Common-Size Balance Sheet: Assets
Quarterly Data
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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).
- Cash and Cash Equivalents
- Cash and cash equivalents as a percentage of total assets show considerable fluctuations over the observed periods. Starting at 5.62% in May 2018, the ratio rises sharply to peak at 48.52% in July 2021. Subsequently, it declines but remains relatively elevated, ending at 38.65% in May 2024. This pattern suggests a significant increase in liquidity, particularly in mid-2021, followed by some normalization while maintaining a high liquidity level.
- Marketable Securities
- Marketable securities data appear only from January 2023 onward, showing a range between 3.21% and 10.70% of total assets. This indicates a recent incorporation or reporting of these securities as part of liquid assets, suggesting a diversification of short-term investment holdings.
- Receivables, Net of Allowance
- Receivables show variation with an initial increasing trend from 2.43% in May 2018 to a high of 5.03% in February 2020. Afterward, the percentages fluctuate in a generally lower band, ending at 2.28% in May 2024. This may imply initial growth in credit extended to customers followed by tighter management or reduced sales on credit.
- Merchandise Inventories, Net
- Inventory levels exhibit volatility, with spikes such as in November 2018 (40.4%) and November 2019 (40.9%). Other periods show lower levels around the 20-30% range, with a notable decrease to 16.82% in July 2021. The inventory percentage tends to oscillate, reflecting changing inventory management or sales cycles.
- Prepaid Expenses and Other Current Assets
- This category shows intermittent spikes, especially from October 2020 (10.28%) and peaking in January 2021 (13.54%), followed by a decline to lower single-digit percentages around 2.4% by May 2024. The pattern suggests episodic increases in prepaid or other current assets possibly linked to specific transactions or accounting treatments during these quarters.
- Assets Held-for-Sale
- These assets are present primarily in the earlier periods, from May 2018 to August 2019, decreasing from 15.39% to minimal levels or absence thereafter. This indicates a divestiture or reclassification of held-for-sale assets during the timeline.
- Current Assets
- The proportion of current assets in total assets ranges variably between about 52.85% and 77.71%. There is a peak in late 2021 and early 2022, which aligns with the increase in cash and equivalents. The overall pattern reflects a strong emphasis on liquidity and short-term assets in the later periods.
- Property and Equipment, Net
- Property and equipment as a percentage of total assets decline slowly from 7.74% in May 2018 to 3.19% by May 2024. This downward trend suggests asset disposals, depreciation outpacing acquisitions, or a strategic shift away from fixed-asset investments.
- Operating Lease Right-of-Use Assets
- These assets appear starting May 2019 at 22.21%, increasing to about 29% by August 2020, then gradually declining with some fluctuations, settling around 20.95% by May 2024. The data indicate significant adoption of operating leases starting mid-2019, with a slow reduction possibly due to lease expirations or changes in leasing strategy.
- Deferred Income Taxes
- Deferred income taxes generally decrease over time from 3.57% in May 2018 to below 1% in most recent periods, although remaining slightly volatile. This reduction might reflect decreasing deferred tax assets or liabilities related to timing differences in revenue and expense recognition.
- Goodwill
- Goodwill decreases sharply from over 31% in mid-2018 to 9% by early 2019 and is not reported in subsequent periods. This may reflect asset impairments, disposals, or reclassification of business units.
- Other Noncurrent Assets
- These assets remain relatively stable throughout the periods at around 2-3% of total assets, with a notable peak of 3.83% in January 2022. The overall stability suggests a consistent minor component of total assets.
- Noncurrent Assets
- Noncurrent assets decrease notably from 45.98% in May 2018 to about 22-27% range in recent periods after peaking again near 47% in May 2019. The decline correlates with reductions in goodwill and property and equipment as well as adjustments in lease accounting.
- Total Assets
- The total assets percentage remains constant at 100% as expected, serving as the base for all other proportional measurements.