GAP (GAP) Financials

$28.39 -0.07 (-0.25%)

Closing price 05/27/2025 03:59 PM Eastern

Extended Trading

$28.33 -0.06 (-0.21%)

As of 04:01 AM Eastern

Annual Income Statements for GAP

This table shows GAP's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	2/1/2025	2/3/2024	1/28/2023	1/29/2022	1/30/2021	2/1/2020	2/2/2019	2/3/2018	1/28/2017	1/30/2016
Net Income / (Loss) Attributable to Common Shareholders	844	502	-202	256	-665	351	1,003	848	676	920
Consolidated Net Income / (Loss)	844	502	-202	256	-665	351	1,003	848	676	920
Net Income / (Loss) Continuing Operations	844	502	-202	256	-665	351	1,003	848	676	920
Total Pre-Tax Income	1,137	556	-139	323	-1,102	528	1,322	1,424	1,124	1,471
Total Operating Income	1,112	560	-69	810	-862	574	1,362	1,479	1,191	1,524
Total Gross Profit	6,227	5,775	5,359	6,637	4,705	6,133	6,322	6,066	5,640	5,720
Total Revenue	15,086	14,889	15,616	16,670	13,800	16,383	16,580	15,855	15,516	15,797
Operating Revenue	15,086	14,889	15,616	16,670	13,800	16,383	16,580	15,855	15,516	15,797
Total Cost of Revenue	8,859	9,114	10,257	10,033	9,095	10,250	10,258	9,789	9,876	10,077
Operating Cost of Revenue	8,859	9,114	10,257	10,033	9,095	10,250	10,258	9,789	9,876	10,077
Total Operating Expenses	5,115	5,215	5,428	5,827	5,567	5,559	4,960	4,587	4,449	4,196
Selling, General & Admin Expense	5,115	5,215	-	-	5,567	5,559	-	4,587	4,449	4,196
Total Other Income / (Expense), net	25	-4.00	-70	-487	-240	-46	-40	-55	-67	-53
Interest Expense	87	90	88	492	250	76	73	74	75	59
Interest & Investment Income	112	86	18	5.00	10	30	33	19	8.00	6.00
Income Tax Expense	293	54	63	67	-437	177	319	576	448	551
Basic Earnings per Share	$2.24	$1.36	($0.55)	$0.68	($1.78)	$0.93	$2.61	$2.16	$1.69	$2.24
Weighted Average Basic Shares Outstanding	376M	370M	367M	376M	374M	376M	385M	393M	399M	411M
Diluted Earnings per Share	$2.20	$1.34	($0.55)	$0.67	($1.78)	$0.93	$2.59	$2.14	$1.69	$2.23
Weighted Average Diluted Shares Outstanding	384M	376M	367M	383M	374M	378M	388M	396M	400M	413M
Weighted Average Basic & Diluted Shares Outstanding	374.90M	747.03M	732.42M	739.56M	749.70M	371.30M	384.30M	392.60M	400M	410.70M
Cash Dividends to Common per Share	$0.60	$0.60	$0.60	$0.36	$0.24	$0.97	$0.97	$0.92	$0.92	$0.92

This table shows GAP's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/1/2025	11/2/2024	8/3/2024	5/4/2024	2/3/2024	10/28/2023	7/29/2023	4/29/2023	1/28/2023	10/29/2022
Net Income / (Loss) Attributable to Common Shareholders	206	274	206	158	185	218	117	-18	-273	282
Consolidated Net Income / (Loss)	206	274	206	158	185	218	117	-18	-273	282
Net Income / (Loss) Continuing Operations	206	274	206	158	185	218	117	-18	-273	282
Total Pre-Tax Income	272	361	296	208	218	250	108	-20	-43	168
Total Operating Income	259	355	293	205	214	250	106	-10	-30	186
Total Gross Profit	1,612	1,635	1,583	1,397	1,672	1,556	1,333	1,214	1,424	1,509
Total Revenue	4,149	3,829	3,720	3,388	4,298	3,767	3,548	3,276	4,243	4,039
Operating Revenue	4,149	3,829	3,720	3,388	4,298	3,767	3,548	3,276	4,243	4,039
Total Cost of Revenue	2,537	2,194	2,137	1,991	2,626	2,211	2,215	2,062	2,819	2,530
Operating Cost of Revenue	2,537	2,194	2,137	1,991	2,626	2,211	2,215	2,062	2,819	2,530
Total Operating Expenses	1,353	1,280	1,290	1,192	1,458	1,306	1,227	1,224	1,454	1,323
Selling, General & Admin Expense	1,353	1,280	1,290	1,192	-	1,306	1,227	-	-	1,323
Total Other Income / (Expense), net	13	6.00	3.00	3.00	4.00	0.00	2.00	-10	-13	-18
Interest Expense	19	23	24	21	24	28	15	23	25	22
Interest & Investment Income	32	29	27	24	28	28	17	13	12	4.00
Income Tax Expense	66	87	90	50	33	32	-9.00	-2.00	230	-114
Basic Earnings per Share	$0.54	$0.73	$0.55	$0.42	$0.50	$0.59	$0.32	($0.05)	($0.75)	$0.77
Weighted Average Basic Shares Outstanding	376M	377M	376M	374M	370M	371M	369M	367M	367M	365M
Diluted Earnings per Share	$0.53	$0.72	$0.54	$0.41	$0.49	$0.58	$0.32	($0.05)	($0.75)	$0.77
Weighted Average Diluted Shares Outstanding	384M	383M	383M	383M	376M	375M	371M	367M	367M	366M
Weighted Average Basic & Diluted Shares Outstanding	374.90M	377.12M	376.32M	375.07M	747.03M	370.83M	369.88M	368.06M	732.42M	365.05M

This table details how cash moves in and out of GAP's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	2/1/2025	2/3/2024	1/28/2023	1/29/2022	1/30/2021	2/1/2020	2/2/2019	2/3/2018	1/28/2017	1/30/2016
Net Change in Cash & Equivalents	464	628	371	-1,114	635	-179	-379	-20	413	-145
Net Cash From Operating Activities	1,486	1,532	607	809	237	1,411	1,381	1,380	1,719	1,594
Net Cash From Continuing Operating Activities	1,486	1,532	607	809	237	1,271	1,373	1,358	1,719	1,594
Net Income / (Loss) Continuing Operations	844	502	-202	256	-665	351	1,003	848	676	920
Consolidated Net Income / (Loss)	844	502	-202	256	-665	351	1,003	848	676	920
Depreciation Expense	500	522	540	504	507	557	578	559	593	592
Amortization Expense	4.00	4.00	6.00	14	12	2.00	-59	-60	-62	-65
Non-Cash Adjustments To Reconcile Net Income	118	68	66	502	692	191	97	134	245	2.00
Changes in Operating Assets and Liabilities, net	20	436	197	-467	-309	310	-238	-101	267	145
Net Cash From Investing Activities	-692	-334	-227	-446	-510	-894	-1,001	-666	-529	-730
Net Cash From Continuing Investing Activities	-692	-334	-227	-446	-510	-894	-1,001	-666	-529	-730
Purchase of Property, Plant & Equipment	-447	-420	-685	-694	-392	-1,045	-705	-731	-524	-726
Acquisitions	0.00	0.00	0.00	-135	0.00	-69	0.00	0.00	-	-
Purchase of Investments	-409	0.00	0.00	-753	-508	-293	-464	0.00	0.00	-
Sale of Property, Plant & Equipment	7.00	76	458	0.00	0.00	220	0.00	0.00	-	-
Divestitures	0.00	9.00	0.00	-21	0.00	-	-	-	-	-
Sale and/or Maturity of Investments	162	0.00	0.00	1,162	388	293	177	0.00	0.00	-
Other Investing Activities, net	-5.00	1.00	0.00	-5.00	2.00	0.00	-9.00	65	-5.00	-4.00
Net Cash From Financing Activities	-321	-567	6.00	-1,471	895	-560	-749	-731	-777	-990
Net Cash From Continuing Financing Activities	-321	-567	6.00	-1,471	895	-560	-749	-731	-777	-990
Repayment of Debt	-3.00	-352	-8.00	-2,562	-1,868	0.00	-1.00	-67	-421	-22
Repurchase of Common Equity	-75	0.00	-123	-201	0.00	-200	-398	-315	0.00	-1,015
Payment of Dividends	-225	-222	-220	-226	0.00	-364	-373	-361	-367	-377
Issuance of Debt	0.00	0.00	350	1,500	2,750	0.00	0.00	-	-	400
Issuance of Common Equity	32	27	27	54	22	25	46	30	29	65
Other Financing Activities, net	-50	-20	-20	-36	-9.00	-21	-23	-18	-18	-41
Other Net Changes in Cash	-9.00	-3.00	-15	-6.00	13	4.00	-10	19	-	-
Cash Interest Paid	63	74	76	180	145	76	76	76	82	78
Cash Income Taxes Paid	237	49	-388	215	20	176	143	570	488	452

This table details how cash moves in and out of GAP's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/1/2025	11/2/2024	8/3/2024	5/4/2024	2/3/2024	10/28/2023	7/29/2023	4/29/2023	1/28/2023	10/29/2022
Net Change in Cash & Equivalents	367	69	368	-340	522	1.00	180	-75	567	-29
Net Cash From Operating Activities	616	291	549	30	700	304	513	15	719	95
Net Cash From Continuing Operating Activities	616	291	549	30	700	304	513	15	719	95
Net Income / (Loss) Continuing Operations	206	274	206	158	185	218	117	-18	-273	282
Consolidated Net Income / (Loss)	206	274	206	158	185	218	117	-18	-273	282
Depreciation Expense	129	124	123	124	128	127	130	137	138	140
Non-Cash Adjustments To Reconcile Net Income	20	41	32	25	37	2.00	25	4.00	68	-32
Changes in Operating Assets and Liabilities, net	257	-148	188	-277	346	-43	241	-108	785	-296
Net Cash From Investing Activities	-116	-151	-134	-291	-131	-91	-82	-30	-108	-46
Net Cash From Continuing Investing Activities	-116	-151	-134	-291	-131	-91	-82	-30	-108	-46
Purchase of Property, Plant & Equipment	-117	-148	-89	-93	-132	-89	-82	-117	-108	-171
Purchase of Investments	-66	-67	-75	-201	-	-	-	0.00	-	-
Sale of Property, Plant & Equipment	7.00	-	-	0.00	-	-	-	76	-	125
Sale and/or Maturity of Investments	65	64	30	3.00	-	-	-	0.00	-	-
Other Investing Activities, net	-5.00	-	-	0.00	1.00	-	-	0.00	-	-
Net Cash From Financing Activities	-128	-69	-47	-77	-51	-207	-251	-58	-54	-62
Net Cash From Continuing Financing Activities	-128	-69	-47	-77	-51	-207	-251	-58	-54	-62
Repurchase of Common Equity	-75	-	-	0.00	-	-	-	0.00	-	-12
Payment of Dividends	-56	-57	-56	-56	-56	-55	-56	-55	-54	-55
Issuance of Common Equity	5.00	6.00	11	10	9.00	5.00	6.00	7.00	4.00	8.00
Other Financing Activities, net	-2.00	-15	-2.00	-31	-4.00	-5.00	-1.00	-10	-3.00	-2.00
Other Net Changes in Cash	-5.00	-2.00	-	-2.00	4.00	-5.00	-	-2.00	10	-16
Cash Interest Paid	2.00	30	-	31	2.00	32	5.00	35	6.00	32
Cash Income Taxes Paid	64	76	58	39	50	19	-66	46	19	1.00

This table presents GAP's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	2/1/2025	2/3/2024	1/28/2023	1/29/2022	1/30/2021	2/1/2020	2/2/2019	2/3/2018	1/28/2017	1/30/2016
Total Assets	11,885	11,044	11,386	12,761	13,769	13,679	8,049	7,989	7,610	7,473
Total Current Assets	5,203	4,395	4,617	5,165	6,008	4,516	4,251	4,568	4,315	3,985
Cash & Equivalents	2,335	1,873	1,215	877	1,988	1,364	1,081	1,783	1,783	1,370
Short-Term Investments	253	0.00	0.00	0.00	410	290	288	0.00	-	-
Inventories, net	2,067	1,995	2,389	3,018	2,451	2,156	2,131	1,997	1,830	1,873
Other Current Assets	548	527	1,013	1,270	1,159	706	751	788	702	742
Plant, Property, & Equipment, net	2,496	2,566	2,688	3,037	2,841	3,122	2,912	2,805	2,616	2,850
Total Noncurrent Assets	4,186	4,083	4,081	4,559	4,920	6,041	886	616	679	638
Other Noncurrent Operating Assets	4,186	4,083	4,081	4,559	4,920	6,041	886	616	679	638
Total Liabilities & Shareholders' Equity	11,885	11,044	11,386	12,761	13,769	13,679	8,049	7,989	7,610	7,473
Total Liabilities	8,621	8,449	9,153	10,039	11,155	10,363	4,497	4,846	4,706	4,928
Total Current Liabilities	3,256	3,096	3,256	4,077	3,884	3,209	2,174	2,461	2,453	2,535
Accounts Payable	1,488	1,349	1,320	1,951	1,743	1,174	1,126	1,181	1,243	1,112
Accrued Expenses	1,083	1,108	1,219	1,367	1,276	1,067	1,024	1,270	1,113	979
Current Deferred & Payable Income Tax Liabilities	53	39	50	25	34	48	24	10	32	23
Other Current Liabilities	632	600	667	734	831	920	0.00	-	-	-
Total Noncurrent Liabilities	5,365	5,353	5,897	5,962	7,271	7,154	2,323	2,385	2,253	2,393
Long-Term Debt	1,490	1,488	1,836	1,484	2,216	1,249	1,250	1,250	1,248	1,310
Capital Lease Obligations	522	512	544	445	438	5,508	1,073	1,135	1,005	1,083
Other Noncurrent Operating Liabilities	3,353	3,353	3,517	4,033	4,617	397	0.00	-	-	-
Total Equity & Noncontrolling Interests	3,264	2,595	2,233	2,722	2,614	3,316	3,553	3,144	2,904	2,545
Total Preferred & Common Equity	3,264	2,595	2,233	2,722	2,614	3,316	3,553	3,144	2,904	2,545
Total Common Equity	3,264	2,595	2,233	2,722	2,614	3,316	3,553	3,144	2,904	2,545
Common Stock	165	132	45	62	104	19	19	27	101	20
Retained Earnings	3,039	2,420	2,140	2,622	2,501	3,257	3,481	3,081	2,749	2,440
Accumulated Other Comprehensive Income / (Loss)	60	43	48	38	9.00	40	53	36	54	85

This table presents GAP's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	11/2/2024	8/3/2024	5/4/2024	10/28/2023	7/29/2023	4/29/2023	10/29/2022
Total Assets	11,853	11,509	10,908	11,052	10,850	10,932	12,000
Total Current Assets	5,130	4,809	4,197	4,374	4,239	4,283	5,038
Cash & Equivalents	1,969	1,900	1,532	1,351	1,350	1,170	679
Short-Term Investments	250	246	199	0.00	0.00	0.00	0.00
Inventories, net	2,331	2,107	1,952	2,377	2,226	2,299	3,043
Other Current Assets	580	556	514	646	663	814	1,316
Plant, Property, & Equipment, net	2,546	2,525	2,528	2,552	2,595	2,646	2,788
Total Noncurrent Assets	4,177	4,175	4,183	4,126	4,016	4,003	4,174
Other Noncurrent Operating Assets	4,177	4,175	4,183	4,126	4,016	4,003	4,174
Total Liabilities & Shareholders' Equity	11,853	11,509	10,908	11,052	10,850	10,932	12,000
Total Liabilities	8,718	8,608	8,201	8,592	8,587	8,747	9,429
Total Current Liabilities	3,325	3,224	2,806	3,139	3,007	2,918	3,381
Accounts Payable	1,523	1,522	1,196	1,433	1,406	1,199	1,388
Accrued Expenses	1,135	1,029	942	1,078	1,007	1,051	1,245
Current Deferred & Payable Income Tax Liabilities	50	60	44	24	16	10	57
Other Current Liabilities	617	613	624	604	578	658	691
Total Noncurrent Liabilities	5,393	5,384	5,395	5,453	5,580	5,829	6,048
Long-Term Debt	1,489	1,489	1,489	1,488	1,637	1,837	1,836
Capital Lease Obligations	544	538	519	509	510	539	539
Other Noncurrent Operating Liabilities	3,360	3,357	3,387	3,456	3,433	3,453	3,673
Total Equity & Noncontrolling Interests	3,135	2,901	2,707	2,460	2,263	2,185	2,571
Total Preferred & Common Equity	3,135	2,901	2,707	2,460	2,263	2,185	2,571
Total Common Equity	3,135	2,901	2,707	2,460	2,263	2,185	2,571
Common Stock	196	178	138	111	91	65	34
Retained Earnings	2,889	2,672	2,522	2,291	2,128	2,067	2,468
Accumulated Other Comprehensive Income / (Loss)	50	51	47	58	44	53	69
Other Equity Adjustments	0.00	0.00	0.00	0.00	0.00	0.00	-

This table displays calculated financial ratios and metrics derived from GAP's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	2/1/2025	2/3/2024	1/28/2023	1/29/2022	1/30/2021	2/1/2020	2/2/2019	2/3/2018	1/28/2017	1/30/2016
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.32%	-4.66%	-6.32%	20.80%	-15.77%	-1.19%	4.57%	2.18%	-1.78%	-3.88%
EBITDA Growth	48.80%	127.67%	-64.08%	487.17%	-130.27%	-39.77%	-4.90%	14.87%	-16.04%	-20.60%
EBIT Growth	98.57%	911.59%	-108.52%	193.97%	-250.17%	-57.86%	-7.91%	24.18%	-21.85%	-26.84%
NOPAT Growth	63.26%	1,146.81%	-107.52%	206.39%	-258.13%	-63.07%	17.33%	22.96%	-24.85%	-27.01%
Net Income Growth	68.13%	348.51%	-178.91%	138.50%	-289.46%	-65.01%	18.28%	25.44%	-26.52%	-27.10%
EPS Growth	64.18%	343.64%	-182.09%	137.64%	-291.40%	-64.09%	21.03%	26.63%	-24.22%	-22.30%
Operating Cash Flow Growth	-3.00%	152.39%	-24.97%	241.35%	-83.20%	2.17%	0.07%	-19.72%	7.84%	-25.13%
Free Cash Flow Firm Growth	-27.27%	260.58%	225.07%	-105.30%	240.05%	-1,396.66%	-52.61%	-54.61%	36.73%	-26.66%
Invested Capital Growth	-1.25%	-19.89%	-9.96%	31.50%	-65.91%	86.84%	20.32%	8.90%	-13.79%	0.68%
Revenue Q/Q Growth	-0.98%	0.37%	-1.77%	0.61%	-1.78%	0.31%	-0.93%	2.25%	0.28%	-2.00%
EBITDA Q/Q Growth	3.19%	28.07%	-6.65%	-8.35%	51.76%	-35.18%	-0.63%	4.93%	-3.48%	-7.32%
EBIT Q/Q Growth	4.22%	77.22%	-122.58%	-13.46%	30.54%	-51.81%	-1.73%	6.86%	-4.34%	-9.72%
NOPAT Q/Q Growth	1.80%	972.75%	-122.58%	-44.70%	30.54%	-54.69%	7.19%	-2.22%	1.24%	-10.04%
Net Income Q/Q Growth	2.55%	1,040.91%	-467.27%	-49.41%	38.60%	-56.72%	7.62%	-1.74%	0.90%	-10.24%
EPS Q/Q Growth	1.85%	1,240.00%	-423.53%	0.00%	0.00%	-56.34%	8.37%	-1.38%	0.60%	-8.23%
Operating Cash Flow Q/Q Growth	-5.35%	-1.23%	3,946.67%	55.58%	-81.51%	5.14%	2.52%	-9.15%	3.55%	-8.86%
Free Cash Flow Firm Q/Q Growth	-11.20%	-2.20%	157.42%	-60.57%	431.04%	-400.77%	-29.08%	-39.42%	12.01%	-8.08%
Invested Capital Q/Q Growth	-8.85%	-12.36%	-20.37%	1.51%	19.88%	100.74%	-0.44%	-5.09%	-13.90%	-9.69%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	41.28%	38.79%	34.32%	39.81%	34.09%	37.44%	38.13%	38.26%	36.35%	36.21%
EBITDA Margin	10.71%	7.29%	3.05%	7.97%	-2.49%	6.92%	11.35%	12.48%	11.10%	12.98%
Operating Margin	7.37%	3.76%	-0.44%	4.86%	-6.25%	3.50%	8.21%	9.33%	7.68%	9.65%
EBIT Margin	7.37%	3.76%	-0.44%	4.86%	-6.25%	3.50%	8.21%	9.33%	7.68%	9.65%
Profit (Net Income) Margin	5.59%	3.37%	-1.29%	1.54%	-4.82%	2.14%	6.05%	5.35%	4.36%	5.82%
Tax Burden Percent	74.23%	90.29%	145.32%	79.26%	60.34%	66.48%	75.87%	59.55%	60.14%	62.54%
Interest Burden Percent	102.25%	99.29%	201.45%	39.88%	127.84%	91.99%	97.06%	96.28%	94.37%	96.52%
Effective Tax Rate	25.77%	9.71%	0.00%	20.74%	0.00%	33.52%	24.13%	40.45%	39.86%	37.46%
Return on Invested Capital (ROIC)	30.52%	16.52%	-1.35%	19.33%	-10.69%	5.90%	25.05%	24.52%	19.29%	23.98%
ROIC Less NNEP Spread (ROIC-NNEP)	22.25%	15.96%	-15.21%	-39.69%	-12.99%	4.89%	21.14%	18.75%	15.21%	21.24%
Return on Net Nonoperating Assets (RNNOA)	-1.71%	4.27%	-6.81%	-9.73%	-11.74%	4.32%	4.91%	3.52%	5.53%	9.31%
Return on Equity (ROE)	28.81%	20.80%	-8.15%	9.60%	-22.43%	10.22%	29.95%	28.04%	24.81%	33.29%
Cash Return on Invested Capital (CROIC)	31.77%	38.61%	9.14%	-7.89%	87.62%	-54.64%	6.60%	16.00%	34.10%	23.30%
Operating Return on Assets (OROA)	9.70%	4.99%	-0.57%	6.11%	-6.28%	5.28%	16.98%	18.96%	15.79%	20.10%
Return on Assets (ROA)	7.36%	4.48%	-1.67%	1.93%	-4.85%	3.23%	12.51%	10.87%	8.96%	12.13%
Return on Common Equity (ROCE)	28.81%	20.80%	-8.15%	9.60%	-22.43%	10.22%	29.95%	28.04%	24.81%	33.29%
Return on Equity Simple (ROE_SIMPLE)	25.86%	19.34%	-9.05%	9.40%	-25.44%	10.59%	28.23%	26.97%	23.28%	36.15%
Net Operating Profit after Tax (NOPAT)	825	506	-48	642	-603	382	1,033	881	716	953
NOPAT Margin	5.47%	3.40%	-0.31%	3.85%	-4.37%	2.33%	6.23%	5.56%	4.62%	6.03%
Net Nonoperating Expense Percent (NNEP)	8.27%	0.56%	13.87%	59.02%	2.30%	1.01%	3.91%	5.77%	4.07%	2.74%
Return On Investment Capital (ROIC_SIMPLE)	15.65%	11.00%	-1.05%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	58.72%	61.21%	65.68%	60.19%	65.91%	62.56%	61.87%	61.74%	63.65%	63.79%
SG&A Expenses to Revenue	33.91%	35.03%	0.00%	0.00%	40.34%	33.93%	0.00%	28.93%	28.67%	26.56%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	33.91%	35.03%	34.76%	34.96%	40.34%	33.93%	29.92%	28.93%	28.67%	26.56%
Earnings before Interest and Taxes (EBIT)	1,112	560	-69	810	-862	574	1,362	1,479	1,191	1,524
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,616	1,086	477	1,328	-343	1,133	1,881	1,978	1,722	2,051
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.78	2.76	1.99	2.15	2.50	1.69	2.20	3.14	2.37	2.87
Price to Tangible Book Value (P/TBV)	2.78	2.76	1.99	2.15	2.50	1.69	2.20	3.14	2.37	2.87
Price to Revenue (P/Rev)	0.60	0.48	0.29	0.35	0.47	0.34	0.47	0.62	0.44	0.46
Price to Earnings (P/E)	10.76	14.25	0.00	22.87	0.00	15.96	7.79	11.66	10.20	7.95
Dividend Yield	2.49%	3.11%	4.92%	3.84%	0.00%	6.46%	4.73%	3.62%	5.32%	5.06%
Earnings Yield	9.30%	7.02%	0.00%	4.37%	0.00%	6.26%	12.83%	8.58%	9.81%	12.58%
Enterprise Value to Invested Capital (EV/IC)	3.16	2.67	1.65	1.83	2.36	1.27	1.95	2.80	2.16	2.19
Enterprise Value to Revenue (EV/Rev)	0.56	0.49	0.36	0.41	0.49	0.65	0.53	0.66	0.48	0.55
Enterprise Value to EBITDA (EV/EBITDA)	5.26	6.70	11.77	5.20	0.00	9.45	4.66	5.30	4.31	4.27
Enterprise Value to EBIT (EV/EBIT)	7.65	13.00	0.00	8.53	0.00	18.65	6.44	7.09	6.24	5.74
Enterprise Value to NOPAT (EV/NOPAT)	10.30	14.40	0.00	10.76	0.00	28.06	8.49	11.91	10.37	9.19
Enterprise Value to Operating Cash Flow (EV/OCF)	5.72	4.75	9.25	8.54	28.63	7.59	6.35	7.60	4.32	5.49
Enterprise Value to Free Cash Flow (EV/FCFF)	9.89	6.16	17.14	0.00	1.37	0.00	32.20	18.25	5.87	9.45
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.62	0.77	1.07	0.71	1.02	2.04	0.65	0.76	0.80	1.11
Long-Term Debt to Equity	0.62	0.77	1.07	0.71	1.02	2.04	0.65	0.76	0.78	0.94
Financial Leverage	-0.08	0.27	0.45	0.25	0.90	0.88	0.23	0.19	0.36	0.44
Leverage Ratio	3.91	4.65	4.87	4.97	4.63	3.16	2.39	2.58	2.77	2.74
Compound Leverage Factor	4.00	4.61	9.82	1.98	5.92	2.91	2.32	2.48	2.61	2.65
Debt to Total Capital	38.14%	43.53%	51.59%	41.48%	50.38%	67.08%	39.53%	43.14%	44.39%	52.51%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.24%	7.86%
Long-Term Debt to Total Capital	38.14%	43.53%	51.59%	41.48%	50.38%	67.08%	39.53%	43.14%	43.14%	44.65%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	61.87%	56.47%	48.41%	58.53%	49.62%	32.92%	60.47%	56.86%	55.61%	47.49%
Debt to EBITDA	1.25	1.84	4.99	1.45	-7.74	5.96	1.24	1.21	1.35	1.37
Net Debt to EBITDA	-0.36	0.12	2.44	0.79	-0.75	4.50	0.51	0.30	0.31	0.70
Long-Term Debt to EBITDA	1.25	1.84	4.99	1.45	-7.74	5.96	1.24	1.21	1.31	1.17
Debt to NOPAT	2.44	3.96	-49.28	3.00	-4.40	17.71	2.25	2.71	3.24	2.95
Net Debt to NOPAT	-0.70	0.25	-24.12	1.64	-0.42	13.37	0.92	0.68	0.75	1.52
Long-Term Debt to NOPAT	2.44	3.96	-49.28	3.00	-4.40	17.71	2.25	2.71	3.15	2.51
Altman Z-Score	2.76	2.47	2.05	2.26	1.59	2.11	4.58	4.68	4.23	4.37
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.60	1.42	1.42	1.27	1.55	1.41	1.96	1.86	1.76	1.57
Quick Ratio	0.79	0.61	0.37	0.22	0.62	0.52	0.63	0.72	0.73	0.54
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	859	1,182	328	-262	4,946	-3,531	272	575	1,266	926
Operating Cash Flow to CapEx	337.73%	445.35%	267.40%	116.57%	60.46%	171.03%	195.89%	188.78%	328.05%	219.56%
Free Cash Flow to Firm to Interest Expense	9.88	13.13	3.72	-0.53	19.78	-46.47	3.73	7.77	16.88	15.70
Operating Cash Flow to Interest Expense	17.08	17.02	6.90	1.64	0.95	18.57	18.92	18.65	22.92	27.02
Operating Cash Flow Less CapEx to Interest Expense	12.02	13.20	4.32	0.23	-0.62	7.71	9.26	8.77	15.93	14.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.32	1.33	1.29	1.26	1.01	1.51	2.07	2.03	2.06	2.08
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	4.36	4.16	3.79	3.67	3.95	4.78	4.97	5.12	5.33	5.36
Fixed Asset Turnover	5.96	5.67	5.46	5.67	4.63	5.43	5.80	5.85	5.68	5.62
Accounts Payable Turnover	6.25	6.83	6.27	5.43	6.24	8.91	8.89	8.08	8.39	8.82
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	83.68	87.79	96.21	99.48	92.44	76.33	73.44	71.35	68.43	68.13
Days Payable Outstanding (DPO)	58.44	53.44	58.20	67.19	58.53	40.95	41.04	45.19	43.52	41.38
Cash Conversion Cycle (CCC)	25.24	34.34	38.01	32.29	33.91	35.38	32.40	26.16	24.91	26.75
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,688	2,722	3,398	3,774	2,870	8,419	4,506	3,745	3,439	3,989
Invested Capital Turnover	5.58	4.87	4.35	5.02	2.44	2.54	4.02	4.41	4.18	3.97
Increase / (Decrease) in Invested Capital	-34	-676	-376	904	-5,549	3,913	761	306	-550	27
Enterprise Value (EV)	8,501	7,281	5,616	6,906	6,785	10,706	8,769	10,488	7,429	8,755
Market Capitalization	9,077	7,154	4,451	5,854	6,529	5,603	7,815	9,886	6,894	7,311
Book Value per Share	$8.66	$7.00	$6.12	$7.29	$6.99	$8.88	$9.31	$8.09	$7.28	$6.33
Tangible Book Value per Share	$8.66	$7.00	$6.12	$7.29	$6.99	$8.88	$9.31	$8.09	$7.28	$6.33
Total Capital	5,276	4,595	4,613	4,651	5,268	10,073	5,876	5,529	5,222	5,359
Total Debt	2,012	2,000	2,380	1,929	2,654	6,757	2,323	2,385	2,318	2,814
Total Long-Term Debt	2,012	2,000	2,380	1,929	2,654	6,757	2,323	2,385	2,253	2,393
Net Debt	-576	127	1,165	1,052	256	5,103	954	602	535	1,444
Capital Expenditures (CapEx)	440	344	227	694	392	825	705	731	524	726
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-641	-574	146	211	-274	-347	708	324	144	501
Debt-free Net Working Capital (DFNWC)	1,947	1,299	1,361	1,088	2,124	1,307	2,077	2,107	1,927	1,871
Net Working Capital (NWC)	1,947	1,299	1,361	1,088	2,124	1,307	2,077	2,107	1,862	1,450
Net Nonoperating Expense (NNE)	-19	3.61	154	386	62	31	30	33	40	33
Net Nonoperating Obligations (NNO)	-576	127	1,165	1,052	256	5,103	953	601	535	1,444
Total Depreciation and Amortization (D&A)	504	526	546	518	519	559	519	499	531	527
Debt-free, Cash-free Net Working Capital to Revenue	-4.25%	-3.86%	0.93%	1.27%	-1.99%	-2.12%	4.27%	2.04%	0.93%	3.17%
Debt-free Net Working Capital to Revenue	12.91%	8.72%	8.72%	6.53%	15.39%	7.98%	12.53%	13.29%	12.42%	11.84%
Net Working Capital to Revenue	12.91%	8.72%	8.72%	6.53%	15.39%	7.98%	12.53%	13.29%	12.00%	9.18%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.24	$1.36	($0.55)	$0.68	($1.78)	$0.93	$2.61	$2.16	$1.69	$2.24
Adjusted Weighted Average Basic Shares Outstanding	376M	370M	367M	376M	374M	376M	385M	393M	399M	411M
Adjusted Diluted Earnings per Share	$2.20	$1.34	($0.55)	$0.67	($1.78)	$0.93	$2.59	$2.14	$1.69	$2.23
Adjusted Weighted Average Diluted Shares Outstanding	384M	376M	367M	383M	374M	378M	388M	396M	400M	413M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	374.90M	747.03M	732.42M	739.56M	749.70M	371.30M	378.60M	389.32M	399.84M	397.14M
Normalized Net Operating Profit after Tax (NOPAT)	825	506	-48	642	-603	382	1,033	881	716	953
Normalized NOPAT Margin	5.47%	3.40%	-0.31%	3.85%	-4.37%	2.33%	6.23%	5.56%	4.62%	6.03%
Pre Tax Income Margin	7.54%	3.73%	-0.89%	1.94%	-7.99%	3.22%	7.97%	8.98%	7.24%	9.31%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.78	6.22	-0.78	1.65	-3.45	7.55	18.66	19.99	15.88	25.83
NOPAT to Interest Expense	9.49	5.62	-0.55	1.30	-2.41	5.02	14.16	11.90	9.55	16.16
EBIT Less CapEx to Interest Expense	7.72	2.40	-3.36	0.24	-5.02	-3.30	9.00	10.11	8.89	13.53
NOPAT Less CapEx to Interest Expense	4.43	1.80	-3.13	-0.11	-3.98	-5.83	4.50	2.02	2.56	3.85
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	26.66%	44.22%	-108.91%	88.28%	0.00%	103.70%	37.19%	42.57%	54.29%	40.98%
Augmented Payout Ratio	35.55%	44.22%	-169.80%	166.80%	0.00%	160.68%	76.87%	79.72%	54.29%	151.30%

This table displays calculated financial ratios and metrics derived from GAP's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/1/2025	11/2/2024	8/3/2024	5/4/2024	2/3/2024	10/28/2023	7/29/2023	4/29/2023	1/28/2023	10/29/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.47%	1.65%	4.85%	3.42%	1.30%	-6.73%	-8.01%	-5.78%	-6.23%	2.43%
EBITDA Growth	13.45%	27.06%	76.27%	159.06%	213.76%	15.29%	122.64%	295.38%	-23.78%	15.14%
EBIT Growth	21.03%	42.00%	176.42%	2,150.00%	813.33%	34.41%	478.57%	94.92%	-475.00%	21.57%
NOPAT Growth	8.01%	23.60%	77.57%	2,324.59%	964.79%	-30.18%	685.88%	94.92%	-475.00%	191.52%
Net Income Growth	11.35%	25.69%	76.07%	977.78%	167.77%	-22.70%	338.78%	88.89%	-1,606.25%	285.53%
EPS Growth	8.16%	24.14%	68.75%	920.00%	165.33%	-24.68%	346.15%	88.64%	-2,400.00%	292.50%
Operating Cash Flow Growth	-12.00%	-4.28%	7.02%	100.00%	-2.64%	220.00%	230.97%	104.14%	466.14%	186.36%
Free Cash Flow Firm Growth	-73.16%	-69.08%	-53.96%	-9.38%	141.58%	682.38%	208.64%	152.59%	139.51%	80.54%
Invested Capital Growth	-1.25%	-5.05%	-9.09%	-12.00%	-19.89%	-27.21%	-23.35%	-15.63%	-9.96%	14.77%
Revenue Q/Q Growth	8.36%	2.93%	9.80%	-21.17%	14.10%	6.17%	8.30%	-22.79%	5.05%	4.72%
EBITDA Q/Q Growth	-19.00%	15.14%	26.44%	-4.08%	-9.28%	59.75%	85.83%	16.51%	-66.67%	208.49%
EBIT Q/Q Growth	-27.04%	21.16%	42.93%	-4.21%	-14.40%	135.85%	1,160.00%	66.67%	-116.13%	764.29%
NOPAT Q/Q Growth	-27.20%	32.14%	30.95%	-14.25%	-16.69%	89.84%	1,740.48%	66.67%	-106.73%	1,692.93%
Net Income Q/Q Growth	-24.82%	33.01%	30.38%	-14.59%	-15.14%	86.32%	750.00%	93.41%	-196.81%	675.51%
EPS Q/Q Growth	-26.39%	33.33%	31.71%	-16.33%	-15.52%	81.25%	740.00%	93.33%	-197.40%	692.31%
Operating Cash Flow Q/Q Growth	111.68%	-46.99%	1,730.00%	-95.71%	130.26%	-40.74%	3,320.00%	-97.91%	656.84%	-38.71%
Free Cash Flow Firm Q/Q Growth	-46.03%	-11.51%	-14.36%	-34.38%	-37.81%	31.73%	68.57%	74.93%	249.92%	75.43%
Invested Capital Q/Q Growth	-8.85%	6.00%	-6.77%	9.63%	-12.36%	1.50%	-9.76%	-0.21%	-20.37%	6.89%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.85%	42.70%	42.55%	41.23%	38.90%	41.31%	37.57%	37.06%	33.56%	37.36%
EBITDA Margin	9.35%	12.51%	11.18%	9.71%	7.96%	10.01%	6.65%	3.88%	2.57%	8.10%
Operating Margin	6.24%	9.27%	7.88%	6.05%	4.98%	6.64%	2.99%	-0.31%	-0.71%	4.61%
EBIT Margin	6.24%	9.27%	7.88%	6.05%	4.98%	6.64%	2.99%	-0.31%	-0.71%	4.61%
Profit (Net Income) Margin	4.97%	7.16%	5.54%	4.66%	4.30%	5.79%	3.30%	-0.55%	-6.43%	6.98%
Tax Burden Percent	75.74%	75.90%	69.59%	75.96%	84.86%	87.20%	108.33%	90.00%	634.88%	167.86%
Interest Burden Percent	105.02%	101.69%	101.02%	101.46%	101.87%	100.00%	101.89%	200.00%	143.33%	90.32%
Effective Tax Rate	24.26%	24.10%	30.41%	24.04%	15.14%	12.80%	-8.33%	0.00%	0.00%	-67.86%
Return on Invested Capital (ROIC)	26.37%	35.41%	28.47%	21.63%	20.56%	23.29%	13.87%	-0.89%	-2.16%	30.78%
ROIC Less NNEP Spread (ROIC-NNEP)	21.98%	37.39%	29.09%	21.94%	21.08%	23.29%	14.04%	-1.68%	-24.89%	28.48%
Return on Net Nonoperating Assets (RNNOA)	-1.68%	3.07%	3.82%	6.65%	5.64%	10.84%	7.64%	-1.01%	-11.14%	13.96%
Return on Equity (ROE)	24.68%	38.49%	32.29%	28.28%	26.20%	34.13%	21.50%	-1.89%	-13.29%	44.74%
Cash Return on Invested Capital (CROIC)	31.77%	31.97%	35.51%	33.80%	38.61%	32.77%	30.06%	13.71%	9.14%	-14.29%
Operating Return on Assets (OROA)	8.21%	12.33%	10.69%	8.31%	6.61%	8.54%	3.92%	-0.41%	-0.91%	5.91%
Return on Assets (ROA)	6.53%	9.52%	7.52%	6.41%	5.71%	7.45%	4.33%	-0.73%	-8.32%	8.96%
Return on Common Equity (ROCE)	24.68%	38.49%	32.29%	28.28%	26.20%	34.13%	21.50%	-1.89%	-13.29%	44.74%
Return on Equity Simple (ROE_SIMPLE)	0.00%	26.25%	26.44%	25.05%	0.00%	1.79%	4.77%	-2.65%	0.00%	2.14%
Net Operating Profit after Tax (NOPAT)	196	269	204	156	182	218	115	-7.00	-21	312
NOPAT Margin	4.73%	7.04%	5.48%	4.60%	4.23%	5.79%	3.24%	-0.21%	-0.49%	7.73%
Net Nonoperating Expense Percent (NNEP)	4.39%	-1.98%	-0.62%	-0.31%	-0.53%	0.00%	-0.17%	0.79%	22.73%	2.30%
Return On Investment Capital (ROIC_SIMPLE)	3.72%	-	-	-	3.95%	-	-	-	-0.46%	-
Cost of Revenue to Revenue	61.15%	57.30%	57.45%	58.77%	61.10%	58.69%	62.43%	62.94%	66.44%	62.64%
SG&A Expenses to Revenue	32.61%	33.43%	34.68%	35.18%	0.00%	34.67%	34.58%	0.00%	0.00%	32.76%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	32.61%	33.43%	34.68%	35.18%	33.92%	34.67%	34.58%	37.36%	34.27%	32.76%
Earnings before Interest and Taxes (EBIT)	259	355	293	205	214	250	106	-10	-30	186
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	388	479	416	329	342	377	236	127	109	327
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.78	2.49	2.81	2.96	2.76	1.87	1.63	1.53	1.99	1.47
Price to Tangible Book Value (P/TBV)	2.78	2.49	2.81	2.96	2.76	1.87	1.63	1.53	1.99	1.47
Price to Revenue (P/Rev)	0.60	0.51	0.54	0.53	0.48	0.31	0.24	0.22	0.29	0.24
Price to Earnings (P/E)	10.76	9.48	10.61	11.82	14.25	104.45	34.09	0.00	0.00	68.73
Dividend Yield	2.49%	2.89%	2.77%	2.80%	3.11%	4.83%	6.00%	6.58%	4.92%	5.48%
Earnings Yield	9.30%	10.54%	9.42%	8.46%	7.02%	0.96%	2.93%	0.00%	0.00%	1.46%
Enterprise Value to Invested Capital (EV/IC)	3.16	2.58	2.88	2.78	2.67	1.69	1.46	1.34	1.65	1.28
Enterprise Value to Revenue (EV/Rev)	0.56	0.50	0.53	0.55	0.49	0.35	0.30	0.30	0.36	0.34
Enterprise Value to EBITDA (EV/EBITDA)	5.26	4.87	5.48	6.44	6.70	6.18	5.62	6.80	11.77	10.72
Enterprise Value to EBIT (EV/EBIT)	7.65	7.14	8.34	10.70	13.00	16.59	17.77	38.53	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	10.30	9.40	10.56	12.37	14.40	111.22	35.05	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	5.72	4.85	5.07	5.36	4.75	3.38	3.34	4.62	9.25	365.07
Enterprise Value to Free Cash Flow (EV/FCFF)	9.89	7.87	7.73	7.70	6.16	4.34	4.23	8.95	17.14	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.62	0.65	0.70	0.74	0.77	0.81	0.95	1.09	1.07	0.92
Long-Term Debt to Equity	0.62	0.65	0.70	0.74	0.77	0.81	0.95	1.09	1.07	0.92
Financial Leverage	-0.08	0.08	0.13	0.30	0.27	0.47	0.54	0.60	0.45	0.49
Leverage Ratio	3.91	4.09	4.33	4.46	4.65	4.58	5.04	5.00	4.87	4.62
Compound Leverage Factor	4.11	4.16	4.37	4.53	4.73	4.58	5.13	10.00	6.99	4.18
Debt to Total Capital	38.14%	39.34%	41.13%	42.59%	43.53%	44.81%	48.68%	52.09%	51.59%	48.02%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	38.14%	39.34%	41.13%	42.59%	43.53%	44.81%	48.68%	52.09%	51.59%	48.02%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	61.87%	60.66%	58.87%	57.41%	56.47%	55.19%	51.32%	47.91%	48.41%	51.98%
Debt to EBITDA	1.25	1.30	1.38	1.56	1.84	2.36	2.69	3.55	4.99	4.65
Net Debt to EBITDA	-0.36	-0.12	-0.08	0.22	0.12	0.76	1.00	1.80	2.44	3.32
Long-Term Debt to EBITDA	1.25	1.30	1.38	1.56	1.84	2.36	2.69	3.55	4.99	4.65
Debt to NOPAT	2.44	2.51	2.67	3.00	3.96	42.37	16.80	-19.79	-49.28	-109.45
Net Debt to NOPAT	-0.70	-0.23	-0.16	0.41	0.25	13.71	6.24	-10.04	-24.12	-78.16
Long-Term Debt to NOPAT	2.44	2.51	2.67	3.00	3.96	42.37	16.80	-19.79	-49.28	-109.45
Altman Z-Score	2.53	2.45	2.46	2.50	2.37	2.16	2.09	2.05	2.06	2.07
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.60	1.54	1.49	1.50	1.42	1.39	1.41	1.47	1.42	1.49
Quick Ratio	0.79	0.67	0.67	0.62	0.61	0.43	0.45	0.40	0.37	0.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	230	426	482	563	858	1,379	1,047	621	355	-237
Operating Cash Flow to CapEx	560.00%	196.62%	616.85%	32.26%	530.30%	341.57%	625.61%	36.59%	665.74%	206.52%
Free Cash Flow to Firm to Interest Expense	12.11	18.54	20.08	26.80	35.73	49.25	69.79	27.00	14.20	-10.76
Operating Cash Flow to Interest Expense	32.42	12.65	22.88	1.43	29.17	10.86	34.20	0.65	28.76	4.32
Operating Cash Flow Less CapEx to Interest Expense	26.63	6.22	19.17	-3.00	23.67	7.68	28.73	-1.13	24.44	2.23
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.32	1.33	1.36	1.37	1.33	1.29	1.31	1.33	1.29	1.28
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	4.36	3.80	4.14	4.25	4.16	3.43	3.59	3.64	3.79	3.62
Fixed Asset Turnover	5.96	5.98	5.93	5.80	5.67	5.56	5.59	5.67	5.46	5.57
Accounts Payable Turnover	6.25	6.05	6.12	7.55	6.83	6.60	6.32	7.10	6.27	6.92
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	83.68	96.02	88.21	85.79	87.79	106.28	101.64	100.41	96.21	100.76
Days Payable Outstanding (DPO)	58.44	60.29	59.61	48.33	53.44	55.32	57.75	51.38	58.20	52.76
Cash Conversion Cycle (CCC)	25.24	35.73	28.60	37.46	34.34	50.96	43.89	49.03	38.01	48.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,688	2,949	2,782	2,984	2,722	3,106	3,060	3,391	3,398	4,267
Invested Capital Turnover	5.58	5.03	5.19	4.71	4.87	4.02	4.28	4.16	4.35	3.98
Increase / (Decrease) in Invested Capital	-34	-157	-278	-407	-676	-1,161	-932	-628	-376	549
Enterprise Value (EV)	8,501	7,619	8,020	8,289	7,281	5,242	4,479	4,547	5,616	5,476
Market Capitalization	9,077	7,805	8,139	8,012	7,154	4,596	3,682	3,341	4,451	3,780
Book Value per Share	$8.66	$8.33	$7.73	$7.25	$7.00	$6.65	$6.15	$5.97	$6.12	$7.07
Tangible Book Value per Share	$8.66	$8.33	$7.73	$7.25	$7.00	$6.65	$6.15	$5.97	$6.12	$7.07
Total Capital	5,276	5,168	4,928	4,715	4,595	4,457	4,410	4,561	4,613	4,946
Total Debt	2,012	2,033	2,027	2,008	2,000	1,997	2,147	2,376	2,380	2,375
Total Long-Term Debt	2,012	2,033	2,027	2,008	2,000	1,997	2,147	2,376	2,380	2,375
Net Debt	-576	-186	-119	277	127	646	797	1,206	1,165	1,696
Capital Expenditures (CapEx)	110	148	89	93	132	89	82	41	108	46
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-641	-414	-561	-340	-574	-116	-118	195	146	978
Debt-free Net Working Capital (DFNWC)	1,947	1,805	1,585	1,391	1,299	1,235	1,232	1,365	1,361	1,657
Net Working Capital (NWC)	1,947	1,805	1,585	1,391	1,299	1,235	1,232	1,365	1,361	1,657
Net Nonoperating Expense (NNE)	-9.85	-4.55	-2.09	-2.28	-3.39	0.00	-2.17	11	252	30
Net Nonoperating Obligations (NNO)	-576	-186	-119	277	127	646	797	1,206	1,165	1,696
Total Depreciation and Amortization (D&A)	129	124	123	124	128	127	130	137	139	141
Debt-free, Cash-free Net Working Capital to Revenue	-4.25%	-2.72%	-3.70%	-2.27%	-3.86%	-0.78%	-0.78%	1.27%	0.93%	6.15%
Debt-free Net Working Capital to Revenue	12.91%	11.85%	10.45%	9.27%	8.72%	8.33%	8.16%	8.86%	8.72%	10.42%
Net Working Capital to Revenue	12.91%	11.85%	10.45%	9.27%	8.72%	8.33%	8.16%	8.86%	8.72%	10.42%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.54	$0.73	$0.55	$0.42	$0.50	$0.59	$0.32	($0.05)	($0.75)	$0.77
Adjusted Weighted Average Basic Shares Outstanding	376M	377M	376M	374M	370M	371M	369M	367M	367M	365M
Adjusted Diluted Earnings per Share	$0.53	$0.72	$0.54	$0.41	$0.49	$0.58	$0.32	($0.05)	($0.75)	$0.77
Adjusted Weighted Average Diluted Shares Outstanding	384M	383M	383M	383M	376M	375M	371M	367M	367M	366M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	374.90M	377.12M	376.32M	375.07M	747.03M	370.83M	369.88M	368.06M	732.42M	365.05M
Normalized Net Operating Profit after Tax (NOPAT)	196	269	204	156	182	218	74	-7.00	-21	130
Normalized NOPAT Margin	4.73%	7.04%	5.48%	4.60%	4.23%	5.79%	2.09%	-0.21%	-0.49%	3.22%
Pre Tax Income Margin	6.56%	9.43%	7.96%	6.14%	5.07%	6.64%	3.04%	-0.61%	-1.01%	4.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	13.63	15.43	12.21	9.76	8.92	8.93	7.07	-0.43	-1.20	8.45
NOPAT to Interest Expense	10.32	11.72	8.50	7.42	7.57	7.79	7.66	-0.30	-0.84	14.19
EBIT Less CapEx to Interest Expense	7.84	9.00	8.50	5.33	3.42	5.75	1.60	-2.22	-5.52	6.36
NOPAT Less CapEx to Interest Expense	4.53	5.28	4.79	2.99	2.07	4.61	2.19	-2.09	-5.16	12.10
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	26.66%	27.34%	29.07%	32.89%	44.22%	500.00%	203.70%	-377.59%	-108.91%	381.82%
Augmented Payout Ratio	35.55%	27.34%	29.07%	32.89%	44.22%	500.00%	214.81%	-496.55%	-169.80%	738.18%

Frequently Asked Questions About GAP's Financials

When does GAP's fiscal year end?

According to the most recent income statement we have on file, GAP's financial year ends in February. Their financial year 2025 ended on February 1, 2025.

How has GAP's net income changed over the last 9 years?

GAP's net income appears to be on a downward trend, with a most recent value of $844 million in 2024, falling from $920 million in 2015. The previous period was $502 million in 2023. View GAP's forecast to see where analysts expect GAP to go next.

What is GAP's operating income?

GAP's total operating income in 2024 was $1.11 billion, based on the following breakdown:

Total Gross Profit: $6.23 billion
Total Operating Expenses: $5.12 billion

How has GAP revenue changed over the last 9 years?

Over the last 9 years, GAP's total revenue changed from $15.80 billion in 2015 to $15.09 billion in 2024, a change of -4.5%.

How much debt does GAP have?

GAP's total liabilities were at $8.62 billion at the end of 2024, a 2.0% increase from 2023, and a 74.9% increase since 2015.

How much cash does GAP have?

In the past 9 years, GAP's cash and equivalents has ranged from $877 million in 2021 to $2.34 billion in 2024, and is currently $2.34 billion as of their latest financial filing in 2024.

How has GAP's book value per share changed over the last 9 years?

Over the last 9 years, GAP's book value per share changed from 6.33 in 2015 to 8.66 in 2024, a change of 36.7%.

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This page (NYSE:GAP) was last updated on 5/28/2025 by MarketBeat.com Staff

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GAP (GAP) Financials

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GAP (GAP) Financials

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