The Gap, Inc. (GAP) Income Statement
GAP FY2026 at a glance
Fiscal year ended January 31, 2026 · U.S. dollarsGAP revenue and net income
Where GAP's revenue goes
FY2026Each bar shows an amount and its share of revenue. GAP kept 5.3% of revenue as net income.
GAP profit margins
GAP growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| 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) | −2.7% | — | — | −0.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GAP quarterly EPS vs estimates
Gap beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 19, 2026 (estimate $0.73).
GAP income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.37B | $15.09B | $14.89B | $15.62B | $16.67B | $13.80B | $16.38B | $16.58B | $15.86B | $15.52B |
| Cost of revenue | $9.10B | $8.86B | $9.11B | $10.26B | $10.03B | $9.10B | $10.25B | $10.26B | $9.79B | $9.88B |
| Gross profit | $6.27B | $6.23B | $5.78B | $5.36B | $6.64B | $4.71B | $6.13B | $6.32B | $6.07B | $5.64B |
| Research & development | — | $40.0M | $37.0M | $46.0M | $41.0M | $46.0M | $41.0M | $50.0M | $51.0M | $46.0M |
| Sales, general & admin | $1.10B | $5.07B | $5.10B | $5.37B | $5.81B | $4.96B | $5.08B | $4.86B | $4.57B | $4.15B |
| Total operating expenses | $5.15B | $5.12B | $5.21B | $5.43B | $5.83B | $5.57B | $5.56B | $4.96B | $4.59B | $4.45B |
| Operating income | $1.11B | $1.11B | $560.0M | −$69.0M | $810.0M | −$862.0M | $574.0M | $1.36B | $1.48B | $1.19B |
| Interest income | $110.0M | $112.0M | $86.0M | $18.0M | $5.0M | $10.0M | — | — | — | — |
| Interest expense | $23.0M | $87.0M | $90.0M | $88.0M | $167.0M | $192.0M | $76.0M | $73.0M | $74.0M | $75.0M |
| Income before taxes | $1.13B | $1.14B | $556.0M | −$139.0M | $323.0M | −$1.10B | $528.0M | $1.32B | $1.42B | $1.12B |
| Income taxes | $316.0M | $293.0M | $54.0M | $63.0M | $67.0M | −$437.0M | $177.0M | $319.0M | $576.0M | $448.0M |
| Net income | $816.0M | $844.0M | $502.0M | −$202.0M | $256.0M | −$665.0M | $351.0M | $1.00B | $848.0M | $676.0M |
| EBITDA | $1.65B | $1.72B | $1.17B | $489.4M | $994.0M | −$403.0M | $1.16B | $1.97B | $2.06B | $1.79B |
| EPS (diluted) | $2.15 | $2.21 | $1.35 | −$0.55 | $0.65 | −$1.81 | $0.92 | $2.59 | $2.15 | $1.69 |
| Gross margin | 40.8% | 41.3% | 38.8% | 34.3% | 39.8% | 34.1% | 37.4% | 38.1% | 38.3% | 36.3% |
| Operating margin | 7.3% | 7.4% | 3.8% | −0.4% | 4.9% | −6.2% | 3.5% | 8.2% | 9.3% | 7.7% |
| Net margin | 5.3% | 5.6% | 3.4% | −1.3% | 1.5% | −4.8% | 2.1% | 6.0% | 5.3% | 4.4% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.65B | $3.50B | $4.24B | $3.94B | $3.73B | $3.46B | $4.15B | $3.83B | $3.72B | $3.39B | $4.30B | $3.77B |
| Cost of revenue | $1.72B | $2.08B | $2.62B | $2.27B | $2.19B | $2.02B | $2.54B | $2.19B | $2.14B | $1.99B | $2.63B | $2.21B |
| Gross profit | $1.93B | $1.42B | $1.61B | $1.67B | $1.54B | $1.45B | $1.61B | $1.64B | $1.58B | $1.40B | $1.67B | $1.56B |
| Research & development | — | — | — | — | — | — | $40.0M | — | — | — | $37.0M | — |
| Sales, general & admin | — | — | — | — | — | — | $1.29B | — | — | — | $1.44B | — |
| Total operating expenses | $1.25B | $972.0M | $1.39B | $1.34B | $1.24B | $1.19B | $1.35B | $1.28B | $1.29B | $1.19B | $1.46B | $1.31B |
| Operating income | $676.0M | $445.0M | $229.0M | $334.0M | $292.0M | $260.0M | $259.0M | $355.0M | $293.0M | $205.0M | $214.0M | $250.0M |
| Interest income | $28.0M | $27.0M | $31.0M | $26.0M | $27.0M | $26.0M | $32.0M | $29.0M | $27.0M | $24.0M | $28.0M | $28.0M |
| Interest expense | $24.0M | $22.0M | $24.0M | $23.0M | $23.0M | $23.0M | $19.0M | $23.0M | $24.0M | $21.0M | $24.0M | $28.0M |
| Income before taxes | $680.0M | $450.0M | $236.0M | $337.0M | $296.0M | $263.0M | $272.0M | $361.0M | $296.0M | $208.0M | $218.0M | $250.0M |
| Income taxes | $179.0M | $111.0M | $65.0M | $101.0M | $80.0M | $70.0M | $66.0M | $87.0M | $90.0M | $50.0M | $33.0M | $32.0M |
| Net income | $501.0M | $339.0M | $171.0M | $236.0M | $216.0M | $193.0M | $206.0M | $274.0M | $206.0M | $158.0M | $185.0M | $218.0M |
| EBITDA | $376.0M | $578.0M | $364.0M | $462.0M | $441.0M | $407.0M | $408.0M | $508.0M | $443.0M | $353.0M | $370.0M | $405.0M |
| EPS (diluted) | $0.52 | $0.38 | $0.45 | $0.62 | $0.57 | $0.51 | $0.54 | $0.72 | $0.54 | $0.41 | $0.49 | $0.59 |
| Gross margin | 52.8% | 40.5% | 38.1% | 42.4% | 41.2% | 41.8% | 38.9% | 42.7% | 42.6% | 41.2% | 38.9% | 41.3% |
| Operating margin | 18.5% | 12.7% | 5.4% | 8.5% | 7.8% | 7.5% | 6.2% | 9.3% | 7.9% | 6.1% | 5.0% | 6.6% |
| Net margin | 13.7% | 9.7% | 4.0% | 6.0% | 5.8% | 5.6% | 5.0% | 7.2% | 5.5% | 4.7% | 4.3% | 5.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GAP's financial statements (latest annual report filed March 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GAP financial results
In fiscal year 2026 (ended January 31, 2026), Gap reported revenue of $15.4 billion, up 1.9% from the year before. It had net income of $816.0 million (down 3.3%), a net profit margin of 5.3%. Diluted earnings per share came to $2.15. Over five years revenue grew at an average rate of 2.2% a year.
See the GAP stock overview for the latest quote and news, or the GAP chart for price history and technical indicators.
GAP income statement FAQ
What is Gap's annual revenue?
Gap reported total revenue of $15.4 billion for fiscal year 2026, which ended on January 31, 2026. That was up 1.9% from $15.1 billion the previous year.
Is Gap profitable?
Yes. Gap reported net income of $816.0 million in fiscal 2026, a net profit margin of 5.3%; its operating margin was 7.3%.
What is Gap's gross margin?
Gap's gross margin was 40.8% in fiscal 2026: for every $100 of revenue, Gap kept $41 after the direct cost of its products and services.
How fast is Gap growing?
Revenue grew 2.2% a year on average over the last five fiscal years, from $13.8 billion to $15.4 billion.
What are Gap's earnings per share?
Gap earned $2.15 per diluted share in fiscal 2026, compared with $2.21 a year earlier.
When will Gap report its next earnings?
Gap is expected to report results for the quarter ending October 31, 2026 on November 19, 2026 after the market closes.
When does Gap's fiscal year end?
Gap's fiscal year ends in January. The latest annual report covers the year ended January 31, 2026 and was filed on March 17, 2026.