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The Gap, Inc. (GAP) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

CONSUMER CYCLICAL · APPAREL RETAIL · DATA UPDATED 2026-09-19

The Gap, Inc. (GAP) operates in the APPAREL RETAIL industry and is headquartered in San Francisco, United States with about 79,000 employees. Its market capitalization is roughly $7 billion. In the fiscal year ended 2026-01-31, GAP reported $15.4B in revenue and $816M in net income.

The Gap, Inc. operates as an apparel retail company in the United States, Canada, Japan, Taiwan, and internationally. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands.

Interactive charts & full statements → Open the GAP valuation workbench →

GAP Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-07-31	2026-01-31	2025-01-31	2024-01-31	2023-01-31	2022-01-31	2021-01-31	2020-01-31	2019-01-31	2018-01-31	2017-01-31	2016-01-31	2015-01-31	2014-01-31	2013-01-31	2012-01-31	2011-01-31	2010-01-31	2009-01-31	2008-01-31	2007-01-31
Total Revenue	$15.3B	$15.4B	$15.1B	$14.9B	$15.6B	$16.7B	$13.8B	$16.4B	$16.6B	$15.9B	$15.5B	$15.8B	$16.4B	$16.1B	$15.7B	$14.5B	$14.7B	$14.2B	$14.5B	$15.8B	$15.9B
Gross Profit	$6.6B	$6.3B	$6.2B	$5.8B	$5.4B	$6.6B	$4.7B	$6.1B	$6.3B	$6.1B	$5.6B	$5.7B	$6.3B	$6.3B	$6.2B	$5.3B	$5.9B	$5.7B	$5.7B	$5.7B	$5.7B
Gross Margin %	43.3%	40.8%	41.3%	38.8%	34.3%	39.8%	34.1%	37.4%	38.1%	38.3%	36.4%	36.2%	38.3%	39.0%	39.4%	36.2%	40.2%	40.3%	39.4%	36.1%	35.5%
Operating Income (EBIT)	$1.7B	$1.1B	$1.1B	$560M	($69M)	$810M	($862M)	$574M	$1.4B	$1.5B	$1.2B	$1.5B	$2.1B	$2.1B	$1.9B	$1.4B	$2.0B	$1.8B	$1.8B	$1.3B	$1.2B
Operating Margin %	11.0%	7.3%	7.4%	3.8%	-0.4%	4.9%	-6.2%	3.5%	8.2%	9.3%	7.7%	9.7%	12.7%	13.3%	12.4%	9.9%	13.4%	12.8%	12.5%	8.3%	7.5%
Net Income	$1.2B	$816M	$844M	$502M	($202M)	$256M	($665M)	$351M	$1.0B	$848M	$676M	$920M	$1.3B	$1.3B	$1.1B	$833M	$1.2B	$1.1B	$1.1B	$833M	$778M
Net Margin %	8.1%	5.3%	5.6%	3.4%	-1.3%	1.5%	-4.8%	2.1%	6.0%	5.3%	4.4%	5.8%	7.7%	7.9%	7.2%	5.7%	8.2%	7.8%	7.6%	5.3%	4.9%
EBITDA	—	$1.7B	$1.7B	$1.2B	$489M	$994M	($403M)	$1.2B	$2.0B	$2.1B	$1.8B	$2.1B	$2.7B	$2.7B	$2.5B	$2.0B	$2.6B	$2.5B	$2.5B	$1.9B	$1.8B
Earnings Per Share (EPS)	$3.35	$2.12	$2.20	$1.34	$-0.55	$0.67	$-1.78	$0.93	$2.59	$2.14	$1.69	$2.23	$2.87	$2.74	$2.33	$1.56	$1.88	$1.58	$1.58	$1.05	$0.93
Shares Outstanding (M)	—	384M	384M	376M	367M	383M	374M	378M	388M	396M	400M	413M	440M	467M	488M	533M	641M	699M	699M	794M	836M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GAP Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-07-31	2026-04-30	2026-01-31	2025-10-31	2025-07-31	2025-04-30	2025-01-31	2024-10-31	2024-07-31
Total Revenue	$3.7B	$3.5B	$4.2B	$3.9B	$3.7B	$3.5B	$4.1B	$3.8B	$3.7B
Gross Profit	$1.9B	$1.4B	$1.6B	$1.7B	$1.5B	$1.4B	$1.6B	$1.6B	$1.6B
Gross Margin %	52.8%	40.5%	38.1%	42.4%	41.2%	41.8%	38.9%	42.7%	42.5%
Operating Income (EBIT)	$676M	$445M	$229M	$334M	$292M	$260M	$259M	$355M	$293M
Operating Margin %	18.5%	12.7%	5.4%	8.5%	7.8%	7.5%	6.2%	9.3%	7.9%
Net Income	$501M	$339M	$171M	$236M	$216M	$193M	$206M	$274M	$206M
Net Margin %	13.7%	9.7%	4.0%	6.0%	5.8%	5.6%	5.0%	7.2%	5.5%
EBITDA	—	$578M	$364M	$462M	$441M	$407M	$408M	$508M	$443M
Earnings Per Share (EPS)	$1.38	$0.90	$0.45	$0.62	$0.57	$0.51	$0.54	$0.72	$0.54
Shares Outstanding (M)	—	378M	384M	380M	379M	382M	384M	383M	383M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GAP Free Cash Flow History

Cash flow	TTM → 2026-07-31	2026-01-31	2025-01-31	2024-01-31	2023-01-31	2022-01-31	2021-01-31	2020-01-31	2019-01-31	2018-01-31	2017-01-31	2016-01-31	2015-01-31	2014-01-31	2013-01-31	2012-01-31	2011-01-31	2010-01-31	2009-01-31	2008-01-31	2007-01-31
Cash from Operations (CFO)	$1.8B	$1.3B	$1.5B	$1.5B	$607M	$809M	$237M	$1.4B	$1.4B	$1.4B	$1.7B	$1.6B	$2.1B	$1.7B	$1.9B	$1.4B	$1.7B	$1.9B	$1.9B	$2.1B	$1.2B
Capital Expenditures (CapEx)	$724M	$470M	$447M	$420M	$685M	$694M	$392M	$1.0B	$705M	$731M	$524M	$726M	$714M	$670M	$659M	$548M	$557M	$334M	$334M	$682M	$572M
Free Cash Flow (FCF)	$1.1B	$823M	$1.0B	$1.1B	($78M)	$115M	($155M)	$366M	$676M	$649M	$1.2B	$868M	$1.4B	$1.0B	$1.3B	$815M	$1.2B	$1.6B	$1.6B	$1.4B	$678M
FCF Margin %	7.2%	5.4%	6.9%	7.5%	-0.5%	0.7%	-1.1%	2.2%	4.1%	4.1%	7.7%	5.5%	8.6%	6.4%	8.2%	5.6%	8.1%	11.2%	11.0%	8.9%	4.2%
Dividends Paid	—	$247M	$225M	$222M	$220M	$226M	$0M	$364M	$373M	$361M	$367M	$377M	$383M	$321M	$240M	$236M	$252M	$234M	$243M	$252M	$265M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GAP Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-07-31	2026-04-30	2026-01-31	2025-10-31	2025-07-31	2025-04-30	2025-01-31	2024-10-31	2024-07-31
Cash from Operations (CFO)	$337M	$213M	$985M	$299M	$448M	($140M)	$616M	$291M	$549M
Capital Expenditures (CapEx)	$154M	$135M	$289M	$146M	$98M	$83M	$117M	$148M	$89M
Free Cash Flow (FCF)	$183M	$78M	$696M	$153M	$350M	($223M)	$499M	$143M	$460M
FCF Margin %	5.0%	2.2%	16.4%	3.9%	9.4%	-6.4%	12.0%	3.7%	12.4%
Dividends Paid	—	$63M	$62M	$62M	$62M	$61M	$56M	$57M	$56M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GAP Balance Sheet History

Balance sheet	2026-07-31	2026-01-31	2025-01-31	2024-01-31	2023-01-31	2022-01-31	2021-01-31	2020-01-31	2019-01-31	2018-01-31	2017-01-31	2016-01-31	2015-01-31	2014-01-31	2013-01-31	2012-01-31	2011-01-31	2010-01-31	2009-01-31	2008-01-31	2007-01-31
Total Assets	$12.9B	$12.6B	$11.9B	$11.0B	$11.4B	$12.8B	$13.8B	$13.7B	$8.0B	$8.0B	$7.6B	$7.5B	$7.7B	$7.8B	$7.5B	$7.4B	$7.1B	$8.0B	$7.6B	$7.8B	$8.5B
Cash & Cash Equivalents	$2.1B	$2.6B	$2.3B	$1.9B	$1.2B	$877M	$2.0B	$1.4B	$1.1B	$1.8B	$1.8B	$1.4B	$1.5B	$1.5B	$1.5B	$1.9B	$1.6B	$2.3B	$1.7B	$1.7B	$2.0B
Total Liabilities	$8.9B	$8.8B	$8.6B	$8.4B	$9.2B	$10.0B	$11.2B	$10.4B	$4.5B	$4.8B	$4.7B	$4.9B	$4.7B	$4.8B	$4.6B	$4.7B	$3.0B	$3.1B	$3.2B	$3.6B	$3.4B
Total Debt (Short + Long-Term)	—	$2.1B	$2.8B	$2.1B	$3.2B	$2.2B	$3.9B	$1.8B	$24M	$618M	$65M	$421M	$21M	$25M	$634M	$59M	$3M	$0M	$50M	$138M	$325M
Total Shareholders' Equity	$4.0B	$3.8B	$3.3B	$2.6B	$2.2B	$2.7B	$2.6B	$3.3B	$3.6B	$3.1B	$2.9B	$2.5B	$3.0B	$3.1B	$2.9B	$2.8B	$4.1B	$4.9B	$4.4B	$4.3B	$5.2B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive GAP viewer.

Other Companies in APPAREL RETAIL

BURL · Burlington Stores Inc — $15 billion
URBN · Urban Outfitters Inc — $6 billion
VSXY · Victoria's Secret & Co — $6 billion
ANF · Abercrombie & Fitch Company — $6 billion
BOOT · Boot Barn Holdings Inc — $4 billion
AEO · American Eagle Outfitters Inc — $3 billion
BKE · Buckle Inc — $2 billion
CRI · Carter’s Inc — $1 billion

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