Gap Inc. Income Statement

GAP / Consumer Discretionary|15 years of annual SEC 10-K data (FY2011-FY2025)

Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.

Gap Inc. reported $15.4B in revenue and $816M in net income for FY2025. Revenue has grown at a 0.4% compound annual rate over the past 14 years.

Based on SEC 10-K filings.

Key Data Points

High earnings quality (cash-backed earnings)
Strong return on equity: 23.3%

Data sourced from SEC EDGAR filings. Not investment advice.

Item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011
Revenue	$15.4B	$15.1B	$14.9B	$15.6B	$16.7B	$13.8B	$16.4B	$16.6B	$15.9B	$15.5B	$15.8B	$16.4B	$16.1B	$15.7B	$14.5B
Cost of Revenue	$9.1B	$8.9B	$9.1B	$10.3B	$10.0B	$9.1B	$10.3B	$10.3B	$9.8B	-	-	-	-	-	-
Gross Profit	$6.3B	$6.2B	$5.8B	$5.4B	$6.6B	$4.7B	$6.1B	$6.3B	$6.1B	$5.6B	$5.7B	$6.3B	$6.3B	$6.2B	$5.3B
R&D Expense	$60.0M	$40.0M	$37.0M	$46.0M	$41.0M	$46.0M	$41.0M	$50.0M	$51.0M	$46.0M	-	-	-	-	-
Operating Income	$1.1B	$1.1B	$560.0M	-$69.0M	$810.0M	-$862.0M	$574.0M	$1.4B	$1.5B	$1.2B	$1.5B	$2.1B	$2.1B	$1.9B	$1.4B
Interest Expense	$93.0M	$87.0M	$90.0M	$88.0M	$167.0M	$192.0M	$76.0M	$73.0M	$74.0M	$75.0M	$59.0M	$75.0M	$61.0M	$87.0M	$74.0M
Income Tax	$316.0M	$293.0M	$54.0M	$63.0M	$67.0M	-$437.0M	$177.0M	$319.0M	$576.0M	$448.0M	$551.0M	$751.0M	$813.0M	$726.0M	$536.0M
Net Income	$816.0M	$844.0M	$502.0M	-$202.0M	$256.0M	-$665.0M	$351.0M	$1.0B	$848.0M	$676.0M	$920.0M	$1.3B	$1.3B	$1.1B	$833.0M
EPS (Basic)	$1.36	-$0.55	$0.68	-$1.78	$0.93	$2.61	$2.16	$1.69	$2.24	$2.90	$2.78	$2.35	$1.57	$1.89	$1.59
EPS (Diluted)	$1.34	-$0.55	$0.67	-$1.78	$0.93	$2.59	$2.14	$1.69	$2.23	$2.87	$2.74	$2.33	$1.56	$1.88	$1.58
Shares Outstanding	374.0M	372.0M	366.0M	371.0M	374.0M	371.0M	378.0M	389.0M	399.0M	397.0M	421.0M	446.0M	463.0M	485.0M	588.0M
Gross Margin	40.8%	41.3%	38.8%	34.3%	39.8%	34.1%	37.4%	38.1%	38.3%	36.4%	36.2%	38.3%	39.0%	39.4%	36.3%
Operating Margin	7.3%	7.4%	3.8%	-0.4%	4.9%	-6.3%	3.5%	8.2%	9.3%	7.7%	9.7%	12.7%	13.3%	12.4%	9.9%
Profit Margin	5.3%	5.6%	3.4%	-1.3%	1.5%	-4.8%	2.1%	6.0%	5.3%	4.4%	5.8%	7.7%	7.9%	7.2%	5.7%

Other Financial Statements

Balance Sheet Cash Flow Statement All Financial Data

Scores & Analysis

Piotroski F-Score Altman Z-Score Financial Ratios

Gap Inc. Profile All Financial Data

Item

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2019

FY2018

FY2017

FY2016

FY2015

FY2014

FY2013

FY2012

FY2011

Revenue

$15.4B

$15.1B

$14.9B

$15.6B

$16.7B

$13.8B

$16.4B

$16.6B

$15.9B

$15.5B

$15.8B

$16.4B

$16.1B

$15.7B

$14.5B

Cost of Revenue

$9.1B

$8.9B

$9.1B

$10.3B

$10.0B

$9.1B

$10.3B

$9.8B

Gross Profit

$6.3B

$6.2B

$5.8B

$5.4B

$6.6B

$4.7B

$6.1B

$6.3B

$6.1B

$5.6B

$5.7B

$6.3B

$6.2B

$5.3B

R&D Expense

$60.0M

$40.0M

$37.0M

$46.0M

$41.0M

$46.0M

$41.0M

$50.0M

$51.0M

$46.0M

Operating Income

$1.1B

$560.0M

-$69.0M

$810.0M

-$862.0M

$574.0M

$1.4B

$1.5B

$1.2B

$1.5B

$2.1B

$1.9B

$1.4B

Interest Expense

$93.0M

$87.0M

$90.0M

$88.0M

$167.0M

$192.0M

$76.0M

$73.0M

$74.0M

$75.0M

$59.0M

$75.0M

$61.0M

$87.0M

$74.0M

Income Tax

$316.0M

$293.0M

$54.0M

$63.0M

$67.0M

-$437.0M

$177.0M

$319.0M

$576.0M

$448.0M

$551.0M

$751.0M

$813.0M

$726.0M

$536.0M

Net Income

$816.0M

$844.0M

$502.0M

-$202.0M

$256.0M

-$665.0M

$351.0M

$1.0B

$848.0M

$676.0M

$920.0M

$1.3B

$1.1B

$833.0M

EPS (Basic)

$1.36

-$0.55

$0.68

-$1.78

$0.93

$2.61

$2.16

$1.69

$2.24

$2.90

$2.78

$2.35

$1.57

$1.89

$1.59

EPS (Diluted)

$1.34

-$0.55

$0.67

-$1.78

$0.93

$2.59

$2.14

$1.69

$2.23

$2.87

$2.74

$2.33

$1.56

$1.88

$1.58

Shares Outstanding

374.0M

372.0M

366.0M

371.0M

374.0M

371.0M

378.0M

389.0M

399.0M

397.0M

421.0M

446.0M

463.0M

485.0M

588.0M

Gross Margin

40.8%

41.3%

38.8%

34.3%

39.8%

34.1%

37.4%

38.1%

38.3%

36.4%

36.2%

38.3%

39.0%

39.4%

36.3%

Operating Margin

7.3%

7.4%

3.8%

-0.4%

4.9%

-6.3%

3.5%

8.2%

9.3%

7.7%

9.7%

12.7%

13.3%

12.4%

9.9%

Profit Margin

5.3%

5.6%

3.4%

-1.3%

1.5%

-4.8%

2.1%

6.0%

5.3%

4.4%

5.8%

7.7%

7.9%

7.2%

5.7%