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The Gap, Inc.

GAP Consumer Cyclical Apparel Retail

The Gap, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $15.4 billion, up 1.86% from fiscal 2025.

Revenue
−1.99%
EPS
+143.1%
Free cash flow
−47.7%
Total debt
−29.6%

Quarter to July 2026, against a year earlier

22.45 1.30 −5.47%
Market cap
$7.9B
P/E
6.6×
Fwd P/E
6.1×
Dividend yield
3.07%
F-score
6/9
Altman Z
2.85
Beneish M
n/a
Dividend safety
82/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2013

  • Stores Reportable Segments
  • Direct Reportable Segments

Every year since 2010 →

Insider Decisions last twelve months

Sold, $m 61.90
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 4 — — 11 4 — — — — 1 2 —
Insider Ownership 35.22%

Capital & Financial Ratios $m

Size
Market Cap 7,870.00
Revenue ttm 15,326.00
Net income ttm 1,247.00
Free cash flow ttm 957.00
Net debt Q (992.00)
Valuation
P/E 6.56
Forward P/E 6.06
Price / sales 0.52
Forward P/S Powerpack
Price / FCF 8.33
Price / book 2.02
Financial health
Current ratio Q 1.82 (at or above 1.5: strong)
Debt / equity Q 0.38 (at or below 0.5: strong)
Interest coverage Q 28.17
Growth
Revenue growth Q −1.99% (below 0%: shrinking)
Operating income growth Q +131.51% (above 0%: growing)
EPS, this year +12.74%
EPS, next year A +9.50%
Revenue, next year A +1.15%
EPS, past 5 yrs —
EPS, next 5 yrs A +10.35%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.5×, against a ten-year median of 0.5×; over the ten years it ranged from 0.1× in 2020 to 0.9× in 2017.
P/E against its own 10 years 3.55%
10-year low 10-year high
P/S against its own 10 years 41.99%
10-year low 10-year high
P/B against its own 10 years 26.00%
10-year low 10-year high
EV/Sales against its own 10 years 41.91%
10-year low 10-year high
EV/FCF against its own 10 years 31.52%
10-year low 10-year high

Dividends raised 2 years running

Yield
3.07%
Annual rate
0.69
Payout ratio
20.6%
Growth, 2018–26
−4.03%/yr
  1. 0.96 ’18
  2. 0.97 ’19 +1
  3. 0.24 ’20 −75
  4. 0.48 ’21 +99
  5. 0.57 ’22 +18
  6. 0.60 ’23 +5
  7. 0.60 ’24 +0
  8. 0.65 ’25 +8
  9. 0.69 ’26 +7
paid change on the year, % Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 1,873 2,588 3,002 2,485
Receivables — — — —
Inventory 1,995 2,067 2,207 2,297
Other 527 548 568 1,088
4,395 5,203 5,777 5,870
2024 2025 2026 Q'26
Payables 1,349 1,488 1,567 1,696
ST’ Debt — — — —
Other — — — —
3,096 3,256 3,300 3,221

Compound Annual Growth %

10y 5y 3y
Sales (0.28%) 2.17% (0.54%)
Cash Flow (2.07%) 40.40% 28.67%
Earnings (1.19%) 0.00% 0.00%
Book Value 4.09% 7.78% 19.40%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.50 Actual 0.52

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.58 0.62 Beat by 0.04
Q4 FY25 0.45 0.45 Met by 0.00
Q1 FY26 0.39 0.38 Miss by 0.01
Q2 FY26 0.50 0.52 Beat by 0.02
Q3 FY26 0.73 — Reports 19 November 2026

EPS $

Apr Jul Oct Jan Year
’26 0.90 1.38 — — —
’26 0.51 0.57 0.62 0.45 2.13
’25 0.41 0.54 0.72 0.54 2.20
’24 (0.05) 0.32 0.58 0.49 1.34
’23 (0.44) (0.13) 0.77 (0.75) (0.55)
’22 0.43 0.67 (0.40) (0.04) 0.67
’21 (2.51) (0.17) 0.25 0.61 (1.78)
Fiscal quarters ending in the months shown.

Revenue $m

Apr Jul Oct Jan Year
’26 3,497 3,651 — — —
’26 3,463 3,725 3,942 4,236 15,366
’25 3,388 3,720 3,829 4,149 15,086
’24 3,276 3,548 3,767 4,298 14,889
’23 3,477 3,857 4,039 4,243 15,616
’22 3,991 4,211 3,943 4,525 16,670
’21 2,107 3,275 3,994 4,424 13,800
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 213 337 — — —
’26 (140) 448 299 686 1,293
’25 30 549 291 616 1,486
’24 15 513 304 700 1,532
’23 (362) 155 95 719 607
’22 340 452 (110) 127 809
’21 (940) 853 486 (162) 237
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 78 183 — — —
’26 (223) 350 153 543 823
’25 (63) 460 143 506 1,046
’24 (26) 431 215 568 1,188
’23 (257) (23) 49 611 380
’22 216 307 (327) (81) 115
’21 (1,062) 767 406 (266) (155)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing −4.3% a year for ten years. It grew −2.1% a year over the last ten.

Implied
−4.3%
10 years, reported
−2.1%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Jul ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 15,516 15,855 16,580 16,383 13,800 16,670 15,616 14,889 15,086 15,366 15,326 (0.1%) 15,543 16,001 16,522 +2.4%
Gross margin, % 36.35 38.26 38.13 37.44 34.09 39.81 34.32 38.79 41.28 40.79 43.26 +4.4 pt
EBT 1,124 1,424 1,322 528 (1,102) 323 (139) 556 1,137 1,132 1,703 +0.1%
EBT margin, % 7.24 8.98 7.97 3.22 (7.99) 1.94 (0.89) 3.73 7.54 7.37 11.11 +0.1 pt
Net income 676 848 1,003 351 (665) 256 (202) 502 844 816 1,247 +2.1%
Per share, $
Per share, $ Revenue 38.89 40.34 43.06 43.57 36.90 44.34 42.55 40.24 40.12 41.20 43.17 +0.6%
Earnings 1.69 2.16 2.61 0.93 (1.78) 0.68 (0.55) 1.36 2.24 2.19 3.42 +2.9%
Cash flow 4.31 3.51 3.59 3.75 0.63 2.15 1.65 4.14 3.95 3.47 4.32 (2.4%)
Capex (1.31) (1.86) (1.83) (2.19) (1.05) (1.85) (0.62) (0.93) (1.17) (1.26) (1.63) (0.5%)
Free cash flow 3.00 1.65 1.76 1.56 (0.41) 0.31 1.04 3.21 2.78 2.21 2.70 (3.3%)
Book value 7.28 8.00 9.23 8.82 6.99 7.24 6.08 7.01 8.68 10.19 11.13 +3.8%
Shares, m 399 393 385 376 374 376 367 370 376 373 367 (0.7%)
Valuation, ×
Valuation, × P/E 13.63 15.32 9.78 18.92 0.00 26.57 0.00 13.74 10.70 13.15 6.56 12.2
P/S 0.59 0.82 0.59 0.40 0.55 0.41 0.32 0.46 0.60 0.70 0.52 0.5
P/B 3.16 4.16 2.76 1.97 2.88 2.50 2.23 2.66 2.77 2.81 2.02 2.8
EV/Sales 0.56 0.79 0.59 0.38 0.54 0.45 0.36 0.44 0.53 0.64 0.50 0.5
EV/FCF 7.30 19.41 14.41 10.59 (47.85) 64.94 14.92 5.55 7.67 11.93 7.95 10.9
Cash, $m
Cash, $m Operating cash flow 1,719 1,380 1,381 1,411 237 809 607 1,532 1,486 1,293 1,535 (3.1%)
Capex (524) (731) (705) (825) (392) (694) (227) (344) (440) (470) (578) (1.2%)
Free cash flow 1,195 649 676 586 (155) 115 380 1,188 1,046 823 957 (4.1%)
Balance, $m
Balance, $m Working capital 1,862 2,107 2,077 1,307 2,124 1,088 1,361 1,299 1,947 2,477 2,649 +3.2%
Net debt (470) (534) (120) (405) (182) 607 621 (385) (1,098) (1,510) (992) +13.8%
Shareholders’ equity 2,904 3,144 3,553 3,316 2,614 2,722 2,233 2,595 3,264 3,801 3,951 +3.0%
Returns, %
Returns, % ROA 8.96 10.87 12.51 3.23 (4.85) 1.93 (1.67) 4.48 7.36 6.66 9.98 (2.3) pt
ROIC 30.58 35.42 24.80 12.32 (22.15) 15.21 (1.51) 15.84 32.09 30.42 35.57 (0.2) pt
ROE 24.81 28.04 29.95 10.22 (22.43) 9.60 (8.15) 20.80 28.81 23.10 33.78 (1.7) pt
People
People Employees 135,000 135,000 135,000 129,000 117,000 97,000 95,000 85,000 82,000 79,000 — (5.8%)
Revenue/emp, $m 0.11 0.12 0.12 0.13 0.12 0.17 0.16 0.18 0.18 0.19 — +6.0%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026

Business profile

Updated

The Gap, Inc. sells apparel, accessories and personal care products for men, women and children. Founded in 1969 and headquartered in San Francisco, the company is led by President and Chief Executive Officer Richard Dickson.

Its brands address different parts of the apparel market. Old Navy focuses on value-priced fashion for a broad customer base. Gap sells casual apparel and accessories, including collections for children and babies. Banana Republic sells apparel through its regular and factory stores, while Athleta focuses on performance and lifestyle products for women and girls.

Where the money comes from and where it goes Fiscal 2013

Fiscal 2013: revenue by segment, and margins
Stores Reportable Segments 13,724 87.69%
Direct Reportable Segments 1,927 12.31%
Gross margin 39.43%
Operating margin 12.41%
Pre-tax margin 11.89%

Revenue by segment since 2010

The Gap, Inc. vs peers in Apparel Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BURL Burlington Stores, Inc. $15.8B 22.5× 20.6× +10.99% (above 0%: growing) +95.92% (above 0%: growing) +31.74% (above 0%: growing) 46.24% 8.51% Compare
LULU lululemon athletica inc. $13.0B 9.2× 11.1× −4.34% (below 0%: shrinking) −5.81% (below 0%: shrinking) +49.33% (above 0%: growing) 60.52% 18.78% Compare
VSXY Victoria's Secret & Co. $8.5B 23.9× 18.9× +10.42% (above 0%: growing) +990.00% (above 0%: growing) +272.73% (above 0%: growing) 47.11% 15.95% Compare
GAP The Gap, Inc. $7.9B 6.6× 6.1× −1.99% (below 0%: shrinking) +143.10% (above 0%: growing) −47.71% (below 0%: shrinking) 52.83% 18.52%
URBN Urban Outfitters, Inc. $7.5B 13.5× 12.8× +10.44% (above 0%: growing) +75.63% (above 0%: growing) +92.47% (above 0%: growing) 43.42% 17.37% Compare
ANF Abercrombie & Fitch Company $6.7B 13.4× 12.2× +4.81% (above 0%: growing) +41.41% (above 0%: growing) +296.59% (above 0%: growing) 71.10% 19.95% Compare
BOOT Boot Barn Holdings, Inc. $4.2B 16.6× 14.9× +15.12% (above 0%: growing) +25.80% (above 0%: growing) +62.25% (above 0%: growing) 37.21% 12.07% Compare
AEO American Eagle Outfitters, Inc. $3.4B 10.2× 8.6× +7.53% (above 0%: growing) +77.78% (above 0%: growing) +367.29% (above 0%: growing) 48.69% 15.32% Compare
BKE Buckle, Inc. (The) $2.3B 10.1× 10.8× +4.60% (above 0%: growing) −2.22% (below 0%: shrinking) −63.66% (below 0%: shrinking) 47.85% 17.45% Compare
Median of peers $7.1B 13.5× 12.5× +8.98% +58.52% +77.36% 47.48% 16.66%

All 33 Apparel Retail stocks →

From the latest earnings call

Updated

  • CEO Richard Dickson said Old Navy’s seasonal assortment and marketing fell short, but sales and traffic improved in August as fall products and campaigns arrived.
  • CFO Katrina O’Connell said Gap brand merchandise margins helped the company offset more promotional activity at Old Navy in the second quarter.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 61.01%
Held by the ten largest 31.67%
Holder Shares Stake Change
Vanguard 24.26m 6.74% +87.41k
BlackRock 22.96m 6.38% +969.66k
Dimensional Fund Advisors 16.19m 4.50% +1.93m
AQR Capital Management 14.63m 4.06% +3.15m
Arrowstreet Capital 9.09m 2.53% +4.55m
State Street 7.79m 2.16% +85.14k
Victory Capital 6.14m 1.70% +697.49k
Fidelity (FMR) 4.42m 1.23% −2.50m
Goldman Sachs 4.41m 1.23% +3.02m
Geode Capital Management 4.14m 1.15% −40.36k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 27 March 2026

Ownership

Directors and executive officers, together 31.00%
William S. Fisher 16.09%
Robert J. Fisher 15.39%
John J. Fisher 14.73%
The Vanguard Group 6.95%
BlackRock, Inc. 5.14%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

The Gap, Inc. (GAP) Latest News

29 Oct

Impact 3 · · PR Newswire
Impact 3 · · retaildive.com

22 Oct

Impact 4 · · wwd.com
Impact 4 · · marketingdive.com
Impact 3 · · Business Wire
Impact 3 · · StockStory
Impact 3 · · Zacks

21 Oct

Impact 3 · · Zacks

19 Oct

Impact 3 · · retaildive.com

16 Oct

Impact 3 · · Simply Wall St.

13 Oct

Impact 3 · · wwd.com

8 Oct

Impact 4 · · Investing.com
Impact 4 · · Zacks

7 Oct

Impact 4 · · wwd.com

23 Sep

Impact 4 · · Associated Press
Impact 4 · · Simply Wall St.
Impact 3 ·

22 Sep

Impact 4 · · wwd.com
Impact 4 ·

15 Sep

Impact 4 · · retaildive.com
Impact 3 ·

6 Sep

Impact 3 ·

4 Sep

Impact 3 ·

2 Sep

Impact 3 ·

1 Sep

Impact 3 ·

31 Aug

Impact 4 · · The Motley Fool transcript
Impact 3 · · Stocktwits

30 Aug

Impact 4 · · The Motley Fool

28 Aug

Impact 4 ·
Impact 3 ·

GAP metrics, ten years each

stockrow.com/GAP · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com