7,813
  -8,286
  -8,777
  -9,289
  -9,822
  -10,378
Free cash flow, $m
  280
  375
  495
  644
  825
  1,041
  1,294
  1,584
  1,912
  2,279
  2,661
  3,103
  3,582
  4,097
  4,647
  5,231
  5,848
  6,498
  7,179
  7,892
  8,637
  9,413
  10,221
  11,061
  11,934
  12,842
  13,785
  14,764
  15,782
  16,840
Issuance/(repayment) of debt, $m
  930
  1,132
  1,350
  1,582
  1,823
  2,071
  2,323
  2,576
  2,827
  3,074
  3,316
  3,553
  3,785
  4,011
  4,232
  4,450
  4,664
  4,878
  5,091
  5,305
  5,522
  5,744
  5,971
  6,205
  6,448
  6,701
  6,966
  7,242
  7,533
  7,838
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  930
  1,132
  1,350
  1,582
  1,823
  2,071
  2,323
  2,576
  2,827
  3,074
  3,316
  3,553
  3,785
  4,011
  4,232
  4,450
  4,664
  4,878
  5,091
  5,305
  5,522
  5,744
  5,971
  6,205
  6,448
  6,701
  6,966
  7,242
  7,533
  7,838
Total cash flow (excl. dividends), $m
  1,209
  1,507
  1,845
  2,225
  2,648
  3,113
  3,617
  4,160
  4,739
  5,352
  5,977
  6,657
  7,367
  8,108
  8,879
  9,681
  10,512
  11,375
  12,270
  13,197
  14,159
  15,156
  16,191
  17,266
  18,383
  19,543
  20,750
  22,006
  23,314
  24,678
Retained Cash Flow (-), $m
  -221
  -269
  -321
  -376
  -433
  -492
  -552
  -612
  -672
  -730
  -788
  -844
  -899
  -953
  -1,006
  -1,057
  -1,108
  -1,159
  -1,210
  -1,261
  -1,312
  -1,365
  -1,419
  -1,475
  -1,532
  -1,592
  -1,655
  -1,721
  -1,790
  -1,862
Prev. year cash balance distribution, $m
  2,330
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  3,318
  1,238
  1,524
  1,849
  2,215
  2,621
  3,065
  3,547
  4,067
  4,622
  5,189
  5,812
  6,468
  7,155
  7,874
  8,623
  9,404
  10,216
  11,060
  11,936
  12,847
  13,791
  14,773
  15,792
  16,850
  17,951
  19,095
  20,285
  21,525
  22,815
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  3,181
  1,133
  1,326
  1,523
  1,717
  1,902
  2,071
  2,217
  2,336
  2,423
  2,464
  2,480
  2,459
  2,402
  2,312
  2,191
  2,046
  1,881
  1,703
  1,517
  1,329
  1,144
  968
  804
  655
  524
  410
  314
  235
  172
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Tapestry, Inc., formerly Coach, Inc., is a design house of luxury accessories and lifestyle collections. The Company's product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman. The North America segment includes sales of Tapestry brand products to North American customers through Tapestry-operated stores (including the Internet) and sales to North American wholesale customers. The International segment operates department store concession shop-in-shop locations and retail and outlet stores, as well as e-commerce Websites. The Stuart Weitzman segment includes sales across the world generated by the Stuart Weitzman brand, primarily through department stores in North America and international locations, and within Stuart Weitzman operated stores (including the Internet) in the United States, Canada and Europe.

FINANCIAL RATIOS  of  Tapestry (TPR)

Valuation Ratios
P/E Ratio 16.6
Price to Sales 2.2
Price to Book 3.3
Price to Tangible Book
Price to Cash Flow 11.5
Price to Free Cash Flow 17.1
Growth Rates
Sales Growth Rate -0.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -30.1%
Cap. Spend. - 3 Yr. Gr. Rate 5.2%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 52.6%
Total Debt to Equity 52.6%
Interest Coverage 23
Management Effectiveness
Return On Assets 11.5%
Ret/ On Assets - 3 Yr. Avg. 10.5%
Return On Total Capital 14.5%
Ret/ On T. Cap. - 3 Yr. Avg. 13.8%
Return On Equity 20.8%
Return On Equity - 3 Yr. Avg. 18.3%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 68.7%
Gross Margin - 3 Yr. Avg. 68.8%
EBITDA Margin 22.4%
EBITDA Margin - 3 Yr. Avg. 20.4%
Operating Margin 17.5%
Oper. Margin - 3 Yr. Avg. 15.6%
Pre-Tax Margin 16.9%
Pre-Tax Margin - 3 Yr. Avg. 15.2%
Net Profit Margin 13.2%
Net Profit Margin - 3 Yr. Avg. 11%
Effective Tax Rate 22.1%
Eff/ Tax Rate - 3 Yr. Avg. 27.6%
Payout Ratio 64%

TPR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TPR stock intrinsic value calculation we used $4488.3 million for the last fiscal year's total revenue generated by Tapestry. The default revenue input number comes from 0001 income statement of Tapestry. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TPR stock valuation model: a) initial revenue growth rate of 32.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for TPR is calculated based on our internal credit rating of Tapestry, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Tapestry.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TPR stock the variable cost ratio is equal to 85.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for TPR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Tapestry.

Corporate tax rate of 27% is the nominal tax rate for Tapestry. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TPR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TPR are equal to 27.3%.

Life of production assets of 7.7 years is the average useful life of capital assets used in Tapestry operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TPR is equal to 2.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3001.9 million for Tapestry - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 288.039 million for Tapestry is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Tapestry at the current share price and the inputted number of shares is $10.0 billion.

COMPANY NEWS

▶ 5 Stocks That Could Offer Safety in the Retail Rout   [Dec-17-18 10:39AM  Barrons.com]
▶ Do Hedge Funds Love Tapestry, Inc. (TPR)?   [Dec-11-18 01:21AM  Insider Monkey]
▶ [$$] Leather trousers, the last taboo   [Dec-07-18 12:00AM  Financial Times]
▶ [$$] Dolce, Gabbana and the business of brand colonialism   [Nov-28-18 08:35PM  Financial Times]
▶ Michael Kors Earnings Top, But Stock Dives On Sales Miss   [Nov-07-18 04:04PM  Investor's Business Daily]
▶ Is Tapestry Inc. an Undervalued Dividend Stock?   [Oct-31-18 06:28PM  Motley Fool]
▶ [$$] Kate Spade Brand Boosts Profits at Tapestry   [11:15AM  The Wall Street Journal]
▶ Tapestry: Fiscal 1Q Earnings Snapshot   [07:27AM  Associated Press]
▶ A Foolish Take: U.S. Teens Love These 5 Handbag Brands   [Oct-29-18 12:00PM  Motley Fool]
▶ Watching Tapestry but Not Ready to Take a Position   [Oct-17-18 11:00AM  TheStreet.com]
▶ Tapestry, Inc. Signs UN Global Compact   [06:45AM  Business Wire]
▶ Michael Kors' Buying Versace Is a Major Fashion Faux Pas   [Oct-05-18 10:52AM  Motley Fool]
▶ How Does Tapestry Inc (NYSE:TPR) Fare As A Dividend Stock?   [Oct-04-18 08:06AM  Simply Wall St.]
▶ Donatella Versaces¬†Latest Gaudy Fashion   [Sep-28-18 05:45AM  Bloomberg]
▶ Building a global luxury brand   [Sep-20-18 05:06PM  Yahoo Finance Video]
▶ [$$] London Fashion Week SS19 highlights   [Sep-16-18 03:36AM  Financial Times]
▶ Handbag sales help carry Coach brand back to full health   [Aug-15-18 04:27PM  MarketWatch]
▶ Redfin Reports Housing Market Troubles   [12:38PM  Motley Fool]
▶ Company News For Aug 15, 2018   [10:21AM  Zacks]
▶ Tapestry Soars Higher, With More Gains Ahead   [08:11AM  TheStreet.com]
▶ Day Ahead: Top 3 Things to Watch   [06:40PM  Investing.com]
▶ Small Caps Lead U.S. Stock Indexes; Turkey Fears Fade   [01:29PM  Investor's Business Daily]
▶ Kate Spade sales soar following designers death   [12:10PM  American City Business Journals]
▶ Tapestry: Fiscal 4Q Earnings Snapshot   [07:04AM  Associated Press]
▶ Tapestry, Inc. to Host Earnings Call   [06:30AM  ACCESSWIRE]
▶ Tapestry's Q4 Earnings Preview   [Aug-13-18 02:08PM  Benzinga]

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