GAP (GAP) Financials

$22.67 -0.20 (-0.87%)

Closing price 03:59 PM Eastern

Extended Trading

$22.50 -0.18 (-0.78%)

As of 04:56 PM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025
Net Income / (Loss) Attributable to Common Shareholders	920	676	848	1,003	351	-665	256	-202	502	844
Consolidated Net Income / (Loss)	920	676	848	1,003	351	-665	256	-202	502	844
Net Income / (Loss) Continuing Operations	920	676	848	1,003	351	-665	256	-202	502	844
Total Pre-Tax Income	1,471	1,124	1,424	1,322	528	-1,102	323	-139	556	1,137
Total Operating Income	1,524	1,191	1,479	1,362	574	-862	810	-69	560	1,112
Total Gross Profit	5,720	5,640	6,066	6,322	6,133	4,705	6,637	5,359	5,775	6,227
Total Revenue	15,797	15,516	15,855	16,580	16,383	13,800	16,670	15,616	14,889	15,086
Operating Revenue	15,797	15,516	15,855	16,580	16,383	13,800	16,670	15,616	14,889	15,086
Total Cost of Revenue	10,077	9,876	9,789	10,258	10,250	9,095	10,033	10,257	9,114	8,859
Operating Cost of Revenue	10,077	9,876	9,789	10,258	10,250	9,095	10,033	10,257	9,114	8,859
Total Operating Expenses	4,196	4,449	4,587	4,960	5,559	5,567	5,827	5,428	5,215	5,115
Selling, General & Admin Expense	4,196	4,449	4,587	-	5,559	5,567	-	-	5,215	5,115
Total Other Income / (Expense), net	-53	-67	-55	-40	-46	-240	-487	-70	-4.00	25
Interest Expense	59	75	74	73	76	250	492	88	90	87
Interest & Investment Income	6.00	8.00	19	33	30	10	5.00	18	86	112
Income Tax Expense	551	448	576	319	177	-437	67	63	54	293
Basic Earnings per Share	$2.24	$1.69	$2.16	$2.61	$0.93	($1.78)	$0.68	($0.55)	$1.36	$2.24
Weighted Average Basic Shares Outstanding	411M	399M	393M	385M	376M	374M	376M	367M	370M	376M
Diluted Earnings per Share	$2.23	$1.69	$2.14	$2.59	$0.93	($1.78)	$0.67	($0.55)	$1.34	$2.20
Weighted Average Diluted Shares Outstanding	413M	400M	396M	388M	378M	374M	383M	367M	376M	384M
Weighted Average Basic & Diluted Shares Outstanding	410.70M	400M	392.60M	384.30M	371.30M	749.70M	739.56M	732.42M	747.03M	374.90M
Cash Dividends to Common per Share	$0.92	$0.92	$0.92	$0.97	$0.97	$0.24	$0.36	$0.60	$0.60	$0.60

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

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

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

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

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

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 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	10/29/2022	4/29/2023	7/29/2023	10/28/2023	5/4/2024	8/3/2024	11/2/2024
Total Assets	12,000	10,932	10,850	11,052	10,908	11,509	11,853
Total Current Assets	5,038	4,283	4,239	4,374	4,197	4,809	5,130
Cash & Equivalents	679	1,170	1,350	1,351	1,532	1,900	1,969
Short-Term Investments	0.00	0.00	0.00	0.00	199	246	250
Inventories, net	3,043	2,299	2,226	2,377	1,952	2,107	2,331
Other Current Assets	1,316	814	663	646	514	556	580
Plant, Property, & Equipment, net	2,788	2,646	2,595	2,552	2,528	2,525	2,546
Total Noncurrent Assets	4,174	4,003	4,016	4,126	4,183	4,175	4,177
Other Noncurrent Operating Assets	4,174	4,003	4,016	4,126	4,183	4,175	4,177
Total Liabilities & Shareholders' Equity	12,000	10,932	10,850	11,052	10,908	11,509	11,853
Total Liabilities	9,429	8,747	8,587	8,592	8,201	8,608	8,718
Total Current Liabilities	3,381	2,918	3,007	3,139	2,806	3,224	3,325
Accounts Payable	1,388	1,199	1,406	1,433	1,196	1,522	1,523
Accrued Expenses	1,245	1,051	1,007	1,078	942	1,029	1,135
Current Deferred & Payable Income Tax Liabilities	57	10	16	24	44	60	50
Other Current Liabilities	691	658	578	604	624	613	617
Total Noncurrent Liabilities	6,048	5,829	5,580	5,453	5,395	5,384	5,393
Long-Term Debt	1,836	1,837	1,637	1,488	1,489	1,489	1,489
Capital Lease Obligations	539	539	510	509	519	538	544
Other Noncurrent Operating Liabilities	3,673	3,453	3,433	3,456	3,387	3,357	3,360
Total Equity & Noncontrolling Interests	2,571	2,185	2,263	2,460	2,707	2,901	3,135
Total Preferred & Common Equity	2,571	2,185	2,263	2,460	2,707	2,901	3,135
Total Common Equity	2,571	2,185	2,263	2,460	2,707	2,901	3,135
Common Stock	34	65	91	111	138	178	196
Retained Earnings	2,468	2,067	2,128	2,291	2,522	2,672	2,889
Accumulated Other Comprehensive Income / (Loss)	69	53	44	58	47	51	50
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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.88%	-1.78%	2.18%	4.57%	-1.19%	-15.77%	20.80%	-6.32%	-4.66%	1.32%
EBITDA Growth	-20.60%	-16.04%	14.87%	-4.90%	-39.77%	-130.27%	487.17%	-64.08%	127.67%	48.80%
EBIT Growth	-26.84%	-21.85%	24.18%	-7.91%	-57.86%	-250.17%	193.97%	-108.52%	911.59%	98.57%
NOPAT Growth	-27.01%	-24.85%	22.96%	17.33%	-63.07%	-258.13%	206.39%	-107.52%	1,146.81%	63.26%
Net Income Growth	-27.10%	-26.52%	25.44%	18.28%	-65.01%	-289.46%	138.50%	-178.91%	348.51%	68.13%
EPS Growth	-22.30%	-24.22%	26.63%	21.03%	-64.09%	-291.40%	137.64%	-182.09%	343.64%	64.18%
Operating Cash Flow Growth	-25.13%	7.84%	-19.72%	0.07%	2.17%	-83.20%	241.35%	-24.97%	152.39%	-3.00%
Free Cash Flow Firm Growth	-26.66%	36.73%	-54.61%	-52.61%	-1,396.66%	240.05%	-105.30%	225.07%	260.58%	-27.27%
Invested Capital Growth	0.68%	-13.79%	8.90%	20.32%	86.84%	-65.91%	31.50%	-9.96%	-19.89%	-1.25%
Revenue Q/Q Growth	-2.00%	0.28%	2.25%	-0.93%	0.31%	-1.78%	0.61%	-1.77%	0.37%	-0.98%
EBITDA Q/Q Growth	-7.32%	-3.48%	4.93%	-0.63%	-35.18%	51.76%	-8.35%	-6.65%	28.07%	3.19%
EBIT Q/Q Growth	-9.72%	-4.34%	6.86%	-1.73%	-51.81%	30.54%	-13.46%	-122.58%	77.22%	4.22%
NOPAT Q/Q Growth	-10.04%	1.24%	-2.22%	7.19%	-54.69%	30.54%	-44.70%	-122.58%	972.75%	1.80%
Net Income Q/Q Growth	-10.24%	0.90%	-1.74%	7.62%	-56.72%	38.60%	-49.41%	-467.27%	1,040.91%	2.55%
EPS Q/Q Growth	-8.23%	0.60%	-1.38%	8.37%	-56.34%	0.00%	0.00%	-423.53%	1,240.00%	1.85%
Operating Cash Flow Q/Q Growth	-8.86%	3.55%	-9.15%	2.52%	5.14%	-81.51%	55.58%	3,946.67%	-1.23%	-5.35%
Free Cash Flow Firm Q/Q Growth	-8.08%	12.01%	-39.42%	-29.08%	-400.77%	431.04%	-60.57%	157.42%	-2.20%	-11.20%
Invested Capital Q/Q Growth	-9.69%	-13.90%	-5.09%	-0.44%	100.74%	19.88%	1.51%	-20.37%	-12.36%	-8.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.21%	36.35%	38.26%	38.13%	37.44%	34.09%	39.81%	34.32%	38.79%	41.28%
EBITDA Margin	12.98%	11.10%	12.48%	11.35%	6.92%	-2.49%	7.97%	3.05%	7.29%	10.71%
Operating Margin	9.65%	7.68%	9.33%	8.21%	3.50%	-6.25%	4.86%	-0.44%	3.76%	7.37%
EBIT Margin	9.65%	7.68%	9.33%	8.21%	3.50%	-6.25%	4.86%	-0.44%	3.76%	7.37%
Profit (Net Income) Margin	5.82%	4.36%	5.35%	6.05%	2.14%	-4.82%	1.54%	-1.29%	3.37%	5.59%
Tax Burden Percent	62.54%	60.14%	59.55%	75.87%	66.48%	60.34%	79.26%	145.32%	90.29%	74.23%
Interest Burden Percent	96.52%	94.37%	96.28%	97.06%	91.99%	127.84%	39.88%	201.45%	99.29%	102.25%
Effective Tax Rate	37.46%	39.86%	40.45%	24.13%	33.52%	0.00%	20.74%	0.00%	9.71%	25.77%
Return on Invested Capital (ROIC)	23.98%	19.29%	24.52%	25.05%	5.90%	-10.69%	19.33%	-1.35%	16.52%	30.52%
ROIC Less NNEP Spread (ROIC-NNEP)	21.24%	15.21%	18.75%	21.14%	4.89%	-12.99%	-39.69%	-15.21%	15.96%	22.25%
Return on Net Nonoperating Assets (RNNOA)	9.31%	5.53%	3.52%	4.91%	4.32%	-11.74%	-9.73%	-6.81%	4.27%	-1.71%
Return on Equity (ROE)	33.29%	24.81%	28.04%	29.95%	10.22%	-22.43%	9.60%	-8.15%	20.80%	28.81%
Cash Return on Invested Capital (CROIC)	23.30%	34.10%	16.00%	6.60%	-54.64%	87.62%	-7.89%	9.14%	38.61%	31.77%
Operating Return on Assets (OROA)	20.10%	15.79%	18.96%	16.98%	5.28%	-6.28%	6.11%	-0.57%	4.99%	9.70%
Return on Assets (ROA)	12.13%	8.96%	10.87%	12.51%	3.23%	-4.85%	1.93%	-1.67%	4.48%	7.36%
Return on Common Equity (ROCE)	33.29%	24.81%	28.04%	29.95%	10.22%	-22.43%	9.60%	-8.15%	20.80%	28.81%
Return on Equity Simple (ROE_SIMPLE)	36.15%	23.28%	26.97%	28.23%	10.59%	-25.44%	9.40%	-9.05%	19.34%	25.86%
Net Operating Profit after Tax (NOPAT)	953	716	881	1,033	382	-603	642	-48	506	825
NOPAT Margin	6.03%	4.62%	5.56%	6.23%	2.33%	-4.37%	3.85%	-0.31%	3.40%	5.47%
Net Nonoperating Expense Percent (NNEP)	2.74%	4.07%	5.77%	3.91%	1.01%	2.30%	59.02%	13.87%	0.56%	8.27%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-1.05%	11.00%	15.65%
Cost of Revenue to Revenue	63.79%	63.65%	61.74%	61.87%	62.56%	65.91%	60.19%	65.68%	61.21%	58.72%
SG&A Expenses to Revenue	26.56%	28.67%	28.93%	0.00%	33.93%	40.34%	0.00%	0.00%	35.03%	33.91%
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	26.56%	28.67%	28.93%	29.92%	33.93%	40.34%	34.96%	34.76%	35.03%	33.91%
Earnings before Interest and Taxes (EBIT)	1,524	1,191	1,479	1,362	574	-862	810	-69	560	1,112
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,051	1,722	1,978	1,881	1,133	-343	1,328	477	1,086	1,616
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.87	2.37	3.14	2.20	1.69	2.50	2.15	1.99	2.76	2.78
Price to Tangible Book Value (P/TBV)	2.87	2.37	3.14	2.20	1.69	2.50	2.15	1.99	2.76	2.78
Price to Revenue (P/Rev)	0.46	0.44	0.62	0.47	0.34	0.47	0.35	0.29	0.48	0.60
Price to Earnings (P/E)	7.95	10.20	11.66	7.79	15.96	0.00	22.87	0.00	14.25	10.76
Dividend Yield	5.06%	5.32%	3.62%	4.73%	6.46%	0.00%	3.84%	4.92%	3.11%	2.49%
Earnings Yield	12.58%	9.81%	8.58%	12.83%	6.26%	0.00%	4.37%	0.00%	7.02%	9.30%
Enterprise Value to Invested Capital (EV/IC)	2.19	2.16	2.80	1.95	1.27	2.36	1.83	1.65	2.67	3.16
Enterprise Value to Revenue (EV/Rev)	0.55	0.48	0.66	0.53	0.65	0.49	0.41	0.36	0.49	0.56
Enterprise Value to EBITDA (EV/EBITDA)	4.27	4.31	5.30	4.66	9.45	0.00	5.20	11.77	6.70	5.26
Enterprise Value to EBIT (EV/EBIT)	5.74	6.24	7.09	6.44	18.65	0.00	8.53	0.00	13.00	7.65
Enterprise Value to NOPAT (EV/NOPAT)	9.19	10.37	11.91	8.49	28.06	0.00	10.76	0.00	14.40	10.30
Enterprise Value to Operating Cash Flow (EV/OCF)	5.49	4.32	7.60	6.35	7.59	28.63	8.54	9.25	4.75	5.72
Enterprise Value to Free Cash Flow (EV/FCFF)	9.45	5.87	18.25	32.20	0.00	1.37	0.00	17.14	6.16	9.89
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.11	0.80	0.76	0.65	2.04	1.02	0.71	1.07	0.77	0.62
Long-Term Debt to Equity	0.94	0.78	0.76	0.65	2.04	1.02	0.71	1.07	0.77	0.62
Financial Leverage	0.44	0.36	0.19	0.23	0.88	0.90	0.25	0.45	0.27	-0.08
Leverage Ratio	2.74	2.77	2.58	2.39	3.16	4.63	4.97	4.87	4.65	3.91
Compound Leverage Factor	2.65	2.61	2.48	2.32	2.91	5.92	1.98	9.82	4.61	4.00
Debt to Total Capital	52.51%	44.39%	43.14%	39.53%	67.08%	50.38%	41.48%	51.59%	43.53%	38.14%
Short-Term Debt to Total Capital	7.86%	1.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	44.65%	43.14%	43.14%	39.53%	67.08%	50.38%	41.48%	51.59%	43.53%	38.14%
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	47.49%	55.61%	56.86%	60.47%	32.92%	49.62%	58.53%	48.41%	56.47%	61.87%
Debt to EBITDA	1.37	1.35	1.21	1.24	5.96	-7.74	1.45	4.99	1.84	1.25
Net Debt to EBITDA	0.70	0.31	0.30	0.51	4.50	-0.75	0.79	2.44	0.12	-0.36
Long-Term Debt to EBITDA	1.17	1.31	1.21	1.24	5.96	-7.74	1.45	4.99	1.84	1.25
Debt to NOPAT	2.95	3.24	2.71	2.25	17.71	-4.40	3.00	-49.28	3.96	2.44
Net Debt to NOPAT	1.52	0.75	0.68	0.92	13.37	-0.42	1.64	-24.12	0.25	-0.70
Long-Term Debt to NOPAT	2.51	3.15	2.71	2.25	17.71	-4.40	3.00	-49.28	3.96	2.44
Altman Z-Score	4.37	4.23	4.68	4.58	2.11	1.59	2.26	2.05	2.47	2.76
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	1.57	1.76	1.86	1.96	1.41	1.55	1.27	1.42	1.42	1.60
Quick Ratio	0.54	0.73	0.72	0.63	0.52	0.62	0.22	0.37	0.61	0.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	926	1,266	575	272	-3,531	4,946	-262	328	1,182	859
Operating Cash Flow to CapEx	219.56%	328.05%	188.78%	195.89%	171.03%	60.46%	116.57%	267.40%	445.35%	337.73%
Free Cash Flow to Firm to Interest Expense	15.70	16.88	7.77	3.73	-46.47	19.78	-0.53	3.72	13.13	9.88
Operating Cash Flow to Interest Expense	27.02	22.92	18.65	18.92	18.57	0.95	1.64	6.90	17.02	17.08
Operating Cash Flow Less CapEx to Interest Expense	14.71	15.93	8.77	9.26	7.71	-0.62	0.23	4.32	13.20	12.02
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.08	2.06	2.03	2.07	1.51	1.01	1.26	1.29	1.33	1.32
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	5.36	5.33	5.12	4.97	4.78	3.95	3.67	3.79	4.16	4.36
Fixed Asset Turnover	5.62	5.68	5.85	5.80	5.43	4.63	5.67	5.46	5.67	5.96
Accounts Payable Turnover	8.82	8.39	8.08	8.89	8.91	6.24	5.43	6.27	6.83	6.25
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)	68.13	68.43	71.35	73.44	76.33	92.44	99.48	96.21	87.79	83.68
Days Payable Outstanding (DPO)	41.38	43.52	45.19	41.04	40.95	58.53	67.19	58.20	53.44	58.44
Cash Conversion Cycle (CCC)	26.75	24.91	26.16	32.40	35.38	33.91	32.29	38.01	34.34	25.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,989	3,439	3,745	4,506	8,419	2,870	3,774	3,398	2,722	2,688
Invested Capital Turnover	3.97	4.18	4.41	4.02	2.54	2.44	5.02	4.35	4.87	5.58
Increase / (Decrease) in Invested Capital	27	-550	306	761	3,913	-5,549	904	-376	-676	-34
Enterprise Value (EV)	8,755	7,429	10,488	8,769	10,706	6,785	6,906	5,616	7,281	8,501
Market Capitalization	7,311	6,894	9,886	7,815	5,603	6,529	5,854	4,451	7,154	9,077
Book Value per Share	$6.33	$7.28	$8.09	$9.31	$8.88	$6.99	$7.29	$6.12	$7.00	$8.66
Tangible Book Value per Share	$6.33	$7.28	$8.09	$9.31	$8.88	$6.99	$7.29	$6.12	$7.00	$8.66
Total Capital	5,359	5,222	5,529	5,876	10,073	5,268	4,651	4,613	4,595	5,276
Total Debt	2,814	2,318	2,385	2,323	6,757	2,654	1,929	2,380	2,000	2,012
Total Long-Term Debt	2,393	2,253	2,385	2,323	6,757	2,654	1,929	2,380	2,000	2,012
Net Debt	1,444	535	602	954	5,103	256	1,052	1,165	127	-576
Capital Expenditures (CapEx)	726	524	731	705	825	392	694	227	344	440
Debt-free, Cash-free Net Working Capital (DFCFNWC)	501	144	324	708	-347	-274	211	146	-574	-641
Debt-free Net Working Capital (DFNWC)	1,871	1,927	2,107	2,077	1,307	2,124	1,088	1,361	1,299	1,947
Net Working Capital (NWC)	1,450	1,862	2,107	2,077	1,307	2,124	1,088	1,361	1,299	1,947
Net Nonoperating Expense (NNE)	33	40	33	30	31	62	386	154	3.61	-19
Net Nonoperating Obligations (NNO)	1,444	535	601	953	5,103	256	1,052	1,165	127	-576
Total Depreciation and Amortization (D&A)	527	531	499	519	559	519	518	546	526	504
Debt-free, Cash-free Net Working Capital to Revenue	3.17%	0.93%	2.04%	4.27%	-2.12%	-1.99%	1.27%	0.93%	-3.86%	-4.25%
Debt-free Net Working Capital to Revenue	11.84%	12.42%	13.29%	12.53%	7.98%	15.39%	6.53%	8.72%	8.72%	12.91%
Net Working Capital to Revenue	9.18%	12.00%	13.29%	12.53%	7.98%	15.39%	6.53%	8.72%	8.72%	12.91%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.24	$1.69	$2.16	$2.61	$0.93	($1.78)	$0.68	($0.55)	$1.36	$2.24
Adjusted Weighted Average Basic Shares Outstanding	411M	399M	393M	385M	376M	374M	376M	367M	370M	376M
Adjusted Diluted Earnings per Share	$2.23	$1.69	$2.14	$2.59	$0.93	($1.78)	$0.67	($0.55)	$1.34	$2.20
Adjusted Weighted Average Diluted Shares Outstanding	413M	400M	396M	388M	378M	374M	383M	367M	376M	384M
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	397.14M	399.84M	389.32M	378.60M	371.30M	749.70M	739.56M	732.42M	747.03M	374.90M
Normalized Net Operating Profit after Tax (NOPAT)	953	716	881	1,033	382	-603	642	-48	506	825
Normalized NOPAT Margin	6.03%	4.62%	5.56%	6.23%	2.33%	-4.37%	3.85%	-0.31%	3.40%	5.47%
Pre Tax Income Margin	9.31%	7.24%	8.98%	7.97%	3.22%	-7.99%	1.94%	-0.89%	3.73%	7.54%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	25.83	15.88	19.99	18.66	7.55	-3.45	1.65	-0.78	6.22	12.78
NOPAT to Interest Expense	16.16	9.55	11.90	14.16	5.02	-2.41	1.30	-0.55	5.62	9.49
EBIT Less CapEx to Interest Expense	13.53	8.89	10.11	9.00	-3.30	-5.02	0.24	-3.36	2.40	7.72
NOPAT Less CapEx to Interest Expense	3.85	2.56	2.02	4.50	-5.83	-3.98	-0.11	-3.13	1.80	4.43
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	40.98%	54.29%	42.57%	37.19%	103.70%	0.00%	88.28%	-108.91%	44.22%	26.66%
Augmented Payout Ratio	151.30%	54.29%	79.72%	76.87%	160.68%	0.00%	166.80%	-169.80%	44.22%	35.55%

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

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

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. See GAP's forecast for analyst expectations on what’s next for the company.

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%.

Related Companies

This page (NYSE:GAP) was last updated on 5/6/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

GAP (GAP) Financials

Frequently Asked Questions About GAP's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

GAP (GAP) Financials

Annual Income Statements for GAP

Quarterly Income Statements for GAP

Annual Cash Flow Statements for GAP

Quarterly Cash Flow Statements for GAP

Annual Balance Sheets for GAP

Quarterly Balance Sheets for GAP

Annual Metrics and Ratios for GAP

Quarterly Metrics and Ratios for GAP

Frequently Asked Questions About GAP's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools