GAP INC GAP
The Gap, Inc. (Gap Inc., the "Company," "we," and "our") is a house of iconic American brands offering apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands.
Gap Inc. is an omni-channel retailer, with sales to customers both in stores and online, through Company-operated and franchise stores, websites, and third-party arrangements. As of January 31, 2026, we had Company-operated stores in the United States, Canada, Japan, and Taiwan. We also have franchise agreements to operate Old Navy, Gap, Banana Republic, and Athleta throughout Asia, Europe, Latin America, the Middle East, and Africa. Under these agreements, third parties operate, or will operate, stores and websites that sell apparel and related products under our brand names. We also have licensing agreements with licensees to sell products using our brand names.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.37B | $15.09B | $14.89B | $15.62B | $16.67B | $13.80B | $16.38B | $16.58B | $15.86B | $15.52B |
| Cost of revenue | $9.10B | $8.86B | $9.11B | $10.26B | $10.03B | $9.10B | $10.25B | $10.26B | $9.79B | — |
| Gross profit | $6.27B | $6.23B | $5.78B | $5.36B | $6.64B | $4.71B | $6.13B | $6.32B | $6.07B | $5.64B |
| R&D | $60.0M | $40.0M | $37.0M | $46.0M | $41.0M | $46.0M | $41.0M | $50.0M | $51.0M | $46.0M |
| Total operating expenses | $5.15B | $5.12B | $5.21B | $5.43B | $5.83B | $5.57B | $5.56B | $4.96B | $4.59B | $4.45B |
| Operating income | $1.11B | $1.11B | $560.0M | -$69.0M | $810.0M | -$862.0M | $574.0M | $1.36B | $1.48B | $1.19B |
| Interest expense | $93.0M | $87.0M | $90.0M | $88.0M | $167.0M | $192.0M | $76.0M | $73.0M | $74.0M | $75.0M |
| Pre-tax income | $1.13B | $1.14B | $556.0M | -$139.0M | $323.0M | -$1.10B | $528.0M | $1.32B | $1.42B | $1.12B |
| Income tax | $316.0M | $293.0M | $54.0M | $63.0M | $67.0M | $437.0M | $177.0M | $319.0M | $576.0M | $448.0M |
| Net income | $816.0M | $844.0M | $502.0M | -$202.0M | $256.0M | -$665.0M | $351.0M | $1.00B | $848.0M | $676.0M |
| EPS, basic | 2.19 | 2.24 | 1.36 | -0.55 | 0.68 | -1.78 | 0.93 | 2.61 | 2.16 | 1.69 |
| EPS, diluted | 2.13 | 2.20 | 1.34 | -0.55 | 0.67 | -1.78 | 0.93 | 2.59 | 2.14 | 1.69 |
| Shares, diluted (wtd. avg.) | 384.0M | 384.0M | 376.0M | 367.0M | 383.0M | 374.0M | 378.0M | 388.0M | 396.0M | 400.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.62B | $2.33B | $1.87B | $1.27B | $902.0M | $2.02B | $1.38B | $1.42B | $1.80B | $1.80B |
| Short-term investments | $386.0M | $253.0M | $0 | — | $0 | $410.0M | $290.0M | $288.0M | $0 | — |
| Receivables | $316.0M | $301.0M | $289.0M | $340.0M | $399.0M | $363.0M | $316.0M | $321.0M | $282.0M | $335.0M |
| Total current assets | $5.78B | $5.20B | $4.39B | $4.62B | $5.17B | $6.01B | $4.52B | $4.25B | $4.57B | $4.32B |
| Property, plant and equipment | $2.51B | $2.50B | $2.57B | $2.69B | $3.04B | $2.84B | $3.12B | $2.91B | $2.81B | $2.62B |
| Goodwill | $207.0M | $207.0M | $207.0M | $207.0M | $207.0M | $109.0M | $109.0M | $109.0M | $109.0M | $109.0M |
| Other intangibles | $4.0M | $10.0M | $18.0M | $27.0M | $36.0M | $0 | — | — | — | — |
| Total assets | $12.63B | $11.88B | $11.04B | $11.39B | $12.76B | $13.77B | $13.68B | $8.05B | $7.99B | $7.61B |
| Accounts payable | $1.57B | $1.49B | $1.35B | $1.32B | $1.95B | $1.74B | $1.17B | $1.13B | $1.18B | $1.24B |
| Short-term debt | — | — | — | — | — | — | — | — | $0 | $65.0M |
| Total current liabilities | $3.30B | $3.26B | $3.10B | $3.26B | $4.08B | $3.88B | $3.21B | $2.17B | $2.46B | $2.45B |
| Long-term debt | $1.49B | $1.49B | $1.49B | $1.49B | $1.48B | $2.22B | $1.25B | $1.25B | $1.25B | $1.25B |
| Retained earnings | $3.61B | $3.04B | $2.42B | $2.14B | $2.62B | $2.50B | $3.26B | $3.48B | $3.08B | $2.75B |
| Total equity | $3.80B | $3.26B | $2.60B | $2.23B | $2.72B | $2.61B | $3.32B | $3.55B | $3.14B | $2.90B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.29B | $1.49B | $1.53B | $607.0M | $809.0M | $237.0M | $1.41B | $1.38B | $1.38B | $1.72B |
| Depreciation and amortisation | $490.0M | $492.0M | $513.0M | $531.0M | $502.0M | $505.0M | $554.0M | $575.0M | $556.0M | $590.0M |
| Stock-based compensation | $162.0M | $126.0M | $80.0M | $37.0M | $139.0M | $77.0M | $68.0M | $91.0M | $87.0M | $76.0M |
| Capital expenditure | $470.0M | $447.0M | $420.0M | $685.0M | $694.0M | $392.0M | $702.0M | $705.0M | $731.0M | $524.0M |
| Investing cash flow | -$600.0M | -$692.0M | -$334.0M | -$227.0M | -$446.0M | -$510.0M | -$894.0M | -$1.00B | -$666.0M | -$529.0M |
| Financing cash flow | -$419.0M | -$321.0M | -$567.0M | $6.0M | -$1.47B | $895.0M | -$560.0M | -$749.0M | -$731.0M | -$777.0M |
| Dividends paid | $247.0M | $225.0M | $222.0M | $220.0M | $226.0M | $0 | $364.0M | $373.0M | $361.0M | $367.0M |
| Buybacks | $155.0M | $75.0M | $0 | $123.0M | $201.0M | $0 | $200.0M | $398.0M | $315.0M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-018573.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.52B | $15.86B | $16.58B | $16.38B | $13.80B | $16.67B | $15.62B | $14.89B | $15.09B | $15.37B |
| Gross profit | $5.64B | $6.07B | $6.32B | $6.13B | $4.71B | $6.64B | $5.36B | $5.78B | $6.23B | $6.27B |
| Net income | $676.0M | $848.0M | $1.00B | $351.0M | -$665.0M | $256.0M | -$202.0M | $502.0M | $844.0M | $816.0M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Results announced Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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| DXLG | DESTINATION XL GROUP, INC. | $27.1M | — | -6.9% |