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泰佩思琦（TPR）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是泰佩思琦的1.8倍（$4.4B vs $2.5B），标普全球净利率更高（26.8% vs 22.4%，领先4.4%），标普全球同比增速更快（191.7% vs 14.0%），泰佩思琦自由现金流更多（$1.0B vs $-1.5B），过去两年标普全球的营收复合增速更高（77.3% vs 29.9%）
Tapestry, Inc.是美国知名跨国奢侈品时尚控股企业，旗下拥有Coach、Kate Spade New York、Stuart Weitzman三大标志性生活方式品牌，主营高端手袋、服饰、鞋履、配饰及香水产品，销售渠道覆盖全球线下门店与线上电商平台。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
TPR vs VG — 直观对比
营收规模更大
VG
是对方的1.8倍
$2.5B
营收增速更快
VG
高出177.7%
14.0%
净利率更高
VG
高出4.4%
22.4%
自由现金流更多
TPR
多$2.6B
$-1.5B
两年增速更快
VG
近两年复合增速
29.9%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $4.4B |
| 净利润 | $561.3M | $1.2B |
| 毛利率 | 75.5% | — |
| 营业利润率 | 28.6% | 38.7% |
| 净利率 | 22.4% | 26.8% |
| 营收同比 | 14.0% | 191.7% |
| 净利润同比 | 80.8% | 20.3% |
| 每股收益（稀释后） | $2.68 | $0.41 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收TPRVG
| Q4 25 | $2.5B | $4.4B | ||
| Q3 25 | $1.7B | $3.3B | ||
| Q2 25 | $1.7B | $3.1B | ||
| Q1 25 | $1.6B | $2.9B | ||
| Q4 24 | $2.2B | $1.5B | ||
| Q3 24 | $1.5B | $926.0M | ||
| Q2 24 | $1.6B | $1.1B | ||
| Q1 24 | $1.5B | $1.4B |
净利润TPRVG
| Q4 25 | $561.3M | $1.2B | ||
| Q3 25 | $274.8M | $550.0M | ||
| Q2 25 | $-517.1M | $475.0M | ||
| Q1 25 | $203.3M | $517.0M | ||
| Q4 24 | $310.4M | $990.0M | ||
| Q3 24 | $186.6M | $-294.0M | ||
| Q2 24 | $159.3M | $352.0M | ||
| Q1 24 | $139.4M | $698.0M |
毛利率TPRVG
| Q4 25 | 75.5% | — | ||
| Q3 25 | 76.3% | — | ||
| Q2 25 | 76.3% | — | ||
| Q1 25 | 76.1% | — | ||
| Q4 24 | 74.4% | — | ||
| Q3 24 | 75.3% | — | ||
| Q2 24 | 74.9% | — | ||
| Q1 24 | 74.7% | — |
营业利润率TPRVG
| Q4 25 | 28.6% | 38.7% | ||
| Q3 25 | 19.3% | 39.7% | ||
| Q2 25 | -33.9% | 33.5% | ||
| Q1 25 | 16.0% | 37.3% | ||
| Q4 24 | 22.4% | 39.0% | ||
| Q3 24 | 16.7% | 20.4% | ||
| Q2 24 | 14.8% | 32.8% | ||
| Q1 24 | 13.8% | 43.6% |
净利率TPRVG
| Q4 25 | 22.4% | 26.8% | ||
| Q3 25 | 16.1% | 16.5% | ||
| Q2 25 | -30.0% | 15.3% | ||
| Q1 25 | 12.8% | 17.9% | ||
| Q4 24 | 14.1% | 65.0% | ||
| Q3 24 | 12.4% | -31.7% | ||
| Q2 24 | 10.0% | 31.8% | ||
| Q1 24 | 9.4% | 49.4% |
每股收益（稀释后）TPRVG
| Q4 25 | $2.68 | $0.41 | ||
| Q3 25 | $1.28 | $0.16 | ||
| Q2 25 | $-2.30 | $0.14 | ||
| Q1 25 | $0.95 | $0.15 | ||
| Q4 24 | $1.38 | $0.35 | ||
| Q3 24 | $0.79 | $-0.15 | ||
| Q2 24 | $0.67 | $0.12 | ||
| Q1 24 | $0.60 | $0.25 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.1B | $2.4B |
| 总债务越低越好 | $2.4B | $34.2B |
| 股东权益账面价值 | $551.2M | $6.7B |
| 总资产 | $6.5B | $53.4B |
| 负债/权益比越低杠杆越低 | 4.32× | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资TPRVG
| Q4 25 | $1.1B | $2.4B | ||
| Q3 25 | $743.2M | $1.9B | ||
| Q2 25 | $1.1B | $2.2B | ||
| Q1 25 | $1.1B | $3.6B | ||
| Q4 24 | $1.0B | $3.6B | ||
| Q3 24 | $7.3B | — | ||
| Q2 24 | $7.2B | — | ||
| Q1 24 | $7.4B | — |
总债务TPRVG
| Q4 25 | $2.4B | $34.2B | ||
| Q3 25 | $2.4B | $32.6B | ||
| Q2 25 | $2.4B | $30.0B | ||
| Q1 25 | $2.4B | $29.3B | ||
| Q4 24 | $2.4B | $29.3B | ||
| Q3 24 | $7.0B | — | ||
| Q2 24 | $6.9B | — | ||
| Q1 24 | $7.7B | — |
股东权益TPRVG
| Q4 25 | $551.2M | $6.7B | ||
| Q3 25 | $399.5M | $5.7B | ||
| Q2 25 | $857.8M | $5.3B | ||
| Q1 25 | $1.5B | $4.9B | ||
| Q4 24 | $1.3B | $2.9B | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $2.9B | — | ||
| Q1 24 | $2.8B | — |
总资产TPRVG
| Q4 25 | $6.5B | $53.4B | ||
| Q3 25 | $6.4B | $50.1B | ||
| Q2 25 | $6.6B | $46.5B | ||
| Q1 25 | $7.3B | $45.1B | ||
| Q4 24 | $7.3B | $43.5B | ||
| Q3 24 | $13.7B | — | ||
| Q2 24 | $13.4B | — | ||
| Q1 24 | $13.7B | — |
负债/权益比TPRVG
| Q4 25 | 4.32× | 5.07× | ||
| Q3 25 | 5.95× | 5.73× | ||
| Q2 25 | 2.77× | 5.69× | ||
| Q1 25 | 1.59× | 6.01× | ||
| Q4 24 | 1.78× | 10.11× | ||
| Q3 24 | 2.35× | — | ||
| Q2 24 | 2.39× | — | ||
| Q1 24 | 2.77× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $1.1B | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $-1.5B |
| 自由现金流率自由现金流/营收 | 41.5% | -34.1% |
| 资本支出强度资本支出/营收 | 1.7% | 81.6% |
| 现金转化率经营现金流/净利润 | 1.93× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $-6.8B |
8季度趋势，按日历期对齐
经营现金流TPRVG
| Q4 25 | $1.1B | $2.1B | ||
| Q3 25 | $112.6M | $1.9B | ||
| Q2 25 | $446.8M | $1.5B | ||
| Q1 25 | $144.3M | $1.1B | ||
| Q4 24 | $506.0M | — | ||
| Q3 24 | $119.5M | — | ||
| Q2 24 | $256.0M | — | ||
| Q1 24 | $97.8M | $638.0M |
自由现金流TPRVG
| Q4 25 | $1.0B | $-1.5B | ||
| Q3 25 | $80.2M | $-1.4B | ||
| Q2 25 | $411.5M | $-1.5B | ||
| Q1 25 | $113.4M | $-2.4B | ||
| Q4 24 | $475.1M | — | ||
| Q3 24 | $93.9M | — | ||
| Q2 24 | $209.8M | — | ||
| Q1 24 | $78.8M | $-2.4B |
自由现金流率TPRVG
| Q4 25 | 41.5% | -34.1% | ||
| Q3 25 | 4.7% | -42.4% | ||
| Q2 25 | 23.9% | -49.1% | ||
| Q1 25 | 7.2% | -81.3% | ||
| Q4 24 | 21.6% | — | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | 13.2% | — | ||
| Q1 24 | 5.3% | -167.3% |
资本支出强度TPRVG
| Q4 25 | 1.7% | 81.6% | ||
| Q3 25 | 1.9% | 98.9% | ||
| Q2 25 | 2.0% | 96.1% | ||
| Q1 25 | 2.0% | 119.8% | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 1.3% | 212.4% |
现金转化率TPRVG
| Q4 25 | 1.93× | 1.77× | ||
| Q3 25 | 0.41× | 3.42× | ||
| Q2 25 | — | 3.07× | ||
| Q1 25 | 0.71× | 2.15× | ||
| Q4 24 | 1.63× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 1.61× | — | ||
| Q1 24 | 0.70× | 0.91× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
