Consumer Cyclical · Apparel - Retail
Price
$20.21
Market Cap
$7.3B
Employees
82,000
Beta
2.01
Avg Volume
7,840,149
CEO
Richard Dickson
Business Description
The Gap, Inc. operates as a prominent apparel retail enterprise, offering a diverse array of clothing, accessories, and personal care products for men, women, and children. These goods are marketed under its well-known brands: Old Navy, Gap, Banana Republic, and Athleta. Its extensive product line features staples such as denim, t-shirts, fleece wear, and khakis, alongside accessories like eyewear, jewelry, footwear, handbags, and fragrances. Athleta specifically caters to women and girls with fitness and lifestyle products designed for activities including yoga, training, sports, travel, and everyday wear. The company distributes its products through various sales channels, including its own company-operated stores, franchised locations, e-commerce websites, third-party collaborations, and catalogs. Furthermore, The Gap, Inc. has established franchise partnerships with independent operators, enabling the operation of Old Navy, Gap, Athleta, and Banana Republic stores and online platforms across Asia, Europe, Latin America, the Middle East, and Africa. As of December 31, 2021, the company's retail footprint comprised 2,835 corporate-owned stores and an additional 564 franchised outlets. Incorporated in 1969, The Gap, Inc. maintains its corporate headquarters in San Francisco, California.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
9.27
Stock Price: $20.21
EPS (Diluted): 2.18
EPS (Diluted): 2.18
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
2.75
Stock Price: $20.21
Total Equity: $3.80B
Shares: 384,000,000
Total Equity: $3.80B
Shares: 384,000,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
8.14
Market Cap: $7.28B
Total Debt: $1.49B
Cash: $2.62B
EBITDA: $1.65B
Total Debt: $1.49B
Cash: $2.62B
EBITDA: $1.65B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$13.4B
Market Cap: $7.28B
Total Debt: $1.49B
Cash: $2.62B
Total Debt: $1.49B
Cash: $2.62B
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
40.8%
Gross Profit: $6.27B
Revenue: $15.37B
Revenue: $15.37B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
7.3%
Operating Income: $1.12B
Revenue: $15.37B
Revenue: $15.37B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
5.3%
Net Income: $816.00M
Revenue: $15.37B
Revenue: $15.37B
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
21.5%
Net Income: $816.00M
Total Equity: $3.80B
Total Equity: $3.80B
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
30.0%
Operating Income: $1.12B
Tax Rate: 27.9%
Equity: $3.80B
Total Debt: $1.49B
Cash: $2.62B
Tax Rate: 27.9%
Equity: $3.80B
Total Debt: $1.49B
Cash: $2.62B
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.75
Current Assets: $5.78B
Current Liabilities: $3.30B
Current Liabilities: $3.30B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.39
Short-Term Debt: $0.00
Long-Term Debt: $1.49B
Total Debt: $1.49B
Total Equity: $3.80B
Long-Term Debt: $1.49B
Total Debt: $1.49B
Total Equity: $3.80B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$40.02
Revenue: $15.37B
Shares: 384,000,000
Shares: 384,000,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$9.90
Total Equity: $3.80B
Shares: 384,000,000
Shares: 384,000,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$2.14
Operating CF: $1.29B
CapEx: -$470.00M
Shares: 384,000,000
CapEx: -$470.00M
Shares: 384,000,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
2.4%
Last Dividend: N/A
Stock Price: $20.21
Stock Price: $20.21
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $816.00M
Net Income: $816.00M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares GAP against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 23, 2026 2:43pm (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $16.7B | $15.6B | $14.9B | $15.1B | $15.4B |
| Cost of Revenue | $10.0B | $10.3B | $9.1B | $8.9B | $9.1B |
| Gross Profit | $6.6B | $5.4B | $5.8B | $6.2B | $6.3B |
| Operating Expenses | $5.8B | $5.4B | $5.2B | $5.1B | $5.2B |
| Operating Income | $810.0M | -$69.0M | $560.0M | $1.1B | $1.1B |
| Net Income | $256.0M | -$202.0M | $502.0M | $844.0M | $816.0M |
| EBITDA | $994.0M | $489.4M | $1.2B | $1.7B | $1.7B |
| EPS | $0.68 | $-0.55 | $1.36 | $2.24 | $2.18 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 23, 2026 2:43pm (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Cash & Equivalents | $877.0M | $1.2B | $1.9B | $2.3B | $2.6B |
| Total Current Assets | $5.2B | $4.6B | $4.4B | $5.2B | $5.8B |
| Total Assets | $12.8B | $11.4B | $11.0B | $11.9B | $12.6B |
| Current Liabilities | $4.1B | $3.3B | $3.1B | $3.3B | $3.3B |
| Long-Term Debt | $1.5B | $1.8B | $1.5B | $1.5B | $1.5B |
| Total Liabilities | $10.0B | $9.2B | $8.4B | $8.6B | $8.8B |
| Total Equity | $2.7B | $2.2B | $2.6B | $3.3B | $3.8B |
| Retained Earnings | $2.6B | $2.1B | $2.4B | $3.0B | $3.6B |
Cash Flow (Annual)
Last updated: Jun 23, 2026 2:43pm (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Operating Cash Flow | $809.0M | $607.0M | $1.5B | $1.5B | $1.3B |
| Capital Expenditure | -$694.0M | -$685.0M | -$420.0M | -$447.0M | -$470.0M |
| Free Cash Flow | $115.0M | -$78.0M | $1.1B | $1.0B | $823.0M |
| Acquisitions (net) | -$156.0M | $0 | $9.0M | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$201.0M | -$123.0M | $0 | -$75.0M | -$155.0M |
| Net Change in Cash | -$1.1B | $371.0M | $628.0M | $464.0M | $279.0M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 10:09pm (10h ago)| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$15.4B $15.4B – $15.4B
|
$15.6B $15.5B – $15.7B
|
$16.0B $15.5B – $16.2B
|
$16.5B $16.5B – $16.5B
|
| EBITDA |
$2.9B $2.9B – $2.9B
|
$3.0B $2.9B – $3.0B
|
$3.0B $3.0B – $3.1B
|
$3.1B $3.1B – $3.1B
|
| Net Income |
$826.7M $822.8M – $830.5M
|
$904.9M $889.4M – $920.4M
|
$979.7M $951.7M – $1.0B
|
$1.0B $1.0B – $1.2B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 23, 2026 2:43pm (3d ago)| Metric | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue Growth | -6.3% | -4.7% | +1.3% | +1.9% |
| Gross Profit Growth | -19.3% | +7.8% | +7.8% | +0.7% |
| Operating Income Growth | -108.5% | +911.6% | +98.6% | +0.3% |
| Net Income Growth | -178.9% | +348.5% | +68.1% | -3.3% |
| EBITDA Growth | -50.8% | +138.6% | +47.6% | -4.2% |
Dividend History (Last 20)
Last updated: Jun 23, 2026 2:43pm (3d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-07-08 | $0.18 | 2026-05-12 | 2026-07-08 | 2026-07-29 |
| 2026-04-08 | $0.18 | 2026-02-24 | 2026-04-08 | 2026-04-29 |
| 2026-01-07 | $0.17 | 2025-11-12 | 2026-01-07 | 2026-01-28 |
| 2025-10-08 | $0.17 | 2025-08-13 | 2025-10-08 | 2025-10-29 |
| 2025-07-09 | $0.17 | 2025-05-20 | 2025-07-09 | 2025-07-30 |
| 2025-04-09 | $0.17 | 2025-02-25 | 2025-04-09 | 2025-04-30 |
| 2025-01-08 | $0.15 | 2024-11-12 | 2025-01-08 | 2025-01-29 |
| 2024-10-09 | $0.15 | 2024-08-13 | 2024-10-09 | 2024-10-30 |
| 2024-07-10 | $0.15 | 2024-07-10 | 2024-07-31 | |
| 2024-04-09 | $0.15 | 2024-04-10 | 2024-05-01 | |
| 2024-01-02 | $0.15 | 2024-01-03 | 2024-01-31 | |
| 2023-10-03 | $0.15 | 2023-10-04 | 2023-10-25 | |
| 2023-07-03 | $0.15 | 2023-07-05 | 2023-07-26 | |
| 2023-04-04 | $0.15 | 2023-04-05 | 2023-04-26 | |
| 2023-01-03 | $0.15 | 2023-01-04 | 2023-01-25 | |
| 2022-10-04 | $0.15 | 2022-10-05 | 2022-10-26 | |
| 2022-07-05 | $0.15 | 2022-07-06 | 2022-07-27 | |
| 2022-04-05 | $0.15 | 2022-04-06 | 2022-04-27 | |
| 2022-01-04 | $0.12 | 2022-01-05 | 2022-01-26 | |
| 2021-10-05 | $0.12 | 2021-10-06 | 2021-10-27 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for GAP — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30