GAPNYSERetail-Family Clothing StoresFiscal year ends February 1
GAP INC
Financials through Q2 FY2026, quarter ended Aug 1, 2026Last filing: 10-Q on Aug 28, 2026
$23.54+0.42 (+1.82%)
Close on Oct 19, 2026
- Market cap
- $8.52B
- P/E (TTM)
- 7.0
- Dividend yield
- 2.80%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
40.8%+6.7 pts over 5 years
Operating margin
7.3%+13.5 pts over 5 years
Net margin
5.3%+10.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +1.9% | -0.5% | +2.2% | -0.3% | |
| Gross profit | +0.7% | +5.4% | +5.9% | +0.9% | |
| Operating income | +0.3% | – | – | -3.1% | |
| Net income | -3.3% | – | – | -1.2% | |
| EPS, diluted | -3.2% | – | – | -0.5% | |
| Free cash flow | -20.8% | – | – | -0.5% | |
| Dividend per share | +10.0% | +3.2% | +22.2% | -3.3% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 24.8% | -22.4% | 23.1% | |
| Return on assets | 9.0% | -4.8% | 6.7% | |
| Current ratio | 1.76 | 1.55 | 1.75 | |
| Debt to equity | 0.45 | 0.85 | 0.39 | |
| Net debt to EBITDA | -0.27× | -0.56× | -0.70× | |
| Interest coverage | 15.9× | -4.5× | 12.0× | |
| Capex to revenue | 3.4% | 2.8% | 3.1% | |
| Diluted shares | 400M | 374M | 384M |
Where the cash went
Fiscal 2021 to 2025, five years combined
GAP generated $5.73B from operations and spent $4.41B on capital expenditure, dividends and share buybacks. 62% of that went back into the business.
Generated
$5.73B
Used
$4.41B
Capital expenditure$2.72B62%Dividends$1.14B26%Share buybacks$554.00M13%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin5.3%
×Asset turnover1.25×
×Equity multiplier3.47×
=Return on equity, FY202523.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 5.3% | 1.25× | 3.47× | 23.1% |
| FY2024 | 5.6% | 1.32× | 3.91× | 28.8% |
| FY2023 | 3.4% | 1.33× | 4.65× | 20.8% |
| FY2022 | -1.3% | 1.29× | 4.87× | -8.2% |
| FY2021 | 1.5% | 1.26× | 4.97× | 9.6% |
| FY2020 | -4.8% | 1.01× | 4.63× | -22.4% |
| FY2019 | 2.1% | 1.51× | 3.16× | 10.2% |
| FY2018 | 6.0% | 2.07× | 2.39× | 30.0% |
| FY2017 | 5.3% | 2.03× | 2.58× | 28.0% |
| FY2016 | 4.4% | 2.06× | 2.77× | 24.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$816.00M
- Cash generatingOperating cash flow above zero$1.29B
- Return on assets improvedROA up on the prior year7.6% → 6.9%
- Earnings backed by cashOperating cash flow above net income$1.29B vs $816.00M
- Less leverageLong-term debt to assets fell12.5% → 11.8%
- Better liquidityCurrent ratio rose1.60 → 1.75
- No dilutionShare count did not rise384M → 384M
- Gross margin improvedGross margin up on the prior year41.28% → 40.79%
- More efficientAsset turnover rose1.37 → 1.29