TPR (Tapestry) Scaled Net Operating Assets: 0.54 (As of Mar. 2026)


TPR Tapestry Inc TPR
77 GF Score
Price $149.75
GF Value $76.74
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Tapestry Scaled Net Operating Assets?

Tapestry TPR -0.52% 77 Scaled Net Operating Assets is 0.54 as of Mar. 2026. GuruFocus rates TPR with a GF Score™ of 77/100 and a GF Value™ of $76.74 (Significantly Overvalued). The stock has 5 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Tapestry's operating assets for the quarter that ended in Mar. 2026 was $5,398 Mil. Tapestry's operating liabilities for the quarter that ended in Mar. 2026 was $1,861 Mil. Tapestry's Total Assets for the quarter that ended in Dec. 2025 was $6,531 Mil. Therefore, Tapestry's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.54.

Tapestry Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Tapestry's Scaled Net Operating Assets 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.

Tapestry Scaled Net Operating Assets Chart

Tapestry Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.59 0.55 0.67 0.63 0.27

Tapestry Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.63 0.50 0.59 0.54 0.54

TPR vs SIG, CPRI, REAL: Scaled Net Operating Assets Comparison

For the Luxury Goods subindustry, Tapestry's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Tapestry's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Tapestry's Scaled Net Operating Assets falls into.


TPR
77GF Score
Tapestry Inc TPR
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Tapestry Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Tapestry's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Jun. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Jun. 2025 )
=(Operating Assets (A: Jun. 2025 )-Operating Liabilities (A: Jun. 2025 ))/Total Assets (A: Jun. 2024 )
=(5460.9-1823.5)/13396.3
=0.27

where

Operating Assets(A: Jun. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6580.5 - 1119.6
=5460.9

Operating Liabilities(A: Jun. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=5722.7 - 3583.5 - 315.7
=1823.5

Tapestry's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(5398.1-1861.1)/6531
=0.54

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6466.7 - 1068.6
=5398.1

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=5784.3 - 3612.9 - 310.3
=1861.1

* 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.

What does a Scaled Net Operating Assets of 0.54 mean?
Tapestry (TPR) has a Scaled Net Operating Assets of 0.54 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Tapestry and its competitors.
Is Tapestry's Scaled Net Operating Assets too high?
Tapestry's current Scaled Net Operating Assets is 0.54. Overall, Tapestry has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tapestry's Scaled Net Operating Assets compare to SIG and CPRI?
Tapestry's Scaled Net Operating Assets of 0.54 can be compared against companies in the Retail - Cyclical industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Retail - Cyclical company?
A good Scaled Net Operating Assets depends on the Retail - Cyclical industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Tapestry and its competitors. Tapestry's current Scaled Net Operating Assets is 0.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tapestry stock overvalued right now?
Based on GuruFocus' analysis, Tapestry (TPR) is currently considered Significantly Overvalued. The stock's GF Value™ is $76.74, compared to a current price of $149.75 — trading 95.1% above its estimated fair value. The current Scaled Net Operating Assets is 0.54. Tapestry's overall GF Score™ is 77/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Tapestry (TPR), the current Scaled Net Operating Assets is 0.54 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Tapestry (TPR) Overvalued in 2026?

Based on GuruFocus' analysis, Tapestry stock appears to be overvalued. The current stock price of $149.75 is trading 95.1% above its estimated GF Value™ of $76.74. GuruFocus considers Tapestry to be Significantly Overvalued.

Key valuation signals for TPR:

  • Scaled Net Operating Assets: 0.54
  • GF Value™: $76.74 vs. price of $149.75 (95.1% above fair value)
  • GF Score™: 77/100 with 5 warning signs

No single metric tells the full story. See the TPR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Tapestry Business Description

Address 10 Hudson Yards, New York, NY, USA, 10001
Based in New York City, Tapestry is the parent company of accessories and fashion brand Coach, which accounted for 80% of its revenue and well over 90% of its operating profit in fiscal 2025. Handbags accounted for 58% of the brand's fiscal 2025 revenue. Coach products are sold through more than 950 company-owned stores, company-operated digital channels, and wholesale partners in North America, Asia, and Europe. Tapestry also owns Kate Spade (17% of fiscal 2025 revenue), which operates about 335 worldwide stores and generated 52% of its sales from handbags in fiscal 2025. Kate Spade is known for its colorful patterns and graphics. Tapestry sold its smallest brand, luxury footwear maker Stuart Weitzman, to Caleres in August 2025.
77GF Score

Get the complete analysis for TPR

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$149.75
Price
$76.74
GF Value