Gap Inc. (GAP) financial statements: income statement, balance sheet and cash flow

Gap Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Jan 31, 2026 · FY), Gap Inc. reported revenue of $15.4B (+1.9% year on year) and net income of $816.0M (-3.3% year on year).

Income statement

Gap Inc. income statement, fiscal years

Line item	Jan 31, 2026 · FY	Feb 1, 2025 · FY	Feb 3, 2024 · FY	Jan 28, 2023 · FY
Net sales	$15.4B	$15.1B	$14.9B	$15.6B
Cost of goods sold and occupancy expenses	$9.1B	$8.9B	$9.1B	$10.3B
Gross profit	$6.3B	$6.2B	$5.8B	$5.4B
Operating expenses	$5.2B	$5.1B	$5.2B	$5.4B
Operating income	$1.1B	$1.1B	$560.0M	($69.0M)
Interest expense	$93.0M	$87.0M	$90.0M	$88.0M
Interest income	($110.0M)	($112.0M)	($86.0M)	($18.0M)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$1.1B	$1.1B	$556.0M	—
Income tax expense	$316.0M	$293.0M	$54.0M	$63.0M
Net income	$816.0M	$844.0M	$502.0M	($202.0M)
Weighted-average number of shares—basic	373.0M	376.0M	370.0M	367.0M
Weighted-average number of shares—diluted	384.0M	384.0M	376.0M	367.0M
Earnings per share—basic	$2.19	$2.24	$1.36	-$0.55
Earnings per share—diluted	$2.13	$2.20	$1.34	-$0.55

Gap Inc. income statement, quarters

Line item	Aug 1, 2026 · Q3	May 2, 2026 · Q2	Nov 1, 2025 · Q4	Aug 2, 2025 · Q3
Net Sales	$3.7B	$3.5B	$3.9B	$3.7B
Cost of goods sold and occupancy expenses	$1.7B	$2.1B	$2.3B	$2.2B
Gross profit	$1.9B	$1.4B	$1.7B	$1.5B
Operating Expenses	$1.3B	$972.0M	$1.3B	$1.2B
Operating income (loss)	$676.0M	$445.0M	$334.0M	$292.0M
Interest Expense	$24.0M	$22.0M	$23.0M	$23.0M
Interest income	($28.0M)	($27.0M)	($26.0M)	($27.0M)
Income (Loss) before income taxes	$680.0M	$450.0M	$337.0M	$296.0M
Income taxes	$179.0M	$111.0M	$101.0M	$80.0M
Net income (loss)	$501.0M	$339.0M	$236.0M	$216.0M
Weighted-average number of shares - basic (in shares)	355.0M	367.0M	372.0M	373.0M
Weighted-average number of shares - diluted (in shares)	362.0M	378.0M	380.0M	379.0M
Earnings (loss) per share - basic (in dollars per share)	$1.41	$0.92	$0.63	$0.58
Earnings (loss) per share - diluted (in dollars per share)	$1.38	$0.90	$0.62	$0.57

Balance sheet

Gap Inc. balance sheet, fiscal years

Line item	Jan 31, 2026 · FY	Feb 1, 2025 · FY	Feb 3, 2024 · FY	Jan 28, 2023 · FY
Cash and cash equivalents	$2.6B	$2.3B	$1.9B	$1.2B
Short-term investments	$386.0M	$253.0M	—	—
Merchandise inventory	$2.2B	$2.1B	$2.0B	$2.4B
Other current assets	$568.0M	$548.0M	$527.0M	$1.0B
Total current assets	$5.8B	$5.2B	$4.4B	$4.6B
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$5.1B	$4.9B	$4.9B	$4.8B
Property and equipment, net of accumulated depreciation	$2.5B	$2.5B	$2.6B	$2.7B
Operating lease assets	$3.4B	$3.2B	$3.1B	$3.2B
Other long-term assets	$905.0M	$946.0M	$968.0M	$908.0M
Total assets	$12.6B	$11.9B	$11.0B	$11.4B
Accounts payable	$1.6B	$1.5B	$1.3B	$1.3B
Accrued expenses and other current liabilities	$1.0B	$1.1B	$1.1B	$1.2B
Current portion of operating lease liabilities	$634.0M	$632.0M	$600.0M	$667.0M
Income taxes payable	$55.0M	$53.0M	$39.0M	$50.0M
Total current liabilities	$3.3B	$3.3B	$3.1B	$3.3B
Line of Credit Facility, Amount Outstanding	$0	$0	$0	$350.0M
Long-term debt	$1.5B	$1.5B	$1.5B	$1.5B
Long-term operating lease liabilities	$3.5B	$3.4B	$3.4B	$3.5B
Other long-term liabilities	$554.0M	$522.0M	$512.0M	$544.0M
Total long-term liabilities	$5.5B	$5.4B	$5.4B	$5.9B
Common stock $0.05 par value, Authorized 2,300 shares for all periods presented	19.0M	19.0M	19.0M	18.0M
Additional Paid in Capital	$136.0M	$146.0M	$113.0M	$27.0M
Retained earnings	$3.6B	$3.0B	$2.4B	$2.1B
Accumulated other comprehensive income	$38.0M	$60.0M	$43.0M	$48.0M
Total stockholders' equity	$3.8B	$3.3B	$2.6B	$2.2B
Total liabilities and stockholders' equity	$12.6B	$11.9B	$11.0B	$11.4B
Common stock, par value (in dollars per share)	$0.05	$0.05	$0.05	$0.05
Common stock, shares outstanding (in shares)	372.0M	374.0M	372.0M	366.0M
Common stock, shares issued (in shares)	372.0M	374.0M	372.0M	366.0M
Common stock, shares authorized (in shares)	2.3B	2.3B	2.3B	2.3B

Gap Inc. balance sheet, quarters

Line item	Aug 1, 2026	May 2, 2026	Nov 1, 2025	Aug 2, 2025
Cash and cash equivalents	$2.1B	$2.2B	$2.3B	$2.2B
Short-term investments	$382.0M	$399.0M	$255.0M	$238.0M
Merchandise inventory	$2.3B	$2.1B	$2.5B	$2.3B
Other current assets	$1.1B	$583.0M	$664.0M	$651.0M
Total current assets	$5.9B	$5.2B	$5.6B	$5.4B
Property and equipment, net of accumulated depreciation	$2.6B	$2.5B	$2.5B	$2.5B
Operating Lease, Right-of-Use Asset	$3.6B	$3.5B	$3.3B	$3.4B
Other long-term assets	$874.0M	$883.0M	$876.0M	$894.0M
Total assets	$12.9B	$12.1B	$12.4B	$12.1B
Accounts payable	$1.7B	$1.3B	$1.5B	$1.7B
Accrued expenses and other current liabilities	$869.0M	$883.0M	$1.1B	$881.0M
Operating Lease, Liability, Current	$618.0M	$631.0M	$629.0M	$631.0M
Income taxes payable	$38.0M	$89.0M	$38.0M	$29.0M
Total current liabilities	$3.2B	$2.9B	$3.3B	$3.2B
Long-term Line of Credit	$0	$0	$0	$0
Total long-term debt	$1.5B	$1.5B	$1.5B	$1.5B
Operating Lease, Liability, Noncurrent	$3.6B	$3.5B	$3.4B	$3.5B
Lease incentives and other long-term liabilities	$582.0M	$570.0M	$557.0M	$555.0M
Total long-term liabilities	$5.7B	$5.6B	$5.4B	$5.5B
Common stock, shares outstanding (in shares)	351.0M	361.0M	372.0M	371.0M
Authorized 2,300 shares for all periods presented	18.0M	18.0M	19.0M	19.0M
Additional Paid in Capital	$0	$0	$81.0M	$48.0M
Retained earnings	$3.9B	$3.6B	$3.5B	$3.3B
Amounts reclassified from accumulated other comprehensive income	$45.0M	$35.0M	$48.0M	$41.0M
Total stockholders' equity	$4.0B	$3.7B	$3.6B	$3.4B
Liabilities and Equity	$12.9B	$12.1B	$12.4B	$12.1B
Common stock, shares issued (in shares)	351.0M	361.0M	372.0M	371.0M
Common stock, shares authorized (in shares)	2.3B	2.3B	2.3B	2.3B
Common stock, par value (in dollars per share)	$0.05	$0.05	$0.05	$0.05

Cash flow statement

Gap Inc. cash flow statement, fiscal years

Line item	Jan 31, 2026 · FY	Feb 1, 2025 · FY	Feb 3, 2024 · FY	Jan 28, 2023 · FY
Net income	$816.0M	$844.0M	$502.0M	($202.0M)
Depreciation and amortization	$496.0M	$500.0M	$522.0M	$540.0M
Share-based compensation	$162.0M	$126.0M	$80.0M	$37.0M
Non-cash and other items	$1.0M	($9.0M)	$28.0M	($16.0M)
Deferred income taxes	$69.0M	$27.0M	($64.0M)	$42.0M
Merchandise inventory	($129.0M)	($88.0M)	$383.0M	$554.0M
Other current assets and other long-term assets	($41.0M)	$31.0M	$179.0M	$161.0M
Accounts payable	$57.0M	$137.0M	$42.0M	($540.0M)
Accrued expenses and other current liabilities	($90.0M)	($25.0M)	$12.0M	($243.0M)
Income taxes payable, net of receivables and other tax-related items	$33.0M	$46.0M	$75.0M	$417.0M
Other long-term liabilities	($9.0M)	($19.0M)	($15.0M)	($45.0M)
Operating lease assets and liabilities, net	($72.0M)	($89.0M)	($176.0M)	($107.0M)
Net cash provided by operating activities	$1.3B	$1.5B	$1.5B	$607.0M
Purchases of property and equipment	($470.0M)	($447.0M)	($420.0M)	($685.0M)
Proceeds from Sale of Property, Plant, and Equipment	$0	$7.0M	—	—
Purchases of short-term investments	($419.0M)	($409.0M)	$0	$0
Proceeds from sales and maturities of short-term investments	$289.0M	$162.0M	$0	$0
Proceeds from divestiture activity, net of cash paid	$0	$0	$9.0M	$0
Other	$0	($5.0M)	$1.0M	$0
Net cash used for investing activities	($600.0M)	($692.0M)	($334.0M)	($227.0M)
Repayments of revolving credit facility	$0	$0	($350.0M)	$0
Proceeds from issuances under share-based compensation plans	25.0M	32.0M	27.0M	27.0M
Withholding tax payments related to vesting of stock units	($42.0M)	($50.0M)	($20.0M)	($20.0M)
Repurchases of common stock	($155.0M)	($75.0M)	$0	($123.0M)
Cash dividends paid	($247.0M)	($225.0M)	($222.0M)	($220.0M)
Proceeds from (Payment for) Other Financing Activity	$0	($3.0M)	($2.0M)	($2.0M)
Net cash used for financing activities	($419.0M)	($321.0M)	($567.0M)	$6.0M
Effect of foreign exchange rate fluctuations on cash, cash equivalents, and restricted cash	$5.0M	($9.0M)	($3.0M)	($15.0M)
Net increase in cash, cash equivalents, and restricted cash	$279.0M	$464.0M	$628.0M	$371.0M
Cash, Cash Equivalents, and Restricted Cash at beginning of period	$2.4B	$1.9B	$1.3B	$902.0M
Cash, Cash Equivalents, and Restricted Cash end of period	$2.6B	$2.4B	$1.9B	$1.3B
Purchases of property and equipment not yet paid at end of period	$72.0M	$44.0M	$43.0M	$55.0M
Interest Paid, Excluding Capitalized Interest, Operating Activity	$63.0M	$63.0M	$74.0M	—
Income Taxes Paid, Net	$235.0M	$237.0M	$49.0M	—
Cash paid for operating lease liabilities	$980.0M	$981.0M	$932.0M	$942.0M

Gap Inc. cash flow statement, quarters

Line item	Aug 1, 2026 · YTD	May 2, 2026 · Q2	Nov 1, 2025 · YTD	Aug 2, 2025 · YTD
Net income (loss)	$840.0M	$339.0M	$645.0M	$409.0M
Depreciation and amortization	$259.0M	$128.0M	$368.0M	$243.0M
Share-based compensation	$85.0M	$40.0M	$108.0M	$71.0M
Non-cash and other items	($3.0M)	$2.0M	$6.0M	$4.0M
Deferred income taxes	$53.0M	$19.0M	$84.0M	$62.0M
Merchandise inventory	($97.0M)	$112.0M	($386.0M)	($214.0M)
Other current assets and other long-term assets	($524.0M)	($33.0M)	($115.0M)	($79.0M)
Accounts payable	$116.0M	($291.0M)	$23.0M	$137.0M
Accrued expenses and other liabilities	($185.0M)	($161.0M)	($68.0M)	($244.0M)
Income taxes payable, net of receivables and other tax-related items	$13.0M	$63.0M	$9.0M	($45.0M)
Operating lease assets and liabilities, net	($7.0M)	($5.0M)	($58.0M)	($43.0M)
Net cash provided by (used for) operating activities	$550.0M	$213.0M	$607.0M	$308.0M
Purchases of property and equipment	($289.0M)	($135.0M)	($327.0M)	($181.0M)
Purchases of short-term investments	($216.0M)	($112.0M)	($213.0M)	($145.0M)
Proceeds from sales and maturities of short-term investments	$220.0M	$98.0M	$213.0M	$162.0M
Net cash provided by (used for) investing activities	($285.0M)	($149.0M)	($327.0M)	($164.0M)
Proceeds from issuances under share-based compensation plans	12.0M	7.0M	18.0M	12.0M
Withholding tax payments related to vesting of stock units	($63.0M)	($62.0M)	($39.0M)	($29.0M)
Repurchases of common stock	($601.0M)	($401.0M)	($152.0M)	($152.0M)
Cash dividends paid	($125.0M)	($63.0M)	($185.0M)	($123.0M)
Net cash provided by (used for) financing activities	($777.0M)	($519.0M)	($358.0M)	($292.0M)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	($2.0M)	$0	$3.0M	$5.0M
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	($514.0M)	($455.0M)	($75.0M)	($143.0M)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents beginning of period	$2.6B	$2.6B	$2.4B	$2.4B
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents end of period	$2.1B	$2.2B	$2.3B	$2.2B
Cash paid for interest during the period	$33.0M	$30.0M	$61.0M	$32.0M
Cash paid for income taxes during the period, net of refunds	$233.0M	$33.0M	$173.0M	$142.0M

Gap Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.