# Capri Holdings Limited (CPRI)

> Source: Nexqual · https://nexqual.com/CPRI · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Capri Holdings Limited (CPRI), nexqual.com/CPRI" · informational, not investment advice.

**Price:** USD 16.36 (+4.20% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 15.7 · day 15.54–16.4 · 52w 12.4–28.27 · market cap $1.88B · NYQ

## Key facts
- Last four reported quarters (through Jun 27, 2026): revenue $3.45B, net income $153M (4.4% margin), free cash flow $83.0M (SEC filings).
- Valuation: P/E 12.3x (avg 15.4x at the last 1 fiscal year-ends), EV/EBITDA 14.6x, net debt $224M.
- 2 of 80 tracked superinvestors hold CPRI (13F, Q2 2026): 0 new, 0 added, 1 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $2.1M; 2 not under a Rule 10b5-1 plan ($2.1M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.40 on a 1–5 scale) (15 analysts), mean target USD 21.63 (range 16–45.5).
- Total return with dividends: 1Y -27.7% vs S&P 500 +14.9%; 5Y -68.8% vs S&P 500 +80.3%.
- Next earnings: 2026-10-30, EPS estimate USD 0.21, revenue estimate $780M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.65B | $5.62B | $4.14B | $3.62B | $3.47B | $3.45B |
| Gross profit | $3.74B | $3.72B | $2.62B | $2.25B | $2.16B | — |
| Operating income | $903M | $679M | $59.0M | -$26.0M | $23.0M | $24.0M |
| Net income | $822M | $616M | -$229M | -$1.18B | $137M | $153M |
| EPS (diluted) | $5.39 | $4.60 | -$1.96 | -$10.00 | $1.14 | — |
| Free cash flow | $573M | $545M | $174M | $207M | $14.0M | $83.0M |
| Gross margin | 66.2% | 66.3% | 63.2% | 62.2% | 62.3% | — |
| Operating margin | 16.0% | 12.1% | 1.4% | -0.7% | 0.7% | 0.7% |
| Net margin | 14.5% | 11.0% | -5.5% | -32.6% | 3.9% | 4.4% |
| Revenue growth | +39.3% | -0.6% | -26.3% | -12.5% | -4.1% | — |
| Cash + short-term investments | $169M | $249M | $199M | $107M | $135M | — |
| Total debt | $1.16B | $1.83B | $1.72B | $1.49B | $357M | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
P/E 12.3x · P/S 0.5x · EV/EBITDA 14.6x · EV/Sales 0.6x · P/FCF 22.6x · P/B 13.6x · FCF yield 4.42% · Earnings yield 8.15% · Buyback yield (TTM) 7.14% · Net debt $224M · EV $2.10B
P/E at fiscal year-ends: Mar 2026 15.4x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold CPRI. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Einhorn | Greenlight Capital | 2.29% | $89.5M | Reduced -2.2% |
| Prem Watsa | Fairfax Financial Holdings | 0.05% | $1.5M | Unchanged |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-08 | Reitman Stephen F | Director | 17,981 | $349K | 100% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-29 | McDonough Krista A | Chief Legal & Sustain Officer | 92,236 | $1.7M | 100% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.40 on a 1–5 scale), 15 analysts; mean target USD 21.63 (low 16, high 45.5).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-06 | TD Cowen | Downgrade | Buy → Hold | $20 → $17 |
| 2026-08-06 | UBS | Target lowered | Neutral | $20 → $17 |
| 2026-08-06 | Telsey Advisory Group | Target lowered | Market Perform | $21 → $18 |
| 2026-08-06 | Barclays | Target lowered | Overweight | $20 → $19 |
| 2026-08-06 | Goldman Sachs | Target lowered | Neutral | $21 → $18 |
| 2026-08-06 | BTIG | Target lowered | Buy | $30 → $25 |
| 2026-08-04 | JP Morgan | Target lowered | Overweight | $29 → $22 |
| 2026-07-29 | TD Cowen | Target lowered | Hold | $26 → $20 |
| 2026-07-27 | Baird | Target lowered | Outperform | $26 → $24 |
| 2026-07-16 | Barclays | Target lowered | Overweight | $24 → $20 |
| 2026-07-15 | Wells Fargo | Target lowered | Equal-Weight | $20 → $16 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -27.7% | -68.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -27.8% | -20.8% |
| Volatility (annualized) | 45.5% | 58.7% |
| Max drawdown | -54.0% (Dec 2025→Sep 2026) | -80.4% (Feb 2022→Aug 2026) |

## Peers (Luxury Goods)
LUXE (LuxExperience B.V.) USD 9.59 +0.63% · REAL (The RealReal, Inc.) USD 10.48 -1.41% · SIG (Signet Jewelers Limited) USD 116.94 +1.89% · MOV (Movado Group Inc.) USD 32.28 -0.43% · TPR (Tapestry, Inc.) USD 113.92 -1.08%

## More
Full page: https://nexqual.com/CPRI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CPRI's own 10-K filed 2026-05-27 (https://www.sec.gov/Archives/edgar/data/1530721/000153072126000047/cpri-20260328.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | TAPESTRY, INC. (TPR) | "During Fiscal 2025, we were reimbursed approximately $45 million for certain expenses pursuant to the termination of the Merger Agreement with Tapestry." |

## Revenue by business segment (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Michael Kors | $590.0M | 76.7% | -7.1% | $55.0M | 9.3% |
| Jimmy Choo | $179.0M | 23.3% | +10.5% | $13.0M | 7.3% |
| Total revenue | $769.0M | 100% | — | $17.0M | 2.2% |

## Revenue by product line (fiscal year ended 2026-03-28)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Accessories | $1.94B | 55.7% | -3.5% |
| Footwear | $853.0M | 24.6% | -3.9% |
| Apparel | $446.0M | 12.8% | -7.9% |
| Product & Service Other | $239.0M | 6.9% | -1.2% |
| Total revenue | $3.47B | 100% | — |

## Revenue by region (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| The Americas | $430.0M | 55.9% | -6.3% |
| U.S. | $389.0M | 50.6% | -6.9% |
| EMEA | $224.0M | 29.1% | -1.8% |
| Asia | $115.0M | 15.0% | +4.5% |
| Total revenue | $769.0M | 100% | — |
The lines above cover 150.6% of total revenue.

## Company outlook (8-K filed 2026-08-05)

- "Guidance assumes an incremental 10% tariff rate on imports into the United States through July 24, 2026 and 10% to 12.5% thereafter."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.21 | $0.44 | -52.9% | $780.5M | 14 |
| Next quarter (ends 2026-12-31) | $0.95 | $0.98 | -2.9% | $1.02B | 14 |
| Current fiscal year (ends 2027-03-31) | $2.11 | $2.13 | -0.6% | $3.40B | 15 |
| Next fiscal year (ends 2028-03-31) | $2.45 | $2.58 | -5.0% | $3.48B | 15 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-30): ±15.2%; last 8 reports averaged ±8.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 68.0% | ±15.2% |
| 2026-12-18 | 56 | 61.9% | ±19.3% |
| 2027-01-15 | 84 | 61.3% | ±23.3% |
| 2027-02-19 | 119 | 58.4% | ±26.3% |
| 2027-05-21 | 210 | 56.7% | ±33.6% |