Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2006
- Price to Earnings (P/E) since 2006
- Price to Operating Profit (P/OP) since 2006
- Aggregate Accruals
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GameStop Corp., consolidated balance sheet: assets
US$ in thousands
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 financial data demonstrates several notable trends in the company's asset structure and liquidity over the analyzed periods. Total assets experienced significant fluctuations, decreasing sharply from February 2019 to January 2021, followed by a recovery in 2022, and then a gradual decline through February 2024.
- Cash and cash equivalents
- There was a marked reduction in cash reserves from 1,624,400 thousand USD in early 2019 to 499,400 thousand USD in early 2020, followed by a minor increase in 2021. Subsequently, cash balances rose again in 2022, peaking at 1,271,400 thousand USD, before declining steadily to 921,700 thousand USD by February 2024. This pattern suggests fluctuations in liquidity possibly related to operational or financing activities.
- Marketable securities
- Marketable securities were reported only in the last two periods, with values increasing from 251,600 thousand USD in January 2023 to 277,600 thousand USD in February 2024, indicating a more diversified liquidity management approach in the recent years.
- Receivables, net of allowance
- Receivables showed moderate volatility, initially increasing slightly from 134,200 thousand USD in 2019 to 141,900 thousand USD in 2020, then declining to 105,300 thousand USD in 2021. An upward trend ensued in 2022 and 2023, reaching 153,900 thousand USD, before falling sharply to 91,000 thousand USD in 2024. This trend could reflect changing credit policies or sales dynamics.
- Merchandise inventories, net
- Inventories decreased significantly from 1,250,500 thousand USD in 2019 to 602,500 thousand USD in 2021, followed by a partial recovery to 915,000 thousand USD in 2022. Afterwards, inventory levels declined steadily, ending at 632,500 thousand USD in 2024. This may indicate inventory optimization efforts or fluctuating demand.
- Prepaid expenses and other current assets
- These assets remained relatively stable in the initial periods before experiencing a sharp increase to 334,900 thousand USD in 2021. Afterwards, a declining trend occurred, dropping to 51,400 thousand USD by 2024, potentially indicating changes in prepayments or adjustments in other current assets management.
- Assets held-for-sale
- This line item was recorded only in 2020 at 11,800 thousand USD, with no further data in subsequent years, suggesting a one-time asset disposition or intended sale during that period.
- Current assets
- Current assets followed a trend similar to cash and cash equivalents, dropping notably from 3,127,700 thousand USD in 2019 to 1,551,200 thousand USD in 2021, then rebounding to a peak of 2,598,800 thousand USD in 2022 before decreasing to 1,974,200 thousand USD in 2024. This implies a considerable shift in working capital components over time.
- Property and equipment, net
- The net book value of property and equipment consistently declined throughout the periods, dropping from 321,300 thousand USD in 2019 to 94,900 thousand USD by 2024, reflecting possible asset disposals, depreciation, or reduced capital expenditures.
- Operating lease right-of-use assets
- Reported from 2020 onward, these assets decreased gradually from 767,000 thousand USD in 2020 to 555,800 thousand USD in 2024, which could indicate lease term expirations or renegotiations over time.
- Deferred income taxes
- This item decreased sharply from 147,300 thousand USD in 2019 to 16,300 thousand USD in 2022 and remained relatively stable thereafter. The reduction may be due to changes in tax positions or utilization of deferred tax assets.
- Goodwill
- Goodwill was recorded only in 2019 at 363,900 thousand USD and was absent in subsequent years, implying either impairment, disposal, or reclassification.
- Other noncurrent assets
- These assets fluctuated, with a high of 134,000 thousand USD in 2022 and declines before and after, ending at 66,800 thousand USD in 2024. This variability may be linked to asset revaluation or disposals.
- Noncurrent assets
- Noncurrent assets peaked in 2020 at 1,186,000 thousand USD, followed by a continuous decline to 734,800 thousand USD in 2024, consistent with trends in property, equipment, and lease assets.
- Total assets
- Total assets displayed considerable variations, dropping from 4,044,300 thousand USD in 2019 to a low of 2,472,600 thousand USD in 2021, recovering in 2022 to 3,499,300 thousand USD, and then gradually decreasing again to 2,709,000 thousand USD in 2024. This overall pattern reflects significant adjustments in both current and noncurrent asset bases over the years.