Tapestry (FRA:COY) EBIT : €1,117 Mil (TTM As of Dec. 2023)

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What is Tapestry EBIT?

Tapestry's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was €415 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was €1,117 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Tapestry's annualized ROC % for the quarter that ended in Dec. 2023 was 26.06%. Tapestry's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 76.51%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Tapestry's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 11.02%.

Tapestry EBIT Historical Data

The historical data trend for Tapestry's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Tapestry EBIT Chart

Tapestry Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

EBIT

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720.48

-500.92

804.02

1,045.99

1,080.56

Tapestry Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															401.01	214.17	251.98	235.94	414.76

Competitive Comparison of Tapestry's EBIT

For the Luxury Goods subindustry, Tapestry's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Tapestry's EV-to-EBIT Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Tapestry's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Tapestry's EV-to-EBIT falls into.

Tapestry EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,117 Mil.

Tapestry (FRA:COY) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Tapestry's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	1641.796 * ( 1 - 20.04% )	/	( (5275.404	+	4801.504)	/ 2 )
=	1312.7800816	/	5038.454
=	26.06 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	6692.523	-	818.563	-	( 598.556	-	max(0, 1118.965	-	2257.233	+	598.556	))
=	5275.404

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	12668.722	-	1024.289	-	( 6842.929	-	max(0, 1327.449	-	8291.972	+	6842.929	))
=	4801.504

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Tapestry's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1659.036	/	( ( (1772.523 + max(609.144, 0))	+	(1751.653 + max(203.207, 0)) )	/	2 )
=	1659.036	/	( ( 2381.667	+	1954.86 )	/	2 )
=	1659.036	/	2168.2635
=	76.51 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(248.118	+	883.123	+	296.466)	-	(818.563	+	0	+	0)
=	609.144

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(225.215	+	756.433	+	245.848)	-	(1024.289	+	0	+	0)
=	203.207

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Tapestry's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	1116.841	/	10138.053
	=	11.02 %

Tapestry EBIT Related Terms

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Tapestry (FRA:COY) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Tapestry Inc (FRA:COY) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

TPR:USA TPR:Mexico COY:Germany

Address

10 Hudson Yards, New York, NY, USA, 10001

Website

https://www.tapestry.com

Coach, Kate Spade, and Stuart Weitzman are Tapestry's fashion and accessory brands. The firm's products are sold through about 1,400 company-operated stores, wholesale channels, and e-commerce in North America (66% of fiscal 2023 sales), Europe, Asia (29% of fiscal 2023 sales), and elsewhere. Coach (75% of fiscal 2023 sales) is best known for affordable luxury leather products. Kate Spade (21% of fiscal 2023 sales) is known for colorful patterns and graphics. Women's handbags and accessories produced 69% of Tapestry's sales in fiscal 2023. Stuart Weitzman (4% of sales) generates nearly all its revenue from women's footwear. In August 2023, Tapestry agreed to acquire rival Capri and its three brands, Michael Kors, Versace, and Jimmy Choo.

Tapestry (FRA:COY) Headlines

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