Tapestry, Inc. (TPR) Cash Flow Statement
Where TPR’s cash came from and went, FY2026
June 30, 2026 · U.S. dollars- Cash from operations
- $1.98B +62.6% vs FY2025
- Capital expenditures
- $166.0M 2.1% of revenue
- Free cash flow
- $1.81B 22.6% margin
- Returned to shareholders
- $1.88B 104% of free cash flow
- Change in cash
- −$125.3M cash at year-end $974.7M
Drawn to scale: where the cash came from and how it was used. Hover for values.
TPR operating cash flow, capex and free cash flow
TPR cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $853.8MFY2017 | $1.98BFY2026 | +9.8%/yr | |
| Capital expenditures | $283.1MFY2017 | $166.0MFY2026 | −5.8%/yr | |
| Free cash flow | $570.7MFY2017 | $1.81BFY2026 | +13.7%/yr | |
| Free cash flow margin | 12.7%FY2017 | 22.6%FY2026 | +9.9 pts | |
| Operating cash flow / net income | 1.44FY2017 | 1.30FY2026 | −0.15 | |
| Stock-based compensation | $73.6MFY2017 | $104.5MFY2026 | +4.0%/yr | |
| Dividends paid | $378.0MFY2017 | $326.1MFY2026 | −1.6%/yr | |
| Share buybacks (net) | $21.5MFY2017 | $1.55BFY2026 | +60.9%/yr | |
| Capex / revenue | 6.3%FY2017 | 2.1%FY2026 | −4.2 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TPR cash flow by activity
TPR net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
TPR cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $1.53B | $183.2M | $816.0M | $936.0M | $856.3M | $834.2M | −$652.1M | $643.4M | $397.5M | $591.0M |
| Depreciation & amortization | $217.2M | $224.9M | $229.0M | $182.2M | $195.3M | $218.7M | $248.3M | $268.2M | $260.3M | $212.8M |
| Stock-based compensation | $104.5M | $87.3M | $85.9M | $78.8M | $72.2M | $64.1M | $53.1M | $84.8M | $81.3M | $73.6M |
| Change in working capital | −$12.0M | −$39.3M | $167.9M | −$216.8M | −$366.8M | $230.3M | −$80.3M | −$273.3M | $169.2M | −$96.5M |
| Other non-cash items | $141.1M | $760.5M | −$43.2M | −$5.0M | $96.2M | −$23.6M | $838.0M | $68.6M | $88.4M | $72.9M |
| Cash from operating activities | $1.98B | $1.22B | $1.26B | $975.2M | $853.2M | $1.32B | $407.0M | $791.7M | $996.7M | $853.8M |
| Investing activities | ||||||||||
| Capital expenditures | −$166.0M | −$122.7M | −$108.9M | −$184.2M | −$93.9M | −$116.0M | −$205.4M | −$274.2M | −$267.4M | −$283.1M |
| Investments (net) | −$161.4M | $914.0M | −$1.04B | $5.7M | −$540.4M | $1.1M | $249.7M | −$256.5M | $478.4M | $748.3M |
| Acquisitions & other investing | $109.1M | $122.7M | $108.9M | $184.2M | $380.7M | $23.9M | $0 | −$43.5M | −$2.38B | $127.8M |
| Cash from investing activities | −$218.3M | $914.0M | −$1.04B | $5.7M | −$253.6M | −$91.0M | $44.3M | −$574.2M | −$2.16B | $593.0M |
| Financing activities | ||||||||||
| Dividends paid | −$326.1M | −$299.3M | −$321.4M | −$283.3M | −$264.4M | −$53.7M | −$380.3M | −$390.7M | −$384.1M | −$378.0M |
| Share repurchases & issuance (net) | −$1.55B | −$2.02B | −$32.7M | −$703.5M | −$1.60B | −$7.5M | −$300.0M | −$100.0M | −$31.5M | −$21.5M |
| Net borrowing (repayment) | −$17.0M | −$4.90B | $5.62B | −$31.2M | $98.5M | −$712.3M | $700.0M | −$700,000 | −$800,000 | $702.4M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $36.8M | $41.5M | −$52.2M | −$17.9M | −$12.2M | $107.5M | −$13.8M | $6.5M | $166.5M | $66.6M |
| Cash from financing activities | −$1.86B | −$7.18B | $5.21B | −$1.04B | −$1.78B | −$666.0M | $5.9M | −$484.9M | −$249.9M | $369.5M |
| Summary | ||||||||||
| Net change in cash | −$125.3M | −$5.04B | $5.42B | −$63.7M | −$1.22B | $581.4M | $457.1M | −$274.2M | −$1.43B | $1.81B |
| Cash at end of period | $974.7M | $1.10B | $6.14B | $726.1M | $789.8M | $2.01B | $1.43B | $969.2M | $1.24B | $2.67B |
| Free cash flow | $1.81B | $1.09B | $1.15B | $791.0M | $759.3M | $1.21B | $201.6M | $517.5M | $729.3M | $570.7M |
| Free cash flow margin | 22.6% | 15.6% | 17.2% | 11.9% | 11.4% | 21.0% | 4.1% | 8.6% | 12.4% | 12.7% |
| Capex / revenue | 2.1% | 1.8% | 1.6% | 2.8% | 1.4% | 2.0% | 4.1% | 4.5% | 4.5% | 6.3% |
| Operating cash flow / net income | 1.30 | 6.64 | 1.54 | 1.04 | 1.00 | 1.59 | — | 1.23 | 2.51 | 1.44 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $347.8M | $343.8M | $561.3M | $274.8M | −$517.1M | $203.3M | $310.4M | $186.6M | $159.3M | $139.4M | $322.3M | $195.0M |
| Depreciation & amortization | $58.6M | $53.9M | $53.1M | $51.6M | $61.5M | $53.0M | $55.5M | $54.9M | $103.2M | $54.3M | $54.9M | $44.3M |
| Stock-based compensation | $25.5M | $27.6M | $29.0M | $22.4M | $22.2M | $24.2M | $21.8M | $19.1M | $20.1M | $23.6M | $22.5M | $19.7M |
| Change in working capital | −$12.0M | $109.2M | $182.7M | −$291.9M | $223.3M | −$154.2M | $14.1M | −$122.5M | $51.5M | −$75.6M | $378.0M | −$213.7M |
| Other non-cash items | $102.3M | −$271.9M | $255.0M | $55.7M | $656.9M | $18.0M | $104.2M | −$18.6M | −$78.1M | −$43.9M | $48.8M | $30.0M |
| Cash from operating activities | $522.2M | $262.6M | $1.08B | $112.6M | $446.8M | $144.3M | $506.0M | $119.5M | $256.0M | $97.8M | $826.5M | $75.3M |
| Investing activities | ||||||||||||
| Capital expenditures | −$53.2M | −$36.8M | −$43.6M | −$32.4M | −$35.3M | −$30.9M | −$30.9M | −$25.6M | −$46.2M | −$19.0M | −$22.8M | −$20.9M |
| Investments (net) | −$154.7M | $1.0M | $200,000 | $69.3M | −$34.2M | −$31.2M | $789.3M | $190.1M | −$555.8M | $168.9M | −$632.2M | −$22.8M |
| Acquisitions & other investing | $0 | −$500,000 | $0 | $32.4M | $35.3M | $30.9M | $30.9M | $25.6M | $46.2M | $19.0M | $22.8M | $20.9M |
| Cash from investing activities | −$207.9M | −$36.3M | −$43.4M | $69.3M | −$34.2M | −$31.2M | $789.3M | $190.1M | −$555.8M | $168.9M | −$632.2M | −$22.8M |
| Financing activities | ||||||||||||
| Dividends paid | −$80.5M | −$81.0M | −$81.3M | −$83.3M | −$72.8M | −$72.7M | −$72.4M | −$81.4M | −$80.5M | −$80.5M | −$80.2M | −$80.2M |
| Share repurchases & issuance (net) | −$302.7M | −$150.2M | −$403.5M | −$698.2M | −$3.4M | −$2.3M | −$2.01B | −$34.5M | −$700,000 | −$100,000 | −$2.9M | −$31.6M |
| Net borrowing (repayment) | $0 | −$17.0M | −$240.0M | $240.0M | −$302.4M | $16.1M | −$4.61B | −$300,000 | — | — | — | −$6.6M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $7.6M | $19.4M | $19.1M | −$9.3M | $11.8M | $26.3M | −$3.8M | $41.7M | −$438.0M | $5.0M | $6.04B | −$31.0M |
| Cash from financing activities | −$375.6M | −$228.8M | −$705.7M | −$550.8M | −$366.8M | −$32.6M | −$6.70B | −$74.5M | −$519.2M | −$75.6M | $5.96B | −$149.4M |
| Summary | ||||||||||||
| Net change in cash | −$71.8M | −$6.8M | $333.8M | −$380.5M | $62.3M | $54.3M | −$5.48B | $320.9M | −$833.1M | $142.0M | $6.21B | −$104.0M |
| Cash at end of period | $974.7M | $1.05B | $1.05B | $719.5M | $1.10B | $1.04B | $983.4M | $6.46B | $6.14B | $6.98B | $6.83B | $622.1M |
| Free cash flow | $469.0M | $186.6M | $1.08B | $80.2M | $411.5M | $113.4M | $475.1M | $93.9M | $209.8M | $78.8M | $803.7M | $54.4M |
| Free cash flow margin | 25.0% | 9.7% | 43.0% | 4.7% | 23.9% | 7.2% | 21.6% | 6.2% | 13.2% | 5.3% | 38.6% | 3.6% |
| Capex / revenue | 2.8% | 1.9% | 1.7% | 1.9% | 2.0% | 2.0% | 1.4% | 1.7% | 2.9% | 1.3% | 1.1% | 1.4% |
| Operating cash flow / net income | 1.50 | 0.76 | 1.93 | 0.41 | — | 0.71 | 1.63 | 0.64 | 1.61 | 0.70 | 2.56 | 0.39 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
TPR cash generation
In fiscal 2026 (ended June 30, 2026), Tapestry generated $2.0 billion of cash from operations (up 62.6%) and spent $166.0 million on capital expenditures, leaving free cash flow of $1.8 billion, 22.6% of revenue. It returned $1.9 billion to shareholders through dividends ($326.1 million) and net share buybacks ($1.6 billion). Cash and equivalents fell by $125.3 million over the year.
Related: TPR income statement, TPR balance sheet, TPR dividend history. See the TPR stock overview for the latest quote and news.
TPR cash flow FAQ
What is Tapestry's free cash flow?
Tapestry's free cash flow was $1.8 billion in fiscal 2026: $2.0 billion of operating cash flow minus $166.0 million of capital expenditures It was $1.1 billion a year earlier..
How much cash does Tapestry generate from operations?
Tapestry generated $2.0 billion of cash from operating activities in fiscal 2026, 1.30 times its net income of $1.5 billion.
How much does Tapestry spend on capital expenditures?
Tapestry spent $166.0 million on capital expenditures in fiscal 2026, 2.1% of revenue, compared with $122.7 million the year before.
How much stock does Tapestry buy back?
Tapestry spent $1.6 billion on net share repurchases in fiscal 2026.
How much does Tapestry pay in dividends?
Tapestry paid $326.1 million in dividends in fiscal 2026, 18.0% of free cash flow.