What is Gap Inc's earnings per share (EPS)?

Gap Inc (GAP) reported diluted earnings per share of $2.13 for fiscal year 2026. This represents a -3.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Gap Inc Financials

GAP

Source SEC Filings (10-K/10-Q) Updated Jan 31, 2026 Currency USD FYE January

This page shows Gap Inc (GAP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Earnings Quality Cash-Backed

1.58x

For every $1 of reported earnings, Gap Inc generates $1.58 in operating cash flow ($1.3B OCF vs $816.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

12.0x

Gap Inc earns $12.0 in operating income for every $1 of interest expense ($1.1B vs $93.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$15.4B

YoY+1.9%

5Y CAGR+2.2%

10Y CAGR-0.3%

Gap Inc generated $15.4B in revenue in fiscal year 2026. This represents an increase of 1.9% from the prior year.

EBITDA

$1.6B

YoY-0.1%

10Y CAGR-2.7%

Gap Inc's EBITDA was $1.6B in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 0.1% from the prior year.

Net Income

$816.0M

YoY-3.3%

10Y CAGR-1.2%

Gap Inc reported $816.0M in net income in fiscal year 2026. This represents a decrease of 3.3% from the prior year.

EPS (Diluted)

$2.13

YoY-3.2%

10Y CAGR-0.5%

Gap Inc earned $2.13 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 3.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$823.0M

YoY-20.8%

10Y CAGR-0.5%

Gap Inc generated $823.0M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 20.8% from the prior year.

Cash & Debt

N/A

Dividends Per Share

$0.66

YoY+10.0%

5Y CAGR+22.2%

10Y CAGR-3.3%

Gap Inc paid $0.66 per share in dividends in fiscal year 2026. This represents an increase of 10.0% from the prior year.

Shares Outstanding

373M

YoY-0.6%

5Y CAGR-0.1%

10Y CAGR-0.6%

Gap Inc had 373M shares outstanding in fiscal year 2026. This represents a decrease of 0.6% from the prior year.

Margins & Returns

Gross Margin

40.8%

YoY-0.5pp

5Y CAGR+6.7pp

10Y CAGR+4.6pp

Gap Inc's gross margin was 40.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.

Operating Margin

7.3%

YoY-0.1pp

5Y CAGR+13.5pp

10Y CAGR-2.4pp

Gap Inc's operating margin was 7.3% in fiscal year 2026, reflecting core business profitability. This is down 0.1 percentage points from the prior year.

Net Margin

5.3%

YoY-0.3pp

5Y CAGR+10.1pp

10Y CAGR-0.5pp

Gap Inc's net profit margin was 5.3% in fiscal year 2026, showing the share of revenue converted to profit. This is down 0.3 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

$60.0M

YoY+50.0%

5Y CAGR+5.5%

Gap Inc invested $60.0M in research and development in fiscal year 2026. This represents an increase of 50.0% from the prior year.

Share Buybacks

$155.0M

YoY+106.7%

10Y CAGR-17.1%

Gap Inc spent $155.0M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 106.7% from the prior year.

Capital Expenditures

$470.0M

YoY+5.1%

5Y CAGR+3.7%

10Y CAGR-4.3%

Gap Inc invested $470.0M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 5.1% from the prior year.

GAP Income Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Revenue	$15.4B+1.9%	$15.1B+1.3%	$14.9B-4.7%	$15.6B-6.3%	$16.7B+20.8%	$13.8B
Cost of Revenue	$9.1B+2.7%	$8.9B-2.8%	$9.1B-11.1%	$10.3B+2.2%	$10.0B+10.3%	$9.1B
Gross Profit	$6.3B+0.7%	$6.2B+7.8%	$5.8B+7.8%	$5.4B-19.3%	$6.6B+41.1%	$4.7B
R&D Expenses	$60.0M+50.0%	$40.0M+8.1%	$37.0M-19.6%	$46.0M+12.2%	$41.0M-10.9%	$46.0M
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	$1.1B+0.3%	$1.1B+98.6%	$560.0M+911.6%	-$69.0M-108.5%	$810.0M+194.0%	-$862.0M
Interest Expense	$93.0M+6.9%	$87.0M-3.3%	$90.0M+2.3%	$88.0M-47.3%	$167.0M-13.0%	$192.0M
Income Tax	$316.0M+7.8%	$293.0M+442.6%	$54.0M-14.3%	$63.0M-6.0%	$67.0M+115.3%	-$437.0M
Net Income	$816.0M-3.3%	$844.0M+68.1%	$502.0M+348.5%	-$202.0M-178.9%	$256.0M+138.5%	-$665.0M
EPS (Diluted)	$2.13-3.2%	$2.20+64.2%	$1.34+343.6%	$-0.55-182.1%	$0.67+137.6%	$-1.78

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	$3.9B+5.8%	$3.7B+7.6%	$3.5B-15.0%	$4.1B+6.4%	$3.8B+2.9%	$3.7B+9.8%	$3.4B-19.1%	$4.2B
Cost of Revenue	$2.3B+3.8%	$2.2B+8.6%	$2.0B-19.8%	$2.5B+14.5%	$2.2B+2.7%	$2.1B+7.3%	$2.0B-26.2%	$2.7B
Gross Profit	$1.7B+8.7%	$1.5B+6.1%	$1.4B-7.2%	$1.6B-4.5%	$1.6B+3.3%	$1.6B+13.3%	$1.4B-6.2%	$1.5B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	$334.0M+14.4%	$292.0M+12.3%	$260.0M+27.5%	$204.0M-42.5%	$355.0M+21.2%	$293.0M+42.9%	$205.0M+20600.0%	-$1.0M
Interest Expense	$23.0M0.0%	$23.0M0.0%	$23.0M+35.3%	$17.0M-26.1%	$23.0M-4.2%	$24.0M+14.3%	$21.0M-19.2%	$26.0M
Income Tax	$101.0M+26.3%	$80.0M+14.3%	$70.0M+52.2%	$46.0M-47.1%	$87.0M-3.3%	$90.0M+80.0%	$50.0M+363.2%	-$19.0M
Net Income	$236.0M+9.3%	$216.0M+11.9%	$193.0M+12.9%	$171.0M-37.6%	$274.0M+33.0%	$206.0M+30.4%	$158.0M+1655.6%	$9.0M
EPS (Diluted)	$0.62+8.8%	$0.57+11.8%	$0.51	N/A	$0.72+33.3%	$0.54+31.7%	$0.41	N/A

GAP Balance Sheet

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Total Assets	N/A	$11.6B+6.0%	$10.9B-0.2%	$10.9B-10.8%	$12.3B-9.9%	$13.6B
Current Assets	N/A	$4.9B+16.4%	$4.2B-2.0%	$4.3B-14.4%	$5.0B-16.6%	$6.0B
Cash & Equivalents	N/A	$2.0B+29.0%	$1.5B+30.9%	$1.2B+38.5%	$845.0M-59.1%	$2.1B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	N/A	$8.2B+0.5%	$8.2B-6.2%	$8.7B-10.8%	$9.8B-9.2%	$10.8B
Current Liabilities	N/A	$2.9B+1.7%	$2.8B-3.8%	$2.9B-16.0%	$3.5B-4.6%	$3.6B
Long-Term Debt	N/A	$1.5B+0.1%	$1.5B+0.1%	$1.5B+0.1%	$1.5B-33.0%	$2.2B
Total Equity	N/A	$3.3B+22.7%	$2.7B+23.9%	$2.2B-11.0%	$2.5B-12.5%	$2.8B
Retained Earnings	N/A	$3.2B+25.7%	$2.5B+22.0%	$2.1B-13.5%	$2.4B-10.4%	$2.7B

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Total Assets	$12.4B+1.8%	$12.1B+5.0%	$11.6B-2.7%	$11.9B+0.3%	$11.9B+3.0%	$11.5B+5.5%	$10.9B-1.2%	$11.0B
Current Assets	$5.6B+4.9%	$5.4B+10.1%	$4.9B-6.1%	$5.2B+1.4%	$5.1B+6.7%	$4.8B+14.6%	$4.2B-4.5%	$4.4B
Cash & Equivalents	$2.3B+3.1%	$2.2B+11.0%	$2.0B-15.4%	$2.3B+18.6%	$2.0B+3.6%	$1.9B+24.0%	$1.5B-18.2%	$1.9B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	$301.0M	N/A	N/A	N/A	$289.0M
Goodwill	N/A	N/A	N/A	$207.0M	N/A	N/A	N/A	$207.0M
Total Liabilities	$8.7B+0.1%	$8.7B+5.7%	$8.2B-4.4%	$8.6B-1.1%	$8.7B+1.3%	$8.6B+5.0%	$8.2B-2.9%	$8.4B
Current Liabilities	$3.3B+2.6%	$3.2B+12.0%	$2.9B-12.3%	$3.3B-2.1%	$3.3B+3.1%	$3.2B+14.9%	$2.8B-9.4%	$3.1B
Long-Term Debt	$1.5B0.0%	$1.5B+0.1%	$1.5B0.0%	$1.5B+0.1%	$1.5B0.0%	$1.5B0.0%	$1.5B+0.1%	$1.5B
Total Equity	$3.6B+6.2%	$3.4B+3.4%	$3.3B+1.7%	$3.3B+4.1%	$3.1B+8.1%	$2.9B+7.2%	$2.7B+4.3%	$2.6B
Retained Earnings	$3.5B+5.2%	$3.3B+4.9%	$3.2B+4.3%	$3.0B+5.2%	$2.9B+8.1%	$2.7B+5.9%	$2.5B+4.2%	$2.4B

GAP Cash Flow Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	$1.3B-13.0%	$1.5B-3.0%	$1.5B+152.4%	$607.0M-25.0%	$809.0M+241.4%	$237.0M
Capital Expenditures	$470.0M+5.1%	$447.0M+6.4%	$420.0M-38.7%	$685.0M-1.3%	$694.0M+77.0%	$392.0M
Free Cash Flow	$823.0M-20.8%	$1.0B-6.6%	$1.1B+1525.6%	-$78.0M-167.8%	$115.0M+174.2%	-$155.0M
Investing Cash Flow	-$600.0M+13.3%	-$692.0M-107.2%	-$334.0M-47.1%	-$227.0M+49.1%	-$446.0M+12.5%	-$510.0M
Financing Cash Flow	-$419.0M-30.5%	-$321.0M+43.4%	-$567.0M-9550.0%	$6.0M+100.4%	-$1.5B-264.4%	$895.0M
Dividends Paid	$247.0M+9.8%	$225.0M+1.4%	$222.0M+0.9%	$220.0M-2.7%	$226.0M	$0
Share Buybacks	$155.0M+106.7%	$75.0M	$0-100.0%	$123.0M-38.8%	$201.0M	$0

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Operating Cash Flow	$299.0M-33.3%	$448.0M+420.0%	-$140.0M-122.7%	$616.0M+111.7%	$291.0M-47.0%	$549.0M+1730.0%	$30.0M-95.7%	$700.0M
Capital Expenditures	$146.0M+49.0%	$98.0M+18.1%	$83.0M-29.1%	$117.0M-20.9%	$148.0M+66.3%	$89.0M-4.3%	$93.0M-29.5%	$132.0M
Free Cash Flow	$153.0M-56.3%	$350.0M+257.0%	-$223.0M-144.7%	$499.0M+249.0%	$143.0M-68.9%	$460.0M+830.2%	-$63.0M-111.1%	$568.0M
Investing Cash Flow	-$163.0M-79.1%	-$91.0M-24.7%	-$73.0M+37.1%	-$116.0M+23.2%	-$151.0M-12.7%	-$134.0M+54.0%	-$291.0M-122.1%	-$131.0M
Financing Cash Flow	-$66.0M+52.5%	-$139.0M+9.2%	-$153.0M-19.5%	-$128.0M-85.5%	-$69.0M-46.8%	-$47.0M+39.0%	-$77.0M-51.0%	-$51.0M
Dividends Paid	$62.0M0.0%	$62.0M+1.6%	$61.0M+8.9%	$56.0M-1.8%	$57.0M+1.8%	$56.0M0.0%	$56.0M0.0%	$56.0M
Share Buybacks	$0-100.0%	$82.0M+17.1%	$70.0M-6.7%	$75.0M	$0	$0	$0	$0

GAP Financial Ratios

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Gross Margin	40.8%-0.5pp	41.3%+2.5pp	38.8%+4.5pp	34.3%-5.5pp	39.8%+5.7pp	34.1%
Operating Margin	7.3%-0.1pp	7.4%+3.6pp	3.8%+4.2pp	-0.4%-5.3pp	4.9%+11.1pp	-6.3%
Net Margin	5.3%-0.3pp	5.6%+2.2pp	3.4%+4.7pp	-1.3%-2.8pp	1.5%+6.4pp	-4.8%
Return on Equity	N/A	25.4%+6.9pp	18.5%+27.8pp	-9.2%-19.7pp	10.4%+34.1pp	-23.7%
Return on Assets	N/A	7.3%+2.7pp	4.6%+6.5pp	-1.8%-3.9pp	2.1%+7.0pp	-4.9%
Current Ratio	N/A	1.71+0.2	1.50+0.0	1.47+0.0	1.44-0.2	1.65
Debt-to-Equity	N/A	0.45-0.1	0.55-0.1	0.68+0.1	0.61-0.2	0.79
FCF Margin	5.4%-1.5pp	6.9%-0.6pp	7.5%+8.0pp	-0.5%-1.2pp	0.7%+1.8pp	-1.1%

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Gross Margin	42.4%+1.1pp	41.2%-0.6pp	41.8%+3.5pp	38.3%-4.4pp	42.7%+0.2pp	42.5%+1.3pp	41.2%+5.7pp	35.6%
Operating Margin	8.5%+0.6pp	7.8%+0.3pp	7.5%+2.5pp	5.0%-4.3pp	9.3%+1.4pp	7.9%+1.8pp	6.0%+6.1pp	-0.0%
Net Margin	6.0%+0.2pp	5.8%+0.2pp	5.6%+1.4pp	4.2%-3.0pp	7.2%+1.6pp	5.5%+0.9pp	4.7%+4.4pp	0.2%
Return on Equity	6.5%+0.2pp	6.3%+0.5pp	5.8%+0.6pp	5.2%-3.5pp	8.7%+1.6pp	7.1%+1.3pp	5.8%+5.5pp	0.4%
Return on Assets	1.9%+0.1pp	1.8%+0.1pp	1.7%+0.2pp	1.4%-0.9pp	2.3%+0.5pp	1.8%+0.3pp	1.5%+1.4pp	0.1%
Current Ratio	1.72+0.0	1.68-0.0	1.71+0.1	1.60+0.1	1.54+0.1	1.490.0	1.50+0.1	1.42
Debt-to-Equity	0.41-0.0	0.43-0.0	0.450.0	0.46-0.0	0.47-0.0	0.51-0.0	0.55-0.0	0.57
FCF Margin	3.9%-5.5pp	9.4%+15.8pp	-6.4%-18.7pp	12.3%+8.5pp	3.7%-8.6pp	12.4%+14.2pp	-1.9%-15.4pp	13.6%

Similar Companies

Urban Outfitter URBN

$5.7B

Boot Barn Hldgs Inc BOOT

$4.4B

Abercrombie & Fitch Co ANF

$4.2B

American Eagle Outfitters Inc AEO

$2.9B

Victorias Secret And Co VSCO

$3.8B

Frequently Asked Questions

What is Gap Inc's annual revenue?

Gap Inc (GAP) reported $15.4B in total revenue for fiscal year 2026. This represents a 1.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Gap Inc's revenue growing?

Gap Inc (GAP) revenue grew by 1.9% year-over-year, from $15.1B to $15.4B in fiscal year 2026.

Is Gap Inc profitable?

Yes, Gap Inc (GAP) reported a net income of $816.0M in fiscal year 2026, with a net profit margin of 5.3%.

What is Gap Inc's EBITDA?

Gap Inc (GAP) had EBITDA of $1.6B in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

What is Gap Inc's gross margin?

Gap Inc (GAP) had a gross margin of 40.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Gap Inc's operating margin?

Gap Inc (GAP) had an operating margin of 7.3% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Gap Inc's net profit margin?

Gap Inc (GAP) had a net profit margin of 5.3% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Does Gap Inc pay dividends?

Yes, Gap Inc (GAP) paid $0.66 per share in dividends during fiscal year 2026.

What is Gap Inc's free cash flow?

Gap Inc (GAP) generated $823.0M in free cash flow during fiscal year 2026. This represents a -20.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Gap Inc's operating cash flow?

Gap Inc (GAP) generated $1.3B in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Gap Inc's capital expenditures?

Gap Inc (GAP) invested $470.0M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does Gap Inc spend on research and development?

Gap Inc (GAP) invested $60.0M in research and development during fiscal year 2026.

Does Gap Inc buy back shares?

Yes, Gap Inc (GAP) spent $155.0M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

How many shares does Gap Inc have outstanding?

Gap Inc (GAP) had 373M shares outstanding as of fiscal year 2026.

Are Gap Inc's earnings high quality?

Gap Inc (GAP) has an earnings quality ratio of 1.58x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Gap Inc cover its interest payments?

Gap Inc (GAP) has an interest coverage ratio of 12.0x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.