Gap Inc (GAP) Financial Statements
Industry: Family Clothing Stores (Retail)
In fiscal 2025, Gap reported revenue of $15.37B, up 1.9% from $15.09B the year before. Net income was $816.0M (a 5.3% net margin), or $2.13 per diluted share. Gross margin was 40.8% and operating margin was 7.3%. Operating activities generated $1.29B of cash, leaving $823.0M of free cash flow. At fiscal year end, Gap held $12.63B in total assets against $8.83B in total liabilities, including $2.62B of cash and equivalents.
Open the full interactive Gap financials → Quarterly statements, key ratios, valuation history and price charts.
Gap Key Stats
| Share Price | $22.83 |
|---|---|
| Market Cap | $8.26B |
| P/E Ratio | 10.7 |
| Dividend Yield | 3.01% |
| Revenue YoY Growth | +1.9% |
| 52-Week Range | $18.22 – $28.45 |
| Shares Outstanding | 355.0 million (basic, 2026 Q2) |
Gap Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $13.80B | $16.67B | $15.62B | $14.89B | $15.09B | $15.37B |
| Cost of Goods Sold | $9.10B | $10.03B | $10.26B | $9.11B | $8.86B | $9.10B |
| Gross Profit | $4.71B | $6.64B | $5.36B | $5.78B | $6.23B | $6.27B |
| Operating Income | -$862.0M | $810.0M | -$69.0M | $560.0M | $1.11B | $1.11B |
| Pre-Tax Income | -$1.10B | $323.0M | -$139.0M | $556.0M | $1.14B | $1.13B |
| Income Tax | -$437.0M | $67.0M | $63.0M | $54.0M | $293.0M | $316.0M |
| Net Income | -$665.0M | $256.0M | -$202.0M | $502.0M | $844.0M | $816.0M |
| Diluted EPS | -$1.78 | $0.67 | -$0.55 | $1.34 | $2.20 | $2.13 |
Gap Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $3.94B | $4.24B | $3.50B | $3.65B |
| Net Income | $236.0M | $171.0M | $339.0M | $501.0M |
| Diluted EPS | $0.62 | $0.45 | $0.90 | $1.38 |
Gap Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.99B | $877.0M | $1.22B | $1.87B | $2.33B | $2.62B |
| Current Assets | $6.01B | $5.17B | $4.62B | $4.39B | $5.20B | $5.78B |
| Total Assets | $13.77B | $12.76B | $11.39B | $11.04B | $11.88B | $12.63B |
| Current Liabilities | $3.88B | $4.08B | $3.26B | $3.10B | $3.26B | $3.30B |
| Total Long-Term Debt | $2.22B | $1.48B | $1.49B | $1.49B | $1.49B | $1.49B |
| Total Liabilities | $11.15B | $10.04B | $9.15B | $8.45B | $8.62B | $8.83B |
| Shareholders' Equity | $2.61B | $2.72B | $2.23B | $2.60B | $3.26B | $3.80B |
Gap Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $237.0M | $809.0M | $607.0M | $1.53B | $1.49B | $1.29B |
| Cash From Investing | -$510.0M | -$446.0M | -$227.0M | -$334.0M | -$692.0M | -$600.0M |
| Cash From Financing | $895.0M | -$1.47B | $6.0M | -$567.0M | -$321.0M | -$419.0M |
| Free Cash Flow | -$155.0M | $115.0M | -$78.0M | $1.11B | $1.04B | $823.0M |
| Dividends Paid | $0 | $226.0M | $220.0M | $222.0M | $225.0M | $247.0M |
Figures from Gap's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Gap financials page for every line item.
Gap Company Profile
| Ticker | GAP |
|---|---|
| Exchange | NYSE |
| Industry | Family Clothing Stores (Retail) |
| Headquarters | San Francisco, California |
| Incorporated in | Delaware |
| Fiscal Year End | February 1 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000039911 |
Frequently Asked Questions
What was Gap's revenue in fiscal 2025?
Gap (GAP) reported revenue of $15.37B for fiscal 2025.
What is Gap's annual revenue history?
Gap's annual revenue by fiscal year: 2020: $13.80B; 2021: $16.67B; 2022: $15.62B; 2023: $14.89B; 2024: $15.09B; 2025: $15.37B.
What was Gap's net income in fiscal 2025?
Gap reported net income of $816.0M for fiscal 2025.
What was Gap's earnings per share (EPS) in fiscal 2025?
Gap's diluted EPS was $2.13 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Gap generate in fiscal 2025?
Gap generated $823.0M of free cash flow in fiscal 2025.
What was Gap's revenue last quarter?
In its most recent reported quarter (2026 Q2), Gap reported revenue of $3.65B.
How much debt does Gap have?
Gap reported $1.49B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Gap are outstanding?
Gap reported a weighted average of 355.0 million basic shares outstanding in 2026 Q2.
What is Gap's market cap?
Based on its latest closing price, Gap (GAP) has a market capitalization of about $8.26B.
When does Gap's fiscal year end?
Gap's fiscal year end, as registered with the SEC, is February 1.
Where is Gap headquartered?
Gap lists its business address in San Francisco, California in its SEC filings.