The Gap, Inc. (GAP) Income Statement Analysis

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Complete financial analysis of The Gap, Inc. (GAP) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of The Gap, Inc., a leading company in the Apparel – Retail industry within the Consumer Cyclical sector.

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The Gap, Inc. (GAP)

Industry: Apparel - Retail

Sector: Consumer Cyclical

Website: https://www.gapinc.com

About The Gap, Inc.

The Gap, Inc. operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Its products include denim, tees, fleece, and khakis; eyewear, jewelry, shoes, handbags, and fragrances; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities for women and girls. The company offers its products through company-operated stores, franchise stores, Websites, third-party arrangements, and catalogs. It has franchise agreements with unaffiliated franchisees to operate Old Navy, Gap, Athleta, and Banana Republic stores and websites in Asia, Europe, Latin America, the Middle East, and Africa. As of December 31, 2021, the company had 2,835 company-operated stores and 564 franchise stores. It also provides its products through e-commerce sites. The Gap, Inc. was incorporated in 1969 and is headquartered in San Francisco, California.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985
Revenue	14.89B	15.62B	16.67B	13.80B	16.38B	16.58B	15.86B	15.52B	15.80B	16.44B	16.15B	15.65B	14.55B	14.66B	14.20B	14.53B	15.76B	15.94B	16.02B	16.27B	15.85B	14.45B	13.85B	13.67B	11.64B	9.05B	6.51B	5.28B	4.40B	3.72B	3.30B	2.96B	2.52B	1.93B	1.59B	1.25B	1.06B	848.00M	647.30M
Cost of Revenue	9.11B	10.26B	10.03B	9.10B	10.25B	10.26B	9.79B	9.88B	10.08B	10.15B	9.86B	9.48B	9.28B	8.78B	8.47B	9.08B	10.07B	10.29B	10.15B	9.89B	9.89B	9.54B	9.70B	8.01B	6.34B	4.99B	3.75B	3.07B	2.62B	2.18B	1.98B	1.84B	1.49B	1.18B	1.00B	815.40M	655.40M	478.30M	396.10M
Gross Profit	5.78B	5.36B	6.64B	4.71B	6.13B	6.32B	6.07B	5.64B	5.72B	6.29B	6.29B	6.17B	5.27B	5.89B	5.72B	5.45B	5.69B	5.65B	5.87B	6.38B	5.97B	4.91B	4.14B	5.66B	5.30B	4.06B	2.76B	2.21B	1.77B	1.54B	1.32B	1.12B	1.03B	754.00M	584.10M	436.70M	406.60M	369.70M	251.20M
Gross Profit Ratio	38.79%	34.32%	39.81%	34.09%	37.44%	38.13%	38.26%	36.35%	36.21%	38.27%	38.97%	39.43%	36.25%	40.16%	40.32%	37.50%	36.11%	35.43%	36.63%	39.23%	37.64%	33.99%	29.92%	41.43%	45.52%	44.87%	42.35%	41.90%	40.30%	41.37%	39.92%	37.79%	40.97%	38.99%	36.81%	34.88%	38.29%	43.60%	38.81%
Research & Development	37.00M	46.00M	41.00M	46.00M	41.00M	50.00M	51.00M	46.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	0.00	4.33B	4.70B	4.14B	4.39B	966.00M	970.00M	855.00M	832.00M	3.59B	880.00M	884.00M	770.00M	738.00M	744.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.64B	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling & Marketing	882.00M	1.04B	1.12B	816.00M	687.00M	650.00M	673.00M	601.00M	578.00M	639.00M	637.00M	653.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	882.00M	5.37B	5.81B	4.96B	5.08B	966.00M	970.00M	855.00M	832.00M	4.23B	880.00M	884.00M	770.00M	738.00M	744.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.04B	2.40B	1.64B	1.27B	1.00B	853.50M	748.20M	661.30M	575.70M	454.20M	364.10M	277.40M	254.20M	209.20M	162.80M
Other Expenses	5.22B	5.43B	5.83B	5.57B	5.56B	4.96B	4.59B	4.45B	4.23B	4.21B	4.14B	4.23B	3.84B	3.92B	3.91B	3.90B	4.38B	4.39B	4.08B	4.51B	4.09B	4.11B	3.90B	3.69B	31.60M	13.60M	269.70M	-19.10M	-15.40M	-10.50M	141.80M	114.00M	82.10M	61.50M	43.80M	30.00M	23.80M	21.70M	17.10M
Operating Expenses	5.22B	5.43B	5.83B	5.57B	5.56B	4.96B	4.59B	4.45B	4.20B	4.21B	4.14B	4.23B	3.84B	3.92B	3.91B	3.90B	4.38B	4.48B	4.12B	4.30B	4.09B	3.90B	3.81B	4.22B	3.48B	2.73B	1.90B	1.49B	1.20B	1.02B	890.00M	775.30M	657.80M	515.70M	407.90M	307.40M	278.00M	230.90M	179.90M
Cost & Expenses	14.33B	15.69B	15.86B	14.66B	15.81B	15.22B	14.38B	14.33B	14.27B	14.35B	14.00B	13.71B	13.11B	12.70B	12.38B	12.98B	14.45B	14.77B	14.28B	14.18B	13.98B	13.44B	13.51B	12.23B	9.82B	7.72B	5.66B	4.56B	3.83B	3.20B	2.87B	2.62B	2.14B	1.70B	1.41B	1.12B	933.40M	709.20M	576.00M
Interest Income	86.00M	18.00M	5.00M	10.00M	30.00M	33.00M	19.00M	8.00M	6.00M	5.00M	5.00M	6.00M	5.00M	14.00M	7.00M	7.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	90.00M	88.00M	167.00M	192.00M	76.00M	40.00M	55.00M	67.00M	53.00M	70.00M	56.00M	81.00M	74.00M	14.00M	1.00M	1.00M	0.00	0.00	0.00	0.00	0.00	0.00	62.88M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation & Amortization	522.00M	540.00M	504.00M	507.00M	557.00M	578.00M	559.00M	593.00M	527.00M	500.00M	470.00M	483.00M	506.00M	562.00M	573.00M	568.00M	547.00M	530.00M	625.00M	620.00M	664.00M	780.88M	810.49M	590.37M	436.20M	326.40M	269.70M	214.90M	197.40M	168.20M	141.80M	114.00M	82.10M	61.50M	43.80M	30.00M	23.80M	21.70M	17.10M
EBITDA	1.17B	489.43M	994.00M	-403.00M	1.16B	1.97B	2.06B	1.79B	2.14B	2.65B	2.70B	2.51B	2.04B	1.97B	2.49B	2.12B	1.86B	1.70B	2.37B	2.66B	2.54B	1.79B	1.15B	2.04B	2.25B	1.66B	1.12B	944.00M	766.80M	686.60M	567.50M	457.50M	456.40M	299.80M	220.00M	159.30M	152.40M	160.50M	88.40M
EBITDA Ratio	7.84%	3.02%	9.83%	-2.15%	6.90%	11.33%	12.48%	11.10%	12.98%	15.72%	16.22%	15.49%	13.36%	17.44%	16.83%	14.57%	11.81%	10.69%	14.79%	17.27%	16.04%	12.41%	8.29%	14.88%	19.36%	18.33%	17.18%	17.49%	17.09%	18.15%	17.22%	15.45%	18.12%	15.50%	14.55%	12.72%	14.35%	18.93%	13.66%
Operating Income	622.00M	-69.00M	1.14B	-862.00M	574.00M	1.36B	1.48B	1.19B	1.52B	2.08B	2.15B	1.94B	1.44B	1.97B	1.82B	1.55B	1.32B	1.17B	1.75B	2.09B	1.88B	1.01B	337.52M	1.44B	1.82B	1.33B	851.30M	729.10M	569.40M	518.40M	425.70M	343.50M	374.30M	238.30M	176.20M	129.30M	128.60M	138.80M	71.30M
Operating Income Ratio	4.18%	-0.44%	6.81%	-6.25%	3.50%	8.21%	9.33%	7.68%	9.65%	12.67%	13.31%	12.41%	9.88%	13.42%	12.78%	10.66%	8.34%	7.36%	10.89%	12.82%	11.85%	7.01%	2.44%	10.57%	15.61%	14.72%	13.08%	13.80%	12.95%	13.92%	12.92%	11.60%	14.86%	12.32%	11.11%	10.33%	12.11%	16.37%	11.01%
Total Other Income/Expenses	-66.00M	-70.00M	-487.00M	-240.00M	-46.00M	-40.00M	-55.00M	-67.00M	-53.00M	-70.00M	-56.00M	-81.00M	-69.00M	14.00M	1.00M	-231.00M	91.00M	61.00M	48.00M	-213.00M	-196.00M	-211.13M	-95.88M	-62.88M	-31.70M	-13.70M	2.90M	19.50M	15.80M	10.90M	-800.00K	-3.70M	-3.50M	-1.40M	-13.50M	-3.50M	-3.90M	-1.60M	-3.40M
Income Before Tax	556.00M	-139.00M	323.00M	-1.10B	528.00M	1.32B	1.42B	1.12B	1.47B	2.01B	2.09B	1.86B	1.37B	1.98B	1.82B	1.58B	1.41B	1.26B	1.79B	1.87B	1.68B	800.88M	241.64M	1.38B	1.79B	1.32B	854.20M	748.60M	585.20M	529.30M	424.90M	339.80M	370.80M	236.90M	162.70M	125.80M	124.70M	137.20M	67.90M
Income Before Tax Ratio	3.73%	-0.89%	1.94%	-7.99%	3.22%	7.97%	8.98%	7.24%	9.31%	12.25%	12.96%	11.89%	9.41%	13.52%	12.79%	10.90%	8.92%	7.93%	11.19%	11.51%	10.62%	5.54%	1.74%	10.11%	15.34%	14.57%	13.13%	14.17%	13.31%	14.22%	12.89%	11.48%	14.72%	12.25%	10.25%	10.05%	11.74%	16.18%	10.49%
Income Tax Expense	54.00M	63.00M	67.00M	-437.00M	177.00M	319.00M	576.00M	448.00M	551.00M	751.00M	813.00M	726.00M	536.00M	778.00M	714.00M	617.00M	539.00M	486.00M	680.00M	722.00M	653.00M	323.42M	249.41M	504.39M	657.90M	494.70M	320.30M	295.70M	231.20M	209.10M	166.50M	129.10M	140.90M	92.40M	65.10M	51.60M	55.10M	69.10M	33.50M
Net Income	502.00M	-202.00M	256.00M	-665.00M	351.00M	1.00B	848.00M	676.00M	920.00M	1.26B	1.28B	1.14B	833.00M	1.20B	1.10B	967.00M	833.00M	778.00M	1.11B	1.15B	1.03B	477.46M	-7.76M	877.50M	1.13B	824.50M	533.90M	452.90M	354.00M	320.20M	258.40M	210.70M	229.90M	144.50M	97.60M	74.20M	69.60M	68.10M	27.70M
Net Income Ratio	3.37%	-1.29%	1.54%	-4.82%	2.14%	6.05%	5.35%	4.36%	5.82%	7.68%	7.93%	7.25%	5.73%	8.21%	7.76%	6.66%	5.28%	4.88%	6.95%	7.07%	6.50%	3.30%	-0.06%	6.42%	9.69%	9.11%	8.20%	8.57%	8.05%	8.60%	7.84%	7.12%	9.13%	7.47%	6.15%	5.93%	6.55%	8.03%	4.28%
EPS	1.36	-0.55	0.68	-1.78	0.93	2.61	2.16	1.69	2.24	2.90	2.78	2.35	1.57	1.89	1.59	1.59	1.05	0.94	1.26	1.29	1.15	0.55	-0.01	1.03	1.32	0.95	0.60	0.49	0.38	0.34	0.27	0.23	0.25	0.16	0.11	0.08	0.07	0.07	0.03
EPS Diluted	1.34	-0.55	0.67	-1.78	0.93	2.59	2.14	1.69	2.23	2.87	2.74	2.33	1.56	1.88	1.58	1.58	1.05	0.93	1.24	1.21	1.09	0.54	-0.01	1.00	1.26	0.91	0.58	0.47	0.37	0.33	0.27	0.22	0.24	0.15	0.10	0.07	0.07	0.07	0.03
Weighted Avg Shares Out	370.00M	367.00M	376.00M	373.60M	376.00M	385.00M	393.00M	399.00M	411.00M	435.00M	461.00M	482.00M	529.00M	636.00M	694.00M	694.00M	791.00M	831.00M	881.00M	893.00M	892.55M	867.27M	860.26M	849.81M	853.86M	867.89M	891.40M	924.29M	931.58M	941.76M	957.04M	916.09M	919.60M	903.13M	887.27M	927.50M	994.29M	972.86M	923.33M
Weighted Avg Shares Out (Dil)	376.00M	367.00M	383.00M	374.00M	378.00M	388.00M	396.00M	400.00M	413.00M	440.00M	467.00M	488.00M	533.00M	641.00M	699.00M	699.00M	794.00M	836.00M	902.00M	991.00M	988.18M	883.33M	860.26M	879.14M	894.52M	906.04M	922.95M	963.62M	956.76M	970.30M	957.04M	957.73M	957.92M	963.33M	976.00M	1.06B	994.29M	972.86M	923.33M

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