GAP INC

Listed Company

GAPCIK 0000039911NYSELarge AcceleratedRetail-Family Clothing StoresDelawareFY ends Feb 1

Period

FY 2026

Revenue

$15.37B

Net Income

$816.00M

Total Assets

$12.63B

Equity

$3.80B

Shares Out

372.56M

Op. Cash Flow

$1.29B

Business

GAP INC is a house of iconic brands that designs, markets, and sells apparel, accessories, and personal care products for men, women, and children. It offers private-label and branded apparel collections, accessories, and personal care items, plus omni-channel retail services, loyalty programs, and credit-card partnerships. The company operates through distinct brand divisions—Old Navy, Gap, Banana Republic, and Athleta—each managing merchandising, marketing, and retail operations. Gap Inc. distributes products through Company-operated and franchise stores, brand websites, third-party partners, and omni-channel fulfillment across North America, Asia, Europe, Latin America, the Middle East, and Africa.

Summary from filing dated 2025-03-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Net sales	15,366	15,086	14,889	15,616	16,670
Cost of goods sold and occupancy expenses	9,098	8,859	9,114	10,257	10,033
Gross profit	6,268	6,227	5,775	5,359	6,637
Operating expenses	5,153	5,115	5,215	5,428	5,827
Operating income	1,115	1,112	560	−69	810
Interest expense	93	87	90	88	167
Interest income	−110	−112	−86	−18	−5
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	1,132	1,137	556	−139	323
Income tax expense	316	293	54	63	67
Net income	816	844	502	−202	256
Weighted-average number of sharesbasic	373	376	370	367	376
Weighted-average number of sharesdiluted	384	384	376	367	383
Earnings per sharebasic	2.19	2.24	1.36	−0.55	0.68
Earnings per sharediluted	2.13	2.2	1.34	−0.55	0.67

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Cash and cash equivalents	2,616	2,335	1,873	1,215	877
Short-term investments	386	253	0	—	0
Merchandise inventory	2,207	2,067	1,995	2,389	3,018
Other current assets	568	548	527	1,013	1,270
Total current assets	5,777	5,203	4,395	4,617	5,165
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	5,114	4,930	4,874	4,837	5,071
Property and equipment, net of accumulated depreciation	2,507	2,496	2,566	2,688	3,037
Operating lease assets	3,443	3,240	3,115	3,173	3,675
Other long-term assets	905	946	968	908	884
Total assets	12,632	11,885	11,044	11,386	12,761
Accounts payable	1,567	1,488	1,349	1,320	1,951
Accrued expenses and other current liabilities	1,044	1,083	1,108	1,219	1,367
Current portion of operating lease liabilities	634	632	600	667	734
Income taxes payable	55	53	39	50	25
Total current liabilities	3,300	3,256	3,096	3,256	4,077
Long-term debt	1,492	1,490	1,488	1,486	1,484
Long-term operating lease liabilities	3,485	3,353	3,353	3,517	4,033
Other long-term liabilities	554	522	512	544	445
Total long-term liabilities	5,531	5,365	5,353	5,897	5,962
Common stock $0.05 par value, Authorized 2,300 shares for all periods presented	19	19	19	18	19
Additional Paid in Capital	136	146	113	27	43
Retained earnings	3,608	3,039	2,420	2,140	2,622
Accumulated other comprehensive income	38	60	43	48	38
Total stockholders' equity	3,801	3,264	2,595	2,233	2,722
Total liabilities and stockholders' equity	12,632	11,885	11,044	11,386	12,761
Common stock, par value (in dollars per share)	0.05	0.05	0.05	0.05	0.05
Common stock, shares outstanding (in shares)	372	374	372	366	371
Common stock, shares issued (in shares)	372	374	372	366	371
Common stock, shares authorized (in shares)	2,300	2,300	2,300	2,300	2,300

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-01-31	FY 2025 2025-01-31	FY 2024 2024-01-31	FY 2023 2023-01-31	FY 2022 2022-01-31
Depreciation and amortization	496	500	522	540	504
Share-based compensation	162	126	80	37	139
Non-cash and other items	1	−4	−8	−16	31
Deferred income taxes	69	27	−64	42	−61
Merchandise inventory	−129	−88	383	554	−593
Other current assets and other long-term assets	−41	31	179	161	−42
Accounts payable	57	137	42	−540	186
Accrued expenses and other current liabilities	−90	−25	12	−243	172
Income taxes payable, net of receivables and other tax-related items	33	46	75	417	−85
Other long-term liabilities	−9	−19	−15	−45	−3
Operating lease assets and liabilities, net	−72	−89	−176	−107	−102
Net cash provided by operating activities	1,293	1,486	1,532	607	809
Purchases of property and equipment	−470	−447	−420	−685	−694
Proceeds from Sale of Property, Plant, and Equipment	0	7	76	458	—
Purchases of short-term investments	−419	−409	0	0	−753
Proceeds from sales and maturities of short-term investments	289	162	0	0	1,162
Proceeds from divestiture activity, net of cash paid	0	0	9	0	−21
Other	0	−5	1	0	−5
Net cash used for investing activities	−600	−692	−334	−227	−446
Repayments of revolving credit facility	0	0	−350	0	0
Proceeds from issuances under share-based compensation plans	25	32	27	27	54
Withholding tax payments related to vesting of stock units	−42	−50	−20	−20	−36
Repurchases of common stock	−155	−75	0	−123	−201
Cash dividends paid	−247	−225	−222	−220	−226
Proceeds from (Payment for) Other Financing Activity	0	−3	−2	−2	0
Net cash used for financing activities	−419	−321	−567	6	−1,471
Effect of foreign exchange rate fluctuations on cash, cash equivalents, and restricted cash	5	−9	−3	−15	−6
Net increase in cash, cash equivalents, and restricted cash	279	464	628	371	−1,114
Purchases of property and equipment not yet paid at end of period	72	44	43	55	124
Interest Paid, Excluding Capitalized Interest, Operating Activity	63	63	74	76	180
Income Taxes Paid, Net	235	237	49	−388	215
Cash paid for operating lease liabilities	980	981	932	942	1,061

Filings

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