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GAP (GAP) Financials

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$21.52 -0.04 (-0.16%)
Closing price 03:59 PM Eastern
Extended Trading
$21.41 -0.11 (-0.53%)
As of 07:59 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.
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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 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 5/2/2026
Net Income / (Loss) Attributable to Common Shareholders
218 185 158 206 274 206 193 216 236 171 339
Consolidated Net Income / (Loss)
218 185 158 206 274 206 193 216 236 171 339
Net Income / (Loss) Continuing Operations
218 185 158 206 274 206 193 216 236 171 339
Total Pre-Tax Income
250 218 208 296 361 272 263 296 337 236 450
Total Operating Income
250 214 205 293 355 259 260 292 334 229 445
Total Gross Profit
1,556 1,672 1,397 1,583 1,635 1,612 1,448 1,536 1,670 1,614 1,417
Total Revenue
3,767 4,298 3,388 3,720 3,829 4,149 3,463 3,725 3,942 4,236 3,497
Operating Revenue
3,767 4,298 3,388 3,720 3,829 4,149 3,463 3,725 3,942 4,236 3,497
Total Cost of Revenue
2,211 2,626 1,991 2,137 2,194 2,537 2,015 2,189 2,272 2,622 2,080
Operating Cost of Revenue
2,211 2,626 1,991 2,137 2,194 2,537 2,015 2,189 2,272 2,622 2,080
Total Operating Expenses
1,306 1,458 1,192 1,290 1,280 1,353 1,188 1,244 1,336 1,385 972
Selling, General & Admin Expense
1,306 - 1,192 1,290 1,280 1,353 1,188 - 1,336 - 972
Total Other Income / (Expense), net
0.00 4.00 3.00 3.00 6.00 13 3.00 4.00 3.00 7.00 5.00
Interest Expense
28 24 21 24 23 19 23 23 23 24 22
Interest & Investment Income
28 28 24 27 29 32 26 27 26 31 27
Income Tax Expense
32 33 50 90 87 66 70 80 101 65 111
Basic Earnings per Share
$0.59 $0.50 $0.42 $0.55 $0.73 $0.54 $0.51 $0.58 $0.63 $0.47 $0.92
Weighted Average Basic Shares Outstanding
371M 370M 374M 376M 377M 376M 375M 373M 372M 373M 367M
Diluted Earnings per Share
$0.58 $0.49 $0.41 $0.54 $0.72 $0.53 $0.51 $0.57 $0.62 $0.43 $0.90
Weighted Average Diluted Shares Outstanding
375M 376M 383M 383M 383M 384M 382M 379M 380M 384M 378M
Weighted Average Basic & Diluted Shares Outstanding
370.83M 747.03M 375.07M 376.32M 377.12M 374.90M 373.07M 371.05M 371.92M 372.56M 359.98M
Cash Dividends to Common per Share
$0.15 - $0.15 $0.15 $0.15 - $0.17 $0.17 $0.17 - $0.18

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 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 5/2/2026
Net Change in Cash & Equivalents
1.00 522 -340 368 69 367 -361 218 68 354 -455
Net Cash From Operating Activities
304 700 30 549 291 616 -140 448 299 686 213
Net Cash From Continuing Operating Activities
304 700 30 549 291 616 -140 448 299 686 213
Net Income / (Loss) Continuing Operations
218 185 158 206 274 206 193 216 236 171 339
Consolidated Net Income / (Loss)
218 185 158 206 274 206 193 216 236 171 339
Depreciation Expense
127 128 124 123 124 129 121 122 125 128 128
Non-Cash Adjustments To Reconcile Net Income
2.00 37 25 32 41 20 36 31 39 49 42
Changes in Operating Assets and Liabilities, net
-43 346 -277 188 -148 257 -490 79 -101 338 -296
Net Cash From Investing Activities
-91 -131 -291 -134 -151 -116 -73 -91 -163 -273 -149
Net Cash From Continuing Investing Activities
-91 -131 -291 -134 -151 -116 -73 -91 -163 -273 -149
Purchase of Property, Plant & Equipment
-89 -132 -93 -89 -148 -117 -83 -98 -146 -143 -135
Acquisitions
- - 0.00 - - - 0.00 - - - 0.00
Purchase of Investments
- - -201 -75 -67 -66 -78 -67 -68 -206 -112
Sale of Property, Plant & Equipment
- - 0.00 - - 7.00 0.00 - - - 0.00
Divestitures
-2.00 - 0.00 - - - 0.00 - - - 0.00
Sale and/or Maturity of Investments
- - 3.00 30 64 65 88 74 51 76 98
Other Investing Activities, net
- 1.00 0.00 - - -5.00 0.00 - - - 0.00
Net Cash From Financing Activities
-207 -51 -77 -47 -69 -128 -153 -139 -66 -61 -519
Net Cash From Continuing Financing Activities
-207 -51 -77 -47 -69 -128 -153 -139 -66 -61 -519
Repayment of Debt
-152 - 0.00 - -3.00 - 0.00 - - - 0.00
Repurchase of Common Equity
- - 0.00 - - -75 -70 -82 - -3.00 -401
Payment of Dividends
-55 -56 -56 -56 -57 -56 -61 -62 -62 -62 -63
Issuance of Debt
- - 0.00 - - - 0.00 - - - 0.00
Issuance of Common Equity
5.00 9.00 10 11 6.00 5.00 6.00 6.00 6.00 7.00 7.00
Other Financing Activities, net
-5.00 -4.00 -31 -2.00 -15 -2.00 -28 -1.00 -10 -3.00 -62
Other Net Changes in Cash
-5.00 4.00 -2.00 - -2.00 -5.00 5.00 - -2.00 2.00 0.00
Cash Interest Paid
32 2.00 31 - 30 2.00 31 1.00 29 2.00 30
Cash Income Taxes Paid
19 50 39 58 76 64 11 131 31 62 33

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
Other Equity Adjustments
- - - - - - - - - - 0.00

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 Q1 2026
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 5/2/2026
Total Assets
12,000 10,932 10,850 11,052 10,908 11,509 11,853 11,565 12,146 12,370 12,137
Total Current Assets
5,038 4,283 4,239 4,374 4,197 4,809 5,130 4,884 5,377 5,640 5,239
Cash & Equivalents
679 1,170 1,350 1,351 1,532 1,900 1,969 1,976 2,194 2,262 2,162
Short-Term Investments
0.00 0.00 0.00 0.00 199 246 250 244 238 255 399
Inventories, net
3,043 2,299 2,226 2,377 1,952 2,107 2,331 2,097 2,294 2,459 2,095
Other Current Assets
1,316 814 663 646 514 556 580 567 651 664 583
Plant, Property, & Equipment, net
2,788 2,646 2,595 2,552 2,528 2,525 2,546 2,470 2,478 2,517 2,535
Total Noncurrent Assets
4,174 4,003 4,016 4,126 4,183 4,175 4,177 4,211 4,291 4,213 4,363
Other Noncurrent Operating Assets
4,174 4,003 4,016 4,126 4,183 4,175 4,177 4,211 4,291 4,213 4,363
Total Liabilities & Shareholders' Equity
12,000 10,932 10,850 11,052 10,908 11,509 11,853 11,565 12,146 12,370 12,137
Total Liabilities
9,429 8,747 8,587 8,592 8,201 8,608 8,718 8,244 8,713 8,723 8,482
Total Current Liabilities
3,381 2,918 3,007 3,139 2,806 3,224 3,325 2,854 3,197 3,279 2,901
Accounts Payable
1,388 1,199 1,406 1,433 1,196 1,522 1,523 1,292 1,656 1,545 1,298
Accrued Expenses
1,245 1,051 1,007 1,078 942 1,029 1,135 841 881 1,067 883
Current Deferred & Payable Income Tax Liabilities
57 10 16 24 44 60 50 88 29 38 89
Other Current Liabilities
691 658 578 604 624 613 617 633 631 629 631
Total Noncurrent Liabilities
6,048 5,829 5,580 5,453 5,395 5,384 5,393 5,390 5,516 5,444 5,581
Long-Term Debt
1,836 1,837 1,637 1,488 1,489 1,489 1,489 1,490 1,491 1,491 1,492
Capital Lease Obligations
539 539 510 509 519 538 544 537 555 557 570
Other Noncurrent Operating Liabilities
3,673 3,453 3,433 3,456 3,387 3,357 3,360 3,363 3,470 3,396 3,519
Total Equity & Noncontrolling Interests
2,571 2,185 2,263 2,460 2,707 2,901 3,135 3,321 3,433 3,647 3,655
Total Preferred & Common Equity
2,571 2,185 2,263 2,460 2,707 2,901 3,135 3,321 3,433 3,647 3,655
Total Common Equity
2,571 2,185 2,263 2,460 2,707 2,901 3,135 3,321 3,433 3,647 3,655
Common Stock
34 65 91 111 138 178 196 110 67 100 18
Retained Earnings
2,468 2,067 2,128 2,291 2,522 2,672 2,889 3,171 3,325 3,499 3,602
Accumulated Other Comprehensive Income / (Loss)
69 53 44 58 47 51 50 40 41 48 35
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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 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 5/2/2026
DEI Shares Outstanding
- - - - - - - - - 371,921,740.00 372,562,512.00
DEI Adjusted Shares Outstanding
- - - - - - - - - 371,921,740.00 372,562,512.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - - - 0.46 0.91
Growth Metrics
- - - - - - - - - - -
Revenue Growth
-6.73% 1.30% 3.42% 4.85% 1.65% -3.47% 2.21% 0.13% 2.95% - 0.98%
EBITDA Growth
15.29% 213.76% 159.06% 76.27% 27.06% 13.45% 15.81% -0.48% -4.18% - 50.39%
EBIT Growth
34.41% 813.33% 2,150.00% 176.42% 42.00% 21.03% 26.83% -0.34% -5.92% - 71.15%
NOPAT Growth
-30.18% 964.79% 2,324.59% 77.57% 23.60% 8.01% 22.53% 4.50% -13.19% - 75.70%
Net Income Growth
-22.70% 167.77% 977.78% 76.07% 25.69% 11.35% 22.15% 4.85% -13.87% - 75.65%
EPS Growth
-24.68% 165.33% 920.00% 68.75% 24.14% 8.16% 24.39% 5.56% -13.89% - 76.47%
Operating Cash Flow Growth
220.00% -2.64% 100.00% 7.02% -4.28% -12.00% -566.67% -18.40% 2.75% - 252.14%
Free Cash Flow Firm Growth
682.38% 141.58% -9.38% -53.96% -69.08% -73.16% -91.68% -110.77% -98.85% - 556.50%
Invested Capital Growth
-27.21% -19.89% -12.00% -9.09% -5.05% -1.25% 4.83% 9.53% 7.77% - 0.90%
Revenue Q/Q Growth
6.17% 14.10% -21.17% 9.80% 2.93% 8.36% -16.53% 7.57% 5.83% - -17.45%
EBITDA Q/Q Growth
59.75% -9.28% -4.08% 26.44% 15.14% -19.00% -1.80% 8.66% 10.87% - 60.50%
EBIT Q/Q Growth
135.85% -14.40% -4.21% 42.93% 21.16% -27.04% 0.39% 12.31% 14.38% - 94.32%
NOPAT Q/Q Growth
89.84% -16.69% -14.25% 30.95% 32.14% -27.20% -2.73% 11.68% 9.77% - 102.04%
Net Income Q/Q Growth
86.32% -15.14% -14.59% 30.38% 33.01% -24.82% -6.31% 11.92% 9.26% - 98.25%
EPS Q/Q Growth
81.25% -15.52% -16.33% 31.71% 33.33% -26.39% -3.77% 11.76% 8.77% - 109.30%
Operating Cash Flow Q/Q Growth
-40.74% 130.26% -95.71% 1,730.00% -46.99% 111.68% -122.73% 420.00% -33.26% - -68.95%
Free Cash Flow Firm Q/Q Growth
31.73% -37.81% -34.38% -14.36% -11.51% -46.03% -79.67% -210.94% 109.44% - 3,341.25%
Invested Capital Q/Q Growth
1.50% -12.36% 9.63% -6.77% 6.00% -8.85% 16.37% -2.59% 4.30% - 10.93%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
41.31% 38.90% 41.23% 42.55% 42.70% 38.85% 41.81% 41.23% 42.36% - 40.52%
EBITDA Margin
10.01% 7.96% 9.71% 11.18% 12.51% 9.35% 11.00% 11.11% 11.64% - 16.39%
Operating Margin
6.64% 4.98% 6.05% 7.88% 9.27% 6.24% 7.51% 7.84% 8.47% - 12.73%
EBIT Margin
6.64% 4.98% 6.05% 7.88% 9.27% 6.24% 7.51% 7.84% 8.47% - 12.73%
Profit (Net Income) Margin
5.79% 4.30% 4.66% 5.54% 7.16% 4.97% 5.57% 5.80% 5.99% - 9.69%
Tax Burden Percent
87.20% 84.86% 75.96% 69.59% 75.90% 75.74% 73.38% 72.97% 70.03% - 75.33%
Interest Burden Percent
100.00% 101.87% 101.46% 101.02% 101.69% 105.02% 101.15% 101.37% 100.90% - 101.12%
Effective Tax Rate
12.80% 15.14% 24.04% 30.41% 24.10% 24.26% 26.62% 27.03% 29.97% - 24.67%
Return on Invested Capital (ROIC)
23.29% 20.56% 21.63% 28.47% 35.41% 26.37% 27.33% 29.77% 29.59% - 46.99%
ROIC Less NNEP Spread (ROIC-NNEP)
23.29% 21.08% 21.94% 29.09% 37.39% 21.98% 32.58% 28.61% 28.95% - 45.90%
Return on Net Nonoperating Assets (RNNOA)
10.84% 5.64% 6.65% 3.82% 3.07% -1.68% 0.45% -2.28% -2.80% - -4.55%
Return on Equity (ROE)
34.13% 26.20% 28.28% 32.29% 38.49% 24.68% 27.79% 27.49% 26.80% - 42.43%
Cash Return on Invested Capital (CROIC)
32.77% 38.61% 33.80% 35.51% 31.97% 31.77% 23.45% 20.74% 19.76% - 29.29%
Operating Return on Assets (OROA)
8.54% 6.61% 8.31% 10.69% 12.33% 8.21% 10.13% 10.05% 10.69% - 16.54%
Return on Assets (ROA)
7.45% 5.71% 6.41% 7.52% 9.52% 6.53% 7.52% 7.44% 7.55% - 12.60%
Return on Common Equity (ROCE)
34.13% 26.20% 28.28% 32.29% 38.49% 24.68% 27.79% 27.49% 26.80% - 42.43%
Return on Equity Simple (ROE_SIMPLE)
1.79% 0.00% 25.05% 26.44% 26.25% 0.00% 26.47% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)
218 182 156 204 269 196 191 213 234 166 335
NOPAT Margin
5.79% 4.23% 4.60% 5.48% 7.04% 4.73% 5.51% 5.72% 5.93% - 9.59%
Net Nonoperating Expense Percent (NNEP)
0.00% -0.53% -0.31% -0.62% -1.98% 4.39% -5.24% 1.16% 0.64% - 1.09%
Return On Investment Capital (ROIC_SIMPLE)
- 3.95% - - - 3.72% 3.57% 3.89% 4.11% 2.84% 5.86%
Cost of Revenue to Revenue
58.69% 61.10% 58.77% 57.45% 57.30% 61.15% 58.19% 58.77% 57.64% - 59.48%
SG&A Expenses to Revenue
34.67% 0.00% 35.18% 34.68% 33.43% 32.61% 34.31% 0.00% 33.89% - 27.80%
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
34.67% 33.92% 35.18% 34.68% 33.43% 32.61% 34.31% 33.40% 33.89% - 27.80%
Earnings before Interest and Taxes (EBIT)
250 214 205 293 355 259 260 292 334 229 445
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
377 342 329 416 479 388 381 414 459 357 573
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
1.87 2.76 2.96 2.81 2.49 2.78 2.60 2.05 2.32 - 2.52
Price to Tangible Book Value (P/TBV)
1.87 2.76 2.96 2.81 2.49 2.78 2.60 2.05 2.32 - 2.52
Price to Revenue (P/Rev)
0.31 0.48 0.53 0.54 0.51 0.60 0.57 0.46 0.55 - 0.60
Price to Earnings (P/E)
104.45 14.25 11.82 10.61 9.48 10.76 9.81 7.91 9.96 - 9.56
Dividend Yield
4.83% 3.11% 2.80% 2.77% 2.89% 2.49% 2.68% 3.34% 2.82% - 2.71%
Earnings Yield
0.96% 7.02% 8.46% 9.42% 10.54% 9.30% 10.20% 12.65% 10.04% - 10.46%
Enterprise Value to Invested Capital (EV/IC)
1.69 2.67 2.78 2.88 2.58 3.16 2.69 2.18 2.52 - 2.76
Enterprise Value to Revenue (EV/Rev)
0.35 0.49 0.55 0.53 0.50 0.56 0.56 0.44 0.52 - 0.56
Enterprise Value to EBITDA (EV/EBITDA)
6.18 6.70 6.44 5.48 4.87 5.26 5.06 4.00 4.88 - 4.82
Enterprise Value to EBIT (EV/EBIT)
16.59 13.00 10.70 8.34 7.14 7.65 7.22 5.70 7.00 - 6.69
Enterprise Value to NOPAT (EV/NOPAT)
111.22 14.40 12.37 10.56 9.40 10.30 9.79 7.64 9.60 - 9.17
Enterprise Value to Operating Cash Flow (EV/OCF)
3.38 4.75 5.36 5.07 4.85 5.72 6.40 5.47 6.55 - 5.28
Enterprise Value to Free Cash Flow (EV/FCFF)
4.34 6.16 7.70 7.73 7.87 9.89 11.76 10.99 13.23 - 9.45
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.81 0.77 0.74 0.70 0.65 0.62 0.61 0.60 0.56 - 0.56
Long-Term Debt to Equity
0.81 0.77 0.74 0.70 0.65 0.62 0.61 0.60 0.56 - 0.56
Financial Leverage
0.47 0.27 0.30 0.13 0.08 -0.08 0.01 -0.08 -0.10 - -0.10
Leverage Ratio
4.58 4.65 4.46 4.33 4.09 3.91 3.73 3.73 3.57 - 3.40
Compound Leverage Factor
4.58 4.73 4.53 4.37 4.16 4.11 3.77 3.79 3.60 - 3.44
Debt to Total Capital
44.81% 43.53% 42.59% 41.13% 39.34% 38.14% 37.90% 37.34% 35.96% - 36.07%
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
44.81% 43.53% 42.59% 41.13% 39.34% 38.14% 37.90% 37.34% 35.96% - 36.07%
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
55.19% 56.47% 57.41% 58.87% 60.66% 61.87% 62.10% 62.66% 64.04% - 63.93%
Debt to EBITDA
2.36 1.84 1.56 1.38 1.30 1.25 1.22 1.23 1.25 - 1.14
Net Debt to EBITDA
0.76 0.12 0.22 -0.08 -0.12 -0.36 -0.12 -0.23 -0.29 - -0.28
Long-Term Debt to EBITDA
2.36 1.84 1.56 1.38 1.30 1.25 1.22 1.23 1.25 - 1.14
Debt to NOPAT
42.37 3.96 3.00 2.67 2.51 2.44 2.36 2.35 2.45 - 2.17
Net Debt to NOPAT
13.71 0.25 0.41 -0.16 -0.23 -0.70 -0.22 -0.44 -0.56 - -0.53
Long-Term Debt to NOPAT
42.37 3.96 3.00 2.67 2.51 2.44 2.36 2.35 2.45 - 2.17
Altman Z-Score
2.16 2.37 2.50 2.46 2.45 2.53 2.61 2.41 2.53 - 2.69
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
1.39 1.42 1.50 1.49 1.54 1.60 1.71 1.68 1.72 - 1.81
Quick Ratio
0.43 0.61 0.62 0.67 0.67 0.79 0.78 0.76 0.77 - 0.88
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
1,379 858 563 482 426 230 47 -52 4.90 8.93 307
Operating Cash Flow to CapEx
341.57% 530.30% 32.26% 616.85% 196.62% 560.00% -168.67% 457.14% 204.79% - 157.78%
Free Cash Flow to Firm to Interest Expense
49.25 35.73 26.80 20.08 18.54 12.11 2.03 -2.26 0.21 - 13.97
Operating Cash Flow to Interest Expense
10.86 29.17 1.43 22.88 12.65 32.42 -6.09 19.48 13.00 - 9.68
Operating Cash Flow Less CapEx to Interest Expense
7.68 23.67 -3.00 19.17 6.22 26.63 -9.70 15.22 6.65 - 3.55
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
1.29 1.33 1.37 1.36 1.33 1.32 1.35 1.28 1.26 - 1.30
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
3.43 4.16 4.25 4.14 3.80 4.36 4.39 4.06 3.76 - 4.37
Fixed Asset Turnover
5.56 5.67 5.80 5.93 5.98 5.96 6.07 6.06 6.04 - 6.15
Accounts Payable Turnover
6.60 6.83 7.55 6.12 6.05 6.25 7.14 5.62 5.88 - 7.08
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)
106.28 87.79 85.79 88.21 96.02 83.68 83.19 89.89 96.99 - 83.49
Days Payable Outstanding (DPO)
55.32 53.44 48.33 59.61 60.29 58.44 51.12 64.91 62.12 - 51.59
Cash Conversion Cycle (CCC)
50.96 34.34 37.46 28.60 35.73 25.24 32.07 24.98 34.87 - 31.91
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
3,106 2,722 2,984 2,782 2,949 2,688 3,128 3,047 3,178 2,845 3,156
Invested Capital Turnover
4.02 4.87 4.71 5.19 5.03 5.58 4.96 5.20 4.99 - 4.90
Increase / (Decrease) in Invested Capital
-1,161 -676 -407 -278 -157 -34 144 265 229 157 28
Enterprise Value (EV)
5,242 7,281 8,289 8,020 7,619 8,501 8,426 6,643 8,009 - 8,696
Market Capitalization
4,596 7,154 8,012 8,139 7,805 9,077 8,619 7,029 8,478 - 9,195
Book Value per Share
$6.65 $7.00 $7.25 $7.73 $8.33 $8.66 $8.86 $9.20 $9.83 $10.22 $9.81
Tangible Book Value per Share
$6.65 $7.00 $7.25 $7.73 $8.33 $8.66 $8.86 $9.20 $9.83 $10.22 $9.81
Total Capital
4,457 4,595 4,715 4,928 5,168 5,276 5,348 5,479 5,695 5,847 5,717
Total Debt
1,997 2,000 2,008 2,027 2,033 2,012 2,027 2,046 2,048 2,046 2,062
Total Long-Term Debt
1,997 2,000 2,008 2,027 2,033 2,012 2,027 2,046 2,048 2,046 2,062
Net Debt
646 127 277 -119 -186 -576 -193 -386 -469 -956 -499
Capital Expenditures (CapEx)
89 132 93 89 148 110 83 98 146 143 135
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-116 -574 -340 -561 -414 -641 -190 -252 -156 -525 -223
Debt-free Net Working Capital (DFNWC)
1,235 1,299 1,391 1,585 1,805 1,947 2,030 2,180 2,361 2,477 2,338
Net Working Capital (NWC)
1,235 1,299 1,391 1,585 1,805 1,947 2,030 2,180 2,361 2,477 2,338
Net Nonoperating Expense (NNE)
0.00 -3.39 -2.28 -2.09 -4.55 -9.85 -2.20 -2.92 -2.10 -5.07 -3.77
Net Nonoperating Obligations (NNO)
646 127 277 -119 -186 -576 -193 -386 -469 -956 -499
Total Depreciation and Amortization (D&A)
127 128 124 123 124 129 121 122 125 128 128
Debt-free, Cash-free Net Working Capital to Revenue
-0.78% -3.86% -2.27% -3.70% -2.72% -4.25% -1.25% -1.66% -1.02% - -1.45%
Debt-free Net Working Capital to Revenue
8.33% 8.72% 9.27% 10.45% 11.85% 12.91% 13.39% 14.37% 15.45% - 15.18%
Net Working Capital to Revenue
8.33% 8.72% 9.27% 10.45% 11.85% 12.91% 13.39% 14.37% 15.45% - 15.18%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.59 $0.50 $0.42 $0.55 $0.73 $0.54 $0.51 $0.58 $0.63 $0.47 $0.92
Adjusted Weighted Average Basic Shares Outstanding
371M 370M 374M 376M 377M 376M 375M 373M 372M 373M 367M
Adjusted Diluted Earnings per Share
$0.58 $0.49 $0.41 $0.54 $0.72 $0.53 $0.51 $0.57 $0.62 $0.43 $0.90
Adjusted Weighted Average Diluted Shares Outstanding
375M 376M 383M 383M 383M 384M 382M 379M 380M 384M 378M
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
370.83M 747.03M 375.07M 376.32M 377.12M 374.90M 373.07M 371.05M 371.92M 372.56M 359.98M
Normalized Net Operating Profit after Tax (NOPAT)
218 182 156 204 269 196 191 213 234 166 335
Normalized NOPAT Margin
5.79% 4.23% 4.60% 5.48% 7.04% 4.73% 5.51% 5.72% 5.93% - 9.59%
Pre Tax Income Margin
6.64% 5.07% 6.14% 7.96% 9.43% 6.56% 7.59% 7.95% 8.55% - 12.87%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
8.93 8.92 9.76 12.21 15.43 13.63 11.30 12.70 14.52 - 20.23
NOPAT to Interest Expense
7.79 7.57 7.42 8.50 11.72 10.32 8.30 9.26 10.17 - 15.24
EBIT Less CapEx to Interest Expense
5.75 3.42 5.33 8.50 9.00 7.84 7.70 8.43 8.17 - 14.09
NOPAT Less CapEx to Interest Expense
4.61 2.07 2.99 4.79 5.28 4.53 4.69 5.00 3.82 - 9.10
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
500.00% 44.22% 32.89% 29.07% 27.34% 26.66% 26.17% 26.55% 28.32% - 25.88%
Augmented Payout Ratio
500.00% 44.22% 32.89% 29.07% 27.34% 35.55% 42.66% 52.08% 54.99% - 76.40%

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.

06/05/26 08:32 PM ETAI Generated. May Contain Errors.

GAP Financials - Frequently Asked Questions

According to the most recent income statement we have on file, GAP's financial year ends in January. Their financial 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. View GAP's forecast to see where analysts expect GAP to go next.

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%.



Financial statements for NYSE:GAP last updated on 6/1/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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