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GAP (GAP) Financials

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$21.08 -0.15 (-0.71%)
Closing price 05/15/2026 03:59 PM Eastern
Extended Trading
$21.00 -0.08 (-0.37%)
As of 05/15/2026 08:00 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for GAP

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 2025
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 1/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 920 676 848 1,003 351 -665 256 -202 502 844 816
Consolidated Net Income / (Loss)		 920 676 848 1,003 351 -665 256 -202 502 844 816
Net Income / (Loss) Continuing Operations		 920 676 848 1,003 351 -665 256 -202 502 844 816
Total Pre-Tax Income 		1,471 1,124 1,424 1,322 528 -1,102 323 -139 556 1,137 1,132
Total Operating Income		 1,524 1,191 1,479 1,362 574 -862 810 -69 560 1,112 1,115
Total Gross Profit		 5,720 5,640 6,066 6,322 6,133 4,705 6,637 5,359 5,775 6,227 6,268
Total Revenue		 15,797 15,516 15,855 16,580 16,383 13,800 16,670 15,616 14,889 15,086 15,366
Operating Revenue		 15,797 15,516 15,855 16,580 16,383 13,800 16,670 15,616 14,889 15,086 15,366
Total Cost of Revenue		 10,077 9,876 9,789 10,258 10,250 9,095 10,033 10,257 9,114 8,859 9,098
Operating Cost of Revenue		 10,077 9,876 9,789 10,258 10,250 9,095 10,033 10,257 9,114 8,859 9,098
Total Operating Expenses		 4,196 4,449 4,587 4,960 5,559 5,567 5,827 5,428 5,215 5,115 5,153
Selling, General & Admin Expense		 4,196 4,449 4,587 - 5,559 5,567 - - - 5,115 5,153
Total Other Income / (Expense), net		 -53 -67 -55 -40 -46 -240 -487 -70 -4.00 25 17
Interest Expense		 59 75 74 73 76 250 492 88 90 87 93
Interest & Investment Income		 6.00 8.00 19 33 30 10 5.00 18 86 112 110
Income Tax Expense		 551 448 576 319 177 -437 67 63 54 293 316
Basic Earnings per Share		 $2.24 $1.69 $2.16 $2.61 $0.93 ($1.78) $0.68 ($0.55) $1.36 $2.24 $2.19
Weighted Average Basic Shares Outstanding		 411M 399M 393M 385M 376M 374M 376M 367M 370M 376M 373M
Diluted Earnings per Share		 $2.23 $1.69 $2.14 $2.59 $0.93 ($1.78) $0.67 ($0.55) $1.34 $2.20 $2.13
Weighted Average Diluted Shares Outstanding		 413M 400M 396M 388M 378M 374M 383M 367M 376M 384M 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 372.56M
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 $0.66

Quarterly Income Statements for GAP

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 7/29/2023 10/28/2023 2/3/2024 5/4/2024 8/3/2024 11/2/2024 2/1/2025 5/3/2025 8/2/2025 11/1/2025 1/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 117 218 185 158 206 274 206 193 216 236 171
Consolidated Net Income / (Loss)		 117 218 185 158 206 274 206 193 216 236 171
Net Income / (Loss) Continuing Operations		 117 218 185 158 206 274 206 193 216 236 171
Total Pre-Tax Income 		108 250 218 208 296 361 272 263 296 337 236
Total Operating Income		 106 250 214 205 293 355 259 260 292 334 229
Total Gross Profit		 1,333 1,556 1,672 1,397 1,583 1,635 1,612 1,448 1,536 1,670 1,614
Total Revenue		 3,548 3,767 4,298 3,388 3,720 3,829 4,149 3,463 3,725 3,942 4,236
Operating Revenue		 3,548 3,767 4,298 3,388 3,720 3,829 4,149 3,463 3,725 3,942 4,236
Total Cost of Revenue		 2,215 2,211 2,626 1,991 2,137 2,194 2,537 2,015 2,189 2,272 2,622
Operating Cost of Revenue		 2,215 2,211 2,626 1,991 2,137 2,194 2,537 2,015 2,189 2,272 2,622
Total Operating Expenses		 1,227 1,306 1,458 1,192 1,290 1,280 1,353 1,188 1,244 1,336 1,385
Total Other Income / (Expense), net		 2.00 0.00 4.00 3.00 3.00 6.00 13 3.00 4.00 3.00 7.00
Interest Expense		 15 28 24 21 24 23 19 23 23 23 24
Interest & Investment Income		 17 28 28 24 27 29 32 26 27 26 31
Income Tax Expense		 -9.00 32 33 50 90 87 66 70 80 101 65
Basic Earnings per Share		 $0.32 $0.59 $0.50 $0.42 $0.55 $0.73 $0.54 $0.51 $0.58 $0.63 $0.47
Weighted Average Basic Shares Outstanding		 369M 371M 370M 374M 376M 377M 376M 375M 373M 372M 373M
Diluted Earnings per Share		 $0.32 $0.58 $0.49 $0.41 $0.54 $0.72 $0.53 $0.51 $0.57 $0.62 $0.43
Weighted Average Diluted Shares Outstanding		 371M 375M 376M 383M 383M 383M 384M 382M 379M 380M 384M
Weighted Average Basic & Diluted Shares Outstanding		 369.88M 370.83M 747.03M 375.07M 376.32M 377.12M 374.90M 373.07M 371.05M 371.92M 372.56M

Annual Cash Flow Statements for GAP

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 2025
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 1/31/2026
Net Change in Cash & Equivalents		 -145 413 -20 -379 -179 635 -1,114 371 628 464 279
Net Cash From Operating Activities		 1,594 1,719 1,380 1,381 1,411 237 809 607 1,532 1,486 1,293
Net Cash From Continuing Operating Activities		 1,594 1,719 1,358 1,373 1,271 237 809 607 1,532 1,486 1,293
Net Income / (Loss) Continuing Operations		 920 676 848 1,003 351 -665 256 -202 502 844 816
Consolidated Net Income / (Loss)		 920 676 848 1,003 351 -665 256 -202 502 844 816
Depreciation Expense		 592 593 559 578 557 507 504 540 522 500 496
Amortization Expense		 -65 -62 -60 -59 2.00 12 14 6.00 0.00 0.00 0.00
Non-Cash Adjustments To Reconcile Net Income		 2.00 245 134 97 191 692 502 66 72 122 163
Changes in Operating Assets and Liabilities, net		 145 267 -101 -238 310 -309 -467 197 436 20 -182
Net Cash From Investing Activities		 -730 -529 -666 -1,001 -894 -510 -446 -227 -334 -692 -600
Net Cash From Continuing Investing Activities		 -730 -529 -666 -1,001 -894 -510 -446 -227 -334 -692 -600
Purchase of Property, Plant & Equipment		 -726 -524 -731 -705 -1,045 -392 -694 -685 -420 -447 -470
Acquisitions		 - - 0.00 0.00 -69 0.00 -135 0.00 0.00 0.00 0.00
Purchase of Investments		 - 0.00 0.00 -464 -293 -508 -753 0.00 0.00 -409 -419
Sale of Property, Plant & Equipment		 - - 0.00 0.00 220 0.00 0.00 458 76 7.00 0.00
Divestitures		 - - - - - 0.00 -21 0.00 9.00 0.00 0.00
Sale and/or Maturity of Investments		 - 0.00 0.00 177 293 388 1,162 0.00 0.00 162 289
Other Investing Activities, net		 -4.00 -5.00 65 -9.00 0.00 2.00 -5.00 0.00 1.00 -5.00 0.00
Net Cash From Financing Activities		 -990 -777 -731 -749 -560 895 -1,471 6.00 -567 -321 -419
Net Cash From Continuing Financing Activities		 -990 -777 -731 -749 -560 895 -1,471 6.00 -567 -321 -419
Repayment of Debt		 -22 -421 -67 -1.00 0.00 -1,868 -2,562 -8.00 -352 -3.00 0.00
Repurchase of Common Equity		 -1,015 0.00 -315 -398 -200 0.00 -201 -123 0.00 -75 -155
Payment of Dividends		 -377 -367 -361 -373 -364 0.00 -226 -220 -222 -225 -247
Issuance of Debt		 400 - - 0.00 0.00 2,750 1,500 350 0.00 0.00 0.00
Issuance of Common Equity		 65 29 30 46 25 22 54 27 27 32 25
Other Financing Activities, net		 -41 -18 -18 -23 -21 -9.00 -36 -20 -20 -50 -42
Other Net Changes in Cash		 - - 19 -10 4.00 13 -6.00 -15 -3.00 -9.00 5.00
Cash Interest Paid		 78 82 76 76 76 145 180 76 74 63 63
Cash Income Taxes Paid		 452 488 570 143 176 20 215 -388 49 237 235

Quarterly Cash Flow Statements for GAP

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 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 7/29/2023 10/28/2023 2/3/2024 5/4/2024 8/3/2024 11/2/2024 2/1/2025 5/3/2025 8/2/2025 11/1/2025 1/31/2026
Net Change in Cash & Equivalents		 180 1.00 522 -340 368 69 367 -361 218 68 354
Net Cash From Operating Activities		 513 304 700 30 549 291 616 -140 448 299 686
Net Cash From Continuing Operating Activities		 513 304 700 30 549 291 616 -140 448 299 686
Net Income / (Loss) Continuing Operations		 117 218 185 158 206 274 206 193 216 236 171
Consolidated Net Income / (Loss)		 117 218 185 158 206 274 206 193 216 236 171
Depreciation Expense		 130 127 128 124 123 124 129 121 122 125 128
Non-Cash Adjustments To Reconcile Net Income		 25 2.00 37 25 32 41 20 44 31 39 49
Changes in Operating Assets and Liabilities, net		 241 -43 346 -277 188 -148 257 -498 79 -101 338
Net Cash From Investing Activities		 -82 -91 -131 -291 -134 -151 -116 -73 -91 -163 -273
Net Cash From Continuing Investing Activities		 -82 -91 -131 -291 -134 -151 -116 -73 -91 -163 -273
Purchase of Property, Plant & Equipment		 -82 -89 -132 -93 -89 -148 -117 -83 -98 -146 -143
Purchase of Investments		 - - - -201 -75 -67 -66 -78 -67 -68 -206
Sale and/or Maturity of Investments		 - - - 3.00 30 64 65 88 74 51 76
Net Cash From Financing Activities		 -251 -207 -51 -77 -47 -69 -128 -153 -139 -66 -61
Net Cash From Continuing Financing Activities		 -251 -207 -51 -77 -47 -69 -128 -153 -139 -66 -61
Repurchase of Common Equity		 - - - 0.00 - - -75 -70 -82 - -3.00
Payment of Dividends		 -56 -55 -56 -56 -56 -57 -56 -61 -62 -62 -62
Issuance of Common Equity		 6.00 5.00 9.00 10 11 6.00 5.00 6.00 6.00 6.00 7.00
Other Financing Activities, net		 -1.00 -5.00 -4.00 -31 -2.00 -15 -2.00 -28 -1.00 -10 -3.00
Other Net Changes in Cash		 - -5.00 4.00 -2.00 - -2.00 -5.00 5.00 - -2.00 2.00
Cash Interest Paid		 5.00 32 2.00 31 - 30 2.00 31 1.00 29 2.00
Cash Income Taxes Paid		 -66 19 50 39 58 76 64 11 131 31 62

Annual Balance Sheets for GAP

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 2025
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 1/31/2026
Total Assets		 7,473 7,610 7,989 8,049 13,679 13,769 12,761 11,386 11,044 11,885 12,632
Total Current Assets		 3,985 4,315 4,568 4,251 4,516 6,008 5,165 4,617 4,395 5,203 5,777
Cash & Equivalents		 1,370 1,783 1,783 1,081 1,364 1,988 877 1,215 1,873 2,335 2,616
Short-Term Investments		 - - 0.00 288 290 410 0.00 0.00 0.00 253 386
Inventories, net		 1,873 1,830 1,997 2,131 2,156 2,451 3,018 2,389 1,995 2,067 2,207
Other Current Assets		 742 702 788 751 706 1,159 1,270 1,013 527 548 568
Plant, Property, & Equipment, net		 2,850 2,616 2,805 2,912 3,122 2,841 3,037 2,688 2,566 2,496 2,507
Total Noncurrent Assets		 638 679 616 886 6,041 4,920 4,559 4,081 4,083 4,186 4,348
Other Noncurrent Operating Assets		 638 679 616 886 6,041 4,920 4,559 4,081 4,083 4,186 4,348
Total Liabilities & Shareholders' Equity		 7,473 7,610 7,989 8,049 13,679 13,769 12,761 11,386 11,044 11,885 12,632
Total Liabilities		 4,928 4,706 4,846 4,497 10,363 11,155 10,039 9,153 8,449 8,621 8,831
Total Current Liabilities		 2,535 2,453 2,461 2,174 3,209 3,884 4,077 3,256 3,096 3,256 3,300
Accounts Payable		 1,112 1,243 1,181 1,126 1,174 1,743 1,951 1,320 1,349 1,488 1,567
Accrued Expenses		 979 1,113 1,270 1,024 1,067 1,276 1,367 1,219 1,108 1,083 1,044
Current Deferred & Payable Income Tax Liabilities		 23 32 10 24 48 34 25 50 39 53 55
Other Current Liabilities		 - - - 0.00 920 831 734 667 600 632 634
Total Noncurrent Liabilities		 2,393 2,253 2,385 2,323 7,154 7,271 5,962 5,897 5,353 5,365 5,531
Long-Term Debt		 1,310 1,248 1,250 1,250 1,249 2,216 1,484 1,836 1,488 1,490 1,492
Capital Lease Obligations		 1,083 1,005 1,135 1,073 5,508 438 445 544 512 522 554
Other Noncurrent Operating Liabilities		 - - - 0.00 397 4,617 4,033 3,517 3,353 3,353 3,485
Total Equity & Noncontrolling Interests		 2,545 2,904 3,144 3,553 3,316 2,614 2,722 2,233 2,595 3,264 3,801
Total Preferred & Common Equity		 2,545 2,904 3,144 3,553 3,316 2,614 2,722 2,233 2,595 3,264 3,801
Total Common Equity		 2,545 2,904 3,144 3,553 3,316 2,614 2,722 2,233 2,595 3,264 3,801
Common Stock		 20 101 27 19 19 104 62 45 132 165 155
Retained Earnings		 2,440 2,749 3,081 3,481 3,257 2,501 2,622 2,140 2,420 3,039 3,608
Accumulated Other Comprehensive Income / (Loss)		 85 54 36 53 40 9.00 38 48 43 60 38

Quarterly Balance Sheets for GAP

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 Q1 2025 Q2 2025 Q3 2025
Period end date 10/29/2022 4/29/2023 7/29/2023 10/28/2023 5/4/2024 8/3/2024 11/2/2024 5/3/2025 8/2/2025 11/1/2025
Total Assets		 12,000 10,932 10,850 11,052 10,908 11,509 11,853 11,565 12,146 12,370
Total Current Assets		 5,038 4,283 4,239 4,374 4,197 4,809 5,130 4,884 5,377 5,640
Cash & Equivalents		 679 1,170 1,350 1,351 1,532 1,900 1,969 1,976 2,194 2,262
Short-Term Investments		 0.00 0.00 0.00 0.00 199 246 250 244 238 255
Inventories, net		 3,043 2,299 2,226 2,377 1,952 2,107 2,331 2,097 2,294 2,459
Other Current Assets		 1,316 814 663 646 514 556 580 567 651 664
Plant, Property, & Equipment, net		 2,788 2,646 2,595 2,552 2,528 2,525 2,546 2,470 2,478 2,517
Total Noncurrent Assets		 4,174 4,003 4,016 4,126 4,183 4,175 4,177 4,211 4,291 4,213
Other Noncurrent Operating Assets		 4,174 4,003 4,016 4,126 4,183 4,175 4,177 4,211 4,291 4,213
Total Liabilities & Shareholders' Equity		 12,000 10,932 10,850 11,052 10,908 11,509 11,853 11,565 12,146 12,370
Total Liabilities		 9,429 8,747 8,587 8,592 8,201 8,608 8,718 8,244 8,713 8,723
Total Current Liabilities		 3,381 2,918 3,007 3,139 2,806 3,224 3,325 2,854 3,197 3,279
Accounts Payable		 1,388 1,199 1,406 1,433 1,196 1,522 1,523 1,292 1,656 1,545
Accrued Expenses		 1,245 1,051 1,007 1,078 942 1,029 1,135 841 881 1,067
Current Deferred & Payable Income Tax Liabilities		 57 10 16 24 44 60 50 88 29 38
Other Current Liabilities		 691 658 578 604 624 613 617 633 631 629
Total Noncurrent Liabilities		 6,048 5,829 5,580 5,453 5,395 5,384 5,393 5,390 5,516 5,444
Long-Term Debt		 1,836 1,837 1,637 1,488 1,489 1,489 1,489 1,490 1,491 1,491
Capital Lease Obligations		 539 539 510 509 519 538 544 537 555 557
Other Noncurrent Operating Liabilities		 3,673 3,453 3,433 3,456 3,387 3,357 3,360 3,363 3,470 3,396
Total Equity & Noncontrolling Interests		 2,571 2,185 2,263 2,460 2,707 2,901 3,135 3,321 3,433 3,647
Total Preferred & Common Equity		 2,571 2,185 2,263 2,460 2,707 2,901 3,135 3,321 3,433 3,647
Total Common Equity		 2,571 2,185 2,263 2,460 2,707 2,901 3,135 3,321 3,433 3,647
Common Stock		 34 65 91 111 138 178 196 110 67 100
Retained Earnings		 2,468 2,067 2,128 2,291 2,522 2,672 2,889 3,171 3,325 3,499
Accumulated Other Comprehensive Income / (Loss)		 69 53 44 58 47 51 50 40 41 48
Other Equity Adjustments		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Annual Metrics And Ratios for GAP

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 2025
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 1/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 371,921,740.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 371,921,740.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 2.19
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 953 716 881 1,033 382 -603 642 -48 506 825 804
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -1.05% 11.00% 15.65% 13.75%
Earnings before Interest and Taxes (EBIT)		 1,524 1,191 1,479 1,362 574 -862 810 -69 560 1,112 1,115
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 1,611
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 926 1,266 575 272 -3,531 4,946 -262 328 1,182 859 647
Efficiency Ratios		 - - - - - - - - - - -
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 2,845
Increase / (Decrease) in Invested Capital		 27 -550 306 761 3,913 -5,549 904 -376 -676 -34 157
Book Value per Share		 $6.33 $7.28 $8.09 $9.31 $8.88 $6.99 $7.29 $6.12 $7.00 $8.66 $10.22
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 $10.22
Total Capital		 5,359 5,222 5,529 5,876 10,073 5,268 4,651 4,613 4,595 5,276 5,847
Total Debt		 2,814 2,318 2,385 2,323 6,757 2,654 1,929 2,380 2,000 2,012 2,046
Total Long-Term Debt		 2,393 2,253 2,385 2,323 6,757 2,654 1,929 2,380 2,000 2,012 2,046
Net Debt		 1,444 535 602 954 5,103 256 1,052 1,165 127 -576 -956
Capital Expenditures (CapEx)		 726 524 731 705 825 392 694 227 344 440 470
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 501 144 324 708 -347 -274 211 146 -574 -641 -525
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 2,477
Net Working Capital (NWC)		 1,450 1,862 2,107 2,077 1,307 2,124 1,088 1,361 1,299 1,947 2,477
Net Nonoperating Expense (NNE)		 33 40 33 30 31 62 386 154 3.61 -19 -12
Net Nonoperating Obligations (NNO)		 1,444 535 601 953 5,103 256 1,052 1,165 127 -576 -956
Total Depreciation and Amortization (D&A)		 527 531 499 519 559 519 518 546 526 504 496
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 $2.19
Adjusted Weighted Average Basic Shares Outstanding		 411M 399M 393M 385M 376M 374M 376M 367M 370M 376M 373M
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 $2.13
Adjusted Weighted Average Diluted Shares Outstanding		 413M 400M 396M 388M 378M 374M 383M 367M 376M 384M 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 $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 372.56M
Normalized Net Operating Profit after Tax (NOPAT)		 953 716 881 1,033 382 -603 642 -48 506 825 804
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for GAP

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 7/29/2023 10/28/2023 2/3/2024 5/4/2024 8/3/2024 11/2/2024 2/1/2025 5/3/2025 8/2/2025 11/1/2025 1/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 371,921,740.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 371,921,740.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.46
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 115 218 182 156 204 269 196 191 213 234 166
Return On Investment Capital (ROIC_SIMPLE)		 - - 3.95% - - - 3.72% 3.57% 3.89% 4.11% 2.84%
Earnings before Interest and Taxes (EBIT)		 106 250 214 205 293 355 259 260 292 334 229
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 236 377 342 329 416 479 388 381 414 459 357
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 1,047 1,379 858 563 482 426 230 47 -52 4.90 8.93
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,060 3,106 2,722 2,984 2,782 2,949 2,688 3,128 3,047 3,178 2,845
Increase / (Decrease) in Invested Capital		 -932 -1,161 -676 -407 -278 -157 -34 144 265 229 157
Book Value per Share		 $6.15 $6.65 $7.00 $7.25 $7.73 $8.33 $8.66 $8.86 $9.20 $9.83 $10.22
Tangible Book Value per Share		 $6.15 $6.65 $7.00 $7.25 $7.73 $8.33 $8.66 $8.86 $9.20 $9.83 $10.22
Total Capital		 4,410 4,457 4,595 4,715 4,928 5,168 5,276 5,348 5,479 5,695 5,847
Total Debt		 2,147 1,997 2,000 2,008 2,027 2,033 2,012 2,027 2,046 2,048 2,046
Total Long-Term Debt		 2,147 1,997 2,000 2,008 2,027 2,033 2,012 2,027 2,046 2,048 2,046
Net Debt		 797 646 127 277 -119 -186 -576 -193 -386 -469 -956
Capital Expenditures (CapEx)		 82 89 132 93 89 148 110 83 98 146 143
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -118 -116 -574 -340 -561 -414 -641 -190 -252 -156 -525
Debt-free Net Working Capital (DFNWC)		 1,232 1,235 1,299 1,391 1,585 1,805 1,947 2,030 2,180 2,361 2,477
Net Working Capital (NWC)		 1,232 1,235 1,299 1,391 1,585 1,805 1,947 2,030 2,180 2,361 2,477
Net Nonoperating Expense (NNE)		 -2.17 0.00 -3.39 -2.28 -2.09 -4.55 -9.85 -2.20 -2.92 -2.10 -5.07
Net Nonoperating Obligations (NNO)		 797 646 127 277 -119 -186 -576 -193 -386 -469 -956
Total Depreciation and Amortization (D&A)		 130 127 128 124 123 124 129 121 122 125 128
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.32 $0.59 $0.50 $0.42 $0.55 $0.73 $0.54 $0.51 $0.58 $0.63 $0.47
Adjusted Weighted Average Basic Shares Outstanding		 369M 371M 370M 374M 376M 377M 376M 375M 373M 372M 373M
Adjusted Diluted Earnings per Share		 $0.32 $0.58 $0.49 $0.41 $0.54 $0.72 $0.53 $0.51 $0.57 $0.62 $0.43
Adjusted Weighted Average Diluted Shares Outstanding		 371M 375M 376M 383M 383M 383M 384M 382M 379M 380M 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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 369.88M 370.83M 747.03M 375.07M 376.32M 377.12M 374.90M 373.07M 371.05M 371.92M 372.56M
Normalized Net Operating Profit after Tax (NOPAT)		 74 218 182 156 204 269 196 191 213 234 166
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Financials Breakdown Chart

Key Financial Trends

Overview: Based on GAP's quarterly data across 2022–2025, here are the most notable trends for retail investors.

  • Operating cash flow turned positive in the latest quarter, with net cash from continuing operating activities of $686,000,000 in Q4 2025, up from $616,000,000 in Q4 2024.
  • Cash and cash equivalents rose through 2025, with roughly $2.26B on hand in Q3 2025, signaling improved liquidity versus prior years.
  • Revenue remained near the $4.2B level in recent periods, including Q4 2025 operating revenue of $4.236B and a modest year-over-year uptick vs Q4 2024 ($4.149B).
  • Gross margin has stayed in the mid-to-high 30s range (about 38–39%), indicating stable cost discipline even as revenue fluctuates.
  • Balance sheet shows solid scale with total assets around $12.3B–$12.4B in 2025 and total equity near $3.3B–$3.6B, plus long-term debt around $1.49B—levels that have remained relatively steady over the period.
  • Net income for the latest quarter was $171M, down from $206M in Q4 2024, and diluted earnings per share declined to $0.43 from $0.53.
  • Inventories rose to about $2.46B in Q3 2025 while revenue stayed roughly $4.2B, suggesting potential working capital pressure and longer inventory days.
  • Financing cash flows remained a drag, with net cash from financing activities negative in 2025 due to dividends and occasional share repurchases, impacting overall cash balance evolution.

Bottom line: GAP has shown stabilizing operating cash flow and a healthier balance sheet in 2025, but earnings and working capital dynamics face pressure from rising inventories and ongoing financing outflows. Investors may want to watch how GAP manages inventories and whether future share repurchases or dividends align with cash generation growth.

05/16/26 04:34 PM ETAI Generated. May Contain Errors.

GAP Financials - Frequently Asked Questions

According to the most recent income statement we have on file, GAP's fiscal year ends in January. Their fiscal year 2026 ended on January 31, 2026.

GAP's net income appears to be on a downward trend, with a most recent value of $816 million in 2025, falling from $920 million in 2015. The previous period was $844 million in 2024. See where experts think GAP is headed by visiting GAP's forecast page.

GAP's total operating income in 2025 was $1.12 billion, based on the following breakdown:
  • Total Gross Profit: $6.27 billion
  • Total Operating Expenses: $5.15 billion

Over the last 10 years, GAP's total revenue changed from $15.80 billion in 2015 to $15.37 billion in 2025, a change of -2.7%.

GAP's total liabilities were at $8.83 billion at the end of 2025, a 2.4% increase from 2024, and a 79.2% increase since 2015.

In the past 10 years, GAP's cash and equivalents has ranged from $877 million in 2021 to $2.62 billion in 2025, and is currently $2.62 billion as of their latest financial filing in 2025.

Over the last 10 years, GAP's book value per share changed from 6.33 in 2015 to 10.22 in 2025, a change of 61.4%.


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Financial statements for NYSE:GAP last updated on 3/18/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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