GameStop
GME NYSE Computer & Electronics Retail Financials FY2016–FY2025
GameStop's revenue fell 5.0% to $3.6 billion in fiscal 2025. Its operating margin was 6.4%, up from −0.7% a year earlier. Free cash flow was $597 million, up 360.9%. The diluted share count rose 39.1%.
About these figures. Share counts and per-share figures for earlier years are restated for a stock split (4-for-1), so every year is on today's share basis.
What GameStop does
GameStop sells video games, collectibles and entertainment products through its stores and online. Its products fall into three groups: hardware and accessories (new and pre-owned game consoles, controllers and headsets), software (new and pre-owned games, plus in-game currency and digital downloads), and collectibles (apparel, toys, trading cards and gadgets, and services such as authenticating and grading trading cards). Its stores and websites operate mainly as GameStop, EB Games and Micromania.
It runs three geographic segments: the United States, Australia and Europe. At the end of its 2025 fiscal year it had 2,206 stores: 1,598 in the United States, 308 in Europe and 300 in Australia. It closed 727 US stores during the year and has left several countries, including Canada and Germany, in the past three years. It has signed an agreement about a possible sale of its French operations. It says it competes with multi-channel retailers and ecommerce businesses.
The 10-K says the company now has two priorities: getting the most cash from its older store business, and using its cash to buy, invest in or partner with other businesses. It says it has no binding agreement for a specific deal. A committee of its board that includes its chairman and chief executive, Ryan Cohen, manages its cash and can invest in items such as Treasury obligations, listed stocks and certain crypto-currencies, including Bitcoin.
- Legal name
- GameStop Corp.
- Fiscal year ends
- January 31, 2026
- Latest annual report
- 10-K · Mar 24, 2026
- Accession · CIK
- 0001326380-26-000013
0001326380
Revenue and margins
GameStop had $3.6B of revenue in fiscal 2025, down 5.1% on the year before.
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew −1.1% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $597M in fiscal 2025, 16.5% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
GameStop returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 39.1%.
Value GameStop yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of $4.8B and divides by 549.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 16.3x · peers 11.1x · sector 17.9x.
Balance sheet
Cash, debt and the ratios that show how comfortably GameStop can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $1.3B | $1.4B | $1.2B | $4.8B | $9.0B |
| Debt incl. finance leases | $44.6M | $39.5M | $28.5M | $16.9M | $4.2B |
| Net debt / EBITDA | — | — | −54.0x | −374.7x | −19.3x |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.0x | 0.8x |
| Interest coverage | −13.7x | −119.9x | −10.8x | −21.8x | 4.8x |
| Current ratio | 1.9x | 1.7x | 2.1x | 8.1x | 15.3x |
| Quick ratio | 1.2x | 1.2x | 1.4x | 7.3x | 14.7x |
| Total assets | $3.5B | $3.1B | $2.7B | $5.9B | $10.4B |
| Total liabilities | $1.9B | $1.8B | $1.4B | $946M | $4.9B |
| Shareholders' equity | $1.6B | $1.3B | $1.3B | $4.9B | $5.4B |
| Net debt (− = net cash) | −$1.2B | −$1.4B | −$1.2B | −$4.8B | −$4.8B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$98.0M
3 insiders
Sold, 12 months
$0.9M
2 insiders
Of sales under plans
80%
$0.7M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 13, 2026 | Ryan CohenPresident, CEO and Chairman, Director | Bought | 844,130 | $26.98 | $22.8M | Form 4 |
| Oct 12, 2026 | Daniel William MoorePFO and PAO | Sold plan | 15,480 | $27.00 | $0.4M | Form 4 |
| Oct 5, 2026 | Mark Haymond RobinsonGeneral Counsel and Secretary | Sold plan | 3,882 | $25.42 | $0.1M | Form 4 |
| Oct 2, 2026 | Ryan CohenPresident, CEO and Chairman, Director | Bought | 700,000 | $24.41 | $17.1M | Form 4 |
| Oct 1, 2026 | Daniel William MoorePFO and PAO | Sold | 7,297 | $24.26 | $0.2M | Form 4 |
| Oct 1, 2026 | Mark Haymond RobinsonGeneral Counsel and Secretary | Sold plan | 7,296 | $24.26 | $0.2M | Form 4 |
| Oct 1, 2026 | Nat TurnerDirector | Bought | 10,462 | $24.33 | $0.3M | Form 4 |
| Sep 29, 2026 | Ryan CohenPresident, CEO and Chairman, Director | Bought | 450,000 | $23.48 | $10.6M | Form 4 |
| Sep 21, 2026 | Alain AttalDirector | Bought | 17,500 | $22.97 | $0.4M | Form 4 |
| Sep 21, 2026 | Ryan CohenPresident, CEO and Chairman, Director | Bought | 1,150,680 | $22.94 | $26.4M | Form 4 |
| Sep 10, 2026 | Alain AttalDirector | Bought | 5,000 | $20.00 | $0.1M | Form 4 |
| Sep 10, 2026 | Ryan CohenPresident, CEO and Chairman, Director | Bought | 1,000,000 | $20.38 | $20.4M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✕ | ✓ | ✓ |
| Return on assets rose | ✓ | ✓ | ✓ |
| Cash from operations exceeds net income | ✕ | ✓ | ✓ |
| Debt fell relative to assets | ✓ | ✓ | ✕ |
| Current ratio rose | ✓ | ✓ | ✓ |
| Share count didn't rise | ✕ | ✕ | ✕ |
| Gross margin rose | ✓ | ✓ | ✓ |
| Revenue rose relative to assets | ✕ | ✕ | ✕ |
| F-score | 5 / 9 | 7 / 9 | 6 / 9 |
| Accruals ratio | 7.2% | −0.3% | −2.4% |
| Altman Z'' | 3.20 | 10.63 | 7.28 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| GameStop GME | $14.7B | −5.1% | 6.4% | 16.5% | — | 16.3x | 6 | |
| Upbound Group UPBD | $1.0B | 8.7% | 4.8% | 5.1% | — | 11.1x | — | Compare → |
| Best Buy BBY | $21.2B | 0.4% | 3.3% | 3.0% | 43.9% | 16.6x | 7 | Compare → |
| Gildan Activewear GIL | $6.2B | 10.7% | 17.1% | 13.8% | 9.9% | — | 6 | Compare → |
| Sally Beauty SBH | $1.7B | −0.4% | 8.9% | 4.7% | 16.1% | 9.1x | 8 | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $8.0B | $8.5B | $8.3B | $6.5B | $5.1B | $6.0B | $5.9B | $5.3B | $3.8B | $3.6B |
| Gross profit | $2.5B | $2.5B | $2.3B | $1.9B | $1.3B | $1.3B | $1.4B | $1.3B | $1.1B | $1.2B |
| Operating income | $482M | $439M | −$702M | −$400M | −$238M | −$369M | −$312M | −$34.5M | −$26.2M | $232M |
| Interest expense | $53.8M | $56.8M | $56.8M | $27.2M | $32.1M | $26.9M | $2.6M | $3.2M | $1.2M | $48.3M |
| Pretax income | $429M | $384M | −$753M | −$427M | −$270M | −$395M | −$302M | $13.1M | $137M | $384M |
| Income tax | $124M | $154M | $41.7M | $37.6M | −$55.3M | −$14.1M | $11.0M | $6.4M | $5.9M | −$34.4M |
| Net income | $353M | $34.7M | −$673M | −$471M | −$215M | −$381M | −$313M | $6.7M | $131M | $418M |
| Diluted EPS | $0.85 | $0.09 | −$1.65 | −$1.34 | −$0.83 | −$1.31 | −$1.03 | $0.02 | $0.33 | $0.77 |
| Diluted shares | 0.42B | 0.41B | 0.41B | 0.35B | 0.26B | 0.29B | 0.30B | 0.31B | 0.39B | 0.55B |
| Cash flow | ||||||||||
| Cash from operations | $537M | $435M | $325M | −$415M | $124M | −$434M | $108M | −$204M | $146M | $615M |
| Capital expenditure | $143M | $113M | $93.7M | $78.5M | $60.0M | $62.0M | $55.9M | $34.9M | $16.1M | $17.5M |
| Free cash flow | $394M | $322M | $231M | −$493M | $63.7M | −$496M | $52.3M | −$239M | $130M | $597M |
| Depreciation and amortization | $137M | $122M | $106M | $95.2M | $80.0M | $76.5M | $61.7M | $56.2M | $38.9M | $19.5M |
| Stock-based compensation | $17.8M | $25.6M | $10.7M | $8.9M | $7.9M | $30.5M | $40.1M | $22.2M | $16.4M | $26.7M |
| Acquisitions | $441M | $8.5M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $63.1M | $22.0M | $0.0M | $199M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends paid | $156M | $155M | $157M | $40.5M | $0.3M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | $219M | $177M | $157M | $239M | $0.3M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $665M | $854M | $1.6B | $499M | $509M | $1.3B | $1.4B | $1.2B | $4.8B | $9.0B |
| Total debt | $815M | $818M | $821M | $420M | $363M | $44.6M | $39.5M | $28.5M | $16.9M | $4.2B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | $2.1B | $3.0B | $3.1B | $1.6B | $1.6B | $2.6B | $2.3B | $2.0B | $5.4B | $10.0B |
| Current liabilities | $1.8B | $1.9B | $2.2B | $1.2B | $1.3B | $1.4B | $1.3B | $935M | $665M | $655M |
| Inventory | $1.1B | $1.3B | $1.3B | $860M | $603M | $915M | $683M | $633M | $480M | $403M |
| Property and equipment, net | $363M | $351M | $321M | $276M | $201M | $164M | $137M | $94.9M | $68.2M | $48.3M |
| Total assets | $5.0B | $5.0B | $4.0B | $2.8B | $2.5B | $3.5B | $3.1B | $2.7B | $5.9B | $10.4B |
| Total liabilities | $2.7B | $2.8B | $2.7B | $2.2B | $2.0B | $1.9B | $1.8B | $1.4B | $946M | $4.9B |
| Shareholders' equity | $2.3B | $2.2B | $1.3B | $612M | $437M | $1.6B | $1.3B | $1.3B | $4.9B | $5.4B |
| Margins | ||||||||||
| Gross margin | 31.4% | 29.1% | 27.9% | 29.5% | 24.8% | 22.4% | 23.2% | 24.5% | 29.1% | 33.0% |
| Operating margin | 6.1% | 5.1% | −8.5% | −6.2% | −4.7% | −6.1% | −5.3% | −0.7% | −0.7% | 6.4% |
| EBITDA margin | 7.8% | 6.6% | −7.2% | −4.7% | −3.1% | −4.9% | −4.2% | 0.4% | 0.3% | 6.9% |
| Net margin | 4.4% | 0.4% | −8.1% | −7.3% | −4.2% | −6.3% | −5.3% | 0.1% | 3.4% | 11.5% |
| FCF margin | 5.0% | 3.8% | 2.8% | −7.6% | 1.3% | −8.3% | 0.9% | −4.5% | 3.4% | 16.5% |
| Returns | ||||||||||
| Return on capital | 15.6% | 11.5% | −40.9% | −59.3% | −45.7% | −87.3% | — | — | — | — |
| Return on capital employed | 16.8% | 13.9% | −28.2% | −23.2% | −17.5% | −22.5% | −15.9% | −1.9% | −0.8% | 3.1% |
| Return on equity | 16.3% | 1.6% | −37.9% | −48.4% | −41.1% | −37.4% | −21.4% | 0.5% | 4.2% | 8.1% |
| Return on assets | 7.6% | 0.7% | −14.8% | −13.7% | −8.1% | −12.8% | −9.5% | 0.2% | 3.1% | 5.2% |
| Growth | ||||||||||
| Revenue growth | −14.9% | 7.3% | −3.1% | −22.0% | −21.3% | 18.1% | −1.4% | −11.0% | −27.5% | −5.1% |
| Net income growth | −12.3% | −90.2% | −2,039.5% | — | — | — | — | — | 1,859.7% | 218.7% |
| EPS growth | −10.1% | −90.0% | −2,038.2% | — | — | — | — | — | 1,550.0% | 133.3% |
| FCF growth | −18.4% | −18.5% | −28.0% | −313.1% | — | −879.1% | — | −556.2% | — | 360.9% |
| Share count change | −2.7% | −2.2% | 0.6% | −14.3% | −25.7% | 11.7% | 4.8% | 0.3% | 29.3% | 39.1% |
| Financial health | ||||||||||
| Net debt / EBITDA | 0.2x | −0.1x | — | — | — | — | — | −54.0x | −374.7x | −19.3x |
| Debt / equity | 0.4x | 0.4x | 0.6x | 0.7x | 0.8x | 0.0x | 0.0x | 0.0x | 0.0x | 0.8x |
| Interest coverage | 9.0x | 7.7x | −12.4x | −14.7x | −7.4x | −13.7x | −119.9x | −10.8x | −21.8x | 4.8x |
| Current ratio | 1.2x | 1.6x | 1.4x | 1.3x | 1.2x | 1.9x | 1.7x | 2.1x | 8.1x | 15.3x |
| Quick ratio | 0.6x | 0.9x | 0.9x | 0.6x | 0.7x | 1.2x | 1.2x | 1.4x | 7.3x | 14.7x |
| Capital allocation | ||||||||||
| Capex / revenue | 1.8% | 1.3% | 1.1% | 1.2% | 1.2% | 1.0% | 0.9% | 0.7% | 0.4% | 0.5% |
| Stock comp / revenue | 0.2% | 0.3% | 0.1% | 0.1% | 0.2% | 0.5% | 0.7% | 0.4% | 0.4% | 0.7% |
| Payouts / FCF | 55.4% | 55.1% | 68.0% | — | 0.5% | — | 0.0% | — | 0.0% | 0.0% |
| Quality scores | ||||||||||
| Piotroski F-score | 6.0 | 6.0 | 2.0 | 5.0 | 5.0 | 3.0 | 5.0 | 5.0 | 7.0 | 6.0 |
| Altman Z'' | 3.5 | 4.2 | 2.0 | 1.1 | 0.8 | 2.6 | 2.0 | 3.2 | 10.6 | 7.3 |
| Accruals ratio | −4.0% | −8.0% | −22.0% | −1.6% | −12.8% | 1.8% | −12.7% | 7.2% | −0.3% | −2.4% |
Source: SEC EDGAR XBRL filings (CIK 0001326380). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.