G

GAP, INC

GAP · CIK 0000039911

19 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$15.37B1.9%
FY2025
Net income (FY)
$816.0M3.3%
FY2025
Free cash flow (FY)
$823.0M20.8%
FY2025
Diluted EPS (FY)
$2.133.2%
FY2025
The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$5B$10B$15BFY2007 · Revenue $15.76B · Net income $833.0M · 0001193125-10-068386 · filed 2010-03-26FY07Revenue $15.76BNet income $833.0M0001193125-10-068386 · filed 2010-03-26FY2008 · Revenue $14.53B · Net income $967.0M · 0001193125-11-079691 · filed 2011-03-28FY08Revenue $14.53BNet income $967.0M0001193125-11-079691 · filed 2011-03-28FY2009 · Revenue $14.20B · Net income $1.10B · 0001193125-12-132098 · filed 2012-03-26FY09Revenue $14.20BNet income $1.10B0001193125-12-132098 · filed 2012-03-26FY2010 · Revenue $14.66B · Net income $1.20B · 0000039911-13-000057 · filed 2013-03-26FY10Revenue $14.66BNet income $1.20B0000039911-13-000057 · filed 2013-03-26FY2011 · Revenue $14.55B · Net income $833.0M · 0000039911-14-000045 · filed 2014-03-24FY11Revenue $14.55BNet income $833.0M0000039911-14-000045 · filed 2014-03-24FY2012 · Revenue $15.65B · Net income $1.14B · 0000039911-15-000101 · filed 2015-03-23FY12Revenue $15.65BNet income $1.14B0000039911-15-000101 · filed 2015-03-23FY2013 · Revenue $16.15B · Net income $1.28B · 0000039911-16-000269 · filed 2016-03-21FY13Revenue $16.15BNet income $1.28B0000039911-16-000269 · filed 2016-03-21FY2014 · Revenue $16.43B · Net income $1.26B · 0000039911-17-000058 · filed 2017-03-20FY14Revenue $16.43BNet income $1.26B0000039911-17-000058 · filed 2017-03-20FY2015 · Revenue $15.80B · Net income $920.0M · 0000039911-18-000048 · filed 2018-03-20FY15Revenue $15.80BNet income $920.0M0000039911-18-000048 · filed 2018-03-20FY2016 · Revenue $15.52B · Net income $676.0M · 0000039911-19-000023 · filed 2019-03-19FY16Revenue $15.52BNet income $676.0M0000039911-19-000023 · filed 2019-03-19FY2017 · Revenue $15.86B · Net income $848.0M · 0000039911-20-000019 · filed 2020-03-17FY17Revenue $15.86BNet income $848.0M0000039911-20-000019 · filed 2020-03-17FY2018 · Revenue $16.58B · Net income $1.00B · 0000039911-21-000021 · filed 2021-03-16FY18Revenue $16.58BNet income $1.00B0000039911-21-000021 · filed 2021-03-16FY2019 · Revenue $16.38B · Net income $351.0M · 0000039911-22-000012 · filed 2022-03-15FY19Revenue $16.38BNet income $351.0M0000039911-22-000012 · filed 2022-03-15FY2020 · Revenue $13.80B · Net income −$665.0M · 0000039911-23-000015 · filed 2023-03-14FY20Revenue $13.80BNet income −$665.0M0000039911-23-000015 · filed 2023-03-14FY2021 · Revenue $16.67B · Net income $256.0M · 0000039911-24-000066 · filed 2024-03-19FY21Revenue $16.67BNet income $256.0M0000039911-24-000066 · filed 2024-03-19FY2022 · Revenue $15.62B · Net income −$202.0M · 0000039911-25-000029 · filed 2025-03-18FY22Revenue $15.62BNet income −$202.0M0000039911-25-000029 · filed 2025-03-18FY2023 · Revenue $14.89B · Net income $502.0M · 0001628280-26-018573 · filed 2026-03-17FY23Revenue $14.89BNet income $502.0M0001628280-26-018573 · filed 2026-03-17FY2024 · Revenue $15.09B · Net income $844.0M · 0001628280-26-018573 · filed 2026-03-17FY24Revenue $15.09BNet income $844.0M0001628280-26-018573 · filed 2026-03-17FY2025 · Revenue $15.37B · Net income $816.0M · 0001628280-26-018573 · filed 2026-03-17FY25Revenue $15.37BNet income $816.0M0001628280-26-018573 · filed 2026-03-17FY25Revenue $15.37BNet income $816.0M0001628280-26-018573 · filed 2026-03-17FY07FY10FY13FY16FY19FY22FY25

net margin 5.3% → 5.3%

MarginsNet marginFCF margin
-5%0%5%10%FY2007 · Net margin 5.3% · FCF margin 8.9%FY07Net margin 5.3%FCF margin 8.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2008 · Net margin 6.7% · FCF margin 6.8%FY08Net margin 6.7%FCF margin 6.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 7.8% · FCF margin 11.2%FY09Net margin 7.8%FCF margin 11.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 8.2% · FCF margin 8.1%FY10Net margin 8.2%FCF margin 8.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 5.7% · FCF margin 5.6%FY11Net margin 5.7%FCF margin 5.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 7.3% · FCF margin 8.2%FY12Net margin 7.3%FCF margin 8.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 7.9% · FCF margin 6.4%FY13Net margin 7.9%FCF margin 6.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 7.7% · FCF margin 8.6%FY14Net margin 7.7%FCF margin 8.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 5.8% · FCF margin 5.5%FY15Net margin 5.8%FCF margin 5.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 4.4% · FCF margin 7.7%FY16Net margin 4.4%FCF margin 7.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 5.3% · FCF margin 4.1%FY17Net margin 5.3%FCF margin 4.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 6.0% · FCF margin 4.1%FY18Net margin 6.0%FCF margin 4.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 2.1% · FCF margin 4.3%FY19Net margin 2.1%FCF margin 4.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin -4.8% · FCF margin -1.1%FY20Net margin -4.8%FCF margin -1.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 1.5% · FCF margin 0.7%FY21Net margin 1.5%FCF margin 0.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin -1.3% · FCF margin -0.5%FY22Net margin -1.3%FCF margin -0.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 3.4% · FCF margin 7.5%FY23Net margin 3.4%FCF margin 7.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 5.6% · FCF margin 6.9%FY24Net margin 5.6%FCF margin 6.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 5.3% · FCF margin 5.4%FY25Net margin 5.3%FCF margin 5.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 5.3%FCF margin 5.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 5.3% · free cash flow 5.4% of revenue

Cash engineOperating cash flowFree cash flow
$0$1B$2BFY2007 · OCF $2.08B · FCF $1.40B · 0001193125-10-068386 · filed 2010-03-26FY07OCF $2.08BFCF $1.40B0001193125-10-068386 · filed 2010-03-26FY2008 · OCF $1.41B · FCF $981.0M · 0001193125-11-079691 · filed 2011-03-28FY08OCF $1.41BFCF $981.0M0001193125-11-079691 · filed 2011-03-28FY2009 · OCF $1.93B · FCF $1.59B · 0001193125-12-132098 · filed 2012-03-26FY09OCF $1.93BFCF $1.59B0001193125-12-132098 · filed 2012-03-26FY2010 · OCF $1.74B · FCF $1.19B · 0000039911-13-000057 · filed 2013-03-26FY10OCF $1.74BFCF $1.19B0000039911-13-000057 · filed 2013-03-26FY2011 · OCF $1.36B · FCF $815.0M · 0000039911-14-000045 · filed 2014-03-24FY11OCF $1.36BFCF $815.0M0000039911-14-000045 · filed 2014-03-24FY2012 · OCF $1.94B · FCF $1.28B · 0000039911-15-000101 · filed 2015-03-23FY12OCF $1.94BFCF $1.28B0000039911-15-000101 · filed 2015-03-23FY2013 · OCF $1.71B · FCF $1.03B · 0000039911-16-000269 · filed 2016-03-21FY13OCF $1.71BFCF $1.03B0000039911-16-000269 · filed 2016-03-21FY2014 · OCF $2.13B · FCF $1.42B · 0000039911-17-000058 · filed 2017-03-20FY14OCF $2.13BFCF $1.42B0000039911-17-000058 · filed 2017-03-20FY2015 · OCF $1.59B · FCF $868.0M · 0000039911-18-000048 · filed 2018-03-20FY15OCF $1.59BFCF $868.0M0000039911-18-000048 · filed 2018-03-20FY2016 · OCF $1.72B · FCF $1.20B · 0000039911-19-000023 · filed 2019-03-19FY16OCF $1.72BFCF $1.20B0000039911-19-000023 · filed 2019-03-19FY2017 · OCF $1.38B · FCF $649.0M · 0000039911-20-000019 · filed 2020-03-17FY17OCF $1.38BFCF $649.0M0000039911-20-000019 · filed 2020-03-17FY2018 · OCF $1.38B · FCF $676.0M · 0000039911-21-000021 · filed 2021-03-16FY18OCF $1.38BFCF $676.0M0000039911-21-000021 · filed 2021-03-16FY2019 · OCF $1.41B · FCF $709.0M · 0000039911-22-000012 · filed 2022-03-15FY19OCF $1.41BFCF $709.0M0000039911-22-000012 · filed 2022-03-15FY2020 · OCF $237.0M · FCF −$155.0M · 0000039911-23-000015 · filed 2023-03-14FY20OCF $237.0MFCF −$155.0M0000039911-23-000015 · filed 2023-03-14FY2021 · OCF $809.0M · FCF $115.0M · 0000039911-24-000066 · filed 2024-03-19FY21OCF $809.0MFCF $115.0M0000039911-24-000066 · filed 2024-03-19FY2022 · OCF $607.0M · FCF −$78.0M · 0000039911-25-000029 · filed 2025-03-18FY22OCF $607.0MFCF −$78.0M0000039911-25-000029 · filed 2025-03-18FY2023 · OCF $1.53B · FCF $1.11B · 0001628280-26-018573 · filed 2026-03-17FY23OCF $1.53BFCF $1.11B0001628280-26-018573 · filed 2026-03-17FY2024 · OCF $1.49B · FCF $1.04B · 0001628280-26-018573 · filed 2026-03-17FY24OCF $1.49BFCF $1.04B0001628280-26-018573 · filed 2026-03-17FY2025 · OCF $1.29B · FCF $823.0M · 0001628280-26-018573 · filed 2026-03-17FY25OCF $1.29BFCF $823.0M0001628280-26-018573 · filed 2026-03-17FY25OCF $1.29BFCF $823.0M0001628280-26-018573 · filed 2026-03-17’09’13’17’21’25

FY2025: $1.29B operating cash − $470.0M capex = $823.0M free cash flow

Returns on capitalReturn on equityReturn on assets
-20%0%20%40%FY2008 · ROE 22.0% · ROA 12.8%FY08ROE 22.0%ROA 12.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE 22.5% · ROA 13.8%FY09ROE 22.5%ROA 13.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 29.5% · ROA 17.0%FY10ROE 29.5%ROA 17.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 30.2% · ROA 11.2%FY11ROE 30.2%ROA 11.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 39.2% · ROA 15.2%FY12ROE 39.2%ROA 15.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 41.8% · ROA 16.3%FY13ROE 41.8%ROA 16.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 42.3% · ROA 16.4%FY14ROE 42.3%ROA 16.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 36.1% · ROA 12.3%FY15ROE 36.1%ROA 12.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 23.3% · ROA 8.9%FY16ROE 23.3%ROA 8.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 27.0% · ROA 10.6%FY17ROE 27.0%ROA 10.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 28.2% · ROA 12.5%FY18ROE 28.2%ROA 12.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 10.6% · ROA 2.6%FY19ROE 10.6%ROA 2.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE -25.4% · ROA -4.8%FY20ROE -25.4%ROA -4.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 9.4% · ROA 2.0%FY21ROE 9.4%ROA 2.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE -9.0% · ROA -1.8%FY22ROE -9.0%ROA -1.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 19.3% · ROA 4.5%FY23ROE 19.3%ROA 4.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 25.9% · ROA 7.1%FY24ROE 25.9%ROA 7.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 21.5% · ROA 6.5%FY25ROE 21.5%ROA 6.5%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 21.5%ROA 6.5%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 22% (FY2008) → 21% (FY2025) · on assets 6.5%

The receipts