EARNINGS ESTIMATES

Disclaimer: Earnings estimates are calculated by Thomson Reuters based on earnings projections made by the analysts who cover Gap, Inc. Please note that any opinions, estimates or forecasts regarding Gap Inc.'s performance made by these analysts (and therefore the estimate numbers) are theirs and do not represent opinions, forecasts or predictions of Gap Inc. or its management. Gap Inc. does not by its reference below or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

Analyst Ratings

Mean Recommendation:

3.26

Sell

Strong Buy

Reference Information - Earnings Per Share

Last Actual (FY0): 2.59
FY0 End Date: Jan 19
Ind. Annual Div: 0.97
Hist (5 Yr) Growth %: -0.49
Yield (%): 5.23

Analyst Forecasts - Earnings Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 1.77 2.71 1.31 1.68 9 2 2 2.40
Annual Jan 21 1.66 2.00 1.28 1.67 22 3 3 -0.73
Annual Jan 20 1.75 1.79 1.71 1.75 22 3 -- 0.42
Quarterly Jan 20 0.36 0.40 0.32 0.36 20 3 -- 2.44
Quarterly Apr 20 0.19 0.25 0.09 0.19 13 -- 1 -0.81
Quarterly Jul 20 0.59 0.65 0.50 0.60 13 -- -- --
Quarterly Oct 20 0.53 0.56 0.44 0.53 13 -- 2 -1.16
Long Term Growth 1.18 12.00 -9.64 1.18 2 -- -- 0.00

Actuals - Earnings Per Share

Reported EPS Mean Estimate Surprise % Change
Annual Jan 19 2.59 2.55 1.56
Annual Jan 18 2.13 2.10 1.24
Annual Jan 17 2.02 2.02 -0.06
Quarterly Oct 19 0.53 0.51 3.84
Quarterly Jul 19 0.63 0.53 19.51
Quarterly Apr 19 0.24 0.32 -24.13
Quarterly Jan 19 0.72 0.68 5.61

Reference Information - Book Value Per Share

Last Actual (FY0): 9.40
FY0 End Date: Jan 19
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Book Value Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 11.13 11.58 10.68 11.13 2 -- 1 -0.27
Annual Jan 21 9.76 11.05 7.91 10.14 6 1 1 0.05
Annual Jan 20 9.41 11.02 7.66 9.72 6 -- -- --
Quarterly Jan 20 11.10 11.10 11.10 11.10 1 -- -- 4.27

Actuals - Book Value Per Share

Reported EPS Mean Estimate Surprise % Change
Annual Jan 19 9.40 9.00 4.46
Annual Jan 18 8.08 7.72 4.76
Annual Jan 17 7.28 6.97 4.48
Quarterly Oct 19 9.67 9.56 1.21
Quarterly Jul 19 9.59 10.12 -5.18
Quarterly Apr 19 9.42 9.67 -2.57
Quarterly Jan 19 9.40 9.23 1.89

Reference Information - Cash Flow Per Share

Last Actual (FY0): 3.56
FY0 End Date: Jan 19
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Cash Flow Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 3.85 3.85 3.85 3.85 1 -- -- --
Annual Jan 21 3.20 3.74 2.77 3.14 4 1 -- 0.39
Annual Jan 20 3.56 3.93 3.15 3.58 4 -- -- --
Quarterly Jan 20 1.58 2.24 0.91 1.58 2 -- -- --
Quarterly Apr 20 0.35 0.51 0.20 0.35 2 -- -- --
Quarterly Jul 20 1.11 1.32 0.90 1.11 2 -- -- --
Quarterly Oct 20 0.80 0.86 0.73 0.80 2 -- -- --

Actuals - Cash Flow Per Share

Reported EPS Mean Estimate Surprise % Change
Annual Jan 19 3.56 3.94 -9.61
Annual Jan 18 3.48 3.24 7.41
Annual Jan 17 4.30 3.29 30.65
Quarterly Oct 19 -0.15 1.12 -113.43
Quarterly Jul 19 1.46 1.41 3.69
Quarterly Apr 19 0.08 0.66 -87.82
Quarterly Jan 19 2.13 1.65 29.44

Reference Information - Dividend Per Share

Last Actual (FY0): 0.97
FY0 End Date: Jan 19
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Dividend Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 1.00 1.08 0.97 0.97 5 -- -- --
Annual Jan 21 0.98 1.03 0.97 0.97 12 -- -- --
Annual Jan 20 0.97 0.99 0.97 0.97 11 -- -- -0.06
Quarterly Jan 20 0.24 0.24 0.24 0.24 2 -- -- -1.37
Quarterly Apr 20 0.24 0.24 0.24 0.24 1 -- -- --
Quarterly Jul 20 0.24 0.24 0.24 0.24 1 -- -- --
Quarterly Oct 20 0.24 0.24 0.24 0.24 1 -- -- --

Actuals - Dividend Per Share

Reported EPS Mean Estimate Surprise % Change
Annual Jan 19 0.97 0.97 -0.13
Annual Jan 18 0.92 0.93 -1.16
Annual Jan 17 0.92 0.92 -0.08
Quarterly Oct 19 0.24 0.24 1.25
Quarterly Jul 19 0.24 0.24 0.16
Quarterly Apr 19 0.24 0.24 0.16
Quarterly Jan 19 0.24 0.24 -1.57

Reference Information - EBIT

Last Actual (FY0): 1,362.00
FY0 End Date: Jan 19
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - EBIT

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 903.18 1,402.77 619.35 886.10 9 3 -- 4.26
Annual Jan 21 885.95 1,054.00 716.14 884.39 20 3 2 -0.38
Annual Jan 20 951.02 1,001.00 924.00 944.00 19 3 1 0.43
Quarterly Jan 20 186.72 206.00 170.00 182.00 15 2 1 1.79
Quarterly Apr 20 100.97 128.31 58.98 101.75 8 -- -- 4.02
Quarterly Jul 20 306.29 337.00 268.58 310.35 8 -- -- 0.98
Quarterly Oct 20 280.50 297.00 252.66 284.25 8 -- -- 0.79

Actuals - EBIT

Reported EPS Mean Estimate Surprise % Change
Annual Jan 19 1,362.00 1,361.28 0.05
Annual Jan 18 1,415.00 1,397.10 1.28
Annual Jan 17 1,386.00 1,394.91 -0.64
Quarterly Oct 19 299.00 273.99 9.13
Quarterly Jul 19 334.00 284.96 17.21
Quarterly Apr 19 130.00 177.61 -26.81
Quarterly Jan 19 372.00 371.35 0.18

Reference Information - EBITDA

Last Actual (FY0): 1,879.00
FY0 End Date: Jan 19
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - EBITDA

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 1,402.82 1,515.00 1,267.00 1,464.03 5 2 -- 0.86
Annual Jan 21 1,429.77 1,564.00 1,200.00 1,440.00 17 2 1 -0.53
Annual Jan 20 1,509.34 1,575.22 1,437.78 1,506.80 14 2 -- 0.14
Quarterly Jan 20 334.33 395.22 307.00 321.70 8 1 -- 0.04
Quarterly Apr 20 244.83 280.00 216.12 241.59 4 -- -- --
Quarterly Jul 20 456.51 490.00 418.00 459.02 4 -- -- --
Quarterly Oct 20 424.49 451.00 408.13 419.41 4 -- -- --

Actuals - EBITDA

Reported EPS Mean Estimate Surprise % Change
Annual Jan 19 1,879.00 1,891.58 -0.66
Annual Jan 18 1,914.00 1,913.99 0.00
Annual Jan 17 1,917.00 1,941.20 -1.25
Quarterly Oct 19 439.00 414.31 5.96
Quarterly Jul 19 473.00 409.23 15.58
Quarterly Apr 19 268.00 304.37 -11.95
Quarterly Jan 19 509.00 499.45 1.91

Reference Information - GAAP Earnings Per Share

Last Actual (FY0): 2.59
FY0 End Date: Jan 19
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - GAAP Earnings Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 1.53 1.75 1.31 1.53 2 1 -- 1.66
Annual Jan 21 1.55 1.76 0.89 1.65 7 1 -- 0.37
Annual Jan 20 1.77 1.78 1.74 1.77 4 -- -- --
Quarterly Jan 20 0.25 0.36 -0.07 0.36 4 -- -- --
Quarterly Apr 20 0.12 0.20 -0.01 0.18 3 -- -- --
Quarterly Jul 20 0.53 0.61 0.40 0.57 3 -- -- --
Quarterly Oct 20 0.49 0.56 0.35 0.56 3 -- -- --

Actuals - GAAP Earnings Per Share

Reported EPS Mean Estimate Surprise % Change
Annual Jan 19 2.59 2.55 1.68
Annual Jan 18 2.14 2.17 -1.55
Annual Jan 17 1.69 1.67 1.11
Quarterly Oct 19 0.37 0.51 -27.45
Quarterly Jul 19 0.44 0.52 -14.56
Quarterly Apr 19 0.60 0.31 96.72
Quarterly Jan 19 0.72 0.68 6.40

Reference Information - Net Debt

Last Actual (FY0): -120.00
FY0 End Date: Jan 19
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Debt

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 350.99 350.99 350.99 350.99 1 -- -- 224.98
Annual Jan 21 198.01 252.30 92.72 249.00 3 -- 1 1,958.13
Annual Jan 20 -75.96 157.20 -373.60 -43.73 4 -- -- --
Quarterly Jan 20 -- -- -- -- -- -- -- --

Actuals - Net Debt

Reported EPS Mean Estimate Surprise % Change
Annual Jan 19 -120.00 -521.06 76.97
Annual Jan 18 -534.00 -341.90 -56.18
Annual Jan 17 -470.00 -108.35 -333.77
Quarterly Oct 19 167.00 -- --
Quarterly Jul 19 -222.00 -- --
Quarterly Apr 19 36.00 -- --
Quarterly Jan 19 -120.00 -324.00 62.96

Reference Information - Net Income

Last Actual (FY0): 1,003.00
FY0 End Date: Jan 19
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Income

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 663.79 1,009.30 470.00 608.53 7 4 -- 4.32
Annual Jan 21 620.83 741.00 473.77 620.69 17 4 2 -0.78
Annual Jan 20 661.32 676.86 645.25 661.87 16 3 -- 0.61
Quarterly Jan 20 132.22 148.71 118.25 133.00 13 2 -- 2.12
Quarterly Apr 20 63.46 94.00 33.28 60.00 5 -- -- --
Quarterly Jul 20 213.42 243.00 186.08 207.00 5 -- -- --
Quarterly Oct 20 190.18 208.00 164.88 195.00 5 -- -- --

Actuals - Net Income

Reported EPS Mean Estimate Surprise % Change
Annual Jan 19 1,003.00 990.25 1.29
Annual Jan 18 842.00 831.99 1.20
Annual Jan 17 807.00 799.33 0.96
Quarterly Oct 19 199.00 192.94 3.14
Quarterly Jul 19 238.00 201.57 18.08
Quarterly Apr 19 90.00 121.84 -26.14
Quarterly Jan 19 276.00 262.69 5.07

Reference Information - Operating Profit

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Operating Profit

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 -- -- -- -- -- -- -- --
Annual Jan 21 -- -- -- -- -- -- -- --
Annual Jan 20 -- -- -- -- -- -- -- --
Quarterly Oct 20 -- -- -- -- -- -- -- --
Quarterly Jul 20 -- -- -- -- -- -- -- --
Quarterly Apr 20 -- -- -- -- -- -- -- --
Quarterly Jan 20 -- -- -- -- -- -- -- --

Actuals - Operating Profit

Reported EPS Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Return On Equity

Last Actual (FY0): 29.95
FY0 End Date: Jan 19
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Return On Equity

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 19.31 29.80 14.41 16.51 4 -- -- 2.44
Annual Jan 21 17.22 19.00 16.12 17.10 8 -- -- 0.67
Annual Jan 20 19.09 20.50 17.95 18.71 9 -- -- 0.47

Actuals - Return On Equity

Reported EPS Mean Estimate Surprise % Change
Annual Jan 19 29.95 30.06 -0.11
Annual Jan 18 27.84 27.98 -0.14
Annual Jan 17 29.62 28.39 1.23

Reference Information - Sales

Last Actual (FY0): 16,580.00
FY0 End Date: Jan 19
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Sales

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 16,362.06 17,138.00 15,662.82 16,320.19 8 3 -- 1.89
Annual Jan 21 16,189.35 16,603.00 15,787.33 16,210.00 21 5 1 0.25
Annual Jan 20 16,189.15 16,335.00 16,034.00 16,176.28 21 4 -- 0.15
Quarterly Jan 20 4,479.28 4,626.00 4,325.00 4,489.00 17 3 -- 0.43
Quarterly Apr 20 3,714.42 3,837.00 3,593.19 3,714.00 11 -- -- --
Quarterly Jul 20 4,011.13 4,137.00 3,900.00 4,007.00 11 -- -- --
Quarterly Oct 20 3,985.34 4,066.00 3,882.04 4,010.00 11 1 -- 0.01

Actuals - Sales

Reported EPS Mean Estimate Surprise % Change
Annual Jan 19 16,580.00 16,644.28 -0.39
Annual Jan 18 15,855.00 15,736.73 0.75
Annual Jan 17 15,516.00 15,479.63 0.23
Quarterly Oct 19 3,998.00 3,956.44 1.05
Quarterly Jul 19 4,005.00 4,022.48 -0.43
Quarterly Apr 19 3,706.00 3,773.68 -1.79
Quarterly Jan 19 4,623.00 4,691.28 -1.46

Reference Information - Earnings Per Share (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Earnings Per Share (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 -- -- -- -- -- -- -- --
Annual Jan 21 -- -- -- -- -- -- -- --
Annual Jan 20 -- -- -- -- -- -- -- --
Quarterly Oct 20 -- -- -- -- -- -- -- --
Quarterly Jul 20 -- -- -- -- -- -- -- --
Quarterly Apr 20 -- -- -- -- -- -- -- --
Quarterly Jan 20 -- -- -- -- -- -- -- --

Actuals - Earnings Per Share (Parent)

Reported EPS Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Net Income (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Income (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 -- -- -- -- -- -- -- --
Annual Jan 21 -- -- -- -- -- -- -- --
Annual Jan 20 -- -- -- -- -- -- -- --
Quarterly Oct 20 -- -- -- -- -- -- -- --
Quarterly Jul 20 -- -- -- -- -- -- -- --
Quarterly Apr 20 -- -- -- -- -- -- -- --
Quarterly Jan 20 -- -- -- -- -- -- -- --

Actuals - Net Income (Parent)

Reported EPS Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Operating Profit (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Operating Profit (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Jan 22 -- -- -- -- -- -- -- --
Annual Jan 21 -- -- -- -- -- -- -- --
Annual Jan 20 -- -- -- -- -- -- -- --
Quarterly Oct 20 -- -- -- -- -- -- -- --
Quarterly Jul 20 -- -- -- -- -- -- -- --
Quarterly Apr 20 -- -- -- -- -- -- -- --
Quarterly Jan 20 -- -- -- -- -- -- -- --

Actuals - Operating Profit (Parent)

Reported EPS Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Sales (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Sales (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change

Actuals - Sales (Parent)

Reported EPS Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Copyright Thomson Reuters Corporation