ANF vs GAP: Abercrombie & Fitch and The Gap compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- The Gap is the larger company, worth $8.4B, about 1.3 times Abercrombie & Fitch.
- Abercrombie & Fitch grew revenue faster over the last year (+4.8% vs -2.0%).
- Abercrombie & Fitch keeps more of each dollar of revenue as operating profit (13.7% vs 11.0%).
- On earnings, The Gap is the cheaper stock (10.8x vs 13.4x).
- Abercrombie & Fitch's price assumes faster free cash flow growth: about 3% a year, against -4% for The Gap (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ANF | GAP |
|---|---|---|
| Market cap | $6.3B | $8.4B |
| Share price | $142.58 | $23.23 |
| Revenue (last fiscal year) | $5.3B | $15.4B |
| Free cash flow (last fiscal year) | $378M | $823M |
| Revenue growth, last year | +4.8% | -2.0% |
| Revenue growth per year, last 5 fiscal years | +9.1% | -2.0% |
| Operating margin | 13.7% | 11.0% |
| Net margin | 10.0% | 8.1% |
| Return on equity | 39.6% | 31.6% |
| P/E (trailing) | 13.4x | 10.8x |
| Price / free cash flow | 16.6x | 10.2x |
| EV / EBITDA | 7.58x | 5.17x |
| FCF growth the price implies | 2.6% | -3.9% |
| Dividend yield | — | 2.8% |
| Debt / equity | 1.64x | 2.25x |
| Fundamental grade | C | C |
| Superinvestors holding it | 2 | 2 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Abercrombie & Fitch
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $3.7B | $181M | 9.2% |
| 2023 | $3.7B | -$167M | 2.5% |
| 2024 | $4.3B | $496M | 11.3% |
| 2025 | $4.9B | $527M | 15.0% |
| 2026 | $5.3B | $378M | 13.3% |
The Gap
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $16.7B | $115M | 4.9% |
| 2023 | $15.6B | -$78M | -0.44% |
| 2024 | $14.9B | $1.1B | 3.8% |
| 2025 | $15.1B | $1.0B | 7.4% |
| 2026 | $15.4B | $823M | 7.3% |
Where the revenue comes from
Abercrombie & Fitch · by products, 2026
Hollister$2.7B52%
Abercrombie$2.5B48%
The Gap
No segment breakdown reported.
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ANF in InvestinglyQuestions
Which is bigger, Abercrombie & Fitch or The Gap?
The Gap (GAP), at $8.4B against $6.3B.
Is ANF or GAP cheaper?
By trailing P/E, The Gap (10.8x) is cheaper than Abercrombie & Fitch (13.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, ANF or GAP?
Abercrombie & Fitch: revenue grew +4.8% over the last year, against -2.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.