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Side-by-side financial comparison of Tapestry, Inc. (TPR) and Zoetis (ZTS). Click either name above to swap in a different company.
Tapestry, Inc. is the larger business by last-quarter revenue ($2.5B vs $2.4B, roughly 1.0× Zoetis). Zoetis runs the higher net margin — 25.3% vs 22.4%, a 2.8% gap on every dollar of revenue. On growth, Tapestry, Inc. posted the faster year-over-year revenue change (14.0% vs 3.0%). Tapestry, Inc. produced more free cash flow last quarter ($1.0B vs $732.0M). Over the past eight quarters, Tapestry, Inc.'s revenue compounded faster (29.9% CAGR vs 4.4%).
Tapestry, Inc. is a leading American multinational luxury fashion holding company. It owns three iconic lifestyle brands: Coach, Kate Spade New York, and Stuart Weitzman, offering premium handbags, apparel, footwear, accessories, and fragrances to global consumers via physical retail stores and e-commerce platforms.
Zoetis Inc. (/zō-EH-tis/) is an American drug company, the world's largest producer of medicine and vaccinations for pets and livestock. The company was a subsidiary of Pfizer, the world's largest drug maker, but with Pfizer's spinoff of its 83% interest in the firm it is now a completely independent company. The company directly markets its products in approximately 45 countries, and sells them in more than 100 countries. Operations outside the United States accounted for 50% of the total re...
TPR vs ZTS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.5B | $2.4B |
| Net Profit | $561.3M | $603.0M |
| Gross Margin | 75.5% | 70.2% |
| Operating Margin | 28.6% | 31.9% |
| Net Margin | 22.4% | 25.3% |
| Revenue YoY | 14.0% | 3.0% |
| Net Profit YoY | 80.8% | 3.8% |
| EPS (diluted) | $2.68 | $1.37 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.5B | $2.4B | ||
| Q3 25 | $1.7B | $2.4B | ||
| Q2 25 | $1.7B | $2.5B | ||
| Q1 25 | $1.6B | $2.2B | ||
| Q4 24 | $2.2B | $2.3B | ||
| Q3 24 | $1.5B | $2.4B | ||
| Q2 24 | $1.6B | $2.4B | ||
| Q1 24 | $1.5B | $2.2B |
| Q4 25 | $561.3M | $603.0M | ||
| Q3 25 | $274.8M | $721.0M | ||
| Q2 25 | $-517.1M | $718.0M | ||
| Q1 25 | $203.3M | $631.0M | ||
| Q4 24 | $310.4M | $581.0M | ||
| Q3 24 | $186.6M | $682.0M | ||
| Q2 24 | $159.3M | $624.0M | ||
| Q1 24 | $139.4M | $599.0M |
| Q4 25 | 75.5% | 70.2% | ||
| Q3 25 | 76.3% | 71.5% | ||
| Q2 25 | 76.3% | 73.6% | ||
| Q1 25 | 76.1% | 72.0% | ||
| Q4 24 | 74.4% | 69.5% | ||
| Q3 24 | 75.3% | 70.6% | ||
| Q2 24 | 74.9% | 71.7% | ||
| Q1 24 | 74.7% | 70.6% |
| Q4 25 | 28.6% | 31.9% | ||
| Q3 25 | 19.3% | 37.0% | ||
| Q2 25 | -33.9% | 36.7% | ||
| Q1 25 | 16.0% | 36.5% | ||
| Q4 24 | 22.4% | 31.6% | ||
| Q3 24 | 16.7% | 36.6% | ||
| Q2 24 | 14.8% | 33.0% | ||
| Q1 24 | 13.8% | 34.1% |
| Q4 25 | 22.4% | 25.3% | ||
| Q3 25 | 16.1% | 30.0% | ||
| Q2 25 | -30.0% | 29.2% | ||
| Q1 25 | 12.8% | 28.4% | ||
| Q4 24 | 14.1% | 25.1% | ||
| Q3 24 | 12.4% | 28.6% | ||
| Q2 24 | 10.0% | 26.4% | ||
| Q1 24 | 9.4% | 27.4% |
| Q4 25 | $2.68 | $1.37 | ||
| Q3 25 | $1.28 | $1.63 | ||
| Q2 25 | $-2.30 | $1.61 | ||
| Q1 25 | $0.95 | $1.41 | ||
| Q4 24 | $1.38 | $1.29 | ||
| Q3 24 | $0.79 | $1.50 | ||
| Q2 24 | $0.67 | $1.37 | ||
| Q1 24 | $0.60 | $1.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | — |
| Total DebtLower is stronger | $2.4B | — |
| Stockholders' EquityBook value | $551.2M | $3.3B |
| Total Assets | $6.5B | $15.5B |
| Debt / EquityLower = less leverage | 4.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | — | ||
| Q3 25 | $743.2M | $2.1B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $1.1B | $1.7B | ||
| Q4 24 | $1.0B | $2.0B | ||
| Q3 24 | $7.3B | $1.7B | ||
| Q2 24 | $7.2B | $1.6B | ||
| Q1 24 | $7.4B | $2.0B |
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.4B | — | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $7.0B | — | ||
| Q2 24 | $6.9B | — | ||
| Q1 24 | $7.7B | — |
| Q4 25 | $551.2M | $3.3B | ||
| Q3 25 | $399.5M | $5.4B | ||
| Q2 25 | $857.8M | $5.0B | ||
| Q1 25 | $1.5B | $4.7B | ||
| Q4 24 | $1.3B | $4.8B | ||
| Q3 24 | $3.0B | $5.2B | ||
| Q2 24 | $2.9B | $5.0B | ||
| Q1 24 | $2.8B | $5.1B |
| Q4 25 | $6.5B | $15.5B | ||
| Q3 25 | $6.4B | $15.2B | ||
| Q2 25 | $6.6B | $14.5B | ||
| Q1 25 | $7.3B | $14.1B | ||
| Q4 24 | $7.3B | $14.2B | ||
| Q3 24 | $13.7B | $14.4B | ||
| Q2 24 | $13.4B | $14.2B | ||
| Q1 24 | $13.7B | $14.3B |
| Q4 25 | 4.32× | — | ||
| Q3 25 | 5.95× | — | ||
| Q2 25 | 2.77× | — | ||
| Q1 25 | 1.59× | — | ||
| Q4 24 | 1.78× | — | ||
| Q3 24 | 2.35× | — | ||
| Q2 24 | 2.39× | — | ||
| Q1 24 | 2.77× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.1B | $893.0M |
| Free Cash FlowOCF − Capex | $1.0B | $732.0M |
| FCF MarginFCF / Revenue | 41.5% | 30.7% |
| Capex IntensityCapex / Revenue | 1.7% | 6.7% |
| Cash ConversionOCF / Net Profit | 1.93× | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | $1.6B | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $893.0M | ||
| Q3 25 | $112.6M | $938.0M | ||
| Q2 25 | $446.8M | $486.0M | ||
| Q1 25 | $144.3M | $587.0M | ||
| Q4 24 | $506.0M | $905.0M | ||
| Q3 24 | $119.5M | $951.0M | ||
| Q2 24 | $256.0M | $502.0M | ||
| Q1 24 | $97.8M | $595.0M |
| Q4 25 | $1.0B | $732.0M | ||
| Q3 25 | $80.2M | $805.0M | ||
| Q2 25 | $411.5M | $308.0M | ||
| Q1 25 | $113.4M | $438.0M | ||
| Q4 24 | $475.1M | $689.0M | ||
| Q3 24 | $93.9M | $784.0M | ||
| Q2 24 | $209.8M | $370.0M | ||
| Q1 24 | $78.8M | $455.0M |
| Q4 25 | 41.5% | 30.7% | ||
| Q3 25 | 4.7% | 33.5% | ||
| Q2 25 | 23.9% | 12.5% | ||
| Q1 25 | 7.2% | 19.7% | ||
| Q4 24 | 21.6% | 29.7% | ||
| Q3 24 | 6.2% | 32.8% | ||
| Q2 24 | 13.2% | 15.7% | ||
| Q1 24 | 5.3% | 20.8% |
| Q4 25 | 1.7% | 6.7% | ||
| Q3 25 | 1.9% | 5.5% | ||
| Q2 25 | 2.0% | 7.2% | ||
| Q1 25 | 2.0% | 6.7% | ||
| Q4 24 | 1.4% | 9.3% | ||
| Q3 24 | 1.7% | 7.0% | ||
| Q2 24 | 2.9% | 5.6% | ||
| Q1 24 | 1.3% | 6.4% |
| Q4 25 | 1.93× | 1.48× | ||
| Q3 25 | 0.41× | 1.30× | ||
| Q2 25 | — | 0.68× | ||
| Q1 25 | 0.71× | 0.93× | ||
| Q4 24 | 1.63× | 1.56× | ||
| Q3 24 | 0.64× | 1.39× | ||
| Q2 24 | 1.61× | 0.80× | ||
| Q1 24 | 0.70× | 0.99× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
ZTS
| Other | $1.3B | 56% |
| Livestock | $234.0M | 10% |
| Pain Sedation | $209.0M | 9% |
| Other Pharmaceuticals | $188.0M | 8% |
| Swine | $125.0M | 5% |
| Poultry | $117.0M | 5% |
| Fish | $81.0M | 3% |
| Other Non Pharmaceuticals | $70.0M | 3% |
| Manufactured Product Other | $18.0M | 1% |
| Medicated Feed Additives | $12.0M | 1% |
