GameStop vs Upbound Group
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The short version
- Upbound Group is the larger business, with $4.7B of revenue in fiscal 2025 against $3.6B for GameStop.
- Upbound Group grew revenue faster (8.7%, against −5.1%).
- GameStop kept more of each dollar of sales as operating profit (6.4% operating margin, against 4.8%).
- GameStop turned more of its sales into free cash flow (16.5% FCF margin, against 5.1%).
- Investors pay more for each dollar of GameStop’s earnings: a P/E of 16.3x against 11.1x for Upbound Group.
| Latest fiscal year | GME · FY25 | UPBD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $14.7B | $1.0B |
| Revenue | $3.6B | $4.7B |
| Free cash flow | $597M | $239M |
| Net income | $418M | $73.2M |
| Growth | ||
| Revenue growth | −5.1% | 8.7% |
| 5-year growth | −6.5% | 10.8% |
| Share count change | 39.1% | 4.8% |
| Profitability | ||
| Gross margin | 33.0% | 48.4% |
| Operating margin | 6.4% | 4.8% |
| Net margin | 11.5% | 1.6% |
| FCF margin | 16.5% | 5.1% |
| Return on capital | — | — |
| Return on equity | 8.1% | 11.1% |
| Balance sheet | ||
| Net debt | −$4.8B | — |
| Net debt / EBITDA | −19.3x | — |
| Dividends and buybacks | $0.0M | $87.9M |
| Valuation & quality | ||
| P/E | 16.3x | 11.1x |
| Piotroski F-score | 6 | — |
Revenue
FY16
GME $8.0B
UPBD $3.0B
FY17
GME $8.5B
UPBD $2.7B
FY18
GME $8.3B
UPBD $2.7B
FY19
GME $6.5B
UPBD $2.7B
FY20
GME $5.1B
UPBD $2.8B
FY21
GME $6.0B
UPBD $4.6B
FY22
GME $5.9B
UPBD $4.2B
FY23
GME $5.3B
UPBD $4.0B
FY24
GME $3.8B
UPBD $4.3B
FY25
GME $3.6B
UPBD $4.7B
GME
UPBD
Operating margin
FY16
GME 6.1%
UPBD −2.3%
FY17
GME 5.1%
UPBD −2.3%
FY18
GME −8.5%
UPBD 2.1%
FY19
GME −6.2%
UPBD 9.5%
FY20
GME −4.7%
UPBD 8.4%
FY21
GME −6.1%
UPBD 6.1%
FY22
GME −5.3%
UPBD 3.5%
FY23
GME −0.7%
UPBD 4.1%
FY24
GME −0.7%
UPBD 6.8%
FY25
GME 6.4%
UPBD 4.8%
GME
UPBD
Free cash flow
FY16
GME $394M
UPBD $293M
FY17
GME $322M
UPBD $45.1M
FY18
GME $231M
UPBD $200M
FY19
GME −$493M
UPBD $194M
FY20
GME $63.7M
UPBD $202M
FY21
GME −$496M
UPBD $330M
FY22
GME $52.3M
UPBD $407M
FY23
GME −$239M
UPBD $147M
FY24
GME $130M
UPBD $48.5M
FY25
GME $597M
UPBD $239M
GME
UPBD
Return on capital
FY16
GME 15.6%
UPBD −9.5%
FY17
GME 11.5%
UPBD —
FY18
GME −40.9%
UPBD —
FY19
GME −59.3%
UPBD —
FY20
GME −45.7%
UPBD —
FY21
GME −87.3%
UPBD —
FY22
GME —
UPBD —
FY23
GME —
UPBD —
FY24
GME —
UPBD —
FY25
GME —
UPBD —
GME
UPBD
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.