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GameStop Corp. (NYSE:GME)

This company has been moved to the archive! The financial data has not been updated since June 11, 2024.

Common-Size Balance Sheet: Assets

GameStop Corp., common-size consolidated balance sheet: assets

Microsoft Excel
Feb 3, 2024 Jan 28, 2023 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019
Cash and cash equivalents 34.02 36.58 36.33 20.57 17.71 40.17
Marketable securities 10.25 8.08 0.00 0.00 0.00 0.00
Receivables, net of allowance 3.36 4.94 4.03 4.26 5.03 3.32
Merchandise inventories, net 23.35 21.93 26.15 24.37 30.49 30.92
Prepaid expenses and other current assets 1.90 3.09 7.75 13.54 4.29 2.93
Assets held-for-sale 0.00 0.00 0.00 0.00 0.42 0.00
Current assets 72.88% 74.64% 74.27% 62.74% 57.94% 77.34%
Property and equipment, net of accumulated depreciation 3.50 4.38 4.68 8.14 9.78 7.94
Operating lease right-of-use assets 20.52 18.01 16.76 26.78 27.20 0.00
Deferred income taxes 0.64 0.59 0.47 0.00 2.94 3.64
Goodwill 0.00 0.00 0.00 0.00 0.00 9.00
Other noncurrent assets 2.47 2.38 3.83 2.35 2.13 2.08
Noncurrent assets 27.12% 25.36% 25.73% 37.26% 42.06% 22.66%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).

The asset composition reflects a strategic shift toward high liquidity and a reduction in fixed asset intensity over the analyzed period. While current assets have consistently represented the majority of the balance sheet, their proportion fluctuated, reaching a low of 57.94% in 2020 before stabilizing above 72% in recent years.

Liquidity and Cash Management
Cash and cash equivalents experienced significant volatility, dropping from 40.17% in 2019 to 17.71% in 2020, before rebounding to sustain a range between 34% and 36% from 2022 through 2024. This liquidity position was further strengthened by the introduction of marketable securities, which accounted for 8.08% and 10.25% of total assets in 2023 and 2024, respectively.
Inventory and Current Asset Trends
Merchandise inventories have demonstrated a gradual downward trend as a percentage of total assets, declining from 30.92% in 2019 to 23.35% in 2024. Prepaid expenses and other current assets showed a temporary spike to 13.54% in 2021 but have since contracted to a period low of 1.90% by February 2024.
Noncurrent Asset Evolution
Property and equipment, net, have steadily declined from 7.94% in 2019 to 3.50% in 2024, indicating a diminishing reliance on owned physical infrastructure. Operating lease right-of-use assets emerged as a significant component in 2020 at 27.20% and remained a primary noncurrent asset, fluctuating between 16.76% and 20.52% in subsequent years.
Intangibles and Other Adjustments
A complete removal of goodwill is observed after 2019, where it previously represented 9.00% of total assets. Deferred income taxes have also diminished significantly, falling from 3.64% in 2019 to 0.64% in 2024.

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