GameStop Corp., current enterprise value calculation

Current share price (P)	$22.21
No. shares of common stock outstanding	305,873,200
US$ in thousands
Common equity (market value)¹	6,793,444)
Total equity	6,793,444)
Add: Current portion of long-term debt (per books)	10,800)
Add: Borrowings under revolving line of credit (per books)	—)
Add: Long-term debt, excluding current portion (per books)	17,700)
Total equity and debt	6,821,944)
Less: Cash and cash equivalents	921,700)
Less: Marketable securities	277,600)
Enterprise value (EV)	5,622,644)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 22.21 × 305,873,200

GameStop Corp., EV calculation

	Feb 3, 2024	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019
Share price^1, 2	$15.50	$23.15	$21.93	$45.44	$1.06	$2.53
No. shares of common stock outstanding¹	305,873,200	304,675,439	305,356,992	279,743,312	257,831,968	409,069,740
US$ in thousands
Common equity (market value)³	4,741,035)	7,053,236)	6,696,479)	12,711,536)	273,302)	1,034,946)
Total equity	4,741,035)	7,053,236)	6,696,479)	12,711,536)	273,302)	1,034,946)
Add: Current portion of long-term debt (book value)	10,800)	10,800)	4,100)	121,700)	—)	349,200)
Add: Borrowings under revolving line of credit (book value)	—)	—)	—)	25,000)	—)	—)
Add: Long-term debt, excluding current portion (book value)	17,700)	28,700)	40,500)	216,000)	419,800)	471,600)
Total equity and debt	4,769,535)	7,092,736)	6,741,079)	13,074,236)	693,102)	1,855,746)
Less: Cash and cash equivalents	921,700)	1,139,000)	1,271,400)	508,500)	499,400)	1,624,400)
Less: Marketable securities	277,600)	251,600)	—)	—)	—)	—)
Enterprise value (EV)	3,570,235)	5,702,136)	5,469,679)	12,565,736)	193,702)	231,346)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of GameStop Corp. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 15.50 × 305,873,200

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	GameStop Corp. EV increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

GameStop Corp. (NYSE:GME)

Enterprise Value (EV)