Bought back $1.6B of its own shares, 14.9× what it paid in stock
Dilution: new shares, stock pay and buybacks
Shares offered
Since Nov 12, 2023: 1 registration of shares for a merger, units or notes, 1 shelf registration; also 2 notes offerings.
- Feb 1, 2024 Shelf registration: shares and other securities, amount not fixed S-3ASR
- Nov 20, 2023 Shares for a merger, units or notes 424B5
Every offering filing →“We may offer for sale from time to time, either separately or together in one or more offerings, our debt securities, common stock, preferred stock, warrants, rights, depositary shares, purchase contracts and units (collectively, the “securities”).”
S-3ASR, Feb 1, 2024 ↗
Diluted shares: 210.20M in the year to Jun 27, 2026 2026 -5.5%2025 -4.6%2024 -3.4%2023 -10.7%
Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. Cash & buybacks, year by year → · How
Where the cash came from and where it went
FY2022 to FY2026, from the cash flow statements in the 10-Ks, added up.
Came from
| Operating cash flow NetCashProvidedByUsedInOperatingActivities, 0001116132-24-000018; NetCashProvidedByUsedInOperatingActivities, 0001116132-25-000019; NetCashProvidedByUsedInOperatingActivities, 0001116132-26-000018 |
$6.3B |
| Debt raised ProceedsFromIssuanceOfDebt, 0001116132-24-000018; ProceedsFromIssuanceOfDebt, 0001116132-25-000019; ProceedsFromIssuanceOfDebt, 0001116132-26-000018 |
$9.3B |
| Cash on hand used CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001116132-24-000018; CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001116132-25-000019; CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001116132-26-000018 |
$1.0B |
Went to
| Capital spending PaymentsToAcquirePropertyPlantAndEquipment, 0001116132-24-000018; PaymentsToAcquirePropertyPlantAndEquipment, 0001116132-25-000019; PaymentsToAcquirePropertyPlantAndEquipment, 0001116132-26-000018 |
$675.7M |
| Buybacks PaymentsForRepurchaseOfCommonStock, 0001116132-24-000018; PaymentsForRepurchaseOfCommonStock, 0001116132-25-000019; PaymentsForRepurchaseOfCommonStock, 0001116132-26-000018 |
$5.6B |
| Dividends PaymentsOfDividends, 0001116132-24-000018; PaymentsOfDividends, 0001116132-25-000019; PaymentsOfDividends, 0001116132-26-000018 |
$1.5B |
| Debt repaid RepaymentsOfLongTermDebt, 0001116132-24-000018; RepaymentsOfLongTermDebt, 0001116132-25-000019; RepaymentsOfLongTermDebt, 0001116132-26-000018 |
$8.6B |
| Other, net investments bought and sold, other financing and investing lines, and exchange rates |
$337.9M |
Each number is a line of the cash flow statement as the company tagged it. "Other, net" is what those lines do not cover (investments bought and sold, other financing and investing lines, and exchange rates); Tickdelta does not estimate it.
What the 10-Ks show for each CEO's years
The CEO of each fiscal year as named in the proxy's pay versus performance table, and what the 10-Ks show for those years.
Joanne Crevoiserat
- Operating cash flow
- $6.3B
- Capital spending
- $675.7M
- Buybacks
- $5.6B
- Dividends
- $1.5B
- Stock-based pay
- $428.7M
- Diluted shares since FY2021
- -25.7%
- Revenue since FY2021
- +39%
- Debt since FY2021
- +$788.3M
- CEO pay (reported)
- $95.0M
Buybacks, dividends and share count
| Fiscal year to | Buybacks | Dividends | Stock pay | Shares issued for cash | Diluted shares |
|---|---|---|---|---|---|
| 2026-06-27 | $1.6B | $326.1M | $104.5M | - | 210.20M |
| 2025-06-28 | $1.7B | $299.3M | $87.3M | - | 222.50M |
| 2024-06-29 | $0 | $321.4M | $85.9M | - | 233.20M |
| 2023-07-01 | $703.5M | $283.3M | $78.8M | - | 241.30M |
| 2022-07-02 | $1.6B | $264.4M | $72.2M | - | 270.10M |
From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: buybacks = PaymentsForRepurchaseOfCommonStock; dividends = PaymentsOfDividends; sbc = ShareBasedCompensation; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.
What it paid for each share it bought back
What TPR paid on average for each share it bought back, each fiscal year: dollars spent divided by shares bought, both from the 10-K.
| Fiscal year to | Shares bought | Spent | Average price | |
|---|---|---|---|---|
| 2014-06-28 | 10.20M | $524.9M | $51.46 | |
| 2013-06-29 | 7.10M | $400.0M | $56.34 | |
| 2012-06-30 | 10.69M | $700.0M | $65.49 | |
| 2011-07-02 | 20.40M | $1.1B | $53.81 | |
| 2010-07-03 | 30.69M | $1.1B | $37.48 | |
| 2009-06-27 | 20.16M | $453.8M | $22.51 | |
| 2008-06-28 | 39.69M | $1.3B | $33.68 |
Shares and dollars from the statement of shareholders' equity (the cash flow line also counts shares withheld for taxes, so it is not used). Share counts filed before a stock split are put on today's count. A year where the 10-K does not tag both numbers is left out. The latest year with both numbers tagged is 2014.