Capri Holdings Limited

CPRI

Consumer CyclicalLuxury GoodsNYSE

$18.69

Market Cap: $2.23B

Capri Holdings Limited (CPRI) Valuation Summary

Updated Apr 28, 2026 22:22

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$3.14 – $2,412.33	$38.64	+94.8%
Revenue DCF 10Y	$0.40 – $1,646.17	$14.79	-25.5%
▸ Trading Multiples
EV/Revenue	$29.64 – $72.72	$52.40	+164.1%

Valuation History

DCF Analysis

Capri Holdings Limited (CPRI) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$14.79

Market Price

$18.69

Upside / Downside

-20.9%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -16.9% to a target of 7.7% over 5 years, discounted at a WACC of 5.1%, Capri Holdings Limited (CPRI) has an intrinsic value of $14.79 per share (range: $0.40 – $1,646.17).

Key Assumptions

Current Operating Margin

-16.9%

Target Operating Margin

7.7%

WACC

5.1%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

3.1%

Target CapEx/Rev

6.0%

D&A/Revenue

3.8%

Tax Rate

8.2%

Operating margin fades linearly from the current level to the industry target over the 5-year projection. CapEx intensity fades from the historical average to a maintenance level (D&A × 1.5). Tax is only applied when operating income is positive (NOL shield).

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	3,475	-21.8%	-12.0%	-417	-417	132	(117)	-135	-268	-261
2027	3,537	1.8%	-7.1%	-250	-250	134	(130)	10	-256	-238
2028	3,653	3.3%	-2.1%	-78	-78	138	(145)	19	-104	-91
2029	3,712	1.6%	2.8%	103	95	140	(158)	10	68	57
2030	3,495	-5.8%	7.7%	270	248	132	(159)	-36	257	205
2031	3,290	-5.8%	7.7%	254	233	125	(159)	-34	232	176
2032	3,156	-4.1%	7.7%	243	224	119	(162)	-22	203	147
2033	3,083	-2.3%	7.7%	238	218	117	(167)	-12	180	124
2034	3,066	-0.5%	7.7%	237	217	116	(175)	-3	161	105
2035	3,104	1.2%	7.7%	239	220	117	(186)	6	145	90

Enterprise Value Bridge

Sum of PV(FCFF)314

Terminal Value (Gordon Growth at 3.0%)7,028

PV of Terminal Value4,372

Enterprise Value4,686

(–) Net Debt2,937

Equity Value1,749

(÷) Shares Outstanding118

Fair Value per Share$14.79

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.7%	4.7%	7.7%	10.7%	13.7%
3.1%	$-32	$285	$739	$1193	$1646
4.1%	$-32	$5	$55	$105	$155
5.1%	$-32	$-12	$15	$41	$68
6.1%	$-32	$-18	$0	$18	$37
7.1%	$-32	$-21	$-7	$7	$20

Current price: $18.69. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 16.4% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Capri Holdings Limited (CPRI) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$38.64

Market Price

$18.69

Upside / Downside

+106.7%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-16.9%

Target Operating Margin

7.7%

WACC

5.1%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

3.1%

Target CapEx/Rev

6.0%

D&A/Revenue

3.8%

Tax Rate

8.2%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	3,475	-21.8%	-12.0%	-417	-417	132	(128)	-135	-278	-271
2027	3,537	1.8%	-7.1%	-250	-250	134	(150)	10	-277	-257
2028	3,653	3.3%	-2.1%	-78	-78	138	(177)	19	-136	-120
2029	3,712	1.6%	2.8%	103	95	140	(201)	10	25	21
2030	3,495	-5.8%	7.7%	270	248	132	(210)	-36	206	164

Enterprise Value Bridge

Sum of PV(FCFF)-463

Terminal Value (Gordon Growth at 3.0%)9,978

PV of Terminal Value7,969

Enterprise Value7,506

(–) Net Debt2,937

Equity Value4,569

(÷) Shares Outstanding118

Fair Value per Share$38.64

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.7%	4.7%	7.7%	10.7%	13.7%
3.1%	$48	$639	$1230	$1821	$2412
4.1%	$-25	$40	$104	$169	$233
5.1%	$-29	$5	$39	$72	$106
6.1%	$-30	$-8	$15	$38	$61
7.1%	$-31	$-14	$3	$20	$37

Current price: $18.69. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 16.4% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$52.40

Market Price

$18.69

Upside / Downside

+180.4%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Capri Holdings Limited (CPRI) has a fair value of $52.40 based on 8 comparable companies in the Luxury Goods industry.

EV/Revenue Valuation — Luxury Goods

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Capri Holdings LimitedCPRI	2,210	1.2x	1.0x
The Cheesecake Factory IncorporatedCAKE	3,125	1.7x	1.8x
LCI IndustriesLCII	2,868	0.9x	1.0x
Steven Madden, Ltd.SHOO	2,731	1.2x	1.2x
OneSpaWorld Holdings LimitedOSW	2,409	2.6x	2.6x
PENN Entertainment, Inc.PENN	2,404	1.5x	1.5x
Driven Brands Holdings Inc.DRVN	2,067	2.5x	3.1x
Six Flags Entertainment CorporationFUN	1,854	2.3x	2.4x
Sharplink, Inc.SBET	1,441	50.4x	—
Industry Median		2.0x	1.8x
(*) Revenue		4,442	5,241
= Enterprise Value		8,923	9,345
(-) Net Debt		2,937	2,937
Equity Value		5,986	6,408
(/) Outstanding shares		118	118
Fair Price		$51	$54

Selected Fair Value (avg of trailing + forward)

$52.40

+180.4%

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.

Model

Range

Fair Value

Upside

▸ Discounted Cash Flow

Revenue DCF 5Y

$3.14 – $2,412.33

$38.64

+94.8%

Revenue DCF 10Y

$0.40 – $1,646.17

$14.79

-25.5%

▸ Trading Multiples

EV/Revenue

$29.64 – $72.72

$52.40

+164.1%

DCF Analysis

Capri Holdings Limited (CPRI) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$14.79

Market Price

$18.69

Upside / Downside

-20.9%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-16.9%

Target Operating Margin

7.7%

WACC

5.1%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

3.1%

Target CapEx/Rev

6.0%

D&A/Revenue

3.8%

Tax Rate

8.2%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	3,475	-21.8%	-12.0%	-417	-417	132	(117)	-135	-268	-261
2027	3,537	1.8%	-7.1%	-250	-250	134	(130)	10	-256	-238
2028	3,653	3.3%	-2.1%	-78	-78	138	(145)	19	-104	-91
2029	3,712	1.6%	2.8%	103	95	140	(158)	10	68	57
2030	3,495	-5.8%	7.7%	270	248	132	(159)	-36	257	205
2031	3,290	-5.8%	7.7%	254	233	125	(159)	-34	232	176
2032	3,156	-4.1%	7.7%	243	224	119	(162)	-22	203	147
2033	3,083	-2.3%	7.7%	238	218	117	(167)	-12	180	124
2034	3,066	-0.5%	7.7%	237	217	116	(175)	-3	161	105
2035	3,104	1.2%	7.7%	239	220	117	(186)	6	145	90

Enterprise Value Bridge

Sum of PV(FCFF)314

Terminal Value (Gordon Growth at 3.0%)7,028

PV of Terminal Value4,372

Enterprise Value4,686

(–) Net Debt2,937

Equity Value1,749

(÷) Shares Outstanding118

Fair Value per Share$14.79

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.7%	4.7%	7.7%	10.7%	13.7%
3.1%	$-32	$285	$739	$1193	$1646
4.1%	$-32	$5	$55	$105	$155
5.1%	$-32	$-12	$15	$41	$68
6.1%	$-32	$-18	$0	$18	$37
7.1%	$-32	$-21	$-7	$7	$20

Current price: $18.69. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 16.4% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$52.40

Market Price

$18.69

Upside / Downside

+180.4%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Capri Holdings Limited (CPRI) has a fair value of $52.40 based on 8 comparable companies in the Luxury Goods industry.

EV/Revenue Valuation — Luxury Goods

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Capri Holdings LimitedCPRI	2,210	1.2x	1.0x
The Cheesecake Factory IncorporatedCAKE	3,125	1.7x	1.8x
LCI IndustriesLCII	2,868	0.9x	1.0x
Steven Madden, Ltd.SHOO	2,731	1.2x	1.2x
OneSpaWorld Holdings LimitedOSW	2,409	2.6x	2.6x
PENN Entertainment, Inc.PENN	2,404	1.5x	1.5x
Driven Brands Holdings Inc.DRVN	2,067	2.5x	3.1x
Six Flags Entertainment CorporationFUN	1,854	2.3x	2.4x
Sharplink, Inc.SBET	1,441	50.4x	—
Industry Median		2.0x	1.8x
(*) Revenue		4,442	5,241
= Enterprise Value		8,923	9,345
(-) Net Debt		2,937	2,937
Equity Value		5,986	6,408
(/) Outstanding shares		118	118
Fair Price		$51	$54

Selected Fair Value (avg of trailing + forward)

$52.40

+180.4%