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Stock Analysis on Net

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
Quarterly Data

GameStop Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
May 4, 2024 Feb 3, 2024 Oct 28, 2023 Jul 29, 2023 Apr 29, 2023 Jan 28, 2023 Oct 29, 2022 Jul 30, 2022 Apr 30, 2022 Jan 29, 2022 Oct 30, 2021 Jul 31, 2021 May 1, 2021 Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018
Cash and cash equivalents 38.65 34.02 28.89 31.91 34.43 36.58 24.19 32.47 33.11 36.33 37.56 48.52 27.11 20.57 17.14 30.95 23.10 17.71 9.23 14.19 14.95 40.17 9.63 6.37 5.62
Marketable securities 3.21 10.25 9.55 10.70 8.24 8.08 7.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Receivables, net of allowance 2.28 3.36 2.81 2.70 3.88 4.94 3.77 3.56 3.31 4.03 2.22 1.93 3.98 4.26 2.98 3.50 3.51 5.03 4.63 4.10 3.47 3.32 3.27 2.84 2.43
Merchandise inventories, net 26.12 23.35 32.45 24.14 24.74 21.93 34.05 26.25 29.36 26.15 30.33 16.82 22.28 24.37 33.10 19.98 26.52 30.49 40.90 31.76 31.63 30.92 40.40 26.40 27.49
Prepaid expenses and other current assets 2.40 1.90 1.83 2.07 2.14 3.09 8.52 9.86 8.75 7.75 7.33 7.66 11.30 13.54 10.28 3.67 4.01 4.29 4.06 4.79 2.80 2.93 3.20 3.72 3.09
Assets held-for-sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.37 0.42 0.41 0.97 0.00 0.00 13.56 14.95 15.39
Current assets 72.66% 72.88% 75.53% 71.52% 73.43% 74.64% 77.71% 72.13% 74.54% 74.27% 77.43% 74.93% 64.67% 62.74% 63.50% 58.10% 57.51% 57.94% 59.23% 55.81% 52.85% 77.34% 70.07% 54.29% 54.02%
Property and equipment, net of accumulated depreciation 3.19 3.50 3.64 4.26 4.03 4.38 4.17 5.24 5.04 4.68 4.77 5.26 7.52 8.14 7.42 9.25 10.38 9.78 9.13 10.44 8.62 7.94 6.96 7.61 7.74
Operating lease right-of-use assets 20.95 20.52 18.13 20.79 19.41 18.01 15.75 19.80 18.20 16.76 16.37 18.20 25.53 26.78 25.63 29.01 28.60 27.20 24.10 25.76 22.21 0.00 0.00 0.00 0.00
Deferred income taxes 0.68 0.64 0.53 0.63 0.57 0.59 0.43 0.60 0.53 0.47 0.00 0.00 0.00 0.00 1.12 1.23 1.18 2.94 5.02 5.28 4.05 3.64 4.06 3.59 3.57
Goodwill 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 10.02 9.00 16.69 31.24 31.16
Other noncurrent assets 2.53 2.47 2.18 2.80 2.56 2.38 1.95 2.23 1.70 3.83 1.42 1.61 2.29 2.35 2.33 2.42 2.32 2.13 2.53 2.70 2.25 2.08 2.23 3.28 3.52
Noncurrent assets 27.34% 27.12% 24.47% 28.48% 26.57% 25.36% 22.29% 27.87% 25.46% 25.73% 22.57% 25.07% 35.33% 37.26% 36.50% 41.90% 42.49% 42.06% 40.77% 44.19% 47.15% 22.66% 29.93% 45.71% 45.98%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2024-05-04), 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).

The asset composition reflects a significant structural pivot toward liquidity over the analyzed period. Total current assets increased from 54.02% in May 2018 to 72.66% by May 2024, while total noncurrent assets concurrently declined from 45.98% to 27.34%. This shift indicates a strategic transition from a capital-intensive asset base to a highly liquid financial position.

Liquidity and Cash Management
Cash and cash equivalents experienced a substantial increase, rising from 5.62% in May 2018 to a peak of 48.52% in July 2021, before stabilizing at 38.65% in May 2024. This trend is supplemented by the introduction of marketable securities in October 2022, which peaked at 10.70% in July 2023 and stood at 3.21% as of May 2024, further enhancing the company's immediate solvency.
Inventory and Working Capital
Merchandise inventories exhibit marked seasonality, consistently peaking in November of each year. Despite this volatility, the relative weight of inventory has generally moderated from peaks of approximately 40% in 2018 and 2019 to a range between 23% and 32% in more recent periods. Receivables have remained relatively stable and low, generally fluctuating between 2% and 5% of total assets.
Fixed and Intangible Asset Reduction
A sharp contraction is observed in noncurrent assets. Goodwill, which represented 31.16% of total assets in May 2018, was systematically reduced and completely eliminated by August 2019. Similarly, net property and equipment showed a steady downward trend, decreasing from 7.74% in May 2018 to 3.19% by May 2024, suggesting a reduction in physical infrastructure or an acceleration of depreciation relative to asset growth.
Lease and Other Noncurrent Assets
Operating lease right-of-use assets became a significant component of the balance sheet starting in May 2019, consistently representing between 15% and 29% of total assets. Deferred income taxes, which were as high as 5.28% in August 2019, have declined significantly to under 1% for the majority of the period from 2021 onward.

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