Revenue minus cost of goods sold. Graham's ≥40% threshold identifies businesses with durable pricing power. Note: software and financial companies naturally exceed this; retailers and manufacturers rarely reach it due to their cost structures.
Operating Margin2.2%
Profit after operating costs before interest and taxes. A consistent ≥15% operating margin signals a business with real competitive advantages. Capital-intensive industries (airlines, auto, commodities) rarely hit this threshold due to their structural cost base — compare within industry for context.
Net Income Margin3.9%
Bottom-line profit as a percentage of revenue. The ≥20% target reflects Buffett's preference for highly profitable businesses. Financial engineering (buybacks, tax optimisation) can inflate this temporarily — look for consistency across multiple years rather than a single strong result.
Financial Health
D
Years to Pay Off Debt10.4 yrs
Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.
Working Capital vs Long-Term Debt-$144M
Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.
Working Capital$199M
Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.
Valuation
N/A
Cash Flow
C
Free Cash Flow$14M
Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.
CapEx % of Net Income46.0%
Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.
Owner Earnings$321M
Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.
Metric Explanations
What each dimension measures and where the thresholds come from.
Gross Profit Margin
Revenue minus cost of goods sold. Graham's ≥40% threshold identifies businesses with durable pricing power. Note: software and financial companies naturally exceed this; retailers and manufacturers rarely reach it due to their cost structures.
Operating Margin
Profit after operating costs before interest and taxes. A consistent ≥15% operating margin signals a business with real competitive advantages. Capital-intensive industries (airlines, auto, commodities) rarely hit this threshold due to their structural cost base — compare within industry for context.
Net Income Margin
Bottom-line profit as a percentage of revenue. The ≥20% target reflects Buffett's preference for highly profitable businesses. Financial engineering (buybacks, tax optimisation) can inflate this temporarily — look for consistency across multiple years rather than a single strong result.
Years to Pay Off Debt
Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.
Working Capital vs Long-Term Debt
Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.
Working Capital
Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.
Free Cash Flow
Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.
CapEx % of Net Income
Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.
Owner Earnings
Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.
Market Data
Key Margins
Gross Profit62.3%
Operating Margin2.2%
Net Margin3.9%
Company Info
Showing Key Metrics
Income Highlights
Metric
2026
2025
2024
2023
Gross Profit %
62.3%▲
62.2%▼
63.2%▼
66.3%
Operating Margin %
2.2%▼
3.3%▼
8.5%▼
14.9%
Net Income %
3.9%▲
-32.6%▼
-5.5%▼
11.0%
Diluted EPS
1.14▲
-10.00▼
-1.96▼
4.60
Balance Sheet Highlights
Metric
2026
2025
2024
2023
2022
Total Assets
$3.2B
$5.2B
$6.7B
$7.3B
N/A
Total Debt
$1.4B▼
$2.6B▼
$3.6B▼
$3.6B•
N/A
Working Capital
$199M▲
$185M▲
-$87M▼
$420M•
N/A
Years to Pay Debt
10.36
-2.16
-15.61
5.85
N/A
Cash Flow Highlights
Metric
2026
2025
2024
2023
2022
Free Cash Flow
$14M▼
$207M▲
$174M▼
$545M•
N/A
Owner Earnings
$321M
-$976M
$38M
$1.0B
N/A
CapEx % of Net Income
46.0%
N/A
N/A
36.7%
N/A
Income Statement
2026
2025
2024
2023
Tax Effect Of Unusual Items
-13,462
-38,866
-62,510
-7,519
Tax Rate For Calcs
0
0
0
0
Normalized EBITDA
252,000
405,000
812,000
1,184,000
Total Unusual Items
-53,000
-152,000
-329,000
-168,000
Total Unusual Items Excluding Goodwill
-53,000
-152,000
-329,000
-168,000
Net Income From Continuing Operation Net Minority Interest
79,000
-529,000
13,000
616,000
Reconciled Depreciation
121,000
132,000
132,000
179,000
Reconciled Cost Of Revenue
1,311,000
1,370,000
1,525,000
1,895,000
EBITDA
199,000
253,000
483,000
1,016,000
EBIT
78,000
121,000
351,000
837,000
Net Interest Income
77,000
37,000
-6,000
-24,000
Normalized Income
118,538
-415,866
279,490
776,481
Net Income From Continuing And Discontinued Operation
137,000
-1,182,000
-229,000
616,000
Total Expenses
3,396,000
3,500,000
3,789,000
4,782,000
Total Operating Income As Reported
23,000
-26,000
59,000
679,000
Diluted Average Shares
119,848
118,256
118,058
134,002
Basic Average Shares
119,309
118,256
117,014
132,532
Diluted EPS
0
0
0
0
Basic EPS
0
0
0
0
Diluted NI Availto Com Stockholders
137,000
-1,182,000
-229,000
616,000
Net Income Common Stockholders
137,000
-1,182,000
-229,000
616,000
Net Income
137,000
-1,182,000
-229,000
616,000
Minority Interests
-1,000
-3,000
0
-3,000
Net Income Including Noncontrolling Interests
138,000
-1,179,000
-229,000
619,000
Net Income Discontinuous Operations
58,000
-653,000
-242,000
Net Income Continuous Operations
80,000
-526,000
13,000
619,000
Tax Provision
27,000
524,000
8,000
29,000
Pretax Income
107,000
-2,000
21,000
648,000
Other Income Expense
-48,000
-160,000
-324,000
-165,000
Other Non Operating Income Expenses
5,000
-8,000
5,000
3,000
Special Income Charges
-55,000
-147,000
-292,000
-158,000
Impairment Of Capital Assets
40,000
142,000
292,000
142,000
Restructuring And Mergern Acquisition
15,000
5,000
0
16,000
Gain On Sale Of Security
2,000
-5,000
-37,000
-10,000
Net Non Operating Interest Income Expense
77,000
37,000
-6,000
-24,000
Total Other Finance Cost
-77,000
-37,000
6,000
24,000
Operating Income
78,000
121,000
351,000
837,000
Operating Expense
2,085,000
2,130,000
2,264,000
2,887,000
Depreciation Amortization Depletion Income Statement
121,000
132,000
132,000
179,000
Depreciation And Amortization In Income Statement
121,000
132,000
132,000
179,000
Selling General And Administration
1,964,000
1,998,000
2,132,000
2,708,000
Gross Profit
2,163,000
2,251,000
2,615,000
3,724,000
Cost Of Revenue
1,311,000
1,370,000
1,525,000
1,895,000
Total Revenue
3,474,000
3,621,000
4,140,000
5,619,000
Operating Revenue
3,474,000
3,621,000
4,140,000
5,619,000
Balance Sheet
2026
2025
2024
2023
2022
Treasury Shares Number
113,867
109,759
109,641
106,819
Ordinary Shares Number
115,175
117,913
116,630
117,347
Share Issued
229,042
227,672
226,271
224,166
Net Debt
222,000
1,383,000
1,524,000
1,578,000
Total Debt
1,420,000
2,553,000
3,575,000
3,604,000
Tangible Book Value
-684,000
-413,000
-901,000
-1,173,000
Invested Capital
437,000
1,858,000
3,322,000
3,675,000
Working Capital
199,000
185,000
-87,000
420,000
Net Tangible Assets
-684,000
-413,000
-901,000
-1,173,000
Capital Lease Obligations
1,063,000
1,063,000
1,852,000
1,777,000
Common Stock Equity
80,000
368,000
1,599,000
1,848,000
Total Capitalization
423,000
1,834,000
2,860,000
3,670,000
Total Equity Gross Minority Interest
84,000
372,000
1,600,000
1,849,000
Minority Interest
4,000
4,000
1,000
1,000
Stockholders Equity
80,000
368,000
1,599,000
1,848,000
Gains Losses Not Affecting Retained Earnings
-323,000
57,000
161,000
147,000
Other Equity Adjustments
-323,000
57,000
161,000
147,000
Treasury Stock
5,543,000
5,462,000
5,458,000
5,351,000
Retained Earnings
4,434,000
4,297,000
5,479,000
5,708,000
Additional Paid In Capital
1,512,000
1,476,000
1,417,000
1,344,000
Total Liabilities Net Minority Interest
3,150,000
4,841,000
5,089,000
5,446,000
Total Non Current Liabilities Net Minority Interest
2,196,000
3,505,000
3,394,000
3,996,000
Other Non Current Liabilities
935,000
417,000
319,000
318,000
Liabilities Heldfor Sale Non Current
0
575,000
Non Current Deferred Liabilities
88,000
233,000
362,000
508,000
Non Current Deferred Taxes Liabilities
88,000
233,000
362,000
508,000
Long Term Debt And Capital Lease Obligation
1,173,000
2,280,000
2,713,000
3,170,000
Long Term Capital Lease Obligation
830,000
814,000
1,452,000
1,348,000
Long Term Debt
343,000
1,466,000
1,261,000
1,822,000
Current Liabilities
954,000
1,336,000
1,695,000
1,450,000
Other Current Liabilities
56,000
343,000
114,000
123,000
Current Deferred Liabilities
13,000
11,000
15,000
32,000
Current Deferred Revenue
13,000
11,000
15,000
32,000
Current Debt And Capital Lease Obligation
247,000
273,000
862,000
434,000
Current Capital Lease Obligation
233,000
249,000
400,000
429,000
Current Debt
14,000
24,000
462,000
5,000
Other Current Borrowings
14,000
24,000
462,000
5,000
Payables And Accrued Expenses
638,000
709,000
704,000
861,000
Current Accrued Expenses
271,000
232,000
259,000
281,000
Interest Payable
6,000
17,000
16,000
10,000
Payables
367,000
477,000
445,000
580,000
Total Tax Payable
56,000
98,000
93,000
105,000
Income Tax Payable
23,000
66,000
64,000
73,000
Accounts Payable
311,000
379,000
352,000
475,000
Total Assets
3,234,000
5,213,000
6,689,000
7,295,000
Total Non Current Assets
2,081,000
3,692,000
5,081,000
5,425,000
Other Non Current Assets
92,000
1,693,000
212,000
226,000
Non Current Deferred Assets
0
0
352,000
296,000
Non Current Deferred Taxes Assets
0
0
352,000
296,000
Goodwill And Other Intangible Assets
764,000
781,000
2,500,000
3,021,000
Other Intangible Assets
562,000
582,000
1,394,000
1,728,000
Goodwill
202,000
199,000
1,106,000
1,293,000
Net PPE
1,225,000
1,218,000
2,017,000
1,882,000
Accumulated Depreciation
-627,000
-675,000
-726,000
-784,000
Gross PPE
1,852,000
1,893,000
2,743,000
2,666,000
Leases
341,000
408,000
535,000
577,000
Construction In Progress
24,000
18,000
82,000
90,000
Other Properties
959,000
929,000
1,550,000
1,436,000
Machinery Furniture Equipment
421,000
437,000
466,000
453,000
Buildings And Improvements
88,000
83,000
92,000
92,000
Land And Improvements
19,000
18,000
18,000
18,000
Current Assets
1,153,000
1,521,000
1,608,000
1,870,000
Other Current Assets
21,000
18,000
50,000
48,000
Assets Held For Sale Current
0
342,000
Restricted Cash
10,000
9,000
6,000
Prepaid Assets
106,000
85,000
109,000
127,000
Inventory
581,000
701,000
862,000
1,057,000
Receivables
300,000
259,000
382,000
389,000
Receivables Adjustments Allowances
-46,000
-42,000
-47,000
-57,000
Other Receivables
23,000
28,000
45,000
24,000
Taxes Receivable
65,000
0
Accrued Interest Receivable
20,000
36,000
42,000
10,000
Accounts Receivable
238,000
237,000
342,000
412,000
Gross Accounts Receivable
412,000
461,000
Cash Cash Equivalents And Short Term Investments
135,000
107,000
199,000
249,000
Cash And Cash Equivalents
135,000
107,000
199,000
249,000
Cash Flow
2026
2025
2024
2023
2022
Free Cash Flow
14,000
207,000
174,000
545,000
Repurchase Of Capital Stock
-81,000
-4,000
-107,000
-1,364,000
Repayment Of Debt
-3,523,000
-3,547,000
-1,839,000
-3,474,000
Issuance Of Debt
2,304,000
3,329,000
1,737,000
4,061,000
Capital Expenditure
-63,000
-74,000
-135,000
-226,000
Interest Paid Supplemental Data
45,000
87,000
96,000
58,000
Income Tax Paid Supplemental Data
102,000
125,000
156,000
133,000
End Cash Position
145,000
175,000
205,000
256,000
Beginning Cash Position
175,000
205,000
256,000
172,000
Effect Of Exchange Rate Changes
-25,000
-16,000
-17,000
-94,000
Changes In Cash
-5,000
-14,000
-34,000
178,000
Financing Cash Flow
-1,301,000
-242,000
-208,000
-776,000
Cash Flow From Continuing Financing Activities
-1,301,000
-242,000
-208,000
-776,000
Net Other Financing Charges
-1,000
-20,000
-5,000
31,000
Proceeds From Stock Option Exercised
0
0
1,000
6,000
Net Common Stock Issuance
-81,000
-4,000
-107,000
-1,364,000
Common Stock Payments
-81,000
-4,000
-107,000
-1,364,000
Net Issuance Payments Of Debt
-1,219,000
-218,000
-102,000
587,000
Net Long Term Debt Issuance
-1,219,000
-218,000
-102,000
587,000
Long Term Debt Payments
-3,523,000
-3,547,000
-1,839,000
-3,474,000
Long Term Debt Issuance
2,304,000
3,329,000
1,737,000
4,061,000
Investing Cash Flow
1,219,000
-53,000
-135,000
183,000
Cash From Discontinued Investing Activities
1,282,000
-54,000
-54,000
Cash Flow From Continuing Investing Activities
-63,000
1,000
-81,000
183,000
Net Other Investing Changes
84,000
54,000
409,000
Net Investment Purchase And Sale
0
84,000
54,000
409,000
Net Business Purchase And Sale
0
-9,000
0
0
Purchase Of Business
0
-9,000
0
0
Capital Expenditure Reported
-63,000
-74,000
-135,000
-226,000
Operating Cash Flow
77,000
281,000
309,000
771,000
Cash From Discontinued Operating Activities
-120,000
127,000
-47,000
Cash Flow From Continuing Operating Activities
197,000
154,000
356,000
771,000
Change In Working Capital
-22,000
110,000
28,000
-82,000
Change In Other Working Capital
-30,000
-38,000
-28,000
60,000
Change In Payables And Accrued Expense
-91,000
128,000
-91,000
-109,000
Change In Accrued Expense
-15,000
13,000
-57,000
-9,000
Change In Payable
-76,000
115,000
-34,000
-100,000
Change In Account Payable
-76,000
115,000
-34,000
-100,000
Change In Prepaid Assets
-64,000
2,000
-40,000
-8,000
Change In Inventory
133,000
-39,000
177,000
13,000
Change In Receivables
0
49,000
20,000
50,000
Other Non Cash Items
-40,000
-85,000
-90,000
-92,000
Stock Based Compensation
34,000
50,000
55,000
78,000
Asset Impairment Charge
40,000
142,000
294,000
142,000
Deferred Tax
-12,000
333,000
-107,000
-101,000
Deferred Income Tax
-12,000
333,000
-107,000
-101,000
Depreciation Amortization Depletion
121,000
132,000
132,000
179,000
Depreciation And Amortization
121,000
132,000
132,000
179,000
Operating Gains Losses
-4,000
-2,000
31,000
28,000
Net Foreign Currency Exchange Gain Loss
-4,000
-2,000
31,000
28,000
Net Income From Continuing Operations
80,000
-526,000
13,000
619,000
1/5
Graham Score
Speculative Investor
Fails most of Graham's safety criteria. Treat with caution.
Graham's Fair Value
N/A
N/A — requires
positive EPS and positive book value per share. Check the Financials tab for earnings history.
Margin of Safety
—
Market Cap / Net Assets
N/A
Net Assets: $84M
Warren's Owner Earnings
$321M
Latest fiscal year
Graham's 7 Criteria
Defensive Investor Checklist
1/5 — Speculative Investor
✅
Adequate Size
Graham required companies large enough to withstand economic downturns. This threshold ($1.5B) is inflation-adjusted from Graham's original $100M — virtually all S&P 500 companies pass this today.
$3.5B
vs > $1.5B revenue
❌
Strong Financial Condition
Current assets must be at least twice current liabilities. Note: highly profitable companies (Apple, Domino's) often run negative or low working capital deliberately — they collect cash fast and stretch payables. A failing score here is not always a warning sign.
1.21x
vs Current Ratio > 2.0x
❌
Earnings Stability
Graham required uninterrupted positive earnings. Any loss year is a red flag for defensive investors. Growth companies and cyclicals may show occasional losses during investment cycles or downturns without being fundamentally unsound.
2 loss years (4 yrs data)
vs No negative EPS years
❌
Dividend Record
Graham valued dividends as evidence of financial discipline and shareholder alignment. Many excellent modern businesses (Alphabet, Amazon, Berkshire Hathaway) pay no dividend, preferring to reinvest cash at high rates of return. Failing this criterion does not indicate a poor business — it may indicate a high-growth one.
No dividend
vs Uninterrupted dividends
❌
Earnings Growth
EPS grew from $4.60 to $1.14 over 1 years. Graham's 33% threshold was set over a 10-year period. Measured over fewer years (as here), the bar is proportionally lower. Share buybacks can also inflate EPS growth without reflecting underlying business improvement.
-75.2% EPS growth
vs > 33% EPS growth
Graham's 7 Criteria — Explained
What each criterion measures and why it matters.
✅ Adequate Size — $3.5Bvs > $1.5B revenue
Graham required companies large enough to withstand economic downturns. This threshold ($1.5B) is inflation-adjusted from Graham's original $100M — virtually all S&P 500 companies pass this today.
"The minimum size of an enterprise should be not less than $100 million of annual sales."
❌ Strong Financial Condition — 1.21xvs Current Ratio > 2.0x
Current assets must be at least twice current liabilities. Note: highly profitable companies (Apple, Domino's) often run negative or low working capital deliberately — they collect cash fast and stretch payables. A failing score here is not always a warning sign.
"For industrial companies, current assets should be at least twice current liabilities."
❌ Earnings Stability — 2 loss years (4 yrs data)vs No negative EPS years
Graham required uninterrupted positive earnings. Any loss year is a red flag for defensive investors. Growth companies and cyclicals may show occasional losses during investment cycles or downturns without being fundamentally unsound.
"The company should have shown no deficit in the past ten years."
❌ Dividend Record — No dividendvs Uninterrupted dividends
Graham valued dividends as evidence of financial discipline and shareholder alignment. Many excellent modern businesses (Alphabet, Amazon, Berkshire Hathaway) pay no dividend, preferring to reinvest cash at high rates of return. Failing this criterion does not indicate a poor business — it may indicate a high-growth one.
"Some current dividend payments — for at least the past 20 years."
EPS grew from $4.60 to $1.14 over 1 years. Graham's 33% threshold was set over a 10-year period. Measured over fewer years (as here), the bar is proportionally lower. Share buybacks can also inflate EPS growth without reflecting underlying business improvement.
"A minimum increase of at least one-third in per-share earnings over ten years."
These metrics estimate what CPRI is worth based on fundamentals — independent of what the market prices it at.
Graham's Fair Value and NCAV are conservative floors.
EPV assumes zero growth. These are reference points, not price targets.
Net Current Asset Value
N/A
"Buy at two-thirds of net current assets." — Graham
Earnings Power Value
N/A
Per share, no-growth floor. Compare to current price.
ROIC — Return on Invested Capital
2.7%
Return on Invested Capital — Buffett's preferred measure for asset-light businesses. ROIC > 15% consistently signals a durable competitive advantage (moat). More meaningful than P/B for software, pharma, and consumer brand companies where most value is intangible and off-balance-sheet.
Cash Flow Analysis
Metric
2026
2025
2024
2023
2022
Capital Expenditure % of Net Income
46.0%
N/A
N/A
36.7%
N/A
Repurchase of Capital Stock
-$81M
-$4M
-$107M
-$1.4B
N/A
Free Cash Flow
$14M▼
$207M▲
$174M▼
$545M•
N/A•
Warren's Owner Earnings
$321M
-$976M
$38M
$1.0B
N/A
Peers & Industry
No auto-detected peers for this industry. You can manually compare CPRI against any stock using the Compare tool.
"The management of a business is its most important single factor — more important than market position, patents, or financial structure."
— Benjamin Graham
No management data available.
Risk Analysis
CPRI (CPRI) fundamental analysis — Overall grade D based on profitability, financial health, valuation and cash flow. Graham's
Fair Value: N/A. Gross profit margin: 62.3%. Operating margin: 2.2%. Net margin: 3.9%. Analysis powered by 360investing — free fundamental stock analysis based on Benjamin Graham and Warren Buffett
principles.
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