Filing Flows › Gap (GAP) › Q3 FY26
Gap (GAP) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Nov 25, 2025
Gap (GAP) reported revenue of $3.9B for the third quarter fiscal 2026 (Q3 FY26), +3% from a year earlier and +6% from the quarter before. Operating margin was 8.5%, net earnings $236M (6.0% of revenue).
Gap, Q3 FY26: revenue $3.9B (+3% year over year), operating margin 8.5%, net earnings $236M, operating cash flow $299M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.9B | +6% | +3% |
| Gross profit | $1.7B | +9% | +2% |
| Operating profit | $334M | +14% | -6% |
| Net earnings | $236M | +9% | -14% |
| Operating cash flow | $299M | -33% | +3% |
| Free cash flow | $153M | -56% | +7% |
What changed
Revenue was $3.9B in Q3 FY26, up 3% year over year and up 6% from the previous quarter.
Gross margin was 42.4%, down 0.3 points from a year earlier. Operating profit was $0.33B, a 8.5% margin (down 0.8 points year over year). Operating profit fell $0.02B even though revenue rose $0.11B versus a year earlier, so costs grew faster than sales. Operating expenses grew 4% against revenue growth of 3%. Net earnings were $0.24B, down 14% year over year. The effective tax rate was 30.0%.
Operating cash flow was $0.30B (up 3% year over year), 127% of net earnings. Non-cash charges added back $0.12B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.10B. Capital expenditures of $0.15B left free cash flow of $0.15B.
Questions
What was Gap's revenue in the third quarter fiscal 2026?
Gap (GAP) reported revenue of $3.9B for the third quarter fiscal 2026 (Q3 FY26), +3% from a year earlier and +6% from the quarter before.
Was Gap profitable in the third quarter fiscal 2026?
Operating profit was $334M (8.5% of revenue) and net earnings $236M.
Source: Gap 10-Q on SEC EDGAR.